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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3902100 times)
stripykitteh
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March 11, 2015, 10:40:48 PM
 #25941

One little detail though - FC was always conflicted which information to release to the board and which not - especially since some of the board members have a conflict of interest because they are working for the competition. As such we covered mostly the baseline of sticking to financial statements as required by law.

Not that it makes much difference now, but why allow conflicted board members? They should have either resigned from the board or stopped working for the competition.

Lack of governance has killed AM; the writing was on the wall about that a long time ago. Friedcat was left with too much to do.

 
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March 11, 2015, 10:49:55 PM
 #25942

They got no insurance (Which is pretty cheap), they deny responsibility(because they probably stole electricity and got caught), they want us to compromise(Give up our rights to some extend) and give them 2 years to fix things Smiley

What a hell of a deal.

PS: Seems like there are no real companies in China.

> ALL cloudmining companies are SCAM <
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March 11, 2015, 11:28:08 PM
 #25943

AM won me - and lost me - riches beyond my wildest dreams. It's been beautiful  Cry

TRADE FOREX, STOCKS AND COMMODITIES without the paperwork with Bitcoin: https://1broker.com/m/r.php?i=3589

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March 11, 2015, 11:30:37 PM
 #25944

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.
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March 11, 2015, 11:32:43 PM
 #25945

They got no insurance (Which is pretty cheap), they deny responsibility(because they probably stole electricity and got caught), they want us to compromise(Give up our rights to some extend) and give them 2 years to fix things Smiley

What a hell of a deal.

PS: Seems like there are no real companies in China.

What happened to the equipment? Was it just blatantly stolen? I mean we are talking several 18-wheelers worth of hardware, not exactly something you can pocket and sneak out with.
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March 11, 2015, 11:42:21 PM
 #25946


We believe that it's taken(impounded) by the police and FC arrested.

> ALL cloudmining companies are SCAM <
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March 11, 2015, 11:51:50 PM
 #25947


We believe that it's taken(impounded) by the police and FC arrested.


Well I'll be darned.
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March 11, 2015, 11:54:37 PM
 #25948

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

It would still be fairly expensive even at 0.013 5000 shares is 65 BTC
@ 300 USD = $19,500

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

It was a nice dream while it lasted, with a honeymoon period and then a slow then steady decline
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March 12, 2015, 12:02:29 AM
 #25949

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

It would still be fairly expensive even at 0.013 5000 shares is 65 BTC
@ 300 USD = $19,500


not if that is to be 'the new-emblematic-investor' who woudnt obviously mind such cheap buy in.

we're talking industry here ^^

muyuu
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March 12, 2015, 12:08:31 AM
 #25950

Best case scenario: they get investors with fresh money, giving them a priority deal - diluting current shareholder's stake worse than 1:1 on new capital.

Worst case and seemingly most likely scenario: game over, AM is worth zero and any money made from the IP/assets won't make it to the shareholders.

GPG ID: 7294199D - OTC ID: muyuu (470F97EB7294199D)
forum tea fund BTC 1Epv7KHbNjYzqYVhTCgXWYhGSkv7BuKGEU DOGE DF1eTJ2vsxjHpmmbKu9jpqsrg5uyQLWksM CAP F1MzvmmHwP2UhFq82NQT7qDU9NQ8oQbtkQ
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March 12, 2015, 12:17:47 AM
 #25951

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

I had the same frickin' thought today, but instead picked up a couple hundred shares of AAPL instead.
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March 12, 2015, 12:21:21 AM
 #25952

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

I had the same frickin' thought today, but instead picked up a couple hundred shares of AAPL instead.

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March 12, 2015, 12:29:39 AM
Last edit: March 12, 2015, 12:47:02 AM by Fordee
 #25953

Alternate scenerio:  Chip samples confirmed, all thats lacking is funds..  I'm sure that aside from  bitfountain assets/shares (2/3 of AM), that friedcat and David both made some good coin out of AM, sitting somewhere safe.  -- the IP is ready to turn into wafers, and the costs were known and planned for already. .. where is that coin hiding?   I have a hard time believing they are bankrupt...but i would believe a muti-sig wallet currently inaccessible.  

Keep in mind that the current gen chip masks are still good, and the current inventory is unknown... If AM resolves its issues and self-mines with current chips, the only real ongoing cost is electricity..  They could still slowly self-fund a revival...  Just dont expect divs soon.  Then again, most companies don't pay divs in the real world anyway.
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March 12, 2015, 12:48:12 AM
 #25954

What is ASICMiner's bus factor?
This is an excellent question, a pity it was ignored.
Or, it was ignored because maybe nobody knows the official answer (since the inner workings of ASICMINER aren't exactly clear), or because it is known that the bus factor is 1.

Took a while, but finally we know the answer to this question.
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March 12, 2015, 01:23:10 AM
 #25955

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

I had the same frickin' thought today, but instead picked up a couple hundred shares of AAPL instead.

If you can get "a few hundred" shares of Apple for $20k, hook me up Smiley
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March 12, 2015, 01:25:35 AM
 #25956


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March 12, 2015, 01:26:56 AM
 #25957

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

It would still be fairly expensive even at 0.013 5000 shares is 65 BTC
@ 300 USD = $19,500

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

It was a nice dream while it lasted, with a honeymoon period and then a slow then steady decline


Obligatory depression post:

5000 shares at the peak of AM = 30,000 BTC+ @ that times BTC price = $150 BTC) = 4.5 million
Today: $18k and change.
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March 12, 2015, 01:38:39 AM
 #25958

At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.

I had the same frickin' thought today, but instead picked up a couple hundred shares of AAPL instead.

If you can get "a few hundred" shares of Apple for $20k, hook me up Smiley

It was in the same ballpark.  I spent more on apple than I would have buying a board seat - But, way less anxious about the investment.
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March 12, 2015, 02:28:30 AM
 #25959

Best case scenario: they get investors with fresh money, giving them a priority deal - diluting current shareholder's stake worse than 1:1 on new capital.

But that's not an option:

Introduction
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.
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March 12, 2015, 02:32:12 AM
 #25960

...
I hear that some parties are considering legal steps. Let me tell you that from experience this won't end well for anybody and only results in wasting money on the parasitic elements of our economy. ...

Cheesy


My army of bankers, politicians, and lawyers can hardly be considered "parasitic elements".  They could have prevented this unfortunate mess.
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