Chips weren't ordered because there was no money to pay for the order. Attempts at securing necessary funds failed. So the order was never placed due to the lack of funds.
So you just run away??
Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 44. (Read 3917468 times)
March 15, 2015, 08:17:19 PM
So you just run away??
March 15, 2015, 06:11:16 PM
Actually I find it strange that everyone is ignoring the fact that FC didn't place a wafer order before his disappearance. He was supposed to have chips in hand in February so the order was supposed to be placed in December or early January. This never happened, yet nobody is complaining about this. If we ignore all the recent facts the problem is still there. They never intended to have miners with BE300 chip. Not on this financial situation.
Right. The order should have been placed in the 2nd week of December 2014 after the BE300s had been successfully tested in single and multi-chip board configurations. https://bitcointalksearch.org/topic/asicminer-be300s-samples-arrived-02wg-achieved-at-board-level-888260
Chips weren't ordered because there was no money to pay for the order. Attempts at securing necessary funds failed. So the order was never placed due to the lack of funds.
If this is true, the game was up last year already. All this shady disappearance / empty office / stolen farm business is just kabuki theater.
100% true and if this was information that board members had access to, then I would like to know if these members sold shares based on this priveliged information.
March 15, 2015, 06:09:05 PM
Chips weren't ordered because there was no money to pay for the order. Attempts at securing necessary funds failed. So the order was never placed due to the lack of funds.
Had this been disclosed I am sure that AM could have raised the funds easily by issuing shares or taking out a traditional loan in some form. Seems straight up scam my now.
March 15, 2015, 06:06:58 PM
Actually I find it strange that everyone is ignoring the fact that FC didn't place a wafer order before his disappearance. He was supposed to have chips in hand in February so the order was supposed to be placed in December or early January. This never happened, yet nobody is complaining about this. If we ignore all the recent facts the problem is still there. They never intended to have miners with BE300 chip. Not on this financial situation.
Right. The order should have been placed in the 2nd week of December 2014 after the BE300s had been successfully tested in single and multi-chip board configurations. https://bitcointalksearch.org/topic/asicminer-be300s-samples-arrived-02wg-achieved-at-board-level-888260
Chips weren't ordered because there was no money to pay for the order. Attempts at securing necessary funds failed. So the order was never placed due to the lack of funds.
If this is true, the game was up last year already. All this shady disappearance / empty office / stolen farm business is just kabuki theater.
Phrased differently, at what point did the board members all start to dump their shares? Lots of constant imports since December to Havelock... If the board was aware that there was no money to place a BE300 order, why even bother with sample chips... and did they use the information to dump discretely?
My guess is that Bitfountain had no need to 'dump shares' as they already controlled the wallets per se.. Did any board members have the opportunity to bail before Friedcats disappearance became 'Public' information?
March 15, 2015, 05:50:48 PM
March 15, 2015, 05:04:14 PM
Chips weren't ordered because there was no money to pay for the order. Attempts at securing necessary funds failed. So the order was never placed due to the lack of funds.
There are many interpretations to there being "no money". No money in AM's remaining funds, no money in the board member's wallets, no money because "only FC has control over the accounts with funds" etc etc.
I personally have no clue what those "attempts at securing funds" consisted of. Maybe this is public information?
If there were no funds before FC disappeared then it has been a full blown scam by everyone with access to this information in the board, since last year.
If the was 'no money', then what happened to the ~60 Ph/s worth of BE200 chips that were ordered in June of 2014? Even if the chips were poorly designed, I'm sure that someone would buy them if heavily discounted.
Also, what was all of this talk about having cheap electricity in northern China? If the rates were as cheap as suggest, why not just self mine?
March 15, 2015, 05:01:15 PM
...
If this is true, the game was up last year already. All this shady disappearance / empty office / stolen farm business is just kabuki theater.
If this is true, the game was up last year already. All this shady disappearance / empty office / stolen farm business is just kabuki theater.
Dishonesty? In MY Bitcoin securities?!
March 15, 2015, 04:59:59 PM
Chips weren't ordered because there was no money to pay for the order. Attempts at securing necessary funds failed. So the order was never placed due to the lack of funds.
There are many interpretations to there being "no money". No money in AM's remaining funds, no money in the board member's wallets, no money because "only FC has control over the accounts with funds" etc etc.
I personally have no clue what those "attempts at securing funds" consisted of. Maybe this is public information?
If there were no funds before FC disappeared then it has been a full blown scam by everyone with access to this information in the board, since last year.
March 15, 2015, 04:58:05 PM
Actually I find it strange that everyone is ignoring the fact that FC didn't place a wafer order before his disappearance. He was supposed to have chips in hand in February so the order was supposed to be placed in December or early January. This never happened, yet nobody is complaining about this. If we ignore all the recent facts the problem is still there. They never intended to have miners with BE300 chip. Not on this financial situation.
Right. The order should have been placed in the 2nd week of December 2014 after the BE300s had been successfully tested in single and multi-chip board configurations. https://bitcointalksearch.org/topic/asicminer-be300s-samples-arrived-02wg-achieved-at-board-level-888260
Chips weren't ordered because there was no money to pay for the order. Attempts at securing necessary funds failed. So the order was never placed due to the lack of funds.
If this is true, the game was up last year already. All this shady disappearance / empty office / stolen farm business is just kabuki theater.
March 15, 2015, 04:49:36 PM
Chips weren't ordered because there was no money to pay for the order. Attempts at securing necessary funds failed. So the order was never placed due to the lack of funds.
March 15, 2015, 03:07:07 PM
It is a gamble but from my own point of view I would consider investing my AMhash shares and some more in BE300 if all of the conditions were met:
1 there is clear and pubic plan from sample to chip/device with mile stones on the time line.
2 there is a clear structure of management
3 There is a person on the board who communicates with non-chinese investors
4 there are simple business continuity risk polices in place
providing that test of the sample where close to be as good as announced some time ago. With chips doing 0.2 J/ghs, or even 0.35 there is a larger window than it was with BE200.
but it is a dream, the same as might appear in the head of a person who still can see but already been beheaded. Asic Miner seems to have no assets, little bit of cash and bunch of greedy managers. They have fired line stuff, have no money, no idea, no leadership and to top it up feel very little bit of responsibility. They have personal packed wallets but can not trust themselves and invest in OWN company, but at the same time hope that someone else will do.
Regarding 1000 usd target btc/usd it is just FUBAR. We reached moment when btc price is dictated mostly by one factor - electricity cost, other are just a fluctuation from demand. Just look at Bitmain's reaction to AM failure. Most of us know that there will be no large deployments in near future. BF is far away from wafer order, AM we know, Bitman has got to sell off existing stock (which already is on). Difficulty will not rise that rapidly in next few months there will be swings down to xrate of btc.
So there is no reason why BE300 wafer should not be placed Dec/Jan before alleged Mine theft. I would want to hear real explanation to this question.
If there is no good answer I may assume that all of the events as AMHash failure, BE300 and no idea now are not a coincidence but an exit strategy
1 there is clear and pubic plan from sample to chip/device with mile stones on the time line.
2 there is a clear structure of management
3 There is a person on the board who communicates with non-chinese investors
4 there are simple business continuity risk polices in place
providing that test of the sample where close to be as good as announced some time ago. With chips doing 0.2 J/ghs, or even 0.35 there is a larger window than it was with BE200.
but it is a dream, the same as might appear in the head of a person who still can see but already been beheaded. Asic Miner seems to have no assets, little bit of cash and bunch of greedy managers. They have fired line stuff, have no money, no idea, no leadership and to top it up feel very little bit of responsibility. They have personal packed wallets but can not trust themselves and invest in OWN company, but at the same time hope that someone else will do.
Regarding 1000 usd target btc/usd it is just FUBAR. We reached moment when btc price is dictated mostly by one factor - electricity cost, other are just a fluctuation from demand. Just look at Bitmain's reaction to AM failure. Most of us know that there will be no large deployments in near future. BF is far away from wafer order, AM we know, Bitman has got to sell off existing stock (which already is on). Difficulty will not rise that rapidly in next few months there will be swings down to xrate of btc.
So there is no reason why BE300 wafer should not be placed Dec/Jan before alleged Mine theft. I would want to hear real explanation to this question.
If there is no good answer I may assume that all of the events as AMHash failure, BE300 and no idea now are not a coincidence but an exit strategy
I believe one of the reasons that still now there is virtually no transparency is the bolded part. They want more sucker money without disclosing much at all seemingly because they don't want to invest themselves, or they want a sweet priority deal leaving the rest of the investors with scraps.
Are there enough gullible suckers in the community to put a bitcent more without transparency? Maybe.
March 15, 2015, 09:18:30 AM
It is a gamble but from my own point of view I would consider investing my AMhash shares and some more in BE300 if all of the conditions were met:
1 there is clear and pubic plan from sample to chip/device with mile stones on the time line.
2 there is a clear structure of management
3 There is a person on the board who communicates with non-chinese investors
4 there are simple business continuity risk polices in place
providing that test of the sample where close to be as good as announced some time ago. With chips doing 0.2 J/ghs, or even 0.35 there is a larger window than it was with BE200.
but it is a dream, the same as might appear in the head of a person who still can see but already been beheaded. Asic Miner seems to have no assets, little bit of cash and bunch of greedy managers. They have fired line stuff, have no money, no idea, no leadership and to top it up feel very little bit of responsibility. They have personal packed wallets but can not trust themselves and invest in OWN company, but at the same time hope that someone else will do.
Regarding 1000 usd target btc/usd it is just FUBAR. We reached moment when btc price is dictated mostly by one factor - electricity cost, other are just a fluctuation from demand. Just look at Bitmain's reaction to AM failure. Most of us know that there will be no large deployments in near future. BF is far away from wafer order, AM we know, Bitman has got to sell off existing stock (which already is on). Difficulty will not rise that rapidly in next few months there will be swings down to xrate of btc.
So there is no reason why BE300 wafer should not be placed Dec/Jan before alleged Mine theft. I would want to hear real explanation to this question.
If there is no good answer I may assume that all of the events as AMHash failure, BE300 and no idea now are not a coincidence but an exit strategy
1 there is clear and pubic plan from sample to chip/device with mile stones on the time line.
2 there is a clear structure of management
3 There is a person on the board who communicates with non-chinese investors
4 there are simple business continuity risk polices in place
providing that test of the sample where close to be as good as announced some time ago. With chips doing 0.2 J/ghs, or even 0.35 there is a larger window than it was with BE200.
but it is a dream, the same as might appear in the head of a person who still can see but already been beheaded. Asic Miner seems to have no assets, little bit of cash and bunch of greedy managers. They have fired line stuff, have no money, no idea, no leadership and to top it up feel very little bit of responsibility. They have personal packed wallets but can not trust themselves and invest in OWN company, but at the same time hope that someone else will do.
Regarding 1000 usd target btc/usd it is just FUBAR. We reached moment when btc price is dictated mostly by one factor - electricity cost, other are just a fluctuation from demand. Just look at Bitmain's reaction to AM failure. Most of us know that there will be no large deployments in near future. BF is far away from wafer order, AM we know, Bitman has got to sell off existing stock (which already is on). Difficulty will not rise that rapidly in next few months there will be swings down to xrate of btc.
So there is no reason why BE300 wafer should not be placed Dec/Jan before alleged Mine theft. I would want to hear real explanation to this question.
If there is no good answer I may assume that all of the events as AMHash failure, BE300 and no idea now are not a coincidence but an exit strategy
Agree with all points. If FC/owners didn't plan on "disappearing" thee would have been no reason not to place the wafer order. Even if using all available funds for wafers (even mining funds and AMhash payouts) AM would have been in a far better state than today considering wafer orders for 28nm aren't that expensive anymore.
March 15, 2015, 09:08:53 AM
So to sum it up: asicminer doesn't give shit unless they go to jail or are seriously hunted? Also what do you mean by volunteering? FC is not indebted to us, ASICMINER is indebted to us. Your company is over no matter what happens - after such fiasco there is no coming back whatever you do, but if you have at least some dignity refund your customers you stole from and leave this business, you caused enough damage already, you should be ashamed of yourselves scammers, you are a disgrace to human beings
+1
March 15, 2015, 08:51:22 AM
It is a gamble but from my own point of view I would consider investing my AMhash shares and some more in BE300 if all of the conditions were met:
1 there is clear and pubic plan from sample to chip/device with mile stones on the time line.
2 there is a clear structure of management
3 There is a person on the board who communicates with non-chinese investors
4 there are simple business continuity risk polices in place
providing that test of the sample where close to be as good as announced some time ago. With chips doing 0.2 J/ghs, or even 0.35 there is a larger window than it was with BE200.
but it is a dream, the same as might appear in the head of a person who still can see but already been beheaded. Asic Miner seems to have no assets, little bit of cash and bunch of greedy managers. They have fired line stuff, have no money, no idea, no leadership and to top it up feel very little bit of responsibility. They have personal packed wallets but can not trust themselves and invest in OWN company, but at the same time hope that someone else will do.
Regarding 1000 usd target btc/usd it is just FUBAR. We reached moment when btc price is dictated mostly by one factor - electricity cost, other are just a fluctuation from demand. Just look at Bitmain's reaction to AM failure. Most of us know that there will be no large deployments in near future. BF is far away from wafer order, AM we know, Bitman has got to sell off existing stock (which already is on). Difficulty will not rise that rapidly in next few months there will be swings down to xrate of btc.
So there is no reason why BE300 wafer should not be placed Dec/Jan before alleged Mine theft. I would want to hear real explanation to this question.
If there is no good answer I may assume that all of the events as AMHash failure, BE300 and no idea now are not a coincidence but an exit strategy
1 there is clear and pubic plan from sample to chip/device with mile stones on the time line.
2 there is a clear structure of management
3 There is a person on the board who communicates with non-chinese investors
4 there are simple business continuity risk polices in place
providing that test of the sample where close to be as good as announced some time ago. With chips doing 0.2 J/ghs, or even 0.35 there is a larger window than it was with BE200.
but it is a dream, the same as might appear in the head of a person who still can see but already been beheaded. Asic Miner seems to have no assets, little bit of cash and bunch of greedy managers. They have fired line stuff, have no money, no idea, no leadership and to top it up feel very little bit of responsibility. They have personal packed wallets but can not trust themselves and invest in OWN company, but at the same time hope that someone else will do.
Regarding 1000 usd target btc/usd it is just FUBAR. We reached moment when btc price is dictated mostly by one factor - electricity cost, other are just a fluctuation from demand. Just look at Bitmain's reaction to AM failure. Most of us know that there will be no large deployments in near future. BF is far away from wafer order, AM we know, Bitman has got to sell off existing stock (which already is on). Difficulty will not rise that rapidly in next few months there will be swings down to xrate of btc.
So there is no reason why BE300 wafer should not be placed Dec/Jan before alleged Mine theft. I would want to hear real explanation to this question.
If there is no good answer I may assume that all of the events as AMHash failure, BE300 and no idea now are not a coincidence but an exit strategy
March 15, 2015, 07:49:23 AM
If they have a functional and competitive chip why not go with pre-orders like every other mining devices selling company, if they get enough money/orders they could make the chips.
Has this been discussed already?
nobody would buy from them... Their company is a complete mess. Has this been discussed already?
March 15, 2015, 07:31:05 AM
If they have a functional and competitive chip why not go with pre-orders like every other mining devices selling company, if they get enough money/orders they could make the chips.
Has this been discussed already?
Has this been discussed already?
Actually I find it strange that everyone is ignoring the fact that FC didn't place a wafer order before his disappearance. He was supposed to have chips in hand in February so the order was supposed to be placed in December or early January. This never happened, yet nobody is complaining about this. If we ignore all the recent facts the problem is still there. They never intended to have miners with BE300 chip. Not on this financial situation.
Would the decision to produce the BE300 have been lucrative. Would it have been competitive? Would AM have been able to produce profitable miners? If not, there was no point in sinking the sizeable sums of money into the venture. We already know the fate of the BE200...
I'm actually pretty convinced that they could raise funds this way. AM has never failed to deliver a device once chips were confirmed as functional. Pretty sure they could sell $10 million in hardware preorders for equipment for delivery in June if they had management team and could prove functionality of the chip. Production runs for 28nm grow on trees.
You also believed that they will sell or deploy all the 60Ph/s worth of BE200 chips right?
AM clearly wanted to sell or deploy 60 PH and they tried. Chip sales did not go well so they produced the AMtube. The AMTube wasn't efficient enough so they produced the Prisma which consumed twice the number of BE200 chips and ultimately itself through immolation which led to wholesale replacement of the units with the Prisma 2.0 and or refunds. It didn't go as planned so they stopped while there was still sufficient funding to pursue the next generation; presumably the BE300.. (see above, lather, rinse, repeat)
You seem to believe that AM made baseless claims. They had goals that were quite simply not realized even though the effort was put forth.
March 15, 2015, 06:18:18 AM
At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.
It would still be fairly expensive even at 0.013 5000 shares is 65 BTC
@ 300 USD = $19,500
At 0.013 its half tempting to pick up 5k chares through Havelock just to be able to demand direct info from the board and Dave.
It was a nice dream while it lasted, with a honeymoon period and then a slow then steady decline
Obligatory depression post:
5000 shares at the peak of AM = 30,000 BTC+ @ that times BTC price = $150 BTC) = 4.5 million
Today: $18k and change.
Keep in mind the market would not have absorbed 5000 shares at the peak price. Anyone know the liquidity/slippage back when it was 5BTC or so a share?
5 BTC was not the peak, over 10k shares traded hands between 5-7 BTC (I believe right around 7 was the peak) and that was only on BTCT not including private deals.
March 15, 2015, 05:15:10 AM
If they have a functional and competitive chip why not go with pre-orders like every other mining devices selling company, if they get enough money/orders they could make the chips.
Has this been discussed already?
Has this been discussed already?
Actually I find it strange that everyone is ignoring the fact that FC didn't place a wafer order before his disappearance. He was supposed to have chips in hand in February so the order was supposed to be placed in December or early January. This never happened, yet nobody is complaining about this. If we ignore all the recent facts the problem is still there. They never intended to have miners with BE300 chip. Not on this financial situation.
I'm actually pretty convinced that they could raise funds this way. AM has never failed to deliver a device once chips were confirmed as functional. Pretty sure they could sell $10 million in hardware preorders for equipment for delivery in June if they had management team and could prove functionality of the chip. Production runs for 28nm grow on trees.
You also believed that they will sell or deploy all the 60Ph/s worth of BE200 chips right?
March 15, 2015, 04:58:08 AM
Step 1: Disappear and stop paying dividends intentionally cause your share price to plummet.
Step 2: Buy up lots of shares through sockpuppets for pennies.
Step 3: Come back and offer some excuse for your disappearance. Pay all dividends.
Step 4: Announce new products and business plan. Share price skyrockets.
Step 5a: If your new products are mostly hype, sell shares acquired through sockpuppets at 10x+ profit
Step 5b: If your new products are real, keep the shares and profit from your increased ownership acquired for nearly nothing.
This plan is much better than just stealing the money. Much lower chance of getting in trouble with the police, but still a great profit potential. Remember, he's from a country where people are executed for serious financial crimes. He could run away, sure. It's a gamble. I've never owned AM shares but I'm buying some now just in case he is making the smarter move.
that is pure wishful thinking...
No, I understand the chances are low. I simply want to make a small gamble that he comes back (because there are some sensible reasons to do so). The chance of the bet working out is probably not very high. The reward if it does work out will likely be very high.
March 15, 2015, 04:50:11 AM
Step 1: Disappear and stop paying dividends intentionally cause your share price to plummet.
Step 2: Buy up lots of shares through sockpuppets for pennies.
Step 3: Come back and offer some excuse for your disappearance. Pay all dividends.
Step 4: Announce new products and business plan. Share price skyrockets.
Step 5a: If your new products are mostly hype, sell shares acquired through sockpuppets at 10x+ profit
Step 5b: If your new products are real, keep the shares and profit from your increased ownership acquired for nearly nothing.
This plan is much better than just stealing the money. Much lower chance of getting in trouble with the police, but still a great profit potential. Remember, he's from a country where people are executed for serious financial crimes. He could run away, sure. It's a gamble. I've never owned AM shares but I'm buying some now just in case he is making the smarter move.
that is pure wishful thinking...
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