ASICMINER: Entering the Future of ASIC Mining by Inventing It

[willBTC]

Does AM frequently disappear from blockchain.info's mining charts? I don't see it on the piechart..

Yes because it has just enough hashrate to show up (1%). Even less than 1% recently. Will likely jump back to 10% with the launch of gen3.

10% is not quite possible, 5% is more possible. Cause Friedcat willing to sell most of total hashrate (400p-1600p) .

[jimmothy]

Does AM frequently disappear from blockchain.info's mining charts? I don't see it on the piechart..

Yes because it has just enough hashrate to show up (1%). Even less than 1% recently. Will likely jump back to 10% with the launch of gen3.

10% is not quite possible, 5% is more possible. Cause Friedcat willing to sell most of total hashrate (400p-1600p) .

We could see 10% solomining hashrate for a while right when gen3 is released. Considering 1 immersion cooled datacenter can hold 1ph or more I think it is possible.

But I agree that they have no chance of maintaining 10% in a network with over 1000ph. 100ph would require too much electricity for one operation alone (unless its cex.io or someone else swimming in cash).

But they don't need to mine with their own hardware. By selling it they would get more btc than it will earn in its lifetime upfront without the need to keep them running.

So they may not be able to maintain a large portion of the network with their own solomining but with hardware sales they could easily earn much more than 10% would earn mining alone.

[necro_nemesis]

Methinks it would be best to sell ASICs when their value is high and mine ASICs when their yield remains positive and selling no longer provides best ROI.

A profound rise in BTC 's price could have an effect on one's approach to this issue.

[hdbuck]

Methinks it would be best to sell ASICs when their value is high and mine ASICs when their yield remains positive and selling no longer provides best ROI.

methinks thats exactly the way it is going to be done.

edit: plus they get to do both with franchisees

[chriswilmer]

So, what's the probability that we'll get a friedcat update in the next 7 days? I'm trying to decide how long to hold my breath...

[necro_nemesis]

Me also thinks shareholders should get preferential pricing on ASIC's.  

This would be a great incentive for owning stock.

[mb300sd]

Me also thinks shareholders should get preferential pricing on ASIC's. 

This would be a great incentive for owning stock.

Shareholders already get a rebate for purchasing ASICs through dividends.

[necro_nemesis]

Me also thinks shareholders should get preferential pricing on ASIC's.  

This would be a great incentive for owning stock.

Shareholders already get a rebate for purchasing ASICs through dividends.

Agreed, but you also want to attract new investors and I'd argue those who have an interest in mining would be the same who have interest in AM.

Edit:

I would think it's in as much if not more strategic interest for Bitfountain to see the price of it's shares rise as it is to see profits from any of it's business.

My understanding is AM accounts for 163,962 virtual whole shares of Bitfountain's 236,038 total shares. I assume the remainder of Bitfountain shares could be sold off in a conversion to AM shares at some point in the future when the conditions are favorable. If AM shares are valued considerably higher it presents a tremendous return for the holder of Bitfoundtain's shares in selling off shares in the conversion.

The news release of the ASIC presents itself as an opportune time to promote the stock through providing a benefit to AM shareholders.

[eastpk]

Me also thinks shareholders should get preferential pricing on ASIC's.  

This would be a great incentive for owning stock.

Shareholders already get a rebate for purchasing ASICs through dividends.

Agreed, but you also want to attract new investors and I'd argue those who have an interest in mining would be the same who have interest in AM.

Edit:

I would think it's in as much if not more strategic interest for Bitfountain to see the price of it's shares rise as it is to see profits from any of it's business.

My understanding is AM accounts for 163,962 virtual whole shares of Bitfountain's 236,038 total shares. I assume the remainder of Bitfountain shares could be sold off in a conversion to AM shares at some point in the future when the conditions are favorable. If AM shares are valued considerably higher it presents a tremendous return for the holder of Bitfoundtain's shares in selling off shares in the conversion.

The news release of the ASIC presents itself as an opportune time to promote the stock through providing a benefit to AM shareholders.

I'm a bit confused as to your statement in bold, going back to the first post in the thread....

Introduction
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.

So I dont think that AM accounts for 163,962 virtual whole shares of Bitfountain's 236,038... I think they are seperate - Bitfountain owns 236,038 - then AM has 163,962 shares that are up for purchase. Can someone please correct me if I'm wrong?

I also don't think it would be a great idea to offer discounts to anyone who owns shares... for example - if I owned some shares in Tesla, does that give me the right to have a discount on a car simply because I own shares? Just because one is investing in AM does not give the right to cheaper mining - I understand that would be great, but I don't see the positive for AM when they do this.

[Franktank]

So I dont think that AM accounts for 163,962 virtual whole shares of Bitfountain's 236,038... I think they are seperate - Bitfountain owns 236,038 - then AM has 163,962 shares that are up for purchase. Can someone please correct me if I'm wrong?

I also don't think it would be a great idea to offer discounts to anyone who owns shares... for example - if I owned some shares in Tesla, does that give me the right to have a discount on a car simply because I own shares? Just because one is investing in AM does not give the right to cheaper mining - I understand that would be great, but I don't see the positive for AM when they do this.

There are 400k total shares, of which only 163,962 shares are floated by the public (PT, IPO investors, direct minority shareholders, etc). Each share as voting power; however it doesn't mean much as more than 51% of all shares are held by Bitfountain. Board members are those who hold 5000 shares in their possession, they receive minor updates on what appears to be a weekly basis. Note these updates are not significant, more like "things are still on schedule." Any board members who think otherwise is free to correct me. To all newcomers, I would highly suggest to all reading all of friedcat's posts from Aug 2012 onwards before "investing."

[eastpk]

So I dont think that AM accounts for 163,962 virtual whole shares of Bitfountain's 236,038... I think they are seperate - Bitfountain owns 236,038 - then AM has 163,962 shares that are up for purchase. Can someone please correct me if I'm wrong?

I also don't think it would be a great idea to offer discounts to anyone who owns shares... for example - if I owned some shares in Tesla, does that give me the right to have a discount on a car simply because I own shares? Just because one is investing in AM does not give the right to cheaper mining - I understand that would be great, but I don't see the positive for AM when they do this.

There are 400k total shares, of which only 163,962 shares are floated by the public (PT, IPO investors, direct minority shareholders, etc). Each share as voting power; however it doesn't mean much as more than 51% of all shares are held by Bitfountain. Board members are those who hold 5000 shares in their possession, they receive minor updates on what appears to be a weekly basis. Note these updates are not significant, more like "things are still on schedule." Any board members who think otherwise is free to correct me. To all newcomers, I would highly suggest to all reading all of friedcat's posts from Aug 2012 onwards before "investing."

+1

Thank you sir - exactly what I thought....

I'm sure aahzmundus' post will help bring new people up to speed!

[necro_nemesis]

Thanks for the clarification on distribuition of shares. Seen 163,962 + 236,038 = 400,000.

40/60% split with Bitfountain having controlling interest.

[whalezy]

News from a Chinese miner forum:http://cybtc.com/article-655-1.html

Rockxie, who is the exclusive distributer for Asicminer's mining machine in China, announced that he will produce his own miners.
The sample miner will be availble in April and the chips would be AM's Gen3.

specification: AM gen3 chips, 40nm, 1TH, 500W.

[rudi]

specification: AM gen3 chips, 40nm, 1TH, 500W.

So more than twice the power efficiency of the closest competitor? Wow!

[Kosmatos]

News from a Chinese miner forum:http://cybtc.com/article-655-1.html

Google Translate brings up information about a 'roast cat'. 

[Zubilica]

Kamoom . First asic mining are already leased or deployed , we all have seen the the network test a few days ago )

[minerpumpkin]

From the translation of http://cybtc.com/article-655-1.html:

he has created a baked cat mining machine

If I didn't knew what they're talking about, I'd now be worried...

[Chris_Sabian]

News from a Chinese miner forum:http://cybtc.com/article-655-1.html

Rockxie, who is the exclusive distributer for Asicminer's mining machine in China, announced that he will produce his own miners.
The sample miner will be availble in April and the chips would be AM's Gen3.

specification: AM gen3 chips, 40nm, 1TH, 500W.

I would like to purchase 4 of them...

[Teodor]

News from a Chinese miner forum:http://cybtc.com/article-655-1.html
Rockxie, who is the exclusive distributer for Asicminer's mining machine in China, announced that he will produce his own miners.
The sample miner will be availble in April and the chips would be AM's Gen3.
specification: AM gen3 chips, 40nm, 1TH, 500W.

I would like to purchase 4 of them...

Now I can buy 1.2TH machine with 28nm Bitmine A1 chips for the price of 4800$, so depends of their prices...

[chriswilmer]

News from a Chinese miner forum:http://cybtc.com/article-655-1.html
Rockxie, who is the exclusive distributer for Asicminer's mining machine in China, announced that he will produce his own miners.
The sample miner will be availble in April and the chips would be AM's Gen3.
specification: AM gen3 chips, 40nm, 1TH, 500W.

I would like to purchase 4 of them...

Now I can buy 1.2TH machine with 28nm Bitmine A1 chips for the price of 4800$, so depend of the prices...

What's the power rating on one of those?