ASICMINER: Entering the Future of ASIC Mining by Inventing It

[gmouse]

What AsicMiner need is a better public image, a website.

And a forum while at it, This bloated thread is not cutting it.

I have no idea where we are on that front but that should be a priority if you intent on selling products to end-users.

I agree with this sentiment, at least in the long-term.  The product, in six months' time, if it is to compete with BFL, will need to be more user-friendly, and sold to the masses, not just here in auctions.  A web presence seems like a logical first step.

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[Rodyland]

While I like the idea of a dutch auction, when your client base is spread across all the timezones of the world, that makes it either very slow, or very unfair.  Maybe very slow would work - 24 hours per tier.

You could probably get around the slowness somewhat by pre-advertising the auction schedule, and people could make sure that they or someone they trust is around to bid for them when the auction price hits their limit.

The other option would be silent auction.

Although from what John has been saying it seems like many people wouldn't understand either dutch or silent auction rules, given how many don't seem to get how a 'normal' auction works.

[Jutarul]

The Block Erupter USB sticks passed all the tests and we are about to produce them in quantity.

Hip hip hooray!

Looking forward to the auction. Will likely receive a huge mark up, since due to its form factor it will serve as a promotional and educational tool.

It would be nice if someone would create a script package which allows a laptop to automatically start mining, the moment the stick is plugged in. Could run as a background service.

[redbeans2012]

The Block Erupter USB sticks passed all the tests and we are about to produce them in quantity.

Any more specifics on this? When are you expecting them to be complete? What will be the starting price? Any other info is appreciated.

[organofcorti]

While I like the idea of a dutch auction, when your client base is spread across all the timezones of the world, that makes it either very slow, or very unfair.  Maybe very slow would work - 24 hours per tier.

You could probably get around the slowness somewhat by pre-advertising the auction schedule, and people could make sure that they or someone they trust is around to bid for them when the auction price hits their limit.

No need. Just start alternating auctions in timezones 12 hours apart. Start one at say 6pm Beijing time, and the next at 6pm New York time.

The other option would be silent auction.

Although from what John has been saying it seems like many people wouldn't understand either dutch or silent auction rules, given how many don't seem to get how a 'normal' auction works.

That's a depressing thought. Although one viewing of a dutch auction and you get the idea quickly. Especially when someone leaves with the last item and posts "so long, suckers!". Grumble.

[arklan]

The Block Erupter USB sticks passed all the tests and we are about to produce them in quantity.

any further info of course is appreciated, but i understand if there isn't much to say.

but - since you've got units in hand - can we get some more pictures? top and bottom, at least? i'm primarily curious about their dimensions, since the original picture we've seen wouldn't allow for side by side placement with closely spaced usb ports.

[furuknap]

Hm... Was I the only one who expected over 0.012 per share? I know friedcat said he held back ฿2K to pay for future growth, but isn't that virtually all of the auction proceeds?

.b

[louong]

While I like the idea of a dutch auction, when your client base is spread across all the timezones of the world, that makes it either very slow, or very unfair.  Maybe very slow would work - 24 hours per tier.

You could probably get around the slowness somewhat by pre-advertising the auction schedule, and people could make sure that they or someone they trust is around to bid for them when the auction price hits their limit.

Could you not alleviate that by allowing people to put in bids below the current dutch auction price? i.e. say the price is 50BTC, someone can post that they want 4 @ 45. So they don't have to constantly monitor things, they can just take the risk that if the price falls to 45, they will get 4 for them to pickup (provided they are the first bids).

[organofcorti]

While I like the idea of a dutch auction, when your client base is spread across all the timezones of the world, that makes it either very slow, or very unfair.  Maybe very slow would work - 24 hours per tier.

You could probably get around the slowness somewhat by pre-advertising the auction schedule, and people could make sure that they or someone they trust is around to bid for them when the auction price hits their limit.

Could you not alleviate that by allowing people to put in bids below the current dutch auction price? i.e. say the price is 50BTC, someone can post that they want 4 @ 45. So they don't have to constantly monitor things, they can just take the risk that if the price falls to 45, they will get 4 for them to pickup (provided they are the first bids).

Even better -  as long as the bids are secret. Otherwise people will keep checking the thread to see if they've been outbid, before the auction even starts!

[AMuppInTime]

Hm... Was I the only one who expected over 0.012 per share? I know friedcat said he held back ฿2K to pay for future growth, but isn't that virtually all of the auction proceeds?

.b

Why were you expecting over 0.012 per share?

[Socket54]

The Block Erupter USB sticks passed all the tests and we are about to produce them in quantity.

Awesome sauce, thanks a ton for the update on those. Blew my allowance taking the now very happy lady to the steakhouse tonight but might can scrounge up a bit more funny monies fairly easy now without risking castration. Watching these neat lil gadgets.

On another note, if anyone else here is into neat gadgets and electronics check this must have:

http://www.indiegogo.com/projects/robot-dragonfly-micro-aerial-vehicle?website_name=robotdragonfly

Very cool

[aahzmundus]

The Block Erupter USB sticks passed all the tests and we are about to produce them in quantity.

In what quantity may I ask?

[VJain]

The Block Erupter USB sticks passed all the tests and we are about to produce them in quantity.

Awesome sauce, thanks a ton for the update on those. Blew my allowance taking the now very happy lady to the steakhouse tonight but might can scrounge up a bit more funny monies fairly easy now without risking castration. Watching these neat lil gadgets.

On another note, if anyone else here is into neat gadgets and electronics check this must have:

http://www.indiegogo.com/projects/robot-dragonfly-micro-aerial-vehicle?website_name=robotdragonfly

Very cool

Are you suggesting flying ASICMINER USB Drives... honeybees ?

On Topic - It might be cool to pick up a few of these USB drives, but I'm assuming shipping would be more expensive than the actual drive... and assuming they are ready in about a month, might take 4-5 months to pay off (I threw random numbers in a calculator).

@Friedcat - would you consider selling bulk quantities to people and have them resell them from various locations around the world? Probably would be easier/cheaper in terms of shipping and logistics that way.

[StevenPine]

Are you suggesting flying ASICMINER USB Drives... honeybees ?

On Topic - It might be cool to pick up a few of these USB drives, but I'm assuming shipping would be more expensive than the actual drive... and assuming they are ready in about a month, might take 4-5 months to pay off (I threw random numbers in a calculator).

@Friedcat - would you consider selling bulk quantities to people and have them resell them from various locations around the world? Probably would be easier/cheaper in terms of shipping and logistics that way.

I like this idea -- having the first USB auction have a minimum purchase order (as in 10 units or something), this will make it easier to manage the auction, perhaps depress the price slightly but make shipping easier/cheaper.

[John (John K.)]

Are you suggesting flying ASICMINER USB Drives... honeybees ?

On Topic - It might be cool to pick up a few of these USB drives, but I'm assuming shipping would be more expensive than the actual drive... and assuming they are ready in about a month, might take 4-5 months to pay off (I threw random numbers in a calculator).

@Friedcat - would you consider selling bulk quantities to people and have them resell them from various locations around the world? Probably would be easier/cheaper in terms of shipping and logistics that way.

I like this idea -- having the first USB auction have a minimum purchase order (as in 10 units or something), this will make it easier to manage the auction, perhaps depress the price slightly but make shipping easier/cheaper.

This should be the plan AFAIK.

[furuknap]

Hm... Was I the only one who expected over 0.012 per share? I know friedcat said he held back ฿2K to pay for future growth, but isn't that virtually all of the auction proceeds?

.b

Why were you expecting over 0.012 per share?

I don't know, maybe I've just become greedy :-) The auction brought in something like 0.006 per share, and the hash rate is at least 50% more than it was a week ago.

I guess my question is whether we will need to continue holding auctions to pay for future growth and that the money doesn't come back to shareholders. Even at a 50% increased hash rate, with BFLs rolling out every orifice they have and Avalons coming in full force, I would like to see plans for a bit more than tomorrow, or even a week ahead.

I was under the impression that the future growth thing was already financed up to around 200 TH/s, which is why we could sell off blades and dividend virtually all of the proceeds. If we're still left paying for this now, that will cut deeply into dividends, and with other vendors becoming more available, the premium we can get from auctioning off blades or bees will drop too. A 300 MH/s bee in production is... well, not money in the bank.

Maybe some clarity in financial plans and requirements for the next couple of months and a comment from friedcat about how much power they plan to roll out for example until August 1 would help make better decisions? With current share prices and maybe around the same dividends, we're suddenly looking at 27% dividend rate. Granted, that's still sky high, but its still much lower than just a few weeks ago, and with increasing competition and unclear financual requirements.

Don't get me wrong, I was probably just caught up in the hype a bit, I'm still a strong believer :-)

.b

[gog1]

The 2000 btc reserve is for more ic and usb miners.  Pretty good turnaround for usb miners from drawing board to production

[redbeans2012]

The Block Erupter USB sticks passed all the tests and we are about to produce them in quantity.

Awesome sauce, thanks a ton for the update on those. Blew my allowance taking the now very happy lady to the steakhouse tonight but might can scrounge up a bit more funny monies fairly easy now without risking castration. Watching these neat lil gadgets.

On another note, if anyone else here is into neat gadgets and electronics check this must have:

http://www.indiegogo.com/projects/robot-dragonfly-micro-aerial-vehicle?website_name=robotdragonfly

Very cool

Are you suggesting flying ASICMINER USB Drives... honeybees ?

On Topic - It might be cool to pick up a few of these USB drives, but I'm assuming shipping would be more expensive than the actual drive... and assuming they are ready in about a month, might take 4-5 months to pay off (I threw random numbers in a calculator).

@Friedcat - would you consider selling bulk quantities to people and have them resell them from various locations around the world? Probably would be easier/cheaper in terms of shipping and logistics that way.

Can't wait to see pictures of future bitcoin mining rigs when these are out en masse.  Hundreds of USB hubs connected to one another.  (if that would even work I dont know)

[Luke-Jr]

Can't wait to see pictures of future bitcoin mining rigs when these are out en masse.  Hundreds of USB hubs connected to one another.  (if that would even work I dont know)

No way, big time miners are going to be using the blades and bigger integrated stuff.
These USB things are for the small guy

[furuknap]

The 2000 btc reserve is for more ic and usb miners.  Pretty good turnaround for usb miners from drawing board to production

I know what it's _for_, friedcat already mentioned that.

The question is, will we need another ฿2000 next week? In a month? What are the investment requirements remaining to bring the 200 TH/s (not to mention the 50 TH/s) online?

What are the plans beyond tomorrow and a week ahead?

.b