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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914083 times)
hdbuck
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October 10, 2014, 10:15:13 PM
 #23621

Quote
Vavilov told CoinDesk that it decided not to tap its bitcoin reserves as it remains bullish on the long-term value of bitcoin.

I read it like "we are burning cash like crazy, and we don't want to unload bitcoins to pay the utility bill because that would bankrupt us. We had no choice but to beg our investors to pour more money, because otherwise they would be royally fucked as well if they didn't reinvest in us. We pray for an increase in BTC prices, because otherwise we are royally fucked. The 100MW plant is a bluff, but it may not be a total lie if BTC prices goes to the moon. Until then, we are burning more cash... Fingers crossed"


You don't ask for even more investment money unless you have already spent what you had and now are pretty much broke.


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October 10, 2014, 11:07:14 PM
 #23622

If these things are real  Asicminer needs to get the first ones O_o

http://www.extremetech.com/extreme/191754-cold-fusion-reactor-verified-by-third-party-researchers-seems-to-have-1-million-times-the-energy-density-of-gasoline




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October 10, 2014, 11:23:41 PM
 #23623


from your link:
BitFury further indicated it would use the funds to increase the capacity of its data centers to 100 megawatts

100MW. Thats ~125PH with todays tech and if he achieves his 0.2J/GH goal later this year, thats 500 PH. Or 1EH next year if he does get it down to 0.1JGH Shocked

Remember who else was planning to unleash a 100MW franchised+solomining operation on the network over the summer?  

megabigpower (lqtm because, well...obviously not).

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Puppet
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October 10, 2014, 11:30:24 PM
 #23624

100MW is a huge amount of power.  About 1/100 the size of a coal powerplant.

More like one entire powerplant.
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October 10, 2014, 11:36:03 PM
 #23625

You don't ask for even more investment money unless you have already spent what you had and now are pretty much broke.

Thats nonsense.  In one of my previous startups we would regularly issue shares to VCs even though we had more money in the bank than we knew what to do with. There are countless reasons to get investor funds, not in the least if investors are willing to pay more for a share of the business than you think its worth. Or if you want cash up front and off load (part of) the risk.
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October 11, 2014, 12:01:50 AM
 #23626

You don't ask for even more investment money unless you have already spent what you had and now are pretty much broke.

Thats nonsense.  In one of my previous startups we would regularly issue shares to VCs even though we had more money in the bank than we knew what to do with. There are countless reasons to get investor funds, not in the least if investors are willing to pay more for a share of the business than you think its worth. Or if you want cash up front and off load (part of) the risk.

OK, so maybe they want to off load some risk or find some suckers who will pay more than it's worth. Pure nonsense Roll Eyes

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October 11, 2014, 12:09:26 AM
 #23627

OK, so maybe they want to off load some risk or find some suckers who will pay more than it's worth. Pure nonsense Roll Eyes

Isnt that the essence of AM's business model (and that of every other asic vendor) ?
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October 11, 2014, 01:33:51 AM
 #23628

OK, so maybe they want to off load some risk or find some suckers who will pay more than it's worth. Pure nonsense Roll Eyes

Isnt that the essence of AM's business model (and that of every other asic vendor) ?

No, it's yours and Bitfury's. AM is still operating on the profits they earned from the capital they raised from IPO and have already paid shareholders 6x what they invested.  That's the difference.

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October 11, 2014, 03:12:26 AM
 #23629

100MW is a huge amount of power.  About 1/100 the size of a coal powerplant.

More like one entire powerplant.
Yes, there's plenty of plants around 100MW.
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October 11, 2014, 04:35:45 AM
 #23630

100MW is a huge amount of power.  About 1/100 the size of a coal powerplant.

More like one entire powerplant.
Yes, there's plenty of plants around 100MW.

So when do all the datatanks get plugged into AM's personal 100 - 10000MW power plant?

Either you own the bitcoins(private keys) or you don't. However with moneroj, nobody knows what you own.
Secure. Private. Untraceable.
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October 11, 2014, 04:40:08 AM
 #23631

OK, so maybe they want to off load some risk or find some suckers who will pay more than it's worth. Pure nonsense Roll Eyes

Isnt that the essence of AM's business model (and that of every other asic vendor) ?

Have you heard Friedcat asking for an additional round of  investments?
We only heard about the year of the exahash from him. And no additional funding was needed for that.
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October 11, 2014, 04:41:12 AM
 #23632

100MW is a huge amount of power.  About 1/100 the size of a coal powerplant.

More like one entire powerplant.
Yes, there's plenty of plants around 100MW.

So when do all the datatanks get plugged into AM's personal 100 - 10000MW power plant?

Gosh, 10GW is an obscenity.
That is like 8 trips to the future.
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October 11, 2014, 05:02:04 AM
 #23633

100MW is a huge amount of power.  About 1/100 the size of a coal powerplant.

More like one entire powerplant.
Yes, there's plenty of plants around 100MW.

So when do all the datatanks get plugged into AM's personal 100 - 10000MW power plant?

Gosh, 10GW is an obscenity.
That is like 8 trips to the future.

ASICMINER: Entering the Future of ASIC Mining by Inventing It

Only 8?

Either you own the bitcoins(private keys) or you don't. However with moneroj, nobody knows what you own.
Secure. Private. Untraceable.
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October 11, 2014, 08:11:24 AM
 #23634

OK, so maybe they want to off load some risk or find some suckers who will pay more than it's worth. Pure nonsense Roll Eyes

Isnt that the essence of AM's business model (and that of every other asic vendor) ?

Have you heard Friedcat asking for an additional round of  investments?

Reread the above, and see where it says "investors".
Selling mining equipment to end users t is just another way to offload risk to suckers who generally want to pay more than its worth.
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October 11, 2014, 10:38:43 AM
 #23635

OK, so maybe they want to off load some risk or find some suckers who will pay more than it's worth. Pure nonsense Roll Eyes

Isnt that the essence of AM's business model (and that of every other asic vendor) ?

No, it's yours and Bitfury's. AM is still operating on the profits they earned from the capital they raised from IPO and have already paid shareholders 6x what they invested.  That's the difference.

This was in the past. How is the present and the future for AM?

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October 11, 2014, 10:46:44 AM
 #23636

OK, so maybe they want to off load some risk or find some suckers who will pay more than it's worth. Pure nonsense Roll Eyes

Isnt that the essence of AM's business model (and that of every other asic vendor) ?

No, it's yours and Bitfury's. AM is still operating on the profits they earned from the capital they raised from IPO and have already paid shareholders 6x what they invested.  That's the difference.

This was in the past. How is the present and the future for AM?

Lol some good ol counter trollin.. ^^ did you like mine in spongebob thread? Tongue
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October 11, 2014, 01:19:55 PM
 #23637

Had an email stating my transfer of direct shares to havelock is complete. However if I log into Havelock, I can't see any of the shares. Has anyone else had this problem?

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October 11, 2014, 01:21:24 PM
 #23638

Had an email stating my transfer of direct shares to havelock is complete. However if I log into Havelock, I can't see any of the shares. Has anyone else had this problem?

Who sent you the email confirmation?
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October 11, 2014, 01:23:59 PM
 #23639

Had an email stating my transfer of direct shares to havelock is complete. However if I log into Havelock, I can't see any of the shares. Has anyone else had this problem?

Who sent you the email confirmation?

fnnirvana@gmail.com

Ah just re-read the import process. Havelock have a 48 hour import window. fnnirvana@gmail.com emailed me early yesterday so I guess i'll wait another 24 hours.

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October 11, 2014, 01:25:39 PM
 #23640

Had an email stating my transfer of direct shares to havelock is complete. However if I log into Havelock, I can't see any of the shares. Has anyone else had this problem?

Who sent you the email confirmation?

fnnirvana@gmail.com

Ah just re-read the import process. Havelock have a 48 hour import window. fnnirvana@gmail.com emailed me early yesterday so I guess i'll wait another 24 hours.

Exactly. Took some time for me also.

In the meantime we prepare for the next dump. ^^
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