ASICMINER: Entering the Future of ASIC Mining by Inventing It

[jimmothy]

Actually it is you living in cloud Cookoo land, before you start crying about trolling, companies have a LEGAL responsibility for disclosure. 'secret' and 'non-disclosure' is a BULLSHIT cloud from which 'rip off' and 'con man' operate.

There is something called corporate responsibility, and certainly from my research into operations in Hong Kong, bitcoin operations are nearly always being operated illegally.
Problem is… that WITH A PROPERLY REGISTERED BUSINESS the Government actually indemnifies investors to a certain degree.
But they do demand that a company trading shares meets certain rules are related to accountancy, and in fact any PERSON trading shared in a HK' entity'/ 'instrument'  or indeed giving financial advice without proper regulatory approval can end up with a 5 year jail term, and a money laundering tag/investigation for anyone involved or invested with such companies.
And yes…. Publishing spreadsheets is considered  'giving advice' if the data contained in them has not been correctly audited by a CPA or they do not comply to the accountancy standards of Hong Kong, is also illegal.

Yep … operating out of Kwai Chung in HK does qualify the business to need proper registration AND FULLY COMPLY with HK regulation for disclosure of business details and accountancy standards.

So far I have only seen a couple of correctly registered bit-coin businesses in HK and in both cases the guys are completely open about their dealings.

Bitmit was another example of a bunch of mainland cowboys operating illegally out of HK…..

If you think AM "PROPERLY REGISTERED AS A BUSINESS" would mean the Chinese / HK government paying us money if FC ran off with all our bitcoins you are living in cloud cuckoo land, sorry.

We chose to trust AM, that's all. One day they may abuse that trust but it hasn't happened yet. Fingers crossed they keep "straight" for another 2-3 years and we will all do well.

Also, about communication. I do want to get more communication from AM, who doesn't. But its not because I'm thinking "he's not communicating, I bet he's planning to run off with all our bitcoins". I just want more info so I can make relatively informed investment decisions, and not the current "virtual vacuum of information" we have now.

Lots of con artists post loads and loads to their "investors" ands then .... poof - never hear from them again 

Wasn't Labcoin a "properly registered business" in HONG KONG?? Remember how great labcoin PR was until about a month ago?

[empoweoqwj]

Fingers crossed they keep "straight" for another 2-3 years and we will all do well.

Does this ever keep you up nights?  
Every once in a while I get to calculating, and can't let it go  
Dreams of prolific franchised containers full of boiling coolant -  forming 10% of the network. 2 years down the road, bitcoin has 2 more zeros to its valuation. Dividend x BTC x HOW many shares?  Mind=Blown

AM potential is imense. I am very happy to be onboard, regardless of share price.

Lol, no I don't worry at night about AM disappearing. I worry about  things I can control in life. Which isn't a great deal I admit ;-)

The Chinese news is a big deal though. It has put a stop to people actually *using* bitcoin in China to buy things. Baidu have stopped accepting it already. That's bad news for what we hoped would be widespread adoption in potentially the biggest market in the world.

[empoweoqwj]

One thing though ....

when bitcoin has a big rally, everyone comes out with their rationale for why the AM share price drops .... fair enough.

But when bitcoin suffers a "correction", the AM share price also drops.

I don't think we need complicated theories, explanations and discussions for why AM share prices drop both whilst bitcoin is in boom or bust mood.

The only thing we need to know is AM share price is constantly dropping, and has been since July. BTC/$ exchange rate ain't relevant.

I'd buy some more AM shares now, but with another 2-3 months before Gen3 is close to happening ......... I can see some real bargain prices coming up soon

[jimmothy]

Fingers crossed they keep "straight" for another 2-3 years and we will all do well.

Does this ever keep you up nights?  
Every once in a while I get to calculating, and can't let it go  
Dreams of prolific franchised containers full of boiling coolant -  forming 10% of the network. 2 years down the road, bitcoin has 2 more zeros to its valuation. Dividend x BTC x HOW many shares?  Mind=Blown

AM potential is imense. I am very happy to be onboard, regardless of share price.

Lol, no I don't worry at night about AM disappearing. I worry about  things I can control in life. Which isn't a great deal I admit ;-)

The Chinese news is a big deal though. It has put a stop to people actually *using* bitcoin in China to buy things. Baidu have stopped accepting it already. That's bad news for what we hoped would be widespread adoption in potentially the biggest market in the world.

I thought that was sensationalized news and they actually said it cannot be used as currency but can be used at their own risk. Baidu said they stopped accepting bitcoin because they were unsure of the situation.

[empoweoqwj]

I'd buy some more AM shares now, but with another 2-3 months before Gen3 is close to happening ......... I can see some real bargain prices coming up soon

  sshhhhh!

its  alright - there will be another 40 pages of crap to wade through before I get round to buying, and nobody will care (or even read) in January what people said in December. That's the beautiful world of bitcoin

[empoweoqwj]

Fingers crossed they keep "straight" for another 2-3 years and we will all do well.

Does this ever keep you up nights?  
Every once in a while I get to calculating, and can't let it go  
Dreams of prolific franchised containers full of boiling coolant -  forming 10% of the network. 2 years down the road, bitcoin has 2 more zeros to its valuation. Dividend x BTC x HOW many shares?  Mind=Blown

AM potential is imense. I am very happy to be onboard, regardless of share price.

Lol, no I don't worry at night about AM disappearing. I worry about  things I can control in life. Which isn't a great deal I admit ;-)

The Chinese news is a big deal though. It has put a stop to people actually *using* bitcoin in China to buy things. Baidu have stopped accepting it already. That's bad news for what we hoped would be widespread adoption in potentially the biggest market in the world.

I thought that was sensationalized news and they actually said it cannot be used as currency but can be used at their own risk. Baidu said they stopped accepting bitcoin because they were unsure of the situation.

But they have stopped. I don't think Baidu got "sensationalized" because the announcement was made in Chinese and they got the wrong end of the stick because of language difficulties 

[Puppet]

Wasn't Labcoin a "properly registered business" in HONG KONG??

Nope.
I-techpro (or something) was, but the CEO and sole shareholder of that company denied any involvement, responsibility or barely even any knowledge of labcoin.

[Zubilica]

Update

Next Gen Chips
The projected time of taping out of Gen3 is January 20. Power consumption target estimation is <0.2W per G on low power mode and <0.2$ per G on wafer cost. Please notice that the timeline is of course subject to change/adjust, and the estimation on power and cost is also based on software tool/simulation results.

Can anyone estimate after tape out , how much time will pass until chips are hashing in AM farm?

I know KNC said on July 30, 2013, that they did a tape out a some time ago, but they deliver the final product only October so i believe there are at least 3 months from tape out to hashing.

Please tell me if I'm mistaken, but we will see gen3 chips hashing and of April, beginning of May. Assuming everything goes smooth.

[Puppet]

Can anyone estimate after tape out , how much time will pass until chips are hashing in AM farm?

I know KNC said on July 30, 2013, that they did a tape out a some time ago, but they deliver the final product only October so i believe there are at least 3 months from tape out to hashing.

Please tell me if I'm mistaken, but we will see gen3 chips hashing and of April, beginning of May. Assuming everything goes smooth.

2-3 months should be considered a realistic minimum between tape out and deployment for normal production runs (ie without paying extra for hotlots) and assuming no serious issues anywhere with either design or supply chain. Hot lots might shave a few weeks off that, but reality usually adds more.

OTOH, if this chip will be 20nm like KnC's latest announcement, it might be considerbly longer. 20nm mask creation is slower due to the need for double patterning, and the whole process is still very new and not as well understood as mature processes. For a 20nm product anything before early Q3 seems extremely optimistic to me. (That also applies to KnC, Im not buying their Q1/2 claims).

FWIW.

[empoweoqwj]

I'm wondering what AM can do to "fill the void" before Gen3 in March or more likely April?

They've done 1D (USB stick) ,2D (blades), and 3D (cubes) to keep the income coming in with old technology. What's next? More cubes or .... something in 4D perhaps? 4th dimension is time right, so the solution is obviously a time machine to travel 4 months forward to April and get the Gen3 chips populating their lovely new wet datacenter  

If anyone has any sensible suggestions for how AM will fill the 4-month void, love to hear them.

Would put it forward as a question to AM but questions to AM end up in the void as well unfortunately ......  

[aahzmundus]

Hopefully they are setting up the spaces for Gen3.  Gen1 ran into the issue of us having the hardware but no place to put it, this is one of the reasons (I believe) franchising and sales started.

With more lead time, and some experience under the belt, I would imagine we are accounting for this.

Or in other words... it is going to be a long 3 months.

[ThunderSheep]

I'm wondering what AM can do to "fill the void" before Gen3 in March or more likely April?

They've done 1D (USB stick) ,2D (blades), and 3D (cubes) to keep the income coming in with old technology. What's next? More cubes or .... something in 4D perhaps? 4th dimension is time right, so the solution is obviously a time machine to travel 4 months forward to April and get the Gen3 chips populating their lovely new wet datacenter  

If anyone has any sensible suggestions for how AM will fill the 4-month void, love to hear them.

Would put it forward as a question to AM but questions to AM end up in the void as well unfortunately ......  

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.

Going over the posts since the last official update on November 22, I've compiled the following list.

• When can we expect an official public relations appointment and what channels will be used to announce information?
• What is the size of the first Gen 3 deployment and when is it expected?
• How will Gen 3 be divided between mining, franchising and hardware sales?
• What process size does Gen 3 use?
• What will happen after all cubes are sold?  Will there be anything coming between now and the first Gen 3 deployment?
• Have dividends been paid out to shareholders for the cube sales yet?

That question has already been submitted to Friedcat by ThickAsThieves.  Personally, I'm quite interested to know the answer to this, as well.

Edit: I don't expect to receive an answer before the regular update on the 22nd or 23rd of the month.

[ThickAsThieves]

I'm wondering what AM can do to "fill the void" before Gen3 in March or more likely April?

They've done 1D (USB stick) ,2D (blades), and 3D (cubes) to keep the income coming in with old technology. What's next? More cubes or .... something in 4D perhaps? 4th dimension is time right, so the solution is obviously a time machine to travel 4 months forward to April and get the Gen3 chips populating their lovely new wet datacenter  

If anyone has any sensible suggestions for how AM will fill the 4-month void, love to hear them.

Would put it forward as a question to AM but questions to AM end up in the void as well unfortunately ......  

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.

Going over the posts since the last official update on November 22, I've compiled the following list.

• When can we expect an official public relations appointment and what channels will be used to announce information?
• What is the size of the first Gen 3 deployment and when is it expected?
• How will Gen 3 be divided between mining, franchising and hardware sales?
• What process size does Gen 3 use?
• What will happen after all cubes are sold?  Will there be anything coming between now and the first Gen 3 deployment?
• Have dividends been paid out to shareholders for the cube sales yet?

That question has already been submitted to Friedcat by ThickAsThieves.  Personally, I'm quite interested to know the answer to this, as well.

Edit: I don't expect to receive an answer before the regular update on the 22nd or 23rd of the month.

The questions were all fielded by Friedcat and he knows how he wants to answer.

Still awaiting his post though.

[FWGR]

Update

PR & Communications
We understand that transparency and communication to shareholders and the public needs improvement. We are in the process of identifying a dedicated employee for this. We will issue bi-weekly reports for shareholders and improve response time for questions.

Has somebody been designated for this position yet? When can we expect these bi-weekly reports to begin?

[ThunderSheep]

Have a look at the post immediately above yours.

[FWGR]

Have a look at the post immediately above yours.

...
....

No, that's just what they'd be expecting us to do.

My bad, sorry.

[ThunderSheep]

Lol.  No worries.

I hope the PR appointee knows better than to use terms like bi-weekly.  That's just going to lead to confusion amongst the shareholders about whether updates should be every two weeks or twice a week.  Only in the world of Bitcoin would I expect that to be a problem.  Personally, I'd like to see Jutarul get the job.  Even when things are most heated and the attacks get personal, he or she always posts calmly and rationally and the posts are clear and intelligent.

[FWGR]

Well, as long as they abide by it that's fine.  Bi-weekly would have made last Friday, the 6th, the date that an update should be posted.  I was actually taking that into consideration while making trades, which is why I wish they'd stick to the numbers with updates when they use terms like that.  That said, I am pretty embarrassed that I didn't notice that question on the list above my post. 

[stripykitteh]

I'm wondering what AM can do to "fill the void" before Gen3 in March or more likely April?

They've done 1D (USB stick) ,2D (blades), and 3D (cubes) to keep the income coming in with old technology. What's next? More cubes or .... something in 4D perhaps? 4th dimension is time right, so the solution is obviously a time machine to travel 4 months forward to April and get the Gen3 chips populating their lovely new wet datacenter  

If anyone has any sensible suggestions for how AM will fill the 4-month void, love to hear them.

Would put it forward as a question to AM but questions to AM end up in the void as well unfortunately ......  

I think they're stuck with the tech they've got until April. I recall reading something ages ago that their own cost to manufacture was something like $10K/TH. If we assume an average price of $500/btc over the next few months and plug the numbers in that's a manufacturing cost of 0.02btc/GH. Perhaps that manufacturing cost is wrong or perhaps they put in a big order and got a volume discount, but I don't think there's a lot of margin left in the current tech if the Cube is priced at ~0.06btc/GH.

Hopefully they've already withheld enough profits that their NRE costs for Gen 3 are covered as I don't see huge profits ahead in the next few months.

[vortex1878]

Apart from that your calculations are wrong everywhere (no I don't care to give details as just everything is wrong) - I cannot believe you actually ask the question if AM really kept enough BTC to cover future costs. Did you see the financial report? Rhetorical question.

I was used to a much higher quality of your posts. Do you try to buy in cheap with such a pathetic approach? FUD galore...

I'm wondering what AM can do to "fill the void" before Gen3 in March or more likely April?

They've done 1D (USB stick) ,2D (blades), and 3D (cubes) to keep the income coming in with old technology. What's next? More cubes or .... something in 4D perhaps? 4th dimension is time right, so the solution is obviously a time machine to travel 4 months forward to April and get the Gen3 chips populating their lovely new wet datacenter  

If anyone has any sensible suggestions for how AM will fill the 4-month void, love to hear them.

Would put it forward as a question to AM but questions to AM end up in the void as well unfortunately ......  

I think they're stuck with the tech they've got until April. I recall reading something ages ago that their own cost to manufacture was something like $10K/TH. If we assume an average price of $500/btc over the next few months and plug the numbers in that's a manufacturing cost of 0.02btc/GH. Perhaps that manufacturing cost is wrong or perhaps they put in a big order and got a volume discount, but I don't think there's a lot of margin left in the current tech if the Cube is priced at ~0.06btc/GH.

Hopefully they've already withheld enough profits that their NRE costs for Gen 3 are covered as I don't see huge profits ahead in the next few months.