ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Voodah]

I have no idea what this is all about, but how do I join in

I have a new GPU coming in a few days, Powercolor AX7990, to do some LTC mining to get started.

I put down an order for KNCMiner Neptune to get started in BTC mining via a pool, but chances are the units will go to repeat customers.

I want to get familiar with mining, but wouldn't mind putting together a syndicate of real cash investors at some point in 2014 to help top-up funds to support the next level of difficulty coming around the corner, if there is an opportunity for that.

Any chairs left with participating on this before mining starts?

Have you been hibernated for a year or two ?

I was part of a business that took on western union and moneygram, but the financial crisis stopped expansion funding. took a break and completely missed a sector I know a lot about, moving money, but using digital currency.

I spent years looking at how the industry moves money, raised quite a serious pile of money between 2000 and 2007 with others to go after a few sectors, so I know how really disruptive this can be.

Well, the thing is you're kinda late for the mining game or maybe just not the best of times for it.

I would suggest you stop buying mining hardware immediatly and spend that money directly on BTC. Then spend a couple months using Bitcoin and learning about the mining ecosphere and its current situation before you commit to any plan. Yes please, do have a plan. Impulse buys will drain you in no time.

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[jimmothy]

I have no idea what this is all about, but how do I join in

I have a new GPU coming in a few days, Powercolor AX7990, to do some LTC mining to get started.

I put down an order for KNCMiner Neptune to get started in BTC mining via a pool, but chances are the units will go to repeat customers.

I want to get familiar with mining, but wouldn't mind putting together a syndicate of real cash investors at some point in 2014 to help top-up funds to support the next level of difficulty coming around the corner, if there is an opportunity for that.

Any chairs left with participating on this before mining starts?

Have you been hibernated for a year or two ?

I was part of a business that took on western union and moneygram, but the financial crisis stopped expansion funding. took a break and completely missed a sector I know a lot about, moving money, but using digital currency.

I spent years looking at how the industry moves money, raised quite a serious pile of money between 2000 and 2007 with others to go after a few sectors, so I know how really disruptive this can be.

If you haven't been keeping up to date with bitcoin over the past year you might not realize that just about every mining device being sold is unprofitable in terms of bitcoins.  Knc however does currently show the most promise in terms of hardware specs/delivery date. Asicminer is also a huge player and sells/solomines bitcoins.

Right now we are seeing the transition stage between gen1 and gen3 chips which are scheduled to arrive some time 1st quarter 2014. I would guess now is a good time to invest in am shares if you are interested as not a whole lot is going on with them at the moment.

[coins101]

heads up is much appreciated

[whalezy]

Anyone could tell me is there a public Asicminer shareholders list? I just transferred my shares to an exchange and I want to check the process.
Thanks a lot!

[explorer]

Anyone could tell me is there a public Asicminer shareholders list? I just transferred my shares to an exchange and I want to check the process.
Thanks a lot!

Check the exchange, its easier.

[antirack]

Here are a couple of articles from the past few days:

ASICMINER's Immersion Bitcoin Miner - How Far It Has Gone
http://www.i-programmer.info/news/91-hardware/6659-asicminers-bitcoin-miner-how-far-it-has-gone.html

Hong Kong Bitcoin miners pour datacentre in a FISH TANK
http://www.theregister.co.uk/2013/11/28/bitcoin_asicminer_datacentre_tank_underwater/

Incredible Bitcoin mining supercomputer is submerged in liquid cooling
http://www.geek.com/games/incredible-bitcoin-mining-supercomputer-is-submerged-in-liquid-cooling-1578367/

I think the register.co.uk article was already posted though.

[ninjarobot]

Also: http://bitcoinexaminer.org/chinese-journalist-reveals-the-secrets-of-asicminers-mining-facility/

[Aajo]

Does someone know when friedcat will move direct shares to a new owner? I read he is doing it once a week at the moment... at what week of the day?

Should be / was always on wednesday before the divs payout.

[BCarr6615]

Hey guys,

I had full AM shares on BTCT that have since become direct shares. I'm wondering who to contact or how I can transfer those shares into Havelock?  Do I contact friedcat directly?  Sorry for the newb question..

[jimmothy]

Hey guys,

I had full AM shares on BTCT that have since become direct shares. I'm wondering who to contact or how I can transfer those shares into Havelock?  Do I contact friedcat directly?  Sorry for the newb question..

Find user Thickasthieves who runs the passthrough on havelock. Read his recent posts and you will find instructions on how to do the conversion.

[explorer]

Is anyone compiling a list of questions for the board, as was previously done? 

[ThickAsThieves]

Is anyone compiling a list of questions for the board, as was previously done? 

Mostly people just repeatedly ask when the next poll will happen.

When it comes down to it, people are either too lazy to compile a sane list of questions, realize their questions aren't good ones, or have already been answered.

If you guys get a reasonable list of such unanswered questions together, I'd be glad to present them to FC.

This has been the case since the first poll.

[ThickAsThieves]

Since i have to move a couple of shares to other addresses i checked the description on what to do and found that it doesnt look really safe to me.

One way to put shares to another address is to simply ask friedcat to do that from the email friedcat is knowing. Email accounts are hacked not very seldom. And would friedcat check if a sender is faked at all? I imagine he isnt.

The second way is to send a signature. There are no rules for that. Everyone that had posted a signature somewhere or sent it through pm could be in danger when a person that knows this signature is using it to send it to friedcat. Since there are no rules for the message to sign. So shares could be stolen.

I never before sent direct shares but i dont like how insecure this looks. Am i overseeing something?

1. You are always welcome to include a wallet-signed message for verification with Friedcat. He will accept transfer requests from email without a signed message, and I am not sure what security lengths he goes to. In regard to my dealings, I audit all transactions weekly to make sure things balance.

2. Messages CAN be signed safely, simply make them specific to the effort. An easy example is putting today's date in the signed message, and saying exactly what the transaction is and with whom. This makes the message mostly useless for future theft.

[ThickAsThieves]

What hinders me to use an email address i know is attached to your Asicminer Shares, fake an email coming from that address and move 300 shares to one of my addresses? Even when one doesnt know this email. The chance is high that the user is showing that email somewhere and isnt using a special email for this.
I think thats a high risk.

I no longer submit my requests like most people, so it would stick out like a sore thumb, but I'm not your average shareholder in that sense. Otherwise, I agree, FC could get duped if he isn't careful. Being that no one has pulled this off yet, I suspect he is.

(This sounds like a good POLL question. However, it could be moot once the blockchain-based exchange is up and running...)

Yes, i can be specific with my own signature. But if i already gave out a signature to someone other, or even posted it somewhere then someon could go and try to use this signature.

Don't do that. That security mistake is yours, not FC's. If you have careless sigs out there, move your shares to a new address, simple as that.

[Xu]

I have just one question for FC (or anyone else who can answer authoritatively): where are the dividends from hardware sales? I was kind of expecting them a couple weeks ago, then I was really expecting them last week. Now I am totally uncertain when or even if they will ever be paid. I suspect a lot of other shareholders (and former shareholders) are in the same boat.

[SebastianJu]

What hinders me to use an email address i know is attached to your Asicminer Shares, fake an email coming from that address and move 300 shares to one of my addresses? Even when one doesnt know this email. The chance is high that the user is showing that email somewhere and isnt using a special email for this.
I think thats a high risk.

I no longer submit my requests like most people, so it would stick out like a sore thumb, but I'm not your average shareholder in that sense. Otherwise, I agree, FC could get duped if he isn't careful. Being that no one has pulled this off yet, I suspect he is.

(This sounds like a good POLL question. However, it could be moot once the blockchain-based exchange is up and running...)

Yes, i can be specific with my own signature. But if i already gave out a signature to someone other, or even posted it somewhere then someon could go and try to use this signature.

Don't do that. That security mistake is yours, not FC's. If you have careless sigs out there, move your shares to a new address, simple as that.

I would expect that friedcat would solve problems that occur out of his failures from his wallet. So i think the problem isnt so big.

Regarind signatures... it was an example. But how many signatures did you get by pm? Or found them in the forum? I guess its many. And many of them didnt thought about the possibility of them being recycled. This could only be prevented when both the signer is using only specific messages and when friedcat is demanding specific messages. Everything else is risky.

[SebastianJu]

I have just one question for FC (or anyone else who can answer authoritatively): where are the dividends from hardware sales? I was kind of expecting them a couple weeks ago, then I was really expecting them last week. Now I am totally uncertain when or even if they will ever be paid. I suspect a lot of other shareholders (and former shareholders) are in the same boat.

I think he paid them out already. The cubes most probably have a thin profitabilty now anymore since its gen1. So lets say 3000 are sold for a profit of 0.1BTC makes 300BTC in total for one week. Not so very much. At least thats how i think it worked.

[Xu]

I have just one question for FC (or anyone else who can answer authoritatively): where are the dividends from hardware sales? I was kind of expecting them a couple weeks ago, then I was really expecting them last week. Now I am totally uncertain when or even if they will ever be paid. I suspect a lot of other shareholders (and former shareholders) are in the same boat.

I think he paid them out already. The cubes most probably have a thin profitabilty now anymore since its gen1. So lets say 3000 are sold for a profit of 0.1BTC makes 300BTC in total for one week. Not so very much. At least thats how i think it worked.

Could be. I thought the last couple weeks were just mining plus the franchise mining. I think this goes back to the basic lack of communications. Greatly looking forward to better communications.

[empoweoqwj]

I have just one question for FC (or anyone else who can answer authoritatively): where are the dividends from hardware sales? I was kind of expecting them a couple weeks ago, then I was really expecting them last week. Now I am totally uncertain when or even if they will ever be paid. I suspect a lot of other shareholders (and former shareholders) are in the same boat.

I think he paid them out already. The cubes most probably have a thin profitabilty now anymore since its gen1. So lets say 3000 are sold for a profit of 0.1BTC makes 300BTC in total for one week. Not so very much. At least thats how i think it worked.

Weren't the cubes being sold for 1BTC a piece? I'm pretty sure the profit margin is way more than 10%.

The only question I have for fc is "when is the better communication coming"? Its not that I'm too lazy to ask a reasonable question, just too lazy to ask questions that will go unanswered anyway .....

[SebastianJu]

I have just one question for FC (or anyone else who can answer authoritatively): where are the dividends from hardware sales? I was kind of expecting them a couple weeks ago, then I was really expecting them last week. Now I am totally uncertain when or even if they will ever be paid. I suspect a lot of other shareholders (and former shareholders) are in the same boat.

I think he paid them out already. The cubes most probably have a thin profitabilty now anymore since its gen1. So lets say 3000 are sold for a profit of 0.1BTC makes 300BTC in total for one week. Not so very much. At least thats how i think it worked.

Could be. I thought the last couple weeks were just mining plus the franchise mining. I think this goes back to the basic lack of communications. Greatly looking forward to better communications.

If you follow the feeder addresses of Asicminer then there are always not small amounts of values in it that most probably are miner sales since the prices are so made up.

I have just one question for FC (or anyone else who can answer authoritatively): where are the dividends from hardware sales? I was kind of expecting them a couple weeks ago, then I was really expecting them last week. Now I am totally uncertain when or even if they will ever be paid. I suspect a lot of other shareholders (and former shareholders) are in the same boat.

I think he paid them out already. The cubes most probably have a thin profitabilty now anymore since its gen1. So lets say 3000 are sold for a profit of 0.1BTC makes 300BTC in total for one week. Not so very much. At least thats how i think it worked.

Weren't the cubes being sold for 1BTC a piece? I'm pretty sure the profit margin is way more than 10%.

The only question I have for fc is "when is the better communication coming"? Its not that I'm too lazy to ask a reasonable question, just too lazy to ask questions that will go unanswered anyway .....

Right... he probably would pay out the whole price and when he needs money for reinvestment retract divs again.