ASICMINER: Entering the Future of ASIC Mining by Inventing It

[BitThink]

People post because that is what you do on a public forum. I guess that sounded a bit harsh, but that was not my intention. I am just curious why you guys have so much faith in this company. I honestly am not trying to troll here.

The reason is simple, no matter how bad AM performs, people have to stay because there's no alternatives. It's the only one in the BTC stock market now. Others are almost all scam or failure.

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[armedmilitia]

People post because that is what you do on a public forum. I guess that sounded a bit harsh, but that was not my intention. I am just curious why you guys have so much faith in this company. I honestly am not trying to troll here.

They're one of the few that isn't actually a scam. Maybe a crappy company, maybe destined for failure, but above all, they're not a scam. For all the glamour of NEO&BEE, and all the fancy forums of GAW, there's only one investment that I'm not worried about disappearing tomorrow...

Who knows, maybe GEN4 will be a success. Sure, it could bomb like GEN2, but nobody really knows until it happens. They've got some time left to get their act together, and it's possible they will...

Full disclosure:
I own a single share of AM. Maybe I'm trying to pump the price to exit high. 

[laustcozz]

Remember when we mined the block where some poor guy accidentally included a 200 BTC transaction fee?  Friedcat refunded it immediately.  Nobody could have done anything had he kept it.  Thousands of dollars straight out of his own pocket.  He didn't waffle about it.  He didn't consult the opinions of others.  He just did the right thing and gave the guy his money back.

ASICminer may sink or swim.  They have made some pretty glaring missteps and pissed away whatever advantage they once had to dominate the market.  But they did it honestly.  They have paid back 6 times IPO, it isn't Friedcat's fault people got carried away on the price they paid for shares.  He could have sold out and walked away a rich man.  He didn't.

Whatever problems there have been are understandable albeit disappointing.  They are slamming out custom chip designs as fast as they can and rushing them into production.  Failure shouldn't be a surprise to anyone.  THIS IS NOT AN INVESTMENT, it is speculation.  Startups fail, only something like 1 in 10 ever turn a profit for initial investors.

I believe ASICminer's management team is honest.  I have reasonable faith they are learning from their mistakes.  I am certain that this company is the only shot I have at being profitably involved in mining going forward.  I recognize that my money could evaporate into nothing.  If Gen 4 succeeds I calculate we could make a tidy profit with today's share price.  The last year has sucked, but that is meaningless going forward.  

[Fordee]

Sure, it could bomb like GEN2, but nobody really knows until it happens.

 -- I just wanted to clarify, as I have heard of a Gen2 'failure' many times...    

</rambling on>  
 
Gen 1 was a wild wild success during it's time.
Gen 2 and 3 development happened in parallel, and it was determined that the Gen3 path should be followed...

In otherwords, Both would have never been born into existence.. one was chosen.  No masks were make and wasted on Gen2.  It wasn't a 'grand failure'..

Gen3 -  A learning experience to say the least.. with timing, packaging and design challenges, Friedcat was honest about the outcome..
                
Gen4 -  Fully paid for.  Design issues dedicatedly addressed.  Doesn't have to 'blow away the competition'..  It just needs to outlast them on a cost incurred basis.

</rambling off>

[armedmilitia]

Sure, it could bomb like GEN2, but nobody really knows until it happens.

 -- I just wanted to clarify, as I have heard of a Gen2 'failure' many times...    

</rambling on>  
 
Gen 1 was a wild wild success during it's time.
Gen 2 and 3 development happened in parallel, and it was determined that the Gen3 path should be followed...

In otherwords, Both would have never been born into existence.. one was chosen.  No masks were make and wasted on Gen2.  It wasn't a 'grand failure'..

Gen3 -  A learning experience to say the least.. with timing, packaging and design challenges, Friedcat was honest about the outcome..
                
Gen4 -  Fully paid for.  Design issues dedicatedly addressed.  Doesn't have to 'blow away the competition'..  It just needs to outlast them on a cost incurred basis.

</rambling off>

Fair, never heard much about gen2 other than it's failure. I take it back! 

[dave111223]

I just received a payment to my ASICMINER dividend address.  Are they paying dividends again or is this just a random spam transaction?

https://blockchain.info/tx/eff86901547279a9be4ccdba5a3be3cdf57c3280a3c3db16cf318580a4c9061a

(0.0000543 BTC the amount received)

[xhomerx10]

I just received a payment to my ASICMINER dividend address.  Are they paying dividends again or is this just a random spam transaction?

https://blockchain.info/tx/eff86901547279a9be4ccdba5a3be3cdf57c3280a3c3db16cf318580a4c9061a

(0.0000543 BTC the amount received)

 You didn't just get  it; that's two weeks old.  Stop causing alarm for nothing.
Everyone else is aware of this and it is legit.  Read the thread.

[hdbuck]

I just received a payment to my ASICMINER dividend address.  Are they paying dividends again or is this just a random spam transaction?

https://blockchain.info/tx/eff86901547279a9be4ccdba5a3be3cdf57c3280a3c3db16cf318580a4c9061a

(0.0000543 BTC the amount received)

 You didn't just get  it; that's two weeks old.  Stop causing alarm for nothing.
Everyone else is aware of this and it is legit.  Read the thread.

[Sine(X)]

Did AM change strategy and begin/increase self-mining? 20Phs like other manufacturer companies?

I'm waiting the lower maintenance (they announced on AMHash thread), less then 0.049$ - fantastic.. Or as AMHash said Magic...

[arnuschky]

Remember when we mined the block where some poor guy accidentally included a 200 BTC transaction fee?  Friedcat refunded it immediately.  Nobody could have done anything had he kept it.  Thousands of dollars straight out of his own pocket.  He didn't waffle about it.  He didn't consult the opinions of others.  He just did the right thing and gave the guy his money back.

ASICminer may sink or swim.  They have made some pretty glaring missteps and pissed away whatever advantage they once had to dominate the market.  But they did it honestly.  They have paid back 6 times IPO, it isn't Friedcat's fault people got carried away on the price they paid for shares.  He could have sold out and walked away a rich man.  He didn't.

Whatever problems there have been are understandable albeit disappointing.  They are slamming out custom chip designs as fast as they can and rushing them into production.  Failure shouldn't be a surprise to anyone.  THIS IS NOT AN INVESTMENT, it is speculation.  Startups fail, only something like 1 in 10 ever turn a profit for initial investors.

I believe ASICminer's management team is honest.  I have reasonable faith they are learning from their mistakes.  I am certain that this company is the only shot I have at being profitably involved in mining going forward.  I recognize that my money could evaporate into nothing.  If Gen 4 succeeds I calculate we could make a tidy profit with today's share price.  The last year has sucked, but that is meaningless going forward.  

This.

[newIndia]

Remember when we mined the block where some poor guy accidentally included a 200 BTC transaction fee?  Friedcat refunded it immediately.  Nobody could have done anything had he kept it.  Thousands of dollars straight out of his own pocket.  He didn't waffle about it.  He didn't consult the opinions of others.  He just did the right thing and gave the guy his money back.

ASICminer may sink or swim.  They have made some pretty glaring missteps and pissed away whatever advantage they once had to dominate the market.  But they did it honestly.  They have paid back 6 times IPO, it isn't Friedcat's fault people got carried away on the price they paid for shares.  He could have sold out and walked away a rich man.  He didn't.

Whatever problems there have been are understandable albeit disappointing.  They are slamming out custom chip designs as fast as they can and rushing them into production.  Failure shouldn't be a surprise to anyone.  THIS IS NOT AN INVESTMENT, it is speculation.  Startups fail, only something like 1 in 10 ever turn a profit for initial investors.

I believe ASICminer's management team is honest.  I have reasonable faith they are learning from their mistakes.  I am certain that this company is the only shot I have at being profitably involved in mining going forward.  I recognize that my money could evaporate into nothing.  If Gen 4 succeeds I calculate we could make a tidy profit with today's share price.  The last year has sucked, but that is meaningless going forward.  

This.

Do we know the real life identity of this management team, like we do for CEX.io => https://cex.io/about/ ?

[xhomerx10]

I just received a payment to my ASICMINER dividend address.  Are they paying dividends again or is this just a random spam transaction?

https://blockchain.info/tx/eff86901547279a9be4ccdba5a3be3cdf57c3280a3c3db16cf318580a4c9061a

(0.0000543 BTC the amount received)

 You didn't just get  it; that's two weeks old.  Stop causing alarm for nothing.
Everyone else is aware of this and it is legit.  Read the thread.

 Seriously, a hero member comes in here telling us he just got divs.   Made me look!  ...and I'm still upset about it. 

[NotLambchop]

...
Why do people even post here? Some people have diversified portfolios. Sometimes investments work, sometimes they don't. Stahp.

I was addressing this thread in particular, not being too interested in the rest of your well-balanced portfolio.
Since we're on the subject tho, how's that Active Mining investment of yours working out, stackin' cheddar?  Everything good?

[jjdub7]

I believe ASICminer's management team is honest.  I have reasonable faith they are learning from their mistakes.  

Unfortunately, if anyone's been paying any attention to the Prisma thread, this honesty hasn't done a thing to dissuade customers from the ASICMINER brand - a heavy loss, as ASIC chip manufacturers are essentially dead in the water once they've fucked up.  

We needed a blowout with the Tubes/Prismas, and instead we saw the last of AM's goodwill burned away by an inferior product.  The only thing that could sway my opinion as an analyst at this point is AM buying out and acquiring Rockminer as their hardware assembly and customer/investor relations branch with a subsequent re-evaluation of overall strategy.  Anything other than this would constitute an absolute failure, regardless of whatever dividends are released this quarter or half.  

The BTC0.1 point is not a buy, but rather a heavy, heavy sell at these BTC-USD prices based on consumer sentiment, with my neutral point being around 0.0775, with a buy at 0.05.  There are other full-hardware ASIC brands that have outdone AM on customer relations and overall satisfaction - the ability to leave a device running without worrying about it is a key factor that has been left unmet by this past generation of devices.  Moving forward, shareholders cannot expect a sustainable return on a BTC0.1 investment within the next year with the current market sentiment aligned the way it has currently fallen following the Prisma/Tube shitshow that has surfaced, especially considering the response by the company to dissatisfied orders - do you really think the major US resellers are about to make orders for AM's next generation of hardware?  Canary and CrazyGuy, et al. will likely be dealing with lemon-based complaints well into the new year.

I sold off the last of my holdings today at BTC0.098 for a sad loss, and based on what I've read from customers (not to mention what I've not read from friedcat&co. due to an utter lack of communication), I've set my expectations for lower future sales based on the current pricing strategy accordingly.

My caveat emptor advice to readers: do not buy until you feel the price of shares accurately represents the value of the company again.  Do your research, compare AM's market cap and internal rate of return to companies on the open (even fiat) markets, and only then - buy accordingly.  A ~$14m valuation may appear as a bargain compared to historic returns, but again, never base investment decisions on historic performance, especially whe the majority of a company's balance sheet relies on "goodwill", which has surely been obliterated by the most recent generation of hardware.

For comparison, take a look at the fundamentals of AMD, which has been similarly priced and has similar fundamentals to AM in recent years.  I'm not saying AM is a total loss right now, but as an investor, I'm certainly not trying to hold stock at this price point.

[raskul]

I believe ASICminer's management team is honest.  I have reasonable faith they are learning from their mistakes.  

Unfortunately, if anyone's been paying any attention to the Prisma thread, this honesty hasn't done a thing to dissuade customers from the ASICMINER brand - a heavy loss, as ASIC chip manufacturers are essentially dead in the water once they've fucked up.  

We needed a blowout with the Tubes/Prismas, and instead we saw the last of AM's goodwill burned away by an inferior product.  The only thing that could sway my opinion as an analyst at this point is AM buying out and acquiring Rockminer as their hardware assembly and customer/investor relations branch with a subsequent re-evaluation of overall strategy.  Anything other than this would constitute an absolute failure, regardless of whatever dividends are released this quarter or half.  

The BTC0.1 point is not a buy, but rather a heavy, heavy sell at these BTC-USD prices based on consumer sentiment, with my neutral point being around 0.0775, with a buy at 0.05.  There are other full-hardware ASIC brands that have outdone AM on customer relations and overall satisfaction - the ability to leave a device running without worrying about it is a key factor that has been left unmet by this past generation of devices.  Moving forward, shareholders cannot expect a sustainable return on a BTC0.1 investment within the next year with the current market sentiment aligned the way it has currently fallen following the Prisma/Tube shitshow that has surfaced, especially considering the response by the company to dissatisfied orders - do you really think the major US resellers are about to make orders for AM's next generation of hardware?  Canary and CrazyGuy, et al. will likely be dealing with lemon-based complaints well into the new year.

I sold off the last of my holdings today at BTC0.098 for a sad loss, and based on what I've read from customers (not to mention what I've not read from friedcat&co. due to an utter lack of communication), I've set my expectations for lower future sales based on the current pricing strategy accordingly.

My caveat emptor advice to readers: do not buy until you feel the price of shares accurately represents the value of the company again.  Do your research, compare AM's market cap and internal rate of return to companies on the open (even fiat) markets, and only then - buy accordingly.  A ~$14m valuation may appear as a bargain compared to historic returns, but again, never base investment decisions on historic performance, especially whe the majority of a company's balance sheet relies on "goodwill", which has surely been obliterated by the most recent generation of hardware.

For comparison, take a look at the fundamentals of AMD, which has been similarly priced and has similar fundamentals to AM in recent years.  I'm not saying AM is a total loss right now, but as an investor, I'm certainly not trying to hold stock at this price point.

Herein lies the problem with self-contained public offerings as a whole. Companies who float stocks for public sale normally are required to show heavy adherence to many regulatory bodies before being accepted on likewise; heavily regulated, stock exchanges. Indeed there are rogue companies not just in the ASIC industry who will rely on the loyalty and high expectations of closely-linked investors / customers, but investing in anything 'off-the-grid' as it were, is a highly risky business to partake in, as has been explained by jjdub7 above.. who has accepted the loss which is current. That, however does in no way mean that AM 1/2/3 et al share prices will not rise again in the future. Looking at the state of play as is, furthermore assures me that I, for one, would also be looking to sell off at this slight loss prior to incurring more of a hit.

take it this way, AM is the only h/w that I do not have, either powered down or currently running. I'm obsessive with my miners and can't stop tinkering, but I wouldn't want anything which carries an AM chip, that is currently on the market. I've gone through machines from all other manufacturers, sometimes at my delight, other times with a screwface and as one who remains very cautious inasmuch that I never buy a batch1 device, I just can't see myself wanting to buy anything with BE300, i fear (for those who are invested) that particular chip is going to be again, way behind the mark on h/w released concurrently with it.

My own caveat emptor on investments comes from many many years of ups and downs trading in many different commodities and i'm currently sitting with stock of 100barrels of brent which i'm unlikely to make profit on for a good couple of years. Bear in mind the situation that you are in, with likeness to my own situation with my brent, your investment in AM may or may not be safe to profit from in the future, but it also may be quite some time before you are able to sell at profit - I have people who would want to buy my stocks but that is a stock which will be required. AM ASICS may well not be required this time next year, if they don't get BE300 to the top of the efficiency pile.

[KarmaShark]

I sold off the last of my holdings today at BTC0.098 for a sad loss, and based on what I've read from customers (not to mention what I've not read from friedcat&co. due to an utter lack of communication), I've set my expectations for lower future sales based on the current pricing strategy accordingly.

Should have waited, could have sold for 50% more. AM1 sits at 0.15BTC/share as we speak.

[btcbot]

Good volume, too... must be an insider.  Divs soon?

[KarmaShark]

Good volume, too... must be an insider.  Divs soon?

Doubtful, we are one week from receiving Gen4 sample chips, and another 7-10 days from testing results if AM releases the information to us before 2015. The only other anticipated event is the year end financials which are due out any day now.

[ujka]

Good volume, too... must be an insider.  Divs soon?

I don't think this is about divs, more like ppl are impatient for the (good) news on gen4...

[btcbot]

Good volume, too... must be an insider.  Divs soon?

Doubtful, we are one week from receiving Gen4 sample chips, and another 7-10 days from testing results if AM releases the information to us before 2015. The only other anticipated event is the year end financials which are due out any day now.

Yup... I was just thinking about Roxxie's comment, a month or so ago, that AMHash was how AM was going to become a 'good' company again.