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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3899709 times)
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October 21, 2014, 04:14:00 PM
 #23761

It doesn't really look like anything is being delivered at https://bitcointalk.org/index.php?topic=791827.320
Follow this https://bitcointalk.org/index.php?topic=795477.msg9271176#msg9271176
and this thread https://bitcointalk.org/index.php?topic=795609.msg9267423#msg9267423
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October 21, 2014, 05:39:38 PM
 #23762

Share price for AM is always so mysterious to me. With  a good product available with Prismas, why is there so much dumping going on?  Been steady decline last few days, looks like .1-.11 is the new normal.
As for the lack of communication, a mere 5 mins a week more spent on twitter updates would translate into a big confidence boost.  : Wink

I think gen 4 will end up like gen 3 and arrive 8 months later than I expect but who knows, we just have guesses.

 
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October 21, 2014, 05:55:21 PM
 #23763

Share price for AM is always so mysterious to me. With  a good product available with Prismas, why is there so much dumping going on?  Been steady decline last few days, looks like .1-.11 is the new normal.
As for the lack of communication, a mere 5 mins a week more spent on twitter updates would translate into a big confidence boost.  : Wink

I think gen 4 will end up like gen 3 and arrive 8 months later than I expect but who knows, we just have guesses.

The reason the share price is low is because there is no information on the company. No one knows if there will be dividends, if we are actually self mining with gen 3, if gen 4 tape out is imminent or several months out. We have no idea what our actual expenses are, what partners were working with, or what sort of revenue we have. A simple update from fried car and a financial statement could go a long way.

The concern is why isn't he doing that? Is gen 4 around the corner and he wants to wait for release before announcing? Does he want to wait on announcing gen 4 to maximize prisms sales? Is he trying to bide time and embezzle as much coin as possible before announcing the failure of AM? No one knows!!! Until fried car announces something anything could be possible.

Full disclosure I'm long AM and just fed up with the lack of communication. That's been my only comments in this thread lately and I don't expect Friedcat to change at all. I'm frustrated and hopeful but a growing part of me expects this company to fold up and run.

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October 21, 2014, 06:06:44 PM
 #23764

''''''' I hear that, all good points.  I know what you are saying.... I could both imagine, 6 months from now, AM regaining a big chunk of the mining world, or just as likely, folding. Its a complete toss up.

Sure FC likes to keep his cards close to his chest, but this just don't work well at being a publicly traded company at the same time. I realized it just sort of developed into one w/o his intention to do so (beyond the original shareholders), but still.

 
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October 21, 2014, 06:07:01 PM
 #23765

Im fed up with the lack of info too.
Yet im more and more convinced thats perfectly normal.
FC made a conf in august. Showed himself to the world and announced some sort of checkmate plan.. and then disapeared. Along with the boardmembers...

And this is where one should upload some submarine pics.



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October 21, 2014, 06:08:53 PM
 #23766

At least with that Russian sub by Sweden this last week there was some evidence it was around  Grin

 
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October 21, 2014, 06:10:57 PM
 #23767

At least with that Russian sub by Sweden this last week there was some evidence it was around  Grin

Hehe i was waiting for that story too Grin
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October 21, 2014, 06:17:27 PM
 #23768

Im fed up with the lack of info too.
Yet im more and more convinced thats perfectly normal.
FC made a conf in august. Showed himself to the world and announced some sort of checkmate plan.. and then disapeared. Along with the boardmembers...

And this is where one should upload some submarine pics.






The lack of information may due to increased competition and preventing competitors from knowing about key events.  In 'real world' companies, the CEO and board of directors give quarter reports, no updates on everything that is happening to the company on a daily basis.
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October 21, 2014, 06:19:28 PM
 #23769

Im fed up with the lack of info too.
Yet im more and more convinced thats perfectly normal.
FC made a conf in august. Showed himself to the world and announced some sort of checkmate plan.. and then disapeared. Along with the boardmembers...

And this is where one should upload some submarine pics.





Lol I suppose this should be more on the speculation thread, but it has been months since any info...  that info was very promising though.  BE 300 will take us to the moon in the exa hash age. Or to the seafloor.  I am counting on moon, as I don't care for deep water Tongue
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October 21, 2014, 06:25:37 PM
 #23770

Im fed up with the lack of info too.
Yet im more and more convinced thats perfectly normal.
FC made a conf in august. Showed himself to the world and announced some sort of checkmate plan.. and then disapeared. Along with the boardmembers...

And this is where one should upload some submarine pics.






The lack of information may due to increased competition and preventing competitors from knowing about key events.  In 'real world' companies, the CEO and board of directors give quarter reports, no updates on everything that is happening to the company on a daily basis.

They also provide detailed financials and outline a business strategy and plan. It would be nice to know what the financial status of the company is. Also they were supposed to be aggressive with dividends. When you establish that and then don't pay any dividends it deserves some explaining.

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October 21, 2014, 06:39:06 PM
 #23771

Yeah, it's unnerving! But not unheard of. FC kept silent before... I still believe in him. Gen 3 was a lot of bad luck, a declining BTC price, and a stronger competition. I think he will only announce gen 4, when it's ready and confirmed to work. As not to create a disappointment!

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October 21, 2014, 06:54:56 PM
 #23772

Yeah, it's unnerving! But not unheard of. FC kept silent before... I still believe in him. Gen 3 was a lot of bad luck, a declining BTC price, and a stronger competition. I think he will only announce gen 4, when it's ready and confirmed to work. As not to create a disappointment!

But there are plenty of other things to update besides progress on gen 4! What's our hashrate? Do we have franchisees hashing away? What do our financials look like? How many gen 3 chips do we have left that we won't be using to self mine?

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October 21, 2014, 07:11:18 PM
 #23773

Yeah, it's unnerving! But not unheard of. FC kept silent before... I still believe in him. Gen 3 was a lot of bad luck, a declining BTC price, and a stronger competition. I think he will only announce gen 4, when it's ready and confirmed to work. As not to create a disappointment!

But there are plenty of other things to update besides progress on gen 4! What's our hashrate? Do we have franchisees hashing away? What do our financials look like? How many gen 3 chips do we have left that we won't be using to self mine?

I guess FC considers those information 'secret'. Maybe he deems it important not to give those information away to the competition, for some reason. The most probable explanation, though would be that he simply does not care to tell us. He's still honest, and working for his shareholders, yet he doesn't see the need in answering our questions.

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October 21, 2014, 07:20:31 PM
 #23774

Yeah, it's unnerving! But not unheard of. FC kept silent before... I still believe in him. Gen 3 was a lot of bad luck, a declining BTC price, and a stronger competition. I think he will only announce gen 4, when it's ready and confirmed to work. As not to create a disappointment!

But there are plenty of other things to update besides progress on gen 4! What's our hashrate? Do we have franchisees hashing away? What do our financials look like? How many gen 3 chips do we have left that we won't be using to self mine?

I guess FC considers those information 'secret'. Maybe he deems it important not to give those information away to the competition, for some reason. The most probable explanation, though would be that he simply does not care to tell us. He's still honest, and working for his shareholders, yet he doesn't see the need in answering our questions.

The problem is, your boldest statement can't be verified. He hasn't paid a dividend and there is no accounting for the company's revenues or assets and liabilities. I'm not trying to spread FUD, but maybe other people will realize why FC should address shareholders instead of just trusting he's working for us. Everyone should also take everything I'm saying with a grain of salt because I own less than 0.01% of the outstanding shares in this company

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October 21, 2014, 08:19:06 PM
 #23775

In a few words:

 - No upside. There is absolutely no upside whatsoever in revealing the strategy to the public. Rule #1 of business, don't give away your strategy. If you do, it's for pushing around the competition or raise money. They don't need to do any of that right now.

 - You have no power. if FC had wanted to run away you could not do anything about it anyways. Info or no info.
 With info: No one would want to buy your shares.
 Without info, you would not know, but the market would be so thin no one would buy.

 - You have proof of honesty and no proof of dishonesty. Honesty is demonstrated by track record, products shipping and conference. Not by incessant online blabbering ("communication"). Cf. all the other scams who gave ample information about things that did not exist.

A final word if you are still not convinced: if AM was a scam, they would try to unload as many shares as possible at a high price. For that they would communicate a lot and build expectation to jack up the stock price. That did not happen.

Investing is not for everyone, you need an attention span of months and determination. If you don't have the necessary attention span, it's called speculation. AM has designed its business and communication strategy to attract investors and shake off the speculators. This situation is ideal, the insecure are leaving the boat so that only the ones with strong will stay - therefore the stock price will be steadier over time.
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October 21, 2014, 08:56:51 PM
 #23776

In a few words:

 - No upside. There is absolutely no upside whatsoever in revealing the strategy to the public. Rule #1 of business, don't give away your strategy. If you do, it's for pushing around the competition or raise money. They don't need to do any of that right now.

 - You have no power. if FC had wanted to run away you could not do anything about it anyways. Info or no info.
 With info: No one would want to buy your shares.
 Without info, you would not know, but the market would be so thin no one would buy.

 - You have proof of honesty and no proof of dishonesty. Honesty is demonstrated by track record, products shipping and conference. Not by incessant online blabbering ("communication"). Cf. all the other scams who gave ample information about things that did not exist.

A final word if you are still not convinced: if AM was a scam, they would try to unload as many shares as possible at a high price. For that they would communicate a lot and build expectation to jack up the stock price. That did not happen.

Investing is not for everyone, you need an attention span of months and determination. If you don't have the necessary attention span, it's called speculation. AM has designed its business and communication strategy to attract investors and shake off the speculators. This situation is ideal, the insecure are leaving the boat so that only the ones with strong will stay - therefore the stock price will be steadier over time.

Yes, this essentially is what I'm thinking. Playing the devil's advocate though I gotta say that FC may simply fail in achieving his targets, not because of being fraudulent, but rather incompetent (~ Hanlon's Razor). I don't think this is the case, but we can't rule it out.

sngwinner, what I stated was merely an assumption, not a bold claim Smiley You are completely right by staying careful!

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October 21, 2014, 09:29:45 PM
 #23777

In a few words:

 - No upside. There is absolutely no upside whatsoever in revealing the strategy to the public. Rule #1 of business, don't give away your strategy. If you do, it's for pushing around the competition or raise money. They don't need to do any of that right now.

Thats simply untrue in the zero sum game that the mining market is. If anything, you *want* to let your competitors know, possibly even exaggerate what your plans are.

Make everyone believe you will have x exahash online online in y months with 0.1W/GH would go a long way to kill your competition stone dead, both by stopping them from getting (pre)oders and making them and their investors think twice about their own planned capacity. Why do you think bitfury is making public what they are aiming for and the capacity they are planning to put online? Id quiver in my boots if I ran a large scale mining op. Or for that matter, held AM shares. 100MW and 0.2J/GH in a few months. 0.1J/GH next year. Fuck me, if BFL had said that Id shrug it off, but when bitfury says that, especially after securing the funding,  it aint a joke.

Quote
With info: No one would want to buy your shares.

I guess its not "good info" that you are thinking off.
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October 21, 2014, 09:46:11 PM
 #23778

In a few words:

 - No upside. There is absolutely no upside whatsoever in revealing the strategy to the public. Rule #1 of business, don't give away your strategy. If you do, it's for pushing around the competition or raise money. They don't need to do any of that right now.

Thats simply untrue in the zero sum game that the mining market is. If anything, you *want* to let your competitors know, possibly even exaggerate what your plans are.

Make everyone believe you will have x exahash online online in y months with 0.1W/GH would go a long way to kill your competition stone dead, both by stopping them from getting (pre)oders and making them and their investors think twice about their own planned capacity. Why do you think bitfury is making public what they are aiming for and the capacity they are planning to put online? Id quiver in my boots if I ran a large scale mining op. Or for that matter, held AM shares. 100MW and 0.2J/GH in a few months. 0.1J/GH next year. Fuck me, if BFL had said that Id shrug it off, but when bitfury says that, especially after securing the funding,  it aint a joke.

Fair point, I think we agree, goes back to what I said about raising money and pushing around the competition, looks like it's what BitFury did and is now trying to do respectively Smiley. So now AM has a strategic advantage, Bitfury has revealed its plan and AM hasn't. AM can decide whether they think it's true or not and whether they want to act on it or not.

e.g.
- by finding who the suppliers of Bitfury are and cutting deals with them
- then by finding who the customers and distributors of Bitfury are and cutting deals with them
- then by starving BitFury based on price and going to their VC to get the next round of funding showing them their strategic superiority
- then by poaching demoralized BitFury employees

Or simply
- by outdoing BitFury on volume

AM has a large stash of cash, not sure about BitFury, a simple approach would be to prevent BitFury from doing any sales for the next year by selling at a lower price, starve off BitFury then either buy them or poach their employees.

I am not advocating they should do any of that, but it could be an effective and merciless strategy (yet somewhat dirty and costly).
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October 21, 2014, 09:48:05 PM
 #23779

I'll have some of what you are smoking..
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October 21, 2014, 09:57:25 PM
 #23780

In a few words:

 - No upside. There is absolutely no upside whatsoever in revealing the strategy to the public. Rule #1 of business, don't give away your strategy. If you do, it's for pushing around the competition or raise money. They don't need to do any of that right now.

Thats simply untrue in the zero sum game that the mining market is. If anything, you *want* to let your competitors know, possibly even exaggerate what your plans are.

Make everyone believe you will have x exahash online online in y months with 0.1W/GH would go a long way to kill your competition stone dead, both by stopping them from getting (pre)oders and making them and their investors think twice about their own planned capacity. Why do you think bitfury is making public what they are aiming for and the capacity they are planning to put online? Id quiver in my boots if I ran a large scale mining op. Or for that matter, held AM shares. 100MW and 0.2J/GH in a few months. 0.1J/GH next year. Fuck me, if BFL had said that Id shrug it off, but when bitfury says that, especially after securing the funding,  it aint a joke.

Fair point, I think we agree, goes back to what I said about raising money and pushing around the competition, looks like it's what BitFury did and is now trying to do respectively Smiley. So now AM has a strategic advantage, Bitfury has revealed its plan and AM hasn't. AM can decide whether they think it's true or not and whether they want to act on it or not.

e.g.
- by finding who the suppliers of Bitfury are and cutting deals with them
- then by finding who the customers and distributors of Bitfury are and cutting deals with them
- then by starving BitFury based on price and going to their VC to get the next round of funding showing them their strategic superiority
- then by poaching demoralized BitFury employees

Or simply
- by outdoing BitFury on volume

AM has a large stash of cash, not sure about BitFury, a simple approach would be to prevent BitFury from doing any sales for the next year by selling at a lower price, starve off BitFury then either buy them or poach their employees.

I am not advocating they should do any of that, but it could be an effective and merciless strategy (yet somewhat dirty and costly).

"AM has strategic advantage for not revealing their plans"...wow...simply WOW!Another blind shareholder...This is not a Tom Cruise movie and while AM has their supposed strategic advantage Bitfury is bringing lots of MW online.

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