Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 832. (Read 3917468 times)

Great news, cat.
Our company is doing really good.
Capital is growing and sales/mining income is huge comparing to costs.

Book value does not mean share value, it's just the value of the company's quantifiable assets.

Was just writing a post asking about period of Revenues/Expenses... but your post did it much better than mine would have .

A bit more detailed books would be appreciated if possible - monthly expenditures for instance

friedcat, this is a good update, thank you.

There are a few questions left unanswered. You mention revenue and expenses, but not the period. Is this from operation start last year?

You have also mentioned significant investments in July and investments in 2nd-gen chips. Where is this listed in the balance sheet? If they're not listed, are these costs accounted for elsewhere?

.b

By my calculations, book value is 0.0513 BTC / share

This is good, right?

Thank you, friedcat!

Finally we can stop discussing politics and ecology 

Hardware franchising.  How does that work?  Is it like equipment leasing?  If so, does the equipment eventual returns?  Because typical retail franchise, the operator primarily acquires usage of brand name - can't really draw a true parallel between the this franchising and retail franchise.

Nice!
Thanks for the update

love ya,

thanks for the update

Update

Financial Status

Mining Income: 102,041.82BTC
Blade Sales Income: 29,594.75BTC
USB Sales Income: 37,524.00BTC
Total: 169,520.57BTC

Device and Infrastructure Expense: 397,800.00$ + 4,909,930.00￥
Electricity Expense: 729,542.05￥
Labor Expense: 327,081.00￥
Logistics Expense: 132,184.90￥
Deposits: 117,506.01￥
Total: 397,800.00$+6,216,243.96￥

Balance Sheet: https://docs.google.com/spreadsheet/ccc?key=0Al1fvFT7Sd5bdEthNEpIWWxpcW90RFBQOFZ6aFlxT0E&usp=sharing

Hardware Franchising

This is a new business model option besides self-mining and hardware sales. 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 model is similar to hardware sales in the aspect that we do not have in control on how the users make use of our devices, therefore has more decentralization in spirit. And like with self-mining, it aims at settings in scale, enjoying the reduction of NRE cost and operating cost overall, and reducing potential marketing/advertisement/customer service costs.

Project Timeline

August-September: Deploy/sell all hashpower arriving in July and early August.
September-November: Deploy/sell the hashpower ordered at early July.
November-December: Experimental products of 2nd-gen chips and modular large-scale deployment solutions.

Its embarrassing, everyone's an expert on slavery and China now. And its got bugger all to do with AsicMiner. People work in China to feed their families, same as everyone else. Just they get paid less. If you wanna talk about real slavery, look what Europe did to almost the entire African continent, or how the US railroads were built. That was real slavery.

Calling Chinese factory workers slaves is just idiotic. I live in Thailand and farm workers get paid very little here for very hard hot work. Its not slavery. Its just a hard hard living. But  they choose to do it. It ain't slavery.

In the 19th century people worked even longer hours in the West. And their children did too. Then we got the labour movement. Which initially was crushed (Pinkerton agents shooting on strikers). But they won. In China the labour movement obviously didn't get any traction. Ironically as China is supposed to be a worker run state.

Stop the off-topic. All these comments apply to most of the companies that deal with electronic, so bring your discussion with you on a more general forum, but out of here.

Are you saying that the tyrannical government of China is forcing these people to work?

Voluntarily choosing to work doesn't mean that you love working. It means you prefer the benefits of working over what you would get if you do not work.

Not so sure about that. Sometimes you don't need lashes and chains to control slaves. You just have to push them into the right direction by the force of tyrannical governments.

It seems ASICMiner can't keep up with the increase in the rest of the network: http://runeks.dk/bitcoin/#week

You don't seem to know what a slave is. Voluntarily working 10 hours a day 6 days a week is not slavery.

Only us spoiled Westerners don't know the difference.

Ethics of the company are quite obviously on-topic.

And they are definitely more on-topic than global warming.

this thread has many time diverted from it's original topic. This is the furthest we've been so far I think. Please take this discussion elsewhere.

Calling that with other words won't make them happier.
We must face reality.
They're slaves, and we are a bit evil since we buy and use their products.