ASICMINER: Entering the Future of ASIC Mining by Inventing It

[lophie]

I hate most people here. I am not suffering not even a bit. It is interesting how people wow over such incoherent train of thoughts and comments.

I love you lophie, true as life.

Thank you, I love you too man. Lets share the love of coins <3

[Dexter770221]

New business plan in town - selling backplanes. I was waiting for this moment since friedcat announced backplanes.

lots of New Blades are still available as well as USB miners.

a new order of 5+ blades can add a backplane for .25 btc
an order of 10 blades gets the backplane for free

Sells are not going as expected? Not good...

[finlof]

I hate most people here. I am not suffering not even a bit. It is interesting how people wow over such incoherent train of thoughts and comments.

I love you lophie, true as life.

Thank you, I love you too man. Lets share the love of coins <3

lophie - you know that was a yoda starwars reference, right?

[lophie]

I hate most people here. I am not suffering not even a bit. It is interesting how people wow over such incoherent train of thoughts and comments.

I love you lophie, true as life.

Thank you, I love you too man. Lets share the love of coins <3

lophie - you know that was a yoda starwars reference, right?

OMG it was!!!!  ,................................ I didn't know  !

can we go back to the OP please?

So guys no update this week as well? Come on at least an update from Friedcat that updates will stop being on weekly basis! right?

And aside that I really don't know what is happening with the farm but guys is it possible that ASICMINER did go back mining on pools for the time being? Maybe mining via a different wallet address? I mean there weren't any updates for two weeks now why most people here are assuming the worst? Bears much?

[hlynur]

I have to admit that after I've read about the recent release of another model by cointerra competition is quite heavy atm. especially if i look at projected profits (http://decentralizedhashing.com/bitcoin-mining-equipment-table/)
from a miner's perspective it's simple maths to put money in a preorder right now instead of waiting and hoping for a good offer by AsicMiner.
A little update how 2nd gen development is going really wouldn't hurt right now.

[velacreations]

hash rate looks like it is coming back, currently around 40 TH/s...  Issues getting resolved?

[conv3rsion]

I have to admit that after I've read about the recent release of another model by cointerra competition is quite heavy atm. especially if i look at projected profits (http://decentralizedhashing.com/bitcoin-mining-equipment-table/)
from a miner's perspective it's simple maths to put money in a preorder right now instead of waiting and hoping for a good offer by AsicMiner.
A little update how 2nd gen development is going really wouldn't hurt right now.

LOL. Doing simple math reveals that even if cointerra ships mid dec, their miner is likely to lose money. If its closer to January, their miner will lose thousands. You have to factor in difficulty increases. http://mining.thegenesisblock.com/ bases that on recent difficulty increases and not speculation.

Then there is the whole game of preorders, and that's been working real fucking well hasn't it. The bottom line is either buy stuff that ships now and could ROI (which is only AM) or buy coins.

[Vycid]

I have to admit that after I've read about the recent release of another model by cointerra competition is quite heavy atm. especially if i look at projected profits (http://decentralizedhashing.com/bitcoin-mining-equipment-table/)
from a miner's perspective it's simple maths to put money in a preorder right now instead of waiting and hoping for a good offer by AsicMiner.
A little update how 2nd gen development is going really wouldn't hurt right now.

LOL. Doing simple math reveals that even if cointerra ships mid dec, their miner is likely to lose money. If its closer to January, their miner will lose thousands. You have to factor in difficulty increases. http://mining.thegenesisblock.com/ bases that on recent difficulty increases and not speculation.

Then there is the whole game of preorders, and that's been working real fucking well hasn't it. The bottom line is either buy stuff that ships now and could ROI (which is only AM) or buy coins.

I just used that site with the default values for Cointerra IV starting in January. 46 day payback period, $3,970 net profit.

I agree that mining is a losing proposition at this point for anyone who does not make their own chips, but I supect a lot of people are going to jump on this.

The big news is that cointerra is selling for $3/GH. I don't know what their margins are, but they are probably still healthy and prices will drop further.  FC is going to feel a squeeze in a few months.

[velacreations]

from a miner's perspective it's simple maths to put money in a preorder right now instead of waiting and hoping for a good offer by AsicMiner.

I think there are some BFL customers that would disagree with that statement.

Do you really want to wait and hope that your order arrives in a reasonable amount of time?  Or would you rather have cash in hand for the next several months?

[hlynur]

I have to admit that after I've read about the recent release of another model by cointerra competition is quite heavy atm. especially if i look at projected profits (http://decentralizedhashing.com/bitcoin-mining-equipment-table/)
from a miner's perspective it's simple maths to put money in a preorder right now instead of waiting and hoping for a good offer by AsicMiner.
A little update how 2nd gen development is going really wouldn't hurt right now.

LOL. Doing simple math reveals that even if cointerra ships mid dec, their miner is likely to lose money. If its closer to January, their miner will lose thousands. You have to factor in difficulty increases. http://mining.thegenesisblock.com/ bases that on recent difficulty increases and not speculation.

Then there is the whole game of preorders, and that's been working real fucking well hasn't it. The bottom line is either buy stuff that ships now and could ROI (which is only AM) or buy coins.

I just used that site with the default values for Cointerra IV starting in January. 46 day payback period, $3,970 net profit.

I agree that mining is a losing proposition at this point for anyone who does not make their own chips, but I supect a lot of people are going to jump on this.

The big news is that cointerra is selling for $3/GH. I don't know what their margins are, but they are probably still healthy and prices will drop further.  FC is going to feel a squeeze in a few months.

I misinterpreted percentage values in that chart have a constantly rising difficulty rate included and it starts from moment of delievery.
yea, on a second thought it's probably calculated from the point if a miner would be deployed at this moment right now, right?
...suddenly the whole situation looks much more ugly 

cointerra is really leading the market with the competitive pricing (if they are delievering...but that company looks most professional until now).
I think they could become the biggest player in the future.

I think there are some BFL customers that would disagree with that statement.
Do you really want to wait and hope that your order arrives in a reasonable amount of time?  Or would you rather have cash in hand for the next several months?

yea BFL,     what more to say.... some guy at #bitcoin-assets mentioned a site with a count of all the undelievered orders until now. (not sure if official, but there were around 5000  )

[velacreations]

I think there are some BFL customers that would disagree with that statement.
Do you really want to wait and hope that your order arrives in a reasonable amount of time?  Or would you rather have cash in hand for the next several months?

yea BFL,     what more to say.... some guy at #bitcoin-assets mentioned a site with a count of all the undelievered orders until now. (not sure if official, but there were around 5000  )

yeah, that's terrible.  But, that illustrates the point that investing in a pre-order from a company that has yet to deliver even 1 unit is extremely risky.  Any delay at all, especially on tight margins, will destroy your ROI.

I'm not saying Cointerra will be another BFL, but it is very possible that their products could be delayed.  So, it's not just a simple thing of saying "the maths say the better investment is the pre-order".  Personally, I'd rather have my BTC in my hands, not someone else's.

[conv3rsion]

I just used that site with the default values for Cointerra IV starting in January. 46 day payback period, $3,970 net profit.

I should have mentioned, that site is using gox for the USD / BTC exchange rate. Putting in the current value of bitstamp or coinbase changes it down significantly. Also I was using the 14k cointerra dec device, not the newly added 6k jan cointerra device, which is showing a $2700 maximum profit, but that is assuming it was shipped Jan 1st.

I'm not arguing they can't lower their margins even further, I'm saying that preorders do not look appealing at all right now, even with the best anticipated outcome and the now reduced pricing. And worse, if USD / BTC raises before then (in the next 4 months), its likely that a person would have been much better buying coins, since that will also eventually accelerate difficulty.

The good news is that while difficulty does not drive prices up (instead raised prices drives up difficulty), with this much equipment being preordered, its likely that at some point people will realize they are better buying coins and that will drive prices up.

What does this all mean for AM?  Well friedcat said that the difficulty increase is still under their projections, so maybe he planned for it. We don't know, but he isn't often lying.

[tinus42]

The observed drop of AM hashrate can only mean that the company is doing something. And I'm always happy with AM doing something, whatever that something is:)

One more time.

Apparently a power outage would constitute Friedcat doing something.

AM logic.

Yes that would constitute him doing something. Trying to fix the outage. Or do you expect him sitting on his hands then?

Ah, I see. Yes, Friedcat would don his red cape and take to the sky, bringing his awesome telekinetic powers to bear on the stalled turbine at the local coal power plant.

It's good to have a demigod around.

Or maybe just start up the backup generators.

[EskimoBob]

Vycid, look at Activemining new prices. Those will make you money even if you get them in November.

[freedomno1]

I hate most people here. I am not suffering not even a bit. It is interesting how people wow over such incoherent train of thoughts and comments.

I love you lophie, true as life.

Thank you, I love you too man. Lets share the love of coins <3

Feeling the love  of BTC that is

[bitsalame]

The old adage comes to mind when I think about Cointerra: "When something is too good to be true..."

[keeron]

I might be blowing smoke out of my a**, but here's another wild speculation ...

It seems that post last dividend (and maybe some sales that weren't included in the div), there's atleast 2200 BTC coming from HW sales for Asicminer.

How?
- Look at the two main group buy threads here (CanaryInTheMine). His payment addresses are 14ja5p6K1gqYgmZQPCU295UxducKwaT6pw and 15HJTCu5d87FMdczKJ2fLXHj4t3LcT77hn
- The payments from these are ending up in http://blockchain.info/address/1Cj45qvqgEa6vEhUCBNFDEVWykxf5Brm6V ... ~2200 BTC

I suspect this will be part of the div next week (factoring in what AM takes for R&D and other costs)

Their mining (atleast the public address) seems a bit slow as we've seen reported earlier. Still approx. 4% (looking at mined blocks with < 100 confirmations). I just hope that they report back with another mining address and/or mention of the leasing revenue in the past couple of weeks

Those two ad purchases (as well as a 2nd bid from Friedcat, that he lost) seem to suggest they are nearing an announcement around leasing or new hardware. Though, he did use up one ad space to advertise the price cut on old usb / blades.

[Puppet]

The old adage comes to mind when I think about Cointerra: "When something is too good to be true..."

... then you should redo the math ?

If all current promises by the various asic vendors pan out, before January there will be well over 10 PH extra on the network (and huge amounts in the months after that).
https://bitcointalk.org/index.php?topic=283820.0

(DnT reckons  ~8PH but he only sums the ones he believes, but I find it unlikely that neither ActiveMining nor BTCGARDEN nor LabCoin nor xCrowd  will ship anything at all, and on top of that, neither avalon nor asicminer will come out with a next gen); 10PH is probably very conservative. Of course, they may all be delayed, december may turn out to be may,  but then chances are your  order is delayed too, so that makes little difference unless you backed the right horse or you are mining already).

Now redo the math, does anyone still think Cointerra's offer looks too good to be true? The only thing thats almost too good to be true is selling $25 chips for closer to $2800 $1500. But that wont last long.

[bbxx]

New business plan in town - selling backplanes. I was waiting for this moment since friedcat announced backplanes.

lots of New Blades are still available as well as USB miners.

a new order of 5+ blades can add a backplane for .25 btc
an order of 10 blades gets the backplane for free

Sells are not going as expected? Not good...

backplanes were for every 10 blades
many of blades were sold in small quantities so there is a lot of spare backplanes
better to sell them then send back

[Monarch]

Dear Friedcat, board members, dear shareholders.

I don’t speak a lot, but as a shareholder I need to speak out now.

Here are my concerns.

1.)   Un-transparency in company mining hashrate
2.)   Un-transparency in company hardware salles and other income/expenses
3.)   Lack of updates from board or Friedcat himself

---

Regarding the first concern, i proposed the following question in the first round of questions

“Could we have an official live hashrate meter from ASICMINER?”

We received 2 answers for now:

Yes. Our internal management system is towards its completing. Directing the data to a public webpage is easy.

The same question made into the second round of questions as well, so second answer was :

We have an internal one, mainly for troubleshooting when some of the racks going down. The hashrate meter based on the blocks mined reflects more of the real speed (plus luck of course). We will buy more bandwidth before making it accessible by the whole internet. It also requires more commitment in maintenance.

Now is middle of September and we still don’t have hashratemeter. We are still guessing the hashrate from mined blocks, we are still questioning, believing, hoping, speculating …

 

For second concern regards un-transparency in company sales I proposed the following question

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

This question made into the second round of shareholders questions.

answer

We use a different deposit address for each payment transaction. But a centralized nexus address is good. Then people could see how the funds are separated as dividends and expenses.

From bitcoin-flow in AM addresses as a shareholder I still don’t have a clue how many blades/usbs company sold in week/month. Also what about direct sales in China? Franchising? Expenses? 2nd gen development? Moving?

Its really hard to write few words after each dividend? “The sales was … and the news are” If CEO doesn’t have a time for this anymore than somebody from staff could handle the public relations.



Third concern, lack of updates.

I remember days when Friedcat delivers updates like clockwork. This is not true anymore. And humble shareholders are kept in speculating darkness. What happened with transparency?

In this unstable times we need updates more than ever.

In my everyday life I see that money changes people, but I believe this is not an issue here and we shareholders are still important for company.


Kind regards,

Monarch