ASICMINER: Entering the Future of ASIC Mining by Inventing It

[prancing_around]

I think I'm gonna sue friedcat as well, charge him with breaking my heart 

[jimmothy]

Very easy for you to say after it did happen.

everyone's a perfect investor using hindsight...

And that alone shows how naive the investors are who move their price perception based on dividends that'll only last weeks at best.

I don't know.  Current prices are around .7 for AM, so buying now with the .06+ div coming over the next month earns you roughly 9% on your investment.  That's not a bad investment.

And seeing how share prices respond to increased dividends, it's likely that you'll be able to sell those shares at week 4 for more than you can buy them now.

In the current Bitcoin securities market, I'd say 9% in a month ain't too shabby.

You are forgetting that there is no such thing as a 0.06 div coming.. Simply made up number. To properly calculate how much dividends shareholders will recieve from the sales of all 500gh/s of these gen1 you have to subtract the cost to manufacture and distribute and then you can calculate the profit. In reality it will be nowhere near 0.06 per share.

However the cube proves that FC can provide competitive hardware using old tech, when he switches to gen2 he will have a huge advantage.

[Kouye]

I think I'm gonna sue friedcat as well, charge him with breaking my heart 

Friedcat never lied about being a hairy guy. This will go nowhere.
Or will it?

[velacreations]

You are forgetting that there is no such thing as a 0.06 div coming.. Simply made up number.
....
In reality it will be nowhere near 0.06 per share.

show your math.

The cost of manufacture has already been accounted for, in previous dividends.  We paid for this development upfront, not at the end.  The company won't be subtracting manufacturing cost from hardware sales to determine dividend. 

We're looking at sale price - shipping costs/400,000.

[jimmothy]

You are forgetting that there is no such thing as a 0.06 div coming.. Simply made up number.
....
In reality it will be nowhere near 0.06 per share.

show your math.

The cost of manufacture has already been accounted for, in previous dividends.  We paid for this development upfront, not at the end.  The company won't be subtracting manufacturing cost from hardware sales to determine dividend. 

We're looking at sale price - shipping costs/400,000.

How do you know that FC wont be retaining a percentage to cover the cost of this batch/future hardware? Also we don't know how much FC is selling these to wtcr for, obviously for wtcr to make a profit after paying for the hardware to be shipped overseas so they must be buying for marginally less than 1.9btc per cube

[velacreations]

How do you know that FC wont be retaining a percentage to cover the cost of this batch/future hardware? Also we don't know how much FC is selling these to wtcr for, obviously for wtcr to make a profit after paying for the hardware to be shipped overseas so they must be buying for marginally less than 1.9btc per cube

well, he won't be retaining a percentage to pay for this batch, because he already did that.  he could retain some for future, though he hasn't mentioned that as a possibility.

My estimate assumes a 1.5 price to WTCR.  That may be a bit lower, but I don't expect it to be significantly lower.

.06/share is .48 btc/GH.  @ 30 GH a cube, that puts the net revenue around 1.44 btc/unit.
.05/share is 1.2 btc/unit.
.04/share is .96 btc/unit

[101111]

Slightly OT: FC mentioned in today's West: http://au.news.yahoo.com/thewest/business/a/-/tech/19663603/chip-designers-see-dollar-signs-in-bitcoin-miners/ article on bitcoin mining.

[finlof]

orphaned again - http://blockchain.info/block-index/437847/00000000000000098d22e43e8b43e22cafa1347b469a64bdf9a80c460b70c124

[velacreations]

For people who have AM direct shares, myBitWorth now let's you track their value using a reference from one of the exchanges: https://bitcointalk.org/index.php?topic=318306.msg3481788#msg3481788

[sayonara_sam]

with bitfunder shutting down ( https://bitcointalk.org/index.php?topic=130117.msg3482565#msg3482565 ) do i still have to pay the fee for transfering my shares into direct shares? that sucks a little bit 

[SebastianJu]

with bitfunder shutting down ( https://bitcointalk.org/index.php?topic=130117.msg3482565#msg3482565 ) do i still have to pay the fee for transfering my shares into direct shares? that sucks a little bit 

I think PT-Owners want to keep their PT, so they will move to another exchange. Only if they want to stop the PT they would turn them into direct shares without fee i think.

[keeron]

arrrgh... this is crazy (Bitfunder). Though I am a US citizen, the news is still sad.

I really hope AM is reading these news and is hurrying up deploying the blockchain based exchange. It was supposed to be out soon (post-Alpha phase?). We really need something like that, given that only Havelock remains and that is pretty fragile in itself. There is also the whole process of waiting 5-7 days or even more to transfer shares back and forth between the exchange and direct address. With a blockchain based exchange, this won't be needed and your shares are pretty much safe as your bitcoins on the blockchain.

Someone please send that Chinese girl for another round of exclusive interview with The Cat and get some leaks!

[stripykitteh]

I discovered http://bitcoinwisdom.com/bitcoin/calculator some time ago, the charts aren't bad either: http://bitcoinwisdom.com/bitcoin/difficulty.

I reckon their estimate for the next difficulty is too high (537 million, or 37.46% increase). I'm tipping a 27% increase, or ~495 million. The rate of finding blocks has stalled over the last couple of days so I don't see a bumper increase this time. Possibly this is due to most of KnC's first batch being delivered, and there being a temporary lull. It will only be for a short time, though (i.e., it won't be long enough to turn those unprofitable miners back to making ROI).

I think their estimate is completely right. No doubt we will reach 537 for the next jump.
Do you want to bet?  

BTW, thanks for the info dexX7 I didn't know this website, and looks nice.

I know we never got around to having that bet but it looks like the next increase will be around 31-32%, or 512-516 million. The growth in the last couple of days has been quite anemic. If the KnC gear didn't get patched the difficulty might not have broken 500 million this time.

[bitcoin.newsfeed]

Someone please send that Chinese girl for another round of exclusive interview with The Cat and get some leaks!

non-Chinese community still doesn't have an English transcript from 1st interview ...

[lostmoogle]

A bit OT but still AM related.

How would one prove that he/she owns shares of AM? I recall that there used to be a sheet that had all the users and share amounts but I can't seem to find it anywhere.

[silverfuture]

A bit OT but still AM related.

How would one prove that he/she owns shares of AM? I recall that there used to be a sheet that had all the users and share amounts but I can't seem to find it anywhere.

by signing with your private key corresponding to the public key that Friedcat has for your shares.

[binaryFate]

A bit OT but still AM related.

How would one prove that he/she owns shares of AM? I recall that there used to be a sheet that had all the users and share amounts but I can't seem to find it anywhere.

This sheet was made by a shareholder based on divs payments, it was nothing official.

[SebastianJu]

Including nofee or lowfee transactions in a block is a disadvantage and leads to more orphaned shares. I think thats not good for the network since mining has to serve the purpose of transactions including.
I guess asicminer partly might suffer from this.

I started a thread for this in the hope the devs might think about a way to make it more fair. I dont have a real clue about what they speak but maybe something comes out of it that will help Asicminer at the end in the process: https://bitcointalk.org/index.php?topic=324972

[trust]

*confused*

Can someone help? I had my shares transfered to friedcat, how can I transfer them from friedcat to some online stock exchange?

[Mabsark]

Very easy for you to say after it did happen.

I did say so back then and sold out 100% of my shares. I'm trying to find the posts, but the search function is crap and I'm not keen to manually read 750 pages to find them.

This is what I said back in June:

It's my opinion that a lot of investors simply don't understand how mining works. If they did, then they would understand that AM hardware and shares are vastly overpriced.

Just like a lot of people paying silly money for mining bonds have found out, AM investors will come to the same realisation that share prices are currently way overpriced.

LISTEN AND LISTEN CAREFULLY. The only reason why AM is able to charge such outrageous prices is because they've had no competition. By the end of the year, there will be plenty of competition. Here's a quick comparison:

AM Block Erupter Blade
10 Gh/s
50 BTC = 5,000 USD @ 100 USD/BTC
2 Mh/s per USD

KNC Jupiter
350 Gh/s
7,000 USD @ 100 USD/BTC
50 Mh/s per USD

It should be blatantly obvious to anyone with half a brain that there's going to be a lot less income from hardware sales due to competition. That same competition will also decrease AM's share of the network hash rate.

AM share holders are going to get hit by a good dose of reality in the coming months. Perhaps then they will stop listening to idiots trying to flog them overpriced stuff and do the maths themselves.

As you can see if you read the replies to that comment, people were warned and purposely chose to ignore those warnings. They called me a troll and stuck me on their ignore lists because they didn't like what I had to say and wanted to censor me.

Things played out exactly how I said they would. So, can I see the future? Of course not. This was just blatantly obvious. In order to not understand that, you'd need to be delusional, retarded or have severely limited experience of how the real world functions.