ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Jutarul]

Obviously, as long as they don't sell equipment anymore for BTC. Until BTC is completely outlawed. Oh my, the poor AM share price....

If they are under China's law (because that I am asking if they are) ... you're right that they aren't allowed to sell hardware for bitcoins anymore ... but they can sell it for CNY ... but where they want to exchange so massive amounts of CNY in future if exchanges will be not allowed to take bank transfers? What the ... mess

principally, the franchise business model would completely bypass the regulation, since there is no purchase involved. It's more or less a hosting agreement which never involves any cash flow (since bitcoin is not considered currency).

[velacreations]

The PBOC also said that merchants could no longer price their goods and services in bitcoin and couldn’t exchange their wares for bitcoin.

do you have a link to the PBOC statement?

[VTC]

Can someone tell me why friedcat is no longer processing AM transfers?

I would like to know as well.

[chriswilmer]

Can someone tell me why friedcat is no longer processing AM transfers?

I would like to know as well.

Where did you get this idea? He processed a lot of AM transfers last week... and he usually does it once a week...

[DiabloD3]

Can someone tell me why friedcat is no longer processing AM transfers?

I would like to know as well.

Where did you get this idea? He processed a lot of AM transfers last week... and he usually does it once a week...

He has not responded to me in PM, I have several transfers that have not gone through for several weeks now. I don't know whats going on.

[Voodah]

Obviously, as long as they don't sell equipment anymore for BTC. Until BTC is completely outlawed. Oh my, the poor AM share price....

If they are under China's law (because that I am asking if they are) ... you're right that they aren't allowed to sell hardware for bitcoins anymore ... but they can sell it for CNY ... but where they want to exchange so massive amounts of CNY in future if exchanges will be not allowed to take bank transfers? What the ... mess

principally, the franchise business model would completely bypass the regulation, since there is no purchase involved. It's more or less a hosting agreement which never involves any cash flow (since bitcoin is not considered currency).

Importing legally might prove not so easy.

[chriswilmer]

Can someone tell me why friedcat is no longer processing AM transfers?

I would like to know as well.

Where did you get this idea? He processed a lot of AM transfers last week... and he usually does it once a week...

He has not responded to me in PM, I have several transfers that have not gone through for several weeks now. I don't know whats going on.

I corresponded with him by e-mail last week to clear up an AM share transfer. Everything worked out just fine... sorry to hear you are having trouble though.

[Jutarul]

principally, the franchise business model would completely bypass the regulation, since there is no purchase involved. It's more or less a hosting agreement which never involves any cash flow (since bitcoin is not considered currency).

Importing legally might prove not so easy.

Elaborate please. Not sure what you're referring to with "importing legally".

[Voodah]

principally, the franchise business model would completely bypass the regulation, since there is no purchase involved. It's more or less a hosting agreement which never involves any cash flow (since bitcoin is not considered currency).

Importing legally might prove not so easy.

Elaborate please. Not sure what you're referring to with "importing legally".

Nothing. My bad. It was a mind fart.

[hdbuck]

 ohoh   http://www.reddit.com/r/Bitcoin/comments/1t15hy/this_is_much_worse_than_dec_5_conformation_and/

[DiabloD3]

Can someone tell me why friedcat is no longer processing AM transfers?

I got last wednesday and the wednesday before mails form friedcat claiming he moved shares. Always before the divs. Maybe try a different email because you might be in a spamfolder?

I don't do it through email, I do it through forum PM. The forum doesn't have spam filtering. Has he announced hes no longer checking forum PMs?

[Endlessa]

The PBOC also said that merchants could no longer price their goods and services in bitcoin and couldn’t exchange their wares for bitcoin.

do you have a link to the PBOC statement?

Don't go off all half-cocked people:

http://www.reddit.com/r/Bitcoin/comments/1s61x1/what_the_actual_chinese_notice_not_summary_says/

[Equilux]

The PBOC also said that merchants could no longer price their goods and services in bitcoin and couldn’t exchange their wares for bitcoin.

do you have a link to the PBOC statement?

Don't go off all half-cocked people:

http://www.reddit.com/r/Bitcoin/comments/1s61x1/what_the_actual_chinese_notice_not_summary_says/

Thanks for that link!

[explorer]

The PBOC also said that merchants could no longer price their goods and services in bitcoin and couldn’t exchange their wares for bitcoin.

do you have a link to the PBOC statement?

Don't go off all half-cocked people:

http://www.reddit.com/r/Bitcoin/comments/1s61x1/what_the_actual_chinese_notice_not_summary_says/

Thanks for that link!

looks like that was from 10 days ago? not the recent news?

[Endlessa]

The PBOC also said that merchants could no longer price their goods and services in bitcoin and couldn’t exchange their wares for bitcoin.

do you have a link to the PBOC statement?

Don't go off all half-cocked people:

http://www.reddit.com/r/Bitcoin/comments/1s61x1/what_the_actual_chinese_notice_not_summary_says/

Thanks for that link!

looks like that was from 10 days ago? not the recent news?

please link to the "more recent" one, cuz it seems like peeps are just rehashing the same on for 10 days

[Endlessa]

The PBOC also said that merchants could no longer price their goods and services in bitcoin and couldn’t exchange their wares for bitcoin.

do you have a link to the PBOC statement?

Don't go off all half-cocked people:

http://www.reddit.com/r/Bitcoin/comments/1s61x1/what_the_actual_chinese_notice_not_summary_says/

Thanks for that link!

looks like that was from 10 days ago? not the recent news?

please link to the "more recent" one, cuz it seems like peeps are just rehashing the same on for 10 days

If you mean this:
http://forexmagnates.com/china-bans-payment-firms-from-working-with-bitcoin-exchanges/

then:
It's just the bank expressing what the chinese government expressed,  Banks and traditional money services are being walled off from bitcoin. their fear is that if bitcoin fails, the gov would have to prop it up to keep their currency from going down with it.  China will have to find a "local bitcoins" type solution to get into bitcoin. . .or buy miners.  Products have to be denominated in Yuan, but it doesn't mean that can't be converted to a bitcoin value for payment.  Unless you have another source that is a quote from a quote.

basically people can do bitcoins, but china's financial system has to stay the fuck out of it, because at this point they want to take a wait and see if it fails, before trusting their economy to it

Edit: further more, buying a miner with btc to mine btc is pointless.  BUT, buying one with fiat to get BTC is why they exist in the first place.  The model of selling miners for BTC is a fail model, AM could really use this to it's advantage, if they can capitalize in yuan. then leave their mining profits in BTC, but use yuan to pay their supply line

[velacreations]

Edit: further more, buying a miner with btc to mine btc is pointless.  BUT, buying one with fiat to get BTC is why they exist in the first place.  The model of selling miners for BTC is a fail model, AM could really use this to it's advantage, if they can capitalize in yuan. then leave their mining profits in BTC, but use yuan to pay their supply line

I agree with this.  We may see an increase in demand for mining equipment in China.

[empoweoqwj]

Wouldn't potential investors dilute AM-share profits/dividends? Or is this a good thing (stability, bigger ventures,...)?

Depends on what they are investing in.  Right now the BTC community sees little reason to invest in AM because they basically aren't performing, so curious to see why others would pile money into this venture right now.

The BTC community is incredibly short-sighted. Investors are called investors for a reason. They look beyond a week.

[empoweoqwj]

I do believe its December 17th in Asia. I should know really as I live here 

Let's hope we get some kind of well-translated report from the meeting, but I guess it might all be private?

[minerpumpkin]

I do believe its December 17th in Asia. I should know really as I live here 

Let's hope we get some kind of well-translated report from the meeting, but I guess it might all be private?

I think FC is acquiring people/companies/investors who will be buying the gen 3 chips for use in their own equipment and/or franchised hosting. I don't we'll be seeing a fully-fledged report but rather (maybe) a side note in an upcoming announcement "a meeting has been held to discuss deployment of gen 3 hardware"