ASICMINER: Entering the Future of ASIC Mining by Inventing It

[elasticband]

I remembered that and now I want to stick it into all shareholders face because it was a stupid argument.

derp..... you sound so cool right now, yeah you go get um, stick it to all those people..... we're not worthy, we're not worthy

[KarmaShark]

Those "IPOs" are idiotic. AMHash isn't selling shares in some company. They're supposed to be selling hashing power yet had no shares up for a good few days and the price went above IPO price. So AMHash could have sold more shares but didn't. To limit the amount of time those shares are available to purchase is simply lunacy, they need to be available to purchase round the clock.

And they need to be promoted too. I've seen fuck all in that regards except unofficial promotion by shareholders.

Are you and I the only two that have been scratching our heads over how this has been handled? Where is the value in staggering these mining contract offerings out over weeks and possibly months? If there is 25PH to sell off today, why not offer it all at once instead of leaving batches of PH off the market for weeks on end as the network grows? (albeit at a slower rate these days). The only way this makes any sense to me is if the other 20PH that is slated to be offered in contracts is already being used for self-mining, where it is a simple matter of changing ownership of the GH's on paper and sending the dividends to the owner of the GH's. And even in this case, I still do not see the value in staggering the release of the PH.


You can self-mine with it until you have offloaded the chips via shares of GH's to someone else and let it be, pocket the BTC and move on. I could be missing some key pieces of Fried Cat's strategy here so feel free to fill in some blanks. It is tough to know for sure given AM's recent history of blunders if this is a mistake or a well thought out decision by the company. Gives people something to discuss at least, there isn't much else going in for a while.

[elasticband]

..<snip>I remembered that and now I want to stick it into all shareholders face because it was a stupid argument.</snip>

 How old are you Roadstress?  Five? 

by the lords of kislev i think we have found him

[KarmaShark]

..<snip>I remembered that and now I want to stick it into all shareholders face because it was a stupid argument.</snip>

 How old are you Roadstress?  Five?  

by the lords of kislev i think we have found him

I needed this laugh, damn. I am pretty sure this is the character from the infamous World of Warcraft episode on South Park. Could be deadly accurate portrayal, who knows?

[RoadStress]

..<snip>I remembered that and now I want to stick it into all shareholders face because it was a stupid argument.</snip>

 How old are you Roadstress?  Five? 

I'm 6 actually! It may sound stupid for you, but for me it shows that I was right and it gives me momentum to continue in doing what I'm doing. Carry on.

[Mabsark]

As stated before FC took numerous bad business decisions. I did outline some of them in the past, but instead of discussing them you chose to bash me. I have no problem with that, but I'm glad that you start to realize them.

Stop talking out your arse. I have no problem with criticising AM and AM shareholders and have been extremely vocal in that regard myself, for example:

It's my opinion that a lot of investors simply don't understand how mining works. If they did, then they would understand that AM hardware and shares are vastly overpriced.

Just like a lot of people paying silly money for mining bonds have found out, AM investors will come to the same realisation that share prices are currently way overpriced.

LISTEN AND LISTEN CAREFULLY. The only reason why AM is able to charge such outrageous prices is because they've had no competition. By the end of the year, there will be plenty of competition. Here's a quick comparison:

AM Block Erupter Blade
10 Gh/s
50 BTC = 5,000 USD @ 100 USD/BTC
2 Mh/s per USD

KNC Jupiter
350 Gh/s
7,000 USD @ 100 USD/BTC
50 Mh/s per USD

It should be blatantly obvious to anyone with half a brain that there's going to be a lot less income from hardware sales due to competition. That same competition will also decrease AM's share of the network hash rate.

AM share holders are going to get hit by a good dose of reality in the coming months. Perhaps then they will stop listening to idiots trying to flog them overpriced stuff and do the maths themselves.

All you do though, is try to wind people up.

[Mabsark]

Those "IPOs" are idiotic. AMHash isn't selling shares in some company. They're supposed to be selling hashing power yet had no shares up for a good few days and the price went above IPO price. So AMHash could have sold more shares but didn't. To limit the amount of time those shares are available to purchase is simply lunacy, they need to be available to purchase round the clock.

And they need to be promoted too. I've seen fuck all in that regards except unofficial promotion by shareholders.

Are you and I the only two that have been scratching our heads over how this has been handled? Where is the value in staggering these mining contract offerings out over weeks and possibly months? If there is 25PH to sell off today, why not offer it all at once instead of leaving batches of PH off the market for weeks on end as the network grows? (albeit at a slower rate these days). The only way this makes any sense to me is if the other 20PH that is slated to be offered in contracts is already being used for self-mining, where it is a simple matter of changing ownership of the GH's on paper and sending the dividends to the owner of the GH's. And even in this case, I still do not see the value in staggering the release of the PH.


You can self-mine with it until you have offloaded the chips via shares of GH's to someone else and let it be, pocket the BTC and move on. I could be missing some key pieces of Fried Cat's strategy here so feel free to fill in some blanks. It is tough to know for sure given AM's recent history of blunders if this is a mistake or a well thought out decision by the company. Gives people something to discuss at least, there isn't much else going in for a while.

They are self-mining with the remaining hashing power according to Rockxie so at least they got that part right but as said, it's simply insane to not have "shares" available to sell constantly, especially given that AM are experiencing difficulty selling hashing power.

[RoadStress]

Stop talking out your arse. I have no problem with criticising AM and AM shareholders and have been extremely vocal in that regard myself, for example:

It's my opinion that a lot of investors simply don't understand how mining works. If they did, then they would understand that AM hardware and shares are vastly overpriced.
............

All you do though, is try to wind people up.

You did it all wrong. You raised an issue about the Blades that were selling like hot cakes. The blades were a good business decision at that time in my opinion.

I have a problem with the 2014 decisions. Show me a proof of you criticizing AM this year because in my view the fall started this year, not last year. Last and this year are totally different things.

[KarmaShark]

Those "IPOs" are idiotic. AMHash isn't selling shares in some company. They're supposed to be selling hashing power yet had no shares up for a good few days and the price went above IPO price. So AMHash could have sold more shares but didn't. To limit the amount of time those shares are available to purchase is simply lunacy, they need to be available to purchase round the clock.

And they need to be promoted too. I've seen fuck all in that regards except unofficial promotion by shareholders.

Are you and I the only two that have been scratching our heads over how this has been handled? Where is the value in staggering these mining contract offerings out over weeks and possibly months? If there is 25PH to sell off today, why not offer it all at once instead of leaving batches of PH off the market for weeks on end as the network grows? (albeit at a slower rate these days). The only way this makes any sense to me is if the other 20PH that is slated to be offered in contracts is already being used for self-mining, where it is a simple matter of changing ownership of the GH's on paper and sending the dividends to the owner of the GH's. And even in this case, I still do not see the value in staggering the release of the PH.


You can self-mine with it until you have offloaded the chips via shares of GH's to someone else and let it be, pocket the BTC and move on. I could be missing some key pieces of Fried Cat's strategy here so feel free to fill in some blanks. It is tough to know for sure given AM's recent history of blunders if this is a mistake or a well thought out decision by the company. Gives people something to discuss at least, there isn't much else going in for a while.

They are self-mining with the remaining hashing power according to Rockxie so at least they got that part right but as said, it's simply insane to not have "shares" available to sell constantly, especially given that AM are experiencing difficulty selling hashing power.

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

[RoadStress]

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

When I asked the same question the angry shareholder group accused me of promoting SP-Tech. Let's see what's the answer now.

[Mabsark]

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

According to FC, AM have been self-mining since mid-July. Also, as far as I can remember, the hash rate was never posted by AM for gen 1. But we were told that we'd get a hash meter this time round, so fuck knows what's going on with that or anything else related to AM

I think it's time us shareholders started asking about buying out bitfountain.

[RoadStress]

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

According to FC, AM have been self-mining since mid-July. Also, as far as I can remember, the hash rate was never posted by AM for gen 1. But we were told that we'd get a hash meter this time round, so fuck knows what's going on with that or anything else related to AM

I think it's time us shareholders started asking about buying out bitfountain.

It was posted for gen1 chips: http://www.asicminercharts.com/live/

[KarmaShark]

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

According to FC, AM have been self-mining since mid-July. Also, as far as I can remember, the hash rate was never posted by AM for gen 1. But we were told that we'd get a hash meter this time round, so fuck know what's going on with that.

I think it's time us shareholders started asking about buying out bitfountain.

You are right, I think it may have been one of the shareholders that built an application and ran it from a website that we all made use of, good memory. I really hope this situation doesn't have to turn ugly, we only have 5 weeks to go before we are in the thick of things again. The way I see it, this show is over soon or everything is back to partying like it is 1999 (for a little while, this is the mining industry after all).

If AM cannot get Gen4 right there is no conjecture here, the company will be out of money and out of time. My point? We do not have much longer to wait, the chips will pass or they will fail, and if they fail the share price will take the stock down to worthlessness. I am going to sit tight and let the company prove its worth, my faith is eroded however there is no other direct investment opportunity in the mining industry, and this one has massive upside if they can execute.


The excruciating pain shareholders are feeling will be over soon, one way or the other.

[Mabsark]

It was posted for gen1 chips: http://www.asicminercharts.com/live/

That was an unofficial site created by SmiGueL.

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

According to FC, AM have been self-mining since mid-July. Also, as far as I can remember, the hash rate was never posted by AM for gen 1. But we were told that we'd get a hash meter this time round, so fuck know what's going on with that.

I think it's time us shareholders started asking about buying out bitfountain.

You are right, I think it may have been one of the shareholders that built an application and ran it from a website that we all made use of, good memory. I really hope this situation doesn't have to turn ugly, we only have 5 weeks to go before we are in the thick of things again. The way I see it, this show is over soon or everything is back to partying like it is 1999 (for a little while, this is the mining industry after all).

If AM cannot get Gen4 right there is no conjecture here, the company will be out of money and out of time. My point? We do not have much longer to wait, the chips will pass or they will fail, and if they fail the share price will take the stock down to worthlessness. I am going to sit tight and let the company prove its worth, my faith is eroded however there is no other direct investment opportunity in the mining industry, and this one has massive upside if they can execute.


The excruciating pain shareholders are feeling will be over soon, one way or the other.

There's too much competition for AM to relive it's glory days. Those days were only possible due to first mover advantage.

My problem is not with the design team, it's with the management, sales, support and PR. FC seems to just be hiring his friends who don't know what the hell they're doing. That's why I suggest looking into buying out BitFountain, so we could put some people in place who actually have a clue what they're doing.

Gen 4 could turn out to be 0.1 J/Gh but without a decent team in place would AM be able to capitalise on it?

On the other hand, with a good team in place, even though gen 3 under performed, those 60 Ph/s may have been sold as the gen 3 offerings have provided the best value to customers. They should have been selling like hotcakes. If some smooth-talking Yank was in charge of sales, they probably would have been. Instead we get a guy with poor English, who can't even access the forum and ignores emails.

[RoadStress]

It was posted for gen1 chips: http://www.asicminercharts.com/live/

That was an unofficial site created by SmiGueL.

And he was getting the information from the newspaper? There was some kind of official information about the hashrate because otherwise how could he create the site? I am sure he wasn't making up the hashrate posted there.

My problem is not with the design team, it's with the management, sales, support and PR. FC seems to just be hiring his friends who don't know what the hell they're doing. That's why I suggest looking into buying out BitFountain, so we could put some people in place who actually have a clue what they're doing.

I have stated in the past that FC found out a method to get money out of the company without paying the shareholders (hint: rockxie mining), but you bashed me back then. I am glad to see you coming back to earth.

[ujka]

It was posted for gen1 chips: http://www.asicminercharts.com/live/

That was an unofficial site created by SmiGueL.

And he was getting the information from the newspaper? There was some kind of official information about the hashrate because otherwise how could he create the site? I am sure he wasn't making up the hashrate posted there.

SmiGueL was only following the number of blocks found per day and new bitcoins received on AM mining address (1HtUGfbDcMzTeHWx2Dbgnhc6kYnj1Hp24i)

[Mabsark]

I have stated in the past that FC found out a method to get money out of the company without paying the shareholders (hint: rockxie mining), but you bashed me back then. I am glad to see you coming back to earth.

I "bashed" you back then for good reason. Talking complete bollocks. Which you are doing again. There's no evidence whatsoever to suggest that AM have been funnelling money out the back door. What I said was that their management, sales, support and PR are crap, not that AM is corrupt.

What you are claiming is that supplying a customer with the product you sell is corruption. The stupidity that comes out of your mouth is truly amazing.

[FUR11]

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

According to FC, AM have been self-mining since mid-July. Also, as far as I can remember, the hash rate was never posted by AM for gen 1. But we were told that we'd get a hash meter this time round, so fuck know what's going on with that.

I think it's time us shareholders started asking about buying out bitfountain.

You are right, I think it may have been one of the shareholders that built an application and ran it from a website that we all made use of, good memory. I really hope this situation doesn't have to turn ugly, we only have 5 weeks to go before we are in the thick of things again. The way I see it, this show is over soon or everything is back to partying like it is 1999 (for a little while, this is the mining industry after all).

If AM cannot get Gen4 right there is no conjecture here, the company will be out of money and out of time. My point? We do not have much longer to wait, the chips will pass or they will fail, and if they fail the share price will take the stock down to worthlessness. I am going to sit tight and let the company prove its worth, my faith is eroded however there is no other direct investment opportunity in the mining industry, and this one has massive upside if they can execute.


The excruciating pain shareholders are feeling will be over soon, one way or the other.

Yeah, I also believe that we really are working in a thin-margins business these days, but if they manage to run a decent operation, the upsides should justify a share-price of more than 0.1 BTC!
But friedcat, if you should read this: Please employ some people who are experts in customer-relations. Maybe also in the US or someplace other than China. Don't forget the international market. Also: Self-mine! Don't rely on selling the chips (again). Find even cheaper electricity now!

[chairforce1]

Ugh I see 2 pages in one day and think something happened, but it is just a struggle storm of anger. 

[kingcrimson]

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

According to FC, AM have been self-mining since mid-July. Also, as far as I can remember, the hash rate was never posted by AM for gen 1. But we were told that we'd get a hash meter this time round, so fuck know what's going on with that.

I think it's time us shareholders started asking about buying out bitfountain.

You are right, I think it may have been one of the shareholders that built an application and ran it from a website that we all made use of, good memory. I really hope this situation doesn't have to turn ugly, we only have 5 weeks to go before we are in the thick of things again. The way I see it, this show is over soon or everything is back to partying like it is 1999 (for a little while, this is the mining industry after all).

If AM cannot get Gen4 right there is no conjecture here, the company will be out of money and out of time. My point? We do not have much longer to wait, the chips will pass or they will fail, and if they fail the share price will take the stock down to worthlessness. I am going to sit tight and let the company prove its worth, my faith is eroded however there is no other direct investment opportunity in the mining industry, and this one has massive upside if they can execute.


The excruciating pain shareholders are feeling will be over soon, one way or the other.

Yeah, I also believe that we really are working in a thin-margins business these days, but if they manage to run a decent operation, the upsides should justify a share-price of more than 0.1 BTC!
But friedcat, if you should read this: Please employ some people who are experts in customer-relations. Maybe also in the US or someplace other than China. Don't forget the international market. Also: Self-mine! Don't rely on selling the chips (again). Find even cheaper electricity now!

How did you come at this number, it is over 10 X the current price. I don't think it will ever happen.