Bitcoin Forum
November 19, 2019, 02:18:11 AM *
News: Latest Bitcoin Core release: 0.18.1 [Torrent]
 
   Home   Help Search Login Register More  

Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

Pages: « 1 ... 952 953 954 955 956 957 958 959 960 961 962 963 964 965 966 967 968 969 970 971 972 973 974 975 976 977 978 979 980 981 982 983 984 985 986 987 988 989 990 991 992 993 994 995 996 997 998 999 1000 1001 [1002] 1003 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 1026 1027 1028 1029 1030 1031 1032 1033 1034 1035 1036 1037 1038 1039 1040 1041 1042 1043 1044 1045 1046 1047 1048 1049 1050 1051 1052 ... 1348 »
  Print  
Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3901078 times)
necro_nemesis
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
May 31, 2014, 12:50:37 AM
 #20021

I guess being on the board entitles you to first class front row seating to the train wreck.
1574129891
Hero Member
*
Offline Offline

Posts: 1574129891

View Profile Personal Message (Offline)

Ignore
1574129891
Reply with quote  #2

1574129891
Report to moderator
1574129891
Hero Member
*
Offline Offline

Posts: 1574129891

View Profile Personal Message (Offline)

Ignore
1574129891
Reply with quote  #2

1574129891
Report to moderator
The Bitcoin Forum is turning 10 years old! Join the community in sharing and exploring the notable posts made over the years.
1574129891
Hero Member
*
Offline Offline

Posts: 1574129891

View Profile Personal Message (Offline)

Ignore
1574129891
Reply with quote  #2

1574129891
Report to moderator
michaelGedi
Sr. Member
****
Offline Offline

Activity: 364
Merit: 250


"to be or not to be, that is the bitcoin"


View Profile
May 31, 2014, 01:15:22 AM
 #20022

comments from Jutarul and pumpkin would be appreciated,

doubled up shares at 0.42, after a previous average buy back in of 0.6... not a good day for me  Undecided


next round of questions has a whole lot more weight to it now



TRADE FOREX, STOCKS AND COMMODITIES without the paperwork with Bitcoin: https://1broker.com/m/r.php?i=3589

1BROKER has been around since 2012 and is going strong
stompysteve
Hero Member
*****
Offline Offline

Activity: 574
Merit: 500


View Profile
May 31, 2014, 01:48:06 AM
 #20023

comments from Jutarul and pumpkin would be appreciated,

doubled up shares at 0.42, after a previous average buy back in of 0.6... not a good day for me  Undecided


next round of questions has a whole lot more weight to it now



Seems like everything changed from previous round of questions
michaelGedi
Sr. Member
****
Offline Offline

Activity: 364
Merit: 250


"to be or not to be, that is the bitcoin"


View Profile
May 31, 2014, 02:09:13 AM
 #20024

comments from Jutarul and pumpkin would be appreciated,

doubled up shares at 0.42, after a previous average buy back in of 0.6... not a good day for me  Undecided


next round of questions has a whole lot more weight to it now



Seems like everything changed from previous round of questions


yes, have yet to look at the information in depth but the price movement on havelock and the tantrums by the likes of bitcoin.newsfeed aren't pleasant...

that said after waiting for around 9 months for developments to take a more mid/long term positive swing, I don't think more waiting can hurt if the end result proves successful. Emotional reactions to no divs with report are a bit much, to me it just seems we need to take more initiative with gathering information from AM to prevent this kind of scenario... friedcat is not going to hold our hand through this. There was no mention of it being problematic to ask questions, just everyone clung on to their projecations and the quoted text from the (now old) last round of them

TRADE FOREX, STOCKS AND COMMODITIES without the paperwork with Bitcoin: https://1broker.com/m/r.php?i=3589

1BROKER has been around since 2012 and is going strong
User705
Legendary
*
Offline Offline

Activity: 980
Merit: 1006


First 100% Liquid Stablecoin Backed by Gold


View Profile
May 31, 2014, 02:17:08 AM
 #20025

Hard to trust financials that manage to get the date wrong.  Anyone know if the inventory is valued at cost or market price?

stompysteve
Hero Member
*****
Offline Offline

Activity: 574
Merit: 500


View Profile
May 31, 2014, 02:42:42 AM
 #20026

Hard to trust financials that manage to get the date wrong.  Anyone know if the inventory is valued at cost or market price?
guys guys its all a misunderstanding....the financials are from may 2013 not 2014   Tongue.... Lips sealed
VolanicEruptor
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250



View Profile
May 31, 2014, 02:56:19 AM
 #20027

Fuzzy financials.. hmm sounds like a Ken Slaughter move. 

jimmothy
Hero Member
*****
Offline Offline

Activity: 770
Merit: 500



View Profile
May 31, 2014, 03:00:26 AM
 #20028

Fuzzy financials.. hmm sounds like a Ken Slaughter move. 

Selling almost $4,000,000 worth of hardware is definitely not a Ken Slaughter move.
VolanicEruptor
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250



View Profile
May 31, 2014, 03:01:47 AM
 #20029

Fuzzy financials.. hmm sounds like a Ken Slaughter move.  

Selling almost $4,000,000 worth of hardware is definitely not a Ken Slaughter move.

Keeping profit away from shareholders is.  That is the only reason why financials would be fuzzy in the first place.

jimmothy
Hero Member
*****
Offline Offline

Activity: 770
Merit: 500



View Profile
May 31, 2014, 03:09:16 AM
Last edit: May 31, 2014, 03:31:24 AM by jimmothy
 #20030

Fuzzy financials.. hmm sounds like a Ken Slaughter move.  

Selling almost $4,000,000 worth of hardware is definitely not a Ken Slaughter move.

Keeping profit away from shareholders is.  

But that has never happened. They spent $6,000,000 and earned $4,000,000.

The same people complaining about not receiving divs from selling 700k chips, are the same people who would complain if he had given out divs now(reducing reinvestment) and not been able to sell 3m chips next month. You can have one or the other, not both.

Quote
That is the only reason why financials would be fuzzy in the first place.

It's only fuzzy if you can't read them. What part confuses you?
bitcoin.newsfeed
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
May 31, 2014, 05:32:02 AM
Last edit: May 31, 2014, 06:24:45 AM by bitcoin.newsfeed
 #20031

Next round of shareholders questions - gathering


Just got message from our friendlypumpkin :

Please collect those questions if you like and forward them, I'm currently out of town and on mobile only. (Plus I'm pretty disappointed and lost money due to all of this).

SO, if anyone wants to add any more questions for the next round of shareholders questions, just PM me or write it here, questions will be forwarded to competent people 1st of June 2014 12:00 UTC +01:00

Current state of list :

Quote
1) On the Balance Sheet, approximately how many chips does the current Inventory (Products + Materials) represent?

2) How many months of inventory do you estimate that represents?

3) On the Cash Flow there was significant expenses for gen3 production (~6mil USD). Does that represent the bulk of gen3 expenses, or are the expenses for gen3 going to continue (additional wafer batches ordered, etc.)?

4) When will dividends start, and how frequently will they occur?

5) What is the status of gen 3.1 (shipping to customers, I think?)? How much does it help with energy usage -- do we have final chip performance numbers yet?

6) What is the progress on gen4?

7) What is the status of self mining? What is the rollout schedule for the data centers?

8 ) What is the status of franchising partners? When can we expect to see income from them?

9) Can you please clarify this sentence from 21st April : "The dividend schedule will be aggressive, as AM will not require large sums of retained capital." < is this still actual, or meanwhile something changed?

10) What is the average selling price of AM gen3 chips (price per Gh/s)?

11) What is that ~4M CNY in financial report/expenses at exchange?

12) What is the cash flow ratio between the amount of Chips Fabricated and the percentage of the batch that is dedicated to cost.

13)  What is the Break Even Point of this batch of Chips?

14) What is the estimated conversion time from chip sales to dividends?

15) Will the funds from future Gen 3 chips be used to fund Gen 4 chips or distributed as a dividend, and what relative percentage of income will be used for Gen 4?

16) Previously our Asicminer farm was mining bitcoins and distributing a weekly dividend, will Asicminer update its present hash rate in the mining farm to account for current difficulty changes and to procure a secondary supply of Bitcoins to adapt for rapid changes in Bitcoin prices?

17) What ever happened to the dedicated PR person and should AM make a website for distributors and for Chip inquiries?

18) Can we please get weekly, bi-weekly or monthly updates about progress, plans, sales etc. for preventing FUD in this thread?

19) Can you please communicate more clearly/frequently with shareholders?




... Question Everything, Believe Nothing ...
jimmothy
Hero Member
*****
Offline Offline

Activity: 770
Merit: 500



View Profile
May 31, 2014, 05:42:42 AM
Last edit: May 31, 2014, 06:19:32 AM by jimmothy
 #20032

Quote
18) Can you please care more about your shareholders ?

I'd change that to "Can you please communicate more clearly/frequently with shareholders".

Also something to add: What is the average production cost per chip?
freedomno1
Legendary
*
Offline Offline

Activity: 1624
Merit: 1036


Learning the troll avoidance button :)


View Profile WWW
May 31, 2014, 06:14:59 AM
 #20033

I kind of want it to be a round of 20 Questions for Friedcat just for the reference if someone can think up at least 2 more good ones  Cool
http://en.wikipedia.org/wiki/Twenty_Questions
Swordsoffreedom
Legendary
*
Offline Offline

Activity: 1120
Merit: 1007



View Profile
May 31, 2014, 06:20:51 AM
 #20034

Got one
What ever happened to the dedicated PR person and should AM make a website for distributors and for Chip inquiries?

          ▄▄████▄▄
      ▄▄███▀    ▀███▄▄
   ▄████████▄▄▄▄████████▄
  ▀██████████████████████▀
▐█▄▄ ▀▀████▀    ▀████▀▀ ▄▄██
▐█████▄▄ ▀██▄▄▄▄██▀ ▄▄██▀  █
▐██ ▀████▄▄ ▀██▀ ▄▄████  ▄██
▐██  ███████▄  ▄████████████
▐██  █▌▐█ ▀██  ██████▀  ████
▐██  █▌▐█  ██  █████  ▄█████
 ███▄ ▌▐█  ██  ████████████▀
  ▀▀████▄ ▄██  ██▀  ████▀▀
      ▀▀█████  █  ▄██▀▀
         ▀▀██  ██▀▀
.WINDICE.████
██
██
██
██
██
██
██
██
██
██
██
██
████
      ▄████████▀
     ▄████████
    ▄███████▀
   ▄███████▀
  ▄█████████████
 ▄████████████▀
▄███████████▀
     █████▀
    ████▀
   ████
  ███▀
 ██▀
█▀

██
██
██
██
██
██
██
██
██
██
██
██
     ▄▄█████▄   ▄▄▄▄
    ██████████▄███████▄
  ▄████████████████████▌
 ████████████████████████
▐████████████████████████▌
 ▀██████████████████████▀
     ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
     ▄█     ▄█     ▄█
   ▄██▌   ▄██▌   ▄██▌
   ▀▀▀    ▀▀▀    ▀▀▀
       ▄█     ▄█
     ▄██▌   ▄██▌
     ▀▀▀    ▀▀▀

██
██
██
██
██
██
██
██
██
██
██
██
                   ▄█▄
                 ▄█████▄
                █████████▄
       ▄       ██ ████████▌
     ▄███▄    ▐█▌▐█████████
   ▄███████▄   ██ ▀███████▀
 ▄███████████▄  ▀██▄▄████▀
▐█ ▄███████████    ▀▀▀▀
█ █████████████▌      ▄
█▄▀████████████▌    ▄███▄
▐█▄▀███████████    ▐█▐███▌
 ▀██▄▄▀▀█████▀      ▀█▄█▀
   ▀▀▀███▀▀▀
████
  ██
  ██
  ██
  ██
  ██
  ██
  ██
  ██
  ██
  ██
  ██
  ██
████


▄▄████████▄▄
▄████████████████▄
▄████████████████████▄
███████████████▀▀  █████
████████████▀▀      ██████
▐████████▀▀   ▄▄     ██████▌
▐████▀▀    ▄█▀▀     ███████▌
▐████████ █▀        ███████▌
████████ █ ▄███▄   ███████
████████████████▄▄██████
▀████████████████████▀
▀████████████████▀
▀▀████████▀▀
iePlay NoweiI
I
I
I
bitcoin.newsfeed
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
May 31, 2014, 06:26:37 AM
 #20035

Got one : What ever happened to the dedicated PR person and should AM make a website for distributors and for Chip inquiries?

added on place 17 )

@ jimmothy : also added

... Question Everything, Believe Nothing ...
Swordsoffreedom
Legendary
*
Offline Offline

Activity: 1120
Merit: 1007



View Profile
May 31, 2014, 06:30:17 AM
Last edit: May 31, 2014, 06:44:08 AM by Swordsoffreedom
 #20036

Got one : What ever happened to the dedicated PR person and should AM make a website for distributors and for Chip inquiries?

added on place 17 )

@ jimmothy : also added

Thanks that was really fast  Grin
Inserts a cat reference ha-ha
@ newsfeed good point removed

          ▄▄████▄▄
      ▄▄███▀    ▀███▄▄
   ▄████████▄▄▄▄████████▄
  ▀██████████████████████▀
▐█▄▄ ▀▀████▀    ▀████▀▀ ▄▄██
▐█████▄▄ ▀██▄▄▄▄██▀ ▄▄██▀  █
▐██ ▀████▄▄ ▀██▀ ▄▄████  ▄██
▐██  ███████▄  ▄████████████
▐██  █▌▐█ ▀██  ██████▀  ████
▐██  █▌▐█  ██  █████  ▄█████
 ███▄ ▌▐█  ██  ████████████▀
  ▀▀████▄ ▄██  ██▀  ████▀▀
      ▀▀█████  █  ▄██▀▀
         ▀▀██  ██▀▀
.WINDICE.████
██
██
██
██
██
██
██
██
██
██
██
██
████
      ▄████████▀
     ▄████████
    ▄███████▀
   ▄███████▀
  ▄█████████████
 ▄████████████▀
▄███████████▀
     █████▀
    ████▀
   ████
  ███▀
 ██▀
█▀

██
██
██
██
██
██
██
██
██
██
██
██
     ▄▄█████▄   ▄▄▄▄
    ██████████▄███████▄
  ▄████████████████████▌
 ████████████████████████
▐████████████████████████▌
 ▀██████████████████████▀
     ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
     ▄█     ▄█     ▄█
   ▄██▌   ▄██▌   ▄██▌
   ▀▀▀    ▀▀▀    ▀▀▀
       ▄█     ▄█
     ▄██▌   ▄██▌
     ▀▀▀    ▀▀▀

██
██
██
██
██
██
██
██
██
██
██
██
                   ▄█▄
                 ▄█████▄
                █████████▄
       ▄       ██ ████████▌
     ▄███▄    ▐█▌▐█████████
   ▄███████▄   ██ ▀███████▀
 ▄███████████▄  ▀██▄▄████▀
▐█ ▄███████████    ▀▀▀▀
█ █████████████▌      ▄
█▄▀████████████▌    ▄███▄
▐█▄▀███████████    ▐█▐███▌
 ▀██▄▄▀▀█████▀      ▀█▄█▀
   ▀▀▀███▀▀▀
████
  ██
  ██
  ██
  ██
  ██
  ██
  ██
  ██
  ██
  ██
  ██
  ██
████


▄▄████████▄▄
▄████████████████▄
▄████████████████████▄
███████████████▀▀  █████
████████████▀▀      ██████
▐████████▀▀   ▄▄     ██████▌
▐████▀▀    ▄█▀▀     ███████▌
▐████████ █▀        ███████▌
████████ █ ▄███▄   ███████
████████████████▄▄██████
▀████████████████████▀
▀████████████████▀
▀▀████████▀▀
iePlay NoweiI
I
I
I
bitcoin.newsfeed
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
May 31, 2014, 06:34:49 AM
 #20037

Do you really think that its mood here for huge-ass memes and pictures? Some of us are in 6-7digits loss.

... Question Everything, Believe Nothing ...
Jutarul
Donator
Legendary
*
Offline Offline

Activity: 994
Merit: 1000



View Profile
May 31, 2014, 07:39:53 AM
 #20038

...
But that has never happened. They spent $6,000,000 and earned $4,000,000.
...
This.

I agree that the financial statements are a "opaque" to a certain degree. What is clear by now is that friedcat and team decided to move cash into inventory instead of a dividend payout. While a bit of a surprise, it certainly is no reason of concern. There are many reasons to do this, with the most likely one being, that spare, unallocated fab capacity was available, so the company stocked up on inventory. The rationale behind this is likely a supply chain issue of matching short-term demand for chips with supply. I saw the list of questions earlier and will make sure that friedcat sees them.

I understand that the lack of a dividend payout creates liquidity issues for shareholders. Please be advised that dividend payouts are subject to operational parameters which are hard to predict. The earlier mentioning of an "aggressive" payout schedule was in reference to a communication by friedcat that AM does not plan to expand beyond its basic operation.

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
drawingthesun
Legendary
*
Offline Offline

Activity: 1148
Merit: 1002


View Profile
May 31, 2014, 07:50:32 AM
 #20039

Do you really think that its mood here for huge-ass memes and pictures? Some of us are in 6-7digits loss.

Well that's idiot trolls for you.

When I had a 6 digit loss on ActiveMining it was just months and months of trolls, meme pictures and people that just wanted to rub it in even more.

Welcome to the internet, where your loss is their gain, even if the gain is just a smile on their shitty little faces.
arnuschky
Hero Member
*****
Offline Offline

Activity: 516
Merit: 500


View Profile
May 31, 2014, 09:17:10 AM
 #20040

I agree that the financial statements are a "opaque" to a certain degree. What is clear by now is that friedcat and team decided to move cash into inventory instead of a dividend payout. While a bit of a surprise, it certainly is no reason of concern. There are many reasons to do this, with the most likely one being, that spare, unallocated fab capacity was available, so the company stocked up on inventory. The rationale behind this is likely a supply chain issue of matching short-term demand for chips with supply. I saw the list of questions earlier and will make sure that friedcat sees them.

I think that makes a lot of sense in the market AM is operating. Time is everything in miners, and waiting for the factory to spin up before you can sell another batch does not makes sense.
Pages: « 1 ... 952 953 954 955 956 957 958 959 960 961 962 963 964 965 966 967 968 969 970 971 972 973 974 975 976 977 978 979 980 981 982 983 984 985 986 987 988 989 990 991 992 993 994 995 996 997 998 999 1000 1001 [1002] 1003 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 1026 1027 1028 1029 1030 1031 1032 1033 1034 1035 1036 1037 1038 1039 1040 1041 1042 1043 1044 1045 1046 1047 1048 1049 1050 1051 1052 ... 1348 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!