ASICMINER: Entering the Future of ASIC Mining by Inventing It

[binaryFate]

I remember I asked why not all 400,000 shares could be accounted for and friedcat explained that after the issue with GLBSE there were several shares that just never got claimed.

What happens to the dividends for the unclaimed shares?

A more intriguing question is: why would someone not claim their shares?

Loss of private key?

Can't they then set up a different address and send a mail to Friedcat to have it changed? I guess people had to give an e-mail address to GLBSE to register there so that is how ownership could be proved.

The only reasons I can think of that makes sense to me is if someone died or went into a coma, lost their memory or went insane. 

You're probably right, If the amount of owners was in the hundreds, that's quite lickely.
The division for the divs is still done with 400,000. Yet they don't seem to receive dividends, AM must keep this money somewhere?

[Aureum_Coffee]

Chinese Version
烤猫最新消息：
一，因刀片主控电压问题，延迟发货，估计在30号左右按订单先后顺序陆续发货
二，发货前会再次调整价格，降价降幅至少高于推迟时间段的挖矿所得BTC
三，预定的客户，发货前会返BTC差价
四，因延迟发货，店主表示抱歉，同时请大家继续关注烤猫，烤猫依然是实力最强大的矿机商

Well this is interesting.  My own translation.

News from Friedcat:
1.  Because blades have voltage regulation problem, shipping is delayed.  Estimated shipping around the 30th, and will ship according to order sequence.
2.  Will readjust price right before shipping.  Minimum price reduction will be amount of the BTC mined during the delay.
3.  For customers who pre-ordered, we'll refund the BTC price difference right before shipping.
4.  Store owner apologizes for the shipping delay.  At the same time, please continue support Friedcat.  Friedcat is still the best miner vendor around.


If this is officially Friedcat's policy, to reduce price and refund BTC due to shipping delays, this is a first I've seen in the BTC community.  I am impressed!!!!

edit: typo

[TsuyokuNaritai]

If this is officially Friedcat's policy, to reduce price and refund BTC due to shipping delays, this is a first I've seen in the BTC community.  I am impressed!!!!

Indeed, this might end up making ASICMiner look good, especially when people make the obvious comparison to BFL, and people start working out how much of a refund Josh would have given them if he was as fair as Friedcat.

[aahzmundus]

Friedcat never set in stone a price IIRC.  Hell, he never announced new product in detail.  I feel what happened is our Chinese distributor got some information, decided to blurt it out and take pre-orders (something friedcat does NOT do) and now because of a small issue he is having to offer refunds.  Friedcat usually does not have to do this because he only sells things he has on hand.

Want official information from Friedcat?  Wait for him to post.

[binaryFate]

Friedcat never set in stone a price IIRC.  Hell, he never announced new product in detail.  I feel what happened is our Chinese distributor got some information, decided to blurt it out and take pre-orders (something friedcat does NOT do) and now because of a small issue he is having to offer refunds.  Friedcat usually does not have to do this because he only sells things he has on hand.

Want official information from Friedcat?  Wait for him to post.

I am concerned about this too. The distributor is to blame here, Friedcat never announced anything officially. Because of this distributor, for the first time AM looks like having a small technical failure leading to delay, while without this pre-order story, nobody would even know there was a technical problem somewhere. I do hope they learn the lesson and STOP WITH PRE-ORDERS. Seriously, pre-orders have only brought troubles to other companies, AM should not fall into the same behavior (even for pre-orders that are only for 2 or 3 weeks!!).

[vlaoou321]

Chinese Version
烤猫最新消息：
一，因刀片主控电压问题，延迟发货，估计在30号左右按订单先后顺序陆续发货
二，发货前会再次调整价格，降价降幅至少高于推迟时间段的挖矿所得BTC
三，预定的客户，发货前会返BTC差价
四，因延迟发货，店主表示抱歉，同时请大家继续关注烤猫，烤猫依然是实力最强大的矿机商

Well this is interesting.  My own translation.

News from Friedcat:
1.  Because blades have voltage regulation problem, shipping is delayed.  Estimated shipping around the 30th, and will ship according to order sequence.
2.  Will readjust price right before shipping.  Minimum price reduction will be amount of the BTC mined during the delay.
3.  For customers who pre-ordered, we'll refund the BTC price difference right before shipping.
4.  Store owner apologizes for the shipping delay.  At the same time, please continue support Friedcat.  Friedcat is still the best miner vendor around.


If this is officially Friedcat's policy, to reduce price and refund BTC due to shipping delays, this is a first I've seen in the BTC community.  I am impressed!!!!

edit: typo

Your translation is correct, this is ASICMINER,

[vlaoou321]

You can be assured that income may be damaged, but not much

[vlaoou321]

I found a rule. We can note that whenever ASICMINER ready for delivery or commissioning of mining machinery, mining shares from the stock will surely be reduced.

[velacreations]

actually, FC did say that new blades would be available late June/early July, so he fell short on that promise all on his own.  The distributor made other announcements, and none have come true, yet, but without any official word from FC, it looks like we'll be lucky to see new blades in July at all.

[Strange Vlad]

Chill out, guys!  Friedcat never signed up to always underpromise and overdeliver, did he?  Shit happens to everybody, even to feline deities.  No need to be mad at friedcat for this delay so far.

And resellers/distributors can do what they want.  It's not preorders that are bad, it's only the way BFLand likes handle them.  These chinese guys are doing it right with these price compensations.

[teek]

even to feline deities. 

lmao,  almost spit out my coffee!

[velacreations]

Chill out, guys!  Friedcat never signed up to always underpromise and overdeliver, did he?  Shit happens to everybody, even to feline deities.  No need to be mad at friedcat for this delay so far.

I don't think anyone is mad, but people need to stop acting like FC can never do wrong.  He did give us a rough timeline, and things came up, and he didn't deliver.  No big deal.  The right thing to do, though, is to make an update and let your customers and shareholders know what is going on.

Instead, we get a drip-feed of rumors that pass through 2 bad google translations.

[eltopo]

I remember I asked why not all 400,000 shares could be accounted for and friedcat explained that after the issue with GLBSE there were several shares that just never got claimed.

What happens to the dividends for the unclaimed shares?

A more intriguing question is: why would someone not claim their shares?

Loss of private key?

Can't they then set up a different address and send a mail to Friedcat to have it changed? I guess people had to give an e-mail address to GLBSE to register there so that is how ownership could be proved.

The only reasons I can think of that makes sense to me is if someone died or went into a coma, lost their memory or went insane.  

Is there a list of unclaimed shares ? I dont think the people can even remember that they had shares

This. I forgot I had some shares myself at that time, and was remembered by the mail from FC. If someone changed their mail or delete the mail thinking it was spam (if they only knew  ) FC got no address to send out the div to.

I don't know why the amount of shares differ from week to week, but it's a very small amount so I don't care...

[muyuu]

Friedcat is a gentleman and a scholar.

[tinus42]

I remember I asked why not all 400,000 shares could be accounted for and friedcat explained that after the issue with GLBSE there were several shares that just never got claimed.

What happens to the dividends for the unclaimed shares?

A more intriguing question is: why would someone not claim their shares?

Loss of private key?

Can't they then set up a different address and send a mail to Friedcat to have it changed? I guess people had to give an e-mail address to GLBSE to register there so that is how ownership could be proved.

The only reasons I can think of that makes sense to me is if someone died or went into a coma, lost their memory or went insane.  

Is there a list of unclaimed shares ? I dont think the people can even remember that they had shares

This. I forgot I had some shares myself at that time, and was remembered by the mail from FC. If someone changed their mail or delete the mail thinking it was spam (if they only knew  ) FC got no address to send out the div to.

I don't know why the amount of shares differ from week to week, but it's a very small amount so I don't care...

I just can't figure how you could forget having ASICMINER shares. Did you leave the Bitcoin community for a few months and hid under a rock?

[Franktank]

I just can't figure how you could forget having ASICMINER shares. Did you leave the Bitcoin community for a few months and hid under a rock?

I dunno but maybe things like DYING or other life changing events cause one to not redeem those shares, food for thought.

On a more serious note, I'm sure friedcat will make a formal announcement regarding the unaccounted shares. I believe it would be in Sept/Oct that makes it one year after GLBSE shut down? They'll say "We've given shareholders one year to claim those shares..."

[tinus42]

I just can't figure how you could forget having ASICMINER shares. Did you leave the Bitcoin community for a few months and hid under a rock?

I dunno but maybe things like DYING or other life changing events cause one to not redeem those shares, food for thought.

I asked eltopo. He doesn't seem dead. Considering he just posted on this thread. Or maybe he did so FROM THE BEYOND!

[Taxidermista]

Friedcat is a gentleman and a scholar.

A very silent one.

[tinus42]

Friedcat is a gentleman and a scholar.

A very silent one.

Wise people only speak when they have something worthwile to say. Dumb people always talk talk talk.

[BitAddict]

Friedcat is a gentleman and a scholar.

A very silent one.

Wise people only speak when they have something worthwile to say. Dumb people always talk talk talk.

Friedcat works works works and finally speaks