ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Lohoris]

How long is it taking lately to process share transfers?

I am waiting 3rd week (request by mail), but i sent PM request via bitcointalk only last week ... so i'll be wiser on Wednesday. I'll let you know in PM then.

thanks

[darkip]

How long is it taking lately to process share transfers?

I am waiting 3rd week (request by mail), but i sent PM request via bitcointalk only last week ... so i'll be wiser on Wednesday. I'll let you know in PM then.

I sent a transfer request by email on 4th Jan and it was processed by friedcat on the 8th.

Make sure you include a signature using the address the shares are assigned to. Maybe requests are just silently ignored otherwise.

[minerpumpkin]

How long is it taking lately to process share transfers?

I am waiting 3rd week (request by mail), but i sent PM request via bitcointalk only last week ... so i'll be wiser on Wednesday. I'll let you know in PM then.

I sent a transfer request by email on 4th Jan and it was processed by friedcat on the 8th.

Make sure you include a signature using the address the shares are assigned to. Maybe requests are just silently ignored otherwise.

Maybe he/she doesn't even own shares 

[Lincoln6Echo]

Name:    friedcat
Posts:    756
Activity:    672
Position:    Donator
Date Registered:    January 16, 2012, 03:50:08 AM
Last Active:    Today at 02:32:58 AM

He logs in but posts anything? Even if he chose Mr. Gordon Freeman as PR person we would get more information about current situation! 

[ThickAsThieves]

No outside party trying to help with PR will get any further than I did. The communication breakdown is on AM's end.

Assuming there is any news to report...

[minerpumpkin]

Name:    friedcat
Posts:    756
Activity:    672
Position:    Donator
Date Registered:    January 16, 2012, 03:50:08 AM
Last Active:    Today at 02:32:58 AM

He logs in but posts anything? Even if he chose Mr. Gordon Freeman as PR person we would get more information about current situation! 

I'd guess he responds to PMs.
They need to receive test samples and verify the tape out went successful. Wait until we get news after the board meeting takes place.

[jimmothy]

Name:    friedcat
Posts:    756
Activity:    672
Position:    Donator
Date Registered:    January 16, 2012, 03:50:08 AM
Last Active:    Today at 02:32:58 AM

He logs in but posts anything? Even if he chose Mr. Gordon Freeman as PR person we would get more information about current situation! 

I'd guess he responds to PMs.
They need to receive test samples and verify the tape out went successful. Wait until we get news after the board meeting takes place.

When does the board meeting take place? And does it take place on a regular schedule?

[minerpumpkin]

No outside party trying to help with PR will get any further than I did. The communication breakdown is on AM's end.

Assuming there is any news to report...

Will there be (/was there) a board meeting this week? Jutarul mentioned one possibly being held before January is over. You'd be involved as well?

[minerpumpkin]

When does the board meeting take place? And does it take place on a regular schedule?

This is all we know (kudos to Jutarul):

You can lead a horse to water, but you can't make it drink. Improvements have been continually suggested by the board. There seems to be something internal preventing any improvements to PR or related aspects. So far the board has been very lenient with that. The way things are progressing there will likely have to be an investor forced audit at some point in time ...

There has been a request for a board meeting a few days ago - I expect friedcat to be busy right now and be available for a meeting before 30-Jan-14 (but don't hold me liable for that date).

Does TAT know more/can confirm?

[jimmothy]

When does the board meeting take place? And does it take place on a regular schedule?

This is all we know (kudos to Jutarul):

You can lead a horse to water, but you can't make it drink. Improvements have been continually suggested by the board. There seems to be something internal preventing any improvements to PR or related aspects. So far the board has been very lenient with that. The way things are progressing there will likely have to be an investor forced audit at some point in time ...

There has been a request for a board meeting a few days ago - I expect friedcat to be busy right now and be available for a meeting before 30-Jan-14 (but don't hold me liable for that date).

Does TAT know more/can confirm?

Thanks. Looks to me like jutarul pulled that number out of thin air but he does know better than any of us non-board members. Either way I think if enough people bug FC he will give us an update even if it doesn't include any real progress.

[Jutarul]

Thanks. Looks to me like jutarul pulled that number out of thin air but he does know better than any of us non-board members. Either way I think if enough people bug FC he will give us an update even if it doesn't include any real progress.

It's not pulled out of thin air, it's another deadline which FC committed to (actually it's 31-Jan), so I expect some update coming from him around that date. Otherwise the board obviously has to inquire about the delay (and do something about it).

[papiraul]

Well someone is buying up cheap shares from all the panic sales

[minerpumpkin]

Thanks. Looks to me like jutarul pulled that number out of thin air but he does know better than any of us non-board members. Either way I think if enough people bug FC he will give us an update even if it doesn't include any real progress.

It's not pulled out of thin air, it's another deadline which FC committed to (actually it's 31-Jan), so I expect some update coming from him around that date. Otherwise the board obviously has to inquire about the delay (and do something about it).

Nice insight. I can only underline the need for such an update for the non-board investors, i.e. this forum! Be it just a heads up on the progress and the next vague steps/milestones.

Which makes me wonder, what kind of leverage does the board have? How could they influence the direction AM is going? Is there any distributed power (i.e. multiple signatures for wallets, etc...)?

[ThickAsThieves]

We are largely an advisory board, and as I've said several times in the past, you all vastly overestimate the amount of info that is exclusive to the board.

There has never been a board meeting that I can recall that resulted in any notable buying or selling of shares.

Things just aren't as sexy or dramatic as some would like to believe, sorry.

[Jutarul]

Nice insight. I can only underline the need for such an update for the non-board investors, i.e. this forum! Be it just a heads up on the progress and the next vague steps/milestones.

Major milestones have been out there for a while - I know things develop fast in bitcoin world and information which is about 2 months old feels ancient - but it's not when you look at it from a development cycle point of view...

Which makes me wonder, what kind of leverage does the board have? How could they influence the direction AM is going? Is there any distributed power (i.e. multiple signatures for wallets, etc...)?

All executive decisions are with friedcat and his team, and as such the board has only advisory capacity. The leverage is "accountability" in a general sense, and the most prominent benchmark is dividend payments. Of course there is the need for further benchmarks. No measures have been taken to distribute power across the shareholder base.

[vortex1878]

Nice insight. I can only underline the need for such an update for the non-board investors, i.e. this forum! Be it just a heads up on the progress and the next vague steps/milestones.

Major milestones have been out there for a while - I know things develop fast in bitcoin world and information which is about 2 months old feels ancient - but it's not when you look at it from a development cycle point of view...

Which makes me wonder, what kind of leverage does the board have? How could they influence the direction AM is going? Is there any distributed power (i.e. multiple signatures for wallets, etc...)?

All executive decisions are with friedcat and his team, and as such the board has only advisory capacity. The leverage is "accountability" in a general sense, and the most prominent benchmark is dividend payments. Of course there is the need for further benchmarks. No measures have been taken to distribute power across the shareholder base.

We are largely an advisory board, and as I've said several times in the past, you all vastly overestimate the amount of info that is exclusive to the board.

There has never been a board meeting that I can recall that resulted in any notable buying or selling of shares.

Things just aren't as sexy or dramatic as some would like to believe, sorry.

Do the board-members have any share of the income of BITMAIN? Is there any relation?

Not imputing anything but just would like to see some statement on this..!

I doubt that the board-members only have an advisory capacity. What's the point then? Board-members should have full voting rights for any major decisions...

[minerpumpkin]

Alright. Thanks to both of you for helping to put things in focus a bit more! 
I'll keep my eyes open for news then. And, again, please advise FC to release at least a short heads up and maybe tentative timeframes for the upcoming milestones (chip production, deployment,...)

[TiuraZ]

I doubt that the board-members only have an advisory capacity. What's the point then? Board-members should have full voting rights for any major decisions...

What's the point in voting if the board members together own less than 50% of shares? Friedcat and his team control majority of shares and votes and can do whatever they want with the company.

[Jutarul]

Do the board-members have any share of the income of BITMAIN? Is there any relation?

Not imputing anything but just would like to see some statement on this..!

I have no information pertaining BITMAIN. It will certainly be a topic in one of the next meetings.
Do you have a list of questions which need answers? If so please share them. PM works.

I doubt that the board-members only have an advisory capacity. What's the point then? Board-members should have full voting rights for any major decisions...

You overestimate the effectiveness of voting rights.
1) The majority of "voting rights" are held by the current management team of bitfountain
2) Even if you organize a large minority, what are you going to do? Force the engineers to come up with a competitive product? Undo bad business decisions (which were not obvious at the time)?

No - the only way you achieve something is by enforcing accountability, because conduct is not susceptible to majority rights. And as mentioned above, we need more benchmarks than just the dividend payments.

[minerpumpkin]

Since Jutarul just offered vortex1878 (and us?) to submit a list of questions for Friedcat to answer at the next ASICMiner board meeting, I thought we should just go ahead and compile one. I think we should limit ourselves to about 5 questions, keep them simple, no convoluted questions, no suggestive or yes/no questions.
Feel free to add suggestions. I'll forward them to Jutarul or he may be taking them directly from the post in case of a surprise board-meeting.

My suggestions:

• What is the current status of the 3rd generation chips?
• What are the estimated time frames for, respectively, producing and deploying the 3rd generation chips and hardware?
• There seems to be a certain resemblance of BITMAIN's mining hardware to ASICMiner's. Is ASICMiner affiliated with BITMAIN in any way? If yes, how?
• What are the reasons for the drastically reduced rate and amount of communication coming from ASICMiner over the last couple of months?