ASICMINER: Entering the Future of ASIC Mining by Inventing It

[tkone]

hurray! usb miners!

 

[muyuu]

Just noticed this:

Gavin Andresen has changed the Bitcoin code to block any output with a value of less than 54uBTC:

https://github.com/bitcoin/bitcoin/pull/2577

Many Bitcoin users are going to be affected and see their funds blocked. For instance ASICMiner share payments, BitHits faucet payments, anyone depending on microtransactions. If you depend on small payments you need to change your business model now or find yourself shutdown overnight.

Gavin: It's sad that you aren't willing to speak about this publicly on the forums, rather than hiding away all the debate on GitHub away from the general public.

edit: To be clear, I like the patch: https://github.com/bitcoin/bitcoin/pull/2577#issuecomment-17138223

What I don't like is when I realized not once had Gavin or anyone else in the development team made a public statement that this change was coming down the line. If I hadn't made this post, for all I know it would have been hidden away in the next Bitcoin-QT with no warning at all, right when we all have to upgrade before May 15th.

Why isn't think on your blog or someone else so people have time to change the way their businesses operate? Why the secrecy?

Sounds like friedcat won't be able to send our confirmation satoshis anymore.

As long as the dividend comes through it isn't a problem. Maybe smaller shareholders would have to be paid monthly if the dividend is that low. But currently just one share produces many times the minimum requirement, so not a problem.

[VeeMiner]

Sounds like friedcat won't be able to send our confirmation satoshis anymore.

not necessarily, friedcat can mine his "own" blocks, so he doesn't have to adhere to this policy.

[lophie]

Sounds like friedcat won't be able to send our confirmation satoshis anymore.

not necessarily, friedcat can mine his "own" blocks, so he doesn't have to adhere to this policy.

And coin base tx can have dust outputs, In your face Gavin! (<- Kidding of course I love Gavin and often fantasise about us having a two sig address together <3)

[bitfair]

Update

The mass production of Block Erupter USB is to be done today. Busy testing and packaging will start.

About the argument of dividend payments, our view is that we will distribute the net income after necessary costs are excluded and funds for foreseeable future (expansion, gen-2 chips) are reserved. Bitcoin is already an investment itself having a great potential. Any investment, no matter how profitable, based on "turning Bitcoins to fiat first" requires double consideration. We can invest the RMBs to bonds and they are almost bound to be more profitable than just holding the RMBs, but we can never say the same to Bitcoins.

So we feel that it is most responsible to let the shareholders decide how to do with the abundant Bitcoins. We will of course find other investments (which are focused on helping the Bitcoin economy therefore benefit all Bitcoin holders), but they are all involved in different risk and return model than a mining/mining hardware company. The shareholders of ASICMINER are in principle not supposed to bear the new different risks on doing other business than Bitfountain's. So if there are new investments, they will be as new adventures, in new collaboration structures, and after a significant period of time since ASICMINER is always the most important job for us to do before the company could gradually run itself with a little less founder involvement.

Thank you, friedcat. Your strategy sounds both wise and prudent. Congratulations on the success of you and your team, you certainly deserve it.

[Mausini]

funny how different people can think about dividends I see asicminer and BTC as a 3 year deal. when the halfing comes I expect  btc to die. I don't foresee a 10 or 20 year plan.  I call it a golden goose. I think the goose will be dead in 3 to 5 years. This is due to the 50 percent now 25 percent of the coins means only 25 percent left in 2016.

  lets say AM stays in the 20 to 25% share of the total hash. so 2016 25% of the coins left then 2018 12.5%.  I can not see mining being the push to this market.  I also can't see normal big business allowing btc to grow to 1000usd a coin.  I think of this as a dwindling resource that I am getting a small piece of it. Cutting dividends would be like hoarding the golden eggs of our goose.  I am happy that the 'cat' is doing what he is doing.  I intend to enjoy yhe ride for 2 to 4 years.

Hilarious! Under which tree do you live? Thats all unsubstantiated FUD. Nobody is interested in your "thoughts". Get out of here and please dont bother to explain..

That attitude is perfectly aligned with the halving in 2016, but sadly, it means that people that buy in now will not recouperate their investments unless AM has a significantly higher share of the network than they expect.

.b

I think your guide how to buy asicminer shares was great standing for itself. However, you clearly published it to attract potential shareholders and increase the price, because you were invested in asicminer. Then you stupidly speculated on falling prices and sold your shares. Now you spam this forum to lower the price??? Ridiculous!

Furknap, can you please stop trying to manipulate the price? Admit to yourself, you falsely speculated on a dropping price after the huge dividends. I would have also expected that, but it didnt happen. Take the hit and shut up! Thats a great sign for asicminer and confidence of shareholders. Its almost funny to see you struggling with the numbers, being in a state of denial. Never fall in love with your excel sheet! Just because there are some numbers, you build some magic equations and everything seems to be just working as you predict does not mean its correct. Even from what Ive read in the pages you wrote here (to influence others) I saw some major flaws.

[philipma1957]

funny how different people can think about dividends I see asicminer and BTC as a 3 year deal. when the halfing comes I expect  btc to die. I don't foresee a 10 or 20 year plan.  I call it a golden goose. I think the goose will be dead in 3 to 5 years. This is due to the 50 percent now 25 percent of the coins means only 25 percent left in 2016.

  lets say AM stays in the 20 to 25% share of the total hash. so 2016 25% of the coins left then 2018 12.5%.  I can not see mining being the push to this market.  I also can't see normal big business allowing btc to grow to 1000usd a coin.  I think of this as a dwindling resource that I am getting a small piece of it. Cutting dividends would be like hoarding the golden eggs of our goose.  I am happy that the 'cat' is doing what he is doing.  I intend to enjoy yhe ride for 2 to 4 years.

Hilarious! Under which tree do you live? Thats all unsubstantiated FUD. Nobody is interested in your "thoughts". Get out of here and please dont bother to explain..

That attitude is perfectly aligned with the halving in 2016, but sadly, it means that people that buy in now will not recouperate their investments unless AM has a significantly higher share of the network than they expect.

.b

I think your guide how to buy asicminer shares was great standing for itself. However, you clearly published it to attract potential shareholders and increase the price, because you were invested in asicminer. Then you stupidly speculated on falling prices and sold your shares. Now you spam this forum to lower the price??? Ridiculous!

Furknap, can you please stop trying to manipulate the price? Admit to yourself, you falsely speculated on a dropping price after the huge dividends. I would have also expected that, but it didnt happen. Take the hit and shut up! Thats a great sign for asicminer and confidence of shareholders. Its almost funny to see you struggling with the numbers, being in a state of denial. Never fall in love with your excel sheet! Just because there are some numbers, you build some magic equations and everything seems to be just working as you predict does not mean its correct. Even from what Ive read in the pages you wrote here (to influence others) I saw some major flaws.

 

 Dude I like you I am on the opposite side of the fence from furuknap and you completely dis the both of us. That is pretty cool.

[freedomno1]

O_O careful now we don't want to become apple zombies  
Edit mean really extreme fanboys
(fried cats) (To self come up with a better bull sounding name)  

[lophie]

Too late we are already fatatic about ASICMINER

[freedomno1]

Too late we are already fatatic about ASICMINER

Perfect now we are all Fried Cats Xd

[ineededausername]

Looks like we have so many bitcoins we don't know what we should do with them

[gog1]

Anyone keeps track of the USB stick group buys?  If they sold out, that's 5 bitcent of revenue per share.

[lophie]

Looks like we have so many bitcoins we don't know what we should do with them

Send some here...... oh wait my wallet is full right now..... I will come back to you later....

[SmiGueL]

I've just created a new site which combines all my ASICMINER hashrate charts (almost) full-screen on 1 page 

www.asicminercharts.com

_{In the next days/weeks I'll improve it by creating a light & dark version, and maybe some thumbs at the top or side to quickly navigate to the desired chart}

[velacreations]

whoa!  look at those share prices. 
What a week for AM!

[lophie]

I've just created a new site which combines all my ASICMINER hashrate charts (almost) full-screen on 1 page 

www.asicminercharts.com

_{In the next days/weeks I'll improve it by creating a light & dark version, and maybe some thumbs at the top or side to quickly navigate to the desired chart}

How about a counter for the expected div by share which zeroes every week and updates four times a day  , BTW Donated because you are awesome... and because you are registering alot of domains just to provide us with your services -_-!, Sheesh man use subdomains.

[stripykitteh]

O_O careful now we don't want to become apple zombies  
Edit mean really extreme fanboys
(fried cats) (To self come up with a better bull sounding name)  

+1

I don't mind seeing opinions different to mine, as long as they are evidence-based and rational. It's not about picking 'sides', it's about trying to understand something new that is becoming important to a lot of people. Ad-hominem attacks do not an argument make.

[hammurabi]

I've just created a new site which combines all my ASICMINER hashrate charts (almost) full-screen on 1 page 

www.asicminercharts.com

_{In the next days/weeks I'll improve it by creating a light & dark version, and maybe some thumbs at the top or side to quickly navigate to the desired chart}

You should draw a rocket engine to the very last dividend.
It's hard to spot that jumping out of the chart dot out there

[ThickAsThieves]

I've just created a new site which combines all my ASICMINER hashrate charts (almost) full-screen on 1 page 

www.asicminercharts.com

_{In the next days/weeks I'll improve it by creating a light & dark version, and maybe some thumbs at the top or side to quickly navigate to the desired chart}

SmiGuel, thanks for the sponsor link and for making such useful charts.

Can you tell us a little about how you collect the data for them? Is it all manually done, or are some things dynamic?

Thanks!

[talnted]

Update

The mass production of Block Erupter USB is to be done today. Busy testing and packaging will start.

About the argument of dividend payments, our view is that we will distribute the net income after necessary costs are excluded and funds for foreseeable future (expansion, gen-2 chips) are reserved. Bitcoin is already an investment itself having a great potential. Any investment, no matter how profitable, based on "turning Bitcoins to fiat first" requires double consideration. We can invest the RMBs to bonds and they are almost bound to be more profitable than just holding the RMBs, but we can never say the same to Bitcoins.

So we feel that it is most responsible to let the shareholders decide how to do with the abundant Bitcoins. We will of course find other investments (which are focused on helping the Bitcoin economy therefore benefit all Bitcoin holders), but they are all involved in different risk and return model than a mining/mining hardware company. The shareholders of ASICMINER are in principle not supposed to bear the new different risks on doing other business than Bitfountain's. So if there are new investments, they will be as new adventures, in new collaboration structures, and after a significant period of time since ASICMINER is always the most important job for us to do before the company could gradually run itself with a little less founder involvement.

I think this is the best policy.  Thanks Friedcat for the update