ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Newar]

Again, stratum protocol does not support merge mining name coins. That is probably the biggest hurdle. But, maybe some programming would be worthwhile to make that possible. even if it were just 2% extra, you could be talking about 10,000USD extra a month, which may pay for itself in just a few days if the whole ship heads solo.

It may not "support" it, but it works well anyway on both BitMinter (NMC) and Bitparking (NMC, IXC, DVC) pools.

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[furuknap]

I would love to know

1. What are the two-three month perspective on hashrate, earnings, and profitability
2. What are the funding requirements to reach those goals and how will that funding take place?
3. What is the current financial situation of the company (ie assets, liabilities, running costs, currency denominations, and so on)
4. What is the policy on managing capital (ie is it exchanged every week, do they set aside capital for unforeseen expenses, etc)

1. 62+200=262TH/s. Earnings and profitability highly depends on the competitors and how the price range the purchasers will accept after two to three months. And please bear in mind that they are perspectives, only bonds could usually give a fixed range of profit predictions.
2. The final margin cost for 1TH/s is less than 10k$, the actual number depends on the volatile price of PCB components. Installing and power bill are currently low. We will be self-funded.
3. We are virtually free of any liabilities at this moment. The rest, as said above, will be generated from our Bitcoins and fiat transactions as well as contracts.
4. They are all set aside as reserves for the future. We do not get the Bitcoins sold only one day before the merchants knock our door asking for payments.

And for the Block Erupter USB sticks. Please stay tuned for later news.

Very nice update, friedcat, much appreciated. This answers, combined with your expectations of periodic financial updates, the concerns that I had almost to perfection.

One follow-up question, or rather request for confirmation; you mentioned in 2) that you will be self-funded. I assume that means you won't be looking at external investors but that funding will still need to come from regular earnings and thus reduce dividends from current levels?

Finally, and as mentioned, this would at least be sufficient to me: Are you comfortable with the progress you are making according to your plans?

I'm asking this because I know you and your partners have the same interests in this as we have, and if you are satisfied, that probably means we should be too.

Thanks again from a still confident shareholder,

.b

[mrb]

Damn, so many haters here. You, guys, have got to give credit for all the work friedcat has done so far (processing payments from the auctions, distributing dividends, deploying and shipping equipment) because it's due. He definatelly exceeded my expectations.

In case it is me you call a hater: I am not.

I am just correcting bad information spread by others who say that "everything is rosy and went perfectly as expected".

[matt4054]

We can only connect well to BTCGuild right now, so the answer is... never.  Until we solo-mine.

Why is this? What prevents ASICMINER to mine on other Stratum pools with selectable share difficulty, like 50BTC or whatever other Stratum pool? Not complaining here, but I really don't have a clue why "we can only connect well to BTCGuild right now".

I admit I haven't read the full 220 pages of this thread, but I estimate that the thread has grown too large to avoid repeats, if that question was already answered in the past.

[ex-trader]

From an operational integrity point of view it would make sense to split capacity into several separate distinct units and mine them separately, perhaps 1/3rd solo and 1/3rd each on two different pools. That way if one has a problem then the loss is only 1/3rd of capacity. This also helps mitigate the 50%+ problem.

[ewibit]

Again, stratum protocol does not support merge mining name coins. That is probably the biggest hurdle. But, maybe some programming would be worthwhile to make that possible. even if it were just 2% extra, you could be talking about 10,000USD extra a month, which may pay for itself in just a few days if the whole ship heads solo.

and why is it here
http://mmpool.bitparking.com
possible?

[gramma]

Why not merged mine NMC at a pool with merged mining? (not sure if btcguild still has it). Could be earning 108% more.

Stratum protocol doesn't support NMC. 108% more sounds misleading, do you mean 108%? Or do you mean 8% more?

hmm, if earning is 100, then 100 * 108%, what do you get? or did I learn math wrong?

Stratum does support NMC, mine at bitminter.com and you'll see.

Slush also supports Stratum with NMC. And it's 8%-ish more, or 108% of what we're now getting (not net of fees, of course, and Slush's are lower than 3%). Can't speak to bitminter. I'd also like to see the hashes spread out a bit whenever possible.

That isn't accurate from what I've read. Slush only supports NMC on getwork which has a huge fee.

I've read the same. However, although I have largely stopped mining BTC at this point, I was regularly (up to a couple of weeks ago or so) getting NMC about every fifth block or so with Slush, and always on Stratum.

[SebastianJu]

Again, stratum protocol does not support merge mining name coins. That is probably the biggest hurdle. But, maybe some programming would be worthwhile to make that possible. even if it were just 2% extra, you could be talking about 10,000USD extra a month, which may pay for itself in just a few days if the whole ship heads solo.

It may not "support" it, but it works well anyway on both BitMinter (NMC) and Bitparking (NMC, IXC, DVC) pools.

Yes, Bitparking is stratum and is merge mining BTC, NMC, IXC and DVC at the same time.

[Newar]

Again, stratum protocol does not support merge mining name coins. That is probably the biggest hurdle. But, maybe some programming would be worthwhile to make that possible. even if it were just 2% extra, you could be talking about 10,000USD extra a month, which may pay for itself in just a few days if the whole ship heads solo.

It may not "support" it, but it works well anyway on both BitMinter (NMC) and Bitparking (NMC, IXC, DVC) pools.

Yes, Bitparking is stratum and is merge mining BTC, NMC, IXC and DVC at the same time.

And a new contender: https://bitcointalk.org/index.php?topic=194464.0

Currently offering the following coins:
Bitcoin: stratum+tcp://multipool.in:3332/
Litecoin: stratum+tcp://multipool.in:3334/
Terracoin: stratum+tcp://multipool.in:3333/
Feathercoin: stratum+tcp://multipool.in:3337/
Mincoin: stratum+tcp://multipool.in:3339/

[lophie]

Again, stratum protocol does not support merge mining name coins. That is probably the biggest hurdle. But, maybe some programming would be worthwhile to make that possible. even if it were just 2% extra, you could be talking about 10,000USD extra a month, which may pay for itself in just a few days if the whole ship heads solo.

It may not "support" it, but it works well anyway on both BitMinter (NMC) and Bitparking (NMC, IXC, DVC) pools.

Yes, Bitparking is stratum and is merge mining BTC, NMC, IXC and DVC at the same time.

And a new contender: https://bitcointalk.org/index.php?topic=194464.0

Currently offering the following coins:
Bitcoin: stratum+tcp://multipool.in:3332/
Litecoin: stratum+tcp://multipool.in:3334/
Terracoin: stratum+tcp://multipool.in:3333/
Feathercoin: stratum+tcp://multipool.in:3337/
Mincoin: stratum+tcp://multipool.in:3339/

What contender? Those coins can't be merged mined with BTC  

By the way check my sig, Sleep deprivation produced it  

[LazyOtto]

Again, stratum protocol does not support merge mining name coins.

You are wrong.

[Lohoris]

The problem for ASICMiner is that they setup expectations, based on the payment of weekly dividends. There is no real need to either pay dividends that frequently and thought should be given as to whether it's optimal, since the volatility of weekly dividends is a potentially unnecessary distraction.

Totally wrong.

Most bitcoin aficionados are amateurs, not professionals dealing in finance stuff. Hence they expect what is most reasonable irregardless of "status quo" in the outside world, and that is exactly constantly paying dividends. There's no reason not to do so, so they do it. I wouldn't trust to hold shares of a company if I wouldn't be getting any money for months. And most people would buy the shares just before the dividend payment, and sell them afterwards.

[friedcat]

Another 1.5T online, temporarily allocated on bitminter. Will switch to solo later on.

[Newar]

Another 1.5T online, temporarily allocated on bitminter. Will switch to solo later on.

Yay, merged mining! ;-)

Looks that's the last of the 15 TH/s then.

[SmiGueL]

Another 1.5T online, temporarily allocated on bitminter. Will switch to solo later on.

Nice!

The hashrate of BitMinter can be found here http://bitminter.com/livestats/big
_{And I'll add it to my stats sheet}  

[ex-trader]

Congratulations FriedCat!

14.2 TH/s on BTC plus 1.5T on Bitminter and you've beaten the 15T promised.

In a world of dreamers and bullshitters ASICMiner stand head and shoulders above others and delivers......

[Mausini]

congratulations, friedcat! brilliant job!

[SebastianJu]

Another 1.5T online, temporarily allocated on bitminter. Will switch to solo later on.

Thank you guys!

[friedcat]

Another 1.5T online, temporarily allocated on bitminter. Will switch to solo later on.

Yay, merged mining! ;-)

Looks that's the last of the 15 TH/s then.

No, more to come today.

[JimiQ84]

Another 1.5T online, temporarily allocated on bitminter. Will switch to solo later on.

Yay, merged mining! ;-)

Looks that's the last of the 15 TH/s then.

No, more to come today.

I see, Christmas for AM shareholders came early this year. Awesome!