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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914350 times)
dhenson
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July 23, 2014, 06:07:09 PM
 #21541

Friedcat has stated that 2/3 of Gen 3 revenue will be paid in dividends (1/3 to pay for 28nm Gen 4), plus all of the franchisee profits.  Once chip prices drop to the point that it will be more profitable to mine, then they are spinning up self mining again.

Gen 3 missed power targets by 100% and communication from friedcat has been woefully inadequate but I wouldn't say that the sky is falling.

I expect an announcement / divs any time and am happy to pick up direct shares until that time.  TBH I've been fairly silent as I was hoping the price would keep sliding (as I'm buying).

I'm starting to feel like Scrooge McDuck swiming in AM shares.
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July 23, 2014, 06:17:26 PM
 #21542

...TBH I've been fairly silent as I was hoping the price would keep sliding (as I'm buying).
...

Your prayers have been answered.  Enjoy.

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July 23, 2014, 09:16:08 PM
 #21543

I love you lambchops

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
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July 23, 2014, 10:28:13 PM
 #21544

I love you lambchops


...play along
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July 23, 2014, 10:36:30 PM
 #21545

I love you lambchops


That's awesome! In midst of everything collapsing at least the people still love one another!
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July 23, 2014, 10:46:38 PM
 #21546

I love you lambchops


You
You belong to me now
Ain't gonna set you free now
When those girls start
Hanging around
Talking me down
Hear with your heart and you won't hear a sound


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July 24, 2014, 02:43:22 AM
 #21547

HashRatio's United Mining (cross post):

https://bitcointalk.org/index.php?topic=706069.msg7980213#msg7980213
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July 24, 2014, 03:18:18 AM
 #21548


Forgive me if I'm mistaken but I still have no confirmation from Friedcat that ASICMiner is getting a steady flow of bitcoins from hashratio's mining farm.

Death is nothing to us, since when we are, death has not come, and when death has come, we are not. #yolo

-Epicuru$
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July 24, 2014, 03:20:14 AM
 #21549

That train has sailed as AM doesn't have the money and the deployment capabilities to deploy a big scale self mining operation. FC could do it right as soon as he had chips in hand, but he didn't do it.

Exactly! Since deploying large amounts of machines is a difficult endeavor, he chose to sell the chips. Unfortunately they didn't perform as well as expected. So now when he's looking for ways to deploy hashrate he has nothing prepared. Man, he was just unlucky.
By the way, what does your name mean. It sounds like you're on the road all day long and when you get home you are completely stressed out!

friedcat was already unable to deploy chips after he maxed out his DC in china with Gen 1.
The fabled immersive DC was built and never used.
The mining franchises honestly struck me as a way for AM to bootstrap their own new companies (free of shareholders) while using company funds to get it done (chips being sold at cost made me consider this even more).
Gen 2 was a wash, Gen 3 was sold at cost frankly I dont see gen 4 doing anything other than failing or being sold at cost again to shell companies.

I dont see AM climbing out from under the thumb of Bitfury+GHash.io who seem to keep an insane amount of hashing power in reserve so they can squash all profitibility of any other mining company by switching them on as the other companies (ie AM) deploy.

mems 2c

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July 24, 2014, 04:05:39 AM
 #21550

That train has sailed as AM doesn't have the money and the deployment capabilities to deploy a big scale self mining operation. FC could do it right as soon as he had chips in hand, but he didn't do it.

Exactly! Since deploying large amounts of machines is a difficult endeavor, he chose to sell the chips. Unfortunately they didn't perform as well as expected. So now when he's looking for ways to deploy hashrate he has nothing prepared. Man, he was just unlucky.
By the way, what does your name mean. It sounds like you're on the road all day long and when you get home you are completely stressed out!

friedcat was already unable to deploy chips after he maxed out his DC in china with Gen 1.
The fabled immersive DC was built and never used.
The mining franchises honestly struck me as a way for AM to bootstrap their own new companies (free of shareholders) while using company funds to get it done (chips being sold at cost made me consider this even more).
Gen 2 was a wash, Gen 3 was sold at cost frankly I dont see gen 4 doing anything other than failing or being sold at cost again to shell companies.

I dont see AM climbing out from under the thumb of Bitfury+GHash.io who seem to keep an insane amount of hashing power in reserve so they can squash all profitibility of any other mining company by switching them on as the other companies (ie AM) deploy.

mems 2c

the fear that this is the situation has been lurking in my mind for some time now. i truly hope it is not really what is going on.

come on Friedcat, give us something. the silence is breeding paranoia in here.
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July 24, 2014, 04:55:07 AM
Last edit: July 24, 2014, 05:07:46 AM by bitsalame
 #21551

That train has sailed as AM doesn't have the money and the deployment capabilities to deploy a big scale self mining operation. FC could do it right as soon as he had chips in hand, but he didn't do it.

Exactly! Since deploying large amounts of machines is a difficult endeavor, he chose to sell the chips. Unfortunately they didn't perform as well as expected. So now when he's looking for ways to deploy hashrate he has nothing prepared. Man, he was just unlucky.
By the way, what does your name mean. It sounds like you're on the road all day long and when you get home you are completely stressed out!

friedcat was already unable to deploy chips after he maxed out his DC in china with Gen 1.
The fabled immersive DC was built and never used.
The mining franchises honestly struck me as a way for AM to bootstrap their own new companies (free of shareholders) while using company funds to get it done (chips being sold at cost made me consider this even more).
Gen 2 was a wash, Gen 3 was sold at cost frankly I dont see gen 4 doing anything other than failing or being sold at cost again to shell companies.

I dont see AM climbing out from under the thumb of Bitfury+GHash.io who seem to keep an insane amount of hashing power in reserve so they can squash all profitibility of any other mining company by switching them on as the other companies (ie AM) deploy.

mems 2c

the fear that this is the situation has been lurking in my mind for some time now. i truly hope it is not really what is going on.

come on Friedcat, give us something. the silence is breeding paranoia in here.

We shouldn't jump into conclusions, and analyze the facts we have so far:
1) There are at least half dozen companies on board, including Allied Control, having an exclusive partnership with AsicMiner.
Even IF they are buying Gen3 chips at cost at this stage (this is based on rumors, officially Friedcat mentioned that this wasn't the case), it is the business relationship that matters.
In the long term, it will be a winning strategy if we get the loyalty of the manufacturers.
And IF the mining farms of these companies are actually AM mining franchises, then selling chips at cost is not really something to concern about, since the revenue wouldn't come from the sales of chips, but from the mining.
2) BitFountain still owns a majority of the shares of AM.
3) Being discovered in shady maneuvers would undermine severely the hard earned reputation that Friedcat has painstakingly built, trust is the most important capital, more valuable than money.
IF Friedcat is really a wise long term thinker, will know that he has more to gain from honest deals than using subterfuges that would endanger his present business relationships and future ventures.
By doing things right, still can make a shitton of money with his existing AM stakes.

That's the most likely interpretation based on what we have so far.

Would greed push Friedcat to have higher gains in the short-term endangering a legitimate business model mortgaging his future growth by creating shell companies to funnel profits away from original shareholders, when you have all the right pieces to be a leading player in the market by just playing by the rules? It is not really worth it.
All the negative hypotheses don't seem to take into account these facts, and are only fueled by fear and uncertainty.
If we must use Occam's razor, we should conclude that Friedcat is here for the long game, and had to pivot several times to adapt to stay competitive in the current context.
The negative scenario proposed by mem is a unnecessary over-complication to explain the current situation, unless there is a hard evidence that would support any of the accusations.

Friedcat's silence is not a valid admissible evidence.

Having said that, I am freaking scared about the potential negative scenario, but just one round of dividends would be enough to make the share prices to jump back at 1+ btc/share... depending on how big is the dividend per share, of course.
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July 24, 2014, 05:28:18 AM
 #21552

Friedcat's silence is not a valid admissible evidence.

I think that approach is wrong.

I'd say that in investing or any situation where your counter-party stands to gain if they cheat you, rather than assuming someone is trustworthy and looking for reasons not to trust them, you assume the opposite and then look for examples of trustworthy behaviour.

When the person is only known to you by a forum nickname and they live in a country with far different laws and culture about ethical behaviour, you need to see evidence that proves trust, you need to see a lot of it, and you need to see it regularly.

I know, friedcat has done plenty of things in the past that demonstrated that he should be trusted. But what has he done recently? Circumstances change. People change. I've been burned big-time by someone on this forum, after earlier trusting them, and having a great deal of respect for their ability. They dealt with their investors fairly, right up until the point they screwed them.

Disclaimer: previous AM shareholder, not a current shareholder.

 
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bitsalame
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July 24, 2014, 05:37:58 AM
Last edit: July 24, 2014, 06:20:53 AM by bitsalame
 #21553

Friedcat's silence is not a valid admissible evidence.

I think that approach is wrong.

I'd say that in investing or any situation where your counter-party stands to gain if they cheat you, rather than assuming someone is trustworthy and looking for reasons not to trust them, you assume the opposite and then look for examples of trustworthy behaviour.

When the person is only known to you by a forum nickname and they live in a country with far different laws and culture about ethical behaviour, you need to see evidence that proves trust, you need to see a lot of it, and you need to see it regularly.

I know, friedcat has done plenty of things in the past that demonstrated that he should be trusted. But what has he done recently? Circumstances change. People change. I've been burned big-time by someone on this forum, after earlier trusting them, and having a great deal of respect for their ability. They dealt with their investors fairly, right up until the point they screwed them.

Disclaimer: previous AM shareholder, not a current shareholder.

We gotta wait and see.
But it is hard to dismiss the fact that more companies are becoming clients of AsicMiner, that they are getting chips, they are selling miners, and that they are building farms with AM chips.
It is not that we are waiting idle with no news at all about the activities of the company. The company is still alive, and it is evident that they are still working.
Btw, you can also see the thread where AM is open sourcing the miner's designs (https://bitcointalk.org/index.php?topic=641957.msg7168771#msg7168771)
You can clearly see his philosophy through his working.
webbrowser
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July 24, 2014, 05:55:41 AM
 #21554

friedcat was already unable to deploy chips after he maxed out his DC in china with Gen 1.
The fabled immersive DC was built and never used.

Umm. I don't think friedcat was unable to deploy chips; rather the experience of self-mining vs quick wins of selling Gen 1 chips tilted the strategy towards selling future chips. Maybe he should have kept some flexibility, especially when Gen 2 failed and it became clear that Gen 3 was coming a bit late to the party.

The immersion DC was populated with Gen1 chips, up to the point where Gen 1 became unprofitable.

I dont see AM climbing out from under the thumb of Bitfury+GHash.io who seem to keep an insane amount of hashing power in reserve so they can squash all profitibility of any other mining company by switching them on as the other companies (ie AM) deploy.

Why do you would think that? If they had all that hash power and deployment opportunities available, they could deter R&D investments by other asic manufacturers, capture a larger share of the mining rewards, and start up an anonymous alternate pool (taking the 50% heat off ghash.io),
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July 24, 2014, 07:02:36 AM
 #21555

I think its too late for ASICMINER, they've made some huge mistakes and have left it too late. ASICMINER was once a great company but they are now the myspace of the bitcoin world.


*Disclaimer: Use to own over 200 shares, have been dumping looking to dump my last 50.
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July 24, 2014, 07:29:51 AM
 #21556

Disclaimer: Calm down and wait for a statement from Friedcat.  Roll Eyes
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July 24, 2014, 07:42:27 AM
 #21557

Friedcat's silence is not a valid admissible evidence.

Having said that, I am freaking scared about the potential negative scenario, but just one round of dividends would be enough to make the share prices to jump back at 1+ btc/share... depending on how big is the dividend per share, of course.

You think one round of divs is enough to pump this stock up nearly 750%, giving company valuation around 250 mill, pretty much the level of LTC market cap..In this climate? It would have to be a pretty large dividend

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July 24, 2014, 09:51:36 AM
 #21558

the fear that this is the situation has been lurking in my mind for some time now. i truly hope it is not really what is going on.

come on Friedcat, give us something. the silence is breeding paranoia in here.
hope = fail
silence = scam

look with your eyes.

1LohorisJie8bGGG7X4dCS9MAVsTEbzrhu
DefaultTrust is very BAD.
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July 24, 2014, 10:35:04 AM
Last edit: July 24, 2014, 11:16:45 AM by hdbuck
 #21559

Friedcat's silence is not a valid admissible evidence.

Having said that, I am freaking scared about the potential negative scenario, but just one round of dividends would be enough to make the share prices to jump back at 1+ btc/share... depending on how big is the dividend per share, of course.

You think one round of divs is enough to pump this stock up nearly 750%, giving company valuation around 250 mill, pretty much the level of LTC market cap..In this climate? It would have to be a pretty large dividend

well that would be considering BCT price would sustain at these levels... if it crashes, AM up?  Roll Eyes
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July 24, 2014, 11:00:45 AM
Last edit: July 24, 2014, 12:12:48 PM by hdbuck
 #21560

We gotta wait and see.
But it is hard to dismiss the fact that more companies are becoming clients of AsicMiner, that they are getting chips, they are selling miners, and that they are building farms with AM chips.
It is not that we are waiting idle with no news at all about the activities of the company. The company is still alive, and it is evident that they are still working.
Btw, you can also see the thread where AM is open sourcing the miner's designs (https://bitcointalk.org/index.php?topic=641957.msg7168771#msg7168771)
You can clearly see his philosophy through his working.

THIS.
Company is real. Still enfant (2 yo) but rocksolid with top notch partners (Datamining, TSMC...).
Bitfountain still has a huge stake in it. I dont think they want their shares worth peanuts.
Crowdsourcing/funding philosophy (quite the essence of bitcoin) vs private companies.
Sure they may have had a hard time because you can never get it 100% right in this industry (specs, delays...)
Still they have produced over 60Ph. Whether selling, franchising, solomining, they are going to be plugged in.

PS: I have to admit I am quite stressed with the current price but i aint selling nothing. Got over 200 shares and i will wait for gen 4 if necessary although we shall have divs outta gen3 at some point. Just need to be patient. The mining industry is just getting started. I dont think Intel, Apple or any other successful technological company ever distributed weekly divs (not even yearly in their infancy..).  Peace.
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