ASICMINER: Entering the Future of ASIC Mining by Inventing It

[conv3rsion]

I wait until 27th when he will give financial statement... I guess till then he has the bitcoins collected that he needs to reinvest.

Do you remember when the dividends were extremely high and everyone was encouraging Friedcat to retain some for future reinvestment? The response back then was "we have enough, this is the best use of capital (returning it to investors)".

Now, somehow, we need to stockpile 2 years worth of salaries on reduced earnings and after two months of reduced divs, we still aren't there.

Waiting to retain dividends is not smart if you believe in the long term viability of BTC because the more successful BTC is, the more competition there will be, and the more valuable those retained dividends will be when later converted to fiat costs for salaries.

...

I'm just frustrated.

[conv3rsion]

 If you bought when the market priced the shares at a high price, that is your own fault (and poor market analysis) and not Bitfountain's.

The hash rate has barely increased for several months. It has been short of 10% of network goal for months. That has NOTHING to do with market analysis.

[neutralist]

Waiting to retain dividends is not smart if you believe in the long term viability of BTC because the more successful BTC is, the more competition there will be, and the more valuable those retained dividends will be when later converted to fiat costs for salaries.

...

I'm just frustrated.

That is what a secondary offering is for.

[bitcoin.newsfeed]

 If you bought when the market priced the shares at a high price, that is your own fault (and poor market analysis) and not Bitfountain's.

The hash rate has barely increased for several months. It has been short of 10% of network goal for months. That has NOTHING to do with market analysis.

+1,   10% was minimum goal presented by ASICminer ... they fell too deep and for too long, why? competitors were able to deploy in past months, why not ASICminer?

"The business plan is unchanged. The network hashrate increase was still under our projection." - Friedcat



Really?

[Rival]

Is anyone else actually selling devices that can be delivered in a day or two? (aside from ebay?) If not, they still have an exploitable advantage if they can bring gen2 to market within in the next month and flood the market.

I can't think of any but I might just have missed them.

[hlynur]

dividends incoming...

edit - 0.00374772

thats roughly 1500 btc for the week.

ouch.

well, btc value had more than 30% increase within a week.

https://www.youtube.com/watch?v=L2Wx230gYJw

 

why does that matter? AM shares are bought in BTC. If anything, a rise in BTC / FIAT should result in an INCREASE in paid BTC because fixed fiat costs are lower.

you're right...i admit it was a naive approach by me to relate dividends to current fiatvalue, i think AM-wise i'm finally stranded in desperation phase
and the cautiously "positive" outlook into future is based only on news and speculation.  
still have faith in friedcat but it looks like a complete new start in other territories in many aspects while mining part is drifting out of focus.
i simply don't like this insecurity...so i activate protective function by being sarcastic.


edit: my only hope is more adaption in china with AM offering services and selling the shovels. i see huge potential there...

[lame.duck]

why does that matter? AM shares are bought in BTC. If anything, a rise in BTC / FIAT should result in an INCREASE in paid BTC because fixed fiat costs are lower.

What about that: Hardware sales will less profitable as there are competitors who sell hardware for Fiat. And 'fixed' cost are not really fixed as the hardware needed to get a constant hashrate oder  constant sales revenue will increase.

[conv3rsion]

why does that matter? AM shares are bought in BTC. If anything, a rise in BTC / FIAT should result in an INCREASE in paid BTC because fixed fiat costs are lower.

What about that: Hardware sales will less profitable as there are competitors who sell hardware for Fiat. And 'fixed' cost are not really fixed as the hardware needed to get a constant hashrate oder  constant sales revenue will increase.

A fixed cost is not a rising cost. The fixed cost of power for datacenter 1 is not rising. Don't conflate that with non fixed costs (like maintaing the hashrate).

[glendall]

I hope a lot of the unknowns are answered soon. Mainly for myself, did all, some, or none of the 500th get deployed yet, or will it get deployed?

The Block Erupter USB hub is somewhat underwhelming. Congrats on the team who made it, and put to it to market, I know that can't be easy. But without much better block eruptor's being available, the product is not that sexy. If you crunch the numbers on the at-cost price of eruptors, it just doesn't make sense that anyone would want to buy 50. As someone else mentioned, if you wanted 50 chips worth of mining, you might as well being putting the chips on a PCB, not in USB format. And if you can't sell the product at cost to make an effective product to compete with some other better alternatives on the market, what's the point?

A glimmer of hope would be a new USB miner gen that would be economical on that scale...

I sold most of my shares today    Been with Asicminer almost since they first went for sale on BTCT.Co and lost a lot of money, bought shares at >3 and then 1.8.... Looking back now ya I see how AM was much overvalued. But I still think they should reasonable be at around the 1.5 BTC mark per share, if they played their cards right. They still may turn it around but personally -- now that I see them possibly mining only 1% of the network -- it seems like they did not play their cards right and made some bad moves the last 2 months... been a learning experience for me.

I've made a lot of good trades this year and made a lot of profit but with Asicminer guess I just got too emotionally involved and was deluding myself on the company's true value after purchasing it when it was overvalued.

[VolanicEruptor]

I am beginning to grow a strong distaste for friedcat.. i used to love the guy.  Can he please grow some balls and answer the big questions, instead of dickin around like ken slaughter does?

[SebastianJu]

I am beginning to grow a strong distaste for friedcat.. i used to love the guy.  Can he please grow some balls and answer the big questions, instead of dickin around like ken slaughter does?

He was here last time on 20th. Stating that he will give out financials in a week:

Quick Update

The original vague range of October 20s is now made accurate at October 27th, when the projected publication of financial reports. This time it will be more detailed and informative than the last time's.

Upcoming scheduled to be happening (in time order):

Imminent repricing according to the market and the quantity.
Immersion cooling exhibition.
Payment system out of pre-alpha.
Blockchain-based exchange out of pre-alpha (whether to migrate whole ASICMiner database is still a serious debating topic).

[VolanicEruptor]

I am beginning to grow a strong distaste for friedcat.. i used to love the guy.  Can he please grow some balls and answer the big questions, instead of dickin around like ken slaughter does?

He was here last time on 20th. Stating that he will give out financials in a week:

Quick Update

The original vague range of October 20s is now made accurate at October 27th, when the projected publication of financial reports. This time it will be more detailed and informative than the last time's.

Upcoming scheduled to be happening (in time order):

Imminent repricing according to the market and the quantity.
Immersion cooling exhibition.
Payment system out of pre-alpha.
Blockchain-based exchange out of pre-alpha (whether to migrate whole ASICMiner database is still a serious debating topic).

I see a bunch of anti-mining bullshit, where's the hash power that we were supposed to get in October?

[conv3rsion]

A glimmer of hope would be a new USB miner gen that would be economical on that scale...

and this would make it all make sense. Lets continue to hope that is the plan.

[velacreations]

I see a bunch of anti-mining bullshit, where's the hash power that we were supposed to get in October?

what hashpower that we were supposed to get in October?

[SebastianJu]

I see a bunch of anti-mining bullshit, where's the hash power that we were supposed to get in October?

what hashpower that we were supposed to get in October?

He means the 500TH... though i believe most of it should go turn to miner sales.

[chriswilmer]

I'm more interested in the 2014 game plan at this point. Assuming some gen2 chips are in the works... is AM shooting for 1 PH, 5 PH? 10 PH?

[velacreations]

I see a bunch of anti-mining bullshit, where's the hash power that we were supposed to get in October?

what hashpower that we were supposed to get in October?

He means the 500TH... though i believe most of it should go turn to miner sales.

yeah, I think they'd be crazy at this point to add a bunch of gen1 to the mining operation.

[ninjarobot]

I'm more interested in the 2014 game plan at this point. Assuming some gen2 chips are in the works... is AM shooting for 1 PH, 5 PH? 10 PH?

Yes, it would be crazy for AM to produce 49 port USB hubs just for obsolete Gen1 USB sticks. The hubs are there for easy upgradability. It does not make sense to produce the hubs and not Gen2 USB sticks so I hope they are around the corner and friedcat is just keeping mum until the announcement.

[VolanicEruptor]

I see a bunch of anti-mining bullshit, where's the hash power that we were supposed to get in October?

what hashpower that we were supposed to get in October?

He means the 500TH... though i believe most of it should go turn to miner sales.

yeah, I think they'd be crazy at this point to add a bunch of gen1 to the mining operation.

I would be happy with anything right now, even if AM decides to somehow PLUG A TURKEY into the blockchain and make it hash 1KH/S out of its ass.  EVEN THAT would be better than the black void of which we have been given lately

[ashitaka]

TAT.ASICMINER Bitfunder Migration Grace Period

In light of Bitfunder's recent announcements, we are enabling each Bitfunder shareholder ONE free migration to HavelockInvestments.com.

The following limitations apply:
1. You must initiate this migration request before November 15, 2013.
2. Due to a massive amount of requests, your migration might take anywhere from 1-14 days to process.*
3. After Nov. 15th, we may offer a fee-based transfer service, or discontinue the service.
4. We can make no guarantees that Bitfunder or Havelock will not impose additional limitations on trading in the future.

 How to Transfer Shares:
 1. Make the subject of your email: TAT.AM BF
 2. Push the amount of shares to the issuer account on Bitfunder: TATInvestments by using the Transfer feature while logged in to bitfunder.com
 3. Send an e-mail to tat.investments@gmail.com from your account email address registered with HavelockInvestments.com and include the following info:
   - Bitfunder account name (not email)
  - Bitfunder public wallet address
  - Quantity of shares
  - Havelock registered email address

Do NOT send your request more than once, and do NOT include other requests, questions or comments.

* Transfers will be transferred in batches, and confirmations will ONLY be sent after each batch. Do NOT send emails requesting updates.

NOTE: TAT Investments is not responsible for any lost value, arbitrage, or trading opportunities due to delays in processing transfer requests. TAT Investments is not responsible for any limitations or discontinuations of services or access to liquidity imposed by the host exchanges.

Does this work for G.ASICMINER-PT shares on Bitfunder?