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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3890014 times)
TheSwede75
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May 03, 2013, 12:55:37 AM
 #4201

My personal preference (for stock value and ASIC access + 'feelgood community stuff') would be that Asicminer sell say 500-1000 USB miners to the current share holders at slightly over cost AND set up a dedicated E-shop (website) and offer the public access to USB sticks at whatever price gauging profit squeezing level they can Smiley

Win/Win!
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lagmo
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May 03, 2013, 01:39:20 AM
 #4202

My personal preference (for stock value and ASIC access + 'feelgood community stuff') would be that Asicminer sell say 500-1000 USB miners to the current share holders at slightly over cost AND set up a dedicated E-shop (website) and offer the public access to USB sticks at whatever price gauging profit squeezing level they can Smiley

Win/Win!

AM must have an e-shop eventually, but it doesn't have to be a conventional fixed price one though, I'm sure it would be possible to setup an item like the Moneybee sticks to be automatically priced by demand.

Start the price @ ~2BTC each, decrement price by 0.01BTC every 'X' minute(s), increment price by 0.01BTC for every unit sold & paid. Keep it up till there are no more sticks left. Add min/max price and unit limits per customer as needed.

Forum auctions definitely have limited viability for higher volumes, as the most recent one makes quite obvious, so we'd better get creative  Wink
ineededausername
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May 03, 2013, 01:45:10 AM
 #4203

Hashrate going up again as friedcat wakes up Grin

(BFL)^2 < 0
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May 03, 2013, 02:23:07 AM
 #4204

Hashrate going up again as friedcat wakes up Grin
Wait, the hash rate goes up when friedcat is awake? Maybe the ASICs are all a lie, and friedcat is actually a Mentat doing all of the bitcoin mining in his head! Cheesy Grin

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May 03, 2013, 02:43:36 AM
 #4205

Friedcat has been 100% honest, and every thing he has said has worked so far

Hum, no. The 12 Th/s currently mining was supposed to be online 1-1.5 months ago. The deployment has definitely not worked as fast as fried said it would.
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May 03, 2013, 03:06:01 AM
 #4206

Damn, so many haters here. You, guys, have got to give credit for all the work friedcat has done so far (processing payments from the auctions, distributing dividends, deploying and shipping equipment) because it's due. He definatelly exceeded my expectations.

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May 03, 2013, 03:17:30 AM
 #4207

Friedcat has been 100% honest, and every thing he has said has worked so far

Hum, no. The 12 Th/s currently mining was supposed to be online 1-1.5 months ago. The deployment has definitely not worked as fast as fried said it would.
Despite how much we wish, friedcat is no oracle. He ran into issues deploying: power, etc.. All of these issues he dealt with promptly, and in a manor as to prevent future issues of the same sort. He said the plans were to get 12 TH/s at that time, it's not a lie if it is delayed... He still has been 100% honest. It's not as if he said he was ready to ship products when all he had were cases with fans so far.

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May 03, 2013, 04:00:13 AM
 #4208

Update

Let us explain the cost more elaborately first: some of them are used as a reserve (not paid yet) for ICs of later batches of Block Erupter Blades (namely the clock/data buffer ICs for the main board and the buck controller ICs for the power module) and Block Erupter USB sticks (MCUs and USB controller ICs). Some of them should be paid soon for the immediate demands for ICs of the Block Erupter USB stick.

For financial transparency, there are three aspects:

Unauditable: Have we been doing stealth mining with some extra hashing power unknown by the public? We haven't. But this is practically not monitorable therefore this forms a minimum trusting base.

Auditable frequently: How much Bitcoins are earned from mining and public auctions, given that we have no secret extra income sources? These are all shown as public records on blockchain and forums. This is the advantage of using Bitcoins and being a Bitcoin-based company.

Auditable infrequently: How much have we spent and are they spent properly? How much have we gain via non-public big selling contracts? Most companies do this on a quarterly or yearly basis. We could and will also do this. As said before, the financial reports can be almost fully generated from our Bitcoins and fiat transactions as well as contracts to the manufacturers and the fab. We exceeded the expected time of making the second elaborate one but it will certainly be done when my partners and I are more or less freed from daily work of maintenance and keeping ASICMINER expanding with the growing number of join-in employees.

Quote from: furuknap
I would love to know

1. What are the two-three month perspective on hashrate, earnings, and profitability
2. What are the funding requirements to reach those goals and how will that funding take place?
3. What is the current financial situation of the company (ie assets, liabilities, running costs, currency denominations, and so on)
4. What is the policy on managing capital (ie is it exchanged every week, do they set aside capital for unforeseen expenses, etc)
1. 62+200=262TH/s. Earnings and profitability highly depends on the competitors and how the price range the purchasers will accept after two to three months. And please bear in mind that they are perspectives, only bonds could usually give a fixed range of profit predictions.
2. The final margin cost for 1TH/s is less than 10k$, the actual number depends on the volatile price of PCB components. Installing and power bill are currently low. We will be self-funded.
3. We are virtually free of any liabilities at this moment. The rest, as said above, will be generated from our Bitcoins and fiat transactions as well as contracts.
4. They are all set aside as reserves for the future. We do not get the Bitcoins sold only one day before the merchants knock our door asking for payments.

And for the Block Erupter USB sticks. Please stay tuned for later news.

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May 03, 2013, 04:17:49 AM
 #4209

Update

Let us explain the cost more elaborately first: some of them are used as a reserve (not paid yet) for ICs of later batches of Block Erupter Blades (namely the clock/data buffer ICs for the main board and the buck controller ICs for the power module) and Block Erupter USB sticks (MCUs and USB controller ICs). Some of them should be paid soon for the immediate demands for ICs of the Block Erupter USB stick.

For financial transparency, there are three aspects:

Unauditable: Have we been doing stealth mining with some extra hashing power unknown by the public? We haven't. But this is practically not monitorable therefore this forms a minimum trusting base.

Auditable frequently: How much Bitcoins are earned from mining and public auctions, given that we have no secret extra income sources? These are all shown as public records on blockchain and forums. This is the advantage of using Bitcoins and being a Bitcoin-based company.

Auditable infrequently: How much have we spent and are they spent properly? How much have we gain via non-public big selling contracts? Most companies do this on a quarterly or yearly basis. We could and will also do this. As said before, the financial reports can be almost fully generated from our Bitcoins and fiat transactions as well as contracts to the manufacturers and the fab. We exceeded the expected time of making the second elaborate one but it will certainly be done when my partners and I are more or less freed from daily work of maintenance and keeping ASICMINER expanding with the growing number of join-in employees.

Quote from: furuknap
I would love to know

1. What are the two-three month perspective on hashrate, earnings, and profitability
2. What are the funding requirements to reach those goals and how will that funding take place?
3. What is the current financial situation of the company (ie assets, liabilities, running costs, currency denominations, and so on)
4. What is the policy on managing capital (ie is it exchanged every week, do they set aside capital for unforeseen expenses, etc)
1. 62+200=262TH/s. Earnings and profitability highly depends on the competitors and how the price range the purchasers will accept after two to three months. And please bear in mind that they are perspectives, only bonds could usually give a fixed range of profit predictions.
2. The final margin cost for 1TH/s is less than 10k$, the actual number depends on the volatile price of PCB components. Installing and power bill are currently low. We will be self-funded.
3. We are virtually free of any liabilities at this moment. The rest, as said above, will be generated from our Bitcoins and fiat transactions as well as contracts.
4. They are all set aside as reserves for the future. We do not get the Bitcoins sold only one day before the merchants knock our door asking for payments.

And for the Block Erupter USB sticks. Please stay tuned for later news.

Thanks for the update! Love your work Smiley

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May 03, 2013, 04:26:23 AM
 #4210

Thanks for the in-depth update, get some well deserved sleep when you can.

Woot, 262 TH/s coming this summer!!
John (John K.)
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May 03, 2013, 04:29:18 AM
 #4211

<3 friedcat. Thank you for the awesome update - an analysis on this can be found here : https://bitcointalk.org/index.php?topic=99497.msg1767379#msg1767379

*buys moar shares*

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Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

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May 03, 2013, 04:29:28 AM
 #4212

Thanks for the in-depth update, get some well deserved sleep when you can.

Woot, 262 TH/s coming this summer!!

And the PT on Bitfunder dropped from 1.3 --> 1.2 Smiley Perfect time to buy in!

Making Apps and Websites for people. I charge reasonable rates ($30-40/hour in BTC).
ineededausername
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May 03, 2013, 04:34:13 AM
 #4213

Thanks for the in-depth update, get some well deserved sleep when you can.

Woot, 262 TH/s coming this summer!!

And the PT on Bitfunder dropped from 1.3 --> 1.2 Smiley Perfect time to buy in!

Bitfunder is really screwy sometimes... it seems like the price is eternally .1 less than btct.

(BFL)^2 < 0
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May 03, 2013, 04:50:32 AM
 #4214

Thanks for the in-depth update, get some well deserved sleep when you can.

Woot, 262 TH/s coming this summer!!

And the PT on Bitfunder dropped from 1.3 --> 1.2 Smiley Perfect time to buy in!

Bitfunder is really screwy sometimes... it seems like the price is eternally .1 less than btct.

shshshushsh.... what are you thinking writing this in public! trying to get the price to where it SHOULD be before we buy moar?

Will take me a while to climb up again, But where is a will, there is a way...
burnside
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May 03, 2013, 05:02:07 AM
 #4215

Thanks for the in-depth update, get some well deserved sleep when you can.

Woot, 262 TH/s coming this summer!!

And the PT on Bitfunder dropped from 1.3 --> 1.2 Smiley Perfect time to buy in!

Bitfunder is really screwy sometimes... it seems like the price is eternally .1 less than btct.

GBF still has thousands of shares to sell: https://bitcointalk.org/index.php?topic=74975.msg1865890#msg1865890
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May 03, 2013, 05:13:47 AM
 #4216

Brag post Grin


  • Found out about Bitcoin about 4 weeks ago.
  • Bought some shortly after the crash.
  • Found out about BFL. Ordered one.
  • Did some *actual research* on Bitcoin. Bought more.
  • Did some *actual research* on BFL. Started to worry a bit.
  • Ordered some Avalon ASICs as a bit of insurance, which I plan to have made up into cards for personal mining.
  • Did more research on mining. Found out about ASICminer shares.
  • Canceled the BFL order. Used proceeds to buy ASICminer shares.
  • Feeling rather pleased with myself.

Busy month! Cool

.BITSONG.
████
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.▬▬▬▬TELEGRAM▬▬▬▬.
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John (John K.)
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May 03, 2013, 05:18:16 AM
 #4217

Brag post Grin


  • Found out about Bitcoin about 4 weeks ago.
  • Bought some shortly after the crash.
  • Found out about BFL. Ordered one.
  • Did some *actual research* on Bitcoin. Bought more.
  • Did some *actual research* on BFL. Started to worry a bit.
  • Ordered some Avalon ASICs as a bit of insurance, which I plan to have made up into cards for personal mining.
  • Did more research on mining. Found out about ASICminer shares.
  • Canceled the BFL order. Used proceeds to buy ASICminer shares.
  • Feeling rather pleased with myself.

Busy month! Cool

Personal disclosure: I only hold AM shares currently.  Tongue

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
Escrow service is available on a case by case basis! (PM Me to verify I'm the escrow!)

JimiQ84
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May 03, 2013, 05:38:57 AM
 #4218

Update
...

Auditable frequently: How much Bitcoins are earned from mining and public auctions, given that we have no secret extra income sources? These are all shown as public records on blockchain and forums. This is the advantage of using Bitcoins and being a Bitcoin-based company.

...

http://blockchain.info/address/1HtUGfbDcMzTeHWx2Dbgnhc6kYnj1Hp24i
lophie
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May 03, 2013, 06:12:42 AM
 #4219

Brag post Grin

  • Found out about Bitcoin a couple of Years ago.
  • Bought some shortly after the first big crash.
  • Found out about ASICMINER since IPO.
  • Done some *actual research* on Bitcoin. Bought more.
  • Feeling extremely pleased with myself.

Busy couple of years! Cool

Don't brag. I did all the above and I am still a very small man in front of the real early adopters. Wait a few years and brag to JoeSixCoiners when they complain about earning mere few tens of mBTC a month or so.

Smiley


Will take me a while to climb up again, But where is a will, there is a way...
stripykitteh
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May 03, 2013, 06:23:01 AM
 #4220

Brag post Grin

  • Found out about Bitcoin a couple of Years ago.
  • Bought some shortly after the first big crash.
  • Found out about ASICMINER since IPO.
  • Done some *actual research* on Bitcoin. Bought more.
  • Feeling extremely pleased with myself.

Busy couple of years! Cool

Don't brag. I did all the above and I am still a very small man in front of the real early adopters. Wait a few years and brag to JoeSixCoiners when they complain about earning mere few tens of mBTC a month or so.

Smiley



Don't worry, I know exactly how small I am... Cheesy

.BITSONG.
████
████
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