ASICMINER: Entering the Future of ASIC Mining by Inventing It

[MPOE-PR]

However, the shareholders of ASICMINER are always in a better place

Props for the decency to present it as an equity deal from day one, rather than calling stock subscription "preorders" like everyone else.

[DiabloD3]

However, the shareholders of ASICMINER are always in a better place

Props for the decency to present it as an equity deal from day one, rather than calling stock subscription "preorders" like everyone else.

Yeah, this. It still pisses me off how BFL abused all of their investors by calling them customers and called their investments preorders. Between BFL and bASIC, a lot of bullshit has gone on that ASICMINER and Avalon and the entire Bitcoin community could have done without.

[DutchBrat]

Thanks for the update.

Few questions:
1. Can you say with more certainty how much TH this batch of chips (the full 12 wafers) will yield?
2. What is the status of the trading platform?
3. I am guessing the deployment will take place over a period of 2 weeks, bringing boards online as you get them, or will you get all of them back in 2 weeks or more?
4. Any ASIC miner picture you can share with us? (not the actual asic chip but a working miner)

Thanks!

[phantastisch]

Are you still confirming shares? I am still waiting.

[niko]

Friedcat, thank you for the update and for all the quality work.  I will repeat my question from few pages ago, as it is still unanswered. There are some conflicting statements and interpretations throughout this thread, so we need a definitive answer:

After investors have received their 0.1 btc per share, further profits will be distributed as (assuming X was the number of shares sold to the investors) -

(1) 1/400`000 per share, regardless of X, or

(2) 1/(200`000+X) per share, or

(3) 1/(2X) per share

 

Please clarify.

[SgtSpike]

However, the shareholders of ASICMINER are always in a better place

Props for the decency to present it as an equity deal from day one, rather than calling stock subscription "preorders" like everyone else.

I thought this was because the shareholders are actual shareholders in ASICMINER?  With BFL, the preorders are just that - preorders.

[irritant]

However, the shareholders of ASICMINER are always in a better place

Props for the decency to present it as an equity deal from day one, rather than calling stock subscription "preorders" like everyone else.

I thought this was because the shareholders are actual shareholders in Avalon?  With BFL, the preorders are just that - preorders.

typo? actual shareholders in ASICMINER (because this is the ASICMINER thread)

[SgtSpike]

However, the shareholders of ASICMINER are always in a better place

Props for the decency to present it as an equity deal from day one, rather than calling stock subscription "preorders" like everyone else.

I thought this was because the shareholders are actual shareholders in Avalon?  With BFL, the preorders are just that - preorders.

typo? actual shareholders in ASICMINER (because this is the ASICMINER thread)

Typo!  Whoops, will go correct my post.

[SebastianJu]

However, the shareholders of ASICMINER are always in a better place

Props for the decency to present it as an equity deal from day one, rather than calling stock subscription "preorders" like everyone else.

Yeah, this. It still pisses me off how BFL abused all of their investors by calling them customers and called their investments preorders. Between BFL and bASIC, a lot of bullshit has gone on that ASICMINER and Avalon and the entire Bitcoin community could have done without.

But it was pretty clear from the start that you invest as a shareholder in asicminer and that the chips from bfl has to be created first. That wasnt hidden. So everyone who bought there played the game and lost. That happens. But i dont think thats a reason to blame bfl. They are late but that was part of the things that can happen from the start.

[Naelr]

Are you still confirming shares? I am still waiting.

As am I .. I sent friedcat a PM but have nothing and that was months ago... figured I would just wait until it gets close.... well

it is close!!!!

Naelr

[Deprived]

Are you still confirming shares? I am still waiting.

As am I .. I sent friedcat a PM but have nothing and that was months ago... figured I would just wait until it gets close.... well

it is close!!!!

Naelr

He's still confirming them - only got my confirmation email of how many shares I have this week.

[friedcat]

Friedcat, thank you for the update and for all the quality work.  I will repeat my question from few pages ago, as it is still unanswered. There are some conflicting statements and interpretations throughout this thread, so we need a definitive answer:

After investors have received their 0.1 btc per share, further profits will be distributed as (assuming X was the number of shares sold to the investors) -

(1) 1/400`000 per share, regardless of X, or

(2) 1/(200`000+X) per share, or

(3) 1/(2X) per share

 

Please clarify.

Sorry for delaying. It's (1) regardless of X. Its downside of is that the portion is less than (2) and (3) somehow. While the upside is that it will not go diluted when later investments come in because it's always 1/400,000 no matter how Bitfountain itself gets diluted.

[niko]

Friedcat, thank you for the update and for all the quality work.  I will repeat my question from few pages ago, as it is still unanswered. There are some conflicting statements and interpretations throughout this thread, so we need a definitive answer:

After investors have received their 0.1 btc per share, further profits will be distributed as (assuming X was the number of shares sold to the investors) -

(1) 1/400`000 per share, regardless of X, or

(2) 1/(200`000+X) per share, or

(3) 1/(2X) per share

 

Please clarify.

Sorry for delaying. It's (1) regardless of X. Its downside of is that the portion is less than (2) and (3) somehow. While the upside is that it will not go diluted when later investments come in because it's always 1/400,000 no matter how Bitfountain itself gets diluted.

Thanks. This is what the contract states, but there were some confusing interpretations in the thread, so it needed clarification.

[midnightmagic]

I also have not had my shares confirmed yet.

[SebastianJu]

Dont worry guys. Friedcat didnt show any sign till now that something is fake with the project. So i dont believe that you will lose any money. I think he still is confirming but has more important things to do. So i think he should work on that. You wont have to fear to lose anything if your claims were right.

[novusordo]

Dont worry guys. Friedcat didnt show any sign till now that something is fake with the project. So i dont believe that you will lose any money. I think he still is confirming but has more important things to do. So i think he should work on that. You wont have to fear to lose anything if your claims were right.

Even if he doesn't get around to all the shares before the ASICs are up and running, he will know how much BTC to keep for the unconfirmed shares.

[midnightmagic]

Ah, there we go. I just received a reasonable-looking email confirming shares, and bitcoin address.

[samson]

Do we know if any blocks have been mined using ASIC devices yet, even if it's only a test on a prototype board ?

[matauc12]

However, the shareholders of ASICMINER are always in a better place

Props for the decency to present it as an equity deal from day one, rather than calling stock subscription "preorders" like everyone else.

Yeah, this. It still pisses me off how BFL abused all of their investors by calling them customers and called their investments preorders. Between BFL and bASIC, a lot of bullshit has gone on that ASICMINER and Avalon and the entire Bitcoin community could have done without.

But it was pretty clear from the start that you invest as a shareholder in asicminer and that the chips from bfl has to be created first. That wasnt hidden. So everyone who bought there played the game and lost. That happens. But i dont think thats a reason to blame bfl. They are late but that was part of the things that can happen from the start.

The thing is, in North America you are not allowed to accept payment for an item that is not ready to ship. You probably noticed that if you order something backordered they will refund the payment and recharge once they receive the item and ship (if payment was cleared at checkout, if not they will just charge later). Or when you preorder something (a PS3 game for example) you merely save your place in queue and they charge on the release date. BFL was not allowed to take the money before building the rigs. And they knew it too, because I initially ordered some and they were saying "no refunds", and I just emailed saying I want a refund because it is not legal and I would pursue ligitigation if they refused. Next day, full refund no questions asked. That people knew or not that the items were not ready does not make taking money first then manufacture legal. So yeah, they are to blame to use illegal practice to run their business.

[keystroke]

Dont worry guys. Friedcat didnt show any sign till now that something is fake with the project. So i dont believe that you will lose any money. I think he still is confirming but has more important things to do. So i think he should work on that. You wont have to fear to lose anything if your claims were right.

+1