I "stole" your signature Rampion, I agree with and it is important to spread the word if we think it is the proper way to handle the block size problem in the near future.
Sorry for the off-topic
Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 989. (Read 3917058 times)
Cool picture, infinite wine
I "stole" your signature Rampion, I agree with and it is important to spread the word if we think it is the proper way to handle the block size problem in the near future.
Sorry for the off-topic
I "stole" your signature Rampion, I agree with and it is important to spread the word if we think it is the proper way to handle the block size problem in the near future.
Sorry for the off-topic
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?
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.
ASICminer is indeed a breath of fresh air in the Bitcoin community. Professional folks, delivering as promised - ASIC BUSINESS DONE RIGHT.
CONGRATS TO FRIEDCAT AND TO ALL THE ASICMINER SHAREHOLDERS
the less promises our competitors fulfill, the better for us :-)
Eventually there will be a competitor that is more efficient and strategic than the current examples. AM has opportunity to seize, and I believe that they are fully aware of this, and how to seize it.
That's the thing that I find very odd and maybe even a little worrying about this mining business. AM seem to be totally unlike their current rivals. Some of the upstarts may still prove themselves, but at the moment they all seem amateurish by comparison. It won't last forever.
AM do not seem too cocky, of course, and I'm sure they remember what Andy Grove at Intel used to say about business - "Success breeds complacency. Complacency breeds failure. Only the paranoid survive." The current threats seem so obvious and appear to be well in hand, which makes me worry that there's something else coming that they have missed.
I like the company so much though I can't bring myself to sell any shares, though I suspect they may be somewhat overvalued. Absent a crystal ball, only time will tell.
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.
No offence, sorry for my wording. I didn't meant you personally said that, I wanted to point out how different the game will be and my hope that AM handles the next "fight" properly by taking competitors seriously. Anyway I do believe the competition from September/October will be much much harder as what it has been until now.
the less promises our competitors fulfill, the better for us :-)
Eventually there will be a competitor that is more efficient and strategic than the current examples. AM has opportunity to seize, and I believe that they are fully aware of this, and how to seize it.
the less promises our competitors fulfill, the better for us :-)
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.
Sort of; he did it last week as well
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.
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.
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.
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.
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
the estimates my company has come up with are still sound
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
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!
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
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?
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.
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
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...
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.
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.
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