baloo_kiev
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July 07, 2013, 01:05:27 PM |
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btw, people "dumping" in the last few weeks are in general not "people that need the money", they are scared "investors", thinking the price is falling to the floor and their dream of "getting rich quick" is in ruins.
Personally, and being really harsh, these are chumpsters and the bitcoin economy is better off without them.
They will be back at next price rise to blow another bubble.
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Ira H. Fuchs
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July 07, 2013, 01:07:50 PM |
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Total network rate is hitting 200 TH/s for the first time. Time for a friedcat announcement to bolster sentiment ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) I think friedcat has only made one real update in this thread since I started to invest. Seems like years ago but actually only June 24th. Did he used to post more often than this? It used to be more frequent, as time has gone on, they have become far less common. As Friedcat become a billionaire, he need more time to managing his business empire ... good morning, I'm afraid to say they played a joke on you. There is no real computer chip company here to speak of...Ira
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bitfair
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 07, 2013, 01:09:01 PM |
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So, how much it cost to mine 1 BTC if you are the ASIC chip/equipment manufacturer like AM is?
By my calculations, USD 0.507 in electricity costs per btc mined. The assumptions: Power efficiency: 8.3 J/GH (ref: https://bitcointalk.org/index.php?topic=204030.0) Electricity cost: USD 0.06 per kWh (was mentioned by someone earlier in this thread, cannot find official confirmation) Current hashes to win: 91635939047418116 (ref: http://blockexplorer.com/q/hashestowin) Current Bitcoin reward per block: 25 ( http://blockexplorer.com/q/bcperblock) So it will remain profitable (i.e. value of mined BTC exceeds electricity costs) until network hash rate is more than 100x today's hash rate at current prices.
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Ira H. Fuchs
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July 07, 2013, 01:25:08 PM |
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if AM keeps dumping those BTC at that rate, we will see $50 and then probably $25 sooner or later.
Please link me to your source. I really would like to see this information and I am going to assume for now you did not just pull it out of your ass. Thank you. good morning, Are you involved with this shop. I'm concerned people are not getting the full perspective. Who is in charge of sales of these open source devices...Ira
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circuitry
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July 07, 2013, 01:30:24 PM |
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Of course, now is the time to sell if you want to get money out now.
It could be argued that the best time to sell is the day of the dividend, right? (Unless you're factoring a sharp crash of BTCUSD before that and more scared AM "investors" trying to cash out.)
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velacreations
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 07, 2013, 01:35:22 PM |
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btw, people "dumping" in the last few weeks are in general not "people that need the money", they are scared "investors", thinking the price is falling to the floor and their dream of "getting rich quick" is in ruins.
Personally, and being really harsh, these are chumpsters and the bitcoin economy is better off without them.
actually a significant amount of the AM sell off was an obvious price manipulation.
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EskimoBob
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July 07, 2013, 01:54:14 PM |
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if AM keeps dumping those BTC at that rate, we will see $50 and then probably $25 sooner or later.
Please link me to your source. I really would like to see this information and I am going to assume for now you did not just pull it out of your ass. Thank you. You are correct, my wording was a bit off, so let me rephrase that: .. if people with ASIC miners keep dumping those BTC at that rate, we will see $50 and then probably $25 sooner or later. You really think they hold on to the coin they mine? Why? It's money for nothing. Fiat in the bank ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) while BTC has lost close to 30% in a week. So, how much it cost to mine 1 BTC if you are the ASIC chip/equipment manufacturer like AM is?
By my calculations, USD 0.507 in electricity costs per btc mined. The assumptions: Power efficiency: 8.3 J/GH (ref: https://bitcointalk.org/index.php?topic=204030.0) Electricity cost: USD 0.06 per kWh (was mentioned by someone earlier in this thread, cannot find official confirmation) Current hashes to win: 91635939047418116 (ref: http://blockexplorer.com/q/hashestowin) Current Bitcoin reward per block: 25 ( http://blockexplorer.com/q/bcperblock) So it will remain profitable (i.e. value of mined BTC exceeds electricity costs) until network hash rate is more than 100x today's hash rate at current prices. fuck...
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While reading what I wrote, use the most friendliest and relaxing voice in your head. BTW, Things in BTC bubble universes are getting ugly....
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velacreations
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 07, 2013, 01:55:53 PM |
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You really think they hold on to the coin they mine? Why? It's money for nothing. Fiat in the bank ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) while BTC has lost close to 30% in a week. No,t he vast majority of it they give to us, the shareholders.
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bitfair
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 07, 2013, 01:56:56 PM |
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You really think they hold on to the coin they mine? Why? It's money for nothing. Fiat in the bank ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) while BTC has lost close to 30% in a week. No,t he vast majority of it they give to us, the shareholders. Correction: the vast majority goes to the majority shareholders: Bitfountain.
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empoweoqwj
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 07, 2013, 02:10:43 PM |
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if AM keeps dumping those BTC at that rate, we will see $50 and then probably $25 sooner or later.
Please link me to your source. I really would like to see this information and I am going to assume for now you did not just pull it out of your ass. Thank you. You are correct, my wording was a bit off, so let me rephrase that: .. if people with ASIC miners keep dumping those BTC at that rate, we will see $50 and then probably $25 sooner or later. You really think they hold on to the coin they mine? Why? It's money for nothing. Fiat in the bank ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) while BTC has lost close to 30% in a week. So, how much it cost to mine 1 BTC if you are the ASIC chip/equipment manufacturer like AM is?
By my calculations, USD 0.507 in electricity costs per btc mined. The assumptions: Power efficiency: 8.3 J/GH (ref: https://bitcointalk.org/index.php?topic=204030.0) Electricity cost: USD 0.06 per kWh (was mentioned by someone earlier in this thread, cannot find official confirmation) Current hashes to win: 91635939047418116 (ref: http://blockexplorer.com/q/hashestowin) Current Bitcoin reward per block: 25 ( http://blockexplorer.com/q/bcperblock) So it will remain profitable (i.e. value of mined BTC exceeds electricity costs) until network hash rate is more than 100x today's hash rate at current prices. fuck... Let's assume they are intelligent, and they know the bitcoin market better than others. When would they sell? When the price was $150 or when the price was $60? Money for nothing? Don't be ridiculous. They are mining something of value. They want to maximise their returns, not sell out near the bottom of the market. Put simply: they are professionals, not panicky amateurs of which there are so many in the bitcoin market.
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EskimoBob
Legendary
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July 07, 2013, 02:32:12 PM |
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... Let's assume they are intelligent, and they know the bitcoin market better than others. When would they sell? When the price was $150 or when the price was $60?
Money for nothing? Don't be ridiculous. They are mining something of value. They want to maximise their returns, not sell out near the bottom of the market.
Put simply: they are professionals, not panicky amateurs of which there are so many in the bitcoin market.
Who? AM team? They are probably really good programmers and engineers but that is where it ends. I have no wish to be right that AM is dumping BTC or that those few lucky, who got the ASIC hardware, are doing it. I actually hope we can do +40% run and end up back at 100 area. When fear and greed are only forces, that set BTC price (there are no fundamental reasons) anything can happen. Now, lets get back to AM. I hope that friedcat can finally find a accountant competent enough to produce some financial reports, so we can find out, how AM is actually doing. For fuck sake guys, this is beyond pathetic. A multimillion Co can not find a accountant? In China!? Honestly, this is absurd and those guys better be embarrassed. PS! Cheers and keep up the good work...
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While reading what I wrote, use the most friendliest and relaxing voice in your head. BTW, Things in BTC bubble universes are getting ugly....
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Lohoris
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 07, 2013, 02:40:51 PM |
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Now, lets get back to AM. I hope that friedcat can finally find a accountant competent enough to produce some financial reports, so we can find out, how AM is actually doing. For fuck sake guys, this is beyond pathetic. A multimillion Co can not find a accountant? In China!? Honestly, this is absurd and those guys better be embarrassed.
While I would be happy too if they produced financial reports, honestly you repeating every other day is getting quite tiresome. Also, I don't know why you pretend to believe that they "weren't able" to find an accountant, while it is quite obvious that it's a deliberate choice. Don't hold your breath, remember Huawei.
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EskimoBob
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July 07, 2013, 03:47:15 PM |
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Now, lets get back to AM. I hope that friedcat can finally find a accountant competent enough to produce some financial reports, so we can find out, how AM is actually doing. For fuck sake guys, this is beyond pathetic. A multimillion Co can not find a accountant? In China!? Honestly, this is absurd and those guys better be embarrassed.
While I would be happy too if they produced financial reports, honestly you repeating every other day is getting quite tiresome. Also, I don't know why you pretend to believe that they "weren't able" to find an accountant, while it is quite obvious that it's a deliberate choice. Don't hold your breath, remember Huawei. Good to know it makes you feel uncomfortable. Only guy who can help you is friedcat and his accountant. You can just pretend or pretend to believe what ever you want but the fact is - none of us have seen any reports from AM. I understand why none of you really care for proper reporting. First, most of you can not read the reports and for second, living in a world of fantasy is way more fun. For f**k sake, there is even a special naval gazing, spit balling and circle jerking thread for this: ASICMINER Speculation Thread. LOL ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Friedcat, as a shareholder I am not happy about you hiding the numbers from the shareholders. Frankly, I do not give a flying fuck what you guys are used to or not over there in China. I like to see the numbers every month... as simple as that.Friedcat, if this is something you can not manage, please let me know. Cheers!
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While reading what I wrote, use the most friendliest and relaxing voice in your head. BTW, Things in BTC bubble universes are getting ugly....
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Exocyst
Sr. Member
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Science!
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July 07, 2013, 03:59:32 PM |
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I do not give a flying fuck what you guys are used to or not over there in China. Cheers!
A strange mix of decorum and a complete lack thereof.
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JimiQ84
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 07, 2013, 04:13:33 PM |
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Now, lets get back to AM. I hope that friedcat can finally find a accountant competent enough to produce some financial reports, so we can find out, how AM is actually doing. For fuck sake guys, this is beyond pathetic. A multimillion Co can not find a accountant? In China!? Honestly, this is absurd and those guys better be embarrassed.
While I would be happy too if they produced financial reports, honestly you repeating every other day is getting quite tiresome. Also, I don't know why you pretend to believe that they "weren't able" to find an accountant, while it is quite obvious that it's a deliberate choice. Don't hold your breath, remember Huawei. Good to know it makes you feel uncomfortable. Only guy who can help you is friedcat and his accountant. You can just pretend or pretend to believe what ever you want but the fact is - none of us have seen any reports from AM. I understand why none of you really care for proper reporting. First, most of you can not read the reports and for second, living in a world of fantasy is way more fun. For f**k sake, there is even a special naval gazing, spit balling and circle jerking thread for this: ASICMINER Speculation Thread. LOL ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Friedcat, as a shareholder I am not happy about you hiding the numbers from the shareholders. Frankly, I do not give a flying fuck what you guys are used to or not over there in China. I like to see the numbers every month... as simple as that.Friedcat, if this is something you can not manage, please let me know. Cheers! If you doesn't like lack of reports than just sell your shares and GTFO, thanks :-)
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Lohoris
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 07, 2013, 04:21:14 PM |
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Good to know it makes you feel uncomfortable. Only guy who can help you is friedcat and his accountant. You can just pretend or pretend to believe what ever you want but the fact is - none of us have seen any reports from AM.
I understand why none of you really care for proper reporting. [...]
Friedcat, as a shareholder I am not happy about you hiding the numbers from the shareholders. [...]
Again, I do care, but complaining won't help, and I really can't stand this useless complaints going on and on. It is a fact that they could produce reports but chose not to. Take this fact into consideration when you decide how much those shares are valuable to you. It's as simple as that. Stop whining.
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SOSLOVE868
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 07, 2013, 04:25:17 PM |
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Now, lets get back to AM. I hope that friedcat can finally find a accountant competent enough to produce some financial reports, so we can find out, how AM is actually doing. For fuck sake guys, this is beyond pathetic. A multimillion Co can not find a accountant? In China!? Honestly, this is absurd and those guys better be embarrassed.
While I would be happy too if they produced financial reports, honestly you repeating every other day is getting quite tiresome. Also, I don't know why you pretend to believe that they "weren't able" to find an accountant, while it is quite obvious that it's a deliberate choice. Don't hold your breath, remember Huawei. Good to know it makes you feel uncomfortable. Only guy who can help you is friedcat and his accountant. You can just pretend or pretend to believe what ever you want but the fact is - none of us have seen any reports from AM. I understand why none of you really care for proper reporting. First, most of you can not read the reports and for second, living in a world of fantasy is way more fun. For f**k sake, there is even a special naval gazing, spit balling and circle jerking thread for this: ASICMINER Speculation Thread. LOL ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Friedcat, as a shareholder I am not happy about you hiding the numbers from the shareholders. Frankly, I do not give a flying fuck what you guys are used to or not over there in China. I like to see the numbers every month... as simple as that.Friedcat, if this is something you can not manage, please let me know. Cheers! If you doesn't like lack of reports than just sell your shares and GTFO, thanks :-) +1 Sold your shares and go away . No body really care a report or not,if they can produce one report it is great, if they can't so what is the problem? Remember lot of real wolrd scandals indicate accounting report can become full of no sense and false ,andif someone is liar,than he can managing a lieying report.
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Lohoris
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 07, 2013, 04:28:24 PM |
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+1 Sold your shares and go away . This is right. No body really care a report or not,if they can produce one report it is great, if they can't so what is the problem? Remember lot of scandal indicate accounting report can't full of no sense.if someone is liar,than he can managing a lieying report.
This is very wrong. Reports are very useful, and if they are forged there is still a chance you can notice that. Of course there is also the risk of paranoids misreading the reports and crying outrage when they instead were genuine. Likely they keep at least some spreadsheet, so it would only be matter of cleaning it a little and showing it. If they don't, it's because they have something to hide, and this is bad. If they don't have any accounting at all, run for your lives. That sait, whining here won't help so I agree with the "sell and STFU" sentiment.
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EskimoBob
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July 07, 2013, 05:29:16 PM |
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For some idiotic reason some of you think that I am trying to hurt you so you get all defensive. Why? Because I ask for a simple financial report? Seriously guys... perpetual amateur hour? Funny thing is, I am not asking those guys to stand on their fkn ears. How do they run a Co id they have no idea wtf is going on with the finances? Lot's of cool ideas/Co's have blown and gone under ONLY because they did not bother counting the coin. Positive bank balance is not necessarily a profit! Happens every day in the real world. You know what, fuck it. Lets have another 400 pages of brain farts and absurd speculations. It's your coin riding on this too. At least most of you are happy ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Ignorance is a bliss, after all.
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While reading what I wrote, use the most friendliest and relaxing voice in your head. BTW, Things in BTC bubble universes are getting ugly....
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