ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 989.

PeterB

full member

Activity: 168

Merit: 100

Quote from: binaryFate on June 13, 2013, 08:20:55 AM

Quote from: PeterB on June 13, 2013, 08:13:47 AM

Quote from: binaryFate on June 13, 2013, 07:44:13 AM

Quote

but surely they will be much better than all available similar products in the market now.

Things are moving fast, and "available in the market now" may have little to do with what will be available in october.
KnC is supposed to deliver ships at 28nm for instance:
https://bitcointalksearch.org/topic/swedish-asic-miner-company-kncminercom-170332

The next gen is going to entirely re-shuffle the deck, I hope AM takes proper design decisions now to then remain a big actor, or better the leader as it is today.

"Supposed to deliver" are the key words here.

Let's not play with words. You cannot take decisions based on your assumptions that all competitors will fail to meet their promises. This is obvious that the landscape of technology available in october will be different than that of today.

? You say “don’t play with words,” and then put such absurd words in my mouth? I never suggested that ASICMiner should not plan for the future, difficulty increases or competitors’ actions. I was just pointing out that it is unclear what mining rigs will actually be deployed and which ASIC companies / products actually turn out to be legitimate. Obviously I agree the network hash rate will be much higher and there will be more competition, but it is not clear that competitors will fulfill their current promises.

Ozymandias

sr. member

Activity: 644

Merit: 250

Quote from: neilol on June 13, 2013, 08:32:44 AM

Friedcat bidding on adspace? Is this new?

https://bitcointalk.org/index.php?topic=229054.20

Sort of; he did it last week as well

neilol

sr. member

Activity: 302

Merit: 250

Friedcat bidding on adspace? Is this new?

https://bitcointalk.org/index.php?topic=229054.20

ianp

full member

Activity: 294

Merit: 100

Quote from: binaryFate on June 13, 2013, 08:20:55 AM

Quote from: PeterB on June 13, 2013, 08:13:47 AM

Quote from: binaryFate on June 13, 2013, 07:44:13 AM

Quote

but surely they will be much better than all available similar products in the market now.

Things are moving fast, and "available in the market now" may have little to do with what will be available in october.
KnC is supposed to deliver ships at 28nm for instance:
https://bitcointalksearch.org/topic/swedish-asic-miner-company-kncminercom-170332

The next gen is going to entirely re-shuffle the deck, I hope AM takes proper design decisions now to then remain a big actor, or better the leader as it is today.

"Supposed to deliver" are the key words here.

Let's not play with words. You cannot take decisions based on your assumptions that all competitors will fail to meet their promises. This is obvious that the landscape of technology available in october will be different than that of today.

In other words -- if you treat every threat as a ... threat, you'll be in better shape.

I'm excited to learn more about Gen 2 when the information becomes available.

binaryFate

legendary

Activity: 1512

Merit: 1012

Still wild and free

Quote from: PeterB on June 13, 2013, 08:13:47 AM

Quote from: binaryFate on June 13, 2013, 07:44:13 AM

Quote

but surely they will be much better than all available similar products in the market now.

Things are moving fast, and "available in the market now" may have little to do with what will be available in october.
KnC is supposed to deliver ships at 28nm for instance:
https://bitcointalksearch.org/topic/swedish-asic-miner-company-kncminercom-170332

The next gen is going to entirely re-shuffle the deck, I hope AM takes proper design decisions now to then remain a big actor, or better the leader as it is today.

"Supposed to deliver" are the key words here.

Let's not play with words. You cannot take decisions based on your assumptions that all competitors will fail to meet their promises. This is obvious that the landscape of technology available in october will be different than that of today.

PeterB

full member

Activity: 168

Merit: 100

Quote from: binaryFate on June 13, 2013, 07:44:13 AM

Quote

but surely they will be much better than all available similar products in the market now.

Things are moving fast, and "available in the market now" may have little to do with what will be available in october.
KnC is supposed to deliver ships at 28nm for instance:
https://bitcointalksearch.org/topic/swedish-asic-miner-company-kncminercom-170332

The next gen is going to entirely re-shuffle the deck, I hope AM takes proper design decisions now to then remain a big actor, or better the leader as it is today.

"Supposed to deliver" are the key words here.

binaryFate

legendary

Activity: 1512

Merit: 1012

Still wild and free

Quote

but surely they will be much better than all available similar products in the market now.

Things are moving fast, and "available in the market now" may have little to do with what will be available in october.
KnC is supposed to deliver ships at 28nm for instance:
https://bitcointalksearch.org/topic/swedish-asic-miner-company-kncminercom-170332

The next gen is going to entirely re-shuffle the deck, I hope AM takes proper design decisions now to then remain a big actor, or better the leader as it is today.

stslimited

hero member

Activity: 546

Merit: 500

glad that 2.50btc wall is gone. It took a while to sell those shares and psychologically I had forgotten about that auction and was wondering why the price was stuck there, I started thinking about dubious things like "efficient market theory" and other unsubstantiated things, as if 2.50 btc was a consensus driven midpoint price between people thinking AM would be 1.70 btc and people thinking AM would be 5 btc/share

the estimates my company has come up with are still sound

joele

legendary

Activity: 1022

Merit: 1000

Quote

OFFICIAL RESPONSE FROM FRIEDCAT

Hi ThickAsThieves,

1. They will arrive at October as their earliest. The specs are unknown (only simulation results at this moment), but surely they will be much better than all available similar products in the market now.

2. Cryptocurrencies or mining of virtual currencies are OK. Exchanging them for fiat is less OK but the legal risk is mostly on the exchange operators' side. However as everyone knows, the policy in China is never predictable so there is indeed risks in the future. We have been considering and coping with this uncertainty from the day our chips passed the test and are on the start of building offshore company structures.

3. The access to company wallet is backed up and we back up shareholder information frequently. Also the division of work in Bitfountain is not yet so refined that there are no replaceable positions. We have already left our startup stage so it's become more organized, therefore backup employees are becoming more important and in our range of plan.

Best regards,

friedcat

Awesome news! Now I have peace of mind even difficulty strike high mining still profitable with AM.

eltopo

full member

Activity: 230

Merit: 100

Quote from: eltopo on June 06, 2013, 03:20:23 AM

I tried myself to create a list with AM shareholders based on yesterday's dividends:

https://docs.google.com/spreadsheet/ccc?key=0AtqphFCP56ordGVCakJxSU90MlB4MlBkZENya25pS2c

I got > 398k of the 400k shares. If you find any errors please let me know!

Updated by dividend day 2013-06-12

JordanL

donator

Activity: 294

Merit: 250

Quote from: ThickAsThieves on June 13, 2013, 03:28:09 AM

Quote

Friedcat,

A team of us shareholders has taken the time to collect and simplify the most popular questions people have for you and ASICMINER. I am sending these questions to you at Jutarul's suggestion, and on behalf of all ASICMINER shareholders that took our poll.

I am only going to send 3 questions to you, in order to keep things simple, and to hopefully maintain this line of communication in the future. We understand that you might not be able to fully answer some things due to competition, but any amount of info will be plenty for us!

If you can take the time to answer, feel free to post your answers in your main ASICMINER thread, or respond to me directly and I will copy your answers verbatim.

Thank you so much for your consideration, here are the questions:

1. Can you tell us more about the next generation of ASIC chips? When should we expect them, and what specs might they achieve?

2. Does ASICMINER/Bitfountain have any legal risks by doing business in China? Are cryptocurrencies or mining of virtual currencies allowed there?

3. What contingency plan do you have in place if Friedcat or other important employees become seriously ill or otherwise unavailable as a resource to ASICMINER?

OFFICIAL RESPONSE FROM FRIEDCAT

Hi ThickAsThieves,

1. They will arrive at October as their earliest. The specs are unknown (only simulation results at this moment), but surely they will be much better than all available similar products in the market now.

2. Cryptocurrencies or mining of virtual currencies are OK. Exchanging them for fiat is less OK but the legal risk is mostly on the exchange operators' side. However as everyone knows, the policy in China is never predictable so there is indeed risks in the future. We have been considering and coping with this uncertainty from the day our chips passed the test and are on the start of building offshore company structures.

3. The access to company wallet is backed up and we back up shareholder information frequently. Also the division of work in Bitfountain is not yet so refined that there are no replaceable positions. We have already left our startup stage so it's become more organized, therefore backup employees are becoming more important and in our range of plan.

Best regards,

friedcat

Wow, awesome news. Thanks a lot friedcat, ThickAsThieves, and everyone else who helped with this.

freedomno1

legendary

Activity: 1834

Merit: 1094

Learning the troll avoidance button :)

Quote from: VeeMiner on June 13, 2013, 06:02:57 AM

Quote from: lophie on June 13, 2013, 03:37:48 AM

Quote

surely they will be much better than all available similar products in the market now.

and I think that includes the invisible ones as well, this is for all BFL shills.

great news, I'm sure this will bump up the share prices even futher up...

Well the wall at 2.5 burst so its anyone's guess where it goes from here
Considering the yield the estimates chart a few pages back makes a good range estimate

VeeMiner

hero member

Activity: 752

Merit: 500

bitcoin hodler

Quote from: lophie on June 13, 2013, 03:37:48 AM

Quote

surely they will be much better than all available similar products in the market now.

and I think that includes the invisible ones as well, this is for all BFL shills.

great news, I'm sure this will bump up the share prices even futher up...

ex-trader

sr. member

Activity: 298

Merit: 250

China will be unlikely to crackdown on ASIC fabrication, as they are quite happy to allow manufacture of goods for export, but they could possibly crackdown on Bitcoin usage and the operation of Bitcoin mining in China if they become threatened by Bitcoin usage.

Thats why my comment is that if there is a desire to create protection against this then ASICMiner needs to move both it's corporate structure outside China and the mining plants.

If you need assistance on this let me know, my main company is structured offshore and is based in Jersey, which is an offshore island centre near the United Kingdom and which operates a very robust legal, regulatory and control framework and is tax-free.

tinus42

hero member

Activity: 784

Merit: 501

Quote from: ex-trader on June 13, 2013, 04:27:50 AM

Quote from: Betatester on June 13, 2013, 03:38:44 AM

I think building offshore company structures outside China/US/EU spheres is vital.

Offshore company structures are one thing, where the physical plant is located is another.

If China were to crack down on the fabrication of mining equipment that would affect everyone.

Avalon also has their chips built in Shenzen and BFL's chips surely aren't Made in the USA^TM. Wink

It might even make mining with GPU's lucrative again if ASICMINER weren't around anymore and Avalon and BFL and all the other ASIC companies couldn't source their chips from China.

But I don't see that happening. So I'm not worried about it.

Betatester

member

Activity: 118

Merit: 10

Quote from: ex-trader on June 13, 2013, 04:27:50 AM

Quote from: Betatester on June 13, 2013, 03:38:44 AM

I think building offshore company structures outside China/US/EU spheres is vital.

Offshore company structures are one thing, where the physical plant is located is another.

I assumed this was implied.

ex-trader

sr. member

Activity: 298

Merit: 250

Quote from: Betatester on June 13, 2013, 03:38:44 AM

I think building offshore company structures outside China/US/EU spheres is vital.

Offshore company structures are one thing, where the physical plant is located is another.

ning

full member

Activity: 173

Merit: 100

Things that don't grow die eventually. I'm glad to see ASICMINER is growing well.

freedomno1

legendary

Activity: 1834

Merit: 1094

Learning the troll avoidance button :)

Glad to hear that they are building a great team, and they always impress.

Betatester

member

Activity: 118

Merit: 10

I think building offshore company structures outside China/US/EU spheres is vital.

Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 989. (Read 3917568 times)