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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3888159 times)
ThickAsThieves
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April 27, 2013, 03:53:36 PM
 #3801

Trying to get the price down?

Yes I did sell my shares, and I would considering buying again at lower prices. However, I have no illusions that the rabid AM masses will let that happen at a sensible price any time soon.

Mostly I'm asking the same thing I asked repeatedly before I sold:
Where the f$@# is all the hashing they promised?

This question should be MORE important to shareholders, so please quit trying to paint me as a manipulator. I am still an investor in bitcoin and watch many things I don't have stake in.

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velacreations
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April 27, 2013, 04:35:24 PM
 #3802

Yes I did sell my shares, and I would considering buying again at lower prices. However, I have no illusions that the rabid AM masses will let that happen at a sensible price any time soon.
I think the price will dip.  Watch for it to go into the 80's this weekend.  There are people buying, but the bid offers are pretty thin, and there are some decent ceilings, so I think the price will drop over the weekend.

Mostly I'm asking the same thing I asked repeatedly before I sold:
Where the f$@# is all the hashing they promised?

This question should be MORE important to shareholders, so please quit trying to paint me as a manipulator. I am still an investor in bitcoin and watch many things I don't have stake in.
I agree with you.  I think this is the most important thing right now.  While I am excited about the 15 TH/s coming online, I would like to know more details about all of the other TH/s that should be in deployment right now.  

What is the deployment schedule?  Do we have some realistic target dates?  Does the fact that BFL is shipping change the plans at all?

I have lots of questions, and I hope friedcat finds some time to lay it out in more detail for us.

Mausini
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April 27, 2013, 04:39:48 PM
 #3803

I think the price will dip.  Watch for it to go into the 80's this weekend.  There are people buying, but the bid offers are pretty thin, and there are some decent ceilings, so I think the price will drop over the weekend.
Dont forget, the sun is shining in some places. It might also rain. Or, someone is watching a bad movie.  Roll Eyes
velacreations
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April 27, 2013, 04:44:09 PM
 #3804

I think the price will dip.  Watch for it to go into the 80's this weekend.  There are people buying, but the bid offers are pretty thin, and there are some decent ceilings, so I think the price will drop over the weekend.
Dont forget, the sun is shining in some places. It might also rain. Or, someone is watching a bad movie.  Roll Eyes
yeah, you are right.  It is just my opinion.  That being said, I don't think these shallow dips we see every week affect the long-term viability of AM.  And truth be told, selling for 1.1, or whatever it currently is, is a great price for most of us around here.

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April 27, 2013, 05:22:10 PM
 #3805

The 15TH/s is just the following one week's schedule.

Some of the rest hashpower will be sold, some of them will be deployed in the weeks following the next week. The larger portion of them will still be deployed by ourselves.

velacreations
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April 27, 2013, 05:26:05 PM
 #3806

The 15TH/s is just the following one week's schedule.

Some of the rest hashpower will be sold, some of them will be deployed in the weeks following the next week. The larger portion of them will still be deployed by ourselves.

Since we already had 7.5 TH/s deployed, it seems like you are deploying 7.5 TH/s this week.  Is that the weekly goal for deployment, 7.5 TH/s?  Or do you plan more for next week?

furuknap
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April 27, 2013, 05:40:37 PM
 #3807

8.2

JaredR26
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April 27, 2013, 06:26:18 PM
 #3808

The 15TH/s is just the following one week's schedule.

Some of the rest hashpower will be sold, some of them will be deployed in the weeks following the next week. The larger portion of them will still be deployed by ourselves.

Since we already had 7.5 TH/s deployed, it seems like you are deploying 7.5 TH/s this week.  Is that the weekly goal for deployment, 7.5 TH/s?  Or do you plan more for next week?

Friedcat & co own more of AM than all of us put together.  They have all the motivation in the world to deploy as fast as is safely possible.  You and everyone else here armchair-speculating about their activities and second-guessing the roadblocks and speed they have helps NO ONE.

It is pretty obvious that Friedcat believes that 7.5 TH/s is a reasonable estimate for the fastest they can possibly deploy.  If he could go faster, do you not think that he would?  7.5 TH/s is *750* hashing boards that have to be mounted, powered up, firmware-flashed, pointed to the pool and debugged.  If the racks aren't fully in place, that's ~37 racks that have to be built.  And that isn't even talking about cooling.  At least one in 100 is going to have a short that requires diagnostics.  "Plan for more next week?"  lol.  Give him a fucking break.  I highly doubt any of them plan to do anything except 15 hour days 7 days a week for the next MONTH.  Honestly I'd rather them slow it down a little bit as needed because tired people make mistakes, and mistakes could cost thousands.

As far as the other people asking what happened to the other ~5.8 TH/s from the original 12, they ran into power issues.  Powering 750 hashing boards is no easy feat.  They had timed the expansion of their power capacity with the delivery of the next 50 TH/s, rather perfectly I might add.  So now they both have more power and they have the 50TH/s.  So theoretically they can bring online 55.7 TH/s now, although we are selling so it won't be quite that much.

/rant
teek
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April 27, 2013, 06:29:12 PM
 #3809

https://bitcointalk.org/index.php?topic=189248.0

 Grin

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April 27, 2013, 06:33:05 PM
 #3810

Splits are done to bring liquidity to a stock.

Take one look at BTCT.CO , do you really think a split will bring liquidity to this one stock? No, it won't.

It will be just as illiquid and harder to fill an order at a particular price because you will have more shares.

signed: the voice of reason.

Agreed.

Splits are also because of reasons of psychology. History shows that smaller investors view stocks under $10 as being 'weak' and stocks over $100 as being 'overpriced', hence why firms historically have split or consolidated shares to stay in that range.

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April 27, 2013, 06:34:26 PM
 #3811


For those scanning but not clicking links- New auction up, 50 blades this time for a total of 0.5TH/s.

48 hour auction.

Get ready for a wild ride.
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April 27, 2013, 06:35:54 PM
 #3812

I like this business, so have bought some shares recently, but it would seem a good idea to at least have a better place to clearly communicate the separate issues all being discussed in one large thread here, which include:

- Deployment rates of own mining
- Sales of chips/sticks (incl. auctions)
- Dividends and financial results
- Other issues

ASICMiner is a $50m business at current market capitalisation afterall Smiley
furuknap
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April 27, 2013, 06:41:57 PM
 #3813

Splits are also because of reasons of psychology. History shows that smaller investors view stocks under $10 as being 'weak' and stocks over $100 as being 'overpriced', hence why firms historically have split or consolidated shares to stay in that range.

My initial split suggestion was at 1/4, which would put current trades in USD at around $45, so well within that limit.

Pending further community discussion, I'll keep thinking, but I'm leaning towards that a fund-type security may be a good idea. It won't affect AM at all, nor require anything from friedcat (except maybe transfers of underlying shares to escrow or operator), and it will give more liquidity to investors.

.b

JaredR26
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April 27, 2013, 06:48:46 PM
 #3814

Splits are done to bring liquidity to a stock.

Take one look at BTCT.CO , do you really think a split will bring liquidity to this one stock? No, it won't.

It will be just as illiquid and harder to fill an order at a particular price because you will have more shares.

signed: the voice of reason.

Agreed.

Splits are also because of reasons of psychology. History shows that smaller investors view stocks under $10 as being 'weak' and stocks over $100 as being 'overpriced', hence why firms historically have split or consolidated shares to stay in that range.



Honestly, I'm against a split for now.  Friedcat & co are beyond busy with deployment, sales, and USB-stick development.  They do not and should not have time to worry about this stuff.  I'm also against a split because I like Berkshire's philosophies and do not like weak-hand investors.

That said, it would be trivially easy for someone to set up a split-passthrough.  They could split 1/100 and have 100 of their shares be worth 1 AM share, and divide the dividends accordingly.  They could even make it possible to convert 100 of their shares to 1 AM-PT share on either bitfunder or btct.co.  Better yet, if they charge a reasonably small fee(0.5% or less), it would be profitable for them.

So someone should read this message and go set it up right now.
velacreations
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April 27, 2013, 06:54:52 PM
 #3815

The 15TH/s is just the following one week's schedule.

Some of the rest hashpower will be sold, some of them will be deployed in the weeks following the next week. The larger portion of them will still be deployed by ourselves.

Since we already had 7.5 TH/s deployed, it seems like you are deploying 7.5 TH/s this week.  Is that the weekly goal for deployment, 7.5 TH/s?  Or do you plan more for next week?

Friedcat & co own more of AM than all of us put together.  They have all the motivation in the world to deploy as fast as is safely possible.  You and everyone else here armchair-speculating about their activities and second-guessing the roadblocks and speed they have helps NO ONE.

It is pretty obvious that Friedcat believes that 7.5 TH/s is a reasonable estimate for the fastest they can possibly deploy.  If he could go faster, do you not think that he would?  7.5 TH/s is *750* hashing boards that have to be mounted, powered up, firmware-flashed, pointed to the pool and debugged.  If the racks aren't fully in place, that's ~37 racks that have to be built.  And that isn't even talking about cooling.  At least one in 100 is going to have a short that requires diagnostics.  "Plan for more next week?"  lol.  Give him a fucking break.  I highly doubt any of them plan to do anything except 15 hour days 7 days a week for the next MONTH.  Honestly I'd rather them slow it down a little bit as needed because tired people make mistakes, and mistakes could cost thousands.

As far as the other people asking what happened to the other ~5.8 TH/s from the original 12, they ran into power issues.  Powering 750 hashing boards is no easy feat.  They had timed the expansion of their power capacity with the delivery of the next 50 TH/s, rather perfectly I might add.  So now they both have more power and they have the 50TH/s.  So theoretically they can bring online 55.7 TH/s now, although we are selling so it won't be quite that much.

/rant

I am just wondering what the goals and plan is, as so many things have changed.  Friedcat said that more would be deployed following this week, and I think a lot of us want to know what the plan is.  

Is it really unreasonable to ask for details on the deployment rates?


furuknap
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April 27, 2013, 06:56:20 PM
 #3816

So someone should read this message and go set it up right now.

I think I'll do just that...

I'll work on my credibility, but will be open to suggestions on acquiring the trust required. I'm fairly open about my real-life identity, and I would seek the advice of the existing pass-through operators both in forming the contract and in the continuous operation of the split-PT.  

I would also put at least some of my PT shares up for such a project.

.b

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April 27, 2013, 07:07:30 PM
 #3817

So someone should read this message and go set it up right now.

I think I'll do just that...

I'll work on my credibility, but will be open to suggestions on acquiring the trust required. I'm fairly open about my real-life identity, and I would seek the advice of the existing pass-through operators both in forming the contract and in the continuous operation of the split-PT.  

I would also put at least some of my PT shares up for such a project.

.b

i'd be happy to help, though my "trust level" isn't terribly high either, i suppose... never had a problem, just not done much beyond buy some steam games and ...uh... 1 asicminer share... *cough*

well, technically, 6... i bout 5 at IPO but sold them shortly before the glbse collapse. recently bought another from ineedausername.
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April 27, 2013, 07:16:19 PM
 #3818

The 15TH/s is just the following one week's schedule.

Some of the rest hashpower will be sold, some of them will be deployed in the weeks following the next week. The larger portion of them will still be deployed by ourselves.

Since we already had 7.5 TH/s deployed, it seems like you are deploying 7.5 TH/s this week.  Is that the weekly goal for deployment, 7.5 TH/s?  Or do you plan more for next week?

Friedcat & co own more of AM than all of us put together.  They have all the motivation in the world to deploy as fast as is safely possible.  You and everyone else here armchair-speculating about their activities and second-guessing the roadblocks and speed they have helps NO ONE.

It is pretty obvious that Friedcat believes that 7.5 TH/s is a reasonable estimate for the fastest they can possibly deploy.  If he could go faster, do you not think that he would?  7.5 TH/s is *750* hashing boards that have to be mounted, powered up, firmware-flashed, pointed to the pool and debugged.  If the racks aren't fully in place, that's ~37 racks that have to be built.  And that isn't even talking about cooling.  At least one in 100 is going to have a short that requires diagnostics.  "Plan for more next week?"  lol.  Give him a fucking break.  I highly doubt any of them plan to do anything except 15 hour days 7 days a week for the next MONTH.  Honestly I'd rather them slow it down a little bit as needed because tired people make mistakes, and mistakes could cost thousands.

As far as the other people asking what happened to the other ~5.8 TH/s from the original 12, they ran into power issues.  Powering 750 hashing boards is no easy feat.  They had timed the expansion of their power capacity with the delivery of the next 50 TH/s, rather perfectly I might add.  So now they both have more power and they have the 50TH/s.  So theoretically they can bring online 55.7 TH/s now, although we are selling so it won't be quite that much.

/rant

Thank you for writing this down. I hope many potential and current investors read it and recognize, they have fully ALIGNED INTERESTS with bitfountain. Friedcat could promise you everything under the sun. But that's more, say, BFL's thing. Friedcat is more in the delivering business  Grin
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April 27, 2013, 07:37:33 PM
 #3819

The last auction is very successful, but I think starting a 48 hour auction on Sunday is a bit better.  I speculate that business is a bit slow on a weekend.

Some propose splitting the shares (or the passthrough splitting the share) - in theory, it helps the liquidity; in practice, I've reservations.  Just look at the bid-ask spread of Satoshi Dice, even though the stock price is "low" in absolute terms and there are gazillion shares out there.  As a percent of the stock price, it's usually pretty bad even though the share price is a lot lower.
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April 27, 2013, 07:39:52 PM
 #3820

The last auction is very successful, but I think starting a 48 hour auction on Sunday is a bit better.  I speculate that business is a bit slow on a weekend.

Some propose splitting the shares (or the passthrough splitting the share) - in theory, it helps the liquidity; in practice, I've reservations.  Just look at the bid-ask spread of Satoshi Dice, even though the stock price is "low" in absolute terms and there are gazillion shares out there.  As a percent of the stock price, it's usually pretty bad even though the share price is a lot lower.

Hmm, good point.  That might have been a mistake.

Hopefully people will check Bitcoin news on Sunday night.
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