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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3771370 times)
Bitcoin Oz
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August 20, 2012, 04:43:35 AM
 #161

I read the OP and they were indeed targeting a minimum of $100K

So then there is as of yet nothing to worry about.... 8.000 BTC already raised, 7.000 BTC is pledged (although it is not sure how much of that will actually be fulfilled of course)

15.000 X $ 7.80 (as of the time of writing) = $ 117.000

There is no guarantee that the reserved shares will go through. In fact, due to the crash, it's even less likely because the investment risk has practically doubled. So taking that math and applying it fairly to what we have already raised:

8000 X $ 7.80 = $62,400

I promise you the price has not even begun bottoming out yet. It could hit 5 tonight.

Anyway, again my wish would be to see how the IPO ends.... but again... let's leave that up to Friedcat and his friends before we start flooding the tread with how we think they should change their business model

I'm not making any decisions, I'm making suggestions (and getting some constructive feedback in return). I really want this stock to win, just because it's the only chance Bitcoin has to not be suffocated by BFL for the next half a year or more. I'll take my shares back (I've already lost most of their value) but I'd rather find a better plan.

The options for each unit idea is pretty cool sounding, way better than my rebate idea. Of course friedcat should make the big calls because he's much more knowledgeable about this stuff.

edit: also, it is not sustainable to be a mining company building our own ASICs. I'm sorry. Selling the hardware is way more profitable and allows the hashrate to be distributed to more people anyway. If we mine ourselves we'll cave in on our own difficulty. This is why BFL is not setting up giant mining farms, the less they mine the more hardware they can sell. They know they can manage to be the only source of competitive mining rigs.

Why dont you just calm down and stop running around with your arms in the air shouting "FIRE" ? That would be a good place to start.

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August 20, 2012, 04:49:56 AM
 #162

Yes.

Nothing has changed significantly between today and a week or two ago.
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August 20, 2012, 05:46:53 AM
 #163

Bitcoin exchange rate crash:
as long as it won't crash to below 0.2 USD, the ASIC is profitable.
I believe bitcoin will surpass the 30USD in 12 month. What's your belief? crash to 0.2 USD? Then you won't be reading this post.


Bulk orders are scared away:
If the bulk orders cancels, Friedcat will find fiat money funds to make it happen. There is back up plan. Only the "big dividend" disappeared.
I believe the bulk investors is more experienced than the retail investors, and it's not likely that all of them were scared.
What worries me is that some of them have invested in BST, and they are trying to withdraw and asking for a waiting period before all this turmoil.

Self mining V.S. selling mining rigs:
1. Please redo the math to decide which is profitable at the beginning.
2. I speculate that BFL will be mining themselves, but they just won't tell their customers.

Difficulty increase:
let's see what happened next.

Difficulty increase 20X+Price crash to 0.2USD
then, who are the mining miners ?

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August 20, 2012, 06:07:55 AM
 #164

Bitcoin exchange rate crash:
as long as it won't crash to below 0.2 USD, the ASIC is profitable.
I believe bitcoin will surpass the 30USD in 12 month. What's your belief? crash to 0.2 USD? Then you won't be reading this post.


Bulk orders are scared away:
If the bulk orders cancels, Friedcat will find fiat money funds to make it happen. There is back up plan. Only the "big dividend" disappeared.
I believe the bulk investors is more experienced than the retail investors, and it's not likely that all of them were scared.
What worries me is that some of them have invested in BST, and they are trying to withdraw and asking for a waiting period before all this turmoil.

Self mining V.S. selling mining rigs:
1. Please redo the math to decide which is profitable at the beginning.
2. I speculate that BFL will be mining themselves, but they just won't tell their customers.

Difficulty increase:
let's see what happened next.

Difficulty increase 20X+Price crash to 0.2USD
then, who are the mining miners ?


sorry. what's your point?

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
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August 20, 2012, 07:37:03 AM
 #165

sorry. what's your point?

There are "suggestions" to change the business plan from mining to selling rigs. Point: NO.

and there are worries that the fund won't be able meet the need. Point: Don't worry.





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August 20, 2012, 09:02:44 AM
 #166

There are "suggestions" to change the business plan from mining to selling rigs. Point: NO.

Self mining as quality control and performance optimization is still a sound strategy. I don't see any modifications necessary. Even if it would be more profitable to sell the chips right away, the evaluation of the chip in action will give feedback for subsequent design improvements...

and there are worries that the fund won't be able meet the need. Point: Don't worry.

I think the IPO should at least provide enough funds to cover the initial costs. After that we could sell our allocation as options, as previously suggested. That should provide further funding until the money from the actual selling rolls in...
However, I haven't looked at the financials of the business plan (yet) so I don't know when liquidity is required.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
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August 20, 2012, 01:24:01 PM
 #167

Hi there Smiley

I'm a small time investor too in this venture ~800 stocks, so I came here to voice my opinion too (after this horrible 5 posts jail).

Correct me if I'm wrong, but aren't there still 50K of stocks available? The IPO closed early due target was reached in that old price? So if the BTC value still declines, we should be able to reach the goal of $120K (10+90+something to play with) with all the stocks sold and BTC value around $6?

If this is so, I suggest we just go as planned. And if 28th we are not on target, then figure out what we'll do.
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August 20, 2012, 01:32:07 PM
 #168

There is another meeting soon. Issues like this are going to be brought up again Gabit.

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August 20, 2012, 01:33:47 PM
 #169

yaknow if ~800 shares makes gambit small time, then i must be a dust bunny or something with my 5 shares. (i just HAD to buy games from steam when we were still <$8 and use up my BTC)

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August 21, 2012, 05:23:06 PM
 #170

friedcat is not answering any more since his closing and before the crash. So let me speculate: He took the BTC, sold them all at once at the Mt.Gox exchange and ran away. Hopefully not.

Just my two Cents.

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August 21, 2012, 05:25:24 PM
 #171

friedcat is not answering any more since his closing and before the crash. So let me speculate: He took the BTC, sold them all at once at the Mt.Gox exchange and ran away. Hopefully not.

Just my two Cents.

FUD? Have you invested?

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
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August 21, 2012, 05:27:14 PM
 #172

friedcat is not answering any more since his closing and before the crash. So let me speculate: He took the BTC, sold them all at once at the Mt.Gox exchange and ran away. Hopefully not.

Just my two Cents.
He has said before he doesn't have access to internet at all times only when he goes to internet cafes etc.
//DeaDTerra
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August 21, 2012, 05:28:31 PM
 #173

No, I didn't. I have not seen it coming before the weekend, I wanted invest also, but I was too late. What a luck.

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August 21, 2012, 05:30:02 PM
 #174

No, I didn't. I have not seen it coming before the weekend, I wanted invest also, but I was too late. What a luck.
Please stop with all this FUD, I am tired of people jumping to conclusions way to soon on this forum.
1, He doesn't have internet access at all times.
2, what means have you tried contacting him by?
//DeaDTerra
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August 21, 2012, 05:32:31 PM
 #175

There was a very heavy crash in between, and friedcat should have took notice of it. I'm not sure, but for me it is a sign.

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August 21, 2012, 05:34:42 PM
 #176

There was a very heavy crash in between, and friedcat should have took notice of it. I'm not sure, but for me it is a sign.
That he might have other things to do then sit around staring at MTGox Live?
Comeone stop with the FUD, if you have genuine concerns please do share them but you can take the FUD somewhere else.
//DeaDTerra
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August 21, 2012, 05:34:56 PM
 #177

There was a very heavy crash in between, and friedcat should have took notice of it. I'm not sure, but for me it is a sign.
AFIAK, he hasn't cashed the funds.

In fact, if you want to buy a 5000 in bulk, considering the latest price drop, you might still have a chance, because maybe one of the pending buyers bailed out.
But I'd suggest being a bit more polite to achieve this Tongue

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August 21, 2012, 06:12:11 PM
 #178

There was a very heavy crash in between, and friedcat should have took notice of it. I'm not sure, but for me it is a sign.
AFIAK, he hasn't cashed the funds.

In fact, if you want to buy a 5000 in bulk, considering the latest price drop, you might still have a chance, because maybe one of the pending buyers bailed out.
But I'd suggest being a bit more polite to achieve this Tongue

Do you really think FUD people are good board members? They'd want to change the business plan every few days...

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
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August 21, 2012, 06:13:45 PM
 #179

There was a very heavy crash in between, and friedcat should have took notice of it. I'm not sure, but for me it is a sign.
AFIAK, he hasn't cashed the funds.

In fact, if you want to buy a 5000 in bulk, considering the latest price drop, you might still have a chance, because maybe one of the pending buyers bailed out.
But I'd suggest being a bit more polite to achieve this Tongue

Do you really think FUD people are good board members? They'd want to change the business plan every few days...
In they have enough money and balls to put in 500BTC into it - why to not see their point of view? Smiley
A single voice doesn't mean anything, anyway - cannot really mess up with the plans.

Check out gocoin - my original project of full bitcoin node & cold wallet written in Go.
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August 21, 2012, 06:15:18 PM
 #180

What is FUD?

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