ASICMINER: Entering the Future of ASIC Mining by Inventing It

[spartan82]

ASICMINER should rethink their approach here, and sell the chips to the highest bidders as well as mine for themselves.

AMEN TO THAT.

That would eliminate any favoritism towards Rockminer and insider dealings.  Openly sell off batches of chips in auction format.  Do you remember the big AM divs of ~0.038 BTC/share last year?  That was when we were auctioning off blades at 50 BTC a pop, while mining full force.  The auction format is perfect.  

+1, I am also for transparent auction format, great idea ! Jutarul, please, address that on the next board meeting. This is the best solution what i heard here in past several weeks.

Agreed. I'm all for auctioning off the units and getting the highest return possible. This way we ensure that everyone gets a fair chance not just first come first serve but those that want them the most will be willing to pay the most. Best case scenario for the shareholders

[Jutarul]

ASICMINER should rethink their approach here, and sell the chips to the highest bidders as well as mine for themselves.

AMEN TO THAT.

That would eliminate any favoritism towards Rockminer and insider dealings.  Openly sell off batches of chips in auction format.  Do you remember the big AM divs of ~0.038 BTC/share last year?  That was when we were auctioning off blades at 50 BTC a pop, while mining full force.  The auction format is perfect.  

+1, I am also for transparent auction format, great idea ! Jutarul, please, address that on the next board meeting. This is the best solution what i heard here in past several weeks.

I've asked for a clarification meeting on these issues.

[necro_nemesis]

Last block was 20th of March. What are the chances mining was shut down to retool?

[dhenson]

Last block was 20th of March. What are the chances mining was shut down to retool?

Sir, I like the way you think.

[necro_nemesis]

Well I'd expect abysmal results from the old equipment but zero for the period seems lower than anticipated. FC was working with packaged chips on the 29th so it isn't out of reason IMHO they'd cut their losses in preparation.

edit : seen.

May be time to pool the old effort rather than all or none.

O/T interesting information regarding how much of the distribution Bitmain is crediting to the S1.

Currently S1 is most popular miner for mining enthusiasts.  S1 is currently deployed in large binary trees structures within the private and public mining pools servicing 20.3% of the entire network hash rate.

[Franktank]

ASICMINER should rethink their approach here, and sell the chips to the highest bidders as well as mine for themselves.

AMEN TO THAT.

That would eliminate any favoritism towards Rockminer and insider dealings.  Openly sell off batches of chips in auction format.  Do you remember the big AM divs of ~0.038 BTC/share last year?  That was when we were auctioning off blades at 50 BTC a pop, while mining full force.  The auction format is perfect.  

+1, I am also for transparent auction format, great idea ! Jutarul, please, address that on the next board meeting. This is the best solution what i heard here in past several weeks.

Agreed. I'm all for auctioning off the units and getting the highest return possible. This way we ensure that everyone gets a fair chance not just first come first serve but those that want them the most will be willing to pay the most. Best case scenario for the shareholders

While this may largely benefit shareholders, there is one thing that separate AM from other manufactures: sustained, long-term Good will from the BTC community.

Getting max profits fast is nice but at the heavy cost of miners turning away. Look at KnC, Avalon, etc. We're here for the long game, not just to line our pockets once.

[Chris_Sabian]

Last block was 20th of March. What are the chances mining was shut down to retool?

http://erpao.info/

Where does that chart get the hashrate?

[aahzmundus]

Where does that chart get the hashrate?

Directly from AM I do believe, it is not an estimation, but it does not include franchises.  (this information is from memory, but the original post where this info was given out is somewhere deep in this thread.)

[jimmothy]

Where does that chart get the hashrate?

Directly from AM I do believe, it is not an estimation, but it does not include franchises.  (this information is from memory, but the original post where this info was given out is somewhere deep in this thread.)

Also does not include the immersion cooled DC.

[xuyongpku]

friedcat, What are you doing now?
In the bitcoin world, time is the money and competence, you have wasted much time to despair the investor.

[aahzmundus]

friedcat, What are you doing now?
In the bitcoin world, time is the money and competence, you have wasted much time to despair the investor.

WTF?  What have you done?  Friedcat already paid back the initial investment, and then some... everything here on out if gravy.

[Franktank]

Honestly, I'm surprised why people aren't demanding more about Gen 4/5 R&D or what the 5 year road map is (especially with the next block halving). A flawed metaphor perhaps but thinking that "next gen ASICs" is the only big payout seems a lot like "living paycheck to paycheck." Ideally, AM grows beyond that.

[Franktank]

friedcat, What are you doing now?
In the bitcoin world, time is the money and competence, you have wasted much time to despair the investor.

AM has paid out 6x IPO prices to investors. It's not his fault if you overvalued share prices. No other company allows the every day forum crawler to join in on profits, remember that.

[aahzmundus]

Honestly, I'm surprised why people aren't demanding more about Gen 4/5 R&D or what the 5 year road map is (especially with the next block halving). A flawed metaphor perhaps but thinking that "next gen ASICs" is the only big payout seems a lot like "living paycheck to paycheck." Ideally, AM grows beyond that.

Planning 6 months out in the bitcoin world is nearly the equivalent of planning 6 years ahead in the outside world if you ask me.  Ignoring that, friedcat working with Allied Control on the cooling system shows long term thought.  It will not be long before ASIC's hit the wall of the current state of chip development, and miners compete not on hardware, but on electricity and cooling costs.

Iceland and Washington state are going to be huge in the next 5 years.

[chriswilmer]

Honestly, I'm surprised why people aren't demanding more about Gen 4/5 R&D or what the 5 year road map is (especially with the next block halving). A flawed metaphor perhaps but thinking that "next gen ASICs" is the only big payout seems a lot like "living paycheck to paycheck." Ideally, AM grows beyond that.

I'm with you Franktank. I asked this a lot earlier on.

For me, it's like when I hear a startup pitch... I want to know about the short term plan, but I'm mostly interested in the long term vision. Maybe with ASICMINER the short term plan is enough though... basically, the plan is "there is a unique opportunity to make a million or so bitcoins from mining over the next two years... and then we can retire"

[Franktank]

Planning 6 months out in the bitcoin world is nearly the equivalent of planning 6 years ahead in the outside world if you ask me.  Ignoring that, friedcat working with Allied Control on the cooling system shows long term thought.  It will not be long before ASIC's hit the wall of the current state of chip development, and miners compete not on hardware, but on electricity and cooling costs.

Iceland and Washington state are going to be huge in the next 5 years.

It doesn't mean BitFountain just be a "R&D > Deploy > Enjoy Good Times > 'Mining Famine' > R&D" and repeat. Less than a couple years ago, people thought ASICs weren't feasible and the thought of developing something that was more efficient than an AMD GPU was crazy. ASICs still has quite a ways before it reaches current CPU sizes (~22nm). DeathandTaxes had a post back, talking about BTC ASIC vs. CPU. While everyone is clamoring over Gen 3, here's something to consider:

Using BitcoinClock as an estimate, the next having will be on 2016-08-25 (very likely sooner). Based on that timeline, we're looking at maybe 1 or 2 ASIC generations before it's down to 12.5 BTC a block? Preferably, it'd be nice to be ready for that.

[spinoff]

weren't we organizing another round of questions to forward to friedcat? "future plans" should certainly be on there

[neilol]

weren't we organizing another round of questions to forward to friedcat? "future plans" should certainly be on there

Agreed.

Also- did we ever get to the bottom of the preliminary specs being posted and then deleted by FC? A mistake by an underling?

[minerpumpkin]

weren't we organizing another round of questions to forward to friedcat? "future plans" should certainly be on there

Yes, keep the questions coming! I don't intend to be the victim of "you should've asked X" accusations afterwards
I will include obvious ones like "Time/Quantity of upcoming batches", "When will mining ramp up?", Something-rockminer

[VolanicEruptor]

Can we stop confusing "investors" with "new investors"?  New investors have not made 6x IPO.  Newcomers have every right to feel the way they do.  They want more information about what's going on.