ASICMINER: Entering the Future of ASIC Mining by Inventing It

[fumble]

if i can't buy them, a lot of people can't. what's that mean then?

demand is high, we should raise the price.

somebody gets it.

Greed?

Seriously.  Happy customers = repeat customers and invaluable word of mouth advertising.  Its not going to be pretty when they realize their 1BTC device can only make .5 BTC in its lifetime.

[SebastianJu]

Im not so sure the price has to be raised. I mean competition will come in very short time and AM has an interest that the customers buy from them instead from others. So the price has to be competitive too. If they bought its better than if they wait for cheaper competitor miners and buy then. The bitcoins only can be spent once.

[teek]

i've been trying to buy USBs for a week, the backorders everywhere (direct, btcguild, group buys) are getting really annoying. As a shareholder, I hope we can ramp up supply soon.

<shameless plug>

We have plenty at WTCR.ca and have already filled hundreds of orders to satisfied customers all over the world

</shameless plug> 

teek
 

[CoinBomb]

if supply runs out each time, surely an auction style purchase system would be the best way to maximise profits. highest bidder gets em.

[Lohoris]

Lol! Option writers have no balls on BTC when compared with stock exchanges.
That PUT option you wrote basically translates into give me free BTC.

Anyway best of luck .

Are you seriously comparing with stock exchanges were a "great APR" is considered to be 3%?

If the premium wouldn't beat the dividend, I'd just buy more shares instead of emitting puts...

[Lohoris]

if all the current buyers of USB miners right now, can break even in 3~6 months

lol?
you know difficulty rises, yes?

[Lohoris]

There might be room for some price increase.  However, I feel that forcing people to go through resellers will help to build out the distribution network, which will be good for the longer term health of the company.  Dealing directly with small, retail customers is an unnecessary headache for friedcat.

+1

we don't have to raise the price, we just have to maximize profit.

Supply shortages means that we are failing to do that. So either we raise the price, or we increase supply.

That's not the same thing.
Increasing the supply also increases the difficulty, which lowers the profits of both buyers and AM itself.
It's a very delicate balance.

if supply runs out each time, surely an auction style purchase system would be the best way to maximise profits. highest bidder gets em.

+1

[tinus42]

if i can't buy them, a lot of people can't. what's that mean then?

demand is high, we should raise the price.

somebody gets it.

Greed?

Seriously.  Happy customers = repeat customers and invaluable word of mouth advertising.  Its not going to be pretty when they realize their 1BTC device can only make .5 BTC in its lifetime.

I fear Bitcoin is going to turn out to become a game for the rich. Who are either the lucky first adopters who didn't delete their wallet.dat or the likes of the Winklevii who were already rich and could afford to diversify into BTC. You can only make money with money. Just like in the current financial system.

The Average Joe will just have to sweat to get scraps from the tables of the wealthy. Same as it ever was. 

[Lohoris]

I fear Bitcoin is going to turn out to become a game for the rich. Who are either the lucky first adopters who didn't delete their wallet.dat or the likes of the Winklevii who were already rich and could afford to diversify into BTC. You can only make money with money. Just like in the current financial system.

The Average Joe will just have to sweat to get scraps from the tables of the wealthy. Same as it ever was. 

Nonsense.

Bitcoin is an instrument.

Someone got rich with it, most of the people will just use it.

[crashoveride54902]

if i can't buy them, a lot of people can't. what's that mean then?

demand is high, we should raise the price.

somebody gets it.

Greed?

Seriously.  Happy customers = repeat customers and invaluable word of mouth advertising.  Its not going to be pretty when they realize their 1BTC device can only make .5 BTC in its lifetime.

I fear Bitcoin is going to turn out to become a game for the rich. Who are either the lucky first adopters who didn't delete their wallet.dat or the likes of the Winklevii who were already rich and could afford to diversify into BTC. You can only make money with money. Just like in the current financial system.

The Average Joe will just have to sweat to get scraps from the tables of the wealthy. Same as it ever was. 

I'm a average joe...i got some scraps from BM which between AM n BM i've doubled my btc worth...didn't have to sweat too much clicking buttons...thou i did invest all my mined btc into it and even 5 btc i bought with fiat...but yes i agree...those who are rich now have been greatly rewarded by btc and everyone who didn't stick it out with btc from the start are jealous, myself included...oh well what can ya do

[binaryFate]

if all the current buyers of USB miners right now, can break even in 3~6 months

lol?
you know difficulty rises, yes?

Get the idea, do not quote and point out side-effect of the previous post.
The idea was that it is better to keep price low so people will buy again the next gen because they were happy with the first. Basically to look at middle-term success rather than short one, on hardware sales.

[notme]

You can only make money with money. Just like in the current financial system.

Bitcoin isn't a magic money machine.  That would be a scam.  Your statement is true no matter what the asset, so long as it is a real good.

The part you are missing though is time.  You can only accumulate value with labor.  It doesn't matter if it is shoveling rock or trading companies or assets.  Labor is the key here and no matter what you want to accumulate you need to invest your labor into accumulating it.

[dhenson]

I've been thinking about the low number of transactions per block issue and the assumption that we aren't a very well connected node.  This made me realize that if we aren't a very well connected node, then our orphaned block rate would be higher than normal as others finding blocks around the same time will be quicker to 'spread the news' and will therefore be the winner.

I then checked the blockchain.info orphaned block page https://blockchain.info/orphaned-blocks and sure enough, a high percentage of orphaned blocks are from AsicMiner.  edit... Out of the last 25 orphaned blocks, 11 belonged to AsicMiner.

I haven't run the numbers but I have a feeling that we are leaving a HUGE amount of bitcoin on the table.

Not only are we missing out on a huge amount of transaction fee's, but we're solving blocks that we aren't even getting credit for.  It seems to me that peering off a well connected node should be a simple fix.

[notme]

I've been thinking about the low number of transactions per block issue and the assumption that we aren't a very well connected node.  This made me realize that if we aren't a very well connected node, then our orphaned block rate would be higher than normal as others finding blocks around the same time will be quicker to 'spread the news' and will therefore be the winner.

I then checked the blockchain.info orphaned block page https://blockchain.info/orphaned-blocks and sure enough, a high percentage of orphaned blocks are from AsicMiner.

I haven't run the numbers but I have a feeling that we are leaving a HUGE amount of bitcoin on the table.

Not only are we missing out on a huge amount of transaction fee's, but we're solving blocks that we aren't even getting credit for.  It seems to me that peering off a well connected node should be a simple fix.

And once again I'm wondering if friedcat should look into p2pool.  Even though getting better connected shouldn't be hard, with p2pool you have 2 different p2p networks that should each broadcast your blocks/transactions giving you even lower latency.

[empoweoqwj]

You can only make money with money. Just like in the current financial system.

Bitcoin isn't a magic money machine.  That would be a scam.  Your statement is true no matter what the asset, so long as it is a real good.

The part you are missing though is time.  You can only accumulate value with labor.  It doesn't matter if it is shoveling rock or trading companies or assets.  Labor is the key here and no matter what you want to accumulate you need to invest your labor into accumulating it.

Which law of economics is that? 

Warren Buffet doesn't have the bank account the size of a planet by working 7200 hours a day. Work smart.

[empoweoqwj]

I've been thinking about the low number of transactions per block issue and the assumption that we aren't a very well connected node.  This made me realize that if we aren't a very well connected node, then our orphaned block rate would be higher than normal as others finding blocks around the same time will be quicker to 'spread the news' and will therefore be the winner.

I then checked the blockchain.info orphaned block page https://blockchain.info/orphaned-blocks and sure enough, a high percentage of orphaned blocks are from AsicMiner.  edit... Out of the last 25 orphaned blocks, 11 belonged to AsicMiner.

I haven't run the numbers but I have a feeling that we are leaving a HUGE amount of bitcoin on the table.

Not only are we missing out on a huge amount of transaction fee's, but we're solving blocks that we aren't even getting credit for.  It seems to me that peering off a well connected node should be a simple fix.

Enough people seem concerned seems like the #1 question for friedcat at the moment

[notme]

You can only make money with money. Just like in the current financial system.

Bitcoin isn't a magic money machine.  That would be a scam.  Your statement is true no matter what the asset, so long as it is a real good.

The part you are missing though is time.  You can only accumulate value with labor.  It doesn't matter if it is shoveling rock or trading companies or assets.  Labor is the key here and no matter what you want to accumulate you need to invest your labor into accumulating it.

Which law of economics is that? 

Warren Buffet doesn't have the bank account the size of a planet by working 7200 hours a day. Work smart.

This is off topic, but he has certainly spent his share of time studying his potential investments.  Yes, work smart.  But you still have to work.

Now back to your regularly scheduled wishing friedcat would let us know what was up and wondering why his node sucks.

[empoweoqwj]

You can only make money with money. Just like in the current financial system.

Bitcoin isn't a magic money machine.  That would be a scam.  Your statement is true no matter what the asset, so long as it is a real good.

The part you are missing though is time.  You can only accumulate value with labor.  It doesn't matter if it is shoveling rock or trading companies or assets.  Labor is the key here and no matter what you want to accumulate you need to invest your labor into accumulating it.

Which law of economics is that? 

Warren Buffet doesn't have the bank account the size of a planet by working 7200 hours a day. Work smart.

Now back to your regularly scheduled wishing friedcat would let us know what was up and wondering why his node sucks.

First time I have mentioned it, ever.

[notme]

You can only make money with money. Just like in the current financial system.

Bitcoin isn't a magic money machine.  That would be a scam.  Your statement is true no matter what the asset, so long as it is a real good.

The part you are missing though is time.  You can only accumulate value with labor.  It doesn't matter if it is shoveling rock or trading companies or assets.  Labor is the key here and no matter what you want to accumulate you need to invest your labor into accumulating it.

Which law of economics is that?  

Warren Buffet doesn't have the bank account the size of a planet by working 7200 hours a day. Work smart.

Now back to your regularly scheduled wishing friedcat would let us know what was up and wondering why his node sucks.

First time I have mentioned it, ever.

Your as in the way a newscaster address the audience, although perhaps our would be clearer.  No need to get defensive.

[empoweoqwj]

You can only make money with money. Just like in the current financial system.

Bitcoin isn't a magic money machine.  That would be a scam.  Your statement is true no matter what the asset, so long as it is a real good.

The part you are missing though is time.  You can only accumulate value with labor.  It doesn't matter if it is shoveling rock or trading companies or assets.  Labor is the key here and no matter what you want to accumulate you need to invest your labor into accumulating it.

Which law of economics is that?  

Warren Buffet doesn't have the bank account the size of a planet by working 7200 hours a day. Work smart.

Now back to your regularly scheduled wishing friedcat would let us know what was up and wondering why his node sucks.

First time I have mentioned it, ever.

Your as in the way a newscaster address the audience, although perhaps our would be clearer.  No need to get defensive.

"Your as in the way a newscaster address the audience, although perhaps our would be clearer" - that's not even close to English my friend. Go back to school or shovelling rocks.