ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Dexter770221]

There's only 1,000,000 units on havelock. Rest 4PH will mine for AM?

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[hdbuck]

damn, so apparently, FC (and boardmembers) prolonged absence could partly be explained by the fact that china has indeed restricted access to bitcointalk:

bitcointalk has been totally blocked by china interenet so i cannot login very often

are there anymore chinese people in here

We all use VPNs in China. Without them we wouldn't have google, Facebook, twitter, BBC news (sometimes), etc etc

Personally, i never go online without a VPN because I'm paranoid about Big Brother watching me...

Hum cuz google facebook et al arent big brothering somehow?!

[jdany]

I'm guessing this is a great way to get the rest of the chip inventory on the street pretty quickly.
Especially if GEN 4 is really on the horizon.
Get that chip inventory hashing before if spoils on the shelf.

[hdbuck]

I'm guessing this is a great way to get the rest of the chip inventory on the street pretty quickly.
Especially if GEN 4 is really on the horizon.
Get that chip inventory hashing before if spoils on the shelf.

I just expect to see the cash for the HW they are deploying. Financials will be quite interesting..

[Puppet]

Its just the rouding error. Im curious how much they will sell. Id be very surprised if they sold out.

[RoadStress]

That's my thoughts too, but that makes it $49/month for a TH which I find too cheap. for a 0.7W/GH that would mean 700W for a TH and a power cost of just 0.03$/kWh. It's either that cheap or something is fishy here. And if AM can get so cheap power why didn't they self mined faster or stronger? That power cost is a miner's wet dream.

Can you clarify how you get to $0.03/kWh?
I get the following:
For 0.7 kWh for a TH and 0.1$/kWh, we get (about) 0.7*24*30*0.1 = $50.4 per month in electricty costs.
So these maintenance fees indicate that AM gets electricity for less than $0.1/kWh. It does not indicate they get electricity for less than $0.03/kWh.
That's much more reasonable (and not even particularly cheap if they indeed pay $0.1/kWh, but I would assume they pay somewhat less).

Ok I am bad at math.

@roadstress I see you posting but choosing not to acknowledge the post I made in reply to your comment yesterday.

I am not working at SP-Tech to be able to reply to you and I am not trying to sell anything. Can we focus on my posts, not on my signature?

[Jayjay04]

There's only 1,000,000 units on havelock. Rest 4PH will mine for AM?

I think there is another big mistake.

Each share is worth 5 Gh/s, that is why there is only 1 000 000 shares available !

[rudi]

There's only 1,000,000 units on havelock. Rest 4PH will mine for AM?

I think there is another big mistake.

Each share is worth 5 Gh/s, that is why there is only 1 000 000 shares available !

Hm the share price is clearly listed as ฿0.00125000.
So if each share is worth 5 GH/s, that's ฿0.25 per TH/s. That's not likely.

I think it's more likely that they're just selling the shares in batches. This would be the first batch of 1 million shares.

[jdany]

I'll take 5TH for 1.25 Bitcoin
Sold!

[LiteBit]

There's only 1,000,000 units on havelock. Rest 4PH will mine for AM?

I think there is another big mistake.

Each share is worth 5 Gh/s, that is why there is only 1 000 000 shares available !

Hm the share price is clearly listed as ฿0.00125000.
So if each share is worth 5 GH/s, that's ฿0.25 per TH/s. That's not likely.

I think it's more likely that they're just selling the shares in batches. This would be the first batch of 1 million shares.

My guess is batches.  This is off of their Havelock details page:

The Fund is divided into 5 million (5,000,000) units each of which represents 1Gigahash per second.

[Mabsark]

but the old shares AM1, are automatically included in this project?
 

Not, i wonder why people actually arent more outraged by this ...

Why would people be outraged? It's not like AM have given away 5 Ph/s to Havelock. Any profit from AMHash will obviously be included in AM's dividends just like profit from the sales of miners are. To suggest otherwise is simply ridiculous.

[Blazed]

It seems like the shares are selling at a decent pace. I just do not understand why people buy these mining contracts...there is no profit that can be made. My guess is that the shareholders will get some benefit to this...then again who knows how much is AM's versus how much is Rockminers. Now would be a good time for AM to make some sort of announcement.

[rockxie]

There's only 1,000,000 units on havelock. Rest 4PH will mine for AM?

There is 5 blocks for sales,each block is 1P,when a block is sold out,the next 1P will start automaticly.

[rockxie]

There's only 1,000,000 units on havelock. Rest 4PH will mine for AM?

I think there is another big mistake.

Each share is worth 5 Gh/s, that is why there is only 1 000 000 shares available !

Each share is worth 1Gh/s.

[Mabsark]

It seems like the shares are selling at a decent pace. I just do not understand why people buy these mining contracts...there is no profit that can be made. My guess is that the shareholders will get some benefit to this...then again who knows how much is AM's versus how much is Rockminers. Now would be a good time for AM to make some sort of announcement.

AM shareholders would benefit even if the miners belonged to Rockminer because they purchased the chips from AM.

[elasticband]

That's my thoughts too, but that makes it $49/month for a TH which I find too cheap. for a 0.7W/GH that would mean 700W for a TH and a power cost of just 0.03$/kWh. It's either that cheap or something is fishy here. And if AM can get so cheap power why didn't they self mined faster or stronger? That power cost is a miner's wet dream.

Can you clarify how you get to $0.03/kWh?
I get the following:
For 0.7 kWh for a TH and 0.1$/kWh, we get (about) 0.7*24*30*0.1 = $50.4 per month in electricty costs.
So these maintenance fees indicate that AM gets electricity for less than $0.1/kWh. It does not indicate they get electricity for less than $0.03/kWh.
That's much more reasonable (and not even particularly cheap if they indeed pay $0.1/kWh, but I would assume they pay somewhat less).

Ok I am bad at math.

@roadstress I see you posting but choosing not to acknowledge the post I made in reply to your comment yesterday.

I am not working at SP-Tech to be able to reply to you and I am not trying to sell anything. Can we focus on my posts, not on my signature?

I never said you were selling anything or working for SP. You made a comment regarding AM's chip efficiency, I made a comparison against the HW being sold by the vendor in you affiliate link (where i presume if you collect enough orders you get something, but that's none of my business), but you say you cannot comment...... okay 

[hdbuck]

It seems like the shares are selling at a decent pace. I just do not understand why people buy these mining contracts...there is no profit that can be made. My guess is that the shareholders will get some benefit to this...then again who knows how much is AM's versus how much is Rockminers. Now would be a good time for AM to make some sort of announcement.

AM shareholders would benefit even if the miners belonged to Rockminer because they purchased the chips from AM.

Still waiting for "benefits" tho. This is starting to annoy me. I dont like the idea of another ipo considering how fc behave lately. You cant just ask for more money like that.

Im not gonna put a single satoshi in this new venture as i dont get my divs from AM.

Edit: he is not even the one asking. Instead he is mandating rockxie an havelock to do so...

[Blazed]

It seems like the shares are selling at a decent pace. I just do not understand why people buy these mining contracts...there is no profit that can be made. My guess is that the shareholders will get some benefit to this...then again who knows how much is AM's versus how much is Rockminers. Now would be a good time for AM to make some sort of announcement.

AM shareholders would benefit even if the miners belonged to Rockminer because they purchased the chips from AM.

I would assume so, but who knows how that deal works. I think the cloud mining was a pretty good call for both AM and RM. Always better to sell the hash upfront as they make more that way then they ever could mining. Selling hosted mining only makes the seller profits..definitely not the buyer!

[amhash]

It seems like the shares are selling at a decent pace. I just do not understand why people buy these mining contracts...there is no profit that can be made. My guess is that the shareholders will get some benefit to this...then again who knows how much is AM's versus how much is Rockminers. Now would be a good time for AM to make some sort of announcement.

1.If you are going to buy hashrate or miners, AMHash will be the best one.
2.Just as we said in the prospectus, AM will supply the hashrate ,RM will sell and manage it.

[FUR11]

Well, this is merely a co-founded cloud mining project and contract, he's selling. This is effectively just a product ASICMiner is selling to people who are interested. The regular AM1 shares own a part of the company, therefore they're de-facto entitled to the revenue of this project (which first flows into the company, dividends only consist of what FC decides to forward to the shareholders)