Post
Topic
Board Securities
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
by
freedomno1
on 04/06/2013, 20:34:42 UTC
What is it with bitcoiners not seeing the value in professional communications & marketing? Other than better math skills, this is probably the most deficient aspect of bitcoin business.

Thanks, this is exactly my point.

Think Friedcat said something along the lines that these type of things are less important than working on building a better product for the shareholders.
And let the shareholders decide what to do with their bitcoins when it came to saving them. Since they have the funding they need for their projects (Around the time of the large dividend when friedcat made his reply regarding AM growth)
That said they have enough to run the company so a marketing arm would be nice
Till then just the Facebook Fan page lol

Update

The mass production of Block Erupter USB is to be done today. Busy testing and packaging will start.

About the argument of dividend payments, our view is that we will distribute the net income after necessary costs are excluded and funds for foreseeable future (expansion, gen-2 chips) are reserved. Bitcoin is already an investment itself having a great potential. Any investment, no matter how profitable, based on "turning Bitcoins to fiat first" requires double consideration. We can invest the RMBs to bonds and they are almost bound to be more profitable than just holding the RMBs, but we can never say the same to Bitcoins.

So we feel that it is most responsible to let the shareholders decide how to do with the abundant Bitcoins. We will of course find other investments (which are focused on helping the Bitcoin economy therefore benefit all Bitcoin holders), but they are all involved in different risk and return model than a mining/mining hardware company. The shareholders of ASICMINER are in principle not supposed to bear the new different risks on doing other business than Bitfountain's. So if there are new investments, they will be as new adventures, in new collaboration structures, and after a significant period of time since ASICMINER is always the most important job for us to do before the company could gradually run itself with a little less founder involvement.