ASICMINER: Entering the Future of ASIC Mining by Inventing It

[bitcoin.newsfeed]

So for every 100s of my full shares I can get 15Th/s of mining gear for free from AM ? And I will get normal company dividends for that shares, plus 20% of what I mined "at home" as franchise? And that shares are held as collateral in case I get robbed, I run away, or don't provide expected hashing power to the pool(cheating, self mining, not mining for AM but myself). Good.

If this is the case, it's nice franchise program also for small miners and nice bonus for us, shareholders

Interesting idea

EDIT : AND it creates a demand for AM shares, because if you want to be franchise(in this program), you must own shares.

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[xhomerx10]

So for every 100s of my full shares I can get 15Th/s of mining gear for free from AM ? And I will get normal company dividends for that shares, plus 20% of what I mined "at home" as franchise? And that shares ale held as collateral in case I get robbed, I run away, or don't provide expected hashing power to the pool(cheating, self mining, not mining for AM but myself). Good.

If this is the case, it's nice franchise program also for small miners and nice bonus for us, shareholders

Interesting idea

EDIT : AND it creates a demand for AM shares, because if you want to be franchise(in this program), you must own shares.

 So I can buy 100 shares for 20 bitcoins, put them up for collateral, get 20% of the mining paying my own electricity costs out of it and at the end of it all, I get my 100 shares back?  Well guess what.  At 15 cents US per kW.h and Bitcoin at $650 USD your power costs ARE  20% of what you could generate today!  You get nothing but loss from this venture.

 15 TH/s generates 0.4485 BTC per 24 hours
 1 kW.h @ 0.15 cents US = 0.000230769231 BTC /kW.h
 15 TH/s of AM GEN3 uses ~ 16.5 kW
 16.5 kW.h x 24h x 0.000230769231 BTC/kW.h = 0.091384615476 BTC
 20% of your production (0.4485 BTC per 24 hours) =  0.0897 BTC

 As you can see, it sucks.  Also, when diff goes up, it sucks worse.  
Check my math but I think I'm right.


  


 

[bitcoin.newsfeed]

So I can buy 100 shares for 20 bitcoins, put them up for collateral, get 20% of the mining paying my own electricity costs out of it and at the end of it all, I get my 100 shares back?  

You're still owner of shares, that shares are *receiving* dividends as usual plus 20% of mining profits from that 15Th/s (seems like that to me)

Well guess what.  At 0.15 cents US per kW.h and Bitcoin at $650 USD your power costs ARE  20% of what you could generate today!  You get nothing but loss from this venture.

 15 TH/s generates 0.4485 BTC per 24 hours
 1 kW.h @ 0.15 cents US = 0.000230769231 BTC /kW.h
 15 TH/s of AM GEN3 uses ~ 16.5 kW
 16.5 kW.h x 24h x 0.000230769231 BTC/kW.h = 0.091384615476 BTC
 20% of your production (0.4485 BTC per 24 hours) =  0.0897 BTC

 As you can see, it sucks.  Also, when diff goes up, it sucks worse.  
Check my math but I think I'm right.

That math is correct. But for somebody who has access to really cheap or free electricity, this deal is no brainer. Even with 0.15 cents/kW.h , you're making free 0.09 BTC (ups , I forgot about electricity cost, so yes, with 0.15 cents/kW.h you are making zero for you) every day + you're contributing with another 0.3588 to AM dividends for all shareholders(so you as miner get cut from this too). The more I think about this ... mastermind idea, also it helps decentralization  

edit : what about combine this with some hosting in Iceland ?

[silverfuture]

Isn't the 80/20 split done after the power is paid for? That way it is the profit you are splitting. It doesn't make sense otherwise.

[JoTheKhan]

Isn't the 80/20 split done after the power is paid for? That way it is the profit you are splitting. It doesn't make sense otherwise.

That would actually be a lot better. The profit looks really nice like this.

[NotLambchop]

...
edit : what about combine this with some hosting in Iceland ?

I see gargantuan potential here, maybe get IceDrill Will interested?
I remember talk of hot water for apartments, but this is more Regal...

[bitcoin.newsfeed]

Isn't the 80/20 split done after the power is paid for? That way it is the profit you are splitting. It doesn't make sense otherwise.

That would actually be a lot better. The profit looks really nice like this.

Yes, great point. It is. 

... franchising will get 20% mining profit when deduct the electric fee .

[mc_lovin]

It would be very exciting to be a mini franchise.  Us Canadians have the cheapest electricity around, too.

DEFINITELY something to ponder!  Crazy idea but it's so crazy it just.. might.. work..

[jdany]

I have asked Friedcat about the franchising mining farm,Friedcat replied me by E-mail that the franchising mining farm will be work after the mid of July.

BTW, I  will be a small franchise partner too    

each 100 Asciminer shares will  mortgage 15T hashrate .  franchising will get 20% mining profit when deduct the electric fee .

Any details on how it works?   
Any idea who's hardware they'll be using?

[dropt]

I see gargantuan potential here, maybe get IceDrill Will interested?

Sure, if you never want to see your payouts or hardware again.

[bitcoin.newsfeed]

I see gargantuan potential here, maybe get IceDrill Will interested?

Sure, if you never want to see your payouts or hardware again.

It's NotLambchop , it was irony

[Chris_Sabian]

I see gargantuan potential here, maybe get IceDrill Will interested?

Sure, if you never want to see your payouts or hardware again.

Oh please.  Let's not start a discussion about them.  That was a bad time...

[xhomerx10]

Isn't the 80/20 split done after the power is paid for? That way it is the profit you are splitting. It doesn't make sense otherwise.

 Sure your way makes economic sense for the person mining but I think it would become an administrative nightmare for AM to figure out the energy costs for each miner.  If AM uses all 60 PH worth of chips - that's 4000 x 15TH franchises.

[silverfuture]

Isn't the 80/20 split done after the power is paid for? That way it is the profit you are splitting. It doesn't make sense otherwise.

 Sure your way makes economic sense for the person mining but I think it would become an administrative nightmare for AM to figure out the energy costs for each miner.  If AM uses all 60 PH worth of chips - that's 4000 x 15TH franchises.

That is just a problem to solve that would be easier than solving the problem of no one wanting to run a franchise and pay for the power out of their share and no profit. They could pay a flat rate of btc converted at market price per Kwh and potential franchisees could decide if they want to participate or not at those power rates. People with lower power rates would profit slightly more than others.

[He1l_Q]

What makes you think that's a scam?  Looks like a real piece of hardware built off of a specific design AM published a month or so ago as open source...  Remember?  The sexy one with the amazing heatsink design that everyone wanted just for looks.  Hell... I want one just to put on a shelf, fuck if it makes ROI!

this their official site: http://www.edentech.org.cn/

Do you think a normal commercial company would use a domain (org.cn) like this?

Why don't they show us some videos rather than only ONE blurry and small photo?

Besides, I think you might agree that PRE-order is almost means a SCAM in this industry.

btw, I have some shares of AM. That's to say, if this company do exists and is using chips from AM, it will be a good news for us all.

The sales of this company said the device was desinged by AM, they just sell it.
He also said FC will approve it tomorrow, just waiting.

There is no update from FC.

Do you still think the seller is a honest guy?

[webbrowser]

Isn't the 80/20 split done after the power is paid for? That way it is the profit you are splitting. It doesn't make sense otherwise.

Hell, no.

If the split happens after power is paid for, cryptx would be on this in an instant.

As long as all the hashpower gets sold or deployed, it is in AM's interests to restrict the franchise program to those with cheap electricity.


Now, the thing I don't understand is - if AM is able to ship real miners (not just chips) to franchisees, surely they should have fully deployed in their immersion cooling facility by now?

[szmarco]

Isn't the 80/20 split done after the power is paid for? That way it is the profit you are splitting. It doesn't make sense otherwise.

Hell, no.

If the split happens after power is paid for, cryptx would be on this in an instant.

As long as all the hashpower gets sold or deployed, it is in AM's interests to restrict the franchise program to those with cheap electricity.


Now, the thing I don't understand is - if AM is able to ship real miners (not just chips) to franchisees, surely they should have fully deployed in their immersion cooling facility by now?

AM does not have enough and cheap electrical power to deploy all devices.

[webbrowser]

Isn't the 80/20 split done after the power is paid for? That way it is the profit you are splitting. It doesn't make sense otherwise.

Hell, no.

If the split happens after power is paid for, cryptx would be on this in an instant.

As long as all the hashpower gets sold or deployed, it is in AM's interests to restrict the franchise program to those with cheap electricity.


Now, the thing I don't understand is - if AM is able to ship real miners (not just chips) to franchisees, surely they should have fully deployed in their immersion cooling facility by now?

AM does not have enough and cheap electrical power to deploy all devices.

That is clear - why else franchise? 

But my question was why not fill up their own immersion cooling facility in parallel?  It shouldn't take long, if DTM's prospectus is to be believed, so I expect that would happen faster than franchising.

[spartan82]

Anyone looking to sell out direct shares send me a PM with your offers. Bitcoin and/or fiat option is fine with me too..

[EternalWingsofGod]

Isn't the 80/20 split done after the power is paid for? That way it is the profit you are splitting. It doesn't make sense otherwise.

Hell, no.

If the split happens after power is paid for, cryptx would be on this in an instant.

As long as all the hashpower gets sold or deployed, it is in AM's interests to restrict the franchise program to those with cheap electricity.


Now, the thing I don't understand is - if AM is able to ship real miners (not just chips) to franchisees, surely they should have fully deployed in their immersion cooling facility by now?

AM does not have enough and cheap electrical power to deploy all devices.

Think they are working on more options why containers exist and are being developed
The chips are for now I guess to save them hassles of doing both