ASICMINER: Entering the Future of ASIC Mining by Inventing It

[rohit176]

My hypothetical vision of the most valuable company in Bitcoin-land is not just a mining company, but instead a company that really capitalizes on Bitcoin as a PLATFORM instead of a currency - for example, enabling USD->BTC->USD transactions for significantly less than credit card fees. Then we are talking about a company with the potential to be worth many billions USD, AND with the potential to create miner fees that will help synergistically fuel its mining business. Why sit around and wait for transaction fees that may not materialize before your competition erodes all your market share - why not create the infrastructure to make Bitcoin accessible to the wider market?

I also believe the biggest mistake friedcat made was not to build cars and sell them. Cars could well be sold for bitcoin (as a PLATFORM instead of a currency), you know. Billions of dollars!!! Many transaction fees! Synergistically fuel its mining business!

You just disqualified yourself. What are you smoking? Thank you for shutting up.

Gosh, I see how silly I am, now. I might as well have said "cars", since cars are obviously just as adjacent a market to bitcoin mining as a bitcoin exchange would be!

If you don't know what I mean by "platform", look up the difference between "bitcoin" and "Bitcoin".

I already didnt get what you mean with "growth". Does that have something to do with http://en.wikipedia.org/wiki/Superpower in combination with http://en.wikipedia.org/wiki/Alice_in_Wonderland? I suppose wonderland is the platform? You genius!

Use of electronic money and being able to transfer it has both it's pros and cons. Economic superpowers in the making, countries like India and China must take it seriously. I guess that the reason China doesn't allow its currency to appreciate.

[Gws24]

post deleted since it was in the wrong thread  

[newIndia]

I sold off the last of my holdings today at BTC0.098 for a sad loss, and based on what I've read from customers (not to mention what I've not read from friedcat&co. due to an utter lack of communication), I've set my expectations for lower future sales based on the current pricing strategy accordingly.

Should have waited, could have sold for 50% more. AM1 sits at 0.15BTC/share as we speak.

Seems he has made the correct decision. It is impossible to make profit with AsicMiner.

[RoadStress]

Blazedout419 I wanted to quote every answer that you got to point out that ALL the reasons listed aren't a business reason, but to what use? To get angry shareholders to throw shit at me?
Nobody doubted AM/FC integrity, yet everyone is hanging for it. The integrity has nothing to do with the business capabilities and decisions. I hope you spotted the same thing.

[OgNasty]

How does one go about transferring their ASICMINER shares to a new holder?  I PM'd friedcat, but I didn't know where else to start.

[Chris_Sabian]

How does one go about transferring their ASICMINER shares to a new holder?  I PM'd friedcat, but I didn't know where else to start.

This was during the summer so it probably is the same: 

PM friedcat with the new owner address with email address using a signed message from the direct share address.  Friedcat responds usually when dividends are paid-out or whenever he gets around to it.

The latest 'dividends' was suppose to help clear up some of the backlog of share transfers.

[elasticband]

http://www.coindesk.com/sec-bitcoin-exchange-60000-securities-violations/

[runam0k]

http://www.coindesk.com/sec-bitcoin-exchange-60000-securities-violations/

I suspect EB took a *lot* more than $60k in fees.

[nomnomnom]

How does one go about transferring their ASICMINER shares to a new holder?  I PM'd friedcat, but I didn't know where else to start.

Try via email, his forum account was not online since 28th november.
Look here: https://www.havelockinvestments.com/fund.php?symbol=AM1 for his gmail address (under: how to import direct shares).

[freedomno1]

http://www.coindesk.com/sec-bitcoin-exchange-60000-securities-violations/

Burnside was a good operator far less sketch than some other exchanges
Cough Bitfunder and Weexchange ...
It does make me wonder a bit more about havelock, I wouldn't worry about Mircea that Romanian can hold Her own (lol) and the guy that actually runs mpex has more than enough backups including his Tor one etc.

[silverfuture]

bids are piling up with about 50BTC vying for shares @ 0.1 or above on HI.

[kaizuki]

bids are piling up with about 50BTC vying for shares @ 0.1 or above on HI.

i think it must be friedcat said something,so quickly take a look,and nothing

[jjdub7]

http://www.coindesk.com/sec-bitcoin-exchange-60000-securities-violations/

I suspect EB took a *lot* more than $60k in fees.

Right, but with a lifetime ban from securities markets and an inflation rate that's about to ignite again...let's hope he kept it in bitcoin.  Burnside always came off a good dude; I always trusted him and BTC-TC.

Just to add to what I'd said yesterday - anyone remember when the AM share price erupted to over 0.30 over the summer on very, very thin news (the announcement of the open-sourcing of the Tubes, if I remember correctly)...someone controls the bots that have had ~100 share large orders on both the bid and ask books covering the spread this whole time.  After over a year of extremely volatile trading in the AM equity markets, I would guess that individual's quarterly profits would dwarf Havelock's annual revenues by at least an order of magnitude...

[explorer]

http://www.coindesk.com/sec-bitcoin-exchange-60000-securities-violations/

I suspect EB took a *lot* more than $60k in fees.

Right, but with a lifetime ban from securities markets and an inflation rate that's about to ignite again...let's hope he kept it in bitcoin.  Burnside always came off a good dude; I always trusted him and BTC-TC.

I believe it said 2 year ban... ?

[Blazed]

http://www.coindesk.com/sec-bitcoin-exchange-60000-securities-violations/

I suspect EB took a *lot* more than $60k in fees.

Right, but with a lifetime ban from securities markets and an inflation rate that's about to ignite again...let's hope he kept it in bitcoin.  Burnside always came off a good dude; I always trusted him and BTC-TC.

I believe it said 2 year ban... ?

That is how I read it 2 years only. What is up with price lately....seems to be rising! I assume everyone is prepping for gen 4 news?

[FUR11]

What is up with price lately....seems to be rising! I assume everyone is prepping for gen 4 news?

Yeah, it's crazy, isn't it? Initially I thought there was some announcement about gen 4 by FC or something, but it seems to be some independent buy. There has also been some thoughts it could've been someone manipulating the market by buying into his/her own bids, therefore luring people into buying more shares (his/her own shares at a higher price)

[Blazed]

What is up with price lately....seems to be rising! I assume everyone is prepping for gen 4 news?

Yeah, it's crazy, isn't it? Initially I thought there was some announcement about gen 4 by FC or something, but it seems to be some independent buy. There has also been some thoughts it could've been someone manipulating the market by buying into his/her own bids, therefore luring people into buying more shares (his/her own shares at a higher price)

Well that is definitely possible, and would not surprise me at all. I think that gen 4 is make or break for this company, and it it does turn out on spec they should stick to selling bulk chips.

[glendall]

http://www.coindesk.com/sec-bitcoin-exchange-60000-securities-violations/

Burnside was a good operator far less sketch than some other exchanges
Cough Bitfunder and Weexchange ...
It does make me wonder a bit more about havelock, I wouldn't worry about Mircea that Romanian can hold Her own (lol) and the guy that actually runs mpex has more than enough backups including his Tor one etc.

Jon Montroll, owner of weexchange was way past sketchy: the guy is a criminal. He stole over 5000 btc of his depositors money and absconded with a bunch of loans, never even giving an excuse. Hate this guy so much.

Burnsides SeC ruling worries me on Havelock's operating status. The SeC is basically the banking elites' monopoly enforcement agency , and have a global reach, so at least for American users there must be at least some reason for concern? The SEC is pretty much effectively above the law because they make the law on these matters, any threat to the Big Scam of the endless money machine their masters control will be quickly shutdown (its only the small scale of btc securities that have saved it so far
).

Regarding the recent share price increase (about 50% in the last few days, this is a big deal) I'm taking this as a very good sign regarding gen4, there is definitely some news that hasn't hit us yet. It could be just market manipulation, but I don't think so, because if there wasn't big news we haven't heard yet, then I think the guy with a few hundred shares would be too over exposed at .15 share price if there was no good foundation, because the price would quickly rebound to a more reasonably .10 and loose more money than gained IMHO.  I suppose it is possible its just one guy mostly buying and selling shares to himself...

[finlof]

Burnside was an American, so unless an American is running Havelock then there likely wont be much to worry about

[glendall]

As was saying, sec is not limited to US. And at the least they could block any American users from using Havelock, which I'm assuming is where a good chunk of the userbase is from.