ASICMINER: Entering the Future of ASIC Mining by Inventing It

[VolanicEruptor]

http://v.youku.com/v_show/id_XNjI1OTIxMTc2.html

One of our group members in Chinese community had an interview with Friedcat today. Above is the brief introduction of what Friedcat has done and planned to be accomplished in the next months.
To be short:
1. 1000T would be released around Nov 7th. These chips may be sold or deployed, depending on the situation then.
2. 2nd Gen chips have already been developed long time ago. But they were delayed to deploy considering the unsatisfactory performance.
3. 3rd Gen chips were also under development during that period. It is already developed now but still under test. It is expected to become a mature product in Feb 2014, which means its key indicators would be much better than those of its competitors. It is estimated that the network hashing power would be 1000p then, while Friedcat would deliver several hundred of it.

Hi Realdos,

I think friedcat played some word game here.
From 1:45 to 2:06 in the video, the girl said friedcat told her that, by Nov 7th, he will have sold a total amount of 1000T since the beginning of this mining business.
i.e. this 1000T is a grand total counting all the hardware sold in the past, not that he will release another 1000T around the 7th.

KC

Source? Did you translate yourself? What makes you think it is total TH sold not total to be deployed? I do honestly think 1000 th deployed on nov 7 is too good to be true and this sounds much more reasonable.

That's why I think FC should have been on the ball with these rumors and fill us in a bit.  His inability to act on this is causing me to sell my shares, and become uninterested in making further purchases of his products.  I don't have tolerance for bullshit like this anymore from PR.  This isn't good business..

[notme]

Press release Sunday, chill out.

[jimmothy]

That's why I think FC should have been on the ball with these rumors and fill us in a bit.  His inability to act on this is causing me to sell my shares, and become uninterested in making further purchases of his products.  I don't have tolerance for bullshit like this anymore from PR.  This isn't good business..

I'm in the same boat. One of the main reasons I bought shares in asicminer was the great communication. The lack of communication/PR in the bitcoin world is honestly unacceptable. Any bitcoin business who deals with more than 1 bitcoin satoshi of customers funds is obligated to keep constant communication with at least those who put their money in that company. Seriously one forum post every 2 weeks from these "business operators" is complete bullshit.

[aminorex]

telling volcanic eruptor to chill out?  priceless.

[tinus42]

http://v.youku.com/v_show/id_XNjI1OTIxMTc2.html

One of our group members in Chinese community had an interview with Friedcat today. Above is the brief introduction of what Friedcat has done and planned to be accomplished in the next months.
To be short:
1. 1000T would be released around Nov 7th. These chips may be sold or deployed, depending on the situation then.
2. 2nd Gen chips have already been developed long time ago. But they were delayed to deploy considering the unsatisfactory performance.
3. 3rd Gen chips were also under development during that period. It is already developed now but still under test. It is expected to become a mature product in Feb 2014, which means its key indicators would be much better than those of its competitors. It is estimated that the network hashing power would be 1000p then, while Friedcat would deliver several hundred of it.

Hmm anyone fluent in Chinese want to confirm or deny the video

Confirm that is what the interview said...

Is she a known person in the Chinese community (to the extent of making her a reliable source)?

[drdops]

Hi guys
I am in europe and I have a few G-asicminer shares on bitfunder. Considering all the uncertainty should I be moving these somewhere else? Can i move them somewhere else? or are they ok for the time being? Any advice/suggestions appreciated. Thanks

[KS]

Hi guys
I am in europe and I have a few G-asicminer shares on bitfunder. Considering all the uncertainty should I be moving these somewhere else? Can i move them somewhere else? or are they ok for the time being? Any advice/suggestions appreciated. Thanks

You need to get "verified" with weexchange.

[dexX7]

Hi guys
I am in europe and I have a few G-asicminer shares on bitfunder. Considering all the uncertainty should I be moving these somewhere else? Can i move them somewhere else? or are they ok for the time being? Any advice/suggestions appreciated. Thanks

If you have more than 250 you may export them to direct shares. As European you should be fine as long as your BF/WeEx account is verified before December 1, 2013.

[drdops]

Hi guys
I am in europe and I have a few G-asicminer shares on bitfunder. Considering all the uncertainty should I be moving these somewhere else? Can i move them somewhere else? or are they ok for the time being? Any advice/suggestions appreciated. Thanks

If you have more than 250 you may export them to direct shares. As European you should be fine as long as your BF/WeEx account is verified before December 1, 2013.

Wish I had more than 250 
In the process of verifying my account.
Thanks

[hlynur]

i'm no expert at this, bought only direct shares on the forum...
isn't bitfunder us-based?
i would stay away from any american market connected with btc assets atm.
 

[jimmothy]

i'm no expert at this, bought only direct shares on the forum...
isn't bitfunder us-based?
i would stay away from any american market connected with btc assets atm.
 

Didn't bitfunder just exclude all US customers? I honestly wouldn't have any money in bitfunder.

[finlof]

That's why I think FC should have been on the ball with these rumors and fill us in a bit.  His inability to act on this is causing me to sell my shares, and become uninterested in making further purchases of his products.  I don't have tolerance for bullshit like this anymore from PR.  This isn't good business..

I'm in the same boat. One of the main reasons I bought shares in asicminer was the great communication. The lack of communication/PR in the bitcoin world is honestly unacceptable. Any bitcoin business who deals with more than 1 bitcoin satoshi of customers funds is obligated to keep constant communication with at least those who put their money in that company. Seriously one forum post every 2 weeks from these "business operators" is complete bullshit.

obligated?  really?  keep dreaming man.  hopefully your investments will make money while you dream.

[hlynur]

i'm no expert at this, bought only direct shares on the forum...
isn't bitfunder us-based?
i would stay away from any american market connected with btc assets atm.
 

Didn't bitfunder just exclude all US customers? I honestly wouldn't have any money in bitfunder.

afaik yes, i'm just reading through http://log.bitcoin-assets.com from time to time (some interesting discussions besides the usual drivel).
with btct closed, bitfunder is the nearest market on muddy grounds (which is US atm).
don't know much about havelock, but canada looks like a safer shot atm.
if holding long, direct shares is best anyway...prevented me from panicselling.
not sure if that was a good or bad thing though.  
(at least friedcat seems like one of the guys that are in the game showing some effort for the long run and not just in for the quick buck)

[hlynur]

That's why I think FC should have been on the ball with these rumors and fill us in a bit.  His inability to act on this is causing me to sell my shares, and become uninterested in making further purchases of his products.  I don't have tolerance for bullshit like this anymore from PR.  This isn't good business..

I'm in the same boat. One of the main reasons I bought shares in asicminer was the great communication. The lack of communication/PR in the bitcoin world is honestly unacceptable. Any bitcoin business who deals with more than 1 bitcoin satoshi of customers funds is obligated to keep constant communication with at least those who put their money in that company. Seriously one forum post every 2 weeks from these "business operators" is complete bullshit.

obligated?  really?  keep dreaming man.  hopefully your investments will make money while you dream.

obligated is a bit exaggerated.
I would be content, if AM had a decent website with a shareholders' lounge.
asicminer.info, was a nice approach for communication but was filled with spam accounts and is now down for quite some time.
a forum with restricted accounts connected to the shareholder adresses would be a good platform.
what really got me quite unsettled was the bitcointalk downtime. suddenly the only information source seemed to be the reddit subforum which is really not the best place for such things

[realdos]

http://v.youku.com/v_show/id_XNjI1OTIxMTc2.html

One of our group members in Chinese community had an interview with Friedcat today. Above is the brief introduction of what Friedcat has done and planned to be accomplished in the next months.
To be short:
1. 1000T would be released around Nov 7th. These chips may be sold or deployed, depending on the situation then.
2. 2nd Gen chips have already been developed long time ago. But they were delayed to deploy considering the unsatisfactory performance.
3. 3rd Gen chips were also under development during that period. It is already developed now but still under test. It is expected to become a mature product in Feb 2014, which means its key indicators would be much better than those of its competitors. It is estimated that the network hashing power would be 1000p then, while Friedcat would deliver several hundred of it.

Hi Realdos,

I think friedcat played some word game here.
From 1:45 to 2:06 in the video, the girl said friedcat told her that, by Nov 7th, he will have sold a total amount of 1000T since the beginning of this mining business.
i.e. this 1000T is a grand total counting all the hardware sold in the past, not that he will release another 1000T around the 7th.

KC

Hi KC,

As I talked to the interviewer last night, she confirmed what you guess that by Nov 7th he will have sold a total 1000T rather than another 1000T. FC didn't play the word game. It's me who didn't translate the content accurately and made people here confused. Sorry for that.

[jimmothy]

http://v.youku.com/v_show/id_XNjI1OTIxMTc2.html

One of our group members in Chinese community had an interview with Friedcat today. Above is the brief introduction of what Friedcat has done and planned to be accomplished in the next months.
To be short:
1. 1000T would be released around Nov 7th. These chips may be sold or deployed, depending on the situation then.
2. 2nd Gen chips have already been developed long time ago. But they were delayed to deploy considering the unsatisfactory performance.
3. 3rd Gen chips were also under development during that period. It is already developed now but still under test. It is expected to become a mature product in Feb 2014, which means its key indicators would be much better than those of its competitors. It is estimated that the network hashing power would be 1000p then, while Friedcat would deliver several hundred of it.

Hi Realdos,

I think friedcat played some word game here.
From 1:45 to 2:06 in the video, the girl said friedcat told her that, by Nov 7th, he will have sold a total amount of 1000T since the beginning of this mining business.
i.e. this 1000T is a grand total counting all the hardware sold in the past, not that he will release another 1000T around the 7th.

KC

Hi KC,

As I talked to the interviewer last night, she confirmed what you guess that by Nov 7th he will have sold a total 1000T rather than another 1000T. FC didn't play the word game. It's me who didn't translate the content accurately and made people here confused. Sorry for that.

Thanks for clearing up confusion.

So what is AsicMiners game plan? Hardware sales (in which case mining will probably be unprofitable for everyone if successful) or mining dividends?

What I don't understand is why AM would be selling 10 times the amount of hashrate it has (supposedly about 25% of total bitcoin hashrate @ 4ph) when its main source of income as far as I know is mining dividends. Is AM making a considerable profit from asic sales that make it more profitable than mining solo? Is solo mining even profitable? Guess we will have to wait till oct 27th for the financial details.

I now somewhat see this as bad news that 1000 th/s total will be from AM but only hashing 100 th/s themselves I would much rather the numbers be 100th/s total and 100th/s themselves but then again I'm sure whoever bought the 1000th/s would have bought from bfl or bitfury either way.

[BitThink]

http://v.youku.com/v_show/id_XNjI1OTIxMTc2.html

One of our group members in Chinese community had an interview with Friedcat today. Above is the brief introduction of what Friedcat has done and planned to be accomplished in the next months.
To be short:
1. 1000T would be released around Nov 7th. These chips may be sold or deployed, depending on the situation then.
2. 2nd Gen chips have already been developed long time ago. But they were delayed to deploy considering the unsatisfactory performance.
3. 3rd Gen chips were also under development during that period. It is already developed now but still under test. It is expected to become a mature product in Feb 2014, which means its key indicators would be much better than those of its competitors. It is estimated that the network hashing power would be 1000p then, while Friedcat would deliver several hundred of it.

Hi Realdos,

I think friedcat played some word game here.
From 1:45 to 2:06 in the video, the girl said friedcat told her that, by Nov 7th, he will have sold a total amount of 1000T since the beginning of this mining business.
i.e. this 1000T is a grand total counting all the hardware sold in the past, not that he will release another 1000T around the 7th.

KC

Hi KC,

As I talked to the interviewer last night, she confirmed what you guess that by Nov 7th he will have sold a total 1000T rather than another 1000T. FC didn't play the word game. It's me who didn't translate the content accurately and made people here confused. Sorry for that.

Thanks for clearing up confusion.

So what is AsicMiners game plan? Hardware sales (in which case mining will probably be unprofitable for everyone if successful) or mining dividends?

What I don't understand is why AM would be selling 10 times the amount of hashrate it has (supposedly about 25% of total bitcoin hashrate @ 4ph) when its main source of income as far as I know is mining dividends. Is AM making a considerable profit from asic sales that make it more profitable than mining solo? Is solo mining even profitable? Guess we will have to wait till oct 27th for the financial details.

I now somewhat see this as bad news that 1000 th/s total will be from AM but only hashing 100 th/s themselves I would much rather the numbers be 100th/s total and 100th/s themselves but then again I'm sure whoever bought the 1000th/s would have bought from bfl or bitfury either way.

1 most miners cannot break even, so apparently sales bring more benefit than self mining.

2 self mining with 1000TH gen1 needs more than 20 datacenters as large as the current one.

[webbrowser]

2 self mining with 1000TH gen1 needs more than 20 datacenters as large as the current one.

Did you really call that a datacenter?

[BitThink]

2 self mining with 1000TH gen1 needs more than 20 datacenters as large as the current one.

Did you really call that a datacenter?

I guess there will be more complain if we see a very modern, clean, well renovated datacenter.
Such as 'why not save the renovation fee to order more chips, or give out more dividend?'

Why Friedcat chose to build the new data center in Hong Kong, rather in Shenzhen, is interesting. It's more expensive but safer there. I believe soon we can see the video about how the new datacenter looks like.

[Lohoris]

Hi guys
I am in europe and I have a few G-asicminer shares on bitfunder. Considering all the uncertainty should I be moving these somewhere else? Can i move them somewhere else? or are they ok for the time being? Any advice/suggestions appreciated. Thanks

Yes, move elsewhere, Bitfunder is a mess.