ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 786.

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: shawshankinmate37927 on August 18, 2013, 10:39:20 AM

It would help if friedcat could specify what he considers "excessive hashing power". Otherwise, we are left guessing exactly what that means. When this statement was first released, I assumed he was referring to new mining equipment that was not even online yet. All I'm asking for is that a little more information be provided when communicating with shareholders so they don't get spooked as the network hashrate continues to rise exponentially.

I think it's a fair request to get an update from FC concerning the mining operation. We're long overdue for some info on that part of the business.

shawshankinmate37927

hero member

Activity: 854

Merit: 1000

Bitcoin: The People's Bailout

Quote from: ?? on ??

I will link this once again: https://bitcointalksearch.org/topic/m.2788821 and highlight this:

Quote

We will rent the excessive hashing power to financial and technical capable people, accepting full deposits at the market price, shipping the devices and collecting a certain PPS rate based on the theoretical hashrate. The PPS rate, the dividing of cost coverage, as well as warranty/exit strategy are being discussed in detail and executed as small-scale experiments.

This means that even if the hasrate we can see is lower, it doesn't mean that asicminer power on the network is decreasing.

It would help if friedcat could specify what he considers "excessive hashing power". Otherwise, we are left guessing exactly what that means. When this statement was first released, I assumed he was referring to new mining equipment that was not even online yet. All I'm asking for is that a little more information be provided when communicating with shareholders so they don't get spooked as the network hashrate continues to rise exponentially.

VolanicEruptor

sr. member

Activity: 392

Merit: 250

This means that even if the hasrate we can see is lower, it doesn't mean that their ~~power on the network~~ revenue is decreasing.

shawshankinmate37927

hero member

Activity: 854

Merit: 1000

Bitcoin: The People's Bailout

Quote from: btcbot on August 18, 2013, 06:07:03 AM

Quote from: ex-trader on August 18, 2013, 06:02:49 AM

Quote from: btcbot on August 18, 2013, 04:15:15 AM

You've made some good points, but the relentlessness of your arguing belies a need to rationalize your decision to sell AM.

It's important to have two sets of opinions, but there are three key questions for the bulls of AM:

1. Where are long-promised financial statements? They should take about 1 day for a competent person to complete, yet months have passed.

2. Why is AM only holding circa 10% of hash-rate?

3. What are the transaction fees earned that so many people are holding as being the holy grail for valuations?

Have these been added to TAT's list already?

About #2, I'm not sure we need to hear the moment by moment excuses for the ongoing problems, setup and deployment issues, etc. of mining operations.

AM's hash rate has been steadily dropping both in nominal and real terms for about a week now. I'm not interested in excuses, but an explanation would be nice. It would also be nice to hear a little bit more about how they perceive the competition and how they plan to maintain a consistent percentage of the total network hash rate going forward. That way shareholders can make a more informed decision regarding the viability of AM's strategy.

Birdy

sr. member

Activity: 364

Merit: 250

Quote from: velacreations on August 18, 2013, 08:35:41 AM

Quote from: Birdy on August 18, 2013, 08:25:35 AM

Yes, but some of those people who get 100 shares cheaper may decide to throw them on btct.co.
Difficult to tell without knowing the actual sale price though.

yeah, that may happen, but it will take several days (at best) to transfer any shares to the exchange. So, we'll likely not see major dumps like that until after the dividend boost.

Unless those people already have shares on btct.co, then they can sell immediately.
I did this kind of abirtrage one time, works fine.

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: Birdy on August 18, 2013, 08:25:35 AM

Yes, but some of those people who get 100 shares cheaper may decide to throw them on btct.co.
Difficult to tell without knowing the actual sale price though.

yeah, that may happen, but it will take several days (at best) to transfer any shares to the exchange. So, we'll likely not see major dumps like that until after the dividend boost.

Birdy

sr. member

Activity: 364

Merit: 250

Quote from: velacreations on August 18, 2013, 08:23:57 AM

price may slump a bit, but don't expect a big tank because of that auction. Like we've seen before, 100 share minimums exclude the majority of investors, and without a price, it's a moving target.

So, if you are going to buy 100 shares of AM, then you can probably get them cheaper from him than on the open market, but if you are buying 99, you gotta stick to the markets.

Yes, but some of those people who get 100 shares cheaper may decide to throw them on btct.co.
Difficult to tell without knowing the actual sale price though.

velacreations

sr. member

Activity: 476

Merit: 250

price may slump a bit, but don't expect a big tank because of that auction. Like we've seen before, 100 share minimums exclude the majority of investors, and without a price, it's a moving target.

So, if you are going to buy 100 shares of AM, then you can probably get them cheaper from him than on the open market, but if you are buying 99, you gotta stick to the markets.

hammurabi

full member

Activity: 223

Merit: 100

At first I was thinking that Vycid was waiting for price to go down to pick up some shares. Waiting, waiting, waiting.. is boring so it looked like pushing down or something.

But now I realize he is most bullish of your all !!
He ignites all of you. Intentionally bring incorrect numbers (like 20% instead of 10%) or unlikely scenarios with shares just to hear you cry out loud that he is so wrong

And If bear is loudly wrong then... ? :DD

Birdy

sr. member

Activity: 364

Merit: 250

Price is probably gonna tank a bit. It could reverse with the next dividends.

101111

hero member

Activity: 525

Merit: 500

Reality check: law of supply and demand - price will fall.

Lauda

legendary

Activity: 2674

Merit: 3000

Terminated.

Yeah, a lot of shares, but since he didn't set a price on them, the market should be fine or shouldn't take a lot of damage. (price going down)

aahzmundus

hero member

Activity: 644

Merit: 500

Invest & Earn: https://cloudthink.io

Interesting... although without a set price it's not really a wall. Wise to not set one so he can move with the market.

Lauda

legendary

Activity: 2674

Merit: 3000

Terminated.

Quote from: bobboooiie on August 18, 2013, 06:38:55 AM

https://bitcointalksearch.org/topic/auction-3559-asicminer-shares-direct-276891

Well this will probably freeze or even hit share price pretty hard, but then again blade sales dividend craze might eat that wall pretty quickly if he provides good discount for big buyers

Wow so many shares. You're right about that.

bobboooiie

hero member

Activity: 656

Merit: 500

https://bitcointalksearch.org/topic/auction-3559-asicminer-shares-direct-276891

Well this will probably freeze or even hit share price pretty hard, but then again blade sales dividend craze might eat that wall pretty quickly if he provides good discount for big buyers

Fabrizio89

hero member

Activity: 924

Merit: 1000

Quote from: ex-trader on August 18, 2013, 06:02:49 AM

Quote from: btcbot on August 18, 2013, 04:15:15 AM

You've made some good points, but the relentlessness of your arguing belies a need to rationalize your decision to sell AM.

It's important to have two sets of opinions, but there are three key questions for the bulls of AM:

1. Where are long-promised financial statements? They should take about 1 day for a competent person to complete, yet months have passed.

2. Why is AM only holding circa 10% of hash-rate?

3. What are the transaction fees earned that so many people are holding as being the holy grail for valuations?

1. https://bitcointalksearch.org/topic/m.2788821
2. This was the objective since the beginning.
3. Why are you holding bitcoins and investing in a mining venture if you don't understand the basics of the system?

btcbot

full member

Activity: 151

Merit: 105

Quote from: ex-trader on August 18, 2013, 06:02:49 AM

Quote from: btcbot on August 18, 2013, 04:15:15 AM

You've made some good points, but the relentlessness of your arguing belies a need to rationalize your decision to sell AM.

It's important to have two sets of opinions, but there are three key questions for the bulls of AM:

1. Where are long-promised financial statements? They should take about 1 day for a competent person to complete, yet months have passed.

2. Why is AM only holding circa 10% of hash-rate?

3. What are the transaction fees earned that so many people are holding as being the holy grail for valuations?

Have these been added to TAT's list already?

About #2, I'm not sure we need to hear the moment by moment excuses for the ongoing problems, setup and deployment issues, etc. of mining operations.

ex-trader

sr. member

Activity: 298

Merit: 250

Quote from: btcbot on August 18, 2013, 04:15:15 AM

You've made some good points, but the relentlessness of your arguing belies a need to rationalize your decision to sell AM.

It's important to have two sets of opinions, but there are three key questions for the bulls of AM:

1. Where are long-promised financial statements? They should take about 1 day for a competent person to complete, yet months have passed.

2. Why is AM only holding circa 10% of hash-rate?

3. What are the transaction fees earned that so many people are holding as being the holy grail for valuations?

Mausini

full member

Activity: 177

Merit: 100

Quote from: Vycid on August 18, 2013, 03:59:12 AM

Quote from: Mausini on August 18, 2013, 03:27:27 AM

Quote from: Vycid on August 17, 2013, 11:39:27 PM

Quote from: velacreations on August 17, 2013, 11:36:13 PM

Quote from: Vycid on August 17, 2013, 11:28:36 PM

Quote from: velacreations on August 17, 2013, 11:25:33 PM

Quote from: Vycid on August 17, 2013, 11:24:19 PM

So now suddenly Friedcat is an idiot? Of course he wouldn't do it all at once...

oh, right, so now burnside is an idiot and would ignore magical shares in his account?

I'm still not clear on how Burnside would know they're magical. Isn't Friedcat the one who verifies them?

no, that's what I am trying to tell you. FC handles direct shares. To convert direct shares to an exchange, basically FC puts shares into burnsides name, then sends a message to burnside saying the shares have been transferred. Burnside then enters those shares into his site software and attaches them to the correct username.

For your scheme to work, both burnside and FC have to be in on it (or alternative PT operator).

... Uhhhhh... So, FC makes up some direct shares that don't exist, tells burnside they're legit shares belonging to some made-up usernames (which FC controls, of course) ...

...

I must be pretty dumb, because I'm not seeing the difficulty.

yes you are pretty dumb. please stop spamming this thread with your stupid, irrelevant speculations!

Irrelevant? Gee whiz fellas, you forgot the "bullish sentiments only" sign!

So be it. I obviously have no cohesive argument for my bearish sentiment, and I should get out of the way to make space for all the honest folks who have nothing riding on their bullish sentiment.

All you guys need now is some Viton o-rings for this spaceship.

now I see where you are coming from! what if friedcat builds a spaceship?

btcbot

full member

Activity: 151

Merit: 105

Quote from: Vycid on August 18, 2013, 03:59:12 AM

Quote from: Mausini on August 18, 2013, 03:27:27 AM

Quote from: Vycid on August 17, 2013, 11:39:27 PM

Quote from: velacreations on August 17, 2013, 11:36:13 PM

Quote from: Vycid on August 17, 2013, 11:28:36 PM

Quote from: velacreations on August 17, 2013, 11:25:33 PM

Quote from: Vycid on August 17, 2013, 11:24:19 PM

So now suddenly Friedcat is an idiot? Of course he wouldn't do it all at once...

oh, right, so now burnside is an idiot and would ignore magical shares in his account?

I'm still not clear on how Burnside would know they're magical. Isn't Friedcat the one who verifies them?

no, that's what I am trying to tell you. FC handles direct shares. To convert direct shares to an exchange, basically FC puts shares into burnsides name, then sends a message to burnside saying the shares have been transferred. Burnside then enters those shares into his site software and attaches them to the correct username.

For your scheme to work, both burnside and FC have to be in on it (or alternative PT operator).

... Uhhhhh... So, FC makes up some direct shares that don't exist, tells burnside they're legit shares belonging to some made-up usernames (which FC controls, of course) ...

...

I must be pretty dumb, because I'm not seeing the difficulty.

yes you are pretty dumb. please stop spamming this thread with your stupid, irrelevant speculations!

Irrelevant? Gee whiz fellas, you forgot the "bullish sentiments only" sign!

So be it. I obviously have no cohesive argument for my bearish sentiment, and I should get out of the way to make space for all the honest folks who have nothing riding on their bullish sentiment.

All you guys need now is some Viton o-rings for this spaceship.

You've made some good points, but the relentlessness of your arguing belies a need to rationalize your decision to sell AM. Please moderate your tone... or even better... go away for a while until you can rid yourself of this compulsive need to repeat yourself.

Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 786. (Read 3917635 times)