ASICMINER: Entering the Future of ASIC Mining by Inventing It

[freedomno1]

Yawn, so no new car this week eh.......

Your are hanging in for a car?

For this week my friend  , Already got many toys.

Could you buy a car from one week's divs? Shees how many shares do you must have then?

He means $500 car

Joe Six Coiners should go to sleep, This is Bitcoin no one would actually give exact information about holdings. Now go play with the kids that monitor my vanitygen addresses.

On a different related matter regarding ASICMINER. Was there a new update from FC that I missed this week. Can't find it under the pile of shillzs and FUD. links?

Business as usual BTCgarden cancelled release returned all the bitcoins, and BlackLilac is almost ready to ship units worldwide and is holding a contest for free miners etc, sums up this week fairly well.

Unless I missed something

https://asicminer.info/forum/index.php?page=Thread&postID=138#post138

[lophie]

Yawn, so no new car this week eh.......

Your are hanging in for a car?

For this week my friend  , Already got many toys.

Could you buy a car from one week's divs? Shees how many shares do you must have then?

He means $500 car

Joe Six Coiners should go to sleep, This is Bitcoin no one would actually give exact information about holdings. Now go play with the kids that monitor my vanitygen addresses.

On a different related matter regarding ASICMINER. Was there a new update from FC that I missed this week. Can't find it under the pile of shillzs and FUD. links?

Business as usual BTCgarden cancelled release returned all the bitcoins, and BlackLilac is almost ready to ship units worldwide and is holding a contest for free miners etc, sums up this week fairly well.

Unless I missed something

Active Mining speculation against Asicminer 2nd gen. chips........... drums are rolling.....

[freedomno1]

That doesn't count if I include that then Avalon chips were sent out to some people and no one has any idea what to do with them  
And HIM got it's BFL singles signalling BFL is shipping things

[zoinky]

Yawn, so no new car this week eh.......

Your are hanging in for a car?

For this week my friend  , Already got many toys.

Could you buy a car from one week's divs? Shees how many shares do you must have then?

lophie has ~250 shares, I'd guesstimate.

[tinus42]

Yawn, so no new car this week eh.......

Your are hanging in for a car?

For this week my friend  , Already got many toys.

Could you buy a car from one week's divs? Shees how many shares do you must have then?

lophie has ~250 shares, I'd guesstimate.

So roughly $500 then. I know someone who had a car which he paid 300 euro's for and he drove thousands of kms with it all over Europe. So it is not implausible.

[lophie]

Yawn, so no new car this week eh.......

Your are hanging in for a car?

For this week my friend  , Already got many toys.

Could you buy a car from one week's divs? Shees how many shares do you must have then?

lophie has ~250 shares, I'd guesstimate.

So roughly $500 then. I know someone who had a car which he paid 300 euro's for and he drove thousands of kms with it all over Europe. So it is not implausible.

[DiabloD3]

Yawn, so no new car this week eh.......

Your are hanging in for a car?

For this week my friend  , Already got many toys.

Could you buy a car from one week's divs? Shees how many shares do you must have then?

lophie has ~250 shares, I'd guesstimate.

So roughly $500 then. I know someone who had a car which he paid 300 euro's for and he drove thousands of kms with it all over Europe. So it is not implausible.

Thats like saying he drove Portland ME to Washington DC. People do this rather often in shitty cars.

[tinus42]

Thats like saying he drove Portland ME to Washington DC. People do this rather often in shitty cars.

At several parts he drove on unpaved roads through hilly country with it.

Still beats renting a car I guess.

BTW: the journey you mention is 870 km long, not thousands of kms (first read Portland as Portland, Oregon), similar to Amsterdam - Prague (878 km).

[Lauda]

So have we invented the future yet?   

[Pale Phoenix]

So have we invented the future yet?   

Did that months ago, and made more than a few satoshis along the way. Life is good.

[nubbins]

So have we invented the future yet?   

Did that months ago, and made more than a few satoshis along the way. Life is good.

+1!

[Franktank]

So have we invented the future yet?   

Can you name any other venture that has made over 150K bitcoins in just 6 months? Paid out dividends 5x of its IPO price? Manufacture and distribute mining hardware without pre-orders?

If so, I'm all ears.

[Vycid]

So have we invented the future yet?  

Can you name any other venture that has made over 150K bitcoins in just 6 months? Paid out dividends 5x of its IPO price? Manufacture and distribute mining hardware without pre-orders?

If so, I'm all ears.

Obviously Bitcoin is too small a universe to have had a similar company yet. But I am reminded of South African gold mining companies in the 1970s, where companies would rapidly and regularly pay out dividends bigger than their IPO.

Or, maybe it reminds me of dot com companies around 2000. Not that those companies didn't have great ideas that would play out in the long run, just that they were all horrendously overvalued and awash with competition (ex. Cisco and Amazon, which both crashed ~90% and took a decade to recover).

This venture is indeed the most successful, but is it worth 1.6 million bitcoins?

[Franktank]

Obviously Bitcoin is too small a universe to have had a similar company yet. But I am reminded of South African gold mining companies in the 1970s, where companies would rapidly and regularly pay out dividends bigger than their IPO.

His response (whether you agree with it or not):

Update
About the argument of dividend payments, our view is that we will distribute the net income after necessary costs are excluded and funds for foreseeable future (expansion, gen-2 chips) are reserved. Bitcoin is already an investment itself having a great potential. Any investment, no matter how profitable, based on "turning Bitcoins to fiat first" requires double consideration. We can invest the RMBs to bonds and they are almost bound to be more profitable than just holding the RMBs, but we can never say the same to Bitcoins.

So we feel that it is most responsible to let the shareholders decide how to do with the abundant Bitcoins. We will of course find other investments (which are focused on helping the Bitcoin economy therefore benefit all Bitcoin holders), but they are all involved in different risk and return model than a mining/mining hardware company. So if there are new investments, they will be as new adventures, in new collaboration structures, and after a significant period of time since ASICMINER is always the most important job for us to do before the company could gradually run itself with a little less founder involvement.

Or, maybe it reminds me of dot com companies around 2000. Not that those companies didn't have great ideas that would play out in the long run, just that they were all horrendously overvalued and awash with competition (ex. Cisco and Amazon, which both crashed ~90% and took a decade to recover).

This venture is indeed the most successful, but is it worth 1.6 million bitcoins?

That is for the market to decide, time will tell.

[Vycid]

So we feel that it is most responsible to let the shareholders decide how to do with the abundant Bitcoins. We will of course find other investments (which are focused on helping the Bitcoin economy therefore benefit all Bitcoin holders), but they are all involved in different risk and return model than a mining/mining hardware company.

The reality is that most people that own AM shares are very optimistic about the company. So those huge dividends have, to a large degree, been rolled back into the company rather than being invested in other ventures. This artificially inflates share prices.

As the margins on hardware decrease and cause the dividends to shrink (this will happen - in fact, it already has happened to some extent), that upward pressure on the share price will dissipate, and there will be a price adjustment. And that doesn't even consider any adjustment due to the fact that the company is less profitable in the first place.

Bitcoiners are a very idealistic and optimistic bunch, so naturally there's people waiting to buy AM shares at BTC3.8 on the belief that "it's just worth more". But equities markets are often savage in their adjustments, and this is a serious powder keg... I'm going to go on record as saying that AM will not yield 1.6 million bitcoins in profit in the next ten years (P/E ratio of 10). When people realize that, and try to cash in on their shares, there will be bagholders.

[hl5460]

If http://blockchain.info/pools is right, AM's bite on the pie has dropped from around 25% in May to 8% at the moment.
If http://blockchain.info/zh-cn/blocks/ASICMiner is right, AM just mined 18 blocks or 450 BTC on 15th August.
AM shareholders shall probably pray for gap somehow being compensated by the hardware sales.

[JimiQ84]

If http://blockchain.info/pools is right, AM's bite on the pie has dropped from around 25% in May to 8% at the moment.
If http://blockchain.info/zh-cn/blocks/ASICMiner is right, AM just mined 18 blocks or 450 BTC on 15th August.
AM shareholders shall probably pray for gap somehow being compensated by the hardware sales.

Franchising.

Also, APR of AM is still the biggest among all assetts.

[superduh]

first mover advantage + trust- unlike every scammy company so far

[Ninshatamoto]

first mover advantage + trust- unlike every scammy company so far

And couple that first mover advantage with the fact that they are in China which offers some of the cheapest labor around, and has existing infrastructure for chip manufacturing, which gives AM ANOTHER leg up on would-be startups.

[freedomno1]

Proven is greater than unproven until others step up to the plate the status quo will remain
Transaction fees hehe repeats