Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1340. (Read 3917079 times)

There was a very heavy crash in between, and friedcat should have took notice of it. I'm not sure, but for me it is a sign.

Please stop with all this FUD, I am tired of people jumping to conclusions way to soon on this forum.
1, He doesn't have internet access at all times.
2, what means have you tried contacting him by?
//DeaDTerra

No, I didn't. I have not seen it coming before the weekend, I wanted invest also, but I was too late. What a luck.

He has said before he doesn't have access to internet at all times only when he goes to internet cafes etc.
//DeaDTerra

FUD? Have you invested?

friedcat is not answering any more since his closing and before the crash. So let me speculate: He took the BTC, sold them all at once at the Mt.Gox exchange and ran away. Hopefully not.

Just my two Cents.

yaknow if ~800 shares makes gambit small time, then i must be a dust bunny or something with my 5 shares. (i just HAD to buy games from steam when we were still <$8 and use up my BTC)

There is another meeting soon. Issues like this are going to be brought up again Gabit.

Hi there

I'm a small time investor too in this venture ~800 stocks, so I came here to voice my opinion too (after this horrible 5 posts jail).

Correct me if I'm wrong, but aren't there still 50K of stocks available? The IPO closed early due target was reached in that old price? So if the BTC value still declines, we should be able to reach the goal of $120K (10+90+something to play with) with all the stocks sold and BTC value around $6?

If this is so, I suggest we just go as planned. And if 28th we are not on target, then figure out what we'll do.

Self mining as quality control and performance optimization is still a sound strategy. I don't see any modifications necessary. Even if it would be more profitable to sell the chips right away, the evaluation of the chip in action will give feedback for subsequent design improvements...


I think the IPO should at least provide enough funds to cover the initial costs. After that we could sell our allocation as options, as previously suggested. That should provide further funding until the money from the actual selling rolls in...
However, I haven't looked at the financials of the business plan (yet) so I don't know when liquidity is required.

There are "suggestions" to change the business plan from mining to selling rigs. Point: NO.

and there are worries that the fund won't be able meet the need. Point: Don't worry.

sorry. what's your point?

Bitcoin exchange rate crash:
as long as it won't crash to below 0.2 USD, the ASIC is profitable.
I believe bitcoin will surpass the 30USD in 12 month. What's your belief? crash to 0.2 USD? Then you won't be reading this post.


Bulk orders are scared away:
If the bulk orders cancels, Friedcat will find fiat money funds to make it happen. There is back up plan. Only the "big dividend" disappeared.
I believe the bulk investors is more experienced than the retail investors, and it's not likely that all of them were scared.
What worries me is that some of them have invested in BST, and they are trying to withdraw and asking for a waiting period before all this turmoil.

Self mining V.S. selling mining rigs:
1. Please redo the math to decide which is profitable at the beginning.
2. I speculate that BFL will be mining themselves, but they just won't tell their customers.

Difficulty increase:
let's see what happened next.

Difficulty increase 20X+Price crash to 0.2USD
then, who are the mining miners ?

Yes.

Nothing has changed significantly between today and a week or two ago.

Why dont you just calm down and stop running around with your arms in the air shouting "FIRE" ? That would be a good place to start.

I'm guessing that the new 'stable' Glasswalker bitstream for the Enterpoint FPGAs has got something to do with the spike in the hashrate

3TH? No, but it is a noticeable addition

Warning.  This is premature, but there has been a large spike in network capacity over the past couple of days.

Let's hope it's variance, but it's a hockey stick pattern.




Edit:
700 GH of the above was added to the EMC pool under multiple pool accounts.  Seems like current technology and not an ASIC scare - but what about the other 3 TH?  Variance?

I think it would be worthwhile to funnel all these questions/answers into a system. A wiki would be an option.
But before that we have to decide on which information is actually confidential (trade secret) and which is open to the public. If we want to share confidential information, we need either a gatekeeper (trusted person) or a secure system to logon to. I am pessimistic that we can keep anything confidential which enters the realm of the internet. So someone has to make a decision on what information is fit for the public and which is not. For now that would be friedcat I guess.

Also, even though board members may assume a higher trust level, you may consider that one of them can be a current/future competitor. Just saying.... trust no one.

Well, this place was very busy today. I was going to post about the skype meeting, but I see the news is out


Since I was the only one who actually got a good look at him while testing a couple of hours earlier, I can say that he is perfectly human. If it's a bot it's a well made one. Terminator good...

If I had known there would be problems later I would have stayed longer and talked with him. Trust wise I'm more than satisfied anyway, and hopefully we can get a glimpse of the working environment, and his partners later on. The latter was the main point for me but I forgot to tell Friedcat that until the same day Thoughts were going in many directions so it is impossible to give a summary, though. A big issue is the bitcoin price but you already knew that, another is managing the heat generated by the chip. Opposite ends of the spectrum. Friedcat had a hard time competing for the attention so information was a little thin because of the format. Maybe my fault for rushing things, while he was in Beijing?

About the market price; since I haven't actually invested any money yet, I have mixed feelings on it, but the day after a crash isn't the time to make predictions. A few days ago greed ruled, and now it's fear, and just a month ago $8 was reached for the first time in a long while and it was being considered phenomenal. Hardly panic worthy. Until we know what happens to the reservations we know nothing.

There is no guarantee that the reserved shares will go through. In fact, due to the crash, it's even less likely because the investment risk has practically doubled. So taking that math and applying it fairly to what we have already raised:

8000 X $ 7.80 = $62,400

I promise you the price has not even begun bottoming out yet. It could hit 5 tonight.


I'm not making any decisions, I'm making suggestions (and getting some constructive feedback in return). I really want this stock to win, just because it's the only chance Bitcoin has to not be suffocated by BFL for the next half a year or more. I'll take my shares back (I've already lost most of their value) but I'd rather find a better plan.

The options for each unit idea is pretty cool sounding, way better than my rebate idea. Of course friedcat should make the big calls because he's much more knowledgeable about this stuff.

edit: also, it is not sustainable to be a mining company building our own ASICs. I'm sorry. Selling the hardware is way more profitable and allows the hashrate to be distributed to more people anyway. If we mine ourselves we'll cave in on our own difficulty. This is why BFL is not setting up giant mining farms, the less they mine the more hardware they can sell. They know they can manage to be the only source of competitive mining rigs.