ASICMINER: Entering the Future of ASIC Mining by Inventing It

[server]

Chips will be sold with a loss and profit will be made in other companies ?

ELI5 current situation :

FC purchased materials for 5$ , made 10chips, sell them for 20$, then he purchased materials for 20$ and made 40chips, sell them for 80$, then he purchase material for 80$ and sell it for 320$, but again, he'll purchase material for 320$ ... and cycle continues. He's providing R&D of mining chips for whole Chinese market from own resources and then hes unloading tons of underpriced chips to his friends, or his other umbrella companies. Sadly for us is that real profit is creating elsewhere, not in AM anymore, AM is tunneled. AM is just used donkey.

It seems like this until we get answers to new round of shareholders questions. And we need answers asap. So if someone wants to add questions to the list provided before, please do. Friendlypumpkin will forward them in 1-2days.

Yuk, well played by the cat.

[xhomerx10]

Chips will be sold with a loss and profit will be made in other companies ?

ELI5 current situation :

FC purchased materials for 5$ , made 10chips, sell them for 20$, then he purchased materials for 20$ and made 40chips, sell them for 80$, then he purchase material for 80$ and sell it for 320$, but again, he'll purchase material for 320$ ... and cycle continues. He's providing R&D of mining chips for whole Chinese market from own resources and then hes unloading tons of underpriced chips to his friends, or his other umbrella companies. Sadly for us is that real profit is creating elsewhere, not in AM anymore, AM is tunneled. AM is just used donkey.

It seems like this until we get answers to new round of shareholders questions. And we need answers asap. So if someone wants to add questions to the list provided before, please do. Friendlypumpkin will forward them in 1-2days.

Yuk, well played by the cat.

 Friedcat for President! (of Somalia)

[VolanicEruptor]

We need to start re-photoshopping our FC pictures.  Wheres that one with the old lady holding up blades as she stands amongst the crowd of fans?  She should be holding up a rifle to her head now.  

[bitcoin.newsfeed]

... the lady in gold dress and around her lying homeless shareholders pointing middle finger on her and throwing rocks...

anyway if FC tunneled company, and fucked us, the AM will be have worse reputation than BFL in community. There will be an army of angry people bashing all AM products and future products all over the place. Nobody wants do do business with scammer.

jokes aside, we need answers for next round of questions ... then we'll know

[Ozziecoin]

Stay classy people. I don't see anyone commenting above refund a $200,000 fee that someone accidentally included in their transaction. FC did that because it was the right thing to do.

[Kosmatos]

Friedcat is cool, and if he starts something new someday, I'd consider investing in it, but I think AM's potential for divs at current share prices isn't exactly rosy. I'm a lousy day trader. TTFN

[jimmothy]

but I think AM's potential for divs at current share prices isn't exactly rosy.

I see huge potential especially at current share prices.

If AM can sell 70PH (as forecasted) in batch 3 that would earn about 60,000 btc or 0.15btc/share.

[gaba]

but I think AM's potential for divs at current share prices isn't exactly rosy.

I see huge potential especially at current share prices.

If AM can sell 70PH (as forecasted) in batch 3 that would earn about 60,000 btc or 0.15btc/share.

Imagine potential when share prices drop to 0.1BTC. Don't trust the (Fried)cat.

[Ozziecoin]

but I think AM's potential for divs at current share prices isn't exactly rosy.

I see huge potential especially at current share prices.

If AM can sell 70PH (as forecasted) in batch 3 that would earn about 60,000 btc or 0.15btc/share.

They will sell it easy as it is the most efficient or second most efficient chip on the market.

[necro_nemesis]

I guess being on the board entitles you to first class front row seating to the train wreck.

[michaelGedi]

comments from Jutarul and pumpkin would be appreciated,

doubled up shares at 0.42, after a previous average buy back in of 0.6... not a good day for me 


next round of questions has a whole lot more weight to it now

[stompysteve]

comments from Jutarul and pumpkin would be appreciated,

doubled up shares at 0.42, after a previous average buy back in of 0.6... not a good day for me 


next round of questions has a whole lot more weight to it now

Seems like everything changed from previous round of questions

[michaelGedi]

comments from Jutarul and pumpkin would be appreciated,

doubled up shares at 0.42, after a previous average buy back in of 0.6... not a good day for me 


next round of questions has a whole lot more weight to it now

Seems like everything changed from previous round of questions

yes, have yet to look at the information in depth but the price movement on havelock and the tantrums by the likes of bitcoin.newsfeed aren't pleasant...

that said after waiting for around 9 months for developments to take a more mid/long term positive swing, I don't think more waiting can hurt if the end result proves successful. Emotional reactions to no divs with report are a bit much, to me it just seems we need to take more initiative with gathering information from AM to prevent this kind of scenario... friedcat is not going to hold our hand through this. There was no mention of it being problematic to ask questions, just everyone clung on to their projecations and the quoted text from the (now old) last round of them

[User705]

Hard to trust financials that manage to get the date wrong.  Anyone know if the inventory is valued at cost or market price?

[stompysteve]

Hard to trust financials that manage to get the date wrong.  Anyone know if the inventory is valued at cost or market price?

guys guys its all a misunderstanding....the financials are from may 2013 not 2014   ....

[VolanicEruptor]

Fuzzy financials.. hmm sounds like a Ken Slaughter move. 

[jimmothy]

Fuzzy financials.. hmm sounds like a Ken Slaughter move. 

Selling almost $4,000,000 worth of hardware is definitely not a Ken Slaughter move.

[VolanicEruptor]

Fuzzy financials.. hmm sounds like a Ken Slaughter move.  

Selling almost $4,000,000 worth of hardware is definitely not a Ken Slaughter move.

Keeping profit away from shareholders is.  That is the only reason why financials would be fuzzy in the first place.

[jimmothy]

Fuzzy financials.. hmm sounds like a Ken Slaughter move.  

Selling almost $4,000,000 worth of hardware is definitely not a Ken Slaughter move.

Keeping profit away from shareholders is.  

But that has never happened. They spent $6,000,000 and earned $4,000,000.

The same people complaining about not receiving divs from selling 700k chips, are the same people who would complain if he had given out divs now(reducing reinvestment) and not been able to sell 3m chips next month. You can have one or the other, not both.

That is the only reason why financials would be fuzzy in the first place.

It's only fuzzy if you can't read them. What part confuses you?

[bitcoin.newsfeed]

Next round of shareholders questions - gathering


Just got message from our friendlypumpkin :

Please collect those questions if you like and forward them, I'm currently out of town and on mobile only. (Plus I'm pretty disappointed and lost money due to all of this).

SO, if anyone wants to add any more questions for the next round of shareholders questions, just PM me or write it here, questions will be forwarded to competent people 1st of June 2014 12:00 UTC +01:00

Current state of list :

1) On the Balance Sheet, approximately how many chips does the current Inventory (Products + Materials) represent?

2) How many months of inventory do you estimate that represents?

3) On the Cash Flow there was significant expenses for gen3 production (~6mil USD). Does that represent the bulk of gen3 expenses, or are the expenses for gen3 going to continue (additional wafer batches ordered, etc.)?

4) When will dividends start, and how frequently will they occur?

5) What is the status of gen 3.1 (shipping to customers, I think?)? How much does it help with energy usage -- do we have final chip performance numbers yet?

6) What is the progress on gen4?

7) What is the status of self mining? What is the rollout schedule for the data centers?

8 ) What is the status of franchising partners? When can we expect to see income from them?

9) Can you please clarify this sentence from 21st April : "The dividend schedule will be aggressive, as AM will not require large sums of retained capital." < is this still actual, or meanwhile something changed?

10) What is the average selling price of AM gen3 chips (price per Gh/s)?

11) What is that ~4M CNY in financial report/expenses at exchange?

12) What is the cash flow ratio between the amount of Chips Fabricated and the percentage of the batch that is dedicated to cost.

13)  What is the Break Even Point of this batch of Chips?

14) What is the estimated conversion time from chip sales to dividends?

15) Will the funds from future Gen 3 chips be used to fund Gen 4 chips or distributed as a dividend, and what relative percentage of income will be used for Gen 4?

16) Previously our Asicminer farm was mining bitcoins and distributing a weekly dividend, will Asicminer update its present hash rate in the mining farm to account for current difficulty changes and to procure a secondary supply of Bitcoins to adapt for rapid changes in Bitcoin prices?

17) What ever happened to the dedicated PR person and should AM make a website for distributors and for Chip inquiries?

18) Can we please get weekly, bi-weekly or monthly updates about progress, plans, sales etc. for preventing FUD in this thread?

19) Can you please communicate more clearly/frequently with shareholders?