ASICMINER: Entering the Future of ASIC Mining by Inventing It

[GodHatesFigs]

Called out these shares as overpriced at anything over 1BTC months ago. Got shouted down by the Moonflyers. Awful quiet now...

[SebastianJu]

I think for the future it might be better to constantly take a part away for future investments. So that it isnt squished into a short timeframe and shareprice drops. I mean the investment was long time known before. At least it would be a bit more stable then.

Called out these shares as overpriced at anything over 1BTC months ago. Got shouted down by the Moonflyers. Awful quiet now...

So you try to say that a shareprice that gives you 25% a year on divs is overpriced? And now you feel smart because the price is lower?

[keeron]

I think the FUDsters are missing the point that the price for AM (and a lot of other stocks) tanked because of the BTCT closing / panic. The other part is lack of communication from FC.... especially given the issues and questions being raised... a simple "hi, we are doing good towards gen2" might also have helped.

We need to see the next few weeks as these PT shares get transferred over or converted to direct...and then see the sentiment around. If the direct shares are being traded for this low or around 1.8-2.0

[lophie]

I think the FUDsters are missing the point that the price for AM (and a lot of other stocks) tanked because of the BTCT closing / panic. The other part is lack of communication from FC.... especially given the issues and questions being raised... a simple "hi, we are doing good towards gen2" might also have helped.

We need to see the next few weeks as these PT shares get transferred over or converted to direct...and then see the sentiment around. If the direct shares are being traded for this low or around 1.8-2.0

The interesting part that I am dying to see is the part when ASICMINER makes a big announcement but acess to liquidity is very hard due to BTCT fiasco and Bitfunder's G.ASICMINER-PT get swamped with transfers in and out.

I wonder what would happen to the share price at that time.....

[freedomno1]

I think the FUDsters are missing the point that the price for AM (and a lot of other stocks) tanked because of the BTCT closing / panic. The other part is lack of communication from FC.... especially given the issues and questions being raised... a simple "hi, we are doing good towards gen2" might also have helped.

We need to see the next few weeks as these PT shares get transferred over or converted to direct...and then see the sentiment around. If the direct shares are being traded for this low or around 1.8-2.0

The interesting part that I am dying to see is the part when ASICMINER makes a big announcement but acess to liquidity is very hard due to BTCT fiasco and Bitfunder's G.ASICMINER-PT get swamped with transfers in and out.

I wonder what would happen to the share price at that time.....

This scenario makes me laugh evilly because it would be fun to watch
(Sorry I like insanity at times )

[lophie]

I think the FUDsters are missing the point that the price for AM (and a lot of other stocks) tanked because of the BTCT closing / panic. The other part is lack of communication from FC.... especially given the issues and questions being raised... a simple "hi, we are doing good towards gen2" might also have helped.

We need to see the next few weeks as these PT shares get transferred over or converted to direct...and then see the sentiment around. If the direct shares are being traded for this low or around 1.8-2.0

The interesting part that I am dying to see is the part when ASICMINER makes a big announcement but acess to liquidity is very hard due to BTCT fiasco and Bitfunder's G.ASICMINER-PT get swamped with transfers in and out.

I wonder what would happen to the share price at that time.....

This scenario makes me laugh evilly because it would be fun to watch
(Sorry I like insanity at times )

You forgot the cat your are petting. A fried one muahahahaha

[KCBitcoin]

nothing has heard from Friedcat regarding this whole btct winding down?

[Rannasha]

nothing has heard from Friedcat regarding this whole btct winding down?

Why should he comment on that? Only passthroughs for AM operate on BTCT, the direct share ledger hasn't been affected. There are more relevant questions that could be answered.

[KCBitcoin]

nothing has heard from Friedcat regarding this whole btct winding down?

Why should he comment on that? Only passthroughs for AM operate on BTCT, the direct share ledger hasn't been affected. There are more relevant questions that could be answered.

true

[ThickAsThieves]

You are welcome to push your ASICMINER-PT shares to my account on BTCT.co, TATInvestments, where I can convert them to AM1 shares on Havelock.
See https://www.havelockinvestments.com/fund.php?symbol=AM1 for full details and instructions.

There are no management fees on dividends for AM1 and Havelock has low trade fees as well.

PLEASE DO NOT DO THIS UNTIL AFTER THIS WEEK'S DIVIDENDS. ALSO DO NOT DO THIS IF YOU ARE JUST TRYING TO EXPORT TO DIRECT SHARES FASTER (IT WILL NOT BE FASTER, IF YOU INTEND TO HOLD DIRECT SHARES, JUST WAIT FOR BURNSIDE TO DO THEM).

[friedcat]

OFFICIAL ASICMINER UPDATE
 
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
 
PR & Communications
1. The board has committed to meeting even more often than we have been, and intentionally gleaning whatever info can be shared from each meeting, and posting it to public.
2. The board will be assisting with writing these posts to make things easier for Friedcat.
3. The board is in discussions to create content and designs for an official website.

BTCT closing
Today, we discussed this topic and Friedcat will be reaching out to Burnside to determine the best way to handle all of his PT shareholders. Burnside might just give Friedcat a database to process, and TAT Investments has offered to handle a full migration to the AM1 asset on HavelockInvestments.com if it is feasible and agreeable.

LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.

Hardware Update
• Already shipped devices(Gen1, already shipped) were limited by quantity of the power chip supply we pre-ordered before two months.
• We made an order of another brand of power chips which are about two weeks late. In October this will provide another 500TH/s (Gen1).
• If any deal of ordering Gen1 chips from outside buyers via us is reached, additional orders will be made.
• The size of the Gen2 order will be decided as appropriate, according to the network difficulty when it is time to finalize the order size.

Franchising
The board is working to polish the franchising program and is currently discussing the idea of hosting auctions to determine the best pay-per-share rates for ASICMINER, and what profitability the franchises require to operate. ASICMINER intends to grow the franshising program at a faster pace in October, so please participate in this process if you are capable of hosting blades and looking to mitigate some of your risks in buying hardware.
In order to make accurate bids, franchisees need 3 things:
1) Some of the blades as a sample, so they can plan and see what they are doing.
2) Reliable estimates and timelines for delivery, as this can severely impact the ability to operate efficiently.
3) Clear terms or a formula to know when their PPS value can be adjusted as the difficulty increases.
 
Custom Cooling Systems
We have been finalizing on our HK datacenter with our professional partner on immersion cooling. This product will be of interest both miners, and other industries that require cooling of similar hardware. Our cooling system partner built it as an exhibition house where everything is clean and shiny for investors/buyers to visit and for ASICMINER to make videos as a demonstration.

Sales/Advertising Update
ASICMINER is pursuing for additional sales & advertising opportunies. A Google Ads campaign will be considered, as well as Reddit and other websites. Forum ads are getting expensive now, and ROI is unclear for them.

[keeron]

Holy fcat!

[Vycid]

Yep, there's the update, right on schedule.

It's the 23rd. I bet we see an update tonight, or otherwise a disaster later.

Anyway, this is pretty much underwhelming. Probably gonna see a quick pop upward in the exchanges, until people realize that FC hasn't even negotiated a Gen 2 order size yet, and that AM is going to war with 500GH of 1st gen hardware (which is 2 weeks late™).

In the short term it's profitable, sure, but 1.5 BTC/share is not a good deal.

Not much else to talk about, I guess.

[VeeMiner]

thanks for the update Friendcat, good times are coming!

[freedomno1]

Thanks as always
Curious why Friedcat is referred in the third person though

[JimiQ84]

Thanks as always
Curious why Friedcat is referred in the third person though

Update was written by whole board

[bobboooiie]

Oh wow nice update! Does that mean that we will be hashing with +500TH on october or thats the number with blades for sale?

[darkyoung]

Good update! FriedCat!

[KCBitcoin]

OFFICIAL ASICMINER UPDATE
• We made an order of another brand of power chips which are about two weeks late. In October this will provide another 500TH/s (Gen1).

Hmmm, are these 500T for sale or self-mining?

[Vycid]

Oh wow nice update! Does that mean that we will be hashing with +500TH on october or thats the number with blades for sale?

Based on the mention of advertising, I suspect FC intends to sell at least some of them. It will probably be a mix, since I doubt he expects to sell all 500 TH.