ASICMINER: Entering the Future of ASIC Mining by Inventing It

[SmiGueL]

Based on how the BTC/Day jumps when all the TH/s was moved to BTCGuild, it seems like the BTC/Day calculation was only calculating BTC/day from BTCGuild.

That's right, the Ozco.in stats were added later (the next column) and I didn't change the name of the BTC/day column. _{(I did now )}
These values were used for my personal BTC/day graph but I removed it later.

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[imsaguy]

OK Nov 25th, 2016 as per https://en.bitcoin.it/wiki/Mining

Those dates where made assuming difficulty wasn't changing.  The date nears when hashpower increases/difficulty goes up and the date goes further in the future when hashpower decreases/difficulty goes down.

For example, if difficulty continues to go up every difficulty period by 10%, then the difficulty period is no longer ~14 days and instead only ~12.6 days.  Right now, the halving will be sooner than Nov 25th 2016.

[lophie]

I really don't like to bring this up again and again but Friedcat have to give us ETA on the exchange very soon! For the ones who are willing to trade so they can jump on other investment or spend some of the earnings, we are losing alot.

The speculation price for ASICMINER shares should have been greatly affected by many events and because the exchange was not available by that time alot of us lost alot of money and opportunity. For example.

- Some would have sold to buy Avalon ASICs before the first deployment. They could have been in Batch #1!
- Some would bought before the first dividend for much much less (I know I did so and could have done WAY better)
- Some could have sold for much higher due to speculation effect since the first deployment (Jutarul fixed auction for 0.5 was an utter loss and waste of effort for him in my opinion!)

and alot more!

By next week we will hit the "Break-even" for the IPO price which will cut the dividends by 50% AND even more! because ASICMINER "might" save up to 35% of the profit for future investments and expansions. (Refer to IPO). Considering as well the "relatively"slow deployment rate that doesn't look like it is going to compensate for the two points I just mentioned, This event will greatly affect the share price and open alot of opportunities for many of us either seeking liquidation or more shares.

I urge friedcat to address this issue in this week's update with satisfying details to the shareholders. Thank you for the hard work Friedcat. We really DO appreciate it. We just need this information

[🏰 TradeFortress 🏰]

By next week we will hit the "Break-even" for the IPO price which will cut the dividends by 50% AND even more! because ASICMINER "might" save up to 35% of the profit for future investments and expansions. (Refer to IPO). This event will greatly affect the share price and open alot of opportunities for many of us either seeking liquidation or more shares.

We also might get more hashpower, like really

[lophie]

We also might get more hashpower, like really

Considering as well the "relatively"slow deployment rate that doesn't look like it is going to compensate for the two points I just mentioned

So unless we will grow by 60% at least. We are going to receive way less dividends next week!

[🏰 TradeFortress 🏰]

We also might get more hashpower, like really

Considering as well the "relatively"slow deployment rate that doesn't look like it is going to compensate for the two points I just mentioned

Trying to figure out ASICMINER's deployment process purely by watching their workers isn't a good way to predict future hashpower.

Also, using a portion of the dividends to increase future expansion is not a bad idea at all. It's the difference between an actual mining company and a PMB.

[Jutarul]

- Some could have sold for much higher due to speculation effect since the first deployment (Jutarul fixed auction for 0.5 was an utter loss and waste of effort for him in my opinion!)

Of course you're entitled to your own opinion. But I am an investor not a speculator, thus my math works a little bit differently. The price of 0.5 BTC/share was chosen for two reasons: a) it was a target sell from the get-go (yes I do have a schedule). b) It is what I consider a "fair" trading price, which takes into account the expected earnings in the foreseeable future. The current market price only makes sense if you assume that people "bet" on the genius friedcat to come up with a way to continue the success story past 2013. And for that very same reason I am not gonna liquidate my remaining position for a long time. Thank you.

[🏰 TradeFortress 🏰]

- Some could have sold for much higher due to speculation effect since the first deployment (Jutarul fixed auction for 0.5 was an utter loss and waste of effort for him in my opinion!)

Of course you're entitled to your own opinion. But I am an investor not a speculator, thus my math works a little bit differently. The price of 0.5 BTC/share was chosen for two reasons: a) it was a target sell from the get-go (yes I do have a schedule). b) It is what I consider a "fair" trading price, which takes into account the expected earnings in the foreseeable future. The current market price only makes sense if you assume that people "bet" on the genius friedcat to come up with a way to continue the success story past 2013. And for that very same reason I am not gonna liquidate my remaining position for a long time. Thank you.

You also bought in at IPO price right?

[Jutarul]

You also bought in at IPO price right?

correct.

[ShadesOfMarble]

Selling my ASICMINER shares:

https://bitcointalk.org/index.php?topic=155440.0

[lophie]

You also bought in at IPO price right?

correct.

Same here for most of my shares

[VeeMiner]

I suggest that friedcat sets up the shares on bitfunder.com, it seems like a good enough exchange. The GLBSE problem can't happen again since there doesn't have to be a significant amount of BTC going in/out of the exchange. It has a 2 factor authentication and that seems good enough for me.

What do you guys think? I think developing own trading platfor will take forever and it will be too much work. Also dealing with security is a problem. Anyway I think that the liquidity of the shares would go up and it would be good for ASICMINER

[Tachikoma]

The problem is, I assume, that a lot of time and money already went into building their own solution. If they decide to go for Bitfunder they would throw that all away. With the passthroughs happening I can only speculate it released some of the pressure on their own platform since trading can now happen relatively easy.

Who knows, perhaps today's update can address it.

[Lethos]

I'm sure this will be seen as negative, but I'm not really fussed about ASICMiner being back on a share/stock exchange.

ASICMiner was one of the few success stories that also survived GLBSE. Why risk the stress (and loss of BTC) of that happening again.

[Franktank]

I'm sure this will be seen as negative, but I'm not really fussed about ASICMiner being back on a share/stock exchange.

I would agree. There are the two passthroughs on the two stock exchanges if there are individuals who prefer that method. Personally, I think there's a novel appeal to scouring the Marketplace forums for AM shares. It forces potential buyers to research and see what they're getting into. It also encourages interaction and knowing who you're dealing with, as opposed to just clicking "buy/sell" (which are perfectly fine methods as well). These are all positives (imo). Until there is an official platform, I think the current method is a fine stop-gap for the time being.

[Mausini]

I would not even sell shares just for the fun of being involved in such an interesting project. No need for a platform. Shares are traded anyways. I'm rather curious when the remaining 6 TH will come online. It would be awesome, if hashing speed doubles exactly when the 200k bitfountain shares set in (or earlier). Looking forward to today's update.

Edit: AM on BTCGuild down 1 TH and bitfountain miner back on ozcoin

[ThickAsThieves]

I would not even sell shares just for the fun of being involved in such an interesting project. No need for a platform. Shares are traded anyways. I'm rather curious when the remaining 6 TH will come online. It would be awesome, if hashing speed doubles exactly when the 200k bitfountain shares set in (or earlier). Looking forward to today's update.

Edit: AM on BTCGuild down 1 TH and bitfountain miner back on ozcoin

I speculate that you'll see another 6TH right after the next diff change.

[samson]

I speculate that you'll see another 6TH right after the next diff change.

That would definitely be a good time to turn it all on.

[SebastianJu]

I speculate that you'll see another 6TH right after the next diff change.

That would definitely be a good time to turn it all on.

I believe that wouldnt matter because the next diff will be calculated in average of the last difficult mined. So if you turn it on earlier you would probably even get an advantage because of the lower competition and the diff wouldnt raise that much because it was only online and mining a short time. Otherwise one could take out all hashpower short before the next diff to set the next diff lower.

[jgarzik]

How about this:  make it possible for users to create their own decentralized exchange.

• Register a bitcoin address for each shareholder, if not already.  This enables the ability to authenticate cryptographically signed digital messages.  See this stackexchange answer for a guide.  Most bitcoin clients support signing messages.  Registering a GPG key for each shareholder is an alternative, though that requires additional software beyond a bitcoin client.
• Publicly declare a bitcoin address and GPG key for official ASICMINER messages.
• Publicly declare an email address for emailing ASICMINER robot
• At the end of every day, ASICMINER robot produces a message listing all shareholders, by key and share count.  Attach bitcoin and GPG digital signatures.
• To trade ASICMINER shares, the seller sends a digitally-signed message "transfer N shares to bitcoin address FOO" to the ASICMINER robot.

That is all that is needed on the ASICMINER side:  maintain a shareholder registry.  changes to the shareholder registry may be both pseudonymous and secure.

Then anyone may build an exchange that trades shares.  Anyone may trade ASICMINER shares at any time, using this method.