ASICMINER: Entering the Future of ASIC Mining by Inventing It

[nubbins]

I will not trust someone who behaves like a little kid - I deal in currencies, and I expect professional business attitude when dealing with it.

This. So many public figures in bitcoin simply do not have attitudes that match their responsibilities. Boorish "fund managers" and "CEOs" squabbling and tossing insults in public forums, oblivious to their loss of dignity, holding huge "buy me" signs while shouting obscenities at whoever is willing to offer an opinion.

A lot of this can be chalked up to a lack of exposure to the real, actual, grown-up business world, where people are civil to each other, and are able to do their job without freaking out or searching for arguments. If you walked into a bank to open an account, and the teller said "good thing you didn't go with those fucking morons across the street", you'd be shocked. You wouldn't trust them with your money. Here in bitcoin land, you can have a hardware manufacturer or an exchange owner call its customers fucking morons, and nobody even cares.

It's a truly amazing spectacle.

[ThickAsThieves]

If you walked into a bank to open an account, and the teller said "good thing you didn't go with those fucking morons across the street", you'd be shocked. You wouldn't trust them with your money. Here in bitcoin land, you can have a hardware manufacturer or an exchange owner call its customers fucking morons, and nobody even cares.

I know BFL has behaved in ways like that, but I don't recall any exchange operators that do. Ah, wait, MPOE-PR can be rather biting, true.

I do agree that sometimes exchange operators and issuers, including myself, can be too informal at times. Some of us are responsible for managing millions of dollars worth in portfolio equity, and you are justified in wanting those representatives to act maturely and responsibly. It's something I try to think about as often as I can, but admittedly I can be susceptible to good trolling and frustrated with some forum "superstars" at times. Know that I am making an effort, and I assume people like Burnside, Ukyo, and Lightbox are doing the same. Even, Deprived, the Grim Reaper of bitcoin finance, can show emotion and lose a little control at times.

I have been running my own successful business for most of my career now, and my responsibilities have included interfacing with clients, customer service, and sales, even though those are not the core services I provided as a business. As the business grew, I was able to focus more on what I was best at, and leave the other aspects to specialists. In that sense, I think part of what you are seeing in bitcoin is small business style management and behavior, in an industry that has been traditionally one of big businesses. You'd never see things like the programmer being the CEO, PR, and CS rep for a financial service in the "real world".

There is plenty "wrong" with how things work right now, but I do think it's improving before our eyes. More transparency, scrutiny, and raising of standards will come, no matter how much kicking and screaming it takes.

[nubbins]

I think part of what you are seeing in bitcoin is small business style management and behavior, in an industry that has been traditionally one of big businesses.

Precisely this; it's to be expected, given what bitcoin is and where it came from.

There is plenty "wrong" with how things work right now, but I do think it's improving before our eyes. More transparency, scrutiny, and raising of standards will come, no matter how much kicking and screaming it takes.

The amount of kicking and screaming is going to play a large part in determining just where this train is taking us. I invite you to contemplate a universe in which MPOE-PR's forum nickname is WorldBank-PR or IMF-PR.

[schnuber]

Can someone explain why there is so much fluctuation in the ASICMINER mining share?

The stock has been volatile for a while now. It's just that no one complains when it's going and up, up, up.

No, no. You did not understand me. I did not complain that the stock is going down. I was asking why the mining power of the ASICMINER pool fluctuates quite widely. Are they turning their Mining Rigs ON and OFF all the time?

[tinus42]

In that sense, I think part of what you are seeing in bitcoin is small business style management and behavior, in an industry that has been traditionally one of big businesses. You'd never see things like the programmer being the CEO, PR, and CS rep for a financial service in the "real world".

In the real world one needs to be licensed and regulated just to be able to participate in financial services. It's a matter of time before all Bitcoin financial companies will fall under the scope of the SEC, CFTC, FINCEN and other regulators / LE agencies.

[Lohoris]

The amount of kicking and screaming is going to play a large part in determining just where this train is taking us. I invite you to contemplate a universe in which MPOE-PR's forum nickname is WorldBank-PR or IMF-PR.

I... don't think so.

Most rude people and trolls behave this way because they are protected by the pseudonimity of the Internet: if their identity was matched to a real world entity, I doubt many of them would still behave this way.

[Lohoris]

It's a matter of time before all Bitcoin financial companies will fall under the scope of the SEC, CFTC, FINCEN and other regulators / LE agencies.

With the difference that the more they try to regulate it, the more resistance they will meet, with companies just ignoring those regulations.
If they are smart they'll try to regulate the bare minimum.

[ThickAsThieves]

Can someone explain why there is so much fluctuation in the ASICMINER mining share?

The stock has been volatile for a while now. It's just that no one complains when it's going and up, up, up.

No, no. You did not understand me. I did not complain that the stock is going down. I was asking why the mining power of the ASICMINER pool fluctuates quite widely. Are they turning their Mining Rigs ON and OFF all the time?

Oh! This caused either by variance (luck), or them testing/burning in new blades, or some kind of dynamic management of hashpower to try and stay at a certain % of nethash or total revenue from mining.

I have no idea if it's one or all of those things though.

[Strange Vlad]

No, no. You did not understand me. I did not complain that the stock is going down. I was asking why the mining power of the ASICMINER pool fluctuates quite widely. Are they turning their Mining Rigs ON and OFF all the time?

You should understand that we don't (yet) know about how much is the mining power of ASICMINER at any given moment. We can only estimate it from the generation times of the blocks. As the generation time is a pseudorandom number, it is statistically inevitable that the estimation is always inaccurate. They could have done anything with their rigs, or not done anything in spite what may seem looking at the estimation graph..

[empoweoqwj]

Can someone explain why there is so much fluctuation in the ASICMINER mining share?

The stock has been volatile for a while now. It's just that no one complains when it's going and up, up, up.

No, no. You did not understand me. I did not complain that the stock is going down. I was asking why the mining power of the ASICMINER pool fluctuates quite widely. Are they turning their Mining Rigs ON and OFF all the time?

friedcat has explained several times when the hashrate has changed significantly. I don't expect him to pop up every time a router goes down ...

Also, the numbers you see for hashrates are not *not real*. They are guestimates based on blocks found. How accurate the guestimates are .... needs a statistician to answer.

[VolanicEruptor]

Go back a week and average the hashrate up until now.

There you go..

[BlackLilac Jordan]

The amount of kicking and screaming is going to play a large part in determining just where this train is taking us. I invite you to contemplate a universe in which MPOE-PR's forum nickname is WorldBank-PR or IMF-PR.

I... don't think so.

Most rude people and trolls behave this way because they are protected by the pseudonimity of the Internet: if their identity was matched to a real world entity, I doubt many of them would still behave this way.

Totally right.

[organofcorti]

Does anyone here know of a relationship between ASICMiner and DiscusFish?

I see a clear correlation between their hashrates. While correlation != causation, is DiscusFish maybe renting a percent of ASICMiner's hashrate? Are investors being paid a little extra?

http://www.reddit.com/r/Bitcoin/comments/1i9ts8/is_asicminer_renting_hashes_to_discusfish_and_if/

[aahzmundus]

Does anyone here know of a relationship between ASICMiner and DiscusFish? I see a clear correlation between their hashrates. While correlation != causation, is DiscusFish maybe renting a percent of ASICMiner's hashrate? Are investors being paid a little extra?

Well, our hashrate numbers we have is an estimate right?  So if we are currently unlucky... and therefore our estimates drop, it stands to reason that someone else IS lucky.  Therefore when you are only comparing estimates, yes they should be weekly correlated in the way you suggest, right?

[organofcorti]

Does anyone here know of a relationship between ASICMiner and DiscusFish? I see a clear correlation between their hashrates. While correlation != causation, is DiscusFish maybe renting a percent of ASICMiner's hashrate? Are investors being paid a little extra?

Well, our hashrate numbers we have is an estimate right?  So if we are currently unlucky... and therefore our estimates drop, it stands to reason that someone else IS lucky.  Therefore when you are only comparing estimates, yes they should be weekly correlated in the way you suggest, right?

No - I know what you mean, but that's not the sort of correlation I'm referring to.

Pool hashrates tend to be uncorrelated. For example, none of the pools below have a history of correlated hashrates - except for the two yellow lines, ASICMiner solo and DiscusFish.

[yuchuanzhen]

Does anyone here know of a relationship between ASICMiner and DiscusFish?

I see a clear correlation between their hashrates. While correlation != causation, is DiscusFish maybe renting a percent of ASICMiner's hashrate? Are investors being paid a little extra?

http://www.reddit.com/r/Bitcoin/comments/1i9ts8/is_asicminer_renting_hashes_to_discusfish_and_if/

As I know,they are both chinese,so am i.
And ,that's all.

[organofcorti]

Does anyone here know of a relationship between ASICMiner and DiscusFish?

I see a clear correlation between their hashrates. While correlation != causation, is DiscusFish maybe renting a percent of ASICMiner's hashrate? Are investors being paid a little extra?

http://www.reddit.com/r/Bitcoin/comments/1i9ts8/is_asicminer_renting_hashes_to_discusfish_and_if/

As I know,they are both chinese,so am i.
And ,that's all.

So ASICMiner has not mentioned any working relationship with them?

[yuchuanzhen]

So ASICMiner has not mentioned any working relationship with them?

No.They don't.
Again,as i know.

[organofcorti]

So ASICMiner has not mentioned any working relationship with them?

No.They don't.
Again,as i know.

Ah well.Maybe it's a coincidence.

[runeks]

So what's the best place to buy ASICMINER put options?

BTC-TC only has TWO contracts available. And they both have huge premiums.

Is there something better anywhere?