ASICMINER: Entering the Future of ASIC Mining by Inventing It

[sleger]

I wouldnt feel good with AM accepting credit card payments. Thats way too risky. Similar to getting paid with paypal.

So all the websites that accept credit cards are doomed and should immediately stop ? 

[ThickAsThieves]

I wouldnt feel good with AM accepting credit card payments. Thats way too risky. Similar to getting paid with paypal.

So all the websites that accept credit cards are doomed and should immediately stop ? 

No, but this is a BTC business and it is in all of our best interests that they only sell for BTC.

[bitfair]

I wouldnt feel good with AM accepting credit card payments. Thats way too risky. Similar to getting paid with paypal.

So all the websites that accept credit cards are doomed and should immediately stop ? 

No, but this is a BTC business and it is in all of our best interests that they only sell for BTC.

I kind of agree, but kind of disagree too.

Selling mining gear in traditional currencies might engage people who cannot get hold of BTC otherwise. Then again, selling for BTC grows the "bitcoin economy". In my opinion, one doesn't need to necessarily exclude the other, as long as risks are properly considered...

[sleger]

I wouldnt feel good with AM accepting credit card payments. Thats way too risky. Similar to getting paid with paypal.

So all the websites that accept credit cards are doomed and should immediately stop ? 

No, but this is a BTC business and it is in all of our best interests that they only sell for BTC.

I kind of agree, but kind of disagree too.

Selling mining gear in traditional currencies might engage people who cannot get hold of BTC otherwise. Then again, selling for BTC grows the "bitcoin economy". In my opinion, one doesn't need to necessarily exclude the other, as long as risks are properly considered...

+1 was going to reply something along those lines. Best way to get into bitcoins : buy miner for fiat then mine bitcoins

[miTgiB]

I wouldnt feel good with AM accepting credit card payments. Thats way too risky. Similar to getting paid with paypal.

So all the websites that accept credit cards are doomed and should immediately stop ? 

No, but this is a BTC business and it is in all of our best interests that they only sell for BTC.

I kind of agree, but kind of disagree too.

Selling mining gear in traditional currencies might engage people who cannot get hold of BTC otherwise. Then again, selling for BTC grows the "bitcoin economy". In my opinion, one doesn't need to necessarily exclude the other, as long as risks are properly considered...

I tend to agree taking whatever you can to make the sale is the right course, and PayPal is far less risky than credit cards.  These are physical products being shipped via trackable shippers, so no disputes would be lost.

[Lohoris]

• "Which is ASICMINER's bus factor?"

His post history indicates the answer is: 3.

I've looked over friedcat's history and didn't see anything that indicated that.  Do you have any specific posts that provided that information?

According to this post (July 3, 2012) there are three founders:

"We" the founders are three people at this moment. One of the partner has been working on the hardware section of a general purpose CPU design group. The other one has been working on the software section of a embedded-system-oriented CPU group but is heavily involved in the front-end of hardware design.

So we have the ASIC experience, but in different larger projects, and as smaller roles than, say, "they are made by just us".

My assumption is that having three founders means that the business would be able to continue even in the absence of a single person. Whether or not that satisfies an arbitrary person's request for an explicitly stated "bus factor" is up to them, I am at least happy with this statement together with my assumption.

It satisfies the requirement only if any single one of those people would be able to put the business back up with new partners, i.e. he had all the keys, accesses, and know-how to do it.
Otherwise it's still 1.

[philipma1957]

Not to attack AM and the pricing strategy for the usb sticks but I think the item is mispriced.

BFL the company that has made all  buyers hate them  due to long delays is really shipping Jalapenos' the new piece of gear is offering 7Gh for about 3.2BTC and 5Gh for about 2.5BTC.

      these usb  sticks would be 6btc for 1gh of hash   that price is too high.  


1 simple item  5 sticks with a powered usb hub the 10 unit hub Should be what is offered.  with one upgrade to 10 sticks.  current price would be 10BTC for the 5 stick unit and 20 BTC for the 10 stick unit.

Just lower the price  to  6BTC for a five usb stick on a 10 hub  and 11BTC for a ten usb stick on a 10 hub they will fly out the door.  you get a 1.6Gh or a 3.2Gh hash machine fast and at a good price.

 Since these could be sold and shipped fast with almost no delay we could sell them out quickly.. are there not 10,000 sticks of which only a few thousand sold.  Selling a bigger unit helps with shipping cost since the amount paid is higher.

 I still maintain that f cat could sell direct from China on ebay.  we have lots of hong kong sellers on usa ebay.


Just a thought  hey I can buy hd7790's at half the price of the usb sticks I have spare slots and I still believe this high price selling of the usb sticks is wrong.  Now that BFL has more then 75 Jally's shipped at a far lower price .  What  if they move out  more  let us say  a few hundred  move out next week.  Then  the usb sticks will suffer more  at the current sales pricing.   People will think a bfl jally is 5gh that is  the same as 16 usb sticks.  the jally goes  for only 2.5btc the 16 sticks are 32 btc .  Now BFL has shipped a few hundred of them maybe I should buy BFL.

I would not be complaining but f cat had to drop the last buy from 300units  to 50 units  to get it to sell.

[nousfeed]

Ill help with any marketing initiative to help ASICMINER sell more product.
I have a pretty wide skill set so I'm sure I could fit in somewhere. Send a Pm TAT i think its a good idea.

[puck2]

OK, I'm generally a patient guy, but any word from friedcat? Can any board members throw some crumbs to us plebs? Thx.

[nexus 6]

But then again... friedcat and team most probably will work hard all day. Spending time on secondary things will most probably draw workpower from things that can raise the dividend even higher.

Well, in my view, thats not a secondary thing.  I can argue some reasons:

1- The most important part of last dividends (if i am not wrong, 2/3) has been hardware selling income.  At this point, we can stat that ASICMINER is mainly a hardware selling enterprise, not a mining one.  However, havent got the best tools to make the sells.

2- Competitors are coming.  Now could be easy to sell hardware, but much harder in the future. Beeing the best seller could be as important as beeing the best miner or the best guy making chips.

3- Setting up a good sales channel is surely easier and faster than manage a ton of blades. 30 th = 3.000 blades? I can imagine how hard is deploy and manage 3000 blades. Now, lets sum 12+50+200 th.  What about mantain 10% of the network when the network scale orders of magnitude? datacenters, wires, deployment, cooling, electricity and all the issues...  

4- But in any case, what i proposed (only a first step) its the simplest and less time-spending solution: run an advertising campaign in the forum.  Almost for test the results.

ASICMINER is the best investment i have done in my lifetime. I have tell my friends about Friedcat, so im a big fan. I wish ASICMINER success, and i guess that success is related with having a good sales channel and having good sales and marketing tools

[binaryFate]

But then again... friedcat and team most probably will work hard all day. Spending time on secondary things will most probably draw workpower from things that can raise the dividend even higher.

Command, a campain and/or website is a one-person full time job at most, and we're speaking about a multi-million company now, not just three guys doing everything from A to Z in their garage! So try to put things in context.

[delaria]

Reiterating my previous offer with better conditions :

I am swapping 3 Avalon units (1xbatch#1,2xbatch#2) with 500 ASICMINER-PT full shares. Anyone up for it ?
My batch 1 already paid out about 150 btc and i'm currently mining at about 0.215 Terahash/sec, getting 8.15 bitcoin daily.
According to my calculations and what i've gathered from other sources, these units should be able to mine at least 400/500 btc roughly before the difficulty goes through the roof.
Looking for constructive criticism, and offers if there are any. People interested can also PM me. Units would be available for local pickup in Europe or an escrow with a hero member of your choice.

Edit : offer reduced to 450 shares

Cheers
Delaria

[JSMill]

Any predictions for tomorrow's dividend?

[DiabloD3]

Any predictions for tomorrow's dividend?

Over 9000.

[ianp]

Any predictions for tomorrow's dividend?

I'm curious as to when AM is going to withhold additional dividends for future growth.

I know they did this some in April (?), but I do not know how much.

I'm rather new to the AM game.

Ian

[bitfair]

(...) we're speaking about a multi-million company now, not just three guys doing everything from A to Z in their garage! (...)

Does one actually exclude the other?

And does anyone know if there are any employees, or if there are just the three founders? I mean, what they have managed is pretty impressive, and there are good reasons to keep the ship tight and not incur too much overhead if it can be avoided.

[ning]

Reiterating my previous offer with better conditions :

I am swapping 3 Avalon units (1xbatch#1,2xbatch#2) with 500 ASICMINER-PT full shares. Anyone up for it ?
My batch 1 already paid out about 150 btc and i'm currently mining at about 0.215 Terahash/sec, getting 8.15 bitcoin daily.
According to my calculations and what i've gathered from other sources, these units should be able to mine at least 400/500 btc roughly before the difficulty goes through the roof.
Looking for constructive criticism, and offers if there are any. People interested can also PM me. Units would be available for local pickup in Europe or an escrow with a hero member of your choice.

Cheers
Delaria

What's the market value of the three units (1xbatch#1,2xbatch#2)?

[delaria]

Reiterating my previous offer with better conditions :

I am swapping 3 Avalon units (1xbatch#1,2xbatch#2) with 500 ASICMINER-PT full shares. Anyone up for it ?
My batch 1 already paid out about 150 btc and i'm currently mining at about 0.215 Terahash/sec, getting 8.15 bitcoin daily.
According to my calculations and what i've gathered from other sources, these units should be able to mine at least 400/500 btc roughly before the difficulty goes through the roof.
Looking for constructive criticism, and offers if there are any. People interested can also PM me. Units would be available for local pickup in Europe or an escrow with a hero member of your choice.

Cheers
Delaria

What's the market value of the three units (1xbatch#1,2xbatch#2)?

Market value maybe around 250 btc / unit right now, but on eBay they are going for much more. I'll have to resort to ebay that shitty site if no one takes the offer.  

[Franktank]

Reiterating my previous offer with better conditions :

I am swapping 3 Avalon units (1xbatch#1,2xbatch#2) with 500 ASICMINER-PT full shares. Anyone up for it ?
My batch 1 already paid out about 150 btc and i'm currently mining at about 0.215 Terahash/sec, getting 8.15 bitcoin daily.
According to my calculations and what i've gathered from other sources, these units should be able to mine at least 400/500 btc roughly before the difficulty goes through the roof.
Looking for constructive criticism, and offers if there are any. People interested can also PM me. Units would be available for local pickup in Europe or an escrow with a hero member of your choice.

Cheers
Delaria

I really do hope you find someone to trade for yor devices and soon. People are staring to realize just part of the potential of AM shares. Because if you're buying into AM shares, you're buying a percentage of all mined AM blocks for the next couple years.

I am very bullish towards AM right now because hardware right now seem like mining bonds (diminishing returns), whereas ASICMiner is a sustained, scaling source of income (barring Armageddon/govt intervention). The only way Avalon/BFL could match is to send a module every couple of months to upgrade hardware. (flawed analogy but you get the idea). Plus you get a cut of profit from hardware sales, pretty sure Avalon/BFL isn't doing that.

[delaria]

Reiterating my previous offer with better conditions :

I am swapping 3 Avalon units (1xbatch#1,2xbatch#2) with 500 ASICMINER-PT full shares. Anyone up for it ?
My batch 1 already paid out about 150 btc and i'm currently mining at about 0.215 Terahash/sec, getting 8.15 bitcoin daily.
According to my calculations and what i've gathered from other sources, these units should be able to mine at least 400/500 btc roughly before the difficulty goes through the roof.
Looking for constructive criticism, and offers if there are any. People interested can also PM me. Units would be available for local pickup in Europe or an escrow with a hero member of your choice.

Cheers
Delaria

I really do hope you find someone to trade for yor devices and soon. Peopl are staring to realize just part of the potential of AM shares. Because if you're buying into AM shares, you're buying a percentage of all mined AM blocks for the next couple years.

I am very biased towards AM right now because hardware right now seem like mining bonds (diminishing returns), whereas ASICMiner is a sustained, scaling source of income (barring Armageddon/govt intervention). The only way Avalon/BFL could match is to send a module every couple of months to upgrade your hardware. (flawed analogy but you get the idea). Plus you get a cut of profit from hardware sales, pretty sure Avalon/BFL isn't doing that.

Thank you, but don't forget that the AM share price can go down as well, and there are a ton of other risks to consider, primarily rampant competition ( in the long term i believe serious ASIC operations will see the light ), plus you can invest (wisely) the proceeds of mining into buying new hardware, possibly bulk Avalon chips, and get them mounted, thus keeping up with the difficulty increase in the medium term.

EDIT For someone who already has got a bunch of shares purchased at lower price it might be a very good way to hedge