Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1235. (Read 3917543 times)

A fork means there was a second blockchain created out of a bug in the new bitcoinclient. Im not sure if bitfountain is still mining on those 2 pools only but if these pools switched to the new bad software then the blocks created are rubbish. No earning. The software should be switched to the previous version so that the old blockchain can win.
I think the worst that can happen is that bitfountain lost the work of some hours.

I'm just going off some math and what Friedcat posted.
3860.41091438 / 0.02354454 = 163k (sorry, not 150k)

Even if they can keep up 15% of the network short term (maybe 4300 BTC/week given increased production due to increasing hash rate?) that would be a weekly dividend of a little under 0.011BTC/share.

Perhaps this might not be the place for it but how does the "fork" affect ASICMiner? Or doesn't even do anything? Or am I just riffing and don't know what I'm talking about?

Hm... "Critical: Current Bitcoin network fork. Action needed by mining pools. Merchants should hold transactions." https://bitcointalksearch.org/topic/alert-chain-fork-caused-by-pre-08-clients-dealing-badly-with-large-blocks-152030
I hope bitfountain doesnt lose much hashingwork by this...


I know that they half after ipo-price is met. I think i wrote this too. And no, it looks another way at the moment, not only 10%. I think friedcat guessed that the competition will be way more lively, but it isnt. But of course its everyones own decision to set the price he wants to sell for. At these rates i wont take part as a seller at least.

I don't think that is the case.

There are 200k shares in the ASICMiner, 'preferred', pool.

Just because they weren't sold doesn't mean they don't exist.

AFAIK, BitFountain owns those unsold ASICMiner shares - I think around 30k. As well as their own 200k.

Right now Asicminer is about 15% of the network, while they might temporarily exceed that even Friedcat is only talking about averaging 10% over the year. Also keep in mind they're only paying out 150k shares until 0.1 is paid. After that dividends will be paid to all 400k shares.

0.6/share is overvalued IMO, let alone an insane number like 2.2.

Yes, thats right... im not the mathematician so i only made a simplified calculation to show the direction.

I think you'll find that if they added another 56 TH then network hashpower would also rise by 56 TH.  No way they'd be able to do that for a month without difficulty rising.  Having 10 times the hashpower suddenly only gives 10 times the income until next difficulty adjustment.

Wow, imagine if they could bring 248TH/s online, they could be making almost $42M a month! Incredible.

Your calculations are correct. But what makes ASICMINER worthy is not its assets (equipment), it is its future gains (mining revenues).

One share is currently worth 15 Mhash/s (only 6 Th/s are deployed). It will soon be worth 30 Mhash/s (as soon as they finish deploying the first batch of 12 Th/s). And it will later be worth 125 Mhash/s (when they reach 50 Th/s total). At these hashrates, one share would respectively mine about 0.05, 0.1, and 0.45 BTC per month at current difficulty.

Therefore, if as an investor, you must compare the share price (ca. 0.6 BTC) to these short term revenues to estimate whether it is likely or not that you will recoup your investment.

Personally, if ASICMINER had 50 Th/s deployed today, I would be very confident that a share is worth at least 0.6 BTC. But given that they are extremely slow to deploy even the initial 12 Th/s, and the uncertain timeframe as to when 50 Th/s will be up and running, I consider 0.6 BTC/share to be overpriced, therefore a risky investment. But that is just my opinion. I tend to be conservative. Other investors might think differently.

I see ASICMINER back on top at Ozcoin - does anyone know what happened to that 2.7TH Anonymous from ozcoin?

But that isnt needed. The asics are mining already even without minersoftware-developers having a prototype. So one could think about giving small free samples away once the asics are sold, so that more minersoftware could work, but now it wouldnt be wise. And i wonder if even that is needed when the actual miner works without problems anyway.


I only say that bitcoin foundation is a center organisation that should have the stability of bitcoin in mind. So if there is a way to secure the pools, so that no attack could be done with their hashingpower then the bitcoin foundation should pressure in this direction. I mean it would be easy to claim that there are "unsafe" pools that should change something and the pools would follow when miners and bitcoinusers start to demand it.
It would be for the sake of securing bitcoins isnt it?


Your way off with the worth of asics. First... in some days we will have 62TH/s, not only 6. Then... avalon is quite stupid, because they sell their units for a price they would get in half a week, if they would let mine these units for themselves. So at least one should take the mining income of 8 months as the price for the asics.

That would be for 6TH: $1,011,202.39 per month and selling these 6TH would cost at least $8.089619,12 (when taking the mining revenue of 8 months only into account)
and for 62TH: $10,449,091.37 per month and selling these 62TH would cost at least $83.592.730,96 (when taking the mining revenue of 8 months only into account)
See: http://www.alloscomp.com/bitcoin/calculator

Of course there will be changes because of competition, difficulty and more asics will be bought on top later when seeing a months timeframe.

But i think the worth of bitfountain is way higher than you calculated.

You need to read the thread - especially the earlier part of it.  Sales are a possibility, maybe even a likelihood.  So is producing loads more ASICs for self-mining.  So it producing next-gen ASICs.

May I ask you to write a little bit more about this issue?

Is the ASICMINER going to sell some produced ASICs and share the income between its shareholders? Or why is the value so high?

You're trying to value ASICMINER based on the 6 TH currently mining.  Remember there's another 6TH or so nearly ready and chips for 50 TH more already starting assembly into finished units.  Plus, the main value, which is the ability to produce loads more very cheaply.

If you think of ASICMINER as just a mining company then obviously it's WAY over-priced.  But it's not just a mining company.

There are 400 000 shares of ASICMINER...
Each worth ca 0.60 BTC...
400000*0.6 = 240 000 BTC
which is (today at 48usd/btc rate) = 240000*48 = 11 520 000 USD

Am I correct here?

My question is:
How much is the equipment owned by ASICMINER worth?


We could compare it to Avalon's 65Gh/s @ 1499USD
6000Gh/65gh = ASICMINER has power of 92,31 Avalons which is = 92,31 * 1499 = 138 372 USD.


Am I wrong?

So you are saying friedcat lied to us about the anonymous miner?

They're also mining on Ozco.in with about 2.2 TH/s

I've created a graph (semi-real-time-updating) with the total hash speed.

Click on it for a more detailed version.

Well, I don't have the list of sample board recipients, but I'm pretty sure this is the same list providing boards for development to at least myself (for BFGMiner support), Kano (for cgminer "support"), and Diablo-D3 (for DiabloMiner support?).
Providing hardware to the people responsible for supporting it in software is generally considered standard practice in the industry.
From the shareholder perspective, there is value in having these device supported for the day when they finally begin shipping.

Where did you see 6 TH?  BTCGuild still has it listed at around 3.8 TH for the past couple of days.  Given the significant hashing power coming on, I think ASICMINER going solo + merge mining with NMC; switching to pool with lower fees.  Or even better, create its own pool and mine there, then collect a fee off of others' hashing power.  This seems to be a relatively easy way of enhancing shareholders' value.