ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Franktank]

If you're uncertain don't sell it all, keep a fraction. Also re-investing all your BTC into equity is risky, because it exposes you to having to short sell. Don't get infected by the rampage going on in other stocks. Do your due diligence. Holding BTC is still a good strategy if you don't have the time to make bitcoin related investment decisions, because BTC itself is a commodity which is bound to appreciate and it has no counter-party risk.

Spray and pray can work - but only if you don't miss the golden goose. The mining landscape becomes more crowded now since the run-up in bitcoin price (which makes the NRE costs worth it). Please know that most of these offerings are a strategy of these companies to outsource the investment risk - i.e. the NRE and initial production costs - while retaining a large fraction of the equity. If these companies don't make back their NRE and production costs in yield (given they don't fail), then you're looking at an overvaluation at IPO. In that case it is prudent to wait until the valuation has adjusted to fairly priced.

The situation for ASICMINER is slightly different than for newcomers. ASICMINER is already well capitalized and can use proceeds to grow the operation and business. It would require a massive VC funding to get any of the newcomers equally capitalized. Thus ASICMINER has less risk exposure. However, as stated elsewhere, the pricing for ASICMINER has less room for growth (if you're searching for the 10-fold investment type).

+1, well said.

[ThickAsThieves]

It's poll time!

Please review the questions below, and consider whether there are any you would like added to this poll.

If you would like to add a question, pm it to me.

Please try to be reasonable with any submitted questions, and understand that not all suggestions will be used.

QUESTIONS

Does ASICMINER/Bitfountain intend to create and official website and/or blog outside of the bitcointalk forums?
 
Does ASICMINER have plans to develop a marketing campaign to extend beyond word of mouth and business on the bitcointalk.org?
 
Originally, board members were going to receive a test unit of an ASIC mining device. Will you provide this or any other tangible items to board members in the future?
 
Could we have an official live hashrate meter from ASICMINER?
 
For more transparency, is it possible to share a wallet address for depositing income from ASICMINER hardware sales?

What are the plans regarding the Official ASICMINER Exchange? Have they been dropped?

Besides mining, hardware sales, and fees, are there any other potential sources of revenue?
 

[madmax_ger]

Could we have an official live hashrate meter from ASICMINER?

great questions, nice work. But wasn't that quoted one already asked?
I remember FC said something like that they are working on this, and they would give access to that, then.

Am I wrong?
What's about this?

[maco]

Feeling good about AM

[empoweoqwj]

It's poll time!

Please review the questions below, and consider whether there are any you would like added to this poll.

If you would like to add a question, pm it to me.

Please try to be reasonable with any submitted questions, and understand that not all suggestions will be used.

QUESTIONS

Does ASICMINER/Bitfountain intend to create and official website and/or blog outside of the bitcointalk forums?
 
Does ASICMINER have plans to develop a marketing campaign to extend beyond word of mouth and business on the bitcointalk.org?
 
Originally, board members were going to receive a test unit of an ASIC mining device. Will you provide this or any other tangible items to board members in the future?
 
Could we have an official live hashrate meter from ASICMINER?
 
For more transparency, is it possible to share a wallet address for depositing income from ASICMINER hardware sales?

What are the plans regarding the Official ASICMINER Exchange? Have they been dropped?

Besides mining, hardware sales, and fees, are there any other potential sources of revenue?
 

Personally I'd much rather see a question in there about whether a sale of AM to a larger company is possible, and if so, under what conditions, and what would shareholders get out of it. There has been quite a bit of discussion about this on the boards and no two people seem to have the same take on it. Love to hear what friedcat had to say.

[lucasjkr]

It's poll time!

Please review the questions below, and consider whether there are any you would like added to this poll.

If you would like to add a question, pm it to me.

Please try to be reasonable with any submitted questions, and understand that not all suggestions will be used.

QUESTIONS

Does ASICMINER/Bitfountain intend to create and official website and/or blog outside of the bitcointalk forums?
 
Does ASICMINER have plans to develop a marketing campaign to extend beyond word of mouth and business on the bitcointalk.org?
 
Originally, board members were going to receive a test unit of an ASIC mining device. Will you provide this or any other tangible items to board members in the future?
 
Could we have an official live hashrate meter from ASICMINER?
 
For more transparency, is it possible to share a wallet address for depositing income from ASICMINER hardware sales?

What are the plans regarding the Official ASICMINER Exchange? Have they been dropped?

Besides mining, hardware sales, and fees, are there any other potential sources of revenue?
 

I would ask, believing that I heard that AM was aiming to maintain a steady 30% of the network hashrate, if that number is still achievable. Put another way, with BFL shipments obviously coming online, and other far more efficient offerings to come in the future from others (KnCMiner being an obvious contender, assuming, as always that they follow through) does AM believe that 30% is still achievable? If not, what number should we hope that AM will strive for? The target percentage of network hashrate having a huge impact on BTC flow, and therefore BTC dividends, and therefore the perceived value of AM, as an enterprise and on a per-sharew basis.

Or is that question too long?

[VolanicEruptor]

You're worried about BFL shipments coming online??  LOL that's like saying you're worried about USB asicminers coming online..

[helixone]

It's poll time!

Please review the questions below, and consider whether there are any you would like added to this poll.

If you would like to add a question, pm it to me.

Please try to be reasonable with any submitted questions, and understand that not all suggestions will be used.

QUESTIONS

Does ASICMINER/Bitfountain intend to create and official website and/or blog outside of the bitcointalk forums?
 
Does ASICMINER have plans to develop a marketing campaign to extend beyond word of mouth and business on the bitcointalk.org?
 
Originally, board members were going to receive a test unit of an ASIC mining device. Will you provide this or any other tangible items to board members in the future?
 
Could we have an official live hashrate meter from ASICMINER?
 
For more transparency, is it possible to share a wallet address for depositing income from ASICMINER hardware sales?

What are the plans regarding the Official ASICMINER Exchange? Have they been dropped?

Besides mining, hardware sales, and fees, are there any other potential sources of revenue?
 

I would ask, believing that I heard that AM was aiming to maintain a steady 30% of the network hashrate, if that number is still achievable. Put another way, with BFL shipments obviously coming online, and other far more efficient offerings to come in the future from others (KnCMiner being an obvious contender, assuming, as always that they follow through) does AM believe that 30% is still achievable? If not, what number should we hope that AM will strive for? The target percentage of network hashrate having a huge impact on BTC flow, and therefore BTC dividends, and therefore the perceived value of AM, as an enterprise and on a per-sharew basis.

Or is that question too long?

BFL is the least of anyone in the mining space's worries. (Well assuming you aren't actually waiting for a BFL hardware delivery.)

-helixone

[Super T]

It's poll time!

Please review the questions below, and consider whether there are any you would like added to this poll.

If you would like to add a question, pm it to me.

Please try to be reasonable with any submitted questions, and understand that not all suggestions will be used.

QUESTIONS

Does ASICMINER/Bitfountain intend to create and official website and/or blog outside of the bitcointalk forums?
 
Does ASICMINER have plans to develop a marketing campaign to extend beyond word of mouth and business on the bitcointalk.org?
 
Originally, board members were going to receive a test unit of an ASIC mining device. Will you provide this or any other tangible items to board members in the future?
 
Could we have an official live hashrate meter from ASICMINER?
 
For more transparency, is it possible to share a wallet address for depositing income from ASICMINER hardware sales?

What are the plans regarding the Official ASICMINER Exchange? Have they been dropped?

Besides mining, hardware sales, and fees, are there any other potential sources of revenue?
 

I would ask, believing that I heard that AM was aiming to maintain a steady 30% of the network hashrate, if that number is still achievable. Put another way, with BFL shipments obviously coming online, and other far more efficient offerings to come in the future from others (KnCMiner being an obvious contender, assuming, as always that they follow through) does AM believe that 30% is still achievable? If not, what number should we hope that AM will strive for? The target percentage of network hashrate having a huge impact on BTC flow, and therefore BTC dividends, and therefore the perceived value of AM, as an enterprise and on a per-sharew basis.

Or is that question too long?

BFL is the least of anyone in the mining space's worries. (Well assuming you aren't actually waiting for a BFL hardware delivery.)

-helixone

BFL aside, it's a good question. Given the recent IPO's and other announcements around new mining ventures  (Labrat,  BTC Garden Hashfast etc), it would be very useful to re-check FC's view on the likely total network hashrate at the end of the year, and what proportion of this the current business plan predict's AM will still control.

Also - is there a danger that hardware sales/franchises will be hit if the hashrate rises too steeply and hardware intended to be sold is instead required to maintain network percentage...

[notme]

I know reading is hard, but posting here is not the way to get your question considered:

If you would like to add a question, pm it to me.

Emphasis is TAT's

[Super T]

For more transparency, is it possible to share a wallet address for depositing income from ASICMINER hardware sales?

Would it be too hard to simply trace this back from divi payments? Anyone tried?

[Super T]

I know reading is hard, but posting here is not the way to get your question considered:

If you would like to add a question, pm it to me.

Emphasis is TAT's

I know patronising others is easy, but I don't see anything wrong with collaboratively discussing and refining potential questions here.  Particularly if the community can help answer quesions without the need to bother Friedcat.

[notme]

I know reading is hard, but posting here is not the way to get your question considered:

If you would like to add a question, pm it to me.

Emphasis is TAT's

I know patronising others is easy, but I don't see anything wrong with collaboratively discussing and refining potential questions here.  Particularly if the community can help answer quesions without the need to bother Friedcat.

I'm not trying to stop discussion.  I'm just trying to make sure people know that they have to actually submit the question.

[wo0x]

I know reading is hard, but posting here is not the way to get your question considered:

If you would like to add a question, pm it to me.

Emphasis is TAT's

I know patronising others is easy, but I don't see anything wrong with collaboratively discussing and refining potential questions here.  Particularly if the community can help answer quesions without the need to bother Friedcat.

I'm not trying to stop discussion.  I'm just trying to make sure people know that they have to actually submit the question.

I cannot not find that link to the question election document. Or is TAT giving himselfs airs!?

[canth]

Personally I'd much rather see a question in there about whether a sale of AM to a larger company is possible, and if so, under what conditions, and what would shareholders get out of it. There has been quite a bit of discussion about this on the boards and no two people seem to have the same take on it. Love to hear what friedcat had to say.

Honestly, if this were a public company, as a shareholder you would not know about it until the deal was announced. The sale could be for more than the current share price, the same or less than the current share price. Any smart CEO isn't publicly selling the company right up until the point that it's sold - that's how they get the best price.

[keystroke]

It's poll time!

As a shareholder I would like to see a question about the network connectivity of the node. Specifically is there is a plan to address the number of stales and the low number of transactions in the blocks mined by AM. This would help increase shareholder value (more blocks, more transactions) and also address a concern that the community has about AM. It would also increase confirmation time and thus make the network better overall. Thanks!

[notme]

It's poll time!

As a shareholder I would like to see a question about the network connectivity of the node. Specifically is there is a plan to address the number of stales and the low number of transactions in the blocks mined by AM. This would help increase shareholder value (more blocks, more transactions) and also address a concern that the community has about AM. It would also increase confirmation time and thus make the network better overall. Thanks!

OFFICIAL UPDATE

The topic of the orphaned blocks and low tx fees in AM blocks was recently addressed by the board.

Friedcat is aware of the problem and Bitfountain is working to solve it. In the meantime, it is a negligible but necessary loss.

It is not as simple as it might seem. The problem comes from peering and poor bandwidth/internet connectivity in China and software optimizations used to deal with the situation. Companies like Amazon(.cn) also suffer from these problems in China. It isn't necessarily a problem caused by the Great Firewall itself.

Thank you,

~TAT

[keystroke]

The topic of the orphaned blocks and low tx fees in AM blocks was recently addressed by the board.

Thanks and apologies for missing this the first time it was posted! Normally I click on friedcat's username and read his posts. Should I also be following posts of a specific board member? e.g. ThickAsThieves? Thanks again!

[notme]

The topic of the orphaned blocks and low tx fees in AM blocks was recently addressed by the board.

Thanks and apologies for missing this the first time it was posted! Normally I click on friedcat's username and read his posts. Should I also be following posts of a specific board member? e.g. ThickAsThieves? Thanks again!

TAT will pretty much always post important things that friedcat doesn't post himself.  He posts a lot more than friedcat though, so there is more to sort through.

[lucasjkr]

You're worried about BFL shipments coming online??  LOL that's like saying you're worried about USB asicminers coming online..

I am. I ordered in September 2012 and received my order already. Sold it on eBay promptly thereafter. But, that makes me confident that other people are indeed receiveing their products as well. The network is seeing  a HUGE increase in hashrate and difficulty, while at the same time out dividends are slipping. On July 2, when I received mine, the total hashrate of bitminter (the pool I used) was less than 5.5 TH, by the time i shipped mine to the buyer, it was over 9 TH, and today it's nearing 12 TH. Where else are those hashes come from? Even friday, they claimed to ship "a lot" of mini rigs. Considering other days where they've said they've shipped one two or three MR's, a lot sounds like it will be a much bigger number - and every two that are shipped equals an additional TH of hashing power hitting the network.

Lets not fall into the "it's a scam" outlook of angry buyers still waiting for their products. I can say at least that Jalapenos have shipped, first hand. The hashrate of the network is flying upwards, and the word that Avalon Batch 3 was shipped was shipped doesn't account for the rapid growth in the june to mid july time frame. It's clearly not a "scam" - real products are shipping. It took a lot longer than all of us buyers would have liked, and there was probably a LOT more interest in these products than anyone ever would have guessed. So unless someone has a better idea of where all of this is coming from, and why people who post that they're waiting for their product on Jody's log on one day suddenly disappear from that blog a few days after their stated order date has passed, the truth appears they're coming online.

If it's not BFL, then who is the dark horse that's added so much power to the network at our expense? However you want to look at it, something is in the offing, and we're not keeping up.

I'm not trying to come across as a BFL sock puppet, simply a concerned AM shareholder who doesn't want to play the roll of an ostridge with its head in the sand. There's a lot of power out there documented as being on order, and even more to come (if KNC delivers), so I have to wonder how much we can grow our operation with the chips we have on hand, since 2nd gen chips are a fews away from delivery. Friedcat has been incredibly transparent so far, I think, and it would be great to have greater transparency as to what his thoughts are in the short to medium term future.