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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914350 times)
JoTheKhan
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July 16, 2014, 10:53:56 AM
 #21401

So pretty.

When those things become obsolete  I'm probably going to have to buy one and put it on my desk (Hopefully for cheap). It looks fucking awesome.
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July 16, 2014, 12:25:28 PM
 #21402

Hi. I haven't been on this forum for like, forever.

Can anyone explain real quick the current status of this feline (ad)venture and the dividend situation?

BTC: 19dB148YewttZRVwF7WF8ZuT7uqnnjibkC
LTC: LPBi1LPqs1MY1tQKQ4wGG6gjwrcszFek6s
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July 16, 2014, 12:44:27 PM
 #21403

For those curious on HashRatio's Farm (and potentially AM franchisee1):

http://v.youku.com/v_show/id_XNzQwNjcxNDM2.html

Some key points:
- HashRatio Interview starts @ 25:30
- Hardware is seen @ 27:00
- Interviewee mentions the figure of "700" @ 27:58
- Interviewee mentions the figure of "7" and "150" @ 28:54
- 2nd Person arrives @ 29:40
- Short interview piece with 2nd Person @ 30:00
- Bitcoin brotherly love exhibited @ 30:27
- Interview ends @ 30:55

It would be appreciated if any Mandarin Japanese speaker/shareholder could provide a transcript of the piece.

1It is rumored that HashRatio is a AM franchisee; not officially confirmed

EDIT: Corrected the language, apologies for any confusion/offense

OK, I'm home, just watched through the video. I think I've got 95% of this right, bits I'm unsure about are in red.
Open to any corrections of course.
I've tried to stay fairly literal with the translation. Note that the narrator says "factory" to mean "farm", and "computer" to mean "miner".

starting @25:30
Narrator : Not just a get-rick-quick dream - bitcoin mining. After some negotiations, we made contact with one of the best mining groups in China. Among them is Mr. Choto 趙東 (actual Chinese reading might sound slightly different). He was working as a computer engineer before. Today, Mr choutou is headed to Yamai-town, 500km from Beijing. In this place, he says there's a secret factory for mining.

Mr. Choto : The site of the mining factory is a secret for safety reasons. Please don't film around here.

Narrator : It's said that the Chinese mine 300 billion yen worth of bitcoin per year. What on earth kind of site could this be?

Mr. Choto : This is the mining factory.

Narrator : At first glance it looks like a normal warehouse but, upon looking inside there were countless computers lined up. The number of units is approximately 6,000. "Mining" is doing special calculations. The faster these calculations can be done, the bigger the profits will become.

Mr. Choto : This one is amazing. It calculates incredibly fast. Altogether this factory can acquire around 7 million yen worth of bitcoin in one day.

Narrator : Mr. Choto started mining in April of last year. At that time, he was operating with two computers in his home. One year later, it's become a 24 hour mining operation cooled by huge fans. The total profit at this stage has reached 20 billion yen. Why have they made this factory in the countryside, 500km away from Beijing? The reason is the cheap price of electricity.

Mr. Choto : It uses around 70,000 yen per hour, so in a day that exceeds 1,500,000 yen. In a month ... I can't figure it *chuckles*

Narrator : Mr. choto says bitcoin is something he's invested (bet) his life on.

Mr. Choto : Not to venture anything is the greatest risk. Bitcoin is a revolutionary technology. And I've been given this revolutionary chance. I can't let go of it.

Narrator : Today, one of his mining colleagues has come to visit from Beijing. Alone it's hard to beat the competition, so Mr. Choto carries out his mining in conjunction with others.

Other dude : I'm here to compete. People who don't want to fight it out should go and do something else.  ...  Thanks a lot, see you in Beijing.

Narrator : The computer operation known as mining is producing a lot. What we see from this site in China is that (bitcoin is) far removed from traditional currencies as a means of exchange.

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July 16, 2014, 01:23:56 PM
 #21404

Hi. I haven't been on this forum for like, forever.

Can anyone explain real quick the current status of this feline (ad)venture and the dividend situation?

No dividends yet (it has been a long time - not sure when you stopped checking your divs address).

The latest set of shareholder questions were posed to FC - we are waiting for responses.

Gen 3 chips all over the place, various franchises seem to be in play.
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July 16, 2014, 01:32:26 PM
 #21405

HashRatio's Updated Mine (now with EdenTech hardware):

Before: http://ww3.sinaimg.cn/mw690/62d41719jw1eievhu3dm5j20hs0dcgmu.jpg

After: http://ww1.sinaimg.cn/mw690/62d41719jw1eieviieycbj20hs0dcwfu.jpg

It's quite the sight.
JoTheKhan
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July 16, 2014, 01:50:43 PM
 #21406

Mr. Choto : This one is amazing. It calculates incredibly fast. Altogether this factory can acquire around 7 million yen worth of bitcoin in one day.

Am I off by some factor, or is that approximately 1000BTC/day? Sounds like he is slightly exaggerating. But not sure what I can expect from someone having trouble multiplying 1.5 with 30...

If this were a franchise, than they are loosing money, for all I can see, as 70000 yen per hour for electricity is ~25% of the income.

68.7K @600 BTC is a little over ~100BTC

With ~15K spent a day in electricity
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July 16, 2014, 02:48:15 PM
 #21407

This update is a bit late but the supposed, acquired site of HashRatio (updated as of June 28th):

Picture 1: https://i.imgur.com/EZQu7wE.png
Picture 2: http://ww2.sinaimg.cn/mw1024/62d41719jw1ehtv0if1vhj20hs0dc0un.jpg
Picture 3: http://ww1.sinaimg.cn/mw1024/62d41719jw1ehtv0lgm3bj20hs0dcq4a.jpg
Picture 4: http://ww2.sinaimg.cn/mw1024/62d41719jw1ehtv0ptsfpj20hs0dcdhv.jpg
Picture 5: http://ww4.sinaimg.cn/mw1024/62d41719jw1ehtv1eemivj20hs0dcgno.jpg

Location Info:
Size - 24,000 m2
Power - est. 100,000 kW
Miner Capacity - 100,000


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July 16, 2014, 04:13:12 PM
Last edit: July 16, 2014, 04:24:29 PM by itamidensha
 #21408

If this were a franchise, than they are loosing money, for all I can see, as 70000 yen per hour for electricity is ~25% of the income.

The franchise formula subtracts a 15c/kWh allowance for electricity expenses before applying the 80/20 split.
15c/kWh seems pretty generous. I'm guessing these hashratio guys would be paying around a third of that rate.

We provide: whole mining device excluding PSU.
You provide: PSU, location, operation.

On each difficulty change, you pay us:

(x - 4.59*10^(-5)*t/y)*80% in which
x = 100% PPS of 850G
y = Bitcoin exchange rate on bitstamp
t = seconds in the last round
This is per device.
4.59*10^(-5) is electricity cost per second assuming power is 0.15$/kwh and each device draws 1.1kw.

If (x - 4.59*10^(-5)*t/y)*80% is already equal to or less than zero, or after three months and you decide that the project should discontinue, you can either sell them at market price (which is agreed by us) and pay us 80% of the sold value, or ship them back to us.

After that we give the deposit back to you.


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bkminer
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July 16, 2014, 11:16:43 PM
 #21409

HashRatio's Updated Mine (now with EdenTech hardware):

Wow, that's why edentech's English site hasn't come online and their sales guys never emailed me back.... their entire stock was bought by HashRatio!!!

*sigh* I'll have to wait for one of those beautiful boxes  Shocked That's ok it's all money to AM  Cool
SaintFlow
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July 17, 2014, 03:31:53 PM
 #21410

come on "friedcat" - if you have no info say so and tell us why!

don't let me make you question your assumptions
CanaryInTheMine
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July 17, 2014, 03:43:01 PM
 #21411

Bipolar disorder is abundant here...
SaintFlow
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July 17, 2014, 03:44:47 PM
 #21412

i would rather say polarity is dependend on stock movement direction

don't let me make you question your assumptions
CanaryInTheMine
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July 17, 2014, 03:48:14 PM
 #21413

i would rather say polarity is dependend on stock movement direction
Movement had been flat... But the bipolar antics never fail here Smiley
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July 17, 2014, 03:51:42 PM
 #21414

What are the plans for MOORE?

CanaryInTheMine
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July 17, 2014, 03:59:33 PM
 #21415

What are the plans for MOORE?
Wait for 10 Smiley
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July 17, 2014, 04:49:02 PM
 #21416

What are the plans for MOORE?
Wait for 10 Smiley

10nm?
cs54
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July 17, 2014, 05:15:10 PM
 #21417

My understanding is that the last time Friedcat answered questions, those questions were sent to him on June 1 and answered on June 5th.

This time, questions were sent to Friedcat on June 29th and we've had 18 days of silence. 

If anyone is being bipolar around here I would say that's the reason, and a defensible one.  The unpredictability is a tough pill to swallow.
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July 17, 2014, 05:24:38 PM
 #21418

DELETED. I lost my cool for a second. Sorry.

Will take me a while to climb up again, But where is a will, there is a way...
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July 17, 2014, 05:43:00 PM
 #21419

My understanding is that the last time Friedcat answered questions, those questions were sent to him on June 1 and answered on June 5th.

This time, questions were sent to Friedcat on June 29th and we've had 18 days of silence. 

If anyone is being bipolar around here I would say that's the reason, and a defensible one.  The unpredictability is a tough pill to swallow.



Your understanding is correct. Friedcat has decided not to answer the current round of questions until the opportune time, which only he is going to be privy to. So whether it is bad news he is holding back to mitigate damage or he is waiting for the right moment to reveal his continued mastery of the world of ASIC, we will have to wait to find out. If you have faith in the company you are happy to wait and see the fruits of ASIC MINER's labour.



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July 17, 2014, 06:02:11 PM
 #21420

My understanding is that the last time Friedcat answered questions, those questions were sent to him on June 1 and answered on June 5th.

This time, questions were sent to Friedcat on June 29th and we've had 18 days of silence. 

If anyone is being bipolar around here I would say that's the reason, and a defensible one.  The unpredictability is a tough pill to swallow.



Your understanding is correct. Friedcat has decided not to answer the current round of questions until the opportune time, which only he is going to be privy to. So whether it is bad news he is holding back to mitigate damage or he is waiting for the right moment to reveal his continued mastery of the world of ASIC, we will have to wait to find out. If you have faith in the company you are happy to wait and see the fruits of ASIC MINER's labour.

screw the questions. they dont impact AM's share value.. instead, lets have some mid-summer divs, shall we? Cheesy
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