ASICMINER: Entering the Future of ASIC Mining by Inventing It

[glendall]

''''''' I hear that, all good points.  I know what you are saying.... I could both imagine, 6 months from now, AM regaining a big chunk of the mining world, or just as likely, folding. Its a complete toss up.

Sure FC likes to keep his cards close to his chest, but this just don't work well at being a publicly traded company at the same time. I realized it just sort of developed into one w/o his intention to do so (beyond the original shareholders), but still.

[hdbuck]

Im fed up with the lack of info too.
Yet im more and more convinced thats perfectly normal.
FC made a conf in august. Showed himself to the world and announced some sort of checkmate plan.. and then disapeared. Along with the boardmembers...

And this is where one should upload some submarine pics.

[glendall]

At least with that Russian sub by Sweden this last week there was some evidence it was around 

[hdbuck]

At least with that Russian sub by Sweden this last week there was some evidence it was around 

Hehe i was waiting for that story too

[Chris_Sabian]

Im fed up with the lack of info too.
Yet im more and more convinced thats perfectly normal.
FC made a conf in august. Showed himself to the world and announced some sort of checkmate plan.. and then disapeared. Along with the boardmembers...

And this is where one should upload some submarine pics.

The lack of information may due to increased competition and preventing competitors from knowing about key events.  In 'real world' companies, the CEO and board of directors give quarter reports, no updates on everything that is happening to the company on a daily basis.

[explorer]

Im fed up with the lack of info too.
Yet im more and more convinced thats perfectly normal.
FC made a conf in august. Showed himself to the world and announced some sort of checkmate plan.. and then disapeared. Along with the boardmembers...

And this is where one should upload some submarine pics.

Lol I suppose this should be more on the speculation thread, but it has been months since any info...  that info was very promising though.  BE 300 will take us to the moon in the exa hash age. Or to the seafloor.  I am counting on moon, as I don't care for deep water

[sngwinner]

Im fed up with the lack of info too.
Yet im more and more convinced thats perfectly normal.
FC made a conf in august. Showed himself to the world and announced some sort of checkmate plan.. and then disapeared. Along with the boardmembers...

And this is where one should upload some submarine pics.

The lack of information may due to increased competition and preventing competitors from knowing about key events.  In 'real world' companies, the CEO and board of directors give quarter reports, no updates on everything that is happening to the company on a daily basis.

They also provide detailed financials and outline a business strategy and plan. It would be nice to know what the financial status of the company is. Also they were supposed to be aggressive with dividends. When you establish that and then don't pay any dividends it deserves some explaining.

[FUR11]

Yeah, it's unnerving! But not unheard of. FC kept silent before... I still believe in him. Gen 3 was a lot of bad luck, a declining BTC price, and a stronger competition. I think he will only announce gen 4, when it's ready and confirmed to work. As not to create a disappointment!

[sngwinner]

Yeah, it's unnerving! But not unheard of. FC kept silent before... I still believe in him. Gen 3 was a lot of bad luck, a declining BTC price, and a stronger competition. I think he will only announce gen 4, when it's ready and confirmed to work. As not to create a disappointment!

But there are plenty of other things to update besides progress on gen 4! What's our hashrate? Do we have franchisees hashing away? What do our financials look like? How many gen 3 chips do we have left that we won't be using to self mine?

[FUR11]

Yeah, it's unnerving! But not unheard of. FC kept silent before... I still believe in him. Gen 3 was a lot of bad luck, a declining BTC price, and a stronger competition. I think he will only announce gen 4, when it's ready and confirmed to work. As not to create a disappointment!

But there are plenty of other things to update besides progress on gen 4! What's our hashrate? Do we have franchisees hashing away? What do our financials look like? How many gen 3 chips do we have left that we won't be using to self mine?

I guess FC considers those information 'secret'. Maybe he deems it important not to give those information away to the competition, for some reason. The most probable explanation, though would be that he simply does not care to tell us. He's still honest, and working for his shareholders, yet he doesn't see the need in answering our questions.

[sngwinner]

Yeah, it's unnerving! But not unheard of. FC kept silent before... I still believe in him. Gen 3 was a lot of bad luck, a declining BTC price, and a stronger competition. I think he will only announce gen 4, when it's ready and confirmed to work. As not to create a disappointment!

But there are plenty of other things to update besides progress on gen 4! What's our hashrate? Do we have franchisees hashing away? What do our financials look like? How many gen 3 chips do we have left that we won't be using to self mine?

I guess FC considers those information 'secret'. Maybe he deems it important not to give those information away to the competition, for some reason. The most probable explanation, though would be that he simply does not care to tell us. He's still honest, and working for his shareholders, yet he doesn't see the need in answering our questions.

The problem is, your boldest statement can't be verified. He hasn't paid a dividend and there is no accounting for the company's revenues or assets and liabilities. I'm not trying to spread FUD, but maybe other people will realize why FC should address shareholders instead of just trusting he's working for us. Everyone should also take everything I'm saying with a grain of salt because I own less than 0.01% of the outstanding shares in this company

[mrlupin]

In a few words:

 - No upside. There is absolutely no upside whatsoever in revealing the strategy to the public. Rule #1 of business, don't give away your strategy. If you do, it's for pushing around the competition or raise money. They don't need to do any of that right now.

 - You have no power. if FC had wanted to run away you could not do anything about it anyways. Info or no info.
 With info: No one would want to buy your shares.
 Without info, you would not know, but the market would be so thin no one would buy.

 - You have proof of honesty and no proof of dishonesty. Honesty is demonstrated by track record, products shipping and conference. Not by incessant online blabbering ("communication"). Cf. all the other scams who gave ample information about things that did not exist.

A final word if you are still not convinced: if AM was a scam, they would try to unload as many shares as possible at a high price. For that they would communicate a lot and build expectation to jack up the stock price. That did not happen.

Investing is not for everyone, you need an attention span of months and determination. If you don't have the necessary attention span, it's called speculation. AM has designed its business and communication strategy to attract investors and shake off the speculators. This situation is ideal, the insecure are leaving the boat so that only the ones with strong will stay - therefore the stock price will be steadier over time.

[FUR11]

In a few words:

 - No upside. There is absolutely no upside whatsoever in revealing the strategy to the public. Rule #1 of business, don't give away your strategy. If you do, it's for pushing around the competition or raise money. They don't need to do any of that right now.

 - You have no power. if FC had wanted to run away you could not do anything about it anyways. Info or no info.
 With info: No one would want to buy your shares.
 Without info, you would not know, but the market would be so thin no one would buy.

 - You have proof of honesty and no proof of dishonesty. Honesty is demonstrated by track record, products shipping and conference. Not by incessant online blabbering ("communication"). Cf. all the other scams who gave ample information about things that did not exist.

A final word if you are still not convinced: if AM was a scam, they would try to unload as many shares as possible at a high price. For that they would communicate a lot and build expectation to jack up the stock price. That did not happen.

Investing is not for everyone, you need an attention span of months and determination. If you don't have the necessary attention span, it's called speculation. AM has designed its business and communication strategy to attract investors and shake off the speculators. This situation is ideal, the insecure are leaving the boat so that only the ones with strong will stay - therefore the stock price will be steadier over time.

Yes, this essentially is what I'm thinking. Playing the devil's advocate though I gotta say that FC may simply fail in achieving his targets, not because of being fraudulent, but rather incompetent (~ Hanlon's Razor). I don't think this is the case, but we can't rule it out.

sngwinner, what I stated was merely an assumption, not a bold claim You are completely right by staying careful!

[Puppet]

In a few words:

 - No upside. There is absolutely no upside whatsoever in revealing the strategy to the public. Rule #1 of business, don't give away your strategy. If you do, it's for pushing around the competition or raise money. They don't need to do any of that right now.

Thats simply untrue in the zero sum game that the mining market is. If anything, you *want* to let your competitors know, possibly even exaggerate what your plans are.

Make everyone believe you will have x exahash online online in y months with 0.1W/GH would go a long way to kill your competition stone dead, both by stopping them from getting (pre)oders and making them and their investors think twice about their own planned capacity. Why do you think bitfury is making public what they are aiming for and the capacity they are planning to put online? Id quiver in my boots if I ran a large scale mining op. Or for that matter, held AM shares. 100MW and 0.2J/GH in a few months. 0.1J/GH next year. Fuck me, if BFL had said that Id shrug it off, but when bitfury says that, especially after securing the funding,  it aint a joke.

With info: No one would want to buy your shares.

I guess its not "good info" that you are thinking off.

[mrlupin]

In a few words:

 - No upside. There is absolutely no upside whatsoever in revealing the strategy to the public. Rule #1 of business, don't give away your strategy. If you do, it's for pushing around the competition or raise money. They don't need to do any of that right now.

Thats simply untrue in the zero sum game that the mining market is. If anything, you *want* to let your competitors know, possibly even exaggerate what your plans are.

Make everyone believe you will have x exahash online online in y months with 0.1W/GH would go a long way to kill your competition stone dead, both by stopping them from getting (pre)oders and making them and their investors think twice about their own planned capacity. Why do you think bitfury is making public what they are aiming for and the capacity they are planning to put online? Id quiver in my boots if I ran a large scale mining op. Or for that matter, held AM shares. 100MW and 0.2J/GH in a few months. 0.1J/GH next year. Fuck me, if BFL had said that Id shrug it off, but when bitfury says that, especially after securing the funding,  it aint a joke.

Fair point, I think we agree, goes back to what I said about raising money and pushing around the competition, looks like it's what BitFury did and is now trying to do respectively . So now AM has a strategic advantage, Bitfury has revealed its plan and AM hasn't. AM can decide whether they think it's true or not and whether they want to act on it or not.

e.g.
- by finding who the suppliers of Bitfury are and cutting deals with them
- then by finding who the customers and distributors of Bitfury are and cutting deals with them
- then by starving BitFury based on price and going to their VC to get the next round of funding showing them their strategic superiority
- then by poaching demoralized BitFury employees

Or simply
- by outdoing BitFury on volume

AM has a large stash of cash, not sure about BitFury, a simple approach would be to prevent BitFury from doing any sales for the next year by selling at a lower price, starve off BitFury then either buy them or poach their employees.

I am not advocating they should do any of that, but it could be an effective and merciless strategy (yet somewhat dirty and costly).

[Puppet]

I'll have some of what you are smoking..

[RoadStress]

In a few words:

 - No upside. There is absolutely no upside whatsoever in revealing the strategy to the public. Rule #1 of business, don't give away your strategy. If you do, it's for pushing around the competition or raise money. They don't need to do any of that right now.

Thats simply untrue in the zero sum game that the mining market is. If anything, you *want* to let your competitors know, possibly even exaggerate what your plans are.

Make everyone believe you will have x exahash online online in y months with 0.1W/GH would go a long way to kill your competition stone dead, both by stopping them from getting (pre)oders and making them and their investors think twice about their own planned capacity. Why do you think bitfury is making public what they are aiming for and the capacity they are planning to put online? Id quiver in my boots if I ran a large scale mining op. Or for that matter, held AM shares. 100MW and 0.2J/GH in a few months. 0.1J/GH next year. Fuck me, if BFL had said that Id shrug it off, but when bitfury says that, especially after securing the funding,  it aint a joke.

Fair point, I think we agree, goes back to what I said about raising money and pushing around the competition, looks like it's what BitFury did and is now trying to do respectively . So now AM has a strategic advantage, Bitfury has revealed its plan and AM hasn't. AM can decide whether they think it's true or not and whether they want to act on it or not.

e.g.
- by finding who the suppliers of Bitfury are and cutting deals with them
- then by finding who the customers and distributors of Bitfury are and cutting deals with them
- then by starving BitFury based on price and going to their VC to get the next round of funding showing them their strategic superiority
- then by poaching demoralized BitFury employees

Or simply
- by outdoing BitFury on volume

AM has a large stash of cash, not sure about BitFury, a simple approach would be to prevent BitFury from doing any sales for the next year by selling at a lower price, starve off BitFury then either buy them or poach their employees.

I am not advocating they should do any of that, but it could be an effective and merciless strategy (yet somewhat dirty and costly).

"AM has strategic advantage for not revealing their plans"...wow...simply WOW!Another blind shareholder...This is not a Tom Cruise movie and while AM has their supposed strategic advantage Bitfury is bringing lots of MW online.

[mrlupin]

Bitcoin hashrate today: 250 Ph and flat
https://blockchain.info/charts/hash-rate?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

BitFury: 100 MW with .2 J/Gh = 500 Ph

If BitFury wants to roll out 500Ph and control less than 51% they need to:
 - 1) either have the network reach 1 Eh, therefore they need someone else to add another 250Ph
 - 2) either start selling and shipping their hardware / chips, in which case the 100MW argument becomes irrelevant.

Let's go with 1), 250 Ph / 1 Eh = 25% of the network

Who is going to sell / own those 250 Ph?
Seems in line with AM's plan.

[sngwinner]

In a few words:

 - No upside. There is absolutely no upside whatsoever in revealing the strategy to the public. Rule #1 of business, don't give away your strategy. If you do, it's for pushing around the competition or raise money. They don't need to do any of that right now.

 - You have no power. if FC had wanted to run away you could not do anything about it anyways. Info or no info.
 With info: No one would want to buy your shares.
 Without info, you would not know, but the market would be so thin no one would buy.

 - You have proof of honesty and no proof of dishonesty. Honesty is demonstrated by track record, products shipping and conference. Not by incessant online blabbering ("communication"). Cf. all the other scams who gave ample information about things that did not exist.

A final word if you are still not convinced: if AM was a scam, they would try to unload as many shares as possible at a high price. For that they would communicate a lot and build expectation to jack up the stock price. That did not happen.



Investing is not for everyone, you need an attention span of months and determination. If you don't have the necessary attention span, it's called speculation. AM has designed its business and communication strategy to attract investors and shake off the speculators. This situation is ideal, the insecure are leaving the boat so that only the ones with strong will stay - therefore the stock price will be steadier over time.

Yes, this essentially is what I'm thinking. Playing the devil's advocate though I gotta say that FC may simply fail in achieving his targets, not because of being fraudulent, but rather incompetent (~ Hanlon's Razor). I don't think this is the case, but we can't rule it out.

sngwinner, what I stated was merely an assumption, not a bold claim You are completely right by staying careful!

It should have read bolded not boldest. Sorry, autocorrect. Overall I still believe and trust in Friedcat but I do want an update on what's going on and trying to show that it isn't a bad idea for fried car to give some insight.

[stompysteve]

In a few words:

 - No upside. There is absolutely no upside whatsoever in revealing the strategy to the public. Rule #1 of business, don't give away your strategy. If you do, it's for pushing around the competition or raise money. They don't need to do any of that right now.

 - You have no power. if FC had wanted to run away you could not do anything about it anyways. Info or no info.
 With info: No one would want to buy your shares.
 Without info, you would not know, but the market would be so thin no one would buy.

 - You have proof of honesty and no proof of dishonesty. Honesty is demonstrated by track record, products shipping and conference. Not by incessant online blabbering ("communication"). Cf. all the other scams who gave ample information about things that did not exist.

A final word if you are still not convinced: if AM was a scam, they would try to unload as many shares as possible at a high price. For that they would communicate a lot and build expectation to jack up the stock price. That did not happen.



Investing is not for everyone, you need an attention span of months and determination. If you don't have the necessary attention span, it's called speculation. AM has designed its business and communication strategy to attract investors and shake off the speculators. This situation is ideal, the insecure are leaving the boat so that only the ones with strong will stay - therefore the stock price will be steadier over time.

Yes, this essentially is what I'm thinking. Playing the devil's advocate though I gotta say that FC may simply fail in achieving his targets, not because of being fraudulent, but rather incompetent (~ Hanlon's Razor). I don't think this is the case, but we can't rule it out.

sngwinner, what I stated was merely an assumption, not a bold claim You are completely right by staying careful!

It should have read bolded not boldest. Sorry, autocorrect. Overall I still believe and trust in Friedcat but I do want an update on what's going on and trying to show that it isn't a bad idea for fried car to give some insight.

autocorrect from friedcat to fried car lol

Hopefully some news by the end of the month after prismas round 1 is over(27th)  I feel like theres a reason for a date being set for then I dont see price being dropped lower yet