ASICMINER: Entering the Future of ASIC Mining by Inventing It

[d3adh3ad]

Trolls are coming thick and fast, wheres Gandalf?

Trolls go where the food is and where people are willing to feed them. 

[OvervoltYou]

Well lets just say I lost 32BTC from investing into this. I know its my fault so you guys don't have to blame me for taking this risk. It is a part of investing into things like this. It is just sad that it is becoming very common now in the btc forums.

I myself invested well over 1 Million into multiple bitcoin companies trying to get up an running and majority of them keeps their word. It turns out the ones who have too much to handle just breaks down and decide to make a few sales and run off with it. This is all a risk that you have to take and its our faults for investing into it.

finally, fresh perspective
it looks like scam now

and some of you, circlejerks and bagholders think over it again.

no divs, but sales and mining were done
no posting either

"we are all fucked over again", in bfl style (failed gen2, overpromised gen3, no communication and "subject to change")

sad.

PROVE IT!

If you are going to accuse this of being a scam back it up with proof. FC never stated the May 27th date and that date was always subject to change. He never made that promise, you just trusted a board member and set the date in stone in your head. Thats not how the real world works. Sometimes dates are missed for a myriad or reasons. One could be that he doesn't want to pay divs until all his chip customers have the chips working so right now he is taking up a support roll to get the chips working so that he can with confidence pay out the dividends.

He can't pay out the dividends until the chips have been accepted for delivery and the customer has had the opportunity to test the chip.

I can prove it. Let me just read this forums rules before I post any screenshots. Don't want to be breaking any rules showing private info.

[novusordo]

general trolling

Date registered: today

The sockpuppetry is weak with this one. You'll have to try harder, buddy.

[101111]

general trolling

Date registered: today

The sockpuppetry is weak with this one. You'll have to try harder, buddy.

You're not wrong, to call it (and bbxx) idiotic would be too kind. AM deserves much better trolling than this.

[bitsalame]

On one hand, I am personally a bit frustrated and anxious like everyone else for FC's delays.
On the other hand, I am extremely pissed at all the crybabies out there asking for dividends, and accusing of Friedcat of being a scammer.

Do you know how infrequent it is in the real world to be getting any dividends from growth companies?
Even mature large cap companies decide to give a shit in dividends, even if their profits are monstrous, such as Google who keeps more than 30 billion in cash and doesn't pay a single cent. Apple is another example, ebay, amazon, or Berkshire fucking Hathaway

So why on earth would one buy stocks in such companies?
Because we are betting on their increase in value, the money that is not distributed to us is reinvested in the company to make it grow.
You dimwits. I am fucking tired of coming back to the forum to see a horde of idiots crying for dividends.

Dividends are sweet, but it is not really a must.
I really hope, I just hope Friedcat announces that there will not be dividends anymore because he wants to reinvest it all in the company.
I will gladly pick up all your panicked dumps.

[xhomerx10]

On one hand, I am personally a bit frustrated and anxious like everyone else for FC's delays.
On the other hand, I am extremely pissed at all the crybabies out there asking for dividends, and accusing of Friedcat of being a scammer.

Do you know how infrequent it is in the real world to be getting any dividends from growth companies?
Even mature large cap companies decide to give a shit in dividends, even if their profits are monstrous, such as Google who keeps more than 30 billion in cash and doesn't pay a single cent. Apple is another example, ebay, amazon, or Berkshire fucking Hathaway

So why on earth would one buy stocks in such companies?
Because we are betting on their increase in value, the money that is not distributed to us is reinvested in the company to make it grow.
You dimwits. I am fucking tired of coming back to the forum to see a horde of idiots crying for dividends.

Dividends are sweet, but it is not really a must.
I really hope, I just hope Friedcat announces that there will not be dividends anymore because he wants to reinvest it all in the company.
I will gladly pick up all your panicked dumps.

   It was stated in the original shareholder agreement that an AM share represents 1/400,000 of the company and always will and is entitled to that share of the profits.  Here you can read it:

 

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.

 Since you are comparing other companies to Asicminer, where are the quarterly earnings sheets that the others are required by law to file?  So it's not like those other companies right?  Or is it?  Either way, shareholders deserve more respect that what Friedcat and you would give them.  I'm not trolling here, I'm just sick of the attitudes of so many that shareholders are not deserving of some respect.  This industry has had more than it's fair share of scam artists - and it makes everyone just a tad leery!  So when news and dividends are scarce it is only natural to ask a few pointed questions especially in this largely unregulated space.

[novusordo]

On one hand, I am personally a bit frustrated and anxious like everyone else for FC's delays.
On the other hand, I am extremely pissed at all the crybabies out there asking for dividends, and accusing of Friedcat of being a scammer.

Do you know how infrequent it is in the real world to be getting any dividends from growth companies?
Even mature large cap companies decide to give a shit in dividends, even if their profits are monstrous, such as Google who keeps more than 30 billion in cash and doesn't pay a single cent. Apple is another example, ebay, amazon, or Berkshire fucking Hathaway

So why on earth would one buy stocks in such companies?
Because we are betting on their increase in value, the money that is not distributed to us is reinvested in the company to make it grow.
You dimwits. I am fucking tired of coming back to the forum to see a horde of idiots crying for dividends.

Dividends are sweet, but it is not really a must.
I really hope, I just hope Friedcat announces that there will not be dividends anymore because he wants to reinvest it all in the company.
I will gladly pick up all your panicked dumps.

Agreed.

---

This isn't aimed at those with valid criticism, of course:

By all means, if you're going to whine and bitch like spoiled little divas, sell your fucking shares. All of them. As soon as possible.

Afterward, never come back to this thread again. Make an appointment with your local doctor and get sterilized. You'll be doing the world a huge favor.

[_mr_e]

On one hand, I am personally a bit frustrated and anxious like everyone else for FC's delays.
On the other hand, I am extremely pissed at all the crybabies out there asking for dividends, and accusing of Friedcat of being a scammer.

Do you know how infrequent it is in the real world to be getting any dividends from growth companies?
Even mature large cap companies decide to give a shit in dividends, even if their profits are monstrous, such as Google who keeps more than 30 billion in cash and doesn't pay a single cent. Apple is another example, ebay, amazon, or Berkshire fucking Hathaway

So why on earth would one buy stocks in such companies?
Because we are betting on their increase in value, the money that is not distributed to us is reinvested in the company to make it grow.
You dimwits. I am fucking tired of coming back to the forum to see a horde of idiots crying for dividends.

Dividends are sweet, but it is not really a must.
I really hope, I just hope Friedcat announces that there will not be dividends anymore because he wants to reinvest it all in the company.
I will gladly pick up all your panicked dumps.

   It was stated in the original shareholder agreement that an AM share represents 1/400,000 of the company and always will and is entitled to that share of the profits.  Here you can read it:

 

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.

 Since you are comparing other companies to Asicminer, where are the quarterly earnings sheets that the others are required by law to file?  So it's not like those other companies right?  Or is it?  Either way, shareholders deserve more respect that what Friedcat and you would give them.  I'm not trolling here, I'm just sick of the attitudes of so many that shareholders are not deserving of some respect.  This industry has had more than it's fair share of scam artists - and it makes everyone just a tad leery!  So when news and dividends are scarce it is only natural to ask a few pointed questions especially in this largely unregulated space.

Agreed. This is now the 8th straight week there has not been a single dividend paid, without the slightest update from our leader as to why? Have we really not mined a single block all the time? Then to top it off he sets a very specific and public date, one that he was well aware were going out to his shareholders, which he then fails to utter a tiny peep, all while allowing the 8th Wednesday to come and go without an update either! But he has time to come on and comment on other forum posts and completely disregard this one. Any way you slice it this is simply not respectful or fair behavior.

[cs54]

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.

The issue for me is more about the financial reports -- I would be fine with no dividends if the reports were delivered. The lack of both, despite expectations to the contrary, is unsettling.

I can appreciate the need for secrecy surrounding strategy, trade secrets and performance but not when it's done inconsistently and without notice. Predictability is so important in such a crazy growth industry and distrust is contagious; we are rightfully last in line when it comes to operating considerations but at some point the bad ju ju and loss of confidence will spill to the customer and supplier level.

EDIT: I'm loving the BRK comparison and think that would be a perfect model for FC and AM. Just give us a no-frills website, an annual letter to shareholders, and quarterly reports, and watch as the goodwill and power come rolling in.

http://www.berkshirehathaway.com/
http://www.berkshirehathaway.com/letters/letters.html
http://www.berkshirehathaway.com/reports.html

[KarmaShark]

My guess is that with the May 27th date more than a full day in the rear-view mirror with nothing in sight, the start of June will be when dividends and the financial reports are announced. I believe there was talk that we may be moving to a more traditional monthly dividend schedule. If FriedCat implements this new system then it would make good sense to start everything off on the right foot at the onset of the new month. Given that this would be Sunday, we aren't too far off.

Now, if June 1st passes with nothing then my only other guess is he is waiting until the end of Q2 which would make it July 1st. At some point FriedCat is going to post in the thread, so everyone relax. He logs in daily and is commenting in other Gen3 hardware threads so there is little concern of a scam being pulled. Someone with his intelligence understands that to go back on your word to your investors shows the character of someone who you would not want to be in business with going forward. This extends down to the company's loyal customer base and suppliers. This company is the one shining beacon of light in an otherwise scummy environment of unregulated Bitcoin securities. Should FC fail us, I see little reason for the entire market to keep going. Who would invest when holding BTC is already proven to be successful more often than not?

Take a deep breath, head outside and get some sunlight. We will have answers soon.

[michaelGedi]

I'm going double or nothing, keep the fud coming in pls

[bbxx]

On one hand, I am personally a bit frustrated and anxious like everyone else for FC's delays.
On the other hand, I am extremely pissed at all the crybabies out there asking for dividends, and accusing of Friedcat of being a scammer.

Do you know how infrequent it is in the real world to be getting any dividends from growth companies?
Even mature large cap companies decide to give a shit in dividends, even if their profits are monstrous, such as Google who keeps more than 30 billion in cash and doesn't pay a single cent. Apple is another example, ebay, amazon, or Berkshire fucking Hathaway

So why on earth would one buy stocks in such companies?
Because we are betting on their increase in value, the money that is not distributed to us is reinvested in the company to make it grow.
You dimwits. I am fucking tired of coming back to the forum to see a horde of idiots crying for dividends.

Dividends are sweet, but it is not really a must.
I really hope, I just hope Friedcat announces that there will not be dividends anymore because he wants to reinvest it all in the company.
I will gladly pick up all your panicked dumps.

Agreed.

---

This isn't aimed at those with valid criticism, of course:

By all means, if you're going to whine and bitch like spoiled little divas, sell your fucking shares. All of them. As soon as possible.

Afterward, never come back to this thread again. Make an appointment with your local doctor and get sterilized. You'll be doing the world a huge favor.

the problem is it is difficult to sell direct shares.
i am not going to wait weeks for share transfer to havelock and missing dividends if any will be
juratul succesfully has unloaded/blocked market on forum becouse 400 is very large number...

i can sell some direct shares (13) but i am sure that noone will pay good price for them

i was hoping for one damn post by friedcat here but he dont bother.
he is just ignoring this topic and juratul answers are worthless

like few recent question rounds, only bullshit and fairy tales

this case is worse than labcoin, kenS and others, they were posting their tales, friedcat is not,
 board members are posting about unicorns to make their unloads easier...

[eastpk]

On one hand, I am personally a bit frustrated and anxious like everyone else for FC's delays.
On the other hand, I am extremely pissed at all the crybabies out there asking for dividends, and accusing of Friedcat of being a scammer.

Do you know how infrequent it is in the real world to be getting any dividends from growth companies?
Even mature large cap companies decide to give a shit in dividends, even if their profits are monstrous, such as Google who keeps more than 30 billion in cash and doesn't pay a single cent. Apple is another example, ebay, amazon, or Berkshire fucking Hathaway

So why on earth would one buy stocks in such companies?
Because we are betting on their increase in value, the money that is not distributed to us is reinvested in the company to make it grow.
You dimwits. I am fucking tired of coming back to the forum to see a horde of idiots crying for dividends.

Dividends are sweet, but it is not really a must.
I really hope, I just hope Friedcat announces that there will not be dividends anymore because he wants to reinvest it all in the company.
I will gladly pick up all your panicked dumps.

Agreed.

---

This isn't aimed at those with valid criticism, of course:

By all means, if you're going to whine and bitch like spoiled little divas, sell your fucking shares. All of them. As soon as possible.

Afterward, never come back to this thread again. Make an appointment with your local doctor and get sterilized. You'll be doing the world a huge favor.

the problem is it is difficult to sell direct shares.
i am not going to wait weeks for share transfer to havelock and missing dividends if any will be
juratul succesfully has unloaded/blocked market on forum becouse 400 is very large number...

i can sell some direct shares (13) but i am sure that noone will pay good price for them

i was hoping for one damn post by friedcat here but he dont bother.
he is just ignoring this topic and juratul answers are worthless

like few recent question rounds, only bullshit and fairy tales

this case is worse than labcoin, kenS and others, they were posting their tales, friedcat is not,
 board members are posting about unicorns to make their unloads easier...

I'll buy your shares - PM me a price.

Current bid price of havelock - with signature of addy.

[bbxx]

pmed

[aahzmundus]

Just to give some perspective to people who are saying FC used to post all the time, and not he does not post much at all... several things have changed.

In the beginning, there were no customers to support, only investors... and some were skeptical.  After friedcat paid back the IPO money and then some, the need to calm nerves lessened greatly and the need to post here as often lessened up... but he did not loosen up on posting.  What then followed was a huge bull run of the price north of 5BTC a share, Jutarul even threw up huge walls to try and calm the storm, but they were eaten through like candy.  I think possibly friedcat may be worried about the fact that any time he does post news, the price usually gets a bump,  If he posts too much... the price gets inflated.

Also he now has many many customers, franchisers, partners and investors all needing things from him.  Some people may be having technical issues with the chip, others may be working out payments... AM is a young company, and the growing pains on support staff must be immense.

That being said, yes... I do think SOME update is warranted by now, but if you notice something... none of the board members are posting here with any concerns and or updates of information.  I imagine there is some reason that Jutarul has yet to speak up, possibly just because he does not want to be berated... but I think it is a possibility that there is some good reason they cant post information.  They are in China remember...

[stompysteve]

I wish I woulda waited till now to buy some cheap shares i got no btc left

[bitcoiner49er]

Maybe FC was here?
http://www.coindesk.com/private-china-meeting-bitcoin-mining-industry-leaders/

[rudi]

Maybe FC was here?
http://www.coindesk.com/private-china-meeting-bitcoin-mining-industry-leaders/

It seems not:

Miners: The Gathering. http://www.bitell.com/t/2157

I was wondering when that was going to happen. Miner OEMs colluding to fix prices and slow the price erosion.
Since mining is a zero sum game, it pays off for them to work together to limit overall supply. Like OPEC for the bicoin mining industry .

All it takes is one to break from the group...

As I know, Friedcat didn't attend the gathering.

Dude, sorry, who are you and where are you getting your information from? I just don't know whether to take you seriously or not. It's nothing personal.

Thanks.

I am from China, and I got the information by chatting with guys who is famous in "Bitcoin world" in China.

[Jutarul]

My apologies for not being able to catch up with the current debate. The current status is that friedcat committed to the 27-MAY as the date to release the financial reports and he communicated his intent to wait for the first round of payments and the financials to release dividends (thus bringing stuff into alignment). That day has now passed without prior announcement of any potential delay. There is no technical reason why dividend payments couldn't be made independently from any financial report release date - it's just a matter of preference. I am currently expecting to hear back on that matter, I have no further information available.

I'd like to reassure shareholders that there is a shared interest in getting this resolved soon. As such I see the responsibility with the board to follow up on this.

[hdbuck]

hip hip hurayyy
thx man