ASICMINER: Entering the Future of ASIC Mining by Inventing It

[xuyongpku]

friedcat, What are you doing now?
In the bitcoin world, time is the money and competence, you have wasted much time to despair the investor.

[aahzmundus]

friedcat, What are you doing now?
In the bitcoin world, time is the money and competence, you have wasted much time to despair the investor.

WTF?  What have you done?  Friedcat already paid back the initial investment, and then some... everything here on out if gravy.

[Franktank]

Honestly, I'm surprised why people aren't demanding more about Gen 4/5 R&D or what the 5 year road map is (especially with the next block halving). A flawed metaphor perhaps but thinking that "next gen ASICs" is the only big payout seems a lot like "living paycheck to paycheck." Ideally, AM grows beyond that.

[Franktank]

friedcat, What are you doing now?
In the bitcoin world, time is the money and competence, you have wasted much time to despair the investor.

AM has paid out 6x IPO prices to investors. It's not his fault if you overvalued share prices. No other company allows the every day forum crawler to join in on profits, remember that.

[aahzmundus]

Honestly, I'm surprised why people aren't demanding more about Gen 4/5 R&D or what the 5 year road map is (especially with the next block halving). A flawed metaphor perhaps but thinking that "next gen ASICs" is the only big payout seems a lot like "living paycheck to paycheck." Ideally, AM grows beyond that.

Planning 6 months out in the bitcoin world is nearly the equivalent of planning 6 years ahead in the outside world if you ask me.  Ignoring that, friedcat working with Allied Control on the cooling system shows long term thought.  It will not be long before ASIC's hit the wall of the current state of chip development, and miners compete not on hardware, but on electricity and cooling costs.

Iceland and Washington state are going to be huge in the next 5 years.

[chriswilmer]

Honestly, I'm surprised why people aren't demanding more about Gen 4/5 R&D or what the 5 year road map is (especially with the next block halving). A flawed metaphor perhaps but thinking that "next gen ASICs" is the only big payout seems a lot like "living paycheck to paycheck." Ideally, AM grows beyond that.

I'm with you Franktank. I asked this a lot earlier on.

For me, it's like when I hear a startup pitch... I want to know about the short term plan, but I'm mostly interested in the long term vision. Maybe with ASICMINER the short term plan is enough though... basically, the plan is "there is a unique opportunity to make a million or so bitcoins from mining over the next two years... and then we can retire"

[Franktank]

Planning 6 months out in the bitcoin world is nearly the equivalent of planning 6 years ahead in the outside world if you ask me.  Ignoring that, friedcat working with Allied Control on the cooling system shows long term thought.  It will not be long before ASIC's hit the wall of the current state of chip development, and miners compete not on hardware, but on electricity and cooling costs.

Iceland and Washington state are going to be huge in the next 5 years.

It doesn't mean BitFountain just be a "R&D > Deploy > Enjoy Good Times > 'Mining Famine' > R&D" and repeat. Less than a couple years ago, people thought ASICs weren't feasible and the thought of developing something that was more efficient than an AMD GPU was crazy. ASICs still has quite a ways before it reaches current CPU sizes (~22nm). DeathandTaxes had a post back, talking about BTC ASIC vs. CPU. While everyone is clamoring over Gen 3, here's something to consider:

Using BitcoinClock as an estimate, the next having will be on 2016-08-25 (very likely sooner). Based on that timeline, we're looking at maybe 1 or 2 ASIC generations before it's down to 12.5 BTC a block? Preferably, it'd be nice to be ready for that.

[spinoff]

weren't we organizing another round of questions to forward to friedcat? "future plans" should certainly be on there

[neilol]

weren't we organizing another round of questions to forward to friedcat? "future plans" should certainly be on there

Agreed.

Also- did we ever get to the bottom of the preliminary specs being posted and then deleted by FC? A mistake by an underling?

[minerpumpkin]

weren't we organizing another round of questions to forward to friedcat? "future plans" should certainly be on there

Yes, keep the questions coming! I don't intend to be the victim of "you should've asked X" accusations afterwards
I will include obvious ones like "Time/Quantity of upcoming batches", "When will mining ramp up?", Something-rockminer

[VolanicEruptor]

Can we stop confusing "investors" with "new investors"?  New investors have not made 6x IPO.  Newcomers have every right to feel the way they do.  They want more information about what's going on.

[nycgoat]

friedcat working with Allied Control on the cooling system shows long term thought.  It will not be long before ASIC's hit the wall of the current state of chip development, and miners compete not on hardware, but on electricity and cooling costs.

I have been saying this for months too and fully agree with you. There will be a point (sooner rather than later) when AM and say KnC have 28nm chips with nearly identical stats.  Yes, they will both be engineering chips with smaller architecture, but at that point AM's immersion cooling, franchising and distribution networks will come into play.  

[gogxmagog]

I would like FC to address the whole rockminer thing; the ipo bought up by private parties pre-ipo, what prices are AM giving to Rockminer? how many (if any) shares of rockminer does FC own?
 I feel this rockminer deal needs total transparency, from AM's side at least, otherwise there will always be suspicions of shady insider dealing, or worse that it is an umbrella company designed to siphon prophets away from AM shareholders and into the hands of rockminer exclusively. If divs and share value continue to suffer people most definitely will begin to ask questions, wouldnt you agree..

and before the cheerleaders try to shout me down with cries of "FC has no reason to go rouge" I only ask for clarification of details and transparency. Anyone can get greedy, regardless of past preformance, thats why transparency is usually offered voluntarily...reassurance in facts rather than paranoia via conjecture. And TBH, that rockminer thing seemed a little off to me. and to address the argument that FC has significant shares in AM isnt good enough either. we saw a few sell-offs take place just before the IPO, one could still sell off shares now and cash out nicely, especially seeing as the future profits are now available through one's rockminer position.

This isnt FUD, these are my legitimate concerns. heck, I wanted in on the rockminer IPO, but as many of you found out, that was for those in the loop only it seems.

[explorer]

Can we stop confusing "investors" with "new investors"?  New investors have not made 6x IPO.  Newcomers have every right to feel the way they do.  They want more information about what's going on.

Investors were @IPO, and purchased shares from ASICMINER.  Those that purchased shares of ASICMINER from Investors are Speculators 

[Swordsoffreedom]

Can we stop confusing "investors" with "new investors"?  New investors have not made 6x IPO.  Newcomers have every right to feel the way they do.  They want more information about what's going on.

Investors were @IPO, and purchased shares from ASICMINER.  Those that purchased shares of ASICMINER from Investors are Speculators 

That is pretty much true anyone who buys shares post IPO is a speculator since they did not provide the initial capital to the company what they value it as is not AM's problem so much as building the best product possible aka long term needs vs short term shareholder concerns
Benefit of having a majority of shares owned 

[rockxie]

Hi, guys, I'm sorry to puzzle you, RockMiner is a new start-up compay which is just a business partner of ASICMINER. We are going  to purchase AM's chips to produce miners and  there will be many companies  like us. Yes,I'm a board member of ASICMINER ,but that doesn't mean I can't start my own miner business since ASICMINER is starting to sell chips. What we want to do is do our best to be the one of the most powerful partners of ASICMINER and to help ASICMINER  achieve greater goals. BTW, ASICMINER or friedcat has no shares of ROCKMINER at all. Most of ROCKMINER shares were purchased by users of this community after I posted the IPO topic. We will release board member information later at our official website of rockminer.com.

Thank you all.

-- Rockxie

[coldguy]

Hi Rockxie, thanks for this information.

Does this mean that you are going to purchase the chips at the same price as the other consumers? You are not going to have a discount somehow using your board member status?

Hi, guys, I'm sorry to puzzle you, RockMiner is a new start-up compay which is just a business partner of ASICMINER. We are going  to purchase AM's chips to produce miners and  there will be many companies  like us. Yes,I'm a board member of ASICMINER ,but that doesn't mean I can't start my own miner business since ASICMINER is starting to sell chips. What we want to do is do our best to be the one of the most powerful partners of ASICMINER and to help ASICMINER  achieve greater goals. BTW, ASICMINER or friedcat has no shares of ROCKMINER at all. Most of ROCKMINER shares were purchased by users of this community after I posted the IPO topic. We will release board member information later at our official website of rockminer.com.

Thank you all.

-- Rockxie

[Chris_Sabian]

Hi, guys, I'm sorry to puzzle you, RockMiner is a new start-up compay which is just a business partner of ASICMINER. We are going  to purchase AM's chips to produce miners and  there will be many companies  like us. Yes,I'm a board member of ASICMINER ,but that doesn't mean I can't start my own miner business since ASICMINER is starting to sell chips. What we want to do is do our best to be the one of the most powerful partners of ASICMINER and to help ASICMINER  achieve greater goals. BTW, ASICMINER or friedcat has no shares of ROCKMINER at all. Most of ROCKMINER shares were purchased by users of this community after I posted the IPO topic. We will release board member information later at our official website of rockminer.com.

Thank you all.

-- Rockxie

Thank you for the update and clarification on some of the issues that have been a topic of interest to the shareholders of AM and the community at large.

[aahzmundus]

Hi, guys, I'm sorry to puzzle you, RockMiner is a new start-up compay which is just a business partner of ASICMINER. We are going  to purchase AM's chips to produce miners and  there will be many companies  like us. Yes,I'm a board member of ASICMINER ,but that doesn't mean I can't start my own miner business since ASICMINER is starting to sell chips. What we want to do is do our best to be the one of the most powerful partners of ASICMINER and to help ASICMINER  achieve greater goals. BTW, ASICMINER or friedcat has no shares of ROCKMINER at all. Most of ROCKMINER shares were purchased by users of this community after I posted the IPO topic. We will release board member information later at our official website of rockminer.com.

Thank you all.

-- Rockxie

Thank you for the update!  I would more then welcome you posting an update now and then in this thread on how RockMiner is doing, as I think it is relevant to the overall topic.  I would watch RockMiner information directly, but a good portion of what I find is not in English.

Would you care to state the status/quantity/price of your chip order?

[bitcoin.newsfeed]

Thank you? Really? For what? Are you satisfied with this answer? Only words ... we knew all of this crap before. Numbers matters, chip selling price. Rockminer can't be preferred in chip sales.

This is what is important :

ASICMINER should rethink their approach here, and sell the chips to the highest bidders as well as mine for themselves.

I'll patiently wait for update from Jutarul or Friedcat on this.

I've asked for a clarification meeting on these issues.

EDIT : Btw sure Rockxie, you are saint. You want only help poor ASICMINER, it is not about your personal profit at all. Truth is that you'll purchase chips from anybody who will offer you better price, you mentioned this in you IPO thread, that you'll be looking also for AVALON and BITMINE chips.