ASICMINER: Entering the Future of ASIC Mining by Inventing It

[thecodyshow]

has bitfunder still not paid dividends? Why are they behind BTCT?

[g83]

bitfunder is always paying out 1 - 2 days later...

[thecodyshow]

bitfunder is always paying out 1 - 2 days later...

if thats the case i cant believe bitfunder prices are cheaper than btct right now since you are also snagging this weeks dividend if you buy. Usually prices are pretty darn close!

[g83]

then go and buy some more as fast as you can :-)

[thecodyshow]

then go and buy some more as fast as you can :-)

waiting for the darn 6 confirmations like usual lol. hopefully I make it in time!

[Factory]

OFFICIAL RESPONSE FROM FRIEDCAT

They will arrive at October as their earliest. The specs are unknown (only simulation results at this moment), but surely they will be much better than all available similar products in the market now.

Thank you TAT for including this question to ask FC. As I stated earlier in this thread, I believe 2nd generation chips are going to be a major catalyst for the company.

This is much sooner than I was expecting to hear. Conservatively, I think it makes sense to anticipate them within the first fiscal quarter of 2014. That is still way ahead of any previous projections.

For one, these improved chips will help perpetuate hardware sales in the future. Many of us estimated that USB and blade sales would slowly diminish and that income from sales would drastically drop off eventually.

Second, 2nd generation chips will help ASICMINER maintain a certain portion of the network in the future. Chips with highly improved efficiency will mean less space, less electricity, and an overall reduction in costs. This will help the company battle the law of large numbers as it continues to expand mining efforts.

[Aureum_Coffee]

If China were to crack down on the fabrication of mining equipment that would affect everyone.

Avalon also has their chips built in Shenzen and BFL's chips surely aren't Made in the USA^TM.  

It might even make mining with GPU's lucrative again if ASICMINER weren't around anymore and Avalon and BFL and all the other ASIC companies couldn't source their chips from China.

But I don't see that happening. So I'm not worried about it.  

FYI.  Avalon chips are built by TSMC.

[Smidge]

Shares at 2.7 now. Very nice

[boyohi]

Friedcat,

A team of us shareholders has taken the time to collect and simplify the most popular questions people have for you and ASICMINER. I am sending these questions to you at Jutarul's suggestion, and on behalf of all ASICMINER shareholders that took our poll.

I am only going to send 3 questions to you, in order to keep things simple, and to hopefully maintain this line of communication in the future. We understand that you might not be able to fully answer some things due to competition, but any amount of info will be plenty for us!

If you can take the time to answer, feel free to post your answers in your main ASICMINER thread, or respond to me directly and I will copy your answers verbatim.

Thank you so much for your consideration, here are the questions:

1. Can you tell us more about the next generation of ASIC chips? When should we expect them, and what specs might they achieve?

2. Does ASICMINER/Bitfountain have any legal risks by doing business in China? Are cryptocurrencies or mining of virtual currencies allowed there?

3. What contingency plan do you have in place if Friedcat or other important employees become seriously ill or otherwise unavailable as a resource to ASICMINER?

OFFICIAL RESPONSE FROM FRIEDCAT

Hi ThickAsThieves,

1. They will arrive at October as their earliest. The specs are unknown (only simulation results at this moment), but surely they will be much better than all available similar products in the market now.

2. Cryptocurrencies or mining of virtual currencies are OK. Exchanging them for fiat is less OK but the legal risk is mostly on the exchange operators' side. However as everyone knows, the policy in China is never predictable so there is indeed risks in the future. We have been considering and coping with this uncertainty from the day our chips passed the test and are on the start of building offshore company structures.

3. The access to company wallet is backed up and we back up shareholder information frequently. Also the division of work in Bitfountain is not yet so refined that there are no replaceable positions. We have already left our startup stage so it's become more organized, therefore backup employees are becoming more important and in our range of plan.

Best regards,

friedcat

great news from friedcat.
Cat Rich or Fry Trying

[EskimoBob]

Maybe it's time for ASICMINER financial statements? Profit and loss statement, balance sheet and cash flow statement will do.
This will save us all from later surprises and we can actually find out, what we invested our coin to

Cheers and keep up the excellent work.

[canth]

...

hey bear prices wont go down again. we get it BFL went from imaginary to a single board shipped poorly. Still not even on our competition radar.

I don't disagree that BFL isn't an immediate concern. FYI, I'm not bearish - I'm long on the stock, just like most of us. I rather hope it'll take a dip so I could buy some more, but with the way they've been executing that doesn't seem likely.

[hammurabi]

Head's up:  https://forums.butterflylabs.com/announcements/3214-first-single-sc-60gh-s-has-left-building.html

Invalid Thread specified...

Just me? If so, could someone quote it//message it to me?

Thanks

Maybe they didnt like me sharing the link?!

FYI link is working again. I rather dislike hijacking threads, but since we are talking about competition, BFL seems to be (finally) starting up, albeit rather weakly.

https://forums.butterflylabs.com/announcements/3214-first-single-sc-60gh-s-has-left-building.html

hey bear prices wont go down again. we get it BFL went from imaginary to a single board shipped poorly. Still not even on our competition radar.

[joke]

Even wonder why first unit has 1337 as serial number?!
Former 1336 units won't even boot

[Maciek]

I'm interested in buying ASIC BLADE 12gh/s for 49.99 BTC and I'm waiting 5th day with no reply.

I'm a shareholder too...

EDIT:
I wrote with a small and polite question to DeaDTerra and ThickAsThieves. As I consider them big and important shareholders... I know that friedcat & team are busy. But there are some customers waiting to pay you, guys

[saveawedge]

I'm interested in buying ASIC BLADE 12gh/s for 49.99 BTC and I'm waiting 5th day with no reply.

I'm a shareholder too...

There seems to be a lot of reports like this. It seems very strange - friedcat and team have excelled in every other area; they have been quick to update us with information, and from my experience, share transfers have been exceptionally fast. I wonder why they are taking such time getting back to potential customers?

[kokojie]

BTC3 here we come

[talnted]

Friedcat,

A team of us shareholders has taken the time to collect and simplify the most popular questions people have for you and ASICMINER. I am sending these questions to you at Jutarul's suggestion, and on behalf of all ASICMINER shareholders that took our poll.

I am only going to send 3 questions to you, in order to keep things simple, and to hopefully maintain this line of communication in the future. We understand that you might not be able to fully answer some things due to competition, but any amount of info will be plenty for us!

If you can take the time to answer, feel free to post your answers in your main ASICMINER thread, or respond to me directly and I will copy your answers verbatim.

Thank you so much for your consideration, here are the questions:

1. Can you tell us more about the next generation of ASIC chips? When should we expect them, and what specs might they achieve?

2. Does ASICMINER/Bitfountain have any legal risks by doing business in China? Are cryptocurrencies or mining of virtual currencies allowed there?

3. What contingency plan do you have in place if Friedcat or other important employees become seriously ill or otherwise unavailable as a resource to ASICMINER?

OFFICIAL RESPONSE FROM FRIEDCAT

Hi ThickAsThieves,

1. They will arrive at October as their earliest. The specs are unknown (only simulation results at this moment), but surely they will be much better than all available similar products in the market now.

2. Cryptocurrencies or mining of virtual currencies are OK. Exchanging them for fiat is less OK but the legal risk is mostly on the exchange operators' side. However as everyone knows, the policy in China is never predictable so there is indeed risks in the future. We have been considering and coping with this uncertainty from the day our chips passed the test and are on the start of building offshore company structures.

3. The access to company wallet is backed up and we back up shareholder information frequently. Also the division of work in Bitfountain is not yet so refined that there are no replaceable positions. We have already left our startup stage so it's become more organized, therefore backup employees are becoming more important and in our range of plan.

Best regards,

friedcat

Awesome job at organizing this TAT, and excellent news from Friedcat!

[Vycid]

The interest in ASICMiner options still seems pretty limited, so I wanted to restate this offer here:

I will immediately purchase ASICMiner puts expiring in 90 days, with a strike of 1.8BTC, and a premium of 0.14BTC. BTCT preferred.


3 BTC limit.

With the share price near 2.75, I think you'll find this is a pretty attractive bargain.

(If you have to ask what a put is, please do not sell any to me! Valuing options is very difficult)

[freedomno1]

To be honest it's like watching a dam burst no idea when the flow stops

[Fabrizio89]

I think friedcat should keep 1-1,5% of direct shares amount he transfers from a user to another, and keep these money for the company not including them in dividends of course. Passthroughs charge a fee, he should do the same, since he has to do that manually. This way the company will benefit more from an increase in share price.

[freedomno1]

I think friedcat should keep 1-1,5% of direct shares amount he transfers from a user to another, and keep these money for the company. Passthroughs charge a fee, he should do the same, since he has to do that manually. This way the company will benefit more from an increase in share price.

They have ample reserves we asked that question a while back