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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3901585 times)
freedomno1
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September 13, 2013, 07:19:24 PM
 #12741

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 Wink
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bitsalame
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September 13, 2013, 08:27:57 PM
 #12742

The old adage comes to mind when I think about Cointerra: "When something is too good to be true..."
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September 13, 2013, 08:42:30 PM
 #12743

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 Smiley

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.



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September 14, 2013, 10:13:02 AM
 #12744

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
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September 14, 2013, 11:04:02 AM
 #12745

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
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September 14, 2013, 11:15:50 AM
 #12746

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
robix
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September 14, 2013, 01:23:15 PM
 #12747

+1
phantastisch
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September 14, 2013, 01:25:48 PM
 #12748

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


The third concern is the main reason i sold my shares. Friedcat needs to step out of the dark again.

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ex-trader
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September 14, 2013, 01:56:55 PM
 #12749


The interesting possible counter to all this is that Friedcat and the Board should consider the following:

- Change dividend policy to monthly (or even quarterly)
- Change update policy to the same frequency

The reality is that since AM is a privately-controlled company with a minority listed on exchanges and it is not seeking to raise money since it's very profitable, it has no reason to be wasting it's time dealing with the absurd frequency of updates and dividends demanded in the Bitcoin World. That way it could officially just concentrate on running the business.

As I've said before, I'm involved in a few big private companies as a Director, Investor or both. Not one of them provides either a shareholder update or a dividend more frequently than quarterly.
robix
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September 14, 2013, 02:01:41 PM
 #12750

That's popular IRL. Bitcoinland follows other rules.
boyohi
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September 14, 2013, 02:06:52 PM
 #12751

AM sell off because of no update and unknown hashrates?
robix
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September 14, 2013, 02:09:46 PM
 #12752

That's the consequence. Shareholders tend to sell, interested investors have no reason to buy.
boyohi
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September 14, 2013, 02:12:05 PM
 #12753

LC just imploded. It seems like all stocks are going down.
AngelSky
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September 14, 2013, 02:22:42 PM
 #12754

LC just imploded. It seems like all stocks are going down.

Indeed.
velacreations
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September 14, 2013, 02:29:05 PM
 #12755

1.)   Un-transparency in company mining hashrate

I want a hash meter, too, but I don't believe an AM hash meter adds to transparency.  It is better that 3rd parties are able to verify your hash rate:

http://asicminercharts.com
http://www.dpcapital.net/blockchain/?hours=96,72,48,24
http://runeks.dk/bitcoin/

tarmi
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September 14, 2013, 02:39:23 PM
 #12756


I want a hash meter, too, but I don't believe an AM hash meter adds to transparency.

for transparency use blockchain.

from the last 200 blocks 6 were found by ASICminer.
houseofchill
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September 14, 2013, 02:57:49 PM
 #12757


The interesting possible counter to all this is that Friedcat and the Board should consider the following:

- Change dividend policy to monthly (or even quarterly)
- Change update policy to the same frequency

The reality is that since AM is a privately-controlled company with a minority listed on exchanges and it is not seeking to raise money since it's very profitable, it has no reason to be wasting it's time dealing with the absurd frequency of updates and dividends demanded in the Bitcoin World. That way it could officially just concentrate on running the business.

As I've said before, I'm involved in a few big private companies as a Director, Investor or both. Not one of them provides either a shareholder update or a dividend more frequently than quarterly.

I agree. I'm down money on AM but I buy more when I can. There will be a leader that emerges from bitcoin miners. When bitcoin breaks the dollar's back what will happen to leveraged multinational corporations? Bitcoin will be the financial and consolidation center of the world. That's my gamble with AM. As long as things are on schedule I vote for friedcat to focus on the business.

Even I get sick of looking too often at prices.  The other players and BFL and Avalon made things look easy but they weren't easy.  Just look at Coinlab.
Endlessa
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September 14, 2013, 05:49:30 PM
 #12758


The interesting possible counter to all this is that Friedcat and the Board should consider the following:

- Change dividend policy to monthly (or even quarterly)
- Change update policy to the same frequency

The reality is that since AM is a privately-controlled company with a minority listed on exchanges and it is not seeking to raise money since it's very profitable, it has no reason to be wasting it's time dealing with the absurd frequency of updates and dividends demanded in the Bitcoin World. That way it could officially just concentrate on running the business.

As I've said before, I'm involved in a few big private companies as a Director, Investor or both. Not one of them provides either a shareholder update or a dividend more frequently than quarterly.

I agree. I'm down money on AM but I buy more when I can. There will be a leader that emerges from bitcoin miners. When bitcoin breaks the dollar's back what will happen to leveraged multinational corporations? Bitcoin will be the financial and consolidation center of the world. That's my gamble with AM. As long as things are on schedule I vote for friedcat to focus on the business.

Even I get sick of looking too often at prices.  The other players and BFL and Avalon made things look easy but they weren't easy.  Just look at Coinlab.

It's not uncommon for a VC to step in and request updates from a startup when numbers are looking down. Or step in and take control.  That being said, since nobody here has controlling shares and the stock is just a "virtual entity", it would have to be a desire to be courteous or the will of friedcat for an update to be provided.  Though I still hold this model to be questionable, there is no recourse to force or reason to provide an update except as a courtesy. A thing that is evidently not a priority at this point.
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September 14, 2013, 06:50:46 PM
 #12759

Considering ASICminers overall success its surprising to see so many "experts" telling them how they should run their business. There's no lack of demand for shares so all this talk of "should have..." and "should do..." can just GTFO, they came here from nothing and kept their promises and that's worth far more than pro beancounting and paperwork.

I don't think it is unreasonable to get some information from FC regarding the mining problems and more concrete details of hardware for the next few weeks.  It would greatly help confidence to get some more information on how problems are being addressed.

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September 14, 2013, 06:51:37 PM
 #12760

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


---

Kind Regards,
-noodle_dam

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