ASICMINER: Entering the Future of ASIC Mining by Inventing It

[bitmoon]

add this question

are we going to mine? be it gen3,gen4, etc

whats the purpose of immersion cooling now, if not mining?

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[CanaryInTheMine]

I think the best course of action is to continue to ask Jutarul to submit questions to friedcat, and make sure there is some time put into the questions, right now the way some of the questions are phrased, they are repetitive and just worded in bad ways.  We should also keep them simple.  If we just submit a few questions, but ask them more frequently, I feel we all will be better for it.

I also feel we should try and target other people who have information, CanaryInTheMine, how are the sales going?  How do you feel about the units?  Roxxie, how is your project going, how is working with AM chips?

Here would be my list for FC, taking the other one and cleaning it up, putting questions in a logical order of sorts.

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

2) 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.)?

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

4) What is the status of gen 3.1, do we have final chip performance numbers yet?

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

6) What is the progress on gen4?

7) What is the status of Asicminer mining profits, including our franchising partners?

8 ) When can shareholders expect the next dividend?  What happened to the 27th projection?

9) Can we please get bi-weekly updates to stop rampant speculation?

10) What are the future plans for Asicminer.

Most of these questions have already been answered... It may be hard to dig through all the pages, but the answers are here.

[aahzmundus]

add this question

are we going to mine? be it gen3,gen4, etc

whats the purpose of immersion cooling now, if not mining?

I believe your first question is contained in number 7, and your second question was answered on a previous question to friedcat.

Most of these questions have already been answered... It may be hard to dig through all the pages, but the answers are here.

I don't think so, I have read every page of this thread no less then 3 times, but even then you are right I could have missed something.  Some questions have been answered before, but the answers are now no longer valid as time has passed.  For example, FC answered the dividends question, he said the 27th would be dividends, now that the date has passed the question is valid again.  We know the price range for chip sales, FC said what they would be priced at, but now that they are being sold, we do not know what they actually are selling at.  We got initial specs for the chips, but were told there may be further changes and updates, so the question on specs is valid.  I think this is the case for all the questions on my list, but I would happily be proven wrong.

[bitcoin.newsfeed]

Next round of shareholders questions - gathering

Dear shareholders,

we've gathered 20 questions so far, still 16hours until forwarding them to Friedcat. If you want to add something, dont hesitate to write it here, or in PM. Closing time for this round of questions is 1st of June 2014 12:00 UTC +01:00

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

20) What are the future plans and visions of Asicminer?

[necro_nemesis]

I trust friedcat. I think he is an honest person. I hope this will work out in the end.

+1
Omg goat!!! I do agree with you on this one thing!!

Edit: so let's say friedcat goes out and raises 20 or even $40 mil tomorrow (several of us here can make that happen via our connections to VCs without trying hard), then what?

Most of you will still bitch and moan as before.

Your problem is that you see AM shares as a cashcow for fat dividends...
Have you no sense/idea of when in a companie's life cycle dividends are fat?? (Hint: at EOL)
I can tell you when, when the company has no more growth and the only thing left to do is pay out divs to shareholders.

This isn't the case here.  So all you bitching about no divs: educate yourself.  Don't be fools.  And I'm putting this mildly not to offend anyone.
Cheers!

The the problem with having an appreciation for growth comes down to a sense of ownership of the asset. No one wants to own rabid dog that acts unpredictably. The prevailing attitude is this is "Bitcoin land"; take what you can get while you can because tomorrow someone will take it from you. I as a few others in spite of the situation do not share that sentiment but until AM starts to behave like they are a legitimate publicly traded company and be responsive to long term investors this is the only reasonable expectation of what they are able to offer.

[hdbuck]

man im so pissed i could easily have doubled my shareholdings. instead my investment has been divided by two.   F    U    C    K
still some faith in FC but, well, i guess all i have to do now is wait. sinking with the ship or landing on the moon. *coinflip

[ZephramC]

I was offline for few days. (Hoping for dividends when I come back.) Can someone point me to the reply or event explaining such drop in price? (I know it is somewhere in this thread, but there are too many contribs.) Is this because some Bitfurry investment?? Did Friedcat postopone dividends again?

[necro_nemesis]

I was offline for few days. (Hoping for dividends when I come back.) Can someone point me to the reply or event explaining such drop in price? (I know it is somewhere in this thread, but there are too many contribs.) Is this because some Bitfurry investment?? Did Friedcat postopone dividends again?

https://bitcointalk.org/index.php?topic=99497.msg7038745#msg7038745

[ZephramC]

I was offline for few days. (Hoping for dividends when I come back.) Can someone point me to the reply or event explaining such drop in price? (I know it is somewhere in this thread, but there are too many contribs.) Is this because some Bitfurry investment?? Did Friedcat postopone dividends again?

https://bitcointalk.org/index.php?topic=99497.msg7038745#msg7038745

Thank you. :-/
Tenfold loss. I should sell earlier.

[kingcrimson]

This is terrible, the only reason I invested is because he said there would be aggressive dividends. How does anybody have a chance in this business if they are being flat out lied to?

[ZephramC]

This is terrible, the only reason I invested is because he said there would be aggressive dividends. How does anybody have a chance in this business if they are being flat out lied to?

I invested because I trusted the project and saw potential for appreciation. 1 Share was about 2.5 BTC at that time (this was after 4 BTC peak), august 2013 - btct.co times. When the price fell, I stayed because of dividends... Well. I sold my shares today.
I know it is my mistake, I will try to learn from it.

[Satan666]

Keep in mind #bitcoin-assets predicted last day's price halving, at least 20 days before.

Well, that little chat between ThickasThieves and skinnkavaj should help bring the price down some more for those that were looking to buy up some cheap shares.

Here's an edited version of it:

12:22:47 skinnkavaj:ThickAsThieves: Why did you leave ASICMINER?
12:23:53 ThickAsThieves:technically ditching the AM-PTs is what i did
12:24:10 ThickAsThieves:leaving the board was automatic once i no longer represented 5000 shares
12:24:20 skinnkavaj:But why? Didn't they make a you some money with 5% management fee?
12:24:26 ThickAsThieves:lol
12:24:36 ThickAsThieves:go add up those fees over the lifetime
12:25:06 skinnkavaj:ThickAsThieves: Do you no longer believe in a great future for Asicminer?
12:25:23 skinnkavaj:I love to buy stocks when everyone is selling them
12:25:30 ThickAsThieves:i do not believe in AM
12:25:36 ThickAsThieves:and consider it vastly overvalued
12:26:48 ThickAsThieves:blood in the steets is blood on your hands
12:26:53 ThickAsThieves:streets*
12:28:29 ThickAsThieves:here's how i see it
12:28:38 ThickAsThieves:(this is no investment advice)
12:28:48 ThickAsThieves:FC and the crew made millions on millions last year
12:29:02 mircea_popescu:notwithstanding that afaik friedcat was in no sense an engineer, just a pr for a team, and also afaik she said so mul;tiple times.
12:29:04 ThickAsThieves:then had to deal with pissant forum investors
12:29:07 ThickAsThieves:which got old
12:29:24 ThickAsThieves:so they probably began segmenting their business out of that situation
12:29:30 ThickAsThieves:which menifested in things like
12:29:33 ThickAsThieves:no Gen2
12:29:34 ThickAsThieves:Rockminer
12:29:40 ThickAsThieves:no communciation
12:29:42 ThickAsThieves:etc
12:30:31 skinnkavaj:ThickAsThieves: According to latest questions it seems that they are on track on delivering 102 petahash to the network in 3 months
12:30:47 ThickAsThieves:on track by what measure?
12:30:50 ThickAsThieves:words and dreams?
12:31:00 skinnkavaj:I don't see why they couldn't make better chips than before
12:31:18 mircea_popescu:ahgahaha. o you don't see do you ?
12:31:24 ThickAsThieves:ho can you not learn by now
12:31:30 ThickAsThieves:;;bcstats
12:31:32 gribble:Current Blocks: 300047 | Current Difficulty: 8.0008721359681635E9 | Next Difficulty At Block: 300383 | Next Difficulty In: 336 blocks | Next Difficulty In About: 1 day, 22 hours, 20 minutes, and 41 seconds | Next Difficulty Estimate: 8840307102.91 | Estimated Percent Change: 10.49179
12:33:31 skinnkavaj:I want to hear what ThickAsThieves has to say
12:33:45 skinnkavaj:Why do you not think the could manage to produce a 3gen chip
12:33:52 skinnkavaj:They clearly have the competence
12:34:08 skinnkavaj:Its just a matter of time
12:34:11 ThickAsThieves:it's not that i dont think they "might" make gen3 or whatever
12:34:24 ThickAsThieves:it's that i dont see how owning stock would be worth it even if they did
12:34:51 skinnkavaj:ThickAsThieves: Why couldn't it be successfull?
12:35:05 ThickAsThieves:math
12:35:11 skinnkavaj:ThickAsThieves: Why couldn't it be worth it?
12:35:17 ThickAsThieves:economy
12:35:21 skinnkavaj:If they once again produce the best chips on the market
12:35:37 skinnkavaj:It will be worth it
12:35:49 ThickAsThieves:isnt this batch already barely on par with the market?
12:36:06 skinnkavaj:If they successfully manage to keep their promises now
12:36:17 ThickAsThieves:do you realize how long it's been since AM actually released something new?
12:36:17 skinnkavaj:Delivering 102 petahash over the next 3 months
12:36:19 mircea_popescu:more's the point, if they doi produce the best batch on the market again, why would they want to split the proceeds with you ?
12:36:24 skinnkavaj:I think they have a good chance of 20% of the network
12:36:25 mircea_popescu:what could you possibly offer them that'd make them care.
12:36:34 ThickAsThieves:they wont split proceeds
12:36:38 ThickAsThieves:thats why Rockminer exists
12:36:46 ThickAsThieves:and why Gen2 probly existed
12:37:42 ThickAsThieves:all the board cares about is their own franchises, which are all going into the red right about now
12:38:03 skinnkavaj:ThickAsThieves: "all the board cares about is their own franchises" Like what franchises?
12:38:04 ThickAsThieves:so you are crossing your fingers that some mystery men in china give a fuck about shareholders
12:38:13 skinnkavaj:ThickAsThieves: They did before?
12:38:18 ThickAsThieves:they measured how much fuck they should give with the Rockminer IPO
12:38:26 skinnkavaj:Why would you assume friedcat is dishonest now?
12:38:27 skinnkavaj:Suddenly
12:38:50 skinnkavaj:ThickAsThieves: Do you think Rockminer is a better investment if so?
12:38:55 ThickAsThieves:well dishonesty is a different demon in china
12:39:03 ThickAsThieves:you measure it differently
12:39:15 ThickAsThieves:and whats so sudden
12:39:32 ThickAsThieves:AM hasnt made new shit for like a year
12:39:45 ThickAsThieves:their farm maxed at like 25TH or some shit
12:40:06 skinnkavaj:They told that Rockminer would have to buy chips from Asicminer at the same price as everyone else
12:40:27 ThickAsThieves:...
12:40:44 skinnkavaj:So far I fail to see why Asicminer suddenly has become corrupt/dishonest
12:41:13 ThickAsThieves:skinnkavaj
12:41:21 ThickAsThieves:pretend Rockminer IS Asicminer
12:41:29 ThickAsThieves:and ask how Asicminer might profit
12:41:53 ThickAsThieves:then
12:41:57 skinnkavaj:They sell chips?
12:41:58 ThickAsThieves:pretend you arent pretending
12:42:01 skinnkavaj:They could have split up
12:42:07 skinnkavaj:Asicminer produces only chips
12:42:14 skinnkavaj:Rockminer produces something else
12:42:17 skinnkavaj:Is my understanding
12:42:19 skinnkavaj:I may be wrong
12:42:23 ThickAsThieves:you may
12:43:08 skinnkavaj:ThickAsThieves: So in that case, do you think Rockminer is a better investment than Asicminer? yes/no?
12:43:18 ThickAsThieves:fucking hell man
12:43:23 gribble:The answer is a resounding no.
12:43:27 ThickAsThieves:there.
12:43:41 skinnkavaj:Yes/no?
12:43:45 skinnkavaj:I dont follow you..
12:43:58 fluffypony:skinnkavaj: read what gribble said
12:43:59 fluffypony:"[14:43:24] +gribble:    The answer is a resounding no."
12:44:17 assbot:Last 12 lines bashed and pending review. (http://dpaste.com/3D6JHN5.txt)
12:44:17 ThickAsThieves:!b 12
12:44:17 mircea_popescu:fluffypony he doesn't see why gribble should have said that.
12:44:27 mircea_popescu:he further does not see why what gribble says should be controlling.
12:44:38 skinnkavaj:I have ignored Gribble
12:44:41 ThickAsThieves:[08:21] <skinnkavaj> I hate to use Gribble
12:44:41 skinnkavaj:But ok
12:44:43 skinnkavaj:So both are shit
12:44:47 skinnkavaj:ASicminer and rockminer
12:44:50 skinnkavaj:In your opinion
12:45:06 fluffypony:skinnkavaj: gribble's magic 8ball says both are shit
12:45:32 fluffypony:skinnkavaj: you can also use this for investment advice: http://www.ask8ball.net
12:46:42 ThickAsThieves:https://i.imgur.com/7HVDhQk.jpg
12:48:22 fluffypony:lol ThickAsThieves
12:48:26 skinnkavaj:Would really like to have more dicussions
12:48:32 skinnkavaj:About the companies
12:48:36 skinnkavaj:Thats why I am in this channel
12:48:39 fluffypony:skinnkavaj: discussion is fine
12:48:51 fluffypony:asking someone for their opinion on a specific issue is fine
12:48:58 fluffypony:but yes/no investment advice is nonsensical
12:50:11 skinnkavaj:ThickAsThieves: Do you have more information from ASicminer board meetings or are you not allowed of copy pasting that?
12:50:28 ThickAsThieves:skinnkavaj, if you just lurk here for a few mos, you'll be miles ahead of the forum
12:50:36 ThickAsThieves:you dont even need to talk
12:51:11 ThickAsThieves:there's nothing much worth sharing from the board meetings

[aahzmundus]

Never did like TAT, wish Burnside was still in the game, alas.

[jimmothy]

ASIC Miner below IPO before July



Keep in mind #bitcoin-assets predicted last day's price halving, at least 20 days before.




u MAD?

Bitcoin-assetts predicts every bitcoin stock is overvalued. Even a broken clock is right twice a day.

12:30:31 skinnkavaj:ThickAsThieves: According to latest questions it seems that they are on track on delivering 102 petahash to the network in 3 months
12:30:47 ThickAsThieves:on track by what measure?
12:30:50 ThickAsThieves:words and dreams?

Here's proof TAT is just talking shit as usual. Having just sold ~8PH I would say AM is quite on track.

It's too bad TAT had to become an egotistical douchebag and join the cult of bitcoin-assetts.

Funny how none of the cultists from bitcoin assets will ever admit that every single stock on mpex is overvalued. Overvalued is the wrong word since market manipulation determines the price, not the free market.

[elasticband]

that conversation reeks of a bitter man who lost some money or regrets not selling at the top.

[Ozziecoin]

Can't see anything substantive in what TAT said. Doesn't mean he is wrong. Just nothing substantive.

[Satan666]

Can't see anything substantive in what TAT said. Doesn't mean he is wrong. Just nothing substantive.

Nothing concrete, but he was on the board for a few months and may have gotten the sense something underhanded was going on with board members' "own franchises" before deciding to leave.  Makes me wonder who operates these other businesses that AM is selling their Gen3 chips to.

That, plus the fact that friedcat has been awfully quiet for the last several months.  People have speculated that he's been extremely busy and/or doesn't want to reveal his business strategy, but these well-meaning individuals could just be unknowingly providing him cover.  He talked about designating someone for investor relations, but only came up with excuses.  Scammers have a tendency to come up with excuses, instead of solutions, to explain away the red flags.

[Another User]

Can't see anything substantive in what TAT said. Doesn't mean he is wrong. Just nothing substantive.

Nothing concrete, but he was on the board for a few months and may have gotten the sense something underhanded was going on with board members' "own franchises" before deciding to leave.  Makes me wonder who operates these other businesses that AM is selling their Gen3 chips to.

That, plus the fact that friedcat has been awfully quiet for the last several months.  People have speculated that he's been extremely busy and/or doesn't want to reveal his business strategy, but these well-meaning individuals could just be unknowingly providing him cover.  He talked about designating someone for investor relations, but only came up with excuses.  Scammers have a tendency to come up with excuses, instead of solutions, to explain away the red flags.

Always appreciate "info" from another sock puppet that's been here for less than 10 days 

[Another User]

Your comments remind me of those on http://trilema.com/2013/the-analysis-of-a-failure-asicminer/


moar RAGE!!!!!!!???

You know what they say: Those who can, do, and those who can't, teach.

MP is sure teaching lot 

Do you plan to teach too?

[Satan666]

Nothing concrete, but he was on the board for a few months and may have gotten the sense something underhanded was going on with board members' "own franchises" before deciding to leave.  Makes me wonder who operates these other businesses that AM is selling their Gen3 chips to.

That, plus the fact that friedcat has been awfully quiet for the last several months.  People have speculated that he's been extremely busy and/or doesn't want to reveal his business strategy, but these well-meaning individuals could just be unknowingly providing him cover.  He talked about designating someone for investor relations, but only came up with excuses.  Scammers have a tendency to come up with excuses, instead of solutions, to explain away the red flags.

Always appreciate "info" from another sock puppet that's been here for less than 10 days 

Your welcome.