ASICMINER: Entering the Future of ASIC Mining by Inventing It

[flame1012]

I totally agree about being honest with customers and investors.

[Blazed]

Asicminer should make their 4th generation before others and make 14 nm chips to beat the competition
A hard task but doable.

They could - but securing funding at this stage is almost impossible.  I talk to money pretty regularly, and money keeps saying - "No effing way."

I still find it so hard to believe they are short on cash.  
Either there was a massive amount of theft or embezzlement, or the most inept company on the planet.

If they just would have been honest with investors from the beginning, this thing would have gone down totally different.  They had a fanbase of customers and investors that would have made magical things happen.  They didn't have faith in their customers or investors - and starved everyone out.

Why would anyone want to invest that cash into AM though? They are much better off just buying the chip design and not being stuck with all the negatives. Also it sounds like AM is just a nickname for FriedCat since they can not do anything without him...let a lone sell the IP. Unless FriedCat ends his vacation early nothing is going to happen at all.

[flame1012]

I wish they get it somehow right, for the sake of their investors at least.

[Fordee]

Why cant they setup a new farm with remaining chips and use it to refund themselves?

Seriously, the 28nm chip is nice, but they have a proven design and plans for the 45nm and chips in stock..   They should get as many devices running as possible while they can.. If BTC hasn't dramatically risen by the halving the 28nm isnt worth running let alone making.   If it does skyrockaet the  AM can use BTC Earned currently, skip the 28nm and go to 20 directly.  The future is to uncertain for any company right now to create a new mask..   using current resources might be the best choice..

[primeminer]

Why cant they setup a new farm with remaining chips and use it to refund themselves?

Seriously, the 28nm chip is nice, but they have a proven design and plans for the 45nm and chips in stock..   They should get as many devices running as possible while they can.. If BTC hasn't dramatically risen by the halving the 28nm isnt worth running let alone making.   If it does skyrockaet the  AM can use BTC Earned currently, skip the 28nm and go to 20 directly.  The future is to uncertain for any company right now to create a new mask..   using current resources might be the best choice..

I'm sorry, but this is nonsense

[Mikestang]

Asicminer can still revive and come back.
They just need to be wise.

If by wise you mean with a totally new name and new staff and no ties to AM then I would say... maybe.

But to revive as they sit today?  No way, not gonna happen.  Anyone stupid enough to support that endeavor deserves to lose everything they pour into it.

[Fordee]

Why cant they setup a new farm with remaining chips and use it to refund themselves?

Seriously, the 28nm chip is nice, but they have a proven design and plans for the 45nm and chips in stock..   They should get as many devices running as possible while they can.. If BTC hasn't dramatically risen by the halving the 28nm isnt worth running let alone making.   If it does skyrockaet the  AM can use BTC Earned currently, skip the 28nm and go to 20 directly.  The future is to uncertain for any company right now to create a new mask..   using current resources might be the best choice..

I'm sorry, but this is nonsense

Uh huh.. Rather than call 'nonsense' try critical thinking:
 
Asicminer needs to either close up shop now, or use their resources.. they've apparently chosen the latter.  Whether divs will ever again  be paid to the holdrrs isnt what I asked.

They have enough BE200 chips left of the 60PH or a few thousand devices.  They should put them to use and save the company...the chips are still competitive for a manufacturer to use...  either that or give them away and close the doors.   

Calling exit scam on Friedcat doesnt make sense...  neither does letting the 45nm maskmsit gathering dust. ...and Ponzi on AM shareholders isnt possible either....   You cant just get an account at TMSC by knocking on the door...you have to pass scrutiny and have a real world presence.

Yes AMHash is fucked, but AM as a company could still be worth a few $ to someone who wants to enter the bitcoin space in china or elsewhere... They really dont have that many liabilities on the books. And a competitive chip Design ready to roll.

[RoadStress]

Uh huh.. Rather than call 'nonsense' try critical thinking:
 
Asicminer needs to either close up shop now, or use their resources.. they've apparently chosen the latter.  Whether divs will ever again  be paid to the holdrrs isnt what I asked.

They have enough BE200 chips left of the 60PH or a few thousand devices.  They should put them to use and save the company...the chips are still competitive for a manufacturer to use...  either that or give them away and close the doors.   

Calling exit scam on Friedcat doesnt make sense...  neither does letting the 45nm maskmsit gathering dust. ...and Ponzi on AM shareholders isnt possible either....   You cant just get an account at TMSC by knocking on the door...you have to pass scrutiny and have a real world presence.

Yes AMHash is fucked, but AM as a company could still be worth a few $ to someone who wants to enter the bitcoin space in china or elsewhere... They really dont have that many liabilities on the books. And a competitive chip Design ready to roll.

I suggest you to try to think before you speak/write anything. Are you aware of the costs needed to deploy miners from chip to full working units? Are you aware of the current profitability considering the market conditions? Are you aware of the costs and the work needed to setup a DC to have the miners running? Are you aware of how much money AM currently has? Or how much did they have before FC vanished?

[Fordee]

I suggest you to try to think before you speak/write anything.

Ok.

Are you aware of the costs needed to deploy miners from chip to full working units?

Yes. - Current industry.

Are you aware of the current profitability considering the market conditions?

Yes. - I started mining with FPGAs... Do you know what that acronym even means?  See above.

Market conditions?   Oh, you mean Bitfury, SP, Bitmain... (Quality competitors)  Or hashrate/difficulty?  (Currently at 329,448,950 GH/s & Diff Approx 46,717,549,600).

Or How cheap can I steal my electricity?  

You got me there, I can't... But I doubt other legitimate mines do either.. and they remain competitive.

Are you aware of the costs and the work needed to setup a DC to have the miners running?

Yes..    Cooling and electricity aside, i'm all running short on chicken farms and skyrise condos, though I do have a few Cisco's kicking around here somewhere.

Are you aware of how much money AM currently has? Or how much did they have before FC vanished?

No, and Neither do you.   I'm sure you read the same financials that everyone has.

So please.. Contribute positively, or Shut the FUCK up... ( "Go eat a bag of dicks", or whatever it is you kids say these days.)  

[s1gs3gv]

Getting a bit tense around here now ?

[Fordee]

Getting a bit tense around here now ?

Nah, It's all good      / Pet peeve.    Never good at joining pity parties

[flame1012]

AsicMiner can clean up their name, and start from scratch like a new founded company.
Anything is possible if you got some dedication.
Why not?

[RoadStress]

Are you aware of the costs needed to deploy miners from chip to full working units?

Yes. - Current industry.

What about some numbers? How much do you think it would cost AM to deploy 10Ph/s considering that they have only the chips. My estimates are at ~3M$. Show me yours.

Are you aware of the current profitability considering the market conditions?

Yes. - I started mining with FPGAs... Do you know what that acronym even means?  See above.

Market conditions?   Oh, you mean Bitfury, SP, Bitmain... (Quality competitors)  Or hashrate/difficulty?  (Currently at 329,448,950 GH/s & Diff Approx 46,717,549,600).

Or How cheap can I steal my electricity?  

You got me there, I can't... But I doubt other legitimate mines do either.. and they remain competitive.

I was referring at the hashrate/difficulty conditions.

The other legitimate mines get a cheaper power price than AM can get plus the fact that since they already have their mines deployed it means that they already covered part or all of their investment while AM would be far behind if they deploy now.

Are you aware of how much money AM currently has? Or how much did they have before FC vanished?

No, and Neither do you.   I'm sure you read the same financials that everyone has.

So please.. Contribute positively, or Shut the FUCK up... ( "Go eat a bag of dicks", or whatever it is you kids say these days.)  

Let me rephrase my question. Do you think that AM has the money to deploy more than 1PH/s of miners? How much do you estimate that they can deploy right now?

From the lack of dividends and the lack of the Q4 financial report and what Jutarul said in the past days AND considering that they didn't afford to pay for their offices I think that AM has less than 500k$ liquidity.

I have shown on what I base my words. Now please show me on what are you basing your thinking that AM has money to deploy lots of miners for solo mining.

[Fordee]

 
  I fully agree that the liquidity is drying up..  but something basic is missing from this puzzle..   Unfortunately, even if AM comes back, i am sure that all shareholders of AM have lost out...  

  We may differ on the company's 'asset value' and what current liquidity is available...  

  Unfortunately true numbers won't ever be known, and if FC doesn't ever surface, then AM probably has lost a lot of resources they would otherwise have access to.

  From a triage standpoint, I still think there are other options than just shutting the doors...

  If you were at the helm of this ship, what do you think would be the best route today?


   -side note Roadstress:   After reading too many pages of 'SCAM SCAM SCAM PONZI SCAM PONZI SCAM SCAM'  perhaps I over reacted earlier with a few comments..
 
   (My apologies, it wasn't personal).

[RoadStress]

   -side note Roadstress:   After reading too many pages of 'SCAM SCAM SCAM PONZI SCAM PONZI SCAM SCAM'  perhaps I over reacted earlier with a few comments..
 
   (My apologies, it wasn't personal).

Well apologies accepted. But I never said scam or ponzi. I actually said that this is not a ponzi in reply to Icetard scammer. I got used with the constant bashing here so no worries.

Also I see that you, like some AM ex-shareholders, are still afraid to spell out some numbers because reality is a bitch.

If you were at the helm of this ship, what do you think would be the best route today?

If FC holds the wallets there is nothing much to do except to try to find some funding somehow, but I think that this is the worst tine in bitcoin mining to seek something like this.

I don't see any other solution right now. An exit would be to sell the design and to distribute the money to shareholders.

[gogxmagog]

Did he died?

[flame1012]

Did he died?

They claim that FC has gone missing.
It's what they say, we have no evidence to accept it as fact.
It might just be a story, or for real.
All we got for sure is a big question mark and a big whole in our pockets

[primeminer]

I think it is very reasonable to give them last 72 h for a clear communicate as of what their next steps will be. If no satisfactory or no info at all is released than go ahead with legal proceedings...

[flame1012]

I think it is very reasonable to give them last 72 h for a clear communicate as of what their next steps will be. If no satisfactory or no info at all is released than go ahead with legal proceedings...

I was expecting an announcement today.

[EternalWingsofGod]

I think it is very reasonable to give them last 72 h for a clear communicate as of what their next steps will be. If no satisfactory or no info at all is released than go ahead with legal proceedings...

I was expecting an announcement today.

Have not checked this mess for about a week
Anything interesting occur ?