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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914352 times)
Fordee
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June 14, 2014, 05:17:01 AM
Last edit: June 14, 2014, 05:28:13 AM by Fordee
 #20741

With the recent 51 % news, ASICMiner is the only company right now that can save bitcoin.

I must disagree!

Cool.. is Spondoolies selling cheap chips and providing open source designs too???  

(I have nothing against Spondoolies machines, they look well made and sexy for datacenter stuff..  I just can't afford one, because i've lost 90% my BTC simply by proudly holding my Asicminer shares...  Stockholm syndrome and all that stuff)..
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bitcoin.newsfeed
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June 14, 2014, 05:51:52 AM
 #20742

Network hashing speed crossed 100 Ph

Quote
May-June for air cooling and June-July for immersion cooling. They are only capable of 3PH. Most should go franchising or as chips for other vendors' OEM products.

It would be nice to see live hash meter from ASICminer farm, or does Friedcat want to mine in secret ? its not very honest way to shareholders ... we're waiting so damn long, its summer again.  Undecided

... Question Everything, Believe Nothing ...
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June 14, 2014, 10:24:05 AM
 #20743

Brief Answers to Shareholder Questions

4) When will dividends start, and how frequently will they occur?
When the cash-flow becomes positive. After we decide to put significant quantity of chips on ASICMiner owned farms it should be per week. Before that, per month.


Any updates into where these dates now stand?
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June 14, 2014, 11:05:04 AM
 #20744

Funniest part of that was the clause that $200k deposit is non refundable upon a late bid.
I don't understand, can you clarify please?

1LohorisJie8bGGG7X4dCS9MAVsTEbzrhu
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June 14, 2014, 11:08:32 AM
 #20745

With the recent 51 % news, ASICMiner is the only company right now that can save bitcoin.

I must disagree!

+1

also, nothing to do with hardware manufacturers whatsoever - the bitcoin network hashrate is in the hands of us, the miners of Bitcoin.
mmpool.org just found a block, best time to hop in is the start of a new round! do it now  Wink

tips    1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
bitsalame
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June 14, 2014, 11:10:41 AM
 #20746

Funniest part of that was the clause that $200k deposit is non refundable upon a late bid.
I don't understand, can you clarify please?


He Is talking about the auction of seized silk road bitcoins by US Marshalls.
To participate in the auction you must deposit 200K USD to the federal government. If you bid late, they keep the deposit.
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June 14, 2014, 11:11:57 AM
 #20747

Funniest part of that was the clause that $200k deposit is non refundable upon a late bid.
I don't understand, can you clarify please?

Not upon a late bid, but this:
Quote
Failure to provide the USMS with a copy of the wire transmittal receipt by the deadline will result in disqualification, forfeiture of the deposit, and award to another bidder.
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June 14, 2014, 11:13:19 AM
 #20748

With the recent 51 % news, ASICMiner is the only company right now that can save bitcoin.

The markets are going to need to find a way to fix this issue and I agree if Asicminer hashrate was online and not using Ghash it would be good for the security of the network.

Going to throw in some speculation, think their will be a branching out or fork of the protocol if the 50% concern stays around long enough.

.
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minerpumpkin
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June 14, 2014, 11:21:43 AM
 #20749

It's been a real meltdown on Havelock

I should have gotten into Bitcoin back in 1992...
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June 14, 2014, 11:22:14 AM
 #20750

Brief Answers to Shareholder Questions

4) When will dividends start, and how frequently will they occur?
When the cash-flow becomes positive. After we decide to put significant quantity of chips on ASICMiner owned farms it should be per week. Before that, per month.


Any updates into where these dates now stand?

I don't know if a lot has changed since then. But is it question-time again?

I should have gotten into Bitcoin back in 1992...
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June 14, 2014, 12:09:02 PM
 #20751

Brief Answers to Shareholder Questions

4) When will dividends start, and how frequently will they occur?
When the cash-flow becomes positive. After we decide to put significant quantity of chips on ASICMiner owned farms it should be per week. Before that, per month.


Any updates into where these dates now stand?

I don't know if a lot has changed since then. But is it question-time again?

divs wont come out before all 3 batch are produced and sold. @lastupdate 2 weeks ago, FC was beginning to sell batch2 (60PH). cant say wether he launched 3rd batch or how far did he sold batch 2. remember he said they had some delays in selling chips because of clients not having sufficient ressources and was waiting to see how it would be all sort out before considering launching batch 3.

some update about this would be appreciated although i doubt it because it only has been 2 weeks since the last one.. maybe in a month or so we will have some bone to chew on.
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June 14, 2014, 12:17:20 PM
 #20752

Brief Answers to Shareholder Questions

4) When will dividends start, and how frequently will they occur?
When the cash-flow becomes positive. After we decide to put significant quantity of chips on ASICMiner owned farms it should be per week. Before that, per month.


Any updates into where these dates now stand?

I don't know if a lot has changed since then. But is it question-time again?

divs wont come out before all 3 batch are produced and sold. @lastupdate 2 weeks ago, FC was beginning to sell batch2 (60PH). cant say wether he launched 3rd batch or how far did he sold batch 2. remember he said they had some delays in selling chips because of clients not having sufficient ressources and was waiting to see how it would be all sort out before considering launching batch 3.

some update about this would be appreciated although i doubt it because it only has been 2 weeks since the last one.. maybe in a month or so we will have some bone to chew on.

If I remember correctly, FC was asked how long he anticipates the current batch (#2) to be sold out entirely. One month to 1.5 months was quoted, so if that holds true we shouldn't be seeing batch #3 hit the market for sale until at least start of July. Assuming another 30-45 days for batch #3 to sell and I believe we have early to middle of August before we have income to distribute.

Is anyone else reading the tea leaves differently?
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June 14, 2014, 12:43:47 PM
 #20753

Brief Answers to Shareholder Questions

4) When will dividends start, and how frequently will they occur?
When the cash-flow becomes positive. After we decide to put significant quantity of chips on ASICMiner owned farms it should be per week. Before that, per month.


Any updates into where these dates now stand?

I don't know if a lot has changed since then. But is it question-time again?

divs wont come out before all 3 batch are produced and sold. @lastupdate 2 weeks ago, FC was beginning to sell batch2 (60PH). cant say wether he launched 3rd batch or how far did he sold batch 2. remember he said they had some delays in selling chips because of clients not having sufficient ressources and was waiting to see how it would be all sort out before considering launching batch 3.

some update about this would be appreciated although i doubt it because it only has been 2 weeks since the last one.. maybe in a month or so we will have some bone to chew on.

If I remember correctly, FC was asked how long he anticipates the current batch (#2) to be sold out entirely. One month to 1.5 months was quoted, so if that holds true we shouldn't be seeing batch #3 hit the market for sale until at least start of July. Assuming another 30-45 days for batch #3 to sell and I believe we have early to middle of August before we have income to distribute.

Is anyone else reading the tea leaves differently?

It's getting a little challenging to watch significant movements happening on the periphery while there's no cash flow joy for the core of the business which gives shareholders the impression it's taking a royal dump. Better clarity on how this path is going to benefit the business would be in order. It's one thing to work in your business but more importantly is the focus on your business.
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June 14, 2014, 01:24:06 PM
 #20754

Okay, so we need some clarification on when the revenue will be distributed. I propose the following statement and questions:

Quote
Friedcat, there are still some uncertainties remaining after your last statement. Please understand that we - the shareholders - don't mean to appear greedy, but are merely uneasy given the unforeseeable challenges with gen 3 (increased power consumption, difficulties in May, no anticipated dividends by the end of May) and almost 3 months with no dividends. We also understand that the business and competition has tensed up dramatically and a return of 600% of the IPO price as with gen 1 simply won't be possible anymore. We'd also like to express our appreciation for the increase in communication concerning the Open Source Block Erupter Project.

- What were the unexpected things happening in May that toppled the projected dividends for May?
- Given the ratio of 1/3 retained and 2/3 paid out of the revenue, is this after deducting costs for upcoming batches/expenses or are those part of the 1/3 of retained capital?
- How many PH/s of gen 3 have already been shipped by now?
- Has the "60 PH/s batch" progressed any further? When is it supposed to be completely done? How much has already been sold?
- There are still many uncertainties of when the dividends are supposed to begin again: Is this going to happen during the selling of the "60 PH/s batch"? During the selling, but at the end /begin of the respective month? After the whole batch has been sold? After following batches (financed by that that 60 PH/s batch!?) have been sold completely?
- Could you please provide an estimate on when the first dividend can be expected now - This month? July? Later?
- Could you give us a very rough estimate on when gen 4 can be expected. e.g. is tape-out still expected this year? Q1/2/3/4 next year?

I should have gotten into Bitcoin back in 1992...
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June 14, 2014, 01:47:16 PM
 #20755

Okay, so we need some clarification on when the revenue will be distributed. I propose the following statement and questions:

Quote
Friedcat, there are still some uncertainties remaining after your last statement. Please understand that we - the shareholders - don't mean to appear greedy, but are merely uneasy given the unforeseeable challenges with gen 3 (increased power consumption, difficulties in May, no anticipated dividends by the end of May) and almost 3 months with no dividends. We also understand that the business and competition has tensed up dramatically and a return of 600% of the IPO price as with gen 1 simply won't be possible anymore. We'd also like to express our appreciation for the increase in communication concerning the Open Source Block Erupter Project.

- What were the unexpected things happening in May that toppled the projected dividends for May?
- Given the ratio of 1/3 retained and 2/3 paid out of the revenue, is this after deducting costs for upcoming batches/expenses or are those part of the 1/3 of retained capital?
- How many PH/s of gen 3 have already been shipped by now?
- Has the "60 PH/s batch" progressed any further? When is it supposed to be completely done? How much has already been sold?
- There are still many uncertainties of when the dividends are supposed to begin again: Is this going to happen during the selling of the "60 PH/s batch"? During the selling, but at the end /begin of the respective month? After the whole batch has been sold? After following batches (financed by that that 60 PH/s batch!?) have been sold completely?
- Could you please provide an estimate on when the first dividend can be expected now - This month? July? Later?
- Could you give us a very rough estimate on when gen 4 can be expected. e.g. is tape-out still expected this year? Q1/2/3/4 next year?

I would also ask what the exact status of self-mining and franchising is.
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June 14, 2014, 02:05:02 PM
 #20756

Its just very early for next round of questions, and when I see proposed questions, its all about dividends.

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June 14, 2014, 02:06:08 PM
 #20757

If I remember correctly, FC was asked how long he anticipates the current batch (#2) to be sold out entirely. One month to 1.5 months was quoted, so if that holds true we shouldn't be seeing batch #3 hit the market for sale until at least start of July. Assuming another 30-45 days for batch #3 to sell and I believe we have early to middle of August before we have income to distribute.

Is anyone else reading the tea leaves differently?

I was under the impression that the June batch of approximately 60 PH was the third batch.

According to Jutarul's update from April 21st:

1) What is the status, size, and expected delivery of the next batch of chips? What about the one after that?
re 1) This month: 850k, next month: 3.35m (order size), June: 6.7m (order size), assuming each chip is 10G.

It appears that 67 PH was projected as the June order size at that time, with 109 PH in total production projected for the three month period.  I don't recall seeing any announcements regarding a change to this schedule or a fourth batch being planned.

"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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June 14, 2014, 02:23:45 PM
 #20758

Its just very early for next round of questions, and when I see proposed questions, its all about dividends.

Yes, because that's what currently fuels all the fear around here. We don't know when we can expect something again. It's pages upon pages of speculation when, how much, and what percentage will be paid out as dividends. This is, after all, the reason everyone invests. This is why I wrote in the introduction that we don't mean to appear greedy, but there's been so many things going wrong that we need to know what to expect.

As shawshankinmate correctly points out: There's no batch planned, except for the tentative June batch, that "may be cancelled or postponed". We don't even know how many PH/s that batch is supposed to be.

I should have gotten into Bitcoin back in 1992...
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June 14, 2014, 02:41:30 PM
 #20759

As shawshankinmate correctly points out: There's no batch planned, except for the tentative June batch, that "may be cancelled or postponed". We don't even know how many PH/s that batch is supposed to be.

Sorry if I'm contributing to the confusion, but I don't believe the June batch is tentative.  I believe the 60 PH of chips that are/were in "their final stages of production" is the June batch and I believe that is also the third batch.

1) On the Balance Sheet, approximately how many chips does the current Inventory (Products + Materials + Masks) represent?
A little less than 60P of wafers, most of which are on their final stages of production. The materials consist mainly of lead frames for packaging. The mask is re-usable for years if there are continuing demands for the corresponding wafers.

2) How many months of inventory do you estimate that represents?
Depending on the Bitcoin price. Under this price we expect it to be 1-1.5.

"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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June 14, 2014, 02:56:54 PM
 #20760

As shawshankinmate correctly points out: There's no batch planned, except for the tentative June batch, that "may be cancelled or postponed". We don't even know how many PH/s that batch is supposed to be.

Sorry if I'm contributing to the confusion, but I don't believe the June batch is tentative.  I believe the 60 PH of chips that are/were in "their final stages of production" is the June batch and I believe that is also the third batch.

1) On the Balance Sheet, approximately how many chips does the current Inventory (Products + Materials + Masks) represent?
A little less than 60P of wafers, most of which are on their final stages of production. The materials consist mainly of lead frames for packaging. The mask is re-usable for years if there are continuing demands for the corresponding wafers.

2) How many months of inventory do you estimate that represents?
Depending on the Bitcoin price. Under this price we expect it to be 1-1.5.

That batch surely exists and the first chips may even be finished by now. But friedcat was also talking about another batch:
There still are forecast plans for June we haven't paid for. They may be cancelled or delayed to later months according to how fast customers can turn Bitcoin chips to hashing power.
And that, in fact, is somewhat of a mystery batch. Is it the 'original' June batch? Just another further batch? Was the 60 PH/s batch after all a spontaneous one? - There are speculations that FC may have opted to buy free fabrication time with the revenue that was thought to be paid out as the May 27th dividends.

Also: FC originally planned to pay dividends by May 27. I'm surprised that now everyone thinks we won't see dividends after all batches are though (August, September?).

I should have gotten into Bitcoin back in 1992...
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