ASICMINER: Entering the Future of ASIC Mining by Inventing It

[RoadStress]

Stop talking out your arse. I have no problem with criticising AM and AM shareholders and have been extremely vocal in that regard myself, for example:

It's my opinion that a lot of investors simply don't understand how mining works. If they did, then they would understand that AM hardware and shares are vastly overpriced.
............

All you do though, is try to wind people up.

You did it all wrong. You raised an issue about the Blades that were selling like hot cakes. The blades were a good business decision at that time in my opinion.

I have a problem with the 2014 decisions. Show me a proof of you criticizing AM this year because in my view the fall started this year, not last year. Last and this year are totally different things.

[1713575999]

1713575999

[1713575999]

1713575999

[1713575999]

1713575999

[KarmaShark]

Those "IPOs" are idiotic. AMHash isn't selling shares in some company. They're supposed to be selling hashing power yet had no shares up for a good few days and the price went above IPO price. So AMHash could have sold more shares but didn't. To limit the amount of time those shares are available to purchase is simply lunacy, they need to be available to purchase round the clock.

And they need to be promoted too. I've seen fuck all in that regards except unofficial promotion by shareholders.

Are you and I the only two that have been scratching our heads over how this has been handled? Where is the value in staggering these mining contract offerings out over weeks and possibly months? If there is 25PH to sell off today, why not offer it all at once instead of leaving batches of PH off the market for weeks on end as the network grows? (albeit at a slower rate these days). The only way this makes any sense to me is if the other 20PH that is slated to be offered in contracts is already being used for self-mining, where it is a simple matter of changing ownership of the GH's on paper and sending the dividends to the owner of the GH's. And even in this case, I still do not see the value in staggering the release of the PH.


You can self-mine with it until you have offloaded the chips via shares of GH's to someone else and let it be, pocket the BTC and move on. I could be missing some key pieces of Fried Cat's strategy here so feel free to fill in some blanks. It is tough to know for sure given AM's recent history of blunders if this is a mistake or a well thought out decision by the company. Gives people something to discuss at least, there isn't much else going in for a while.

They are self-mining with the remaining hashing power according to Rockxie so at least they got that part right but as said, it's simply insane to not have "shares" available to sell constantly, especially given that AM are experiencing difficulty selling hashing power.

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

[RoadStress]

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

When I asked the same question the angry shareholder group accused me of promoting SP-Tech. Let's see what's the answer now.

[Mabsark]

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

According to FC, AM have been self-mining since mid-July. Also, as far as I can remember, the hash rate was never posted by AM for gen 1. But we were told that we'd get a hash meter this time round, so fuck knows what's going on with that or anything else related to AM

I think it's time us shareholders started asking about buying out bitfountain.

[RoadStress]

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

According to FC, AM have been self-mining since mid-July. Also, as far as I can remember, the hash rate was never posted by AM for gen 1. But we were told that we'd get a hash meter this time round, so fuck knows what's going on with that or anything else related to AM

I think it's time us shareholders started asking about buying out bitfountain.

It was posted for gen1 chips: http://www.asicminercharts.com/live/

[KarmaShark]

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

According to FC, AM have been self-mining since mid-July. Also, as far as I can remember, the hash rate was never posted by AM for gen 1. But we were told that we'd get a hash meter this time round, so fuck know what's going on with that.

I think it's time us shareholders started asking about buying out bitfountain.

You are right, I think it may have been one of the shareholders that built an application and ran it from a website that we all made use of, good memory. I really hope this situation doesn't have to turn ugly, we only have 5 weeks to go before we are in the thick of things again. The way I see it, this show is over soon or everything is back to partying like it is 1999 (for a little while, this is the mining industry after all).

If AM cannot get Gen4 right there is no conjecture here, the company will be out of money and out of time. My point? We do not have much longer to wait, the chips will pass or they will fail, and if they fail the share price will take the stock down to worthlessness. I am going to sit tight and let the company prove its worth, my faith is eroded however there is no other direct investment opportunity in the mining industry, and this one has massive upside if they can execute.


The excruciating pain shareholders are feeling will be over soon, one way or the other.

[Mabsark]

It was posted for gen1 chips: http://www.asicminercharts.com/live/

That was an unofficial site created by SmiGueL.

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

According to FC, AM have been self-mining since mid-July. Also, as far as I can remember, the hash rate was never posted by AM for gen 1. But we were told that we'd get a hash meter this time round, so fuck know what's going on with that.

I think it's time us shareholders started asking about buying out bitfountain.

You are right, I think it may have been one of the shareholders that built an application and ran it from a website that we all made use of, good memory. I really hope this situation doesn't have to turn ugly, we only have 5 weeks to go before we are in the thick of things again. The way I see it, this show is over soon or everything is back to partying like it is 1999 (for a little while, this is the mining industry after all).

If AM cannot get Gen4 right there is no conjecture here, the company will be out of money and out of time. My point? We do not have much longer to wait, the chips will pass or they will fail, and if they fail the share price will take the stock down to worthlessness. I am going to sit tight and let the company prove its worth, my faith is eroded however there is no other direct investment opportunity in the mining industry, and this one has massive upside if they can execute.


The excruciating pain shareholders are feeling will be over soon, one way or the other.

There's too much competition for AM to relive it's glory days. Those days were only possible due to first mover advantage.

My problem is not with the design team, it's with the management, sales, support and PR. FC seems to just be hiring his friends who don't know what the hell they're doing. That's why I suggest looking into buying out BitFountain, so we could put some people in place who actually have a clue what they're doing.

Gen 4 could turn out to be 0.1 J/Gh but without a decent team in place would AM be able to capitalise on it?

On the other hand, with a good team in place, even though gen 3 under performed, those 60 Ph/s may have been sold as the gen 3 offerings have provided the best value to customers. They should have been selling like hotcakes. If some smooth-talking Yank was in charge of sales, they probably would have been. Instead we get a guy with poor English, who can't even access the forum and ignores emails.

[RoadStress]

It was posted for gen1 chips: http://www.asicminercharts.com/live/

That was an unofficial site created by SmiGueL.

And he was getting the information from the newspaper? There was some kind of official information about the hashrate because otherwise how could he create the site? I am sure he wasn't making up the hashrate posted there.

My problem is not with the design team, it's with the management, sales, support and PR. FC seems to just be hiring his friends who don't know what the hell they're doing. That's why I suggest looking into buying out BitFountain, so we could put some people in place who actually have a clue what they're doing.

I have stated in the past that FC found out a method to get money out of the company without paying the shareholders (hint: rockxie mining), but you bashed me back then. I am glad to see you coming back to earth.

[ujka]

It was posted for gen1 chips: http://www.asicminercharts.com/live/

That was an unofficial site created by SmiGueL.

And he was getting the information from the newspaper? There was some kind of official information about the hashrate because otherwise how could he create the site? I am sure he wasn't making up the hashrate posted there.

SmiGueL was only following the number of blocks found per day and new bitcoins received on AM mining address (1HtUGfbDcMzTeHWx2Dbgnhc6kYnj1Hp24i)

[Mabsark]

I have stated in the past that FC found out a method to get money out of the company without paying the shareholders (hint: rockxie mining), but you bashed me back then. I am glad to see you coming back to earth.

I "bashed" you back then for good reason. Talking complete bollocks. Which you are doing again. There's no evidence whatsoever to suggest that AM have been funnelling money out the back door. What I said was that their management, sales, support and PR are crap, not that AM is corrupt.

What you are claiming is that supplying a customer with the product you sell is corruption. The stupidity that comes out of your mouth is truly amazing.

[FUR11]

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

According to FC, AM have been self-mining since mid-July. Also, as far as I can remember, the hash rate was never posted by AM for gen 1. But we were told that we'd get a hash meter this time round, so fuck know what's going on with that.

I think it's time us shareholders started asking about buying out bitfountain.

You are right, I think it may have been one of the shareholders that built an application and ran it from a website that we all made use of, good memory. I really hope this situation doesn't have to turn ugly, we only have 5 weeks to go before we are in the thick of things again. The way I see it, this show is over soon or everything is back to partying like it is 1999 (for a little while, this is the mining industry after all).

If AM cannot get Gen4 right there is no conjecture here, the company will be out of money and out of time. My point? We do not have much longer to wait, the chips will pass or they will fail, and if they fail the share price will take the stock down to worthlessness. I am going to sit tight and let the company prove its worth, my faith is eroded however there is no other direct investment opportunity in the mining industry, and this one has massive upside if they can execute.


The excruciating pain shareholders are feeling will be over soon, one way or the other.

Yeah, I also believe that we really are working in a thin-margins business these days, but if they manage to run a decent operation, the upsides should justify a share-price of more than 0.1 BTC!
But friedcat, if you should read this: Please employ some people who are experts in customer-relations. Maybe also in the US or someplace other than China. Don't forget the international market. Also: Self-mine! Don't rely on selling the chips (again). Find even cheaper electricity now!

[chairforce1]

Ugh I see 2 pages in one day and think something happened, but it is just a struggle storm of anger. 

[kingcrimson]

If this is true then the next logical question is why is the hashrate not posted? I seem to remember the company telling shareholders that once self-mining is operational the hashrate would be posted up as previously in Gen1.

According to FC, AM have been self-mining since mid-July. Also, as far as I can remember, the hash rate was never posted by AM for gen 1. But we were told that we'd get a hash meter this time round, so fuck know what's going on with that.

I think it's time us shareholders started asking about buying out bitfountain.

You are right, I think it may have been one of the shareholders that built an application and ran it from a website that we all made use of, good memory. I really hope this situation doesn't have to turn ugly, we only have 5 weeks to go before we are in the thick of things again. The way I see it, this show is over soon or everything is back to partying like it is 1999 (for a little while, this is the mining industry after all).

If AM cannot get Gen4 right there is no conjecture here, the company will be out of money and out of time. My point? We do not have much longer to wait, the chips will pass or they will fail, and if they fail the share price will take the stock down to worthlessness. I am going to sit tight and let the company prove its worth, my faith is eroded however there is no other direct investment opportunity in the mining industry, and this one has massive upside if they can execute.


The excruciating pain shareholders are feeling will be over soon, one way or the other.

Yeah, I also believe that we really are working in a thin-margins business these days, but if they manage to run a decent operation, the upsides should justify a share-price of more than 0.1 BTC!
But friedcat, if you should read this: Please employ some people who are experts in customer-relations. Maybe also in the US or someplace other than China. Don't forget the international market. Also: Self-mine! Don't rely on selling the chips (again). Find even cheaper electricity now!

How did you come at this number, it is over 10 X the current price. I don't think it will ever happen.

[KarmaShark]

Yeah, I also believe that we really are working in a thin-margins business these days, but if they manage to run a decent operation, the upsides should justify a share-price of more than 0.1 BTC!
But friedcat, if you should read this: Please employ some people who are experts in customer-relations. Maybe also in the US or someplace other than China. Don't forget the international market. Also: Self-mine! Don't rely on selling the chips (again). Find even cheaper electricity now!

How did you come at this number, it is over 10 X the current price. I don't think it will ever happen.

If you are referring to FUR11's comment then I think 0.1BTC/share is a given as it was trading at that level two days ago and has been for over a month now. You may have read that as 1BTC/share, which would indeed be over 10x the last traded AM1 share. Should Gen4 do well I believe we could see that level and higher depending on how much income is coming in and what else the company has accomplished (DataTank, new partnerships, Gen5 plans, etc).

The share price was sitting at 0.5BTC/share in anticipation of Gen3 dividends this spring. I would not be surprised to see a nice run-up in share price come mid-late December upon confirmation of successful Gen4 chip testing. If the market believes Gen4 will be successful, holding shares will be a hot commodity once more. I also believe that the market will except a lower dividend / APR as there are few legitimate options out there for investment in the Bitcoin securities world right now.


 

[iCEBREAKER]

{constant antagonizing of the sittuation}

have the chocolate teapot award, you deserve it.

I dunno what the "chocolate teapot award" is, but it sounds filthy and I'm sure RoadStress deserves it.

The only problem is that he probably enjoys chocolate teapots...   

/afraid to google

[Fordee]

{constant antagonizing of the sittuation}

have the chocolate teapot award, you deserve it.

I dunno what the "chocolate teapot award" is, but it sounds filthy and I'm sure RoadStress deserves it.

The only problem is that he probably enjoys chocolate teapots...   

/afraid to google

It's safe to Google '         But apparently, now a chocolate teapot is actually MORE useful than RoadStress...   

http://treasurytoday.com/2014/09/as-useful-as-a-chocolate-teapot-ttmc

[elasticband]

I remembered that and now I want to stick it into all shareholders face because it was a stupid argument.
the profits they earned from the capital they raised from IPO and have already paid shareholders 6x what they invested.  That's the difference.

[/quote]


Just quote this when road stress turns up, it really shows his maturity and age. personally i do not trust this prepubescent rodent and his behavior.

[RoadStress]

It was posted for gen1 chips: http://www.asicminercharts.com/live/

That was an unofficial site created by SmiGueL.

And he was getting the information from the newspaper? There was some kind of official information about the hashrate because otherwise how could he create the site? I am sure he wasn't making up the hashrate posted there.

SmiGueL was only following the number of blocks found per day and new bitcoins received on AM mining address (1HtUGfbDcMzTeHWx2Dbgnhc6kYnj1Hp24i)

So that means that AM published their mining address. So there was some kind of official info. SmiGueL didn't came up with the information out of thin air. There is no official mining address right now. Nobody knows in what address is AM mining right now.

I have stated in the past that FC found out a method to get money out of the company without paying the shareholders (hint: rockxie mining), but you bashed me back then. I am glad to see you coming back to earth.

I "bashed" you back then for good reason. Talking complete bollocks. Which you are doing again. There's no evidence whatsoever to suggest that AM have been funnelling money out the back door. What I said was that their management, sales, support and PR are crap, not that AM is corrupt.

What you are claiming is that supplying a customer with the product you sell is corruption. The stupidity that comes out of your mouth is truly amazing.

You got it wrong as always. I never stated that AM are funneling money of of the back door. They found a way to funnel money in plain sight. Let me put it another way:

AM sold chips to Rockxie who assembled miners and sold them. The profit from the miners went to Rockxie, not to AM. AM only got money for the chips. But AM could skip Rockxie and create their own miners and this way they could take profits from both chips and full miners. AM was able to create and distribute full miners in the past and I don't understand why now they had to use Rockxie. The profit made by Rockxie stayed with Rockxie, not with AM. Of course AM made a small profit with the chips, but I think that profit is smaller than the profit from the full miners. By creating their own miners AM could cash in more profit in my view. Please correct me if I am wrong here.

[elasticband]

they sold batches of chips before getting newer batches with a different mask if i remember correctly, something to do with better efficiency? which i would presume what we are seeing with the  prisma.

[RoadStress]

they sold batches of chips before getting newer batches with a different mask if i remember correctly, something to do with better efficiency? which i would presume what we are seeing with the  prisma.

Why sell the chips when you can build miners?