ASICMINER: Entering the Future of ASIC Mining by Inventing It

[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.

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[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.

[arnuschky]

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.

Why do you focus on mining? I don't really understand this obsession with mining dividends...

Who cares if they mine or sell as long as they pick the option that is more profitable? And at this point, with the technology that AM has and the current difficulty, I doubt that mining is more profitable than hardware sales. Also, in hardware sales the risk and uncertainty of the increase in difficulty is removed.

In a way, AM makes more money because their customers are bad at forecasting. Sad, but works for me as a shareholder.

[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

Yes, move elsewhere, Bitfunder is a mess.

To where? What are my options? (I have 10 shares)

[addi]

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.

Is it even possible to transfer shares < 250 to somewhere else?

[webbrowser]

- sell and buy back
- pool shares from like-minded trustworthy (or escrow otherwise) individuals

[SebastianJu]

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.

In fact selling was the bigger part of the divs mostly as far as i know. The thing with selling is that you get the mining income of months in one rush. That has many advantages. Less time, work, power cost and difficulty risk. So in general its better to sell miners if you get a certain amount of months mining income. Mining is a good way to keep a good income stream that is more safe since selling can stop for some reason.

[kmtan]

we shoud have the financial report tomorrow...hope get a possitive report...

[professorY]

we shoud have the financial report tomorrow...hope get a possitive report...

If it's positive, with shares currently sitting at less than 1/5th of what they were 3 months ago, the price will skyrocket.

[dexX7]

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.

This is why, I think..

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.

Upcoming scheduled to be happening (in time order):
...
Immersion cooling exhibition.

4. The immersion technique FC invented is a break-through compared to traditional one. This new technique would be of great help to the deployment of the new Gen chips.

Also:

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

I really, really hope this video will be online tomorrow. In case you're wondering, why I'm so excited: see here.

[houseofchill]

Also I'd suggest that we donate some btc to the interviewer, who paid all the expenses to interview FC for all of us.

Her btc address could be found in her sticky thread in Chinese subforum:
https://bitcointalk.org/index.php?topic=252469.0

namely:
收款账户
答：收款账户一：中国工商银行山西晋中分行平遥支行  户名：金洋洋  账户：6222020508002370874   打款备注：您的姓名、QQ号、手机号
     收款账户二：支付宝账户 fdahq@163.com 金洋洋   打款备注：您的姓名、QQ号、手机号
     收款账户三：比特币账户：1KNCoqEqxszm4u4zRo6LiD3stWYVTWwK6t
Her bitcoin address is as above: 1KNCoqEqxszm4u4zRo6LiD3stWYVTWwK6t

Thank you for all the info. You should have a bitcoin address in your box also.

[addi]

- pool shares from like-minded trustworthy (or escrow otherwise) individuals

can anyone elaborate how this works? I have 21 shares on Bitfunder I would like to get on Havelock. Selling & buying would make no sense I would lose bitcoin

[ex-trader]

we shoud have the financial report tomorrow...hope get a possitive report...

If it's positive, with shares currently sitting at less than 1/5th of what they were 3 months ago, the price will skyrocket.

The price 'should' hardly move at all.

The fact is that the financial report may only cover what assets they have. If they have 10,000 bitcoins or 50,000 bitcoins as holdings those equate to only 0.025 BTC/share or 0.125 BTC/share.

The only thing that should matter is how much volume of chips they are producing and what they can mine or be sold for.

The problem is that this market is so illiquid and driven by amateurs (no dis-respect intended) that small positive or negative statements or short-term swings in divs massively effect the price. In no other market would a one month change in income cause a $400m company (5BTC/share at current prices) to lose 85% of it's value.

[professorY]

The problem is that this market is so illiquid and driven by amateurs (no dis-respect intended) that small positive  or negative statements or short-term swings in divs massively effect the price.

Exactly.

[San1ty]

I wonder what can be so positive that it would make the price sky-rocket.
If there will be good news, it's probably long term.

Share price might go up in 2014, but this year? I'd be surprised.

[professorY]

Okay, maybe 'skyrocket' wasn't the best word to use. I'm just basing that on how things were this summer and thinking that a lot of people like to put their BTC into AM shares when things are going well. I think there are a lot of people waiting to get back in as soon as things are looking up. If enough of them jump in...price goes up. To people who made a lot of money on AM in the past, I don't think it would take a whole lot of positive outlook to get people jumping back in.

[San1ty]

Okay, maybe 'skyrocket' wasn't the best word to use. I'm just basing that on how things were this summer and thinking that a lot of people like to put their BTC into AM shares when things are going well. I think there are a lot of people waiting to get back in as soon as things are looking up. If enough of them jump in...price goes up. To people who made a lot of money on AM in the past, I don't think it would take a whole lot of positive outlook to get people jumping back in.

That's a valid point, I think we might see a small surge tomorrow. But when div's stay low I think it'll drop again till some of the promises really materialize.

[dexX7]

The problem is that this market is so illiquid and driven by amateurs (no dis-respect intended) that small positive or negative statements or short-term swings in divs massively effect the price. In no other market would a one month change in income cause a $400m company (5BTC/share at current prices) to lose 85% of it's value.

A good rule of thumb is probably share price = dividend * 52 / p, whereby p is somewhere between 0.2 and 0.4. There are limitations though, especially when funds are held back, but looking at the historical prices, it's a rough approximation.

The fact is that the financial report may only cover what assets they have. If they have 10,000 bitcoins or 50,000 bitcoins as holdings those equate to only 0.025 BTC/share or 0.125 BTC/share.

It's correct that 10k BTC equals 0.025 BTC/share, but I don't think you can't conclude that this justifies only a shareprice of 0.025 BTC, because the implied value is much, much higher.

[ladycat]

Today is 10.27, I want to know when Friedcat will show the financial reports~~~~

[bittop100]

10.27，，，，，