ASICMINER: Entering the Future of ASIC Mining by Inventing It

[bobboooiie]

It's nothing new, he has been selling G.ASICMiner-PT for a few weeks...they had ~4130 shares, 2800 left.  
Closing down 'Gamma' fund.

No FUD to spread here sorry.

Wait, what happens to poeple who have PT`s from them ? Am I still gonna be able to trade and who is gonna provide liqudity for market ?

[1715380268]

1715380268

[CMMPro]

It's all on Bitfunder....the G.ASICMINER-PT isn't going anywhere.

He closed an older fund that held a shitload of G.ASICMINER-PT (4130 shares).
That fund had a lot of people left in the negative, and he did an amazing standup job of making money with the remaining shares and getting everyone their investments back instead of being at a huge loss.

DeaDTerra is practically a Bitcointalk hero for what he did for those shareholders.

[iCEBREAKER]

Solo mining provides

1) No operator fees
2) All transaction fees (which have been consistently rising since Bitcoin started)
3) Less risk from pool owner trust
4) Less risk from pool downtime and DDOS attacks

At a cost of
1) More variance (who cares when you have significant hash power)

and
2) No merged mining.  This is important because, according to Dustcoin, Namecoin currently adds 6.42% (BTC60.6 or $7410.17 a day) to 21TH of mining.

That's not chump change; perhaps Friedcat can buy merged mining software from Dr. Haribo or doublec. 

[philipma1957]

Solo mining provides

1) No operator fees
2) All transaction fees (which have been consistently rising since Bitcoin started)
3) Less risk from pool owner trust
4) Less risk from pool downtime and DDOS attacks

At a cost of
1) More variance (who cares when you have significant hash power)

and
2) No merged mining.  This is important because, according to Dustcoin, Namecoin currently adds 6.42% (BTC60.6 or $7410.17 a day) to 21TH of mining.

That's not chump change; perhaps Friedcat can buy merged mining software from Dr. Haribo or doublec. 

  good point they could also fund dr haribo to a better server and hash more on bit minter

[romerun]

This is a noob question...

How does transfer of shares happen? I understand the owners of shares are in your database, but how can I see when someone transferred shares to another owner, me?

The current share owner contacts asicminer staff to request the change of ownership providing the bitcoin address and contact email for the new owner.

who is asicminer staff

[matt4054]

2) No merged mining.  This is important because, according to Dustcoin, Namecoin currently adds 6.42% (BTC60.6 or $7410.17 a day) to 21TH of mining.

That's not chump change; perhaps Friedcat can buy merged mining software from Dr. Haribo or doublec.  

True. OTOH I don't think this income would have been sustainable in the long run. NMC is deemed to stay a niche for alt-coiners until real applications start making use of it (i.e. the idea behind .bit at the time)

[conv3rsion]

Solo mining provides

1) No operator fees
2) All transaction fees (which have been consistently rising since Bitcoin started)
3) Less risk from pool owner trust
4) Less risk from pool downtime and DDOS attacks

At a cost of
1) More variance (who cares when you have significant hash power)

and
2) No merged mining.  This is important because, according to Dustcoin, Namecoin currently adds 6.42% (BTC60.6 or $7410.17 a day) to 21TH of mining.

That's not chump change; perhaps Friedcat can buy merged mining software from Dr. Haribo or doublec.  

ASICMiner cannot merge mine will all 21TH or it will destroy the alt coins, both in terms of theri network hash rate (exceeding 51%) and in terms of exchange value (thats a lot of coins now being insta sold). So yes, a portion could go to DEVcoin and IXcoin, and namecoin, but not all or even most of it.

In other words, its not going to be +6.42%

It might be something to explore, but right now I think Friedcat has much more profitable optimizations and expansions to pursue.

[JamesTaylor]

Can some1 explain why is it going to be useful to know ASICMiner mining hashrate? I guess only curiosity.

[conv3rsion]

Can some1 explain why is it going to be useful to know ASICMiner mining hashrate? I guess only curiosity.

Helps to estimate expected dividends, or at least the portion that comes from mining and not sales.
Helps to verify that ASICMiner is currently mining at the rate they claim to, which builds confidence

[gog1]

Agree in that there are other optimization to do,

NMC / BTC dropped a lot after ASICMINER shows up in bitminter.

Solo mining provides

1) No operator fees
2) All transaction fees (which have been consistently rising since Bitcoin started)
3) Less risk from pool owner trust
4) Less risk from pool downtime and DDOS attacks

At a cost of
1) More variance (who cares when you have significant hash power)

and
2) No merged mining.  This is important because, according to Dustcoin, Namecoin currently adds 6.42% (BTC60.6 or $7410.17 a day) to 21TH of mining.

That's not chump change; perhaps Friedcat can buy merged mining software from Dr. Haribo or doublec.  

ASICMiner cannot merge mine will all 21TH or it will destroy the alt coins, both in terms of theri network hash rate (exceeding 51%) and in terms of exchange value (thats a lot of coins now being insta sold). So yes, a portion could go to DEVcoin and IXcoin, and namecoin, but not all or even most of it.

In other words, its not going to be +6.42%

It might be something to explore, but right now I think Friedcat has much more profitable optimizations and expansions to pursue.

[stripykitteh]

Can some1 explain why is it going to be useful to know ASICMiner mining hashrate? I guess only curiosity.

Helps to estimate expected dividends, or at least the portion that comes from mining and not sales.
Helps to verify that ASICMiner is currently mining at the rate they claim to, which builds confidence

I don't disagree with you entirely, and I could be wrong about this but I'm coming to the conclusion that it won't matter too much deducing what the hash rate is as:

- AM have no incentive to publicize it
- solo hash rate will change all the time anyway
- earnings from solo mining are what matters, not hash rate

Tied up in that are some assumptions about cost of manufacture and operation; however if we assume that they are both fairly low we can just come up with an estimate to turn revenue from solo mining into earnings. Shareholders are just used to being able to assess their expected income from hash rate because the pool stats are visible.

I am suggesting that while it would be nice to know the solo hash rate, I don't think it matters that much as the blockchain will tell us what solo revenue is anyway and we can deduce earnings from that.

Prediction: when gen-2 ASICs arrive, they will be deployed to solo mining operations first. Information about this will initially be confidential, perhaps for several months. Public pools will continue to add legacy gen-1 hardware until it is all deployed/sold. When gen-2 ASICs are being manufactured in volume the old gen-1 kit will be sold off cheaply. Then gen-2 kit will start to appear in pools, then it will be offered to the public. Rinse, lather, repeat.

[matt4054]

And here's another solo AM block at 237135. I wonder how much % is now solo mining.

In other news, we're about to break 2.3+ on BTC-TC. That's insane IMHO but it feels good for the portfolio :-)

EDIT: here we are, it just traded at 2.35

[Franktank]

Dear god, 2.499/share... People must know something I don't...

Edit: 2.5/share!!! Holy cow!!

[matt4054]

Dear god, 2.499/share... People must know something I don't...

Edit: 2.5/share!!! Holy cow!!

Yes it's unbelievable... The 10 sell orders @2.49 are mine, I love AM but here there's a bargain to be made ;-)

[Streets 2.0]

Dear god, 2.499/share... People must know something I don't...

Edit: 2.5/share!!! Holy cow!!

Yes it's unbelievable... The 10 sell orders @2.49 are mine, I love AM but here there's a bargain to be made ;-)

Don't sell Matt..... bad idea!!!! 

[freedomno1]

Always a hot commodity guess the calculation to the board seat is getting closer causing some frenzy
Either that or the solo mining
Ha-ha this is becoming a speculator troll box

[matt4054]

Don't sell Matt..... bad idea!!!! 

Well I just clicked cancel, the sell side of the order book was building up above my ask anyway.
I wanted to buy the 10 shares back anyway (below $2/share), let's be clear about this.

But seriously, do you think the stock price is going above 2.5 for a long time? How sustainable is that price?

[ionstorm]

if you sell there, buy them back on havelock at .0200 a share  make .0030/share profit

[ionstorm]

if you sell there, buy them back on havelock at .0200 a share  make .0030/share profit

not many people know about asicminer just yet, as people learn more about it, and how it can be more profitable to hold asicminer shares than wait on an asic, the shares should rise, dividends might be low this week because of btcguild having issues, but the solo mining may however make up for that small amount of time, it looks like there is plenty of demand, so prices should be stable and continue to rise, anyone else care to explain it better than me?

[Bitcycle]

I love AM too, but 2.5 feels crazy at this point.   Considering selling some off.