I am selling ASICMINER shares, if you want some then PM me!
//DeaDTerra
Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1345. (Read 3917468 times)
wow. news got through to the majority of the community I think.
I guess the next buy opportunity is when shares from the private bulk are offered to the public.
EDIT: I see a lot of asks with huge volumes. I think someone is trying to make a profit from the IPO assuming the companys offering is too low...
I guess the next buy opportunity is when shares from the private bulk are offered to the public.
EDIT: I see a lot of asks with huge volumes. I think someone is trying to make a profit from the IPO assuming the companys offering is too low...
...new shares of ASICMINER aren't being sold on GLBSE anymore? The price just jumped to 250% of what it was.
I've never bought shares of a company on GLBSE before, or used stocks, however I would like to support ASICMINER. I have created an account on GLBSE, and am currently waiting for bitcoins to appear in my account, I had one question though:
The page states that "if the total money raised from ASICMINER and the real-world is not enough to cover the cost required by the foundry to tape out the ASIC chips before August 28, 2011, 100.5% of the total Bitcoins raised from ASICMINER will be returned".. since it is now almost Aug 28 2012 I am assuming that the chip is in production already? Is there anything that might stop this from coming to market at this point?
The page states that "if the total money raised from ASICMINER and the real-world is not enough to cover the cost required by the foundry to tape out the ASIC chips before August 28, 2011, 100.5% of the total Bitcoins raised from ASICMINER will be returned".. since it is now almost Aug 28 2012 I am assuming that the chip is in production already? Is there anything that might stop this from coming to market at this point?
I am 100.5% sure that's a typo
ASICs are a 2012 topic.
I was wondering about that, I thought that maybe development started back then or something. So do all the shares available on GLBSE need to be purchased in order for this to be produced? I've never bought shares of a company on GLBSE before, or used stocks, however I would like to support ASICMINER. I have created an account on GLBSE, and am currently waiting for bitcoins to appear in my account, I had one question though:
The page states that "if the total money raised from ASICMINER and the real-world is not enough to cover the cost required by the foundry to tape out the ASIC chips before August 28, 2011, 100.5% of the total Bitcoins raised from ASICMINER will be returned".. since it is now almost Aug 28 2012 I am assuming that the chip is in production already? Is there anything that might stop this from coming to market at this point?
The page states that "if the total money raised from ASICMINER and the real-world is not enough to cover the cost required by the foundry to tape out the ASIC chips before August 28, 2011, 100.5% of the total Bitcoins raised from ASICMINER will be returned".. since it is now almost Aug 28 2012 I am assuming that the chip is in production already? Is there anything that might stop this from coming to market at this point?
I am 100.5% sure that's a typo
ASICs are a 2012 topic. Update
A more detailed estimation about the return is shown online, based on the condition given in the main thread:
https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdGppUktrYmlIZ3MwRUxhZTk0WEJBd1E
Currently it considers three variables:
1. The electricity fee. (0$/KWh and 0.1$/KWh)
2. The total hashrate of the whole network.
3. Block reward halving. (before and after)
More factors will be taken into consideration.
A more detailed estimation about the return is shown online, based on the condition given in the main thread:
https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdGppUktrYmlIZ3MwRUxhZTk0WEJBd1E
Currently it considers three variables:
1. The electricity fee. (0$/KWh and 0.1$/KWh)
2. The total hashrate of the whole network.
3. Block reward halving. (before and after)
More factors will be taken into consideration.
Correct me if I'm wrong, but profitability outlined in this spreadsheet shows return rates prior to ASICMINER share principle being fully returned. Post principle repayment these return figures reduce by 50%.
I've never bought shares of a company on GLBSE before, or used stocks, however I would like to support ASICMINER. I have created an account on GLBSE, and am currently waiting for bitcoins to appear in my account, I had one question though:
The page states that "if the total money raised from ASICMINER and the real-world is not enough to cover the cost required by the foundry to tape out the ASIC chips before August 28, 2011, 100.5% of the total Bitcoins raised from ASICMINER will be returned".. since it is now almost Aug 28 2012 I am assuming that the chip is in production already? Is there anything that might stop this from coming to market at this point?
The page states that "if the total money raised from ASICMINER and the real-world is not enough to cover the cost required by the foundry to tape out the ASIC chips before August 28, 2011, 100.5% of the total Bitcoins raised from ASICMINER will be returned".. since it is now almost Aug 28 2012 I am assuming that the chip is in production already? Is there anything that might stop this from coming to market at this point?
Regarding the die size update to 17mm2
My research, which might not be definitive, shows that large die are incompatible with the MLM process. Can you comment?
Will you be providing investors with documentation of your arrangements with the foundry?
I really want this endeavor to succeed and I'm pondering whether to invest some serious money. While I have some issues with the business plan, e.g. I am not thrilled by the idea of self mining, there is one thing much more important.
I would like to be reasonably sure that you won't run off with the money, never to be seen again, or perhaps just pretend to produce the chips. Again, I'm not accusing you of being a scammer, but to me you are just a pseudonym posting some text on a forum board.
Is there anybody on this board who knows you and/or have met you in person? I'm afraid your name being known to glbse is not that reassuring. How can I be sure that your mystery friends even exist? Would you perhaps be willing to arrange a skype conference call to answer questions and show what you're up to? Anything.
Another way would be to arrange it so that GLBSE locks some of the funds in escrow until a later date. I don't know if that's possible.
Perhaps a start would be some evidence that bitfountain actually exists as a registered company.
I would like to be reasonably sure that you won't run off with the money, never to be seen again, or perhaps just pretend to produce the chips. Again, I'm not accusing you of being a scammer, but to me you are just a pseudonym posting some text on a forum board.
Is there anybody on this board who knows you and/or have met you in person? I'm afraid your name being known to glbse is not that reassuring. How can I be sure that your mystery friends even exist? Would you perhaps be willing to arrange a skype conference call to answer questions and show what you're up to? Anything.
Another way would be to arrange it so that GLBSE locks some of the funds in escrow until a later date. I don't know if that's possible.
Perhaps a start would be some evidence that bitfountain actually exists as a registered company.
Could you give us the results of your chat with friedcat? Inquiring minds want to know. Thanks
Thanks for these answers !
One more question: How is the private sale coming along ? The sale on GLBSE is doing very well imo
Will you be able to raise the needed capital before the end of August the way the share sale is going so far ?
One more question: How is the private sale coming along ? The sale on GLBSE is doing very well imo
Will you be able to raise the needed capital before the end of August the way the share sale is going so far ?
We now have more than 2,000 BTC worth of shares executed as private bulk purchase and about 7,000 BTC worth of shares asked for reservation by potential investors.
So there are still some uncertainties but overall our IPO is doing well.
Thanks for your questions.
You could decide yourself which of them is most possible per month.
1. When we begin to sell products to customers, limitlessly expansion will harm the buyers' motivation, hence the revenue via selling.
2. If may be better to keep the revenue for R&D of the next-generation of products than expand too much with the original technology, especially that we want to stay in the mining ASIC industry and help securing the network in the long run.
I assume the monthly return rate takes into account the increased difficulty ?
It's already taken into account. We provided the return rate based on a set of possible total network hashrates (therefore difficulties).You could decide yourself which of them is most possible per month.
An additional question: Why does the company not want to or sees it feasible to expand beyond 50TH/s for their own mining farm ?
Is that an 'effort' / location constraint ?
Thanks
It may be feasible, but there are some more facts to consider:Is that an 'effort' / location constraint ?
Thanks
1. When we begin to sell products to customers, limitlessly expansion will harm the buyers' motivation, hence the revenue via selling.
2. If may be better to keep the revenue for R&D of the next-generation of products than expand too much with the original technology, especially that we want to stay in the mining ASIC industry and help securing the network in the long run.
Thanks for these answers !
One more question: How is the private sale coming along ? The sale on GLBSE is doing very well imo
Will you be able to raise the needed capital before the end of August the way the share sale is going so far ?
Thanks for your questions.
You could decide yourself which of them is most possible per month.
1. When we begin to sell products to customers, limitlessly expansion will harm the buyers' motivation, hence the revenue via selling.
2. If may be better to keep the revenue for R&D of the next-generation of products than expand too much with the original technology, especially that we want to stay in the mining ASIC industry and help securing the network in the long run.
I assume the monthly return rate takes into account the increased difficulty ?
It's already taken into account. We provided the return rate based on a set of possible total network hashrates (therefore difficulties).You could decide yourself which of them is most possible per month.
An additional question: Why does the company not want to or sees it feasible to expand beyond 50TH/s for their own mining farm ?
Is that an 'effort' / location constraint ?
Thanks
It may be feasible, but there are some more facts to consider:Is that an 'effort' / location constraint ?
Thanks
1. When we begin to sell products to customers, limitlessly expansion will harm the buyers' motivation, hence the revenue via selling.
2. If may be better to keep the revenue for R&D of the next-generation of products than expand too much with the original technology, especially that we want to stay in the mining ASIC industry and help securing the network in the long run.
projections are looking good !
I assume the monthly return rate takes into account the increased difficulty ?
An additional question: Why does the company not want to or sees it feasible to expand beyond 50TH/s for their own mining farm ?
Is that an 'effort' / location constraint ?
Thanks
I assume the monthly return rate takes into account the increased difficulty ?
An additional question: Why does the company not want to or sees it feasible to expand beyond 50TH/s for their own mining farm ?
Is that an 'effort' / location constraint ?
Thanks
Update
A more detailed estimation about the return is shown online, based on the condition given in the main thread:
https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdGppUktrYmlIZ3MwRUxhZTk0WEJBd1E
Currently it considers three variables:
1. The electricity fee. (0$/KWh and 0.1$/KWh)
2. The total hashrate of the whole network.
3. Block reward halving. (before and after)
More factors will be taken into consideration.
A more detailed estimation about the return is shown online, based on the condition given in the main thread:
https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdGppUktrYmlIZ3MwRUxhZTk0WEJBd1E
Currently it considers three variables:
1. The electricity fee. (0$/KWh and 0.1$/KWh)
2. The total hashrate of the whole network.
3. Block reward halving. (before and after)
More factors will be taken into consideration.
I really want this endeavor to succeed and I'm pondering whether to invest some serious money. While I have some issues with the business plan, e.g. I am not thrilled by the idea of self mining, there is one thing much more important.
I would like to be reasonably sure that you won't run off with the money, never to be seen again, or perhaps just pretend to produce the chips. Again, I'm not accusing you of being a scammer, but to me you are just a pseudonym posting some text on a forum board.
Is there anybody on this board who knows you and/or have met you in person? I'm afraid your name being known to glbse is not that reassuring. How can I be sure that your mystery friends even exist? Would you perhaps be willing to arrange a skype conference call to answer questions and show what you're up to? Anything.
Another way would be to arrange it so that GLBSE locks some of the funds in escrow until a later date. I don't know if that's possible.
Perhaps a start would be some evidence that bitfountain actually exists as a registered company.
I would like to be reasonably sure that you won't run off with the money, never to be seen again, or perhaps just pretend to produce the chips. Again, I'm not accusing you of being a scammer, but to me you are just a pseudonym posting some text on a forum board.
Is there anybody on this board who knows you and/or have met you in person? I'm afraid your name being known to glbse is not that reassuring. How can I be sure that your mystery friends even exist? Would you perhaps be willing to arrange a skype conference call to answer questions and show what you're up to? Anything.
Another way would be to arrange it so that GLBSE locks some of the funds in escrow until a later date. I don't know if that's possible.
Perhaps a start would be some evidence that bitfountain actually exists as a registered company.
Thanks for you interest and questions. Would you please PM me your skype id and e-mail address so we could arrange the skype conference and send you the documents you require? Thanks.
I really want this endeavor to succeed and I'm pondering whether to invest some serious money. While I have some issues with the business plan, e.g. I am not thrilled by the idea of self mining, there is one thing much more important.
I would like to be reasonably sure that you won't run off with the money, never to be seen again, or perhaps just pretend to produce the chips. Again, I'm not accusing you of being a scammer, but to me you are just a pseudonym posting some text on a forum board.
Is there anybody on this board who knows you and/or have met you in person? I'm afraid your name being known to glbse is not that reassuring. How can I be sure that your mystery friends even exist? Would you perhaps be willing to arrange a skype conference call to answer questions and show what you're up to? Anything.
Another way would be to arrange it so that GLBSE locks some of the funds in escrow until a later date. I don't know if that's possible.
Perhaps a start would be some evidence that bitfountain actually exists as a registered company.
I would like to be reasonably sure that you won't run off with the money, never to be seen again, or perhaps just pretend to produce the chips. Again, I'm not accusing you of being a scammer, but to me you are just a pseudonym posting some text on a forum board.
Is there anybody on this board who knows you and/or have met you in person? I'm afraid your name being known to glbse is not that reassuring. How can I be sure that your mystery friends even exist? Would you perhaps be willing to arrange a skype conference call to answer questions and show what you're up to? Anything.
Another way would be to arrange it so that GLBSE locks some of the funds in escrow until a later date. I don't know if that's possible.
Perhaps a start would be some evidence that bitfountain actually exists as a registered company.
Going p2pool from the start with that sort of hashing power would probably be a good idea. Alone you could be bigger than any other pool, unless their was a pool you really wanted to mine on.
I'm not familiar with p2pool. We want to always make our hashrates public, or our financials won't be transparent enough. I wonder if it is easy to identify how much hashrates are contributed by us from the p2pool statistics alone.
Ah yes, I see your problem. You could do it, but having a 3rd party verify your hashrates by using a pool would be them confirming the numbers.
I think p2pool would NOT be advisable for another reason: dynamic range. AFAIK p2pool works best if the miners have equal hashing power. If you add a big guy like an asic miner to the pool, the results may get skewed considerably. p2pool members currently range between 100 GH/s to 100 MH/s. So the smallest guy is waiting for a share 1000 longer than the big guy. If you go beyond 10000 the small guys will wait forever for a share, which defeats the purpose of a pool. (But I read somewhere a discussion of introducing tiers, either geographically or by other means. If they would use hashing power, you could group miners by their hashing power, ideally the integral would be preserved, i.e. each tier has about the same hashing power, higher tiers feat. a few big guys, lower tiers many small ones, but that's not done yet...)
ADDENDUM: "though large miners have the option to raise their difficulty, and so reduce the impact of their mining on P2Pool's minimum difficulty." (https://en.bitcoin.it/wiki/P2Pool) Which would certainly make sense for an ASIC miner...
If they get around to selling ASIC miners doesnt it make sense to create an ASIC p2pool ?
Update
We collect more questions frequently asked by the community in the past several days here.
Q: What is your fundraising target? How do you decide whether this IPO succeeds or not?
A: The minimum target is 100k$. If the raised funds surpass this number, we will consider that our IPO is successful. However, we would like to raise more (120-140k$) because keeping the budget at minimum is very prone to unexpected scenarios.
Q: So you will send the extra shares at at time?
A: Yes.
Q: How do you achieve so low costs?
A: There are several factors.
1. 130nm node size. As the mainstream switches to 28nm, the 130nm existed for so long that even many smaller foundries could do it very well. The intense competition of manufacturing in China brings the price of everything down, including ICs.
2. MLM(Multi-Level-Mask). Compared to full-mask, this technology reduces the cost of mask-set to half with the exchange of increasing the margin cost by about 40%. This is a good deal for us because the margin cost of chips themselves is one of the lowest cost in our budget.
3. Low EDA license fees and low labor cost in China.
4. We ourselves did most of the RTL design, optimization and simulation.
Q: Why don't you use Bitfountain for your GLBSE ticker?
A: Because the ASICMINER shareholders (GLBSE investors) have an extra set of privileges upon Bitfountain shareholder (us).
We collect more questions frequently asked by the community in the past several days here.
Q: What is your fundraising target? How do you decide whether this IPO succeeds or not?
A: The minimum target is 100k$. If the raised funds surpass this number, we will consider that our IPO is successful. However, we would like to raise more (120-140k$) because keeping the budget at minimum is very prone to unexpected scenarios.
Q: So you will send the extra shares at at time?
A: Yes.
Q: How do you achieve so low costs?
A: There are several factors.
1. 130nm node size. As the mainstream switches to 28nm, the 130nm existed for so long that even many smaller foundries could do it very well. The intense competition of manufacturing in China brings the price of everything down, including ICs.
2. MLM(Multi-Level-Mask). Compared to full-mask, this technology reduces the cost of mask-set to half with the exchange of increasing the margin cost by about 40%. This is a good deal for us because the margin cost of chips themselves is one of the lowest cost in our budget.
3. Low EDA license fees and low labor cost in China.
4. We ourselves did most of the RTL design, optimization and simulation.
Q: Why don't you use Bitfountain for your GLBSE ticker?
A: Because the ASICMINER shareholders (GLBSE investors) have an extra set of privileges upon Bitfountain shareholder (us).
Going p2pool from the start with that sort of hashing power would probably be a good idea. Alone you could be bigger than any other pool, unless their was a pool you really wanted to mine on.
I'm not familiar with p2pool. We want to always make our hashrates public, or our financials won't be transparent enough. I wonder if it is easy to identify how much hashrates are contributed by us from the p2pool statistics alone.
Ah yes, I see your problem. You could do it, but having a 3rd party verify your hashrates by using a pool would be them confirming the numbers.
I think p2pool would NOT be advisable for another reason: dynamic range. AFAIK p2pool works best if the miners have equal hashing power. If you add a big guy like an asic miner to the pool, the results may get skewed considerably. p2pool members currently range between 100 GH/s to 100 MH/s. So the smallest guy is waiting for a share 1000 longer than the big guy. If you go beyond 10000 the small guys will wait forever for a share, which defeats the purpose of a pool. (But I read somewhere a discussion of introducing tiers, either geographically or by other means. If they would use hashing power, you could group miners by their hashing power, ideally the integral would be preserved, i.e. each tier has about the same hashing power, higher tiers feat. a few big guys, lower tiers many small ones, but that's not done yet...)
ADDENDUM: "though large miners have the option to raise their difficulty, and so reduce the impact of their mining on P2Pool's minimum difficulty." (https://en.bitcoin.it/wiki/P2Pool) Which would certainly make sense for an ASIC miner...
OP. Happy with this endeavor. Good luck.
Jump to: