ASICMINER: Entering the Future of ASIC Mining by Inventing It

[gusti]

I don´t understand why Friedcat is not giving daily updates to help stop the shares going to the floor.

he doesn't care about share price, why would he?

Because he and his partners own a huge pile of those shares?
Anyway, I don't think he should make random appearances to "save" the share price...
friedcat has always been more about presenting results than making empty promises, which is a good thing.

Why not "save" the share price ? You love your company, you care about your investors.
What's bad on a daily or weekly, optimistic yet realistic update ? Is he shy ?

[physalis]

I don´t understand why Friedcat is not giving daily updates to help stop the shares going to the floor.

he doesn't care about share price, why would he?

Because he and his partners own a huge pile of those shares?
Anyway, I don't think he should make random appearances to "save" the share price...
friedcat has always been more about presenting results than making empty promises, which is a good thing.

Why not "save" the share price ? You love your company, you care about your investors.
What's bad on a daily or weekly, optimistic yet realistic update ? Is he shy ?

Well, it can give the appearance of manipulation. Exactly what the people behind the labcoin scam were doing (/are doing).
Sell shares, wait for price to tank, buy shares, make a post with baseless promises -> profit.
I thus find reactionary updates on crashes rather suspicious.

Regular daily/weekly updates, like you're proposing, are a different thing though, I agree, that would be good.
There was a time when friedcat did weekly updates (more or less), but that stopped at some point.

[Jutarul]

Whats causing the share dump?

Manipulation of course, same as the sudden drop ... Que "markets can remain irrational..." and "conspiracy nut" misdirection comments

Wow.

The market is being manipulated because you don't agree with/can't predict its movements?

This is either hubris or tinfoil, I can't tell which.

No manipulation required. We're in a normal cycle between euphoria and hated. I think that we have entered the hated region a while ago and it is not clear where we are going to bottom out. It's a highly illiquid market and even though the current share price may be a good entry point for a lot of people, I expect them to hold back to see how low this can go.

Friedcat promised that news updates should improve in the future. However, keep in mind that silence does not necessarily mean a stand-still. It just means that activities are either confidential or are not relevant for public release.

I would not try to encourage friedcat to "support" the share price for the simple reason that it is distracting. As a CEO one should create a highly competitive company, not a paper asset. Company valuation only becomes important when there is need for financing or liquidity, and we all know that ASICMINER has a sufficiently strong standing to stay in the game without further fund raising.

Again, I'd like to remind everyone to look around and find similar opportunities to get investment exposure to the mining industry. Most of the companies are privately funded. And getting your own company off the ground will become increasingly uneconomic.

[JimiQ84]

I don´t understand why Friedcat is not giving daily updates to help stop the shares going to the floor.

he doesn't care about share price, why would he?

Because he and his partners own a huge pile of those shares?
Anyway, I don't think he should make random appearances to "save" the share price...
friedcat has always been more about presenting results than making empty promises, which is a good thing.

Why not "save" the share price ? You love your company, you care about your investors.
What's bad on a daily or weekly, optimistic yet realistic update ? Is he shy ?

Well, it can give the appearance of manipulation. Exactly what the people behind the labcoin scam were doing (/are doing).
Sell shares, wait for price to tank, buy shares, make a post with baseless promises -> profit.
I thus find reactionary updates on crashes rather suspicious.

Regular daily/weekly updates, like you're proposing, are a different thing though, I agree, that would be good.
There was a time when friedcat did weekly updates (more or less), but that stopped at some point.

Since around 22nd of june we have monthly updates. Next one will be probably on 23rd of october

[gusti]

I don´t understand why Friedcat is not giving daily updates to help stop the shares going to the floor.

he doesn't care about share price, why would he?

That would mean he doesn't care about AM investors ...

He does. I get regularly my dividends. And he keeps some divs for reinvestment. Its in my best interests too. He should not care about share prices like big companies do. Trying to move shareprice high by firing employers and similar tactics. He delivers the divs and thats it. Shareprice can go up and down, thats normal.

So as long as everybody receive their dividends, it doesn't care if share price will fall to, let's say, 0.001 ?
I don´t think so. Pissed investors will go to another project, do we wish this ?
And again, I trust FC, I only think he needs to be more comunicative, as he is the head of the project.

[tinus42]

Whats causing the share dump?

Manipulation of course, same as the sudden drop in gold prices that bares no relation to logical trading practices. Look across other markets and you'll see the same thing with little or no attempt to hide it. Its another desperate attempt to prop up confidence in the USD by making other markets look unattractive, ie. can kicking on a massive scale. We've had everything from the stone age to the communications age and we're now in the retard age because delays create employment dontchknow. Not much point worrying about it, its just a dying empire lashing out at everything around it in the hope of postponing the inevitable.

Que "markets can remain irrational..." and "conspiracy nut" misdirection comments

Wow.

The market is being manipulated because you don't agree with/can't predict its movements?

This is either hubris or tinfoil, I can't tell which.

I think he is being sarcastic by comparing it to conspiracy theories that the gold and silver markets are being manipulated.

[BitThink]

I think friedcat is waiting for the new data center in Hong Kong to be ready before he can decide the order size of gen-2 chips. Once the new data center is ready, the risk of mass production of gen-2 has bee minimized. Even the selling is not going well, there's enough capacity for self mining. Moreover, the network condition in Hong Kong is better so less orphan and low-transaction block problem. Now just wish that data center can be finished as soon as possible. Normally, it should not take more than one month for a data-center to be ready, right?

[VolanicEruptor]

I think friedcat is waiting for the new data center in Hong Kong to be ready before he can decide the order size of gen-2 chips. Once the new data center is ready, the risk of mass production of gen-2 has bee minimized. Even the selling is not going well, there's enough capacity for self mining. Moreover, the network condition in Hong Kong is better so less orphan and low-transaction block problem. Now just wish that data center can be finished as soon as possible. Normally, it should not take more than one month for a data-center to be ready, right?

Where did you hear that he's waiting for a data center to be complete?

[BitThink]

I think friedcat is waiting for the new data center in Hong Kong to be ready before he can decide the order size of gen-2 chips. Once the new data center is ready, the risk of mass production of gen-2 has bee minimized. Even the selling is not going well, there's enough capacity for self mining. Moreover, the network condition in Hong Kong is better so less orphan and low-transaction block problem. Now just wish that data center can be finished as soon as possible. Normally, it should not take more than one month for a data-center to be ready, right?

Where did you hear that he's waiting for a data center to be complete?

Just my guess. He mentioned the Hong Kong data center in his latest update.

We have been finalizing on our HK datacenter with our professional partner on immersion cooling.

Otherwise, I cannot understand why friedcat delay the gen-2 chip production, which seems essential to company's survival.

[Vycid]

Again, I'd like to remind everyone to look around and find similar opportunities to get investment exposure to the mining industry. Most of the companies are privately funded. And getting your own company off the ground will become increasingly uneconomic.

The lack of quality alternative investments doesn't make this a good one. If anything, it suggests this one might be overvalued due to the lack of choice.

You are never obligated to invest in a sector. Sometimes the winning move is not to play.

[BitThink]

Again, I'd like to remind everyone to look around and find similar opportunities to get investment exposure to the mining industry. Most of the companies are privately funded. And getting your own company off the ground will become increasingly uneconomic.

The lack of quality alternative investments doesn't make this a good one. If anything, it suggests this one might be overvalued due to the lack of choice.

You are never obligated to invest in a sector. Sometimes the winning move is not to play.

It's not just mining sector. It's difficult to find a security in the whole market having the similar reliability and good record. Most investments in bitcoin security market are just gambling. After the closure of BTCT, I guess holding BTC may be the first choice of us for some time.

[physalis]

Again, I'd like to remind everyone to look around and find similar opportunities to get investment exposure to the mining industry. Most of the companies are privately funded. And getting your own company off the ground will become increasingly uneconomic.

The lack of quality alternative investments doesn't make this a good one. If anything, it suggests this one might be overvalued due to the lack of choice.

You are never obligated to invest in a sector. Sometimes the winning move is not to play.

+1

Also +1 for war games reference

[Lohoris]

I'm definitely in a "wait and see" mode - anything else would be gambling at this point.
[...]
My personal recommendation to investors is to close your positions pending news. There's a lot of downside potential.

I'm sorry, but aren't these two sentences in conflict with each other?
I cannot see how could they cope together.

[lophie]

I'm definitely in a "wait and see" mode - anything else would be gambling at this point.
[...]
My personal recommendation to investors is to close your positions pending news. There's a lot of downside potential.

I'm sorry, but aren't these two sentences in conflict with each other?
I cannot see how could they cope together.

1- This is my plan.
2- This is what I advise you to do so I could gain off you.

Better now?

[matt4054]

I'm definitely in a "wait and see" mode - anything else would be gambling at this point.
[...]
My personal recommendation to investors is to close your positions pending news. There's a lot of downside potential.

I'm sorry, but aren't these two sentences in conflict with each other?
I cannot see how could they cope together.

I think it implies that Vycid is already all out, and "wait and see" here means more "test the bottom before getting (back) in" than "hold" if you're already in.

[btcbot]

I'm definitely in a "wait and see" mode - anything else would be gambling at this point.
[...]
My personal recommendation to investors is to close your positions pending news. There's a lot of downside potential.

I'm sorry, but aren't these two sentences in conflict with each other?
I cannot see how could they cope together.

1- This is my plan.
2- This is what I advise you to do so I could gain off you.

Better now?

Brilliant!  Stock board shorts are seldom quite so inept as this guy... He's obviously not a pro troll; he's just a guy who doesn't care that he is hurting other people for profit. 

 

[friedcat]

Official ASICMiner Update by the Board

1. Automatic Payment
We are currently working on the payment back-end, and we might begin the design process next week as well.

2. BTCT closing
BTCT told us that they will release the database for us to merge on October 10.

3. Sales/Opportunity Update
We haven’t heard from the previously mentioned potential chip buyer. We met with two other groups making 65/55nm in China interested in collaboration, but we hadn't solid cooperation conclusions yet.

4. Franchising
We have created partnerships with two new franchises.

5. Cooling Update
We hope to share a good video or exhibition materials by the end of the month.

6.Advertising Update
During the next wave of hardware sales, we will increase our advertising efforts.

7. Research & Development
We had tried several different really intricate and speculative designs for 2014, based on the assumption being competitive in a fully saturated market (average return rate getting close to normal business' single digits per year). but originally with a limited channel/staff, it can be very difficult to fully explore them. So, we conducted interviews, and recently identified several exceptional people.

We will be spreading design risk by working on several designs simultaneously and having all other designs' info/simulation results fed back to the main design process. Our designs changed aggressively and the expected successful rate (on a working mask) drops compared to the standard flow so it has to be fully (wave-level) simulated before fabrication.

8. Financial Report
The next official ASICMINER Financial Report is scheduled to be released on October 20s. We had been in the process of accumulating reserves for a two-year-based small lab (all salaries) and a full mask cost for 40nm for one month. Additional income may be reserved for other chip advancements.

9. Hardware Solutions
ASICMINER is exploring and considering several alternative hardware manufacturing roles aside from mining-related products.

[SmiGueL]

Thanks for the update friedcat!

_{Prediction: 0.0080}

[robix]

Update before divs. Divs must be awful.

[sparky999]

that update sounds like they are no where near a working Gen 2 product at the moment - long term it sounds promising I guess