Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 181. (Read 3917058 times)

Smh at the "Dear Friedcat" posts. I sincerely doubt he keeps up with this thread; those wanting to contact him should probably send PMs (although feel free to paste the correspondence here!).

+1

The man is in the middle of a new product launch/shipping/support, potential large scale deployment of mining gear for own operations and probably new chip design/tapeout. Pretty sure attending to the relentless whining and nagging from this thread is quite low on his list of priorities right now.

With respect, but, could you guys please give it a rest?  Let the man do his job.  If the Exa-hash conference wasn't interesting enough for you to hold, then sell...

 

no, how does he post in prisma threads then?

So yes Friedcat, plz say something. anything.

maybe he can't access the forum

http://cointelegraph.com/news/112603/the-strange-case-of-bitcointalks-chinese-ban

Misread your message; had to go look at the price to make sure that I didn't miss what you missed... 

I had to go look at the price, thinking I missed something overnight.

Might be the worst prediction I have ever seen

Who knows, but not being positive or not profiting doesn't mean that the company is failing.
He might be still reinvesting it to position himself better in the market, still financing its growth from operations.
Killing the competition is priority, the end game is not profiting now, but owning the market tomorrow.
Once you have a dominant position, you can take a break and reel in your profits.

it looks like we are on the verge of another bitcoin bubble, I hope that AM doesn't leave us all behind on some of the good fortune.

So what? Cash flows are not positive? yet?  

Where did you get the idea that they can't afford building something?

Again with the anxiety?
Read this and print it out:
https://bitcointalksearch.org/topic/m.7147330
https://bitcointalksearch.org/topic/m.8079787

how come a company with 100.000k btc mined and much more from sales cant afford building something? and thats only friedcats public share

Look, this is bitcoin world but Friedcat has to choose whether he wants to operate in an above board and transparent manner or in a shady grey area. We are shareholders of Asicminer.  As an officer and director of the company Friedcat has three duties to shareholders: the duty of care, the duty of loyalty, and the duty of disclosure.

Regarding duty of care, Friedcat seems to be doing his best and working hard at the operations of the company and I don't think there have been any huge mis-steps.  I truly appreciate that and commend him on his efforts.

Regarding duty of loyalty, it seems like Friedcat has been loyal to the interests of the shareholders and hasn't been making decisions that benefit him or bit fountain rather than shareholders.(although that has been questioned with Rockminer and I don't think it's been disclosed if or how much he and other bit fountain members are being compensated outside of dividends). We don't know for sure that Friedcat has maintained his duty of loyalty because he has failed so miserably at his duty of disclosure.

We haven't received a financial statement in quite some time. We don't know the current status of relationships with franchise partners. We don't know the size of our hashrate. We have a goal from a few months ago and no update on the progress.  Why aren't these things being disclosed? It doesn't take too much time to jump on here and provide a little update and most of those things won't be of use to the competition. . I know other people have volunteered to act as a PR contact and someone has even been chosen but nothing has changed.

Getting back to my original point, Friedcat seemed to have wanted to operate in a transparent shareholder friendly manner for a long time.  At some point that changed. I feel like the company is at a turning point. Friedcat can choose that Asicminer be perceived as a legitimate entity that is loyal and responsible to its shareholders or a questionable entry that may not live up to its promises.  

I'm in this for the longhaul because I believe that Asicminer can act like a responsible company and operate profitably. I would just like for Friedcat to prove me right.

If Friedcat owns the majority of shares - how do "we own the company"?     We own a part of the company, he owns the bigger part.

I believe that he only thing he owes us is equal dividend per share.  By holding the majority of shares himself, his decisions on when/if to release information are 100% his to make.  I may not like it, but I certainly don't believe it is my "right" to know more.  I can get out any time I want if I decide he is doing it wrong.  This is a system that is ripe for abuse, but it is the system that we all chose to get involved in by trading in an unregulated market. 

+1

Dear Friedcat,

I urge you to consider the precedence you do set for the bitcoin world.
Only the highest business ethic and proper shareholder relations will
be good enough to further the image of bitcoin!

Sincerely

Someone who made the IPO possible.

+1

I disagree. He does owe the investors information about the status of the company since we own the company. It's just that he decides how long he waits before telling us what's going on with AM. If he set a schedule of updating shareholders every quarter on a specific date then I think that would ease a lot of people's concerns. He used to be on the forums weekly. Now we don't know if we will hear from him tomorrow or in 6 months from now.
He is actually ignoring shareholders of the company and the board members haven't been much better which makes me think there is a lack of communication between Friedcat and the board.  There needs to be a regularly scheduled update from Friedcat with financials.  He can reveal as little as he wants I guess but knowing he is alive and hasn't disappeared with our money would be comforting.

I get that this is a bitcoin company but there is a reason why reports are required by the SEC. Friedcat has always seemed like a trustworthy and honorable person. I expect him to treat his shareholders fairly. Please improve relations.