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Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1229. (Read 3917029 times)

sr. member
Activity: 322
Merit: 252
well, friedcat was talking about increased hashrate in one of his previous posts... also the other 50 thash/s should be coming in next weeks

He estimated it (60 TH/s, not 50) at the end of April, not March Tongue

The rest of the 12TH/s part will probably be added to user 67117 or bitfountain1/2/3
(IF that part is ever going to be added, since we're almost 2 weeks on a pretty steady 6TH/s..)
hero member
Activity: 752
Merit: 500
bitcoin hodler
Do we smell a whiff of fried cat again?  Grin

Is the recent increase in hashing power you? Would you mind a little pre-thursday update?

well, friedcat was talking about increased hashrate in one of his previous posts... also the other 50 thash/s should be coming in next weeks
full member
Activity: 177
Merit: 100
Do we smell a whiff of fried cat again?  Grin

Is the recent increase in hashing power you? Would you mind a little pre-thursday update?
donator
Activity: 994
Merit: 1000
Thanks for the update friedcat, as usual, the good news just keep coming in.
Let me address some of your comments, since they deserve an answer.

The PCB production of the main board and the power module has started. For safety the second batch has no changes with respect to the PCB design. ... The deploying of the first batch had met more stagnation since the rewiring for increasing of power capacity of the new place has still been going on since the last week.
From the first day on you've followed a very prudent path to pursue this technology. Not only have you shown proficiency with developing ASIC based bitcoin mining, but also with how to operate it. As a matter of fact I am delighted to see how smooth the deployment went, which gives me confidence that you are on top of things. I am not surprised to see that the community is lining up to become equity holders in your enterprise.

I am looking forward to hear what your post 60 TH plans for the company are (apart from a technological progression). You shouldn't have problems raising new capital after this.

We contribute to the network security as all other miners do. ... ASIC manufactures sell devices to miners. We are both an ASIC manufacture and a miner. Does this make us less useful and more evil than both?
Bitcoin only works if there is a balance of power. As an ASIC supplier you have the moral responsibility to maintain that. This includes yourself as a company - which means you have to prevent yourself from becoming too powerful. I know that sounds odd, but unless you can hit a self-destruct button, you have to account for hostile take overs in your business. You'll see what I mean when you're approached by the first economic hitmen. One way to prevent the accumulation of power is to delegate that power to customers who are willing to compensate for the projected earnings of the corresponding hashing power. However, there are several strategies to accommodate the situation and ideally they should be explored in a revised business plan.

We expect a long-lasting, sharp and harsh difficulty rising therefore this will not likely to be a concern. If it becomes very fortunate for us that the difficulty climbs up slow, selling the devices at that moment at a low price as the current market price is not wise and too early. Refraining the hashpower for several days or weeks may be a better choice.
The current situation is very unpredictable and unstable, which is why I'd give you the benefit of the doubt with your assessment. However, it is the nature of bitcoin that the exact distribution of hashing power cannot be traced to particular entities. Thus, when you say that you "retain" hashing power, people have to take your word for it. In effect this is no different than a promise to not tamper with the blockchain in any malicious way. Given that I understand posts like SebastianJu (https://bitcointalksearch.org/topic/m.1605777), where he favors a stealth approach to mining. It is not my place to recommend what the correct procedure for this event may be, but I'd like to provide a fitting quote, which you should apply in such a case: "With great power comes great responsibility".

legendary
Activity: 2674
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Legendary Escrow Service - Tip Jar in Profile
You can also use the passthru at bitfunder.com, or btct.co

But he wants to sell his shares. So that wouldnt be a possibility. And it looks like the passthroughs, that arent real asicminer shares, are even more expensive now than the real shares. At least the last trades suggest this.

You can sell your shares via either of the passthru funds, or both.

The steps needed to be taken are clearly laid out in the two relevant threads.

Once you have the shares transferred into the passthru, you then sell the passthru asset for BTC.  Smiley

Ok, didnt know that. I only heard that one can buy the real asicminer shares from deadterra if he has a certain amount of asicminer PT shares.
full member
Activity: 237
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You can also use the passthru at bitfunder.com, or btct.co

But he wants to sell his shares. So that wouldnt be a possibility. And it looks like the passthroughs, that arent real asicminer shares, are even more expensive now than the real shares. At least the last trades suggest this.

You can sell your shares via either of the passthru funds, or both.

The steps needed to be taken are clearly laid out in the two relevant threads.

Once you have the shares transferred into the passthru, you then sell the passthru asset for BTC.  Smiley
legendary
Activity: 2674
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You can also use the passthru at bitfunder.com, or btct.co

But he wants to sell his shares. So that wouldnt be a possibility. And it looks like the passthroughs, that arent real asicminer shares, are even more expensive now than the real shares. At least the last trades suggest this.
hero member
Activity: 518
Merit: 500
You can also use the passthru at bitfunder.com, or btct.co
legendary
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When the exchange will be ready, or is it already and i didnt notice?
I want to trade some of my shares, anyone know how can i do that?

If you want to trade now you can use this thread: https://bitcointalk.org/index.php?topic=148282.new;topicseen#new
full member
Activity: 163
Merit: 100
When the exchange will be ready, or is it already and i didnt notice?
I want to trade some of my shares, anyone know how can i do that?


Thanks.


Right now you can only sell them OTC. No word on the trading platform, other than the fact that it isn't a top priority. Depending on your price, I may buy them from you.
member
Activity: 89
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When the exchange will be ready, or is it already and i didnt notice?
I want to trade some of my shares, anyone know how can i do that?


Thanks.
sr. member
Activity: 322
Merit: 252
10 TH/s jump in 2 days  Shocked

there is almost 3 Thash/s miner at Ozcoin, I'm thinking it's ASICMINER

'That' Anonymous miner was @ ~5.4 TH/s a few days ago..
(And 3 TH/s the last week(s))
Friedcat told us last week that that ISN'T ASICMINER.
hero member
Activity: 752
Merit: 500
bitcoin hodler
10 TH/s jump in 2 days  Shocked

there is almost 3 Thash/s miner at Ozcoin, I'm thinking it's ASICMINER
hero member
Activity: 816
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10 TH/s jump in 2 days  Shocked
legendary
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A small warning... while i thought i can buy for 0.6 (at least some people here think its highly overvalued Smiley, and no im not thinking so like my posts state) i ended up to buy at 0.72 now. And even though there is a unified orderbook thread for asicminer shares here in the forum there are Passthroughs too at real exchanges. And even though you dont own the actual asicminer shares there the prices are at 0.8BTC now there. And are traded this way. It looks to me that a real trading platform leads to higher prices for some reason. So if you plan to buy more shares i would think about this now, before friedcat opens the exchange. I can be wrong but it doesnt look like the shareprice will drop soon again.
See the "trade history" of this passthrough here: https://bitfunder.com/asset/G.ASICMINER-PT or even here: https://btct.co/security/ASICMINER-PT 0.9BTC there...

Maybe im wrong with rising prices on a fast real exchange. Its only an subjective observation.

You're not wrong.  Liquidity adds to the value of shares (provided there's no ceiling in place).  Being able to sell/trade them makes them worth more - you still have all the benefits you had when they were impossible/hard to trade and now also have the ability to sell them if you need/want to.  That increases demand - as people who wouldn't buy them if they were hard/difficult to sell (if necessary) now can/will.

I thought it will be somehow this way. Thats probably why the Passthroughs for asicminer are traded even higher than the real shares at the orderbook thread: https://bitcointalk.org/index.php?topic=148282.new;topicseen#new Only because there is a real exchange in place. So for those that want to buy shares its still better that Bitfountain didnt release the exchange yet.

I am wondering, if I purchase shares here on the forum, how do I hold the shares?  I mean what sort of record is there for who is holding shares?  I am using BTC to purchase pass-through, but what if I purchase here on the forum?
Thanks.

You go to the thread and claim your price. If someone goes in on it you search an escrow from here https://bitcointalksearch.org/topic/m.1180916
Then you will get a contract and a bitcoin address from the escrow. If you sent the money to the escrow the buyer will be informed and he will inform friedcat. Friedcat then puts the shares to your account. He needs an email, your bitcoin address for dividends and your forum name. He then informs you about the shares bound to your account and you can tell the escrow to release the btc.
I used john (the one with the puppy, its in the list too) and it went fine. If all is done you can give him a reward, because he does the escrow for free.
So friedcat is the one who tells you that you now own shares. Make sure its the real one and no scammer that created a new, duplicated account.
hero member
Activity: 697
Merit: 501
I am wondering, if I purchase shares here on the forum, how do I hold the shares?  I mean what sort of record is there for who is holding shares?  I am using BTC to purchase pass-through, but what if I purchase here on the forum?
Thanks.
hero member
Activity: 532
Merit: 500
A small warning... while i thought i can buy for 0.6 (at least some people here think its highly overvalued Smiley, and no im not thinking so like my posts state) i ended up to buy at 0.72 now. And even though there is a unified orderbook thread for asicminer shares here in the forum there are Passthroughs too at real exchanges. And even though you dont own the actual asicminer shares there the prices are at 0.8BTC now there. And are traded this way. It looks to me that a real trading platform leads to higher prices for some reason. So if you plan to buy more shares i would think about this now, before friedcat opens the exchange. I can be wrong but it doesnt look like the shareprice will drop soon again.
See the "trade history" of this passthrough here: https://bitfunder.com/asset/G.ASICMINER-PT or even here: https://btct.co/security/ASICMINER-PT 0.9BTC there...

Maybe im wrong with rising prices on a fast real exchange. Its only an subjective observation.

You're not wrong.  Liquidity adds to the value of shares (provided there's no ceiling in place).  Being able to sell/trade them makes them worth more - you still have all the benefits you had when they were impossible/hard to trade and now also have the ability to sell them if you need/want to.  That increases demand - as people who wouldn't buy them if they were hard/difficult to sell (if necessary) now can/will.
legendary
Activity: 2674
Merit: 1083
Legendary Escrow Service - Tip Jar in Profile
Yes. We expect late April to be fully online, but that would require we successfully get enough right employees and there's nothing unexpected during the production process.

We expect a long-lasting, sharp and harsh difficulty rising therefore this will not likely to be a concern. If it becomes very fortunate for us that the difficulty climbs up slow, selling the devices at that moment at a low price as the current market price is not wise and too early. Refraining the hashpower for several days or weeks may be a better choice.

I wish you luck in finding good and trustworthy employees.

Regarding the selling... i see it the same and thought about refraining too. Alternatively one could calculate if a price of 12 months mining income or so would be paid. Thats probably not a bad business then.

@beekeeper... it would have been way better if you hadnt come accusing Asicminer but instead asking for donations. This topic was completely unknown in this thread. At least i read the first time about it yesterday. And im sure some people will donate something. I will do this too, unfortunately the height of loss is way out of my league so i only will be a small help.
full member
Activity: 177
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We expect a long-lasting, sharp and harsh difficulty rising therefore this will not likely to be a concern. If it becomes very fortunate for us that the difficulty climbs up slow, selling the devices at that moment at a low price as the current market price is not wise and too early. Refraining the hashpower for several days or weeks may be a better choice.

I trust your judgement on that. But please re-evaluate the situation frequently. It might be wise to still grab some marketshare of pre-orders from bfl...
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