ASICMINER: Entering the Future of ASIC Mining by Inventing It

[KarmaShark]

Annnnnnnnnnnnnnnnnnnnnnnnd it's gone!

Wow that is crazy. Thought I could steal some cheap shares while most people are sleeping... but by the time my coins were confirmed it was gone. 

Wild West of Crypto, anything can and eventually will happen. I fought off sleep last night in an attempt to pick up some PT's under 2.7, purchased my last tranche right before I passed right the hell out. Woke up to this sight, not bad.


Not bad at all. Let the tsunami commence!

[michaelGedi]

hi guys, looking for the friedcat t-shirts... the black ones with the cat in the pan. I had the link in a tab somewhere but can't find it, and a quick search took me to this one which is not what I'm looking for:

https://bitcointalk.org/index.php?topic=232150.0

if anyone has the link to hand please let me know, PM is cool...

thanks

[HeRetiK]

on the other hand if every share would be worth 5 BTC, then the company would be worth pretty much 2 000 000 BTC, which is 17 percent of bitcoins in circulation, that would be a lot, some could say too much

There is nothing to fear if a company's worth is greater than all the currency in circulation.  "There was approximately $1.19 trillion in circulation as of June 5, 2013, of which $1.15 trillion was in Federal Reserve notes" according to the Federal Reserve: http://www.federalreserve.gov/faqs/currency_12773.htm.

The most valuable American company is, I believe, Exxon Mobil with a current enterprise value of $413 billion.

Exxon alone is therefore worth 34.7% of all US dollars outstanding.

And the enterprise value of the Dow 30 (again only 30 companies) is far greater than the total number of US dollars out there.

There will only ever be 21 million bitcoins. There is no upper limit on the value human beings can create when they apply their minds and bodies to creative, productive endeavours.  There is no direct correlation between a currency's supply and the value of an economy.  (It is only government manipulated variations in supply of currency that can have an impact in causing distortions in economies and thereby create temporary and unsustainable activities in an economy, but that is beside the main point of this message.)

This can be a tricky concept - for example, if ASICMINER became worth BTC22 million, would that be possible?  The answer is still yes.  Consider, the value of a share is the present value of its future dividends.  If the utilization of bitcoin reached a level where there was a high velocity of bitcoins such that the worldwide annual gross transaction value exceeded BTC10 billion, (roughly $1 trillion dollars at today's prices), then a .25% fee applied against that entire number would be worth BTC25 million bitcoin alone per year.  If Asicminer retained kits 25% share of mining, it would be able to pay an annual dividend of BTC6 million and would only need to trade at 4 times its dividend price (a dividend yield of 25%!) to have a value in excess of all the bitcoins in circulation.  I know we are very far away from having that volume of bitcoin transactions out there.  This is more intended as an exercise to show how it is possible for there to be things out there "more valuable than all the money in the world", even in monetary terms.  But it's also nice to dream of a day when there would be that kind of transaction volume on bitcoin.

IMHO what you are describing here is exactly one of the problems we have with the current system... creating value out of thin air. A bit of overevaluation is fine, because in the end some companies will succeed, some will fail and we're somewhat even. A classic zero-sum game. An excess of overevaluation however leads to bubbles leads to disasters.

Either way, I'd be very careful in comparing Fiat based enterprises with Bitcoin operations. Right now $413 billion are 34.7% of all USD outstanding, but given inflation it won't stay that way. The volume might increase, but it's always a run from inflation. With Bitcoin however, there's a point where it will stop. Right now there's new coins coming in, but come 50-100 years and there will be 21,000,000 BTC. End. Who knows how many USD will be out there by then? They will just keep coming and coming...

[🏰 TradeFortress 🏰]

Not if the Federal Reserve no longer exists and USD isn't used, which is not that unlikely when we're talking about 100 years.

[lophie]

This is all just making me wonder where MPoE-PR went to. . . . .

[JordanL]

Annnnnnnnnnnnnnnnnnnnnnnnd it's gone!

Wow that is crazy. Thought I could steal some cheap shares while most people are sleeping... but by the time my coins were confirmed it was gone. 

Wild West of Crypto, anything can and eventually will happen. I fought off sleep last night in an attempt to pick up some PT's under 2.7, purchased my last tranche right before I passed right the hell out. Woke up to this sight, not bad.


Not bad at all. Let the tsunami commence!

haha, I can totally relate. I grabbed 40 from Jutarul @ 2.5, and then another couple on BTC-TC at ~2.6. Sleep is for wimps. Like Lunch. 

hi guys, looking for the friedcat t-shirts... the black ones with the cat in the pan. I had the link in a tab somewhere but can't find it, and a quick search took me to this one which is not what I'm looking for:

https://bitcointalk.org/index.php?topic=232150.0

if anyone has the link to hand please let me know, PM is cool...

thanks

https://bitcointalk.org/index.php?topic=230843.0

[pikeadz]

Alright guys.  I bought 4 shares.  Fuck, I hope I don't regret this.  I remember when I could have bought them at .4... kicking myself, but I plan on being in it for the long term because these dividends are too good to pass up.  Nice to be in the club and to meet you all!

[JordanL]

This is all just making me wonder where MPoE-PR went to. . . . .

To my ignore list after his ignorant racist tirade. Too bad, he had some good things to say and was often dead on about scam/incomponent companies. He was one of my favorite posters actually. I guess the universities in Romania went to shit after the fall of the USSR, because he showed himself to be an ignorant fool with his complete lack of understanding of history and white supremacist nonsense.

[JordanL]

I hope the facilties are being taken care of by a good security team. Not to be a tinfoilhatter but the more success you have, the more enemies you make. Certain people would be very happy now if the AsicMiner hashing farm were to *accidentally* blow up.

This is not a bad question. In my head the two ASICMINERs datacenters are patrolled by PLA super-troopers, but we really have no idea. Obviously the team behind ASICMINER is more than component, so I'm sure they have thought long and hard about security, and have solid ways of protecing wallets. If everything were operating from a typical office/ datacenter, a bunch of guys with guns could take it over and steal the coins the day before dividends are sent... it would be a not-too-small fortune. At this point I am so impressed with and confident in ASICMINER/Bitfountain/friedcat, I'm sure that they they have a setup/plan for the wallets so that even the Triads have no chance of getting the jump on them.

[JordanL]

Alright guys.  I bought 4 shares.  Fuck, I hope I don't regret this.  I remember when I could have bought them at .4... kicking myself, but I plan on being in it for the long term because these dividends are too good to pass up.  Nice to be in the club and to meet you all!

Welcome to the new wealthy elite.    ;-)


Cheers.

[HeRetiK]

Not if the Federal Reserve no longer exists and USD isn't used, which is not that unlikely when we're talking about 100 years.

However that's not the assumption a fiat investor makes, isn't it? You invest because you want to stay at least above inflation, best case above the global economic growth because you know the USD 100,- that you have now won't have the same purchase power in 10-20 years. Same for EUR, the array of currencies European countries had before the Euro and every other fiat currency.

Now assuming some people think that there's a chance that fiat currencies will vastly lose relevancy the next 100 years, yet don't want to take their chance with gold either... now where would that leave us...?

[KarmaShark]

haha, I can totally relate. I grabbed 40 from Jutarul @ 2.5, and then another couple on BTC-TC at ~2.6. Sleep is for wimps. Like Lunch. 

Well done. There was a literal stampede to pick up anything left over at 2.5 in his sales thread right after the doors closed. 3BTC/share today, Havelock is very close to breaching 3 as we speak.

[pikeadz]

Alright guys.  I bought 4 shares.  Fuck, I hope I don't regret this.  I remember when I could have bought them at .4... kicking myself, but I plan on being in it for the long term because these dividends are too good to pass up.  Nice to be in the club and to meet you all!

Welcome to the new wealthy elite.    ;-)


Cheers.

I am diversifying a bit.  I own 2 blades, I have 5 avalons on the way, but I don't think I can keep up with the difficulty forever so that's where AM shares come in.  We'll see!

[lophie]

I have one BFL single ordered in march, couldnt resell the preorder so far. Dunno was it lack of trust in me or in BFL. But I guess in the end that miner would become a novelty in my future collection of "My pathway of becoming a millionaire" 

[aahzmundus]

For people wondering about dividends... I again will point you to the chart I had runeks make.  Take a look at this...



We are doing FAR better then last week at the same time, so divs should be wonderful imho.

For the full chart visit http://runeks.dk/bitcoin/ and DONATE to him and SmiGueL  (http://www.asicminercharts.com/) for their AMAZING charts that I cant stop staring at.

[Eric Muyser]

Look at that, ASICMINER is 100% out of BTC guild and 100% solo mining. More profits for us.

Nice job F&F (friedcat and friends)!

[g83]

Maybe next week divs will be a bit less cause blades are sold out

[ianp]

Look at that, ASICMINER is 100% out of BTC guild and 100% solo mining. More profits for us.

I'm curious what kind of effect merged mining had on income from BTC guild? I'm sure they've thought through that -- I'm just curious what the thought process was.

[ianp]

Maybe next week divs will be a bit less cause blades are sold out

I agree with your assessment. Blades represented ~.017 of last weeks dividends.

[muyuu]

Maybe next week divs will be a bit less cause blades are sold out

I agree with your assessment. Blades represented ~.017 of last weeks dividends.

But we're doing far better in the mining department. I'd expect a similar dividend, not much more or less.