ASICMINER: Entering the Future of ASIC Mining by Inventing It

[ThickAsThieves]

1. The mining hardware leader doesn't need to compete on technology, it needs to compete on value.

With technological gaps comes value, that's why there is a consensus that it is so critical to jump quickly and properly on gen2.

That is still a matter of value nonetheless. If Product A costs 200% more, but Product B is only 20% less efficient, which do you choose?

[michaelGedi]

   As I see it AM has three 'weaknesses'  that they can't stop but can plan for;


1) China could decide to shut them down.  Friedcat has made statements of building more mining locations

2) A disaster could destroy the mining building (think western digital floods)  Friedcat has made statements that multiple mining plants will be built outside  of China.

3) BFL ,Avalon,   unknown ASIC co etc could build more gear faster and cheaper the AM.  Friedcat has made statements that new AM chips will come out in OCT.

  I bailed at 2.5 btc took profits of 30 btc.   I will  watch and wait for now.  I will also sell off all my pc's from my gpu farms.      I still think AM is selling sticks at an insanely high price along with blades.  The gear is selling and boosting dividends but I do not see how this can continue. BFL keeps shipping  gear out sooner or later  people will stop buying AM gear at the prices it sells for.  

What is break even for a stick 300 days?  

again with this?  Do we have to hear about how you think AM can't continue to succeed on a daily basis?  Ok, you sold out, great for you! Good luck with your future ventures, and I hope BFL does well for you.

Now, can we keep this discussion for current shareholders, please?

speaking for myself only, I appreciate hearing the other side of the story. Everyone is very happy with their investment in AM at this time, and that is what we hear a large amount of in this thread... in particular on dividend day.... speculating on what can happen in the future that might change this golden age is a worthwhile pursuit and can be helpful to rationalise the irrational excitement around the companies current success.

posts like philipma's can also help provide an understanding of those who have not bought AM products or shares for various reasons, or have been selling shares for various reasons.

lastly, if you read his points carefully, he countered each point with a note on Friedcat's stated plans to deal with the possible setbacks that could occur to affect AM's current success.

thanks

[michaelGedi]

also, thanks TAT et al for the FAQ message to Friedcat. I think this can work well and be mutually benficial for all parties. A lot of smart suggestions pop up in this thread and opinions of shareholders in this case I think can be of some value to Friedcat and team, as well as his responses giving us a clearer understanding of what the evolving operation is that we are involved in precisely and potentially bring more value to the company as a by product.

cheers

[freedomno1]

I agree divisive opinions are important it is always important to do your research when making an investment and asking good questions helps everyone make better decisions

I would also like to thank everyone who posted questions to be answered and those who answer them ask quite a few myself
I agree that a lot of smart suggestions do pop up in this thread and do add value for Friedcat and team.

[philipma1957]

   As I see it AM has three 'weaknesses'  that they can't stop but can plan for;


1) China could decide to shut them down.  Friedcat has made statements of building more mining locations

2) A disaster could destroy the mining building (think western digital floods)  Friedcat has made statements that multiple mining plants will be built outside  of China.

3) BFL ,Avalon,   unknown ASIC co etc could build more gear faster and cheaper the AM.  Friedcat has made statements that new AM chips will come out in OCT.

  I bailed at 2.5 btc took profits of 30 btc.   I will  watch and wait for now.  I will also sell off all my pc's from my gpu farms.      I still think AM is selling sticks at an insanely high price along with blades.  The gear is selling and boosting dividends but I do not see how this can continue. BFL keeps shipping  gear out sooner or later  people will stop buying AM gear at the prices it sells for.  

What is break even for a stick 300 days?  

again with this?  Do we have to hear about how you think AM can't continue to succeed on a daily basis?  Ok, you sold out, great for you! Good luck with your future ventures, and I hope BFL does well for you.

Now, can we keep this discussion for current shareholders, please?

speaking for myself only, I appreciate hearing the other side of the story. Everyone is very happy with their investment in AM at this time, and that is what we hear a large amount of in this thread... in particular on dividend day.... speculating on what can happen in the future that might change this golden age is a worthwhile pursuit and can be helpful to rationalise the irrational excitement around the companies current success.

posts like philipma's can also help provide an understanding of those who have not bought AM products or shares for various reasons, or have been selling shares for various reasons.

lastly, if you read his points carefully, he countered each point with a note on Friedcat's stated plans to deal with the possible setbacks that could occur to affect AM's current success.

thanks

thank you,

 I have more then once AM stated has been very good to me. As has btc in general .  I never looked to make Cadillac money  Chevy money was fine with me.  

Frankly I am not a bfl fan.  

 As of today I am mining with my gpus still making money. Waiting on BFL gear  and I took a flyer on two other things one cloudhashing.com  and two a group buy with a bitcoin talk member holding a 110Gh bit fury  and paying out to share holders. Why do these higher risk  moves.

The  bfl gear cost 6.5 coins the group buy cost 3 coins the  cloud hashing contract cost 6 coins  total of 15.5 coins.  My 30 coin profit from Am is now 14.5 coins.

 If all my flyers pan out I get 42gh hash power.  At a cost of  15.5 coins better yet I do no work for 18Gh just wait for the btc to roll in.  

Am  if all fails I am 14.5 coins ahed all profit.  . if I held my shares of AM purchased low .7 to .9 coins I made about 1.7 btc a share  I would be getting about .5 coins a week dividend . with all my money at risk.

 now I am getting 0 coins a week  with 14.5 profit and 13.6 buy in on the side lines,   so I have 28 coins just sitting no risk and I earn 0 if I stayed in I would have about 43 coins on the line earning .5 coins a week.

 well my up side is I start earning about 1 coin a week on July 1st from cloud hashing.

 on Aug 1 I start to earn 2.8 coins a week  from bfl .  


and on sept  I start to earn .6 coins from the group buy ....  all the while I have 28 no risk coins  while if I held Am I would have about 42-43 coins at risk.  

 I do not keep the up down value of coins in the calculation.  since in both cases of my guess vs holding AM that is a constant.  Here is the best thing if my play pans out I can buy back into AM since my play will out earn AM in the aug- nov time period.     

worst case Am whales and my play is bad but guess what I would still have made a profit.  that is the difference between gambling and investing.

[binaryFate]

Ok ok that's all good for you. Meaning nothing in general though.
Don't take it bad, but dude, you're such a pain to read 

[aahzmundus]

Diversification is good!  That is why now instead of just purchasing more and more Asicminer shares... I am now also purchasing Asicminer hardware!  Man do I love my new USB's I think I had a tear come to my eye the first time I saw the LED flash

[stripykitteh]

I enjoy reading your posts, philipma1957. I don't always agree 100% with you but I acknowledge that you try to explain your investing decisions, which is informative.

[JordanL]

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.

I agree with this. Perhaps they could find another trustworthy (or well-supervised) person to handle the share transfers, and pay for it with this fee. However I have no idea where they are at with their own automated exchange... it wouldn't surprise me if one of the next updates reveals that they have something ready or almost ready on that front.

[JordanL]

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  

I think he was talking about a "transfer fee" of 1-1.5% per transfer

This could actually add MORE work to Friedcat if you think about it... it would also drive more shares to the exchanges. I think eventually all the shares except board seats will end up on the PTs anyway.

Not mine.   

[crashoveride54902]

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  

I think he was talking about a "transfer fee" of 1-1.5% per transfer

This could actually add MORE work to Friedcat if you think about it... it would also drive more shares to the exchanges. I think eventually all the shares except board seats will end up on the PTs anyway.

Not mine.   

I'm actually trying to get them out of PT's but at 1 a month for free...going to take awhile...don't wanna spend .25btc fee for less then 50 xfer'd out

[Jere.Jones]

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  

I think he was talking about a "transfer fee" of 1-1.5% per transfer

This could actually add MORE work to Friedcat if you think about it... it would also drive more shares to the exchanges. I think eventually all the shares except board seats will end up on the PTs anyway.

Not mine.   

I'm actually trying to get them out of PT's but at 1 a month for free...going to take awhile...don't wanna spend .25btc fee for less then 50 xfer'd out

That doesn't mean 1 share a month, it means 1 transfer a month.  If you have 100 shares, you can transfer them all at once for free.  You don't have to take 100 months to transfer them out.

[stripykitteh]

I'm actually trying to get them out of PT's but at 1 a month for free...going to take awhile...don't wanna spend .25btc fee for less then 50 xfer'd out

Burnside lets you move as many PT shares as you want from btct.co back to friedcat once per month for free. I've done it.

[AMuppInTime]

I'm actually trying to get them out of PT's but at 1 a month for free...going to take awhile...don't wanna spend .25btc fee for less then 50 xfer'd out

Burnside lets you move as many PT shares as you want from btct.co back to friedcat once per month for free. I've done it.

Or you could move them IN as many times as desired - and have access to increase liquidity.

[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 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.

I agree with this. Perhaps they could find another trustworthy (or well-supervised) person to handle the share transfers, and pay for it with this fee. However I have no idea where they are at with their own automated exchange... it wouldn't surprise me if one of the next updates reveals that they have something ready or almost ready on that front.

Well there is still this list of questions we need to exhaust so
https://docs.google.com/forms/d/1KYOoPt3SvM9agj54eah4rl5MabqbGheWSBgHFgFgA0U/viewform?pli=1&edit_requested=true

[ianp]

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.

I agree with this. Perhaps they could find another trustworthy (or well-supervised) person to handle the share transfers, and pay for it with this fee. However I have no idea where they are at with their own automated exchange... it wouldn't surprise me if one of the next updates reveals that they have something ready or almost ready on that front.

Well there is still this list of questions we need to exhaust so
https://docs.google.com/forms/d/1KYOoPt3SvM9agj54eah4rl5MabqbGheWSBgHFgFgA0U/viewform?pli=1&edit_requested=true

Just so everyone's aware -- voting has ended. I've archived the results and we'll move on in a couple of weeks.

However, we are currently compiling a list for the community to vote on (~3 weeks'ish from now), and TAT will send them on to Friedcat (just like this round of questions.)

If you have questions you'd like considered for community voting, you can send them to me, ThickAsThieves, VJain or FrankTank. We will include some that didn't make the cut from the last round, I suspect.

Ian

[Pierre]

Shares seem to be selling well at 2.7 each now that the 2.5 wall is gone.

[lophie]

Shares seem to be selling well at 2.7 each now that the 2.5 wall is gone.

Planning on selling 12 shares for 3 btc each! Nothing less. The bull in me has spoken.

[Franktank]

Shares seem to be selling well at 2.7 each now that the 2.5 wall is gone.

Planning on selling 12 shares for 3 btc each! Nothing less. The bull in me has spoken.

Why are you going to sell AM shares for 3 BTC each when you know they're going to be worth 4? 

[VJain]

Shares seem to be selling well at 2.7 each now that the 2.5 wall is gone.

Planning on selling 12 shares for 3 btc each! Nothing less. The bull in me has spoken.

Why are you going to sell AM shares for 3 BTC each when you know they're going to be worth 4? 

What if BFL and avalon ship everything tomorrow? Shares would go down to 2BTC.

Profit is profit.