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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914269 times)
bitsalame
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September 02, 2014, 05:28:35 PM
 #22621

I would suggest Friedcat to hire some Executive Coaching.
I think that he might be a splendid engineer, but lack managerial skills/business acumen to take the company to the next level.
Either that or hire a CEO. Many technical founders become CTOs, and that's nothing wrong with it.

Brilliant engineer, yes.  Needs MBA and with his one-in-a-billion resume could get into the very best programs in the world.

Doesn't need MBAs, just executive coaching... but that is only if he really wants to delve deeper into the boring executive role.
I know that most creative guys prefer to be on more creative roles, such as strategic product design, or any area that is orbiting their main skills and areas of interest.
Very simple rule of thumb: Keep core competence, delegate incompetence.
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September 02, 2014, 05:53:19 PM
 #22622

I would suggest Friedcat to hire some Executive Coaching.
I think that he might be a splendid engineer, but lack managerial skills/business acumen to take the company to the next level.
Either that or hire a CEO. Many technical founders become CTOs, and that's nothing wrong with it.

Brilliant engineer, yes.  Needs MBA and with his one-in-a-billion resume could get into the very best programs in the world.

Doesn't need MBAs, just executive coaching... but that is only if he really wants to delve deeper into the boring executive role.
I know that most creative guys prefer to be on more creative roles, such as strategic product design, or any area that is orbiting their main skills and areas of interest.
Very simple rule of thumb: Keep core competence, delegate incompetence.

Nah - from everything I've seen, its 'mentor core competence', 'source incompetence closely so as to learn'.  This will be especially effective in the coming years if AM is to survive.  If friedcat wants to continue growth in the cryptosphere, yes, he's going to need to delegate, but the team ("C-suite", for all intents and operational purposes) which he would assemble has to be able to maximize the economies of skill across their respective backgrounds to learn the business as a cohesive unit rather than a commodity-skills-modeled assembly of disinterested individuals.
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September 02, 2014, 06:38:34 PM
 #22623

Coindesk Today:

Huobi’s Fixed-Return Financial Product Sells Out in One Hour

link: http://www.coindesk.com/huobis-fixed-return-financial-product-sells-one-hour/


ASICMINER related quote:

Digcoin has arrangements with Chinese mining equipment manufacturers Avalon and AsicMiner, among others. It is part of the Discus Fish mining pool and sends funds to a publicly released address. At current strength it mines about 28 BTC per day.


So here is that...

Anyone cares to estimate the size of the sellout of Huobi's DIGCOIN/DIG-VC that happened today ? And also how much revenue that could have generated for Asicminer ?


Instead of pasting text from the article, here the article link again: http://www.coindesk.com/huobis-fixed-return-financial-product-sells-one-hour/

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September 02, 2014, 06:52:27 PM
 #22624

Coindesk Today:

Huobi’s Fixed-Return Financial Product Sells Out in One Hour

link: http://www.coindesk.com/huobis-fixed-return-financial-product-sells-one-hour/


ASICMINER related quote:

Digcoin has arrangements with Chinese mining equipment manufacturers Avalon and AsicMiner, among others. It is part of the Discus Fish mining pool and sends funds to a publicly released address. At current strength it mines about 28 BTC per day.


So here is that...

Anyone cares to estimate the size of the sellout of Huobi's DIGCOIN/DIG-VC that happened today ? And also how much revenue that could have generated for Asicminer ?


Instead of pasting text from the article, here the article link again: http://www.coindesk.com/huobis-fixed-return-financial-product-sells-one-hour/


"Digcoin is raising investment to significantly increase its overall hashing power. It currently stands at 1.3 PH/s (petahashes per second), or 2.5% of the bitcoin network’s global hash rate. It is seeking to raise that power to 4 PH/s."

2.5%?even 4PH isnt 2.5% right now
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September 02, 2014, 07:34:42 PM
 #22625

Quote
2.5%?even 4PH isnt 2.5% right now

correct.

The sale from today was 2000 shares 1 btc each which makes 2000 btc of contracts.
For a ballpark estimate, at first, I was tempted to get those 2000 btc and divide by 7.9 btc (price of one AM tube set) which gives ~ 253 sets. Then if one set is ~ 700-800 GH/s we have ~ 200 TH

BUT

These contracts are just some kind of rental agreement / capital raise for 60 days... The contract purchaser does not own the equipment...

But we can at least hope that the capital raised via this sale, these 2000 btc has been heading towards the 7.9 btc AM Tubes... And maybe this is only the beginning ?! AM supporters I am sure hope so.

200 TH can easily become 1 PH seeing the stellar success of today's Dig-VC SALE :
50% of the 2000 BTC was sold in the first 2 minutes!
The rest 50%=1000 BTC changed hands in 1 hour from the start.

Most of it was bought by Chinese/Asians the article says...




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September 02, 2014, 07:51:05 PM
 #22626

Quote
2.5%?even 4PH isnt 2.5% right now

correct.

The sale from today was 2000 shares 1 btc each which makes 2000 btc of contracts.
For a ballpark estimate, at first, I was tempted to get those 2000 btc and divide by 7.9 btc (price of one AM tube set) which gives ~ 253 sets. Then if one set is ~ 700-800 GH/s we have ~ 200 TH
.
.
One AM Tube Set is 40 hashing boards or 10 Tubes, each Tube hashing at ~800GH/s.
So AM Tube Set is ~8000GH/s (8TH/s).
253 sets is 2024 TH/s.

 Wink correct your post so I can delete this
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September 02, 2014, 08:08:52 PM
 #22627

I wonder whether AM is mining using the Tubes or are they using bigger miners specifically designed for large scale operations? I don't think it makes sense to use those rather small miners when you can specifically design a larger more effective miner!

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September 02, 2014, 08:30:19 PM
 #22628

Why do you or AM shareholder in general think that I have a lot of hate towards AM?

Because you keep making up shit about AM and try to pass it off as facts.

Please contradict my shit with real world facts. Where is AM now in the mining world? AM is a small player when it comes to self mining and when it comes to consumer business. They had/have some business 2 business contracts, but nothing big. Does AM compare to Bitfury, KnC, BITMAIN? I don't think so. Again, if you can contradict me with real world facts please do, but if you plan to just insult me then just don't bother replying.

What's the speed of AM self mining? Nobody knows. What's the speed of Bitfury's self mining? Nobody knows, but it's the highest % of the network. These are the big boys. AM is just playing in the sand at this moment.

So, you admit you have no idea how much hashing power AM are mining with then proceed to call them little kids playing in the sand. The only thing you do know is that they had 60 Ph/s worth of BE200 ASICs back in June. That's almost 1/3 of the network hash rate today.

Clearly small potatoes.  Roll Eyes[/quote]

You want to bring that up? Sure. Let's bring the 60PH/s of chips issue again to discussion. At 0.5$/GH you need 120M$ just for the miners, not counting the deployment costs if you do it on a large scale and I find really hard to believe that there are so much money flowing into mining with this exchange rates and in such short amount of time.

If AM had a lot of self mining hashing power they would brag about it right away. Why don't you add all the known big miners along with the public pools to see how much is left for AM. Put Bitfury at 50%, KnC at 5-10%, BITMAIN can't remember and so on. There is not a single reason for AM to hide their hashpower unless it was really small. If you know a better one please share.

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September 02, 2014, 09:31:26 PM
 #22629

Please contradict my shit with real world facts. Where is AM now in the mining world? AM is a small player when it comes to self mining and when it comes to consumer business. They had/have some business 2 business contracts, but nothing big. Does AM compare to Bitfury, KnC, BITMAIN? I don't think so. Again, if you can contradict me with real world facts please do, but if you plan to just insult me then just don't bother replying.

I always do. Just like I did then.

You want to bring that up? Sure. Let's bring the 60PH/s of chips issue again to discussion. At 0.5$/GH you need 120M$ just for the miners, not counting the deployment costs if you do it on a large scale and I find really hard to believe that there are so much money flowing into mining with this exchange rates and in such short amount of time.

Well, what else do we know about AM apart from that? We know that they sold  some of that 60 Ph/s as chips and we know that they've sold some as miners, so obviously there isn't going to be a 60 Ph/s mine. They're the known facts. Look, you can't claim that you have no idea how much hashing power AM is mining with and then claim they are small potatoes and present that as a fact. That is not a fact, that is simply your assumption. In other words, just bullshit you are pulling out your arse. In order for you to claim that as a fact, you would need to know how much hashing power AM has and then compare that to the other players.

If AM had a lot of self mining hashing power they would brag about it right away. Why don't you add all the known big miners along with the public pools to see how much is left for AM. Put Bitfury at 50%, KnC at 5-10%, BITMAIN can't remember and so on. There is not a single reason for AM to hide their hashpower unless it was really small. If you know a better one please share.

More assumptions. Come back when you actually know what a fact is.
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September 02, 2014, 09:40:12 PM
 #22630

Please contradict my shit with real world facts. Where is AM now in the mining world? AM is a small player when it comes to self mining and when it comes to consumer business. They had/have some business 2 business contracts, but nothing big. Does AM compare to Bitfury, KnC, BITMAIN? I don't think so. Again, if you can contradict me with real world facts please do, but if you plan to just insult me then just don't bother replying.

I always do. Just like I did then.

Care to refresh my memory?

You want to bring that up? Sure. Let's bring the 60PH/s of chips issue again to discussion. At 0.5$/GH you need 120M$ just for the miners, not counting the deployment costs if you do it on a large scale and I find really hard to believe that there are so much money flowing into mining with this exchange rates and in such short amount of time.

Well, what else do we know about AM apart from that? We know that they sold  some of that 60 Ph/s as chips and we know that they've sold some as miners, so obviously there isn't going to be a 60 Ph/s mine. They're the known facts. Look, you can't claim that you have no idea how much hashing power AM is mining with and then claim they are small potatoes and present that as a fact. That is not a fact, that is simply your assumption. In other words, just bullshit you are pulling out your arse. In order for you to claim that as a fact, you would need to know how much hashing power AM has and then compare that to the other players.

More assumptions. Come back when you actually know what a fact is.

So you managed to trash me again, but you gave 0 real life facts to prove your statements. Please show me facts, not trashing. We all know that Bitfury was the one to get close to the 50% mining hash power. What do we know about AM? Nothing. And yet you still think they are a big player in the mining world...ok. I won't bother replying to you because it's a yes-no-yes-no game especially from your side. Come with real facts or proofs and then we can talk. Until then AM is a small potato in the mining world. Remember that I will donate 0.5BTC when AM will(IF) reach 15% of the total hashing power. I am willing to up my donation to 1 BTC if you put some money in the middle.

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September 02, 2014, 09:46:21 PM
 #22631

...
More assumptions. Come back when you actually know what a fact is.

Guys!  Facts are definitely at a premium here.  Just about the only irrefutable fact we have is the current market price: ฿0.1705 on heavy volume.
Allow me to be the first to congratulate you for ignoring me, Mabsark.  Again.  Much to the same results.
Cheesy
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September 02, 2014, 09:52:44 PM
 #22632

...
More assumptions. Come back when you actually know what a fact is.

Guys!  Facts are definitely at a premium here.  Just about the only irrefutable fact we have is the current market price: ฿0.1705 on heavy volume.
Allow me to be the first to congratulate you for ignoring me, Mabsark.  Again.  Much to the same results.
Cheesy


He is expecting facts from me, but he isn't sharing any! I still don't understand why are the shareholders so biased or so blind? I thought that people investing money have a larger idea of everything in general, but here I see only people with horse glasses.

Edit: Here is a fact Mabsark:
Actually with the 3  big builders ;  bitmaintech,bitfury,knc  there must be over 100ph self mining.

Here is one miner that is stating the big players. Show me a non-shareholder who thinks AM is a big player when it comes to self-mining and to consumer sales. I also invite you to the Hardware section to check with miners there what do they think about AM.

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September 02, 2014, 09:56:35 PM
 #22633


Guys!  Facts are definitely at a premium here.  Just about the only irrefutable fact we have is the current market price: ฿0.1705 on heavy volume.
Allow me to be the first to congratulate you for ignoring me, Mabsark.  Again.  Much to the same results.
Cheesy


He is expecting facts from me, but he isn't sharing any! I still don't understand why are the shareholders so biased or so blind? I thought that people investing money have a larger idea of everything in general, but here I see only people with horse glasses.

2 words: long term

edit: (Bonus) 2 words : shill down
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September 02, 2014, 10:02:56 PM
 #22634

Let's bring the 60PH/s of chips issue again to discussion. At 0.5$/GH you need 120M$ just for the miners,

That's not how math works.

If they wanted to build a 30PH farm at $0.35/gh they would only need $10,500,000.
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September 02, 2014, 10:13:00 PM
 #22635

Let's bring the 60PH/s of chips issue again to discussion. At 0.5$/GH you need 120M$ just for the miners,

That's not how math works.

If they wanted to build a 30PH farm at $0.35/gh they would only need $10,500,000.

Whoops! Math mistake. It's 30M, not 120M.

As for the 10M$ that is only for miners. What about deployment costs? Does AM has 10M$ to deploy that hashpower? Don't think so. Even if they did and they took this route that means there will be no more money to start gen4 chips and they will need to wait to mine something and that takes time which means a slower gen4 release. No scenario seems to be a good one for AM in their current position. Got a better one? Please share.

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September 02, 2014, 10:13:57 PM
 #22636

He is expecting facts from me, but he isn't sharing any!

I did share a fact. That AM had 60 Ph/s worth of BE200 ASICs.

Edit: Here is a fact Mabsark:
Actually with the 3  big builders ;  bitmaintech,bitfury,knc  there must be over 100ph self mining.

Here is one miner that is stating the big players. Show me a non-shareholder who thinks AM is a big player when it comes to self-mining and to consumer sales. I also invite you to the Hardware section to check with miners there what do they think about AM.

When did opinions become facts?  Huh There isn't a single fact in that paragraph.
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September 02, 2014, 10:23:36 PM
 #22637

He is expecting facts from me, but he isn't sharing any!

I did share a fact. That AM had 60 Ph/s worth of BE200 ASICs.


60 PH/s of chips on hand.  So these little dollars-and-cents-per-chip arguments are trivial since the chip costs are already cleared in the books.  Electric bill for deployment comes at the end of the month.  Mining with GHash (if that's been the case) would've been safest to minimize variance to ensure that bill gets and has been getting paid.
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September 02, 2014, 10:31:17 PM
 #22638

Let's bring the 60PH/s of chips issue again to discussion. At 0.5$/GH you need 120M$ just for the miners,

That's not how math works.

If they wanted to build a 30PH farm at $0.35/gh they would only need $10,500,000.

Whoops! Math mistake. It's 30M, not 120M.

As for the 10M$ that is only for miners. What about deployment costs? Does AM has 10M$ to deploy that hashpower? Don't think so.

I actually made a math mistake. I was including the chip cost at $0.35/gh but forgot the chips are already paid for so it would be less than that.

AM might only need ~$6M to produce 30PH worth of hardware and maybe ~$2M to deploy it all.
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September 02, 2014, 10:31:26 PM
 #22639

60 PH/s of chips on hand.  So these little dollars-and-cents-per-chip arguments are trivial since the chip costs are already cleared in the books.  Electric bill for deployment comes at the end of the month.  Mining with GHash (if that's been the case) would've been safest to minimize variance to ensure that bill gets and has been getting paid.

After AM ordered those 60PH chips they were out of liquidity. Since we don't know how much they sold (I'm assuming ~20-30PH) we don't know how much money do they have for self mining deployment, but take note that money are needed for gen4 too in the same time!

Also while electric bill comes at the end of the month there are other bills that you have to pay before you start mining and that is the rest of the hardware needed for miners plus the DC deployment. Also buying large quantities of components for miners usually take a bit of time to arrive and that doesn't help the self mining at all if they were ordered after they sold chips.

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September 02, 2014, 10:42:40 PM
 #22640

60 PH/s of chips on hand.  So these little dollars-and-cents-per-chip arguments are trivial since the chip costs are already cleared in the books.  Electric bill for deployment comes at the end of the month.  Mining with GHash (if that's been the case) would've been safest to minimize variance to ensure that bill gets and has been getting paid.

After AM ordered those 60PH chips they were out of liquidity. Since we don't know how much they sold (I'm assuming ~20-30PH) we don't know how much money do they have for self mining deployment, but take note that money are needed for gen4 too in the same time!

Also while electric bill comes at the end of the month there are other bills that you have to pay before you start mining and that is the rest of the hardware needed for miners plus the DC deployment. Also buying large quantities of components for miners usually take a bit of time to arrive and that doesn't help the self mining at all if they were ordered after they sold chips.

Do you know how much DC contracting costs for an operation this size, from wiring and meet-me rooms to ISP fees and WAN maintenance costs?  Do you know the costs FC's contracted for any custom-built hardware used for mining?  You're assuming they sold 20-30PH of chips?  Including those they sold to their affiliates and franchisees along with the tubes?

Damn, man, you must have some special privileged access to AM's books or be financially clairvoyant.  Why are you wasting your time here?  You and NotLambchop should just skip the little league here and set up shop on Wall St.  Surely you'd make a better return on trading real equities instead of the chump change listed within these shadowy forum threads.
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