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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914431 times)
Anotheranonlol
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June 03, 2014, 10:21:58 PM
 #20421

Quote
AM cannot compete with Bitfury. their plans is to have better heat efficiency than nearby google DC

What exactly does this mean?

Are you talking about PUE or w/gh?

Also source?

Heat recovery efficiency
BitFury using oil immersion too, and 20MW plant, larger than KNC
when gen3 chips come in AM can have a little trouble on their hands

Does bitfury beat AM's existing farm?  https://www.youtube.com/watch?v=oZavKweMrP4  Yes, that is a current AM mining farm...

AM farm certainly look sexy, but it's not fashion contest

here is more like bitfury's DC


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Chris_Sabian
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June 03, 2014, 10:33:46 PM
 #20422

Speaking of BitFury: http://dcmagnates.com/bitfury-secures-20m-in-funding-half-from-gcf/
Anotheranonlol
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June 03, 2014, 10:41:20 PM
 #20423


and they are seeking to acquire other bitcoin mining companies , maybe shareholders here can cross fingers for a buyout

jimmothy
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June 03, 2014, 10:49:28 PM
 #20424


and they are seeking to acquire other bitcoin mining companies , maybe shareholders here can cross fingers for a buyout

Please share your sources.

That seems like a bad strategy. What would they have to gain from buyouts?
Satan666
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June 03, 2014, 10:50:21 PM
 #20425

and they are seeking to acquire other bitcoin mining companies , maybe shareholders here can cross fingers for a buyout

I don't think BitFury can afford .2 BTC per share.  They could afford BFL.
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June 03, 2014, 10:52:03 PM
 #20426


and they are seeking to acquire other bitcoin mining companies , maybe shareholders here can cross fingers for a buyout

Are you so sure?

See here: http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370541972520#.U44_ImeKDmg

Bitfury used Picostocks/100 TH/s as a cover to get funding on their chip production. The difference here is while AM IPO investors got their money back, there are still LOTS of IPO investors screwed over from their 100 TH/s IPO. Will the VC's still stick around if the SEC starts digging and finds something rotten beneath the covers?

Heck, the SEC is even offering potential 10-30% reward of any reported scams over $1,000,000....

RoadStress Sock Puppet
Anotheranonlol
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June 03, 2014, 11:01:47 PM
 #20427


and they are seeking to acquire other bitcoin mining companies , maybe shareholders here can cross fingers for a buyout

Are you so sure?

See here: http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370541972520#.U44_ImeKDmg

Bitfury used Picostocks/100 TH/s as a cover to get funding on their chip production. The difference here is while AM IPO investors got their money back, there are still LOTS of IPO investors screwed over from their 100 TH/s IPO. Will the VC's still stick around if the SEC starts digging and finds something rotten beneath the covers?

Heck, the SEC is even offering potential 10-30% reward of any reported scams over $1,000,000....

also chief executive of Bitfury have former affiliations with "Marketplaces that Facilitate Global Piracy and Counterfeiting"

http://www.ustr.gov/about-us/press-office/press-releases/2012/december/ustr-announces-results-special-301

I don't think these investor will care, they turn $20 million into $250 million as if by magic, so those things can sometimes get 'glossed over' . Bitfury's goal is to work towards going public on US stock markets

but maybe you can send a tip off for a nice payday and everything will be cancelled?

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June 03, 2014, 11:10:01 PM
 #20428

also chief executive of Bitfury have former affiliations with "Marketplaces that Facilitate Global Piracy and Counterfeiting"

http://www.ustr.gov/about-us/press-office/press-releases/2012/december/ustr-announces-results-special-301

I don't think these investor will care, they turn $20 million into $250 million as if by magic, so those things can sometimes get 'glossed over' . Bitfury's goal is to work towards going public on US stock markets

but maybe you can send a tip off for a nice payday and everything will be cancelled?

Well I don't care but the 100 TH/s IPO investors would. Their money was used on chip production and they even haven't received the mine that they were entitled to (as listed in the IPO contract, which was supposed to be mining by July 2013). And now Bitfury, who took their money, now receives $20 million and they're left with jack? I'm sure that will go over well on the "public US stock markets." VC's don't like any surprises...

Why would I send in a tip? That would be cheating  Tongue Wink

But if you found out that someone scammed money from you and they were able to turn that money into $20 million for a "$250 million company" and you could prove it a court of law (they're a U.S. based company btw), would you really just walk away?

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June 03, 2014, 11:58:20 PM
 #20429

Well I don't care but the 100 TH/s IPO investors would. Their money was used on chip production and they even haven't received the mine that they were entitled to (as listed in the IPO contract, which was supposed to be mining by July 2013). And now Bitfury, who took their money, now receives $20 million and they're left with jack? I'm sure that will go over well on the "public US stock markets." VC's don't like any surprises...

Why would I send in a tip? That would be cheating  Tongue Wink

But if you found out that someone scammed money from you and they were able to turn that money into $20 million for a "$250 million company" and you could prove it a court of law (they're a U.S. based company btw), would you really just walk away?


Let's check out a few things, shall we?

100 TH/s IPO shares - 518271 @ .04 BTC/share = 20730.84 BTC collected

"IPO Business Plan" - Claims to start mining by July '13 -> Actually doesn't start mining until Sept '13 because of "delays"

Meanwhile, Buzzdave is pimping Bitfury sales hard in the Mining hardware subforum here on July 7th 2013.

As we all know, Bitfury dumps TH/s onto the network last fall.

Meanwhile, IPO investors are getting daily div payments of 0.00001512 since Sept '13. It might take awhile to hit 0.04, huh? That's about 7 years if the difficulty doesn't change (LOL!).

Yep, I'd be a happy investor too. I OBVIOUSLY WOULDN'T TAKE ANY LEGAL RECOURSE AGAINST THEM EITHER, RIGHT ANOTHERANONLOL?!  Wink Tongue

Mining companies that take money but fail to produce something is one thing, but a mining company that takes money from you, becomes successful, and then SCREWS the investors that made it possible...?

Yep, I think they would still be happy and not say a word. I mean, what's 10-30% of the collected fines from "$250 million dollar company" right? It's all sunshine and rainbows for Bitfury...  Grin Cheesy Wink Tongue

RoadStress Sock Puppet
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June 04, 2014, 12:17:28 AM
Last edit: June 04, 2014, 03:22:49 AM by kaerf
 #20430

Well I don't care but the 100 TH/s IPO investors would. Their money was used on chip production and they even haven't received the mine that they were entitled to (as listed in the IPO contract, which was supposed to be mining by July 2013). And now Bitfury, who took their money, now receives $20 million and they're left with jack? I'm sure that will go over well on the "public US stock markets." VC's don't like any surprises...

Why would I send in a tip? That would be cheating  Tongue Wink

But if you found out that someone scammed money from you and they were able to turn that money into $20 million for a "$250 million company" and you could prove it a court of law (they're a U.S. based company btw), would you really just walk away?


Let's check out a few things, shall we?

100 TH/s IPO shares - 518271 @ .04 BTC/share = 20730.84 BTC collected

"IPO Business Plan" - Claims to start mining by July '13 -> Actually doesn't start mining until Sept '13 because of "delays"

Meanwhile, Buzzdave is pimping Bitfury sales hard in the Mining hardware subforum here on July 7th 2013.

As we all know, Bitfury dumps TH/s onto the network last fall.

Meanwhile, IPO investors are getting daily div payments of 0.00001512 since Sept '13. It might take awhile to hit 0.04, huh? That's about 7 years if the difficulty doesn't change (LOL!).

Yep, I'd be a happy investor too. I OBVIOUSLY WOULDN'T TAKE ANY LEGAL RECOURSE AGAINST THEM EITHER, RIGHT ANOTHERANONLOL?!  Wink Tongue

Mining companies that take money but fail to produce something is one thing, but a mining company that takes money from you, becomes successful, and then SCREWS the investors that made it possible...?

Yep, I think they would still be happy and not say a word. I mean, what's 10-30% of the collected fines from "$250 million dollar company" right? It's all sunshine and rainbows for Bitfury...  Grin Cheesy Wink Tongue

OT:
FYI, the 100TH mine paid back dividends totaling the 0.04 BTC/share on Dec 27th 2013 (https://picostocks.com/docs/index/19). Note: it was the 100TH mine not 500TH mine...Tytus did not have to provide 5X the original promised hash rate but did. Initial investors were not shafted....now if you bought during the crazy spikes that's a different story.

Back on topic.

The fact that BF has raised $20M indicates they are going to aggressively expand. AM's growth is limited by how much money it is willing to spend vs payout in divs. If we want divs, then we have to give up growth...conversely, if we want growth we have to give up divs (and/or get outside funding).

EDIT: fixed repetitive sentence
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June 04, 2014, 01:35:01 AM
 #20431

Back on topic.

The fact that BF has raised $20M indicates they are going to aggressively expand. AM's growth is limited by how much money it is willing to spend vs payout in divs. If we want growth, then we have to give up divs...conversely, if we want growth we have to give up divs (and/or get outside funding).


agreed.  if divs are hurting the company we should be able to hang tight without dumping shares the next day.  most companies don't pay divs often. 

but also let's get some cash flowing through, it's not the dividends that are hurting us, it's the huge waits.. january 20th was supposed to be tapeout and it was overdue back then. 

I hope AM can really pump out the chips, completely flood the market.  do that all year and pay us at christmas time, that I'd like to see.
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June 04, 2014, 03:50:08 AM
 #20432

These times are merely a test of faith.

LOL

That was a well needed good laugh.
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June 04, 2014, 03:57:19 AM
 #20433

These times are merely a test of faith.

Bows down
I'm hanging around with Jesus Christ on the Bitcointalk forum
Woot Woot Smiley

A well needed laugh indeed

.
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🏰 TradeFortress 🏰
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June 04, 2014, 03:57:30 AM
 #20434

Anyone know how long direct share transfers take?
skitchen
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June 04, 2014, 04:16:51 AM
 #20435

Anyone know how long direct share transfers take?

How long will it take to repay those you stole from? (Yeah, me included)
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June 04, 2014, 04:18:44 AM
 #20436

Anyone know how long direct share transfers take?

The actual tradefortress wouldn't have asked this question... no point in berating the guy, it's not him.
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June 04, 2014, 04:21:36 AM
 #20437

Anyone know how long direct share transfers take?

The actual tradefortress wouldn't have asked this question... no point in berating the guy, it's not him.

Good point, what a bizarre situation.
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June 04, 2014, 05:49:43 AM
 #20438

My board contact says FC intends to flood market.

Non-technical coin. Use OZC to intro coins to everyday aussies: http://ozziecoin.com
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June 04, 2014, 06:07:07 AM
 #20439

My board contact says FC intends to flood market.

Let's see if he succeeds with last years power consumption chips.

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June 04, 2014, 06:10:01 AM
 #20440

My board contact says FC intends to flood market.

Let's see if he succeeds with last years power consumption chips.

he is, in essence; succeeding so far... ploughing other peoples dividends into a long... yellow brick road and giving no update or explanation as to why he thinks this is prudent.

"I had your dividends, but I spent them." is as much as I can decipher so far, from this particular debacle.

tips    1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
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