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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 2739228 times)
ThickAsThieves
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May 02, 2013, 11:43:02 PM
 #4221

What about a set price and the ability for all shareholders to buy one, just one, so those of us without hundreds of BTC can actually get and hold an actual piece of AM?  And after say a week and all shareholders have had the ability to buy one at say cost, or just over cost the auction goes hog wild.  I have all my BTC invested... I don't wanna sell my shares of anything just to buy one but I really want one.. as a shareholder shouldn't we be able to  have a small slice of the pie.  I am not asking for a handout, Those usb things are just a genius idea and I would love to have one!

Naelr

What you ask for is very biased to your own position. It is too impractical to implement. Also, does Google give special preference to their shareholders for new products? Remember, AM does not owe shareholders special treatment, just their fair share of the company and its distributed profits.
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May 02, 2013, 11:51:58 PM
 #4222

Asking for them to be sold in lots to better benefit the white collars is about as biased as you can get too. I was interested in 3-4 of these myself. But if it were sold

in ridiculous high priced lots i will just as soon be happy with not even have heard of them. I figured it would be nice to replace a gpu or two with these low power

devices, but forget me catering to reselling white collars. I believe in capitalism like everyone else, but not capitalism that cuts out the little man.

Selling in lots benefits no one but a select few. If your gonna put a product out there on a public post then let it be equal opportunity to everyone. That is just good

business sense.

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May 03, 2013, 12:02:32 AM
 #4223

Asking for them to be sold in lots to better benefit the white collars is about as biased as you can get too. I was interested in 3-4 of these myself. But if it were sold

in ridiculous high priced lots i will just as soon be happy with not even have heard of them. I figured it would be nice to replace a gpu or two with these low power

devices, but forget me catering to reselling white collars. I believe in capitalism like everyone else, but not capitalism that cuts out the little man.

Selling in lots benefits no one but a select few. If your gonna put a product out there on a public post then let it be equal opportunity to everyone. That is just good

business sense.

Agreed... I couldn't have said it any better... except I don't care if they sell them in lots.. just give the little guy a chance to own one.  They don't owe it to the shareholders... but they should want the shareholders to be able to get one!  Friedcat has shown his good business sense up to this point... I trust he will do the right thing for AM, I am just putting my 2 cents in there as a shareholder. 

Naelr

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TheSwede75
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May 03, 2013, 12:50:40 AM
 #4224


By selling them off at a flat rate you will have a much larger user base, which is good for the BTC economy.

just my 2 cents



I'd rather see him auction large lots of the usb miners - effectively wholesaling them to distributors. It would be beneficial in creating larger economies, keep the wholesale price competitive, and would enable people to retail them through whatever mechanism they felt best served retail buyers.

Edit: I'm thinking of large lots at the 100's of units level. 128 would be good as it would parallel 4 of the block erupter blades for chipcount while still enabling some level of wholesale volume.

That is the dumbest idea so far. Why would you want to start a 'price gauging' war between re-sellers when it's proven right here they don't need re-sellers. Only thing that would happen is that ASICMINER's margin would be lower and sale prices would be higher.
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May 03, 2013, 12:52:35 AM
 #4225

What about a set price and the ability for all shareholders to buy one, just one, so those of us without hundreds of BTC can actually get and hold an actual piece of AM?  And after say a week and all shareholders have had the ability to buy one at say cost, or just over cost the auction goes hog wild.  I have all my BTC invested... I don't wanna sell my shares of anything just to buy one but I really want one.. as a shareholder shouldn't we be able to  have a small slice of the pie.  I am not asking for a handout, Those usb things are just a genius idea and I would love to have one!

Naelr

What you ask for is very biased to your own position. It is too impractical to implement. Also, does Google give special preference to their shareholders for new products? Remember, AM does not owe shareholders special treatment, just their fair share of the company and its distributed profits.

Personally I think the 'google' comparison here is just stupid. ASICMINER is not a giant company with a slick product line. They are very much dependent on the community and the share holders and I don't think a 'shareholder pre-sale' is a bad thing at all.
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May 03, 2013, 12:55:37 AM
 #4226

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!
lagmo
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May 03, 2013, 01:39:20 AM
 #4227

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
 #4228

Hashrate going up again as friedcat wakes up Grin

(BFL)^2 < 0
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May 03, 2013, 02:23:07 AM
 #4229

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
 #4230

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
 #4231

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
 #4232

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
 #4233

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
 #4234

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
 #4235

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

Woot, 262 TH/s coming this summer!!
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May 03, 2013, 04:29:18 AM
 #4236

<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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May 03, 2013, 04:29:28 AM
 #4237

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).
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May 03, 2013, 04:34:13 AM
 #4238

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
 #4239

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?

burnside
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May 03, 2013, 05:02:07 AM
 #4240

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

I'm not a Coinbase fan -- I placed a buy order, they took the funds out of my account, then a week later the price went up and they canceled the buy and closed my account.  You've been warned.  Use a different exchange.
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