ASICMINER: Entering the Future of ASIC Mining by Inventing It

[flame1012]

AsicMiner can clean up their name, and start from scratch like a new founded company.
Anything is possible if you got some dedication.
Why not?

[RoadStress]

Are you aware of the costs needed to deploy miners from chip to full working units?

Yes. - Current industry.

What about some numbers? How much do you think it would cost AM to deploy 10Ph/s considering that they have only the chips. My estimates are at ~3M$. Show me yours.

Are you aware of the current profitability considering the market conditions?

Yes. - I started mining with FPGAs... Do you know what that acronym even means?  See above.

Market conditions?   Oh, you mean Bitfury, SP, Bitmain... (Quality competitors)  Or hashrate/difficulty?  (Currently at 329,448,950 GH/s & Diff Approx 46,717,549,600).

Or How cheap can I steal my electricity?  

You got me there, I can't... But I doubt other legitimate mines do either.. and they remain competitive.

I was referring at the hashrate/difficulty conditions.

The other legitimate mines get a cheaper power price than AM can get plus the fact that since they already have their mines deployed it means that they already covered part or all of their investment while AM would be far behind if they deploy now.

Are you aware of how much money AM currently has? Or how much did they have before FC vanished?

No, and Neither do you.   I'm sure you read the same financials that everyone has.

So please.. Contribute positively, or Shut the FUCK up... ( "Go eat a bag of dicks", or whatever it is you kids say these days.)  

Let me rephrase my question. Do you think that AM has the money to deploy more than 1PH/s of miners? How much do you estimate that they can deploy right now?

From the lack of dividends and the lack of the Q4 financial report and what Jutarul said in the past days AND considering that they didn't afford to pay for their offices I think that AM has less than 500k$ liquidity.

I have shown on what I base my words. Now please show me on what are you basing your thinking that AM has money to deploy lots of miners for solo mining.

[Fordee]

 
  I fully agree that the liquidity is drying up..  but something basic is missing from this puzzle..   Unfortunately, even if AM comes back, i am sure that all shareholders of AM have lost out...  

  We may differ on the company's 'asset value' and what current liquidity is available...  

  Unfortunately true numbers won't ever be known, and if FC doesn't ever surface, then AM probably has lost a lot of resources they would otherwise have access to.

  From a triage standpoint, I still think there are other options than just shutting the doors...

  If you were at the helm of this ship, what do you think would be the best route today?


   -side note Roadstress:   After reading too many pages of 'SCAM SCAM SCAM PONZI SCAM PONZI SCAM SCAM'  perhaps I over reacted earlier with a few comments..
 
   (My apologies, it wasn't personal).

[RoadStress]

   -side note Roadstress:   After reading too many pages of 'SCAM SCAM SCAM PONZI SCAM PONZI SCAM SCAM'  perhaps I over reacted earlier with a few comments..
 
   (My apologies, it wasn't personal).

Well apologies accepted. But I never said scam or ponzi. I actually said that this is not a ponzi in reply to Icetard scammer. I got used with the constant bashing here so no worries.

Also I see that you, like some AM ex-shareholders, are still afraid to spell out some numbers because reality is a bitch.

If you were at the helm of this ship, what do you think would be the best route today?

If FC holds the wallets there is nothing much to do except to try to find some funding somehow, but I think that this is the worst tine in bitcoin mining to seek something like this.

I don't see any other solution right now. An exit would be to sell the design and to distribute the money to shareholders.

[gogxmagog]

Did he died?

[flame1012]

Did he died?

They claim that FC has gone missing.
It's what they say, we have no evidence to accept it as fact.
It might just be a story, or for real.
All we got for sure is a big question mark and a big whole in our pockets

[primeminer]

I think it is very reasonable to give them last 72 h for a clear communicate as of what their next steps will be. If no satisfactory or no info at all is released than go ahead with legal proceedings...

[flame1012]

I think it is very reasonable to give them last 72 h for a clear communicate as of what their next steps will be. If no satisfactory or no info at all is released than go ahead with legal proceedings...

I was expecting an announcement today.

[EternalWingsofGod]

I think it is very reasonable to give them last 72 h for a clear communicate as of what their next steps will be. If no satisfactory or no info at all is released than go ahead with legal proceedings...

I was expecting an announcement today.

Have not checked this mess for about a week
Anything interesting occur ?

[primeminer]

Have not checked this mess for about a week
Anything interesting occur ?

not much few funny pics, few more physical threats, handful of moans, and yet empty investors' pockets

[EternalWingsofGod]

Have not checked this mess for about a week
Anything interesting occur ?

not much few funny pics, few more physical threats, handful of moans, and yet empty investors' pockets

Thanks for the summary
So pretty much more of the same

[gogxmagog]

so as i understand they have a taped out chip ready to roll. FC is MIA and took all funds with him, but who holds the taped out chip? This has to have some value, no? of course, time is of the essence... how long do we sit around with thumbs up arses before trying to salvage what we can with this chip design? oh, right, we wait until the design is obsolete and worthless. ok. got it.

i dunno what happened to FC, but the rest of AM sure aren't doing much as far as i can see. shouldn't they be able to take action with the company without him? i cant believe he did everything there... besides designing chips and raising funds, doesn't seem like anything much really went on there anyways...great fuckin company.

and what about FC the man? if i knew someone who went missing like that, i would be all over his personality, is he shifty? manic-depressive? who does he know or talk to that might be nefarious? everyone has dark areas to their personality, no one is a saint. drugs? probably not FC... gambling? maybe, i don't know the guy. mabey hes prone to strange outbursts, takes stupid risks?

my point is, no one speaks anything to the peculiarities of his individual character. a cop would ask this stuff. is he missing because he ran, or is he missing because he ran afoul? if this is some exit scheme, its a really intriguing one. i mean, if its anything besides a giant glaring embezzlement, who would even guess it to happen?

maybe the whole bitfountain is in on it? all those 1000btc transfers...piecing off the rest of the gang, they all take their cut and go "gee, i dunno where he went? crazy, oh well, whaddaya gonna do? geez."

ill just bring up this little chestnut right here again, the second slide down, from the "salon" last summer. FC explains how they are going to throw in the towel and take all the shareholders btc using a fine working model from the recent past




never did get any sort of proper explanation about that slide, nor anything that was discussed at this salon. only the most cursory of bullet points. you don't do a day long thing and have 30 words of infos to relay.

unless theres plenty info you dont want people to hear.

[HarmonLi]

so as i understand they have a taped out chip ready to roll. FC is MIA and took all funds with him, but who holds the taped out chip? This has to have some value, no? of course, time is of the essence... how long do we sit around with thumbs up arses before trying to salvage what we can with this chip design? oh, right, we wait until the design is obsolete and worthless. ok. got it.

To put it simple: There's no money/funding. You need $10m to make some profit off of the chip, not even talking about dividends here. A large investor supposedly caved in December or something and FC only communicated this to the board in January. Then he disappeared. Risk/Reward ratio for using BTC funds at current BTC prices is too low (oh and FC has control over most funds, so there's that, yeah...)

[irritant]

so as i understand they have a taped out chip ready to roll. FC is MIA and took all funds with him, but who holds the taped out chip? This has to have some value, no? of course, time is of the essence... how long do we sit around with thumbs up arses before trying to salvage what we can with this chip design? oh, right, we wait until the design is obsolete and worthless. ok. got it.

To put it simple: There's no money/funding. You need $10m to make some profit off of the chip, not even talking about dividends here. A large investor supposedly caved in December or something and FC only communicated this to the board in January. Then he disappeared. Risk/Reward ratio for using BTC funds at current BTC prices is too low (oh and FC has control over most funds, so there's that, yeah...)

didnt bitfury buy datatank in that period, maybe they also bought FC?

[gogxmagog]

i was also thinking he might have been poached by another company. shit. isn't taking all the btc with him embezzlement? like shouldn't that btc be distributed to shareholders? i mean if this were the "real" world not unregulated anonymous internet land.

also, the taped out chip...this is IP and must have some value. or did he abscond with that too?

if he has gone "across the street" hes bound to surface soon enough. small world this asic manufacturing scene.

its all reminding me of tom sawyer, when they think he died and are all grieving, until he shows up alive and they want to kill him.

 i wonder how long the board and the rest of am knew about this? (if true)

or maybe hes out in the field spending those 1000s of btc getting chips made at some obscure Chinese plant

they do knock off electronics in china, maybe hes getting them to knock off some AM chips real cheap?

i don't know if that's even possible...

fuckin grilled cat
id like to braise his tail!

[VeeMiner]

AM really seems to be a one trick pony. First chips were a golden mine for all early investors, since the dividends stopped flowing, the company has gone to hell. Now there seems to be nothing left

[Bonam]

Now? There's been nothing left for over a year. Just smoke and mirrors.

[mc_lovin]

Now? There's been nothing left for over a year. Just smoke and mirrors.

Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

[gogxmagog]

Now? There's been nothing left for over a year. Just smoke and mirrors.

Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

that's the only thing that gives me any (very faint) hope. FC is no idiot. To just run away is idiotic. of course, I can just imagine him and the rest of bitfountain drinking beers and reading these threads, laughing at us, knowing full well there is nothing we can do about any of this.

[AirWolf]

Now? There's been nothing left for over a year. Just smoke and mirrors.

Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

that's the only thing that gives me any (very faint) hope. FC is no idiot. To just run away is idiotic. of course, I can just imagine him and the rest of bitfountain drinking beers and reading these threads, laughing at us, knowing full well there is nothing we can do about any of this.

Maybe you cannot anything about them but i can and i will if they don't come up with a solution soon.