ASICMINER: Entering the Future of ASIC Mining by Inventing It

[primeminer]

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

not much few funny pics, few more physical threats, handful of moans, and yet empty investors' pockets

[EternalWingsofGod]

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

not much few funny pics, few more physical threats, handful of moans, and yet empty investors' pockets

Thanks for the summary
So pretty much more of the same

[gogxmagog]

so as i understand they have a taped out chip ready to roll. FC is MIA and took all funds with him, but who holds the taped out chip? This has to have some value, no? of course, time is of the essence... how long do we sit around with thumbs up arses before trying to salvage what we can with this chip design? oh, right, we wait until the design is obsolete and worthless. ok. got it.

i dunno what happened to FC, but the rest of AM sure aren't doing much as far as i can see. shouldn't they be able to take action with the company without him? i cant believe he did everything there... besides designing chips and raising funds, doesn't seem like anything much really went on there anyways...great fuckin company.

and what about FC the man? if i knew someone who went missing like that, i would be all over his personality, is he shifty? manic-depressive? who does he know or talk to that might be nefarious? everyone has dark areas to their personality, no one is a saint. drugs? probably not FC... gambling? maybe, i don't know the guy. mabey hes prone to strange outbursts, takes stupid risks?

my point is, no one speaks anything to the peculiarities of his individual character. a cop would ask this stuff. is he missing because he ran, or is he missing because he ran afoul? if this is some exit scheme, its a really intriguing one. i mean, if its anything besides a giant glaring embezzlement, who would even guess it to happen?

maybe the whole bitfountain is in on it? all those 1000btc transfers...piecing off the rest of the gang, they all take their cut and go "gee, i dunno where he went? crazy, oh well, whaddaya gonna do? geez."

ill just bring up this little chestnut right here again, the second slide down, from the "salon" last summer. FC explains how they are going to throw in the towel and take all the shareholders btc using a fine working model from the recent past




never did get any sort of proper explanation about that slide, nor anything that was discussed at this salon. only the most cursory of bullet points. you don't do a day long thing and have 30 words of infos to relay.

unless theres plenty info you dont want people to hear.

[HarmonLi]

so as i understand they have a taped out chip ready to roll. FC is MIA and took all funds with him, but who holds the taped out chip? This has to have some value, no? of course, time is of the essence... how long do we sit around with thumbs up arses before trying to salvage what we can with this chip design? oh, right, we wait until the design is obsolete and worthless. ok. got it.

To put it simple: There's no money/funding. You need $10m to make some profit off of the chip, not even talking about dividends here. A large investor supposedly caved in December or something and FC only communicated this to the board in January. Then he disappeared. Risk/Reward ratio for using BTC funds at current BTC prices is too low (oh and FC has control over most funds, so there's that, yeah...)

[irritant]

so as i understand they have a taped out chip ready to roll. FC is MIA and took all funds with him, but who holds the taped out chip? This has to have some value, no? of course, time is of the essence... how long do we sit around with thumbs up arses before trying to salvage what we can with this chip design? oh, right, we wait until the design is obsolete and worthless. ok. got it.

To put it simple: There's no money/funding. You need $10m to make some profit off of the chip, not even talking about dividends here. A large investor supposedly caved in December or something and FC only communicated this to the board in January. Then he disappeared. Risk/Reward ratio for using BTC funds at current BTC prices is too low (oh and FC has control over most funds, so there's that, yeah...)

didnt bitfury buy datatank in that period, maybe they also bought FC?

[gogxmagog]

i was also thinking he might have been poached by another company. shit. isn't taking all the btc with him embezzlement? like shouldn't that btc be distributed to shareholders? i mean if this were the "real" world not unregulated anonymous internet land.

also, the taped out chip...this is IP and must have some value. or did he abscond with that too?

if he has gone "across the street" hes bound to surface soon enough. small world this asic manufacturing scene.

its all reminding me of tom sawyer, when they think he died and are all grieving, until he shows up alive and they want to kill him.

 i wonder how long the board and the rest of am knew about this? (if true)

or maybe hes out in the field spending those 1000s of btc getting chips made at some obscure Chinese plant

they do knock off electronics in china, maybe hes getting them to knock off some AM chips real cheap?

i don't know if that's even possible...

fuckin grilled cat
id like to braise his tail!

[VeeMiner]

AM really seems to be a one trick pony. First chips were a golden mine for all early investors, since the dividends stopped flowing, the company has gone to hell. Now there seems to be nothing left

[Bonam]

Now? There's been nothing left for over a year. Just smoke and mirrors.

[mc_lovin]

Now? There's been nothing left for over a year. Just smoke and mirrors.

Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

[gogxmagog]

Now? There's been nothing left for over a year. Just smoke and mirrors.

Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

that's the only thing that gives me any (very faint) hope. FC is no idiot. To just run away is idiotic. of course, I can just imagine him and the rest of bitfountain drinking beers and reading these threads, laughing at us, knowing full well there is nothing we can do about any of this.

[AirWolf]

Now? There's been nothing left for over a year. Just smoke and mirrors.

Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

that's the only thing that gives me any (very faint) hope. FC is no idiot. To just run away is idiotic. of course, I can just imagine him and the rest of bitfountain drinking beers and reading these threads, laughing at us, knowing full well there is nothing we can do about any of this.

Maybe you cannot anything about them but i can and i will if they don't come up with a solution soon.

[lucasjkr]

Now? There's been nothing left for over a year. Just smoke and mirrors.

Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

that's the only thing that gives me any (very faint) hope. FC is no idiot. To just run away is idiotic. of course, I can just imagine him and the rest of bitfountain drinking beers and reading these threads, laughing at us, knowing full well there is nothing we can do about any of this.

How is running away idiotic, exactly?

He's got a fortune. He's got the know how to create a new asic.

All he really loses is the goodwill of his fried cat name, which was valuable but not millions of dollars valuable.

[TheIZS]

Now? There's been nothing left for over a year. Just smoke and mirrors.

Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

that's the only thing that gives me any (very faint) hope. FC is no idiot. To just run away is idiotic. of course, I can just imagine him and the rest of bitfountain drinking beers and reading these threads, laughing at us, knowing full well there is nothing we can do about any of this.

Maybe you cannot anything about them but i can and i will if they don't come up with a solution soon.

What exactly are you waiting for? I have been reading your threats of legal action for awhile. If you really are in a position to take action, DO IT. Your repetitive empty threats make me think you're just trying to make yourself feel better. If I was in a position to do something, I would already be moving forward. So either way Airwolf Shut the hell up and/or do something already. I'm tired of all your bluster. We got fucked it sucks.

[OgNasty]

Cool site.  Email sent to the owner. 

[wpgdeez]

I wonder if WTCR.CA has any communication with FC or his gang of crooks anymore. WTCR was a major distributor for them in 2013\2014. I know that the owner Joe used to be in constant communication with them.

[elasticband]

Dear AMHash Contract Holders,

ASICMINER has prepared a contract offering on HaveLock with the ticker symbol AMHashLC. AMHashLC is a contract to offer final settlement for current holders of contracts AMHash. AMHash is a bitcoin mining contract, which is currently not performing due to unforeseen events. AMHash is a complex product which was provided through the collaboration of 4 different parties ( Operator(confidential), ASICMINER, ROCKMINER, Havelock). Each party provided certain guarantees and made certain representations. The continuation of the AMHash contract is currently uncertain due to structural problems in some of the participating companies. Furthermore, it is not clear how the resulting liability should map to the contractual framework and would need to be discovered through formal proceedings.

With AMHashLC, AMHash contract holders will now have an option to accept a default on their contract and transfer any rights for claimed damages arising out of the non-performance of AMHash to the issuer of AMHashLC. The issuer of AMHashLC is ASICMINER. Please note that this offer is not an assumption of liability. It is a proactive offering to allow people to discharge of their AMHash contracts. Please study the specific details for the AMHashLC offering before you make a decision.

HOW TO SWAP YOUR AMHASH UNITS TO AMHASHLC UNITS:

Log into your Havelock Account and click on the xfr button to issue the units back to the issuer. By sending AMHash units back to the issuer your account will receive an equivalent amount of AMHashLC units in return. There is a potential time delay due to this process having to be performed manually.


For AMHash contract holders who have no account with HL: Please contact ROCKMINER for further instructions on how to migrate the contracts to Havelock. We expect ROCKMINER to make a corresponding announcement which contains the necessary details on migration procedures.

Yours truly,
ASICMINER management

AMHashLC offering:
==================

AMHashLC is a liquidated amount contract in exchange for damages and liabilities arising out of contracts AMHash. It can only be obtained by contract holders of AMHash via a swap of AMHash for AMHashLC contracts at a 1:1 ratio. AMHashLC is not tradable otherwise.

Carefully read the terms and conditions before executing the swap.

Introduction
============

AMHashLC is a contract to offer final settlement for current holders of contracts AMHash. AMHash is a bitcoin mining contract, which is currently not performing due to unforeseen events. AMHash is a complex product which was provided through the collaboration of 4 different parties ( Operator(confidential), ASICMINER, ROCKMINER, Havelock). Each party provided certain guarantees and made certain representations. The continuation of the AMHash contract is currently uncertain due to structural problems in some of the participating companies. Furthermore, it is not clear how the resulting liability should map to the contractual framework and would need to be discovered through formal proceedings.

With AMHashLC, AMHash contract holders will now have an option to accept a default on their contract and transfer any rights for claimed damages arising out of the non-performance of AMHash to the issuer of AMHashLC.

The issuer of AMHashLC is ASICMINER.

AMHashLC terms
==============

1) DEFINITION: Each AMHashLC unit represents a total of 0.0003 BTC (0.3 mBTC) payable to the holder of the contract.
2) ACQUISITION AND IRREVERSIBILITY: AMHashLC can be obtained by holders of AMHash contracts only. Each unit of AMHash can be exchanged for one unit of AMHashLC. The exchange is irreversible.
3) COMPLETE AND FINAL TRANSFER: By executing the swap of AMHash for AMHashLC, the owner transfers all prior, existing and future rights and privileges arising out of holding the AMHash contract to the issuer of AMHashLC.
4) NO RECOURSE: By executing the swap of AMHash for AMHashLC, the owner relinquishes the right for any direct or indirect claims arising out of holding the AMHash contract against any party involved in the creation, performance or sale of the contract AMHash.
4) NOT TRANSFERABLE: AMHashLC shall not be traded.
5) GUARANTEED FUNDING: Sufficient funding for all AMHashLC contracts is provided prior to the offering and is secured in BTC address 1FU3uhBR4bKTavbeiJXdHHs13W5bRjM7DA.
6) SCHEDULE: The swap will be offered until April/20/2015. After April/20/2015 the swap offering will be closed and no further swaps will be possible. The total payment to units of AMHashLC will be split into 5 equal installments paid on a weekly schedule. The first payment will be provided after April/20/2015 and prior to April/24/2015 and the combined total will be paid out before May/29/2015.
7) FURTHER OFFERINGS: We reserve the right to do additional rounds of AMHashLC offerings with the same conditions after May/29/2015, should it be deemed necessary.

Q&A
===

Q) Why should you choose to swap your AMHash for an AMHashLC contract?
A) Piece of mind and closure. You're exchanging an uncertain and difficult to enforce contract for a fully funded and scheduled payment plan.

Q) Do I have to perform the swap?
A) No - you do not have to. You have 3 choices: a) Wait for the parties to fix the product and start performing on it again b) Look into litigation or alternative enforcement options c) accept the swap

Q) Is this a scam?
A) No. It's a non-performing contract due to unforeseen events. The issuer of AMHashLC will look into the legal enforcement options against what they consider the responsible parties. By offering AMHashLC as a swap, the issuer of AMHashLC will hold the corresponding contract rights.

Q) I am not satisfied with the amount I get back on the contract.
A) The amount is chosen from practical considerations. The issuing party is currently heavily undercapitalized, the contractual situation and enforcement is difficult and the prospect for recovery of damages is limited if not to say nil. Your lawyer will likely confirm that the offer is in fact attractive.

Q) Who failed and who was responsible for AMHash?
A) The answer to that question is not easy. An important key person is missing and cannot make any statement. The only thing which is clear by now is that basic risk coverage was not considered, which makes all liabilities arising out of any of the contracts effectively unsecured claims.

[hdbuck]

Each AMHashLC unit represents a total of 0.0003 BTC (0.3 mBTC) payable to the holder of the contract.  


The issuing party is currently heavily undercapitalized, the contractual situation and enforcement is difficult and the prospect for recovery of damages is limited if not to say nil. Your lawyer will likely confirm that the offer is in fact attractive.

[EternalWingsofGod]

Now? There's been nothing left for over a year. Just smoke and mirrors.

Still a million dollar marketcap somehow.  I guess based on the chance that FC emerges?  Or that no one can get their shares from FC to sell them

What a mess.  I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it.  Running and hiding is childish, if that was his plan.

I'm a bit suprised there was still a working URL keeping track of the market capital
It's still quite the farcry from the days it was a 100 million dollar company but I guess the mighty have kept falling and getting weaker over time.

[jimmothy]

Am I missing something or does that seem like a pretty decent offer given the current situation?

Divs to date are ~0.0007 btc/share + 0.0003 btc/share = 0.001 btc/share.

So the total loss for IPO investors went from ~45% to ~20%.

[elasticband]

Am I missing something or does that seem like a pretty decent offer given the current situation?

Divs to date are ~0.0007 btc/share + 0.0003 btc/share = 0.001 btc/share.

So the total loss for IPO investors went from ~45% to ~20%.

For Amhash3 holders, not so, they got paid 0.42 per TH do date if my math and dates are correct