ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 598.

shawshankinmate37927

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Bitcoin: The People's Bailout

Quote from: romerun on November 17, 2013, 03:31:30 PM

CUBE should meet roi in fiat since btc is going to the moon, it's for one of those ppl living in one of those countries having a hard time aquiring btc through exchanges, they better get one of these asics than holding on to fiat. well these ppl are 80%+ of earth population btw

Why would you measure ROI in fiat? Shouldn't ROI always be measured in BTC? (You don't have to use an exchange to acquire BTC. I've never used Mt. Gox, Bitstamp, or any of the other exchanges.)

romerun

legendary

Activity: 1078

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Bitcoin is new, makes sense to hodl.

CUBE should meet roi in fiat since btc is going to the moon, it's for one of those ppl living in one of those countries having a hard time aquiring btc through exchanges, they better get one of these asics than holding on to fiat. well these ppl are 80%+ of earth population btw

bitcoin.newsfeed

sr. member

Activity: 378

Merit: 250

Quote from: Alphi on November 17, 2013, 02:00:35 PM

this one reason why the share price tanked....

... and because we the shareholders don't have an update for alarming 6weeks, and we don't have a clue whats happening with this company and Friedcat.

Alphi

hero member

Activity: 798

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Quote from: dexX7 on November 17, 2013, 11:08:52 AM

Quote from: yxt on November 16, 2013, 05:25:41 AM

Quote

Block Erupter Cube

Speed: 30 Gh/s Guaranteed, 38.4 Gh/s theoretical when overclocked
Power Consumption: Approx. 200W, approx. 280W when overclocked
Compact, self-contained unit: 136mm x 153mm x 148mm

Efficient Cooling

Tubular structure built for airflow
Built-in 12cm fan, strong but quiet
Protection: The unit will be powered off in case of fan failure

Plug & Play

2 x PCIe 6 pin connectors for power supply
RJ45 socket for Ethernet connection
USB connection for debugging and firmware updates
Configuration through web page
Status LED indicating getwork/putwork activity

Powered by the World's first mining ASIC

Consists of six mini blades with 16 chips each
Speed of each chip can be monitored in web page
Overclocking just by one button click

Scalable

Extruded aluminum enclosure, rigid and tough
Multiple units can be slid together by 'tongue and groove' system
Accessories coming soon: adapter for server PSUs, cable converters, etc.

Source: http://www.wtcr.ca/catalog/product/bm-ambec-01

The promotion pictures look great.

And they have a similar high quality like the immersion cooling pictures.

this one reason why the share price tanked.... these devices arent even competative with what is already on the market.

I just got my 30GH miner from BFL a few months ago... its about the same size, only draws 130 watts average, only has one chip in it and its barely breaking even.. thank moses for the rise in BTC otherwise it would never have had a chance to break even..

I only paid $750 for it (yeah I was one of the early adopters that got screwed by BFL for a whole year)
if I had have spent that money on BTC and just sat on it then I would be a rich man today...

for 1.5 BTC, at the current hash growth rate, those Cubes wont be able to make their money back.

Kouye

sr. member

Activity: 336

Merit: 250

Cuddling, censored, unicorn-shaped troll.

Quote from: ?? on ??

I'm sure BFL sold half of its hardware because it looked good

Very wrong. BFL sold half its hardware because they didn't have the second half in stock.

ninjarobot

hero member

Activity: 761

Merit: 500

Mine Silent, Mine Deep

Very cool and well designed!

I'd buy one of these in a heartbeat if it came with upgraded ASICs (not buying any BE 100's anymore)

Small typo on the last slide: accessaries > accessories

dexX7

legendary

Activity: 1106

Merit: 1026

Quote from: yxt on November 16, 2013, 05:25:41 AM

Quote

Block Erupter Cube

Speed: 30 Gh/s Guaranteed, 38.4 Gh/s theoretical when overclocked
Power Consumption: Approx. 200W, approx. 280W when overclocked
Compact, self-contained unit: 136mm x 153mm x 148mm

Efficient Cooling

Tubular structure built for airflow
Built-in 12cm fan, strong but quiet
Protection: The unit will be powered off in case of fan failure

Plug & Play

2 x PCIe 6 pin connectors for power supply
RJ45 socket for Ethernet connection
USB connection for debugging and firmware updates
Configuration through web page
Status LED indicating getwork/putwork activity

Powered by the World's first mining ASIC

Consists of six mini blades with 16 chips each
Speed of each chip can be monitored in web page
Overclocking just by one button click

Scalable

Extruded aluminum enclosure, rigid and tough
Multiple units can be slid together by 'tongue and groove' system
Accessories coming soon: adapter for server PSUs, cable converters, etc.

Source: http://www.wtcr.ca/catalog/product/bm-ambec-01

The promotion pictures look great.

And they have a similar high quality like the immersion cooling pictures.

SebastianJu

legendary

Activity: 2674

Merit: 1083

Legendary Escrow Service - Tip Jar in Profile

Quote from: empoweoqwj on November 16, 2013, 10:13:12 PM

Quote from: spinner on November 15, 2013, 07:09:51 PM

Quote from: BitThink on November 14, 2013, 11:08:48 PM

Buying:

Each virtual stock will be bound with a bitcoin address for buying. To buy X shares with Y BTC each, please send X * Y + X * 0.00000001 BTC to the buying address. X cannot exceed 9999 and Y has to be dividable by 0.0001. For example, 10.00000100 represents to by 100 shares with 0.1 BTC each. The sending address is called 'buyer's address'.

This one-size-fits-all would not do for most stocks. They really should reserve 3 bits (8 Satoshis) for a protocol version. For instance the published protocol would be modified as follows: buy by sending X*Y + (8*X+V)*.00000001 where V is the version number 0-7. Y has to be divisible by 0.0008 instead.

Now you can have up 8 versions running at once (reasonably 4 to give yourself flexibility to evolve). Maybe some of them would not require you to send 100 BTC to sell your shares.

... but this really needs it's own thread ...

I don't think they are designing it for "most stocks" are they, just for ASICMINER ones.
People have said "why are they wasting their time on this sort of stuff?". I think its because they see the need for a reliable, automated way to transfer AM shares. Its a good use of time in my opinion even if it doesn't scale to be a "virtual share platform". I don't think that was ever the intent.

The question is if they waste time at all on this. I mean friedcat only needs to take a couple bitcoins, explain what he wants, pay a developer and done. Not really much time involved. But friedcat can save time later one when he dont have to shuffle shares around manually anymore.

empoweoqwj

hero member

Activity: 518

Merit: 500

Quote from: spinner on November 15, 2013, 07:09:51 PM

Quote from: BitThink on November 14, 2013, 11:08:48 PM

Buying:

Each virtual stock will be bound with a bitcoin address for buying. To buy X shares with Y BTC each, please send X * Y + X * 0.00000001 BTC to the buying address. X cannot exceed 9999 and Y has to be dividable by 0.0001. For example, 10.00000100 represents to by 100 shares with 0.1 BTC each. The sending address is called 'buyer's address'.

This one-size-fits-all would not do for most stocks. They really should reserve 3 bits (8 Satoshis) for a protocol version. For instance the published protocol would be modified as follows: buy by sending X*Y + (8*X+V)*.00000001 where V is the version number 0-7. Y has to be divisible by 0.0008 instead.

Now you can have up 8 versions running at once (reasonably 4 to give yourself flexibility to evolve). Maybe some of them would not require you to send 100 BTC to sell your shares.

... but this really needs it's own thread ...

I don't think they are designing it for "most stocks" are they, just for ASICMINER ones.
People have said "why are they wasting their time on this sort of stuff?". I think its because they see the need for a reliable, automated way to transfer AM shares. Its a good use of time in my opinion even if it doesn't scale to be a "virtual share platform". I don't think that was ever the intent.

spinner

newbie

Activity: 47

Merit: 0

Quote from: BitThink on November 14, 2013, 11:08:48 PM

Buying:

Each virtual stock will be bound with a bitcoin address for buying. To buy X shares with Y BTC each, please send X * Y + X * 0.00000001 BTC to the buying address. X cannot exceed 9999 and Y has to be dividable by 0.0001. For example, 10.00000100 represents to by 100 shares with 0.1 BTC each. The sending address is called 'buyer's address'.

This one-size-fits-all would not do for most stocks. They really should reserve 3 bits (8 Satoshis) for a protocol version. For instance the published protocol would be modified as follows: buy by sending X*Y + (8*X+V)*.00000001 where V is the version number 0-7. Y has to be divisible by 0.0008 instead.

Now you can have up 8 versions running at once (reasonably 4 to give yourself flexibility to evolve). Maybe some of them would not require you to send 100 BTC to sell your shares.

... but this really needs it's own thread ...

AMuppInTime

donator

Activity: 290

Merit: 250

Quote from: bitcoin.newsfeed on November 15, 2013, 03:49:25 PM

I think that this is created only for direct shares transfers between shareholders of ASICminer. It hasn't any other reasonable usage in my eyes. ASICminer wants to free themselves from nonstop updating some internal spreadsheet, from responsibility for transfers and from spamming Friedcat's PM inbox regarding share transfers. And also "automated payment system" for dividends will be working with this.

But we're talking about multimillion company here, so just hire one trustable person for handling that should solve this issues the same way.

We're talking about a multi million company because the system they support is distributed - so distributing / enabling transactions within the blockchain seem to make sense.
Also, we're talking about a multi million company. Putting one guy in charge of finances is disaster waiting to happen.
I look forward to the concept spreading to other areas too.

bitcoin.newsfeed

sr. member

Activity: 378

Merit: 250

Quote from: SebastianJu on November 15, 2013, 03:35:06 PM

How should a coin based exchange work faster without being risky? Its a solution to be independent. For users that want to own or sell shares, not high frequenzy trading. But its an advantage to have it.

I think that this is created only for direct shares transfers between shareholders of ASICminer. It hasn't any other reasonable usage in my eyes. ASICminer wants to free themselves from nonstop updating some internal spreadsheet, from responsibility for transfers and from spamming Friedcat's PM inbox regarding share transfers. And also "automated payment system" for dividends will be working with this.

But we're talking about multimillion company here, so just hire one trustable person for handling that should solve this issues the same way.

SebastianJu

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Legendary Escrow Service - Tip Jar in Profile

Quote from: BitThink on November 15, 2013, 01:05:47 AM

Some comments about the leaked document.

I think it is a very preliminary design and nothing impressive inside.

First, all the issuers addresses are kept in the OSE servers, so it is not a real decentralized socket exchange. There's nothing in the blockchain for others to verify the issuer's addresses and map addresses to the stocks.

Second, The seller has to send 100 BTC (although will be returned immediately) to sell his shares for 100BTC seems quite ridiculous to me.

Third, it takes one hour to execute an order seems really too long.

In short, if this one is genuine then it's a bad news.

How should a coin based exchange work faster without being risky? Its a solution to be independent. For users that want to own or sell shares, not high frequenzy trading. But its an advantage to have it.

limbaugh

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Quote from: houseofchill on November 15, 2013, 02:00:22 PM

Got my AM100 > AM1 shares in one day. Thank you, TAT!

I'm sure everyone here is thrilled for you! Spam less please.

houseofchill

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Activity: 110

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AMuppInTime

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Activity: 290

Merit: 250

Quote from: Chris_Sabian on November 15, 2013, 10:36:37 AM

Quote

When asked in the interview why he didn't cash out, he responded that if he sold out the shares, people who bought them would make him work for them. He would like to only work for himself.

This is perfectly reasonable for a businessman who believes in his product, himself, and the future of his company. If he would have sold out, that would be a bad sign that he thinks the money now is better than future growth later.

If he cashed out 5,000 shares in July at BTC5 each and then sold, he would have made ~$3.3 million - a very nice payday. His probably owns much more than 5,000 shares anyway. So risking millions now on possible future growth by not selling, makes it appear that he believes in himself. That is what I want in a CEO.

Bitfountain owns 200,000 shares. When he says work for himself, he means being the one in charge. Any founder/CEO wants to do that - he is doing it so far.

Chris_Sabian

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Quote

When asked in the interview why he didn't cash out, he responded that if he sold out the shares, people who bought them would make him work for them. He would like to only work for himself.

This is perfectly reasonable for a businessman who believes in his product, himself, and the future of his company. If he would have sold out, that would be a bad sign that he thinks the money now is better than future growth later.

If he cashed out 5,000 shares in July at BTC5 each and then sold, he would have made ~$3.3 million - a very nice payday. His probably owns much more than 5,000 shares anyway. So risking millions now on possible future growth by not selling, makes it appear that he believes in himself. That is what I want in a CEO.

VeeMiner

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Activity: 752

Merit: 500

bitcoin hodler

Quote from: jimmothy on November 15, 2013, 03:48:41 AM

No. Just no..

there have been so many exchange failures that I'm just really happy to have direct shares

jimmothy

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Activity: 770

Merit: 509

Quote from: Grinny on November 15, 2013, 03:17:03 AM

Quote from: ex-trader on November 15, 2013, 03:01:11 AM

Quote from: BitThink on November 15, 2013, 01:05:47 AM

In short, if this one is genuine then it's a bad news.

Seems like a poor solution to a problem that doesn't exist.

A blockchain based trading solution is cumbersome, complex and too slow. Might be usable for AMs own shares, but utterly useless for a real world platform, so no value to shareholder income.

It also fails to address the real issues with the existing platforms which is compliance with legal rules and proper vetting/validation of issuers to stop scams.

If you're still looking for a non-american future proof and legit place to host your IPO (that even has decent support!), maybe www.crypto-trade.com is the right place for you?!

They are located in Belize and operated by Esecurity SA from Thailand.
The interface is basically the same one that btct.co/ltc-global offered, but with the benefit of beeing a crypto-currency exchange AND an IPO hoster at once.
I think their fees are lower as well.. and there will be a 5-factor verification system to beware of scam IPOs.

Don't know much about ASICMINER's situation after the btct.co/ltc-global/bitfunder shutdown, but I'm sure neotrix (admin of CT) can help you somehow.
Hosting such a renown IPO would help CT to become more populare as well. So win/win situation for both parties.

No. Just no..

Grinny

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Activity: 390

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Quote from: ex-trader on November 15, 2013, 03:01:11 AM

Quote from: BitThink on November 15, 2013, 01:05:47 AM

In short, if this one is genuine then it's a bad news.

Seems like a poor solution to a problem that doesn't exist.

A blockchain based trading solution is cumbersome, complex and too slow. Might be usable for AMs own shares, but utterly useless for a real world platform, so no value to shareholder income.

It also fails to address the real issues with the existing platforms which is compliance with legal rules and proper vetting/validation of issuers to stop scams.

If you're still looking for a non-american future proof and legit place to host your IPO (that even has decent support!), maybe www.crypto-trade.com is the right place for you?!

They are located in Belize and operated by Esecurity SA from Thailand.
The interface is basically the same one that btct.co/ltc-global offered, but with the benefit of beeing a crypto-currency exchange AND an IPO hoster at once.
I think their fees are lower as well.. and there will be a 5-factor verification system to beware of scam IPOs.

Don't know much about ASICMINER's situation after the btct.co/ltc-global/bitfunder shutdown, but I'm sure neotrix (admin of CT) can help you somehow.
Hosting such a renown IPO would help CT to become more populare as well. So win/win situation for both parties.

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