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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3885756 times)
burnside
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April 03, 2013, 01:03:17 AM
 #2801

I get that, but why does it take nearly a month now? I would expect slow rise in hashrate, but it stands still for 4 weeks.

They have problems with getting the need power supply and network problems. They wouldnt decide to sell units if these problems wouldnt be serious or could be repaired fast because selling units wont bring the same money than hashing yourself. And they didnt want to sell before. So i dont doubt the problems. Its a pity that it cant be repaired fast but no one outside knows exactly whats the problem.

Does GLBSE/nefario still owe ASICMINER any BTC?

Yes. 1688.188BTC

GLBSE wasn't incorporated, it was Nefario sole prop.  Probably worth the legal fees to get a judgment against him personally.  Maybe garnish some wages or something.  (I'm not sure how it works over in the UK?)
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April 03, 2013, 01:08:31 AM
 #2802

I get that, but why does it take nearly a month now? I would expect slow rise in hashrate, but it stands still for 4 weeks.

They have problems with getting the need power supply and network problems. They wouldnt decide to sell units if these problems wouldnt be serious or could be repaired fast because selling units wont bring the same money than hashing yourself. And they didnt want to sell before. So i dont doubt the problems. Its a pity that it cant be repaired fast but no one outside knows exactly whats the problem.

Does GLBSE/nefario still owe ASICMINER any BTC?

Yes. 1688.188BTC

GLBSE wasn't incorporated, it was Nefario sole prop.  Probably worth the legal fees to get a judgment against him personally.  Maybe garnish some wages or something.  (I'm not sure how it works over in the UK?)


I'd happily trade that if he spent the rest of his life in jail over multiple counts of securities fraud over this. I'd be worth it, every dime.

ThickAsThieves
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April 03, 2013, 01:21:32 AM
 #2803

Friedcat, can we have some more hashes this week? My birthday is soon. Thanks!
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April 03, 2013, 02:03:44 AM
 #2804


I'd happily trade that if he spent the rest of his life in jail over multiple counts of securities fraud over this. I'd be worth it, every dime.

+1

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April 03, 2013, 02:05:24 AM
 #2805

I get that, but why does it take nearly a month now? I would expect slow rise in hashrate, but it stands still for 4 weeks.

AM/BF are apparently building themselves a data center.  It's not clear whether AM or BitFountain is funding/will own it.

Perhaps FC's next update will elaborate (*cough* hint, hint *cough*).

But at least we know AM investors are coming for the ASICs and getting a data center in China as a 'bonus.'   Tongue


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April 03, 2013, 02:27:00 AM
 #2806


I'd happily trade that if he spent the rest of his life in jail over multiple counts of securities fraud over this. I'd be worth it, every dime.

+1

$200k at current prices. Would be nice to have had it to pay for the extra THash... is there any work being done to get it back? Were those BTC on reserve with him? Did he just steal them? What is the hypothesis?

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April 03, 2013, 07:23:18 AM
Last edit: April 03, 2013, 08:25:59 AM by r.willis
 #2807

Are there photos of AM units, boards, chips and whole installation?
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April 03, 2013, 08:11:59 AM
 #2808

Are there photos of AM units, boards, chips and while installation?

Only pictures of the boards (with the chips on it)

(336+ MH/s x 64 = 21GH/s+ board?)

Asicminer Hashrate Charts @ www.asicminercharts.com

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April 03, 2013, 08:35:00 AM
 #2809

Please, Please move heaven and earth to get  the chips deployed ASAP.  I am not convinced that selling hardware is best now...  I should rather see the hardware be deployed, right now, mining for us.
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April 03, 2013, 09:23:43 AM
 #2810

Please, Please move heaven and earth to get  the chips deployed ASAP.  I am not convinced that selling hardware is best now...  I should rather see the hardware be deployed, right now, mining for us.

Selling the shovels is ALWAYS the most profitable.

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April 03, 2013, 10:33:39 AM
 #2811

Selling the shovels is ALWAYS the most profitable.

Only if the gold rush doesnt make everyone rich. And that doesnt apply to bitcoin at the moment. Its way more profitable to mine now than selling asics. Even though auctioning asics would be the best way to get the most profit out of selling at least.

$200k at current prices. Would be nice to have had it to pay for the extra THash... is there any work being done to get it back? Were those BTC on reserve with him? Did he just steal them? What is the hypothesis?

I believe he would pay it back if he could. But he cant because he probably took btc out of the system to pay for something. Now he cant afford to buy them back and cant pay.
Im not sure if he still keeps some money that he thinks the glbse-shareholders own him as a salary.

It was not an llc. Any stock holder including theymos is liable. This is a fact in us law.

Thats sad. They couldnt do anything against what nefario did, they lost all the invested money because of what he did and now they have to pay even for what nefario did? Really sad...

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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April 03, 2013, 10:46:04 AM
 #2812

Please, Please move heaven and earth to get  the chips deployed ASAP.  I am not convinced that selling hardware is best now...  I should rather see the hardware be deployed, right now, mining for us.

Selling the shovels is ALWAYS the most profitable.

In theory, with proper pricing (and an Auction would be a good way of doing price discovery), then the owners of ASICMINER shares would be no worse off if ASICMINER started selling hardware rather than mining with it.  And it's possible we'd be better of, if ASICMINER is able to sell more hardware than they can deploy.

But it seems like it could be a lot of hassle for management to go through the process of selling/shipping all that hardware, setting up a website to collect payment etc.

And that leaves those of us who actually want to mine with shares in ASICMINER that are now mining a tiny fraction of the network.

Maybe we need to canvas some ideas other than outright selling hardware.

What if each each ASICMINER share entitled its owner to purchase at or near cost a mining unit with 1GH/s capability, say.  Now with 200,000 shares, there's your 200 TH/sec.   Or maybe instead of purchase near cost, it's paid for with forgone dividends, and once all units are shipped the next batch starts, until such time that the income from mining won't support production any more.

Or if we're intent upon retailing, maybe ASICMINER shareholders get preference in all shipping/delivery of miners.

How about this for an idea - instead of a share entitling you to purchase a 1GH/s miner, you can swap your share for a 1GH/s miner.  And for every retired share, ASICMINER would then sell a class-B share on-market.   Class B shares could also be swapped for miners, and would have full voting rights, but wouldn't be eligible for dividends.  That way those that decide to hang on to their Class A shares would be rewarded with an increasing share of a smaller dividend pie.

Of course we could just sell the units retail to the highest bidders and distribute profits to shareholders, and those shareholders that wish to mine can simply purchase and mine themselves.

I'm sure there are other options out there that will maximise the value for shareholders (where value != BTC necessarily).

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April 03, 2013, 11:09:45 AM
 #2813

Today is Dividends day?  Cool
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April 03, 2013, 11:56:02 AM
 #2814

Today is Dividends day?  Cool

Ha ha, this a globally owned a company run out of China.  Dividends for us here in Asia are tomorrow (Thursday) Smiley

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April 03, 2013, 12:33:43 PM
 #2815

Today is Dividends day?  Cool

Ha ha, this a globally owned a company run out of China.  Dividends for us here in Asia are tomorrow (Thursday) Smiley

In China will be thursday in 4 hours  Grin
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April 03, 2013, 02:19:59 PM
 #2816

Get ready for some satoshi's Smiley
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April 03, 2013, 02:20:29 PM
 #2817

I just got some satoshis in from AM.  Grin

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April 03, 2013, 02:38:45 PM
 #2818

How about this for an idea - instead of a share entitling you to purchase a 1GH/s miner, you can swap your share for a 1GH/s miner.  And for every retired share, ASICMINER would then sell a class-B share on-market.   Class B shares could also be swapped for miners, and would have full voting rights, but wouldn't be eligible for dividends.  That way those that decide to hang on to their Class A shares would be rewarded with an increasing share of a smaller dividend pie.
While I can see the rationale behind that idea - it will end in a nightmare, because when you offer people a choice like that, they will turn around and try to undo it if things don't turn out as they hoped. If you invest in ASICMINER you invest in bitfountain and the leadership team. This includes trusting in their capacity to make business decisions which are in the best interest of investors. So while some freedom of choice is certainly desirable - delegating allocation decisions to small scale investors is going to far.

That said - there is discussion on the board on how to "optimally" allocate/deploy the produced hash power. So it's a hot topic.

I'm sure there are other options out there that will maximise the value for shareholders (where value != BTC necessarily).
Yes - those other options need exploring.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
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April 03, 2013, 02:43:26 PM
 #2819

Asic miner is a good investment. Conversion from glbse to me was without problem. I'm glad I invested something in it Smiley

Could someone explain to me how I buy new shares (obviously from other users) and register them with Asicminer?

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April 03, 2013, 03:55:05 PM
 #2820

0.00255553/share this week, which was too be expected. friedcat already mentioned that last week's and this week's dividend payment would be much lower for the incoming 200 Th/s. I'm more curious about the update than the payment for this week.
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