ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Silverspoon]

I'm sure friedcat will come back...



  ~Happy Investing!

Meh, that's not even Lamby-grade image material! Where are the Chinese-style posters of some cat being tortured or something?

When you deserve better, you'll get better.  Fail harder next time, impress me!
AM/AMH scam is tired old news, be thankful you get anything

[Kipsy89]

Don't wish to be negative but is late to ask those questions, due diligence needs to be done prior investment not after, no one can claim his own clumsiness.

Regards

Juan

Yeah I guess he's criticising exactly those aspects. Man, it's sad... But it's wrong to call AM a scam from the start - they brought the investors a 600% ROI! It's just a shame they let greed get hold of the best of them!

I agree they were legit during gen 1. I think once competition hit the scene they just couldn't compete. After multiple failures they said screw it and bailed. It is a shame how they left it though...a simple we are done would have been acceptable.

Why put the effort into making a gen3 chip with sample chips?

Why create a cloudhashing fund?

Why offer prisma refunds to everyone who wanted them? (still not refunded and probably never will)

Why design a prisma 2.0 and ship them from China?

Gen2 was decent, not amazing.  BTCGarden and Rockminer made some decent miners with those chips.

I think they were maybe hoping for an even better gen 4 chip. Maybe they didn't get enough fundings (orders) from customers to actually make the chip. Maybe personal problems of FC. Could have all developed in December just when the orders should have been placed with TSMC...

[Blazed]

Don't wish to be negative but is late to ask those questions, due diligence needs to be done prior investment not after, no one can claim his own clumsiness.

Regards

Juan

Yeah I guess he's criticising exactly those aspects. Man, it's sad... But it's wrong to call AM a scam from the start - they brought the investors a 600% ROI! It's just a shame they let greed get hold of the best of them!

I agree they were legit during gen 1. I think once competition hit the scene they just couldn't compete. After multiple failures they said screw it and bailed. It is a shame how they left it though...a simple we are done would have been acceptable.

Why put the effort into making a gen3 chip with sample chips?

Why create a cloudhashing fund?

Why offer prisma refunds to everyone who wanted them? (still not refunded and probably never will)

Why design a prisma 2.0 and ship them from China?

Gen2 was decent, not amazing.  BTCGarden and Rockminer made some decent miners with those chips.

Gen 2 was a complete failure so I assume you mean gen 3? My guess is the samples were not as good as reported so they gave up on it. I think with the Prisma mess they were still trying to do the right thing and hoped gen 4 was solid. It is all speculation since it is not like AM would tell us or anything.

[Chris_Sabian]

Don't wish to be negative but is late to ask those questions, due diligence needs to be done prior investment not after, no one can claim his own clumsiness.

Regards

Juan

Yeah I guess he's criticising exactly those aspects. Man, it's sad... But it's wrong to call AM a scam from the start - they brought the investors a 600% ROI! It's just a shame they let greed get hold of the best of them!

I agree they were legit during gen 1. I think once competition hit the scene they just couldn't compete. After multiple failures they said screw it and bailed. It is a shame how they left it though...a simple we are done would have been acceptable.

Why put the effort into making a gen3 chip with sample chips?

Why create a cloudhashing fund?

Why offer prisma refunds to everyone who wanted them? (still not refunded and probably never will)

Why design a prisma 2.0 and ship them from China?

Gen2 was decent, not amazing.  BTCGarden and Rockminer made some decent miners with those chips.

Gen 2 was a complete failure so I assume you mean gen 3? My guess is the samples were not as good as reported so they gave up on it. I think with the Prisma mess they were still trying to do the right thing and hoped gen 4 was solid. It is all speculation since it is not like AM would tell us or anything.

I guess I should have said BE200 instead of gen2.  Gen2, fall of 2013, was a failure.

I was a prisma owner and I took up the option to get a replacement prisma 2.0.  There was some damage once it arrived via CrazyGuy.  Not sure when the damage happened as CrazyGuy took shipment from AM and then forwarded the box to me.  I tried the prisma anyway and after about 2 weeks, the prisma 2.0 caught fire.  Lucky I was home at the time and caught it.

CrazyGuy was helpful with the whole thing.  CrazyGuy said that all prisma replacements would come from him but refunds will come from AM.  I guess the whole prisma thing is now moot.

[sidehack]

I was really hoping the BE300 chips would be manufactured and available to third parties. My guess is the Prisma debacle hurt their bottom line quite a bit, what with offering replacement machines and full refunds on them even a couple months after. They probably lost a lot of coin on that deal.

I wonder what they're going to decide to do with the BE300 IP if the company goes under. They probably have a lot of dev costs to recoup from that, and if it's ready to send to a foundry someone else could buy it and have some pretty sweet chips in hand. Their top-end efficiency is right at Bitmain's bottom-end efficiency, they're at worst comparable to Bitfurys reported stock and would make some really nice flexible gear pretty easily.

[Silverspoon]

Fun fact:

AM100 .......................................................................   Market Cap    ฿4.1723 (~$1387.31);
MS (where the issuer hasn't been heard from for ~1 year):  Market Cap   ฿43.5142

Not too shabby, MintSpare, not too shabby...

[AirWolf]

Stay away from this thieves (Havelock) a lot of people lost a lot of money in their scams

https://bitcointalk.org/index.php?topic=989850.0
https://bitcointalk.org/index.php?topic=986763.0

[freedomno1]

Fun fact:

AM100 .......................................................................   Market Cap    ฿4.1723 (~$1387.31);
MS (where the issuer hasn't been heard from for ~1 year):  Market Cap   ฿43.5142

Not too shabby, MintSpare, not too shabby...

Mintspare is a weird asset
It really is dead in the water apparently hav said that they had 100 BTC for it
But never updated on it lol..

Still an interesting comparison though
Although there is a nice arbitrage sale there considering
AM 100 is at 0.005 equiv while AM 1 is holding at 0.01
If I were one of the buy walls at 0.01 would just buy the 1/100s lol.

[Silverspoon]

...
Although there is a nice arbitrage sale there considering
...

Yeah, if it was possible to convert 100 shares of AM100 into a single share of AM1.  It's not; never was, AFAIK.  The AM1/AM100 disparity just makes it obvious that the price of these tokens has nothing to do with the value of the asset they supposedly represent.

*Price ฿0.00001310 now, so ~x8 cheaper.

[Cthulhu]

...
Although there is a nice arbitrage sale there considering
...

Yeah, if it was possible to convert 100 shares of AM100 into a single share of AM1.  It's not; never was, AFAIK.  The AM1/AM100 disparity just makes it obvious that the price of these tokens has nothing to do with the value of the asset they supposedly represent.

*Price ฿0.00001310 now, so ~x8 cheaper.

How to Convert Your AM100 (or TAT.ASICMINER) Shares to Direct Shares with Friedcat
 1. Using the Transfer feature, push the AM100 (or TAT.ASICMINER) shares to the issuer account. They must be a 105:1 ratio, this means the minimum is 105 AM100 or TAT.ASICMINER shares.

[Silverspoon]

...
Although there is a nice arbitrage sale there considering
...

Yeah, if it was possible to convert 100 shares of AM100 into a single share of AM1.  It's not; never was, AFAIK.  The AM1/AM100 disparity just makes it obvious that the price of these tokens has nothing to do with the value of the asset they supposedly represent.

*Price ฿0.00001310 now, so ~x8 cheaper.

How to Convert Your AM100 (or TAT.ASICMINER) Shares to Direct Shares with Friedcat
 1. Using the Transfer feature, push the AM100 (or TAT.ASICMINER) shares to the issuer account. They must be a 105:1 ratio, this means the minimum is 105 AM100 or TAT.ASICMINER shares.

Ah, I'm 100% dead wrong & stand corrected.  Is this still a thing now?
*Haven't heard much from TaT since he brought us that other totally legit offering, NeoBee...

[freedomno1]

...
Although there is a nice arbitrage sale there considering
...

Yeah, if it was possible to convert 100 shares of AM100 into a single share of AM1.  It's not; never was, AFAIK.  The AM1/AM100 disparity just makes it obvious that the price of these tokens has nothing to do with the value of the asset they supposedly represent.

*Price ฿0.00001310 now, so ~x8 cheaper.

Was looking at the buy wall if we look at the Sell wall then the margins are huge between the assets at present
1/2 seemed like a more logical point then 1/8th differences for now
(Or the AM1 walls give up some ground)

Anyways guess someone did that math its back at around 0.006 so arbitrage is more normalized lol.

[Silverspoon]

^I'm generous to a fault tho.  Can't leave you in the lurch.

[Jutarul]

A quick update re:AMHash

There is a good chance that contract holders will get a significant portion of their principal back. The details are currently being worked out. Please understand that there is currently a lot of blame shifting going on, but AM management shows an active interest in breaking the gridlock in order to be able to concentrate on getting the business back on track.

Right now I'd like to provide the following clues
a) You will not get 100% on the principal amount. While this may hurt AMHash buyers, please note that AM is certainly not making a profit from this failed product in any way.
b) If you consider litigation or are in talks with a lawyer, you may want to wait this one out. Chances are that after taking into account the cost of litigation or lawyer fees you end up with less %. Also the contractual situation is very complex - you may end up suing the wrong company.
c) You may have to prove your contract. Please make sure that you got proper documentation ready. However, if you hold a contract through one of the platforms, there may be a consolidated method which doesn't require proof.
d) If AM recovers from this crisis, there may be more coming down the pipeline for affected people in form of discounts.

I'd like to remind everyone that I am not a company representative, which means I cannot warrant for the correctness of the information provided. Unfortunately the company cannot announce anything until the details have been worked out. Act accordingly.

Also, if you'd be so nice and cross post this to inform AMHash holders - I don't have a map for where AMHash was marketed.

[freedomno1]

A quick update re:AMHash

Also, if you'd be so nice and cross post this to inform AMHash holders - I don't have a map for where AMHash was marketed.

Good for the AMHash holders
Getting something back at least, should have done a Rockminer retrospectively but the shares are locked trade halt yesterday so everyone in the shareholder list in havelock is there for settlement, no speculation left.

Duplicated it in a few places
Fanpage updated
AMHash official thread
And put it in two of the many legal threads to be precise one in a L3sny thread the other an Airwolf lol.

[Silverspoon]

.@Jutarul: so TL;DR: Please do nothing while we figure out how to bilk you a bit more.

[elasticband]

please note that AM is certainly not making a profit from this failed product in any way.

Well someone is.

[Jutarul]

please note that AM is certainly not making a profit from this failed product in any way.

Well someone is.

The only person who could make a clear statement on that would be FC who conveniently vanished into thin air. On that note I will disclose that there has been a board meeting on the 17-JAN-2015 and 25-JAN-2015 and on neither dates FC mentioned that there may be a problem with the mining farm running AMHash. He was even discussing the strategic consideration surrounding a TO of the BE300, for which he failed to find financing. He was asked to compile a joint venture proposal to move the project further. That never happened.

It's very frustrating to see how the people who worked closest with FC seemingly have the least amount of information on his whereabouts. That alone reminds me of the dog who didn't bark.

.@Jutarul: so TL;DR: Please do nothing while we figure out how to bilk you a bit more.

I know how you feel. Been there.

[teek]

The only person who could make a clear statement on that would be FC who conveniently vanished into thin air. On that note I will disclose that there has been a board meeting on the 17-JAN-2015 and 25-JAN-2015 and on neither dates FC mentioned that there may be a problem with the mining farm running AMHash. He was even discussing the strategic consideration surrounding a TO of the BE300, for which he failed to find financing. He was asked to compile a joint venture proposal to move the project further. That never happened.

"TO of the BE300"  ??  What does this mean?

[Mabsark]

Why weren't shareholders informed that AM couldn't finance BE300?

"TO of the BE300"  ??  What does this mean?

Tape out.