ASICMINER: Entering the Future of ASIC Mining by Inventing It

[davecoin]

10 TH/s jump in 2 days 

[1713416339]

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[VeeMiner]

10 TH/s jump in 2 days 

there is almost 3 Thash/s miner at Ozcoin, I'm thinking it's ASICMINER

[SmiGueL]

10 TH/s jump in 2 days  

there is almost 3 Thash/s miner at Ozcoin, I'm thinking it's ASICMINER

'That' Anonymous miner was @ ~5.4 TH/s a few days ago..
(And 3 TH/s the last week(s))
Friedcat told us last week that that ISN'T ASICMINER.

[gigantic]

When the exchange will be ready, or is it already and i didnt notice?
I want to trade some of my shares, anyone know how can i do that?


Thanks.

[BlackLilac Jordan]

When the exchange will be ready, or is it already and i didnt notice?
I want to trade some of my shares, anyone know how can i do that?


Thanks.

Right now you can only sell them OTC. No word on the trading platform, other than the fact that it isn't a top priority. Depending on your price, I may buy them from you.

[SebastianJu]

When the exchange will be ready, or is it already and i didnt notice?
I want to trade some of my shares, anyone know how can i do that?

If you want to trade now you can use this thread: https://bitcointalk.org/index.php?topic=148282.new;topicseen#new

[ThickAsThieves]

You can also use the passthru at bitfunder.com, or btct.co

[SebastianJu]

You can also use the passthru at bitfunder.com, or btct.co

But he wants to sell his shares. So that wouldnt be a possibility. And it looks like the passthroughs, that arent real asicminer shares, are even more expensive now than the real shares. At least the last trades suggest this.

[peterepeat]

You can also use the passthru at bitfunder.com, or btct.co

But he wants to sell his shares. So that wouldnt be a possibility. And it looks like the passthroughs, that arent real asicminer shares, are even more expensive now than the real shares. At least the last trades suggest this.

You can sell your shares via either of the passthru funds, or both.

The steps needed to be taken are clearly laid out in the two relevant threads.

Once you have the shares transferred into the passthru, you then sell the passthru asset for BTC. 

[SebastianJu]

You can also use the passthru at bitfunder.com, or btct.co

But he wants to sell his shares. So that wouldnt be a possibility. And it looks like the passthroughs, that arent real asicminer shares, are even more expensive now than the real shares. At least the last trades suggest this.

You can sell your shares via either of the passthru funds, or both.

The steps needed to be taken are clearly laid out in the two relevant threads.

Once you have the shares transferred into the passthru, you then sell the passthru asset for BTC. 

Ok, didnt know that. I only heard that one can buy the real asicminer shares from deadterra if he has a certain amount of asicminer PT shares.

[ThickAsThieves]

For example:

https://bitfunder.com/asset/G.ASICMINER-PT
https://btct.co/security/ASICMINER-PT

[Jutarul]

Thanks for the update friedcat, as usual, the good news just keep coming in.
Let me address some of your comments, since they deserve an answer.

The PCB production of the main board and the power module has started. For safety the second batch has no changes with respect to the PCB design. ... The deploying of the first batch had met more stagnation since the rewiring for increasing of power capacity of the new place has still been going on since the last week.

From the first day on you've followed a very prudent path to pursue this technology. Not only have you shown proficiency with developing ASIC based bitcoin mining, but also with how to operate it. As a matter of fact I am delighted to see how smooth the deployment went, which gives me confidence that you are on top of things. I am not surprised to see that the community is lining up to become equity holders in your enterprise.

I am looking forward to hear what your post 60 TH plans for the company are (apart from a technological progression). You shouldn't have problems raising new capital after this.

We contribute to the network security as all other miners do. ... ASIC manufactures sell devices to miners. We are both an ASIC manufacture and a miner. Does this make us less useful and more evil than both?

Bitcoin only works if there is a balance of power. As an ASIC supplier you have the moral responsibility to maintain that. This includes yourself as a company - which means you have to prevent yourself from becoming too powerful. I know that sounds odd, but unless you can hit a self-destruct button, you have to account for hostile take overs in your business. You'll see what I mean when you're approached by the first economic hitmen. One way to prevent the accumulation of power is to delegate that power to customers who are willing to compensate for the projected earnings of the corresponding hashing power. However, there are several strategies to accommodate the situation and ideally they should be explored in a revised business plan.

We expect a long-lasting, sharp and harsh difficulty rising therefore this will not likely to be a concern. If it becomes very fortunate for us that the difficulty climbs up slow, selling the devices at that moment at a low price as the current market price is not wise and too early. Refraining the hashpower for several days or weeks may be a better choice.

The current situation is very unpredictable and unstable, which is why I'd give you the benefit of the doubt with your assessment. However, it is the nature of bitcoin that the exact distribution of hashing power cannot be traced to particular entities. Thus, when you say that you "retain" hashing power, people have to take your word for it. In effect this is no different than a promise to not tamper with the blockchain in any malicious way. Given that I understand posts like SebastianJu (https://bitcointalk.org/index.php?topic=99497.msg1605777#msg1605777), where he favors a stealth approach to mining. It is not my place to recommend what the correct procedure for this event may be, but I'd like to provide a fitting quote, which you should apply in such a case: "With great power comes great responsibility".

[Mausini]

Do we smell a whiff of fried cat again? 

Is the recent increase in hashing power you? Would you mind a little pre-thursday update?

[VeeMiner]

Do we smell a whiff of fried cat again? 

Is the recent increase in hashing power you? Would you mind a little pre-thursday update?

well, friedcat was talking about increased hashrate in one of his previous posts... also the other 50 thash/s should be coming in next weeks

[SmiGueL]

well, friedcat was talking about increased hashrate in one of his previous posts... also the other 50 thash/s should be coming in next weeks

He estimated it (60 TH/s, not 50) at the end of April, not March

The rest of the 12TH/s part will probably be added to user 67117 or bitfountain1/2/3
_{(IF that part is ever going to be added, since we're almost 2 weeks on a pretty steady 6TH/s..)}

[Mausini]

Thats right... he should/could do that. But as long as he doesnt calculating it would be a way to circumvent this lack of information. Or do i miss some facts that make this impossible?

It's possible and will definitely do it. Also in the next days if without special circumstances/announcements, new hashpower will be added to the four existing accounts. And in further future if we solo, switch to new pools, or add new accounts of ours, we will not make them anonymous but make them seen by anyone, the same as the four existing accounts.

Anyhow I smell a whiff of fried cat... maybe I'm just hungry 

[novusordo]

I decided to do a whois on bitfountain.com.

Code:

BITFOUNTAIN.COM
      Registered through: GoDaddy.com, LLC (http://www.godaddy.com)
      Domain Name: BITFOUNTAIN.COM
      Created on: 15-Jul-12
      Expires on: 15-Jul-13
      Last Updated on: 15-Jul-12

   Registrant:
   David Fan
   18 South 12 Rd., High-tech Zone, Nanshan
   Shenzhen, Guangdong 518063
   China

   Administrative Contact:
      Fan, David  fandawei.s@gmail.com
      18 South 12 Rd., High-tech Zone, Nanshan
      Shenzhen, Guangdong 518063
      China
      18676665357

   Technical Contact:
      Fan, David  fandawei.s@gmail.com
      18 South 12 Rd., High-tech Zone, Nanshan
      Shenzhen, Guangdong 518063
      China
      18676665357

   Domain servers in listed order:
      KATE.NS.CLOUDFLARE.COM
      TODD.NS.CLOUDFLARE.COM

 

[Naelr]

Another dividend already?
http://blockchain.info/tx-index/60288731/77fc221d2a9bca039720a23e67104fe38e3dae1410bd85abbb6b2045012fc8f1

Its from 13th. But my test-transaction from that dividend payment only got 6 confirmations now... the test-transactions always take some days while the real transaction gets confirmations faster.

I got the test transaction but never got a dividend payment?  Anyone else in this boat?  Is there a site that houses all dividend payments that i missed in this relatively short thread? 

Naelr

[mrb]

Current AM share price is based on investors' expected future (!) profit. As you know, however, difficulty will increase in the future and converges to an equilibrium of operational costs and profits. This implies that it's completely wrong to say operational costs are insignificant. They will be very significant in the future and of course have an effect on today's share valuation. If usd/btc goes up, operational costs go down (in btc). That leads to higher profits (until again an equilibrium is reached), higher dividends and hence higher share valuation.

When the BTC exchange rate goes up, expected future profits increase only for the very short term. When it happens, other miners add capacity and the price/difficulty ratio returns to its previous level in about 2-3 months. If you look at the history of the price/difficulty ratio, you clearly see this effect and this lag of the difficulty level of at most 2-3 months (more often 1-2 months). This is why I keep telling you that, no, an increased BTC exchange rate cannot significantly reduce the long-term relative operating costs of ASICMINER.

[lophie]

If you look at the history of the price/difficulty ratio, you clearly see this effect and this lag of the difficulty level of at most 2-3 months (more often 1-2 months).

This point will make sense if we are still mining with GPU. To be more accurate try the history of price/diff ratio when we started GPU mining and consider that ASIC got way less vendors than GPUs.