ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Caesium]

Where are money from April 850k batch? Its millions ... Maybe Friedcat is waiting for China banning Bitfountain's bank accounts so he can tell : "Sorry guys, no dividends, *they stole our money*, we must retain profits of all gen3 to cover our loss, see you next year."  I saw that before in Bitcoinland, after past year nothing is able to surprise me anymore

I doubt it. Friedcat and ASICMINER is legit, business does not go well all the time.

Coming from you that does not mean anything 

The gall of this guy amazes me, that he strolls back in like nothing happened. Incredible.

[Chris_Sabian]

I doubt it. Friedcat and ASICMINER is legit, business does not go well all the time.

Your thoughts and opinions mean exactly 0.  You are in the same group as Ukyo, Danny Brewester, Mark Karpeles.

ASICMINER and Friedcat have been true to their word (within a normal degree of error).

[prancing_around]

Did FC explicitly say there wouldn't be any dividends till the financial report, or is that just speculation?

[hdbuck]

Did FC explicitly say there wouldn't be any dividends till the financial report, or is that just speculation?

no, thats resignation. ^^

[houseofchill]

Thanks for the update Jutarul

[KS]

I never understood the tendency to view mining cost projection in terms of a static equilibrium. It's dynamic and electricity prices are just one factor. Please enlighten me if you think mining doesn't fall into the realm of steady state systems (http://en.wikipedia.org/wiki/Steady_state).

Which "part" of mining do you view as being in "steady state"? Population, revenues (profits), concentration of hashpower/electricity, etc. "all" of it? (what do you consider "all"?)

I think it's really not in steady state, but I'm curious to know why you think so.

[skitchen]

I doubt it. Friedcat and ASICMINER is legit, business does not go well all the time.

LOOOOOOOOOOOOL 

[arousedrhino]

Did FC explicitly say there wouldn't be any dividends till the financial report, or is that just speculation?

I think thats pure speculation. I theorize that there will be no dividends until we ship chips to those who have purchased them since those funds must be held for refunds until we actually ship out the chips in case we don't ship the chips.

[Franktank]

Did FC explicitly say there wouldn't be any dividends till the financial report, or is that just speculation?

The understanding is that dividends would be paid out after the first large batch of chips sold, which may be sooner than the previously mentioned date.

[RoadStress]

Did FC explicitly say there wouldn't be any dividends till the financial report, or is that just speculation?

The understanding is that dividends would be paid out after the first large batch of chips sold, which may be sooner than the previously mentioned date.

How it can be sooner if the chips are delayed by one month?

[Franktank]

The understanding is that dividends would be paid out after the first large batch of chips sold, which may be sooner than the previously mentioned date.

How it can be sooner if the chips are delayed by one month?

Are you assuming again? There has been no information stating that the chips have been delayed.

[necro_nemesis]

Submitted Questions:
1) When can we expect the financial report that's supposed to coincide with the next round of dividends?
re 1) May 27.

I suppose this question could have been phrased differently as it infers divs are coincidental with the financial report but since it was answered in such a matter of fact fashion one could assume the dates to be the same. As to the circumstances leading up to the reasons for reporting on that date I suggest it's a question of interest but doesn't alter what has been already factored in for the selection of the date. I don't recall any reason being stated for the date and the time required IMHO doesn't appear to be unduly delayed given what we know of the stages we are in of the process.

[jimmothy]

Did FC explicitly say there wouldn't be any dividends till the financial report, or is that just speculation?

I think thats pure speculation. I theorize that there will be no dividends until we ship chips to those who have purchased them since those funds must be held for refunds until we actually ship out the chips in case we don't ship the chips.

This. I don't know why some are expecting FC to pay out divs before the chips are even sold/shipped/confirmed functional.

Refunds would be a nightmare if divs were already given out.

1) When can we expect the financial report that's supposed to coincide with the next round of dividends?
re 1) May 27.

This suggests that both financial report and first divs will be payed out on the 27th.

[culexevilman]

Where are money from April 850k batch? Its millions ... Maybe Friedcat is waiting for China banning Bitfountain's bank accounts so he can tell : "Sorry guys, no dividends, *they stole our money*, we must retain profits of all gen3 to cover our loss, see you next year."  I saw that before in Bitcoinland, after past year nothing is able to surprise me anymore

I doubt it. Friedcat and ASICMINER is legit, business does not go well all the time.

hey buddy, still owe me btc...wow...just wow.

[tehelsper]

Where are money from April 850k batch? Its millions ... Maybe Friedcat is waiting for China banning Bitfountain's bank accounts so he can tell : "Sorry guys, no dividends, *they stole our money*, we must retain profits of all gen3 to cover our loss, see you next year."  I saw that before in Bitcoinland, after past year nothing is able to surprise me anymore

I doubt it. Friedcat and ASICMINER is legit, business does not go well all the time.

hey buddy, still owe me btc...wow...just wow.

WTF! Why the hell would he come back?! He still owes me      a ton of BTC from coinlenders. I hope law enforcement is catching up with him.

How about giving me 100 of those ~600 AM shares you own and calling it even, TF?

[aahzmundus]

WTF! Why the hell would he come back?! He still owes me      a ton of BTC from coinlenders. I hope law enforcement is catching up with him.

How about giving me 100 of those ~600 AM shares you own and calling it even, TF?

Coinlenders was just an Asicminer PT if you paid attention enough.  When share prices collapsed, he went insolvent and claimed "Hacks" to try to get away from things.  Now with the potential for share prices to rebound, it kind of makes sense that he would be back.

I have no hard evidence for these claims, but I believe occam is on my side.

[Jutarul]

...
Which "part" of mining do you view as being in "steady state"? ... I think it's really not in steady state, but I'm curious to know why you think so.

It's kind of an off-topic discussion - I recommend to open a dedicated thread if you're interested in debating this.

[KS]

...
Which "part" of mining do you view as being in "steady state"? ... I think it's really not in steady state, but I'm curious to know why you think so.

It's kind of an off-topic discussion - I recommend to open a dedicated thread if you're interested in debating this.

I think it fits nicely with the AM mining operation but we don't have to start a diatribe. Just stating "it's in a steady-state" isn't really satisfying though

[Jutarul]

...
Which "part" of mining do you view as being in "steady state"? ... I think it's really not in steady state, but I'm curious to know why you think so.

It's kind of an off-topic discussion - I recommend to open a dedicated thread if you're interested in debating this.

I think it fits nicely with the AM mining operation but we don't have to start a diatribe. Just stating "it's in a steady-state" isn't really satisfying though

Ok - the original comment was referring to the implied connection between electricity prices and mining feasibility. This is too simplistic. This assumes that there are no infrastructural barriers between the construction site and deployment site for bitcoin hardware. However, I postulate that new hardware "migrates" from easily accessible deployment sites to energy efficient ones. As such, hardware lives along a gradient with a drift towards sites with cheap electricity, where the forces pushing are bitcoin price developments and advances in bitcoin mining IT, to name two. (Thus the analogy to steady state systems). While bitcoin price is a somewhat reversible process, bitcoin mining IT is not.

What this likely means for mining equipment providers is that in the intermediate term the ability to migrate and maintain beats efficiency. That's why developments by Allied Control are so interesting which focus on ease of deployment.

[bkminer]

Thank you Jutarul for the update, it's appreciated!