Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1285. (Read 3917029 times)
January 16, 2013, 03:47:09 AM
Update would be nice.
January 15, 2013, 06:51:34 PM
At this moment:
January 14, 2013, 08:07:13 PM
got my 170-odd shares secured.
what now?
am i rich?
sell for 1 each?
what now?
am i rich?
sell for 1 each?
Nobody is buying for 1 each
DAMN.
Give it a couple weeks
January 14, 2013, 08:50:08 AM
got my 170-odd shares secured.
what now?
am i rich?
sell for 1 each?
what now?
am i rich?
sell for 1 each?
Nobody is buying for 1 each
DAMN.
January 14, 2013, 08:39:23 AM
got my 170-odd shares secured.
what now?
am i rich?
sell for 1 each?
what now?
am i rich?
sell for 1 each?
Nobody is buying for 1 each
January 14, 2013, 08:23:22 AM
got my 170-odd shares secured.
what now?
am i rich?
sell for 1 each?
what now?
am i rich?
sell for 1 each?
January 13, 2013, 10:23:23 PM
GOOD NEWS!!!
BFL won't start shipping before Feb 10th https://forums.butterflylabs.com/announcements/692-bfl-asic-status.html
So we have a couple more weeks to mine at lower difficulty
BFL won't start shipping before Feb 10th https://forums.butterflylabs.com/announcements/692-bfl-asic-status.html
So we have a couple more weeks to mine at lower difficulty
However, Avalon ASIC has announced that they're shipping their first batch by the end of the week (about 20 TeraHash worth, if I remember correctly). They haven't posted pictures or videos of any prototypes, but I haven't seen any reason to doubt they're a trustworthy company either. It'll be a close race to see who's first, that's for sure!
January 13, 2013, 09:12:54 PM
GOOD NEWS!!!
BFL won't start shipping before Feb 10th https://forums.butterflylabs.com/announcements/692-bfl-asic-status.html
So we have a couple more weeks to mine at lower difficulty
BFL won't start shipping before Feb 10th https://forums.butterflylabs.com/announcements/692-bfl-asic-status.html
So we have a couple more weeks to mine at lower difficulty
January 13, 2013, 05:27:11 PM
Do I have to do something special to receive such an e-mail... I've send a claim email long time ago and AFAIK GLBSE sent shareholders info too....
I suggest waiting a few more days, obviously they are still processing claims and sending out confirmations every day. Busy with engineering, too. 
January 13, 2013, 05:05:11 PM
Do I have to do something special to receive such an e-mail... I've send a claim email long time ago and AFAIK GLBSE sent shareholders info too....
January 13, 2013, 12:06:00 PM
Thank you for the email. Now I can emotionally move on from GLBSE issue.
January 11, 2013, 05:39:00 PM
Have any details been released about ASICMINER shares being re-listed on one of the exchanges?
If anyone is selling shares, please contact me.
If anyone is selling shares, please contact me.
January 11, 2013, 09:31:39 AM
I have received a confirmation email with the correct addy and the number of shares. Thank you, friedcat, for cleaning up the GLBSE mess.
January 10, 2013, 08:04:41 PM
Update
...
Thank you, friedcat....
Information from you is always very much appreciated.
January 10, 2013, 03:32:23 AM
This information must be buried somewhere around pages 13-15, but I cannot find it: what is the number of outstanding shares (sold in IPO, including the "extras")? EDIT: see answer below.
Also, a clarification is needed: after investors have received their 0.1 btc per share, further profits will be distributed as (assuming X was the number of shares sold to the investors) -
(1) 1/400`000 per share, regardless of X, or
(2) 1/(200`000+X) per share, or
(3) 1/(2X) per share
EDIT: relevant quotes -
Thanks for the interpretation. I suspect these things get cleared up when friedcat prepares his first report and/or releases the business plan to board members. My current understanding diverges a bit from yours, mainly because I see 200k shares issued on GLBSE for ASICMINER. Thus, in your language, the shares already got sold from BITFOUNTAIN to ASICMINER beginning of August at a price of 0. All 200k shares are in the possession of ASICMINER. Those shares which haven't been sold through the IPO to the shareholders should still be in the account for ASICMINER.
The IPO is officially closed. However, if you seriously consider becoming a board member by going through the bulk purchase option, please contact friedcat. There is still a pile of shares which didn't get sold. However, using those may require the approval of the existing board members, since it effectively dilutes the existing shares. (currently a share is worth more than 1/200,000, because not all shares were sold).
ADDENDUM: the current traded quantity can be observed through: https://glbse.com/api/quantity_trading/ASICMINER
(which is 154262 at the time of writing)
Also, a clarification is needed: after investors have received their 0.1 btc per share, further profits will be distributed as (assuming X was the number of shares sold to the investors) -
(1) 1/400`000 per share, regardless of X, or
(2) 1/(200`000+X) per share, or
(3) 1/(2X) per share
EDIT: relevant quotes -
@Jutarul
Within my understanding, the way friedcat raise capital for the bitfountain is a little different than traditional. The total number of shares of the bitfountain is 400k, and no matter how many ASIC shares we purchase through the IPO, the number of bitfountain shares outstanding will not be impacted. Things happen in this way:
1. Bitfountain has 400k shares issued, which all belongs to the 3 partners.
2. An SPV set up named ASICMINER. the total number of shares outstanding is not decided.
3. Whenever ASICMINER issue 1 share, the 3 partners will sell 1 share of bitfountain to the ASICMINER at the price of 0.
4. ASICMINER will be responsible for the R&D cost of the bitfountain. if the money ASICMINER raised through its IPO is more than bitfountain need, there will be a special big dividend.
5. ASICMINER's share in bitfountain has a preference in the dividend distribution of bitfountain.
In conclusion, 1 ASICMINER share represents 1 bitfountain share, with some privilege.
Within my understanding, the way friedcat raise capital for the bitfountain is a little different than traditional. The total number of shares of the bitfountain is 400k, and no matter how many ASIC shares we purchase through the IPO, the number of bitfountain shares outstanding will not be impacted. Things happen in this way:
1. Bitfountain has 400k shares issued, which all belongs to the 3 partners.
2. An SPV set up named ASICMINER. the total number of shares outstanding is not decided.
3. Whenever ASICMINER issue 1 share, the 3 partners will sell 1 share of bitfountain to the ASICMINER at the price of 0.
4. ASICMINER will be responsible for the R&D cost of the bitfountain. if the money ASICMINER raised through its IPO is more than bitfountain need, there will be a special big dividend.
5. ASICMINER's share in bitfountain has a preference in the dividend distribution of bitfountain.
In conclusion, 1 ASICMINER share represents 1 bitfountain share, with some privilege.
Thanks for the interpretation. I suspect these things get cleared up when friedcat prepares his first report and/or releases the business plan to board members. My current understanding diverges a bit from yours, mainly because I see 200k shares issued on GLBSE for ASICMINER. Thus, in your language, the shares already got sold from BITFOUNTAIN to ASICMINER beginning of August at a price of 0. All 200k shares are in the possession of ASICMINER. Those shares which haven't been sold through the IPO to the shareholders should still be in the account for ASICMINER.
The IPO is officially closed. However, if you seriously consider becoming a board member by going through the bulk purchase option, please contact friedcat. There is still a pile of shares which didn't get sold. However, using those may require the approval of the existing board members, since it effectively dilutes the existing shares. (currently a share is worth more than 1/200,000, because not all shares were sold).
ADDENDUM: the current traded quantity can be observed through: https://glbse.com/api/quantity_trading/ASICMINER
(which is 154262 at the time of writing)
January 10, 2013, 03:15:00 AM
That being said the first ASIC should be online by now (been 5days since his update) and the fact that he hasnt made a big announcement about the first ever ASIC hashing away looking for a bitcoin block, makes me afraid that they might have run into some other problems....
For goodness sake. When he first posted pictures of the chips he was talking about the next steps taking 2-3 weeks.
The PCB's out and tested using artificial signals (using a software-controlled source of signal to simulate the chips). The place for our first batch's deploying is also located. The first chip starting mining will be very early if the chips are correct (no more than a week after we get the chips), but the whole 12TH/s of our first batch would be online incrementally.
The chips were gotten on the 28th, one week from then was one week ago.
The next item on the checklist is
samples sent to community
January 10, 2013, 01:03:17 AM
Update
While the pcb for mining inhabits many chips, and are modular in a sense that controllers and dc/dc adapters are pluggable and replaceable. They should be are a being assembled with chips and other components by our assembly service with outsourcing contracts.
What we have done in the past week:
1. Making order and sending the pcbs, chips and other components to the assembly service.
2. Negotiating for the final renting contracts with workshop-typed land providers.
3. Dealing with mechanical parts (mining device holders, heatsinks, fans and air-conditioning).
4. Placing the mass production order to the chip foundry and making the first part of payment.
5. Getting noticed that the rest 6 wafers of the first batch in the foundry have only 6 layers left.
Thanks for all shareholders' patience and we are also very eager to have our devices mining. The service for pcb mass production and assembly has a very effective production line and responds very quickly to us, thanks to the glow competition of small and medium electronic businesses in Shenzhen.
In addition, if we are lucky enough, other current and potential mining device producers, if they ever have any step of production outsourced to Chinese businesses, will be delayed by the Chinese New Year (Feb. 10). It will be a long vacation (typically 7 days, plus a prior week and a succeeding week of low working efficiency from holiday syndrome and some of the employees' annual vacation-New Year vacation requirements).
Thanks for the update! Just want to make sure, you honor transfers of ASICMINER shares right? It doesn't make sense to have the boards fully populated and then add the ASICs. You'd have to reflow the boards twice, and there's no reason for that. Maybe Friedcat will confirm, but I would guess that they had the PCBs and stencil ready to go, and will now fully populate the boards. This would be similar to Avalon, where they designed the PCB and tested it with simulated signals prior to the arrival of the ASICs.
In fact we have two pcbs. One for testing and one for mining. The latter is also a demo-version with respect to the first batch, because besides mining it will be used for profiling (mainly heat dissipation) to make our mass production stage better. The pcbs for testing are single-chip ones that are not modular, but it's simple enough that we could make hand fixes when anything goes wrong. It helped us much in determining and fixing a lot of small problems.While the pcb for mining inhabits many chips, and are modular in a sense that controllers and dc/dc adapters are pluggable and replaceable. They should be are a being assembled with chips and other components by our assembly service with outsourcing contracts.
What we have done in the past week:
1. Making order and sending the pcbs, chips and other components to the assembly service.
2. Negotiating for the final renting contracts with workshop-typed land providers.
3. Dealing with mechanical parts (mining device holders, heatsinks, fans and air-conditioning).
4. Placing the mass production order to the chip foundry and making the first part of payment.
5. Getting noticed that the rest 6 wafers of the first batch in the foundry have only 6 layers left.
Thanks for all shareholders' patience and we are also very eager to have our devices mining. The service for pcb mass production and assembly has a very effective production line and responds very quickly to us, thanks to the glow competition of small and medium electronic businesses in Shenzhen.
In addition, if we are lucky enough, other current and potential mining device producers, if they ever have any step of production outsourced to Chinese businesses, will be delayed by the Chinese New Year (Feb. 10). It will be a long vacation (typically 7 days, plus a prior week and a succeeding week of low working efficiency from holiday syndrome and some of the employees' annual vacation-New Year vacation requirements).
January 10, 2013, 12:30:19 AM
Update
While the pcb for mining inhabits many chips, and are modular in a sense that controllers and dc/dc adapters are pluggable and replaceable. They should be are a being assembled with chips and other components by our assembly service with outsourcing contracts.
What we have done in the past week:
1. Making order and sending the pcbs, chips and other components to the assembly service.
2. Negotiating for the final renting contracts with workshop-typed land providers.
3. Dealing with mechanical parts (mining device holders, heatsinks, fans and air-conditioning).
4. Placing the mass production order to the chip foundry and making the first part of payment.
5. Getting noticed that the rest 6 wafers of the first batch in the foundry have only 6 layers left.
Thanks for all shareholders' patience and we are also very eager to have our devices mining. The service for pcb mass production and assembly has a very effective production line and responds very quickly to us, thanks to the glow competition of small and medium electronic businesses in Shenzhen.
In addition, if we are lucky enough, other current and potential mining device producers, if they ever have any step of production outsourced to Chinese businesses, will be delayed by the Chinese New Year (Feb. 10). It will be a long vacation (typically 7 days, plus a prior week and a succeeding week of low working efficiency from holiday syndrome and some of the employees' annual vacation-New Year vacation requirements).
It doesn't make sense to have the boards fully populated and then add the ASICs. You'd have to reflow the boards twice, and there's no reason for that. Maybe Friedcat will confirm, but I would guess that they had the PCBs and stencil ready to go, and will now fully populate the boards. This would be similar to Avalon, where they designed the PCB and tested it with simulated signals prior to the arrival of the ASICs.
In fact we have two pcbs. One for testing and one for mining. The latter is also a demo-version with respect to the first batch, because besides mining it will be used for profiling (mainly heat dissipation) to make our mass production stage better. The pcbs for testing are single-chip ones that are not modular, but it's simple enough that we could make hand fixes when anything goes wrong. It helped us much in determining and fixing a lot of small problems.While the pcb for mining inhabits many chips, and are modular in a sense that controllers and dc/dc adapters are pluggable and replaceable. They should be are a being assembled with chips and other components by our assembly service with outsourcing contracts.
What we have done in the past week:
1. Making order and sending the pcbs, chips and other components to the assembly service.
2. Negotiating for the final renting contracts with workshop-typed land providers.
3. Dealing with mechanical parts (mining device holders, heatsinks, fans and air-conditioning).
4. Placing the mass production order to the chip foundry and making the first part of payment.
5. Getting noticed that the rest 6 wafers of the first batch in the foundry have only 6 layers left.
Thanks for all shareholders' patience and we are also very eager to have our devices mining. The service for pcb mass production and assembly has a very effective production line and responds very quickly to us, thanks to the glow competition of small and medium electronic businesses in Shenzhen.
In addition, if we are lucky enough, other current and potential mining device producers, if they ever have any step of production outsourced to Chinese businesses, will be delayed by the Chinese New Year (Feb. 10). It will be a long vacation (typically 7 days, plus a prior week and a succeeding week of low working efficiency from holiday syndrome and some of the employees' annual vacation-New Year vacation requirements).
January 09, 2013, 09:55:42 PM
Another friend of mine is interested in betting a small amount money on ASICMINER shares after I talked to her about this project yesterday. If any one is interested in selling them, please PM me the number of shares and the price.
January 09, 2013, 09:32:42 PM
It doesn't make sense to have the boards fully populated and then add the ASICs. You'd have to reflow the boards twice, and there's no reason for that. Maybe Friedcat will confirm, but I would guess that they had the PCBs and stencil ready to go, and will now fully populate the boards. This would be similar to Avalon, where they designed the PCB and tested it with simulated signals prior to the arrival of the ASICs.
This, reflow. Boards with surface mount devices are rarely (never?) half-made. And sadly, if the board has small packages, it can be extremely difficult to crank one out by hand. The QFN 40 package they showed is nearly impossible to do by hand. Watch this video. Note that the board they are actually working on is totally bare, regardless of what they say about kapton tape.
One thing that they can do just to validate the chip is to build a second board design with sockets. ZIF sockets for MLP packages like the QFN 40 are expensive, like hundreds of dollars each expensive. Unless they spent thousands on sockets, the blip from them testing will be lost in the poisson noise that dominates all of our short range hash speed estimates.
Building a one or two chip socketed board seems prudent, and I suspect that they did. But of course, I have no more information than anyone else here.
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