ASICMINER: Entering the Future of ASIC Mining by Inventing It

[JimiQ84]

ASICMiner market cap =
BTC 864,000   (@ btc 2.16/share)
$105,408,000   (@ $122 btc/usd)

Yet bitcoin's market cap =
11,175,575 (bitcoins mined)
$1,363,420,150 (@ $122 btc/usd)

and ASICMiner =
33% of total hash rate

yet ASICMiner currently trades at =
12% of of bitcoin market cap

without issuing dividends ASICMiner should trade at =
33% of bitcoin market cap

this puts the share price at =
BTC 5.94

and this represents a =
275% price increase from today's prices

ASICMiner does issue dividends making the shares more attractive than holding bitcoins and would logically trade at a premium to its network value (the % it contributes to the bitcoin network)


feel free to repost, and discuss this pricing analysis.

AM's hashrate is 20-25% of network. More than 50% of BTC has been already mined... therefore, 12% valuation seems right to me.

[1715448657]

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[stslimited]

ASICMiner market cap =
BTC 864,000   (@ btc 2.16/share)
$105,408,000   (@ $122 btc/usd)

Yet bitcoin's market cap =
11,175,575 (bitcoins mined)
$1,363,420,150 (@ $122 btc/usd)

and ASICMiner =
33% of total hash rate

yet ASICMiner currently trades at =
12% of of bitcoin market cap

without issuing dividends ASICMiner should trade at =
33% of bitcoin market cap

this puts the share price at =
BTC 5.94

and this represents a =
275% price increase from today's prices

ASICMiner does issue dividends making the shares more attractive than holding bitcoins and would logically trade at a premium to its network value (the % it contributes to the bitcoin network)


feel free to repost, and discuss this pricing analysis.

AM's hashrate is 20-25% of network. More than 50% of BTC has been already mined... therefore, 12% valuation seems right to me.

I considered that, doesn't their upcoming hardware additions move them closer to 33%

[fently]

ASICMiner market cap =
BTC 864,000   (@ btc 2.16/share)
$105,408,000   (@ $122 btc/usd)

Yet bitcoin's market cap =
11,175,575 (bitcoins mined)
$1,363,420,150 (@ $122 btc/usd)

and ASICMiner =
33% of total hash rate

yet ASICMiner currently trades at =
12% of of bitcoin market cap

without issuing dividends ASICMiner should trade at =
33% of bitcoin market cap

this puts the share price at =
BTC 5.94

and this represents a =
275% price increase from today's prices

ASICMiner does issue dividends making the shares more attractive than holding bitcoins and would logically trade at a premium to its network value (the % it contributes to the bitcoin network)


feel free to repost, and discuss this pricing analysis.

AM's hashrate is 20-25% of network. More than 50% of BTC has been already mined... therefore, 12% valuation seems right to me.

I considered that, doesn't their upcoming hardware additions move them closer to 33%

The amount of BTC already mined has nothing to do with the value of ASICMINER. It only determines the supply of BTC that could possibly be spent to buy shares. The value of ASICMINER is in how much BTC can still be earned, which is less than 11 million BTC.

[hammurabi]

ASICMiner market cap =
BTC 864,000   (@ btc 2.16/share)
$105,408,000   (@ $122 btc/usd)

Yet bitcoin's market cap =
11,175,575 (bitcoins mined)
$1,363,420,150 (@ $122 btc/usd)

and ASICMiner =
33% of total hash rate

yet ASICMiner currently trades at =
12% of of bitcoin market cap

without issuing dividends ASICMiner should trade at =
33% of bitcoin market cap

this puts the share price at =
BTC 5.94

and this represents a =
275% price increase from today's prices

ASICMiner does issue dividends making the shares more attractive than holding bitcoins and would logically trade at a premium to its network value (the % it contributes to the bitcoin network)

ASICMiner shares are very cheap.

Disclaimer: stslimited is long ASICMiner.

feel free to repost, and discuss this pricing analysis.

Ok, I will do the heavy math for you
21.000.000 btc - 11.000.000 btc = 10 more millions to mine. (total coins minus already mined coins).
10.000.000 btc / 400.000 pcs  = 25 BTC per share (if we mine 100% of it).

So, number of coins yet to be mined per share is:
2.5 btc if we maintain 10%
6.25 btc if we maintain 25%
12.50 btc if we hit 50%
25 btc if we somehow hit 100%

+ profit from hardware and technology
+ transaction fees
+ namecoin sales

I also believe that data center with cheap power will be worth something eventually.

[Maciek]

So, number of coins yet to be mined per share is:
2.5 btc if we maintain 10%
6.25 btc if we maintain 25%
12.50 btc if we hit 50%
25 btc if we somehow hit 100%

+ profit from hardware and technology
+ transaction fees
+ namecoin sales

I also believe that data center with cheap power will be worth something eventually.

The amount of BTC already mined has nothing to do with the value of ASICMINER. It only determines the supply of BTC that could possibly be spent to buy shares. The value of ASICMINER is in how much BTC can still be earned, which is less than 11 million BTC.

What about tx fees? We do earn the fees... don't we?
And what about all those Blades and ASIC USBs for sale - we do earn on them, don't we?

[hammurabi]

+ profit from hardware and technology
+ transaction fees
+ namecoin sales

I also believe that data center with cheap power will be worth something eventually.

What about tx fees? We do earn the fees... don't we?
And what about all those Blades and ASIC USBs for sale - we do earn on them, don't we?

+ profit from hardware and technology      <= yes, we do earn on selling them.
+ transaction fees                                  <= yes, we do earn these as well.

[stslimited]

ASICMiner market cap =
BTC 864,000   (@ btc 2.16/share)
$105,408,000   (@ $122 btc/usd)

Yet bitcoin's market cap =
11,175,575 (bitcoins mined)
$1,363,420,150 (@ $122 btc/usd)

and ASICMiner =
33% of total hash rate

yet ASICMiner currently trades at =
12% of of bitcoin market cap

without issuing dividends ASICMiner should trade at =
33% of bitcoin market cap

this puts the share price at =
BTC 5.94

and this represents a =
275% price increase from today's prices

ASICMiner does issue dividends making the shares more attractive than holding bitcoins and would logically trade at a premium to its network value (the % it contributes to the bitcoin network)

ASICMiner shares are very cheap.

Disclaimer: stslimited is long ASICMiner.

feel free to repost, and discuss this pricing analysis.

Ok, I will do the heavy math for you
21.000.000 btc - 11.000.000 btc = 10 more millions to mine. (total coins minus already mined coins).
10.000.000 btc / 400.000 pcs  = 25 BTC per share (if we mine 100% of it).

So, number of coins yet to be mined per share is:
2.5 btc if we maintain 10%
6.25 btc if we maintain 25%
12.50 btc if we hit 50%
25 btc if we somehow hit 100%

+ profit from hardware and technology
+ transaction fees
+ namecoin sales

I also believe that data center with cheap power will be worth something eventually.

yeah friedcat is never going near 50% though, I think 40-45% will be his cutoff

[Mausini]

I am pretty chilled. I did not attack friedcat at all. I do agree with everything above, and never stated anything contrary.
Maybe you should all calm down. As soon as somebody states a little hint against your cash cow, you freak out.
Btw I am all in. But you are just mongos...
Friedcat, please answer my questions.

I think everyone who responded was pretty nice to you, and we get called names in return. OK

Maybe I got carried away because I got just a few shares and a very small *****. Sorry. Peace.

It's fine to have lively discussions.  We are all learning.  It's part of the process.  

FYI.  Real companies registered with SEC, are required to file 10K and 10Q reports.  It's the annual and quarterly reports respectively.  It's unusual to have weekly or even monthly updates.  With that said, there has to be an optimal update frequency because Bitcoin economy is like the unexplored territory.  Taking time away from manufacturing products or mining doesn't generate revenue.  However, without knowing the overall financial status can make it difficult to make strategic decisions internally (for Friedcat) and externally (for share holders).  It's a delicate balancing act.

And for the record, if you want more info, you are looking for a board seat. That's 5000 shares (roughly one million USD).

[ionstorm]

Havelock is getting closer to a board seat, doing quite well today, hope to see 5000+ full shares sold, itll even be more profitable with their own blade

[aahzmundus]

Havelock is getting closer to a board seat, doing quite well today, hope to see 5000+ full shares sold, itll even be more profitable with their own blade

Have the other two PT's ever confirmed they got any of the board member benefits?  Not only that... but no board member has ever come out and said "Look at the free board I got!" sure... getting the 5k will be nice... but it will have no immediate benefit IMHO.

[ThickAsThieves]

Havelock is getting closer to a board seat, doing quite well today, hope to see 5000+ full shares sold, itll even be more profitable with their own blade

We're at about 1400 currently!

Board members, to my knowledge, have not received any tangible benefits yet.

[Mausini]

Havelock is getting closer to a board seat, doing quite well today, hope to see 5000+ full shares sold, itll even be more profitable with their own blade

We're at about 1400 currently!

Board members, to my knowledge, have not received any tangible benefits yet.

and they shouldnt

[aahzmundus]

Havelock is getting closer to a board seat, doing quite well today, hope to see 5000+ full shares sold, itll even be more profitable with their own blade

We're at about 1400 currently!

Board members, to my knowledge, have not received any tangible benefits yet.

and they shouldnt

I imagine you mostly feel that way... because you have no where near 5,000 shares.  Cant give the same benefits to just every person with 1 share... when some of those benefits are things that have a value far exceeding that of 1 share.

Why not give special benefits to those that risked a good amount of their money, and helped get friedcat those initial funds?

[ThickAsThieves]

Havelock is getting closer to a board seat, doing quite well today, hope to see 5000+ full shares sold, itll even be more profitable with their own blade

We're at about 1400 currently!

Board members, to my knowledge, have not received any tangible benefits yet.

and they shouldnt

What should or shouldn't be, is not for you to determine. Friedcat made some comments about giving board member a test board a while ago. Since there's not testing needed, it's unclear whether he will give board members any such "freebie". Maybe for gen-2?

Who knows, either way, I'd be proud to be a board member, freebies or not.

[Mausini]

I imagine you mostly feel that way... because you have no where near 5,000 shares.  Cant give the same benefits to just every person with 1 share... when some of those benefits are things that have a value far exceeding that of 1 share.

Why not give special benefits to those that risked a good amount of their money, and helped get friedcat those initial funds?

Why not? The question is not "why not?"! It's "why?". This has been discussed several times now. There is no good reason to give away presents. How many shares I own doesnt matter at all.

What should or shouldn't be, is not for you to determine. Friedcat made some comments about giving board member a test board a while ago. Since there's not testing needed, it's unclear whether he will give board members any such "freebie". Maybe for gen-2?

Who knows, either way, I'd be proud to be a board member, freebies or not.

Sure thing. If giving away boards is beneficial for shareholders, thats ok. E.g. Kano (if i remember correctly) got a usb miner for testing.

[stripykitteh]

In a properly run company, board members are there to counsel management, and to ask questions of management on behalf of shareholders. It is a duty.

There is nothing wrong with compensation for that duty in proportion to the service supplied. I think anyone with 5,000 shares has a pretty deep interest in AM reaching its full potential, which few outside the board and founders have fully grasped. I shudder (in a good way) to think what 5,000 shares could be worth in 5 years' time if friedcat and his team correctly execute the strategy they have mapped out. A few trinkets handed out won't make any difference to the big picture if the advice received makes AM even better.

[aahzmundus]

So, new topic of discussion...

What do we think dividends are going to be?  There is limited transparency on hardware sales now... so that is an issue.  We should get >0.01 from mining unless something drastic changes.  I believe a good number of coins were taken in from USB miner sales... not sure how many but I know the cap was 10,000 units @ 1.99.  Also... I wonder if any people decided to try and buy in on some bulk blades since friedcat decided on a price, I know a few people before in auctions were trying to get 20+ blades, but ended up getting outbid.

Thoughts?  Is there any hard numbers on these sales of blades and USB drives to be found elsewhere on the forums?

[stripykitteh]

So, new topic of discussion...

What do we think dividends are going to be?  There is limited transparency on hardware sales now... so that is an issue.  We should get >0.01 from mining unless something drastic changes.  I believe a good number of coins were taken in from USB miner sales... not sure how many but I know the cap was 10,000 units @ 1.99.  Also... I wonder if any people decided to try and buy in on some bulk blades since friedcat decided on a price, I know a few people before in auctions were trying to get 20+ blades, but ended up getting outbid.

Thoughts?  Is there any hard numbers on these sales of blades and USB drives to be found elsewhere on the forums?

I think this week might be the highest dividends we see for a while. Pent up demand for hardware will be at its highest over the next few weeks.

I notice that the blade sales page has over 10,000 page views, though how many sales that translates to I have no idea. I think someone with access to friedcat should tell him to tidy up the top post; it's misleading having multiple email addresses listed and mentioning PMs when there should only be one email address listed. I think that has confused some potential customers. A couple of people have said they emailed him days ago and haven't heard anything; perhaps they are trying the wrong methods of contact.

I had this weird thought today that if the btc:usd rate tumbled, hardware sales would actually go *up* as GPU miners see an opportunity to get an ASIC at a bargain price. The thought of all those Bitcoins rolling in made me swoon...

[ThickAsThieves]

So, new topic of discussion...

What do we think dividends are going to be?  There is limited transparency on hardware sales now... so that is an issue.  We should get >0.01 from mining unless something drastic changes.  I believe a good number of coins were taken in from USB miner sales... not sure how many but I know the cap was 10,000 units @ 1.99.  Also... I wonder if any people decided to try and buy in on some bulk blades since friedcat decided on a price, I know a few people before in auctions were trying to get 20+ blades, but ended up getting outbid.

Thoughts?  Is there any hard numbers on these sales of blades and USB drives to be found elsewhere on the forums?

No point in guessing, we'll have to just wait and see. Don't be surprised if Friedcat says he sold ALL the hardware but is keeping half the BTC earned to fund the next orders and plans.

[Dargumin]

I had this weird thought today that if the btc:usd rate tumbled, hardware sales would actually go *up* as GPU miners see an opportunity to get an ASIC at a bargain price. The thought of all those Bitcoins rolling in made me swoon...

Surely this would be counteracted by people panic selling asicminer shares so they could cash out of bitcoin?
If not then I guess it's undevalued even at BTC5 per share lol