ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Deprived]

@Jutarul... isnt this risk relatively low? I mean the sell of the public shares put a good bunch of money into bitfountain. And i dont have the numbers in mind, i only remember that only a small portion of that money was used till now. So Bitfountain has a good monetary cushion for future investions. Thats because i wonder if the risk is high that much of the mined money will be reinvested instead are paid out as dividend.

If bitfountain starts mining (not only testing) would this graph jump 1/3 higher than normal (more/less)? http://blockchain.info/charts/hash-rate

Wouldn't expect it to jump - more like gradually rise.  They won't build a ton of boards then put them all online at once.  Initially they'd get 1 going then add more as they were built and tested.  Can't imagine them getting into mass-production just yet - that'll come once all the wrinkes are ironed out in first batch.  WHich is, of course, a massive reason to do self-mining.  Selling first units to customers when they've no had any kind of soak-testing is asking for trouble - wonder what odds anyone would give on a high failure rate in the early batches of ASICs shipped by other companies.

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[Mausini]

I agree "some of the revenues" is not clear, but it looks to be far from "most of the revenues"...

some and most are fuzzy terms. And the required money to fund new hardware development or other strategic operations mainly determines the difference between some and most. If ASICMINER is very profitable, "some" may be enough. Just saying...

you dont get it. that doesnt change anything. if you assume they are taking strategic decisions in the best interest of shareholders and bitfountain (which i hope is true), better allocation of profit only results in higher long-term share value.

No. You don't get it. The decision of how much of the above 0.1BTC/share profit will be used to fund future investments is not yours. It's the privilege of the bitfountain leadership. And if it is used for future investments, you're AGAIN exposed to NRE risks, which potentially lowers the value of your share longterm. Thus if you think that unpaid dividends automatically increase the value of the share, you're mistaken. And your condition "better allocation of profit" is a strong assumption, because that is something you usually only know in hindsight.

Anyway - I just wanted to throw in a word of caution. Please go ahead and invest as you please.

ok, maybe we both dont get it the mechanics you describe are right, but you draw the wrong conclusion. my point was just that "better allocation", reinvestment of profit etc does not necessarily lead to a lower share value.

[DeaDTerra]

I might be interested in selling 4607 Shares,
Please Pm with you offers
//DeaDTerra

[eb3full]

Got my share confirmation email yesterday.

also might be interested in selling 5000 shares, pm me with your offers.

[SebastianJu]

@friedcat... could you maybe make a daily update? I mean it only needs to be a sentence. Maybe "First asic built and running.", "20% of all chips built into the asics plates." or "Prototype of mining software ready." Something like this. So that we know whats happening. Thanks!

[eb3full]

@friedcat... could you maybe make a daily update? I mean it only needs to be a sentence. Maybe "First asic built and running.", "20% of all chips built into the asics plates." or "Prototype of mining software ready." Something like this. So that we know whats happening. Thanks!

Seconded. This is the most interesting part.

[niko]

@friedcat... could you maybe make a daily update? I mean it only needs to be a sentence. Maybe "First asic built and running.", "20% of all chips built into the asics plates." or "Prototype of mining software ready." Something like this. So that we know whats happening. Thanks!

Seconded. This is the most interesting part.

It may be interesting, but it wouldn't be very productive.  There is nothing you can do about whatever information you would be getting (unless you are a board member).

[eb3full]

@friedcat... could you maybe make a daily update? I mean it only needs to be a sentence. Maybe "First asic built and running.", "20% of all chips built into the asics plates." or "Prototype of mining software ready." Something like this. So that we know whats happening. Thanks!

Seconded. This is the most interesting part.

It may be interesting, but it wouldn't be very productive.  There is nothing you can do about whatever information you would be getting (unless you are a board member).

I'm speaking strictly from a historical perspective.

[niko]

@friedcat... could you maybe make a daily update? I mean it only needs to be a sentence. Maybe "First asic built and running.", "20% of all chips built into the asics plates." or "Prototype of mining software ready." Something like this. So that we know whats happening. Thanks!

Seconded. This is the most interesting part.

It may be interesting, but it wouldn't be very productive.  There is nothing you can do about whatever information you would be getting (unless you are a board member).

I'm speaking strictly from a historical perspective.

That I agree with.

[SebastianJu]

@niko Its not that i want to interfere with bitfountains business. I only would like to know whats happening, what the team did the previous day and how the progress is going. Or the failures that happens. A sentence a day wouldnt take much time but the shareholders would know more.

[punin]

A bit worrying that two people with enough shares to be on the board want to sell their shares now.

[niko]

A bit worrying that two people with enough shares to be on the board want to sell their shares now.

My thoughts exactly, except I wasn't sure if they were on the board. Are you sure?

[DeaDTerra]

A bit worrying that two people with enough shares to be on the board want to sell their shares now.

My thoughts exactly, except I wasn't sure if they were on the board. Are you sure?

The reason is because the shares are owned by Gamma Bitcoin Fund which is closing so I am going to have to liquidate the shares,
so I want to check what the market price off them are and if it's worth selling now or if I should wait until the asics arrive
It has nothing to do with any "insider info" In fact I am very positive towards this project and I lean towards keeping the shares
And yes I am on the board.
//DeaDTerra

[eb3full]

A bit worrying that two people with enough shares to be on the board want to sell their shares now.

I don't want to sell my shares now but if people are stupid enough to pay 1BTC/share I'll take it.

[DutchBrat]

A bit worrying that two people with enough shares to be on the board want to sell their shares now.

I don't want to sell my shares now but if people are stupid enough to pay 1BTC/share I'll take it.

Nastmining pays 0.001482 BTC dividend per share (seat as they call it now) per week

Price of the seat is around 0.35 BTC

I know OgNasty has ordered ASICs, but an FPGA today will be the same more or less as an ASIC tomorrow (hasrate% wise) and to even things out currently only 6.500 shares are paid dividend whereas OgNasty holds 18.500 shares that don't get dividend, but as soon as the first ASIC is hashing away, future dividends will be paid on 25.000 shares....

Anyway currently people are paying 0.35 / 0.001482 = 236 weekly dividends for 1 share

All of a sudden 1, 2 even 3 BTC for an ASICMINER share does not seem so far fetched, but I can be mistaken....

I love to day-dream 

[001sonkit]

After the going down of GLBSE, do ASICMINER have any plan of where should we trade, manage etc the shares in the future, BTCT? Or elsewhere?

[samson]

After the going down of GLBSE, do ASICMINER have any plan of where should we trade, manage etc the shares in the future, BTCT? Or elsewhere?

If there is a plan it's being kept a secret and it's very slow in being rolled out.

[DutchBrat]

After the going down of GLBSE, do ASICMINER have any plan of where should we trade, manage etc the shares in the future, BTCT? Or elsewhere?

If there is a plan it's being kept a secret and it's very slow in being rolled out.

There will be a proprietary trading platform and the shares will start trading before the 1st dividend will be distributed, according to Friedcat. So no hard dates, but should all be resolved soon.

[intel-core-i7]

update: got confirmation email too..

[Dacm4n]

Well still waiting on my confirmation of shares email.