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Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
So question should have been:
"Which Bitfountain does ASICMINER belong to, as there is more than one?"
"Which Bitfountain does ASICMINER belong to, as there is more than one?"
who filed the patent on these usb devices?..what Bitfountain link is everyone talking about here?..thanks
You are officially my first ignored user. Congrats!
Mine too!
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
Also hosts MtGox.
That's quite funny, but as an investor, it would be nice to have some transparency.
It is a catch-22; we want transparency as investors, but any pictures of the actual data center also compromise security.
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
what if you live dividend to dividend and a delay in confirmations means no funds for rent.
I suggest living Friday to Friday then, and diversifying a bit. Surely, no one lives week to week on the dividends, unless they are beyond messed up...
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
I absolutely love this company. I am lucky to have bought in at IPO prices, but it actually still makes sense to buy at the PT prices now; I am not selling though, no way...
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
nice. is that dividend projection accurate? looks it. i'm just surprised. .014 next week predicted, and it's saturday.
It was close last week (within 3%, though there was a systematic error in the calculation that has now been fixed). The ramping up of the hash rate is having an affect on mining earnings.
We'll have to wait and see what Friedcat decides to do with the equipment sales.
I have been grappling with a model to work out what fair value is for the shares, but it's still kicking around in my head. One interesting thing about valuing securities in BTC is that there's no discounting of future earnings due to inflation back to today to worry about. But you still need some uncertainty factor in the value of future earnings. There's still so many imponderables that I haven't got much further with it, and it's not my field of expertise anyway.
Something close to 0.02 per share next week is certainly possible with the recent hardware sales.
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
Please stop being worried about an single entity having 50%+ of the network,
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
Someone could have 90% hashrate and as long as he doesn't mess with the chain rules you've nothing to worry about.
That statement is not even remotely accurate.
The market does observe, and is sensitive to, what entity controls what % of hashrate.
All it takes is perception. The fact that such an entity is virtuous is of no matter; we need to keep any one miner well below the threshold that an average, ignorant as they may be, observer deems as an acceptable % of the network hash in total.
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
Update
A lot of great thing happened last week. We wiped over the obstacles (infrastructure and paperwork) on deploying and put a lot of our available hashrate online. We also did a significant improvement (power, design, appearance) on the USB stick from the sample batch to the production batch.
For the discussion in the last few days, what we... I could say, is only that our IC design team had achieved fantastic results, as everyone could see and compare, with the most limited funds (barely more than 100k$ raised last August) and most inferior mask-set of choice (130nm which belongs to the antiquity era), and I'm proud of it.
A lot of great thing happened last week. We wiped over the obstacles (infrastructure and paperwork) on deploying and put a lot of our available hashrate online. We also did a significant improvement (power, design, appearance) on the USB stick from the sample batch to the production batch.
For the discussion in the last few days, what we... I could say, is only that our IC design team had achieved fantastic results, as everyone could see and compare, with the most limited funds (barely more than 100k$ raised last August) and most inferior mask-set of choice (130nm which belongs to the antiquity era), and I'm proud of it.
Excellent!
What does the future hold for us? Will AM invest in a next-gen chip using 28nm or 32nm? I have a vague idea that chips with a smaller nm mask set are more efficient in terms of power requirements, but I don't really understand what sort of economic forces would make a next-gen chip based on 28nm or 32nm (or others, smaller than the current fab using 130nm) desirable. So, anyone that knows more about this, please chime in!
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
Hmm, what are we doing with the namecoins we are getting from Bitminter? We must have quite a few by now...
Just give them away. I have a namecoin address somewhere..
Would it work to have shareholders provide friedcat with a namecoin address, and they be paid out proportionally to those that want them? It might be an unwelcome pain for friedcat though, hopefully the current distribution of bitcoin dividends is streamlined and automated, and adding the namecoin to the process is not too much of a headache...
I love all the posts from people acknowledging the ridiculous price, then immediately saying "put me down for 10!!!!"
I know, right?I wouldn't mind buying a piece of history.
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
I think it could be very beneficial for the USB miners. Just ship to a few central shipping facilities in large amounts and then sell individual units at retail prices to the public.
At first blush it sounds interesting, but I hate to be at the mercy of Amazon when it comes to any future pressure from outside entities that the product is illegal,no matter how ridiculous such a claim might be. Hopefully the group buy system with prove efficient enough, but the day AM has the problem of needing a larger retail solution will be a very good day indeed...
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
Let's keep focused on the big picture here. At the scale AM operates this is a waste of time.
-helixone
-helixone
couldn't have put it any better. If they don't all sell, the price will drop. If they all sell (and, I have a hunch that they will,) then the price was, in fact, right. It's not worth friedcat's time to worry about individually shipping these things out, or about making sure he hits the market pricing exactly right at all times. Bulk orders will move money, and that's all that matters at this point.
I thought the question was about the potential for mining altcoins like NMC. I am confused by this reply, as it seems to be in regard to something else.
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
Another 1.5T online, temporarily allocated on bitminter. Will switch to solo later on.
Also, what about the NMC proceeds? Will those be changed to btcs on, let's say, btc-e?
Good question. If AM is mining in a pool that multi-mines other alt-coins, or solo mines, we may as well take advantage of that. If they get paid out to shareholders, then each shareholder would need to give friedcat a payout address for the other coins though, and that might be an unwelcome headache for him.
However,if AM does get the alt-coins though, and does convert them to BTC, it would be nice to get the official reply about that...
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
ASICMiner moves at the speed of light compared to other equities. I have been left a bit wanting for more though, with the weekly announcements. I appreciate the hard work that Friedcat and his team have performed, but I do think we deserve more information than the updates give us. We get three lines of thought per week lately. I certainly hope that board members are getting more information than us mere shareholders are getting, and that intelligent planning is taking place based upon those discussions.
dude, chill... Who cares about long lines of information, when the important thing is that ASICMINER delivers. What friedcat says, he does. Who cares about how many words he uses in an update? Important information is that:
- we have hashrate of 12 Thashs/s and rising
- very successful sales of blades and development of USB miners
what more do you want? Other companies (BFL) keep on babbling and they can't deliver. ASICMINER doesnt care about product names, websites, logos and all this useless crap. This company is efficient and delivers what it promises. That's what's important.
I consider myself to be chill. It isn't so much what more do I want, it is that we need a better channel to sell the super-USBees, etc. We have scratched the market, certainly; but -- better infrastructure for sales is required, imo. Kudos for the accomplishments thus far.
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
Hm... Was I the only one who expected over 0.012 per share? I know friedcat said he held back ฿2K to pay for future growth, but isn't that virtually all of the auction proceeds?
It would be nice to know it beforehand. At least we noch would have 60% more dividend. High cost of course but at the end it will lead to even higher dividends for shareholders.A reminder, this is not a mining bond, it's an equity in a profit-oriented business, which just happens to generate profit from mining with their proprietary hardware.
I don't think any company can pull off predictable and accurate weekly business plan and accounts. If we need conventional predictability, we'd better switch to conventional annual cycles. That would also help with "variance".
ASICMiner moves at the speed of light compared to other equities. I have been left a bit wanting for more though, with the weekly announcements. I appreciate the hard work that Friedcat and his team have performed, but I do think we deserve more information than the updates give us. We get three lines of thought per week lately. I certainly hope that board members are getting more information than us mere shareholders are getting, and that intelligent planning is taking place based upon those discussions.
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
What AsicMiner need is a better public image, a website.
And a forum while at it, This bloated thread is not cutting it.
I have no idea where we are on that front but that should be a priority if you intent on selling products to end-users.
And a forum while at it, This bloated thread is not cutting it.
I have no idea where we are on that front but that should be a priority if you intent on selling products to end-users.
I agree with this sentiment, at least in the long-term. The product, in six months' time, if it is to compete with BFL, will need to be more user-friendly, and sold to the masses, not just here in auctions. A web presence seems like a logical first step.
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
2,000 Bitcoins have been reserved for the re-investment:
1. Deposits for the long-term pre-order of hard-to-get ICs.
2. Costs of mass production of Block Erupter USB sticks.
The projected rising to 15TH/s by tomorrow night is still on track.1. Deposits for the long-term pre-order of hard-to-get ICs.
2. Costs of mass production of Block Erupter USB sticks.
The samples of the USB sticks are being tested.
That is approximately the amount of $USD as the IPO raised? So, this appears to be a substantial re-investment in the company. Dunno what those ICs might be, but let me know, and I will look under my bed to see if I have a few laying around!
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
The usb sticks are going to be a huge success, but we desperately need something better than bidding in the auction forum here to sell them; the last couple minutes of the last auction were a bit crazy, and many bidders got blocked out with the last second frenzy by the anti-spam settings for the forum.
Problem is, how to set this all up on a solid auction forum? We can at least have some vetting on the bidders to some extent when they take place on this forum, but as the volume of the auctions ramps up, I fear this will become an unmanageable mess.
Problem is, how to set this all up on a solid auction forum? We can at least have some vetting on the bidders to some extent when they take place on this forum, but as the volume of the auctions ramps up, I fear this will become an unmanageable mess.