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bitfair
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May 30, 2014, 05:11:00 PM |
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About 30 PH bought and paid for so far, according to my estimates.
Many may disagree, but I find it reassuring that AM is feeding the revenue back into the company - it is a healthy sign.
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aahzmundus
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May 30, 2014, 05:12:18 PM |
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Seems the reason FC was not posting an update is that he has a good amount of work to do. Keep up the good work FC, but drop by a little more often... once a month just to say hi?
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cs54
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Activity: 62
Merit: 10
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May 30, 2014, 05:14:10 PM |
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POS company, FU friedcat.
Friedcat new business is not called Bitfountain it is "比特泉科技有限公司" in chinese. Of course there are no positions for public shareholders open there. could be their balance sheets are looking more attractive, and blockchain address draw your own conclusions.. Bitquan Technologies Limited? Does anyone know what they do? Appears to have been formed August 15, 2013. Not sure if the Mem & Arts are publicly available but this site seems to suggest that's possible. Edit: removed. I don't want to toe the line of doxing, not that that was anyone's intent. |
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bitcoin.newsfeed
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May 30, 2014, 05:15:14 PM
Last edit: May 30, 2014, 08:14:18 PM by bitcoin.newsfeed |
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edit : reaction after first look, then reconsidered  : What the fuck is this ? ? ? is this a joke ? FUCKING SCAM where are all the millions money from gen3 sales ? what is that -4164 BTC and - 4M CNY on exchange ? did you play with company money on day trading, or its frozen or what ? Dividends per share : - 0.0081 /share <<< is this that "aggressive dividend" ? so is AM bankrupt, tunneled by you, divided to your private companies or what ? unbelievable ... |
... Question Everything, Believe Nothing ...
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atx.btc
Newbie
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Activity: 24
Merit: 0
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May 30, 2014, 05:18:24 PM |
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Cashflow statement up to May 27:
- Any electricity for May 25 (Line 18)
- Was released before payment of May 28 salaries (Line 22)
This makes it hard to estimate whether we are ramping up or withering away in both mining and production.
The balance sheets show a large amount of Materials waiting to be turned into chips. (Line 7) This looks to be the only bit of hope in this picture. Even then it looks bleak. If each chip makes 100% over cost, that bumps assets to 40 USD per share.
Well......
Edit: 7M USD is 17 dollars per share. Not quite the positive picture.
I wonder if we will be mining with any of these materials and chips in warehouse. It looks like we have paid rent for the two mining farm locations in April, with 264.02 mined in 2 months... |
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bitfair
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May 30, 2014, 05:22:04 PM |
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What the fuck is this ? ? ? is this a joke ? FUCKING SCAM
where are all the millions money from gen3 sales ? what is that -4164 BTC and - 4M CNY on exchange ? did you play with company money on day trading, or its frozen or what ?
Dividends per share : - 0.0081 /share <<< is this that "aggressive dividend" ?
so is AM bankrupt, tunneled by you, divided to your private companies or what ?
You apparently have a poor grasp of accounting. The cash flow shows negative income per share in BTC since last report because they spent more BTC than they earned since last report. Which is not really surprising, since they have had to pay for the chip production. The millions from gen3 sales are there, under "Income - Chip sales". Please ask more questions if you are still confused, hope that clears up a little bit for you. |
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aahzmundus
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May 30, 2014, 05:25:32 PM |
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What the fuck is this ? ? ? is this a joke ? FUCKING SCAM
Investments have risk... FC already paid out far more then what he took in from IPO. You can HARDLY call this a scam. If things go down hill and collapse from here, call it a failed business venture sure. But scams do not ship and develop working products that make their customers happy, and pay their investors their entire investment back before paying themselves. Remember that? FC paid ALL profits to investors till we were paid back in full... then everything after that was gravy. INVESTMENTS HAVE RISK! Bitcoin is risky, and you are investing in an entirely bitcoin focused business. RISK!!! Do you not understand?! There is no free lunch... |
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atx.btc
Newbie
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Activity: 24
Merit: 0
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May 30, 2014, 05:29:06 PM |
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What the fuck is this ? ? ? is this a joke ? FUCKING SCAM
Investments have risk... FC already paid out far more then what he took in from IPO. You can HARDLY call this a scam. If things go down hill and collapse from here, call it a failed business venture sure. But scams do not ship and develop working products that make their customers happy, and pay their investors their entire investment back before paying themselves. Remember that? FC paid ALL profits to investors till we were paid back in full... then everything after that was gravy. INVESTMENTS HAVE RISK! Bitcoin is risky, and you are investing in an entirely bitcoin focused business. RISK!!! Do you not understand?! There is no free lunch... not just that, but we still have a warehouse full of materials and chips to be sold/mined with |
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asdfghj
Newbie
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Activity: 26
Merit: 8
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May 30, 2014, 05:31:25 PM |
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Can someone help me understand what "Exchange" means on lines 4 & 8 of the cash flow document?
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hdbuck
Legendary
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Activity: 1260
Merit: 1002
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May 30, 2014, 05:32:17 PM |
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problem is that meanwhile BTC price is rising.
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bitfair
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May 30, 2014, 05:33:23 PM |
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Can someone help me understand what "Exchange" means on lines 4 & 8 of the cash flow document?
BTC sold (listed as "expense") for USD (listed as "income"). |
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Dacm4n
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May 30, 2014, 05:37:43 PM |
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If anyone is interested in buying a small amount of direct shares. PM me.
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hdbuck
Legendary
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Activity: 1260
Merit: 1002
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May 30, 2014, 05:40:13 PM |
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Can someone help me understand what "Exchange" means on lines 4 & 8 of the cash flow document?
BTC sold (listed as "expense") for USD (listed as "income"). he sold those coins at an average of 560$. and we're probably going to get divs by the time they worth 1000$  |
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eiprol
Member
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Activity: 117
Merit: 10
bitarchitect
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May 30, 2014, 05:43:57 PM |
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The final US$ amount at "Owner's equity" means potential revenue of chips we have, or is it cash that can be converted and paid (as we all were expecting until this announcement)? Shouldn't we try to sell all that stuff in Bitcoins instead of US$ to avoid converting problems? Dear BTC, I want you to rise, but not now... ! |
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shawshankinmate37927
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May 30, 2014, 05:48:16 PM |
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The bank deposits and third-party payment systems for Bitcoin exchanges in China are all closed. Workarounds exist (like buying physical cards with deposit code) but the real trading volume is severely affected.
Conversion: We have OTC conversion channels to trade USD for Bitcoins in Hong Kong.
Perhaps it would be better to focus on self-mining rather than deal with the hassle of fiat to BTC conversion. |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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aahzmundus
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May 30, 2014, 05:49:02 PM |
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People are asking if there is a way sales could be done in btc, you are asking this because you are new around here. Sales historically were done in btc, and divs were then easy to do. It is now however illegal to price or sell things for btc in China (or some form of that, China changes their stance on bitcoin every 3 seconds). It was as a result of this I believe that cause FC to take payment for chips in fiat, legal bullshit.
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eiprol
Member
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Activity: 117
Merit: 10
bitarchitect
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May 30, 2014, 05:54:38 PM |
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People are asking if there is a way sales could be done in btc, you are asking this because you are new around here. Sales historically were done in btc, and divs were then easy to do. It is now however illegal to price or sell things for btc in China (or some form of that, China changes their stance on bitcoin every 3 seconds). It was as a result of this I believe that cause FC to take payment for chips in fiat, legal bullshit.
understood! In my case, not new at all, I've been here since IPO, and I remember AM chips sold in BTC at early stages... but I had forgotten all that mess with chinese position regarding bitcoin... any guess of the AM roadmap now with sales and conversions to BTC?  |
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CanaryInTheMine
Donator
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Activity: 2352
Merit: 1060
between a rock and a block!
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May 30, 2014, 05:58:25 PM |
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People are asking if there is a way sales could be done in btc, you are asking this because you are new around here. Sales historically were done in btc, and divs were then easy to do. It is now however illegal to price or sell things for btc in China (or some form of that, China changes their stance on bitcoin every 3 seconds). It was as a result of this I believe that cause FC to take payment for chips in fiat, legal bullshit.
Afaik, this is not the case. It's not illegal to take btc. It is true that there's FUD regarding btc and China every 3 seconds. Also friedcat prefers usd for chips since foundry takes usd, not btc. It's better to convert usd at some point into btc than the other way |
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shawshankinmate37927
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May 30, 2014, 05:59:56 PM |
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People are asking if there is a way sales could be done in btc, you are asking this because you are new around here. Sales historically were done in btc, and divs were then easy to do. It is now however illegal to price or sell things for btc in China (or some form of that, China changes their stance on bitcoin every 3 seconds). It was as a result of this I believe that cause FC to take payment for chips in fiat, legal bullshit.
I don't see how selling chips for fiat is going to work in this environment. I think self-mining for BTC and selling chips for fiat as needed will minimize the need to convert back and forth. |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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bitcoin.newsfeed
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May 30, 2014, 06:02:40 PM |
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Please ask more questions if you are still confused, hope that clears up a little bit for you.
thanks, so : Income from gen 3 : Chips sales : 513.70 BTC + 3 691 731 $ + 2 880 000 CNY Chips sales($) : 297 946 + 3 691 731 + 460 800 = 4 450 477 $ > 0.49$/10gh (the worst price tag) ~ 9Ph = its only for April Batch 4016 BTC sold (all company reserves+all company mining income+ all income from chip sales in BTC) in exchange for 564.31 USD/BTC price = 2 266 296 $ expenses : over 4M CNY on exhange ... for what?- ~200 000 CNY/month for Shenzen mining farm, is this that old air cooled basement, which is offline? - 25 360 $ / salaries / monts ... reasonable ok Shenzen hub, first rent paind 15days ago ... what is it? warehouse? place for upcoming mining farm? --- what AM have right now : last cash around 1M $ + products and material for around 9.38M $ running costs ( salaries + rent ) = ~ - 90 248 $ /month |
... Question Everything, Believe Nothing ...
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