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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3897017 times)
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March 14, 2015, 03:11:51 PM
 #26061

...Why don't you 2 set up an exchange commission for bitcoin related investments and set up some basic accounting and reportability criteria for listings?  That would be awesome.

I always assumed the whole point of "investing" in Bitcoin securities is degradation & humiliation?
How would introducing basic accountability maximise the above aforementioned?
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March 14, 2015, 03:16:27 PM
 #26062

I figured Hashlord was like the Landlord of mining, so probably an informal title for the DC owner/operator.

We seem to be in overall agreement but I think that rather than "HashLord" (with a capital L) being a person or an informal title, it's a company name or brand like HashRatio or Hashnest.
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March 14, 2015, 03:24:39 PM
 #26063

There is obviously a LOT that we don't know still. What frustrates me is how such a relatively large (in both value, hardware, expertise and staff) operation can vanish without the community knowing more than it does.
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March 14, 2015, 04:01:13 PM
 #26064

...Why don't you 2 set up an exchange commission for bitcoin related investments and set up some basic accounting and reportability criteria for listings?  That would be awesome.

I always assumed the whole point of "investing" in Bitcoin securities is degradation & humiliation?
How would introducing basic accountability maximise the above aforementioned?

 It's a start-up industry and as you may or may not know, most fledging companies never make it past year one. There is no degradation or humiliation in trying.  We as "investors" see potential in the industries surrounding bitcoin but don't necessarily have the ability, funds, or wherewithal to create our own start-up so we place our faith in others who seem to know how.  Sometimes we lose, sometimes we win.  The only degradation I see comes from you and your ilk; sitting on the sidelines pretending to have all the answers and taking glee in other's losses.  AM did quite well in the early years and it wasn't "luck" as friedcat has abilities beyond yours and mine but Friedcat is still human and I would imagine when subjected to the stresses involved in running a company would have a similar reaction to the rest of us.  I mean look, even NotLambChop has lost interest in his incessant, condescending posting in here and he really enjoyed it.  Perhaps it also became too much for him to continue?  So it seems that Friedcat and NotLambChop have given up on their vocation to both our joy and to our dismay.  I feel neither degrade nor humiliated and I wish them well.
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March 14, 2015, 04:12:30 PM
 #26065

...Why don't you 2 set up an exchange commission for bitcoin related investments and set up some basic accounting and reportability criteria for listings?  That would be awesome.

I always assumed the whole point of "investing" in Bitcoin securities is degradation & humiliation?
How would introducing basic accountability maximise the above aforementioned?

 It's a start-up industry and as you may or may not know, most fledging companies never make it past year one. There is no degradation or humiliation in trying.  We as "investors" see potential in the industries surrounding bitcoin but don't necessarily have the ability, funds, or wherewithal to create our own start-up so we place our faith in others who seem to know how.  Sometimes we lose, sometimes we win.  The only degradation I see comes from you and your ilk; sitting on the sidelines pretending to have all the answers and taking glee in other's losses.  AM did quite well in the early years and it wasn't "luck" as friedcat has abilities beyond yours and mine but Friedcat is still human and I would imagine when subjected to the stresses involved in running a company would have a similar reaction to the rest of us.  I mean look, even NotLambChop has lost interest in his incessant, condescending posting in here and he really enjoyed it.  Perhaps it also became too much for him to continue?  So it seems that Friedcat and NotLambChop have given up on their vocation to both our joy and to our dismay.  I feel neither degrade nor humiliated and I wish them well.


There is no shame in giving up. There is some in an entire company disappearing overnight and offering no explanation. I think the community as a whole would be fairly OK with "we ran out of funds to purchase wafers and our mining operations profitability cannot carry the company. We out!" But the silent approach is not kosher.

Also seems odd since even with FC missing (if the rest of the operation is still functioning) I would think that their IP collection, customer list and name would carry a fairly significant value to other large operations in the space.
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March 14, 2015, 04:24:00 PM
 #26066

...Why don't you 2 set up an exchange commission for bitcoin related investments and set up some basic accounting and reportability criteria for listings?  That would be awesome.

I always assumed the whole point of "investing" in Bitcoin securities is degradation & humiliation?
How would introducing basic accountability maximise the above aforementioned?

 It's a start-up industry and as you may or may not know, most fledging companies never make it past year one. There is no degradation or humiliation in trying.  We as "investors" see potential in the industries surrounding bitcoin but don't necessarily have the ability, funds, or wherewithal to create our own start-up so we place our faith in others who seem to know how.  Sometimes we lose, sometimes we win.  The only degradation I see comes from you and your ilk; sitting on the sidelines pretending to have all the answers and taking glee in other's losses.  AM did quite well in the early years and it wasn't "luck" as friedcat has abilities beyond yours and mine but Friedcat is still human and I would imagine when subjected to the stresses involved in running a company would have a similar reaction to the rest of us.  I mean look, even NotLambChop has lost interest in his incessant, condescending posting in here and he really enjoyed it.  Perhaps it also became too much for him to continue?  So it seems that Friedcat and NotLambChop have given up on their vocation to both our joy and to our dismay.  I feel neither degrade nor humiliated and I wish them well.


There is no shame in giving up. There is some in an entire company disappearing overnight and offering no explanation.

Yeah, it certainly isn't the way to liquidate a failed company and be fair to all parties. As an IPO investor in AM this has been a profitable investment for me but I really don't like this situation at all, especially since it is looking like yet another exit scam black mark for pseudonymous bitcoin ventures. Also as an IPO investor in AM I feel that it was our money that made this possible.  Identity and reputation are important in business and I guess this is yet another life lesson any investors. 

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March 14, 2015, 04:30:33 PM
 #26067

...yet another exit scam black mark for pseudonymous bitcoin ventures
...Identity and reputation are important in business and I guess this is yet another life lesson any investors.  

So many life lessons...  You must be at least a PhD by now, doctor.
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March 14, 2015, 05:30:00 PM
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Q) I think a price "explosion" is imminent,  not to ATH territory,  but $400 or so is definitely in the cards.
A) 400 will likely not be enough. A reasonable risk/reward ratio starts at > 1000 USD.

Q) What kind of dollars are we talking would be required from such an investor? 
A) > $10M for a packaged deal to make sense.

Q) Does AM have possession of the IP related to BE300?
A) Yes. AM management also has a direct account with TSMC.

Q) You say the funding situation is Dire,  is this due to FC being in sole possession of the keys?
A) The funding situation is very opaque. David Fan cannot provide information on current accounting. He is currently paying bills from some of the remaining company funds, surplus cash flow and personal funds. The accounting was managed by friedcat, and the last financial statement was delivered 4 months late and incomplete. He was asked to make it complete, clean it up and publish it - which never happened. Given the current circumstance I may as well show the incomplete statement, which covers the time May/2014-Oct/2014:
https://mega.co.nz/#!YUtUwa4K!o9VTJYkv0-eO0V6UU3vPwXZshItuBwq-z146p0pBH6E

Q) Do you think FC is safe?
A) I have insufficient information for such a conjecture. I certainly hope he is safe.

Q) Is there a plan yet to compensate shareholders for Amhash1 shares held on Havelock?
A) On the side of AM any compensation would likely have to be financed either through operating revenue (which currently is going to 0 due to bitcoin price staying low and required funding to restock chip inventory) or the personal funds of volunteering shareholders. Unfortunately the morale among shareholders is rock bottom so everyone is looking at David Fan, especially since he also has an official company function. The question which is not so easy to answer is whether there would be a moral or legal obligation for such "volunteering". That said, he expressed his desire to develop a compensation plan for contract holders, conditional on the premise that everybody in the delivery chain carries a fair share.

Q) Hi, I don't get it, David should be as rich as FC! Why doesn't he invest into his company? Or rent coins to AM?
A) Why invest in a company which is loaded with liability when you don't feel responsible for the current situation? Also, wouldn't it be smarter to use the funds to restock the company with the latest chips in order to generate a profit from which these liabilities can be served? At the end this is a structural problem, that's why a reorganization of the company may be unavoidable.

Q) In the situation where the BTC price rises and free's up additional capital or VC money comes in to support the production of BE300, could shareholders reasonably expect to see some type of return later this year?
A) I cannot give investment advise. There are two types of returns. Revenue through increased market price and dividends. It would be very unlikely to see a company in the current state paying any dividends in the immediate future. Funds are better used to solve structural problems. The only exception to this would be a liquidation event of an unknown amount.

Q) Is the only other option the company goes under due to lack of funds and the legal process begins for those who wish to pursue it?
A) Provided that the core team stays intact and true to the mission the company would likely co-exist with bigger corps in the market place. How that would be structured is unknown. Any legal proceedings would of course hamper the ability of the company to operate, unless the situation is very asymmetric (i.e. legal defense costs are dramatically lower than legal offense costs).

Q) Anything else you can share with me would be appreciated. I would like your candid thoughts on the likelihood of VC coming in to play the role of white knight in the next 30-60 days window BE300 competitively has to get out to market. The other scenario is bound to happen, however we do not know if the price rise will take place in time for the chip to be profitable to product en masse.
A) The only way to make this work with an outside investor within 30-60 days is to do a clear cut reorg with a new Manager who has some experience in the industry.

Q) Why did ASICMiner wait weeks to provide concrete answers on the situation?
A) The board was officially fully informed of the "FC missing" problem at the end of February. Since then there has been a struggle for information, especially since FC apparently made himself a single point of failure on all kind of things. It was always assumed that David Fan was fully briefed on all aspects of the business - however that seems to be not the case.

Q) Are customers/investors threatening legal action at this time?
A) Yes.

Q) Is there a dispute between ROCKMINER and ASICMINER, and if so, can you share what is happening?
A) There is a dispute. The problem is that the underlying agreement is cluttered throughout write-ups, emails and verbal hearsay. And now FC is missing and cannot make a statement.

Q) Is ASICMiner solvent? Has ASICMiner taken steps to secure additional funding for core projects, chip development, etc.?
A) AM management seems to have failed to secure funding for core activities and the funding situation seems to have degenerated dramatically since Nov/2014. The problem is that there are no proper records to validate those claims quickly. An accountant would have to do a complete transactional rerun, using one of the valid financial statements as a checkpoint. According to David Fan the company bank accounts are low on funds and any remaining company funds may reside in accounts only FC has access to.

Q) What's next for ASICMiner?
A) There is increasing evidence that AM seems to be a one trick pony. I have no other way of putting it. As such, provided the bitcoin price rises, you can expect bitcoin mining devices to be produced which - should the profit margin be sustainable - should create shareholders value.

Q) With regards to the AM situation, could you elaborate on the what HashLord is and the role it played in AMHash?
A) I am sorry for the potential confusion. Hashlord was coined in reference to Landlord as the entity who is in control of the hashing power. At the current time it is not clear WHO that entity really was (Operator/AM/RM/FC/Third party). Obviously the operator can alway become the Hashlord by replugging the mining devices. That may have been the case - but there is no data to confirm that.

I hope I covered all the questions. If I missed one please state it again.

Regards

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
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March 14, 2015, 05:37:03 PM
 #26069

I wonder what the IP value for their already-completed-and-tested BE300 chip design is? With the possible exception of Bitfury's new chip (and if they were really impressed with it wouldn't they be advertising it?) the BE300 is the best ASIC that currently actually exists.

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March 14, 2015, 05:42:06 PM
 #26070

I wonder what the IP value for their already-completed-and-tested BE300 chip design is? With the possible exception of Bitfury's new chip (and if they were really impressed with it wouldn't they be advertising it?) the BE300 is the best ASIC that currently actually exists.

How long would it take to be usable though? I think the issue is by the time someone actually makes the BE300 it will be like the BE200 - Late to the game. Securing an investor for 10 Million is not easy when FC is MIA.

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March 14, 2015, 06:12:48 PM
 #26071

.....

Jutarul, thank you..... I actually have had the hiccups for about 20 minutes.... then i read this.... f*ck me they disappeared without me noticing
Away out to enjoy the weekend.
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March 14, 2015, 07:08:50 PM
 #26072

is there a balance sheet available ?

What BE200 remains unsold and in stock ?  

Is there BE400 IP yet?

Is there a rough break down of the 10M required?   Is it possible to break it up in to milestones as to limit the initial risk for people that may want to get involved?

What is the turn around time on a BE300 order,  to packaged chips in hand?


I think there should be some feelers put out there,  for an AM Preferred share,  there are approximately 35k unsold shares that were returned to Bitfountain after the IPO.   Give preferential repayment and hardware purchasing terms to these holders and see if the market will bite.  This does not affect the authorized shares and is not dilution.  


Holding back any remaining info about what actually happened with friedcat isn't going to be good for anyone.   If there is something everyone needs to know,  just spit it out,  this is directed at David Fan.


Jutarul thank you for your work in helping answer these questions.





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March 14, 2015, 07:24:23 PM
 #26073

Q) I think a price "explosion" is imminent,  not to ATH territory,  but $400 or so is definitely in the cards.
A) 400 will likely not be enough. A reasonable risk/reward ratio starts at > 1000 USD.

Q) What kind of dollars are we talking would be required from such an investor?  
A) > $10M for a packaged deal to make sense.

Q) Does AM have possession of the IP related to BE300?
A) Yes. AM management also has a direct account with TSMC.

Q) You say the funding situation is Dire,  is this due to FC being in sole possession of the keys?
A) The funding situation is very opaque. David Fan cannot provide information on current accounting. He is currently paying bills from some of the remaining company funds, surplus cash flow and personal funds. The accounting was managed by friedcat, and the last financial statement was delivered 4 months late and incomplete. He was asked to make it complete, clean it up and publish it - which never happened. Given the current circumstance I may as well show the incomplete statement, which covers the time May/2014-Oct/2014:
https://mega.co.nz/#!YUtUwa4K!o9VTJYkv0-eO0V6UU3vPwXZshItuBwq-z146p0pBH6E

Q) Do you think FC is safe?
A) I have insufficient information for such a conjecture. I certainly hope he is safe.

Q) Is there a plan yet to compensate shareholders for Amhash1 shares held on Havelock?
A) On the side of AM any compensation would likely have to be financed either through operating revenue (which currently is going to 0 due to bitcoin price staying low and required funding to restock chip inventory) or the personal funds of volunteering shareholders. Unfortunately the morale among shareholders is rock bottom so everyone is looking at David Fan, especially since he also has an official company function. The question which is not so easy to answer is whether there would be a moral or legal obligation for such "volunteering". That said, he expressed his desire to develop a compensation plan for contract holders, conditional on the premise that everybody in the delivery chain carries a fair share.

Q) Hi, I don't get it, David should be as rich as FC! Why doesn't he invest into his company? Or rent coins to AM?
A) Why invest in a company which is loaded with liability when you don't feel responsible for the current situation? Also, wouldn't it be smarter to use the funds to restock the company with the latest chips in order to generate a profit from which these liabilities can be served? At the end this is a structural problem, that's why a reorganization of the company may be unavoidable.

Q) In the situation where the BTC price rises and free's up additional capital or VC money comes in to support the production of BE300, could shareholders reasonably expect to see some type of return later this year?
A) I cannot give investment advise. There are two types of returns. Revenue through increased market price and dividends. It would be very unlikely to see a company in the current state paying any dividends in the immediate future. Funds are better used to solve structural problems. The only exception to this would be a liquidation event of an unknown amount.

Q) Is the only other option the company goes under due to lack of funds and the legal process begins for those who wish to pursue it?
A) Provided that the core team stays intact and true to the mission the company would likely co-exist with bigger corps in the market place. How that would be structured is unknown. Any legal proceedings would of course hamper the ability of the company to operate, unless the situation is very asymmetric (i.e. legal defense costs are dramatically lower than legal offense costs).

Q) Anything else you can share with me would be appreciated. I would like your candid thoughts on the likelihood of VC coming in to play the role of white knight in the next 30-60 days window BE300 competitively has to get out to market. The other scenario is bound to happen, however we do not know if the price rise will take place in time for the chip to be profitable to product en masse.
A) The only way to make this work with an outside investor within 30-60 days is to do a clear cut reorg with a new Manager who has some experience in the industry.

Q) Why did ASICMiner wait weeks to provide concrete answers on the situation?
A) The board was officially fully informed of the "FC missing" problem at the end of February. Since then there has been a struggle for information, especially since FC apparently made himself a single point of failure on all kind of things. It was always assumed that David Fan was fully briefed on all aspects of the business - however that seems to be not the case.

Q) Are customers/investors threatening legal action at this time?
A) Yes.

Q) Is there a dispute between ROCKMINER and ASICMINER, and if so, can you share what is happening?
A) There is a dispute. The problem is that the underlying agreement is cluttered throughout write-ups, emails and verbal hearsay. And now FC is missing and cannot make a statement.

Q) Is ASICMiner solvent? Has ASICMiner taken steps to secure additional funding for core projects, chip development, etc.?
A) AM management seems to have failed to secure funding for core activities and the funding situation seems to have degenerated dramatically since Nov/2014. The problem is that there are no proper records to validate those claims quickly. An accountant would have to do a complete transactional rerun, using one of the valid financial statements as a checkpoint. According to David Fan the company bank accounts are low on funds and any remaining company funds may reside in accounts only FC has access to.

Q) What's next for ASICMiner?
A) There is increasing evidence that AM seems to be a one trick pony. I have no other way of putting it. As such, provided the bitcoin price rises, you can expect bitcoin mining devices to be produced which - should the profit margin be sustainable - should create shareholders value.

Q) With regards to the AM situation, could you elaborate on the what HashLord is and the role it played in AMHash?
A) I am sorry for the potential confusion. Hashlord was coined in reference to Landlord as the entity who is in control of the hashing power. At the current time it is not clear WHO that entity really was (Operator/AM/RM/FC/Third party). Obviously the operator can alway become the Hashlord by replugging the mining devices. That may have been the case - but there is no data to confirm that.

I hope I covered all the questions. If I missed one please state it again.

Regards

So to sum it up: asicminer doesn't give shit unless they go to jail or are seriously hunted? Also what do you mean by volunteering? FC is not indebted to us, ASICMINER is indebted to us. Your company is over no matter what happens - after such fiasco there is no coming back whatever you do, but if you have at least some dignity refund your customers you stole from and leave this business, you caused enough damage already, you should be ashamed of yourselves scammers, you are a disgrace to human beings

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March 14, 2015, 08:03:54 PM
 #26074

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.

Keep in mind the market would not have absorbed 5000 shares at the peak price. Anyone know the liquidity/slippage back when it was 5BTC or so a share?

"The difference between a castle and a prison is only a question of who holds the keys."
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March 14, 2015, 08:19:49 PM
 #26075

...
Keep in mind the market would not have absorbed 5000 shares at the peak price...

Just like the market won't absorb 5k shares today, at the not-so-peak price Smiley
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March 14, 2015, 08:39:29 PM
 #26076

...
Keep in mind the market would not have absorbed 5000 shares at the peak price...

Just like the market won't absorb 5k shares today, at the not-so-peak price Smiley
Much less slippage in BTC price though.

Well - as the title of the thread goes, ASICMINER entered the future of ASICMINING by inventing it. But couldn't go much further than that.

Congrats to all those who made a profit. As usual the name of this game is get as many bitcoins as you can.

"The difference between a castle and a prison is only a question of who holds the keys."
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March 14, 2015, 08:50:44 PM
 #26077

...
Much less slippage in BTC price though.
...

Not really, first bid is already 50% down Undecided

*But yeah, doesn't matter.
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March 14, 2015, 10:04:44 PM
 #26078

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.

Keep in mind the market would not have absorbed 5000 shares at the peak price. Anyone know the liquidity/slippage back when it was 5BTC or so a share?

5 BTC was not the peak, over 10k shares traded hands between 5-7 BTC (I believe right around 7 was the peak) and that was only on BTCT not including private deals.
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March 14, 2015, 10:06:11 PM
 #26079

Q) I think a price "explosion" is imminent,  not to ATH territory,  but $400 or so is definitely in the cards.
A) 400 will likely not be enough. A reasonable risk/reward ratio starts at > 1000 USD.

Q) What kind of dollars are we talking would be required from such an investor?  
A) > $10M for a packaged deal to make sense.

Q) Does AM have possession of the IP related to BE300?
A) Yes. AM management also has a direct account with TSMC.

Q) You say the funding situation is Dire,  is this due to FC being in sole possession of the keys?
A) The funding situation is very opaque. David Fan cannot provide information on current accounting. He is currently paying bills from some of the remaining company funds, surplus cash flow and personal funds. The accounting was managed by friedcat, and the last financial statement was delivered 4 months late and incomplete. He was asked to make it complete, clean it up and publish it - which never happened. Given the current circumstance I may as well show the incomplete statement, which covers the time May/2014-Oct/2014:
https://mega.co.nz/#!YUtUwa4K!o9VTJYkv0-eO0V6UU3vPwXZshItuBwq-z146p0pBH6E

Q) Do you think FC is safe?
A) I have insufficient information for such a conjecture. I certainly hope he is safe.

Q) Is there a plan yet to compensate shareholders for Amhash1 shares held on Havelock?
A) On the side of AM any compensation would likely have to be financed either through operating revenue (which currently is going to 0 due to bitcoin price staying low and required funding to restock chip inventory) or the personal funds of volunteering shareholders. Unfortunately the morale among shareholders is rock bottom so everyone is looking at David Fan, especially since he also has an official company function. The question which is not so easy to answer is whether there would be a moral or legal obligation for such "volunteering". That said, he expressed his desire to develop a compensation plan for contract holders, conditional on the premise that everybody in the delivery chain carries a fair share.

Q) Hi, I don't get it, David should be as rich as FC! Why doesn't he invest into his company? Or rent coins to AM?
A) Why invest in a company which is loaded with liability when you don't feel responsible for the current situation? Also, wouldn't it be smarter to use the funds to restock the company with the latest chips in order to generate a profit from which these liabilities can be served? At the end this is a structural problem, that's why a reorganization of the company may be unavoidable.

Q) In the situation where the BTC price rises and free's up additional capital or VC money comes in to support the production of BE300, could shareholders reasonably expect to see some type of return later this year?
A) I cannot give investment advise. There are two types of returns. Revenue through increased market price and dividends. It would be very unlikely to see a company in the current state paying any dividends in the immediate future. Funds are better used to solve structural problems. The only exception to this would be a liquidation event of an unknown amount.

Q) Is the only other option the company goes under due to lack of funds and the legal process begins for those who wish to pursue it?
A) Provided that the core team stays intact and true to the mission the company would likely co-exist with bigger corps in the market place. How that would be structured is unknown. Any legal proceedings would of course hamper the ability of the company to operate, unless the situation is very asymmetric (i.e. legal defense costs are dramatically lower than legal offense costs).

Q) Anything else you can share with me would be appreciated. I would like your candid thoughts on the likelihood of VC coming in to play the role of white knight in the next 30-60 days window BE300 competitively has to get out to market. The other scenario is bound to happen, however we do not know if the price rise will take place in time for the chip to be profitable to product en masse.
A) The only way to make this work with an outside investor within 30-60 days is to do a clear cut reorg with a new Manager who has some experience in the industry.

Q) Why did ASICMiner wait weeks to provide concrete answers on the situation?
A) The board was officially fully informed of the "FC missing" problem at the end of February. Since then there has been a struggle for information, especially since FC apparently made himself a single point of failure on all kind of things. It was always assumed that David Fan was fully briefed on all aspects of the business - however that seems to be not the case.

Q) Are customers/investors threatening legal action at this time?
A) Yes.

Q) Is there a dispute between ROCKMINER and ASICMINER, and if so, can you share what is happening?
A) There is a dispute. The problem is that the underlying agreement is cluttered throughout write-ups, emails and verbal hearsay. And now FC is missing and cannot make a statement.

Q) Is ASICMiner solvent? Has ASICMiner taken steps to secure additional funding for core projects, chip development, etc.?
A) AM management seems to have failed to secure funding for core activities and the funding situation seems to have degenerated dramatically since Nov/2014. The problem is that there are no proper records to validate those claims quickly. An accountant would have to do a complete transactional rerun, using one of the valid financial statements as a checkpoint. According to David Fan the company bank accounts are low on funds and any remaining company funds may reside in accounts only FC has access to.

Q) What's next for ASICMiner?
A) There is increasing evidence that AM seems to be a one trick pony. I have no other way of putting it. As such, provided the bitcoin price rises, you can expect bitcoin mining devices to be produced which - should the profit margin be sustainable - should create shareholders value.

Q) With regards to the AM situation, could you elaborate on the what HashLord is and the role it played in AMHash?
A) I am sorry for the potential confusion. Hashlord was coined in reference to Landlord as the entity who is in control of the hashing power. At the current time it is not clear WHO that entity really was (Operator/AM/RM/FC/Third party). Obviously the operator can alway become the Hashlord by replugging the mining devices. That may have been the case - but there is no data to confirm that.

I hope I covered all the questions. If I missed one please state it again.

Regards

So to sum it up: asicminer doesn't give shit unless they go to jail or are seriously hunted? Also what do you mean by volunteering? FC is not indebted to us, ASICMINER is indebted to us. Your company is over no matter what happens - after such fiasco there is no coming back whatever you do, but if you have at least some dignity refund your customers you stole from and leave this business, you caused enough damage already, you should be ashamed of yourselves scammers, you are a disgrace to human beings

$10 millions is not an outlandish sum for 10% of the network a o in current hardware + IP for the most effective 28nm chip on the market.
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March 14, 2015, 10:16:25 PM
 #26080

If they have a functional and competitive chip why not go with pre-orders like every other mining devices selling company, if they get enough money/orders they could make the chips.

Has this been discussed already?
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