ASICMINER: Entering the Future of ASIC Mining by Inventing It

[kibblesnbits]

I am committed to provide further information as it becomes available. However, some of the information which is important for company valuation is actually also crucial to pricing sales and thus falls within the realm of confidential information. Thus you cannot expect that this kind of information be released to the public. Anything else would be a level of transparency which is rather uncommon in these industries.

From someone who's willing to ride out the storm, I thank you.

[IPO Magic]

I am shocked by the amount of outrage caused by what could be considered an uneducated interpretation of some raw data. The resemblance of this being a deliberate attempt to pray on the lack of insight and patience of new investors is strong.

That's some classy talkin'!  You must live in one of them fancy double-wides!

[Franktank]

Gentlemen,

don't get carried away by speculating on the quality of communication by friedcat. As pointed out multiple times, due to the nature of the operation there is little incentive to do extensive IR, other than the necessary accounting and communication through shareholder representatives (board). Instead the focus is on the core business. Friedcat decided to not pass the statements by the board first, but instead releasing them to the public directly.

Regarding the often quoted "aggressive dividends":
Let me take the blame here, because these are not friedcats words. Also I think there is massive confusion about what "aggressive" actually means. Thus let me remove any ambiguity by posting the text from the respective communication:

Code:

(BoardMember1) so I underatand that the next payments to the shareholders shoudl happen in May....
(BoardMember2) regarding dividends, do you have a target for retained earnings vs. dividends?
(BoardMember2) if retained earnings is high we need to consider the security mechanisms for the company treasury.
(FC) At most 1:2. Most retained are for short-time spendings (license, wafer/components order). There are no long-time plan of retaining since we won't buy land/bond/etc.
(BoardMember2) Alternatively AM could get "invested" in related businesses
(BoardMember2) If no opportunities exist I agree to an aggressive dividend schedule

As you can see there is no determination of timing other than FC's statement that short-term spendings need to be covered. The "aggressiveness" describes the overall split between retaining and paying out. That said, even board members assumed that dividends would resume in May with a 1:2 split of retained:payout.

Finally, I am shocked by the amount of outrage caused by what could be considered an uneducated interpretation of some raw data. The resemblance of this being a deliberate attempt to prey on the lack of insight and patience of new investors is strong. As pointed out previously, the financials are hard to read without context and further explanations.

I am committed to provide further information as it becomes available. However, some of the information which is important for company valuation is actually also crucial to pricing sales and thus falls within the realm of confidential information. Thus you cannot expect that this kind of information be released to the public. Anything else would be a level of transparency which is rather uncommon in these industries.

Mental imagery of actual board meetings:

[yokione]

Then when we got word that the chips didn't quite spec out as well as anticipated, but we still saw 2 huge IPOs of former AM chinese shareholders still get pushed through to the public. That shouldve been the biggest red flag.

I only know of rockminer which is currently selling hardware. How exactly is this a red flag?

Everything that TAT insinuates in that chat long aligns with the narrative that AM is going to be bled out by rockminer, xtbec, and any other franchised buyer of those chips.

How exactly can AM be "bled out" by its customers?

come on, you're smart. I dont have to spell it out.


Consider any landscape where FC et al. want to wash themselves of AM's shareholders.

Please do spell it out for me. I have no idea what kind of situation you are imagining.

OK, jimmothy:

You own stock in company A, which makes widgets.
I own company A, and want to make your shares worthless.
I form company B, and form a contract to sell it my widgets at laughably low prices.
This bleeds out company A, while I get to keep all muh munyz through company B profits.

So now you know

Well, What if "I", the owner of company A, himself possesses more than 50% shares of company A? And "I" take a risk by collude with all the board members, who possess another 30% shares, only to bleed the rest 20% of the company out...

[houseofchill]

Thanks Jutarul

[arousedrhino]

As always thanks Jutarul!

[NotLambchop]

...
OK, jimmothy:

You own stock in company A, which makes widgets.
I own company A, and want to make your shares worthless.
I form company B, and form a contract to sell it my widgets at laughably low prices.
This bleeds out company A, while I get to keep all muh munyz through company B profits.

So now you know

Well, What if "I", the owner of company A, himself possesses more than 50% shares of company A? And "I" take a risk by collude with all the board members, who possess another 30% shares, only to bleed the rest 20% of the company out...

The TL;DR answer is you don't own 50% of company A, or any company.

What you do own is a few ASICMINER sharez, worth ~50% less than they used to be just a couple of days ago.  That's also bragworthy, in its own way.

Why start with outlandish hypotheticals when equally lulzy personal examples are at hand?

*Now that we're on the same page, what exactly did you wish to know?

[CrazyGuy]

Looking to buy direct AM shares, contact me via PM.

[yokione]

...
OK, jimmothy:

You own stock in company A, which makes widgets.
I own company A, and want to make your shares worthless.
I form company B, and form a contract to sell it my widgets at laughably low prices.
This bleeds out company A, while I get to keep all muh munyz through company B profits.

So now you know

Well, What if "I", the owner of company A, himself possesses more than 50% shares of company A? And "I" take a risk by collude with all the board members, who possess another 30% shares, only to bleed the rest 20% of the company out...

The TL;DR answer is you don't own 50% of company A, or any company.

What you do own is a few ASICMINER sharez, worth ~50% less than they used to be just a couple of days ago.  That's also bragworthy, in its own way.

Why start with outlandish hypotheticals when equally lulzy personal examples are at hand?

*Now that we're on the same page, what exactly did you wish to know?

Sorry, I'm not English native speaker, maybe I failed to express myself clear.
What I really want to mean is: FC himself already possesses more than 50% shares of AM through BitFountain. I don't find any good reason for him to take a risk by collude with all the board members, who possess another 30% shares, only to bleed the rest 20% of the AM out.

[aahzmundus]

The level of troll in this thread is too damn high.  Not that I want an eco chamber, but would anyone be for moving more thoughtful conversation and speculation elsewhere?  To where, I do not know... but it seems Goat's signature is more then accurate.

[arousedrhino]

The level of troll in this thread is too damn high.  Not that I want an eco chamber, but would anyone be for moving more thoughtful conversation and speculation elsewhere?  To where, I do not know... but it seems Goat's signature is more then accurate.

How about the completely sane speculation thread: https://bitcointalk.org/index.php?topic=235763.new#new

[Swordsoffreedom]

The level of troll in this thread is too damn high.  Not that I want an eco chamber, but would anyone be for moving more thoughtful conversation and speculation elsewhere?  To where, I do not know... but it seems Goat's signature is more then accurate.

How about the completely sane speculation thread: https://bitcointalk.org/index.php?topic=235763.new#new

You know things are weird when the speculation thread is the normal thread and the main thread is the one that is going bonkers

[AcoinL.L.C]

Dropped from $170 to $140 in less than 3 hours. Insane. At the rate its going AM shares will be lower than $100 within the next 6 hours 

[jimmothy]

Dropped from $170 to $140 in less than 3 hours. Insane. At the rate its going AM shares will be lower than $100 within the next 6 hours 

And after the dumping of 500 shares the price nearly doubled within hours! At this rate we will be at 4btc/share within a day.

[Ozziecoin]

Too early to dump. The real situation has not been made clear.

[RoadStress]

Too early to dump. The real situation has not been made clear.

Until you know how much profit do you make for each GH/s sold and how much profit do the distributors have for each GH/s sold things won't be clear.

[willBTC]

Too early to dump. The real situation has not been made clear.

Until you know how much profit do you make for each GH/s sold and how much profit do the distributors have for each GH/s sold things won't be clear.

As I know, per G price is 2.2RMB in china for the June's batch， but it's pre-order not for goods in stock.
link: http://www.cybtc.com/forum.php?mod=viewthread&tid=7951&highlight=%E7%83%A4%E7%8C%AB

[minerpumpkin]

Too early to dump. The real situation has not been made clear.

Until you know how much profit do you make for each GH/s sold and how much profit do the distributors have for each GH/s sold things won't be clear.

As I know, per G price is 2.2RMB in china for the June's batch， but it's pre-order not for goods in stock.
link: http://www.cybtc.com/forum.php?mod=viewthread&tid=7951&highlight=%E7%83%A4%E7%8C%AB

About 0.35 US$ for the lazy ones
Like suggested earlier, even 0.4 $/GH/s will be difficult to achieve. As long as the estimated production costs are not that far off, AM will make a profit but can hardly issue a dividend.

[zoro1]

I think AM should check out peershares method for distributing dividents.
Although it is in beta phase

[RoadStress]

Too early to dump. The real situation has not been made clear.

Until you know how much profit do you make for each GH/s sold and how much profit do the distributors have for each GH/s sold things won't be clear.

As I know, per G price is 2.2RMB in china for the June's batch， but it's pre-order not for goods in stock.
link: http://www.cybtc.com/forum.php?mod=viewthread&tid=7951&highlight=%E7%83%A4%E7%8C%AB

About 0.35 US$ for the lazy ones
Like suggested earlier, even 0.4 $/GH/s will be difficult to achieve. As long as the estimated production costs are not that far off, AM will make a profit but can hardly issue a dividend.

So 0.4$GH sold by the distributors? Do the distributors have a bigger profit margin than AM?