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Forge Coin is established to Host CryptoCurrency Miners in a country with cheap electricity rates.

We are rented a 300 Amp Facility in an industrial Zone with Good Air Conditioning.

You can have some stake as well!

Just buy ForgeCoin Assets (http://www.forgeco.in/about-forgecoin-asset/), in NXT Asset Exchange (https://wiki.nxtcrypto.org/wiki/Asset_Exchange) and start receiving dividends weekly.

For More information see the followings:

About ForgeCoin Assets (http://www.forgeco.in/about-forgecoin-asset/)
Buying ForgeCoin Assets (http://www.forgeco.in/buying-forge-coin-asset/)
Recieving ForgeCoin Dividends (http://www.forgeco.in/recieving-forgecoin-dividends/)
ForgeCoin News (http://www.forgeco.in/category/news/)

About ForgeCoin Asset:

NXT Asset Name: ForgeCoin

Asset ID: 5934798443252900551

Asset Description:

Electricity rate is one of most important costs of Mining, But What if you can mine at an electricity rate about $0.01/KWh?
ForgeCoin decided to help you to do so!
We have rented a Factory in an Industrial Zone of a country with Cheap electricity rates.
We have a Total capacity of 300Amp for the Moment.
Assuming 370W(1.7Amp) for each Slot(180 GH/s S1 or equivalent S2 or S3 Antminers) , we can host up to 175 Antminers in this location.
Each Slot will cost 0.85 0.81 0.7777 0.9 0.48 BTC including Local Custom fees, PSU, Installation)
30 Slots currently reserved by ourselves.
145 remaining Slots can be sold through Asset Exchange.
Mined funds will be paid weekly in BTC or NXT.
We will declare any costs clear in our website through the project.
3% Management cost will take place over any revenue through mining.
First month contributors had a %10 Discount because they trust us and risk their Money.
Each asset will cost 0.48 BTC now.

An ROI of 5 months can be estimated.

Additional information will publish in our website:

http://forgeco.in/ (http://forgeco.in/)

NXT Account ID:  NXT-7PHS-2VHM-U5WP-BTFZD

NXT Account Number: 10807998119924651512 (http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=10807998119924651512)

BTC Account: 1PqpXBRM5LgUT7X4zc3jZXUr7gAt5WhvTX (https://blockchain.info/address/1PqpXBRM5LgUT7X4zc3jZXUr7gAt5WhvTX)

For additional information about NXT Asset Exchange please visit here:

https://wiki.nxtcrypto.org/wiki/Asset_Exchange (https://wiki.nxtcrypto.org/wiki/Asset_Exchange)

Pictures or GO AWAY.

+1

You are right! I will update the factory pictures and S1 Stacks there Within several days.
Remember the early days Bitmain Announced Antminers! Trust takes time, but we decided to attract your trust!

First Batch Ordered:

We know that trusting us maybe hard!

But we decided to attract your trust, and that is why give %10 discount for first contributors.

And we try to update every action we take so that the community can trust us better.

We have sold 5.08 Assets till now so we have ordered 8 S1 Antminers as our first Batch Immediately after selling assets.

And here is our order confirmation from Bitmain:

http://www.forgeco.in/wp-content/uploads/2014/05/BITMAIN-page-001.jpg

Please click on the image for better resolution.

We will update pictures from factory also soon.

http://www.forgeco.in/first-batch-ordered/

8x Antminers S1? This will be your hosting facility, with "stacks of Antminers"? :)
8 Antminers I can squeeze them under my bed without yelling about it here and there. It's not even worth mentioning if you consider yourself as a professional.

So I will repeat - PICTURES OR GO AWAY. We are not giving anyone money in pre-orders without escrow.

My friend, I'm not here to run with your Money!
So, I accept escrow and cover it's cost as well! But the price with escrow is 0.85 BTC/slot.
I can accept 16x Antminer S1 escrow per 10 days.
I order them, Install them, and provide the Picture, Then you release.
I see that you are a big Antminer customer so it's my pleasure to partner with you.

You can also order and Host Antminers with us.

In this case we just Host your Antminer(S1 or S2) and provide electricity and Internet access to it and you do the Mining managment your self.

Please follow the following link to proceed to Antminer Hosting:

http://www.forgeco.in/clients/

At the end of contract Antminers can ship anywhere with costs covered with you according to local custom regulation.

You should not install any third party software on Antminers.

Thank you for clarification. I'll be watching this thread.

ForgeCoin Asset was Initially offered to public at the NXT price of 12500 NXT/ForgeCoin Asset.

As the price of NXT now more stabilized at about 7000 Satoshi/NXT now we amended our asset price to 11500 NXT/Asset.

The BTC Price will be 0.765/Asset until 15th Jun.

Also if the price of S1 Antminer reduced significantly we may change the BTC price as well.

First Batch ordered but is not shipped yet and we will update whenever it shipped.

 

PRICE OF NXT ASSET AMENDED

MAY 14, 2014

ForgeCoin Asset was Initially offered to public at the NXT price of 12500 NXT/ForgeCoin Asset.

As the price of NXT now more stabilized at about 7000 Satoshi/NXT now we amended our asset price to 11500 NXT/Asset.

The BTC Price will be 0.765/Asset until 15th Jun.

Also if the price of S1 Antminer reduced significantly we may change  the BTC price as well.

First Batch ordered but is not shipped yet and we will update whenever it shipped.

BATCH ONE SHIPPED, SECOND BATCH ORDERED

MAY 14, 2014

Batch one shipped from China This is the AWB:

http://www.dhl.com/content/g0/en/express/tracking.shtml?brand=DHL&AWB=3439623692%0D%0A

Also second batch of 4xS1 Antminers ordered.

Just to update that 8 Corsair PSU for First Batch is ordered and ready to ship to factory.

You can see their picture on the persian carpet below:

http://www.forgeco.in/wp-content/uploads/2014/05/%DB%B2%DB%B0%DB%B1%DB%B4%DB%B0%DB%B5%DB%B1%DB%B5_%DB%B0%DB%B9%DB%B3%DB%B6%DB%B4%DB%B8.jpg
8xPSU on Persian Carpet

Also 3rd Batch of 6xS1 Antminers ordered.

2nd Batch not shipped yet, First batch on it's way.

PRICE OF NXT ASSET AMENDED TO10.9K/ASSET AGAIN!

MAY 15, 2014

As the price of NXT now more stabilized at about 7000 Satoshi/NXT now we amended our asset price to 10900 NXT/Asset.

The BTC Price will be 0.765/Asset until 15th Jun if S1 Antminer price not changed significantly.

Get in your car, drive to facility, take photos of facilities. Make yourself in one of the photos and include a heavily watermarked (black out un-necessary details) of your passport/dl as well as some sort of contract for the lease and people may take this seriously.

I'm Back from facility and now see your post!
I'v got some pics from there and will update soon.
I hope people take this serious.

Do as I said and people will take you seriously.

Otherwise you are just another person waiting to screw everyone over.

I was at the Factory today. Everything going smooth. We have rented a suit in a factory that have 400 Amp, Three phase, Industrial power. We can use 300 Amp of it's capacity. Internet connection planned to be connect on Saturday. Cabling takes more time but we can start our first Stack with current cabling. I have got some pictures from Power station of Factory, Just behind the suit:

Power Station Panel
http://www.forgeco.in/wp-content/uploads/2014/05/%DB%B2%DB%B0%DB%B1%DB%B4%DB%B0%DB%B5%DB%B1%DB%B5_%DB%B1%DB%B4%DB%B4%DB%B1%DB%B2%DB%B8.jpg

Please pay attention to numbers:

400 Amp x 3 Panel
http://www.forgeco.in/wp-content/uploads/2014/05/400Ampx3.jpg

400 Amp Copper Blades  
http://www.forgeco.in/wp-content/uploads/2014/05/400A_Copper.jpg

Also pay attention to Copper Blades under the station! It's really huge! I don't know exactly we can use 3x300Amp simultaneously or not that will consult an expert to find out. By the way the current project assumed to use 300 Amp of it for 175 S1 Antminers and the current suit is enough for that. Also here is our first empty stack get ready for first Batch:

Empty Stack
http://www.forgeco.in/wp-content/uploads/2014/05/%DB%B2%DB%B0%DB%B1%DB%B4%DB%B0%DB%B5%DB%B1%DB%B5_%DB%B1%DB%B5%DB%B2%DB%B5%DB%B4%DB%B8.jpg

4 Antminers designed to locate on each Blade and 32 Antminers per stack. So, 6 Stacks will cover our current project. Huge Fans also prepared to conduct the hot air outside the suit. I estimate that we can have First stack mining on the facility on Monday and I can show you their Hash rate! I will take a video of that and showing ForgeCoin Logo Also in it.

Sorry I don't get exactly what you are saying.
See I don't want to open my exact name, my face and factory location and ..., So what you suggest?
I will do it!

You're essentially talking about hosting peoples hardware. They need to know name and face. Factory location does not need to be revealed however (and shouldn't be, for security reasons)

NEW BTC AND NXT ASSET PRICE!

MAY 17, 2014

As Bitmain decreased the S1 Antminers price we also decreasing our BTC and NXT Asset prices.

So the new BTC Price of ForgeCoin Asset is 0.81 BTC and for those apply before June 15 with %10 Discount, it will be 0.729BTC.

Also as the NXT/BTC rate is now stabilizing above 7500 Satoshi the new NXT Asset price is 9750 NXT/ForgeCoin Asset.

For sure, whoever signup faster receive more mining rewards.

I'm Sorry but I cannot show my face! I'm leaving in a country that I prefer not to do that!
But I will put what ever you need pictures and videos, Statuses, Screen Shots, Paying Dividends, to show that the system is actually exist and working! This is what I can and will do! And this is how this project can go forward in this country!

Hi all,

I can confirm that sepehr (author of this thread) just purchased 20 discount coupons for Antminer S1 from Bitmaintech. Looks like he is growing his mining farm :)

FIRST WEEK DIVIDENDS

MAY 19, 2014

As we have started our IPO on May 12th 2014, today we should pay our first week dividends, we hoped that we can receive first Batch yesterday so that we can release at least one day mining as first week dividends to our first week Investors. But unfortunately three problems happened that we have no dividends for the first week to pay:

First is that the first Batch is with custom delay and we should release it through agencies and that may take 2 or 3 days.

We are following this issue and hope that it release soon.

The second problem is that our internet connection in Factory is not connected yet. They promised us it will connect today and we hope so as well.

The third is that the required softwares for calculating and paying dividends is not ready yet. So even we had not the first and second problems and we had some dividends to share with our investors we could not do that. Because the required infrastructure have not implemented completely by NXT development teams yet. They are working hard to finish this and many thanks to jl777 for helping us in this issue.

Take a look at this thread in NXT Forum about this issue:

https://nxtforum.org/asset-exchange-62/must-have-scripts-for-asset-exchange-issuers/

We hope that Next week we can mine with at least 22x S1 Antminers and pay our Valued investors their Dividends and can fulfill our promises to you. Thanks a lot for your patients.

Thanks for your positive feedback and I hope to see you in our investors list soon :D.

OUR NEW NXT PRICE: FORGECOIN=8575 NXT

MAY 19, 2014

As the price of NXT now more stabilized at about 8500 Satoshi/NXT now we amended our asset price to 8575 NXT/Asset.

The BTC Price will be 0.729/Asset until 15th Jun if S1 Antminer price not changed significantly.

FIRST ANTMINER IS MINING AT FACTORY

MAY 19, 2014

Good news is that Internet connection is up at factory and first test Antminer is mining currently at factory for ForgeCoin!
Power cabling designed and scheduled to setup on Thursday, May 22nd.
From that point on we will have no problem to grow to full 300 Amp capacity.
We are just waiting for custom clearance of Batches 1 and 2 that is delayed for event clearance.
The agency is assigned to solve this unplanned issue.

FORGECOIN MINING ADDRESS

MAY 19, 2014

New Bitcoin Address generated for ForgeCoin Main Mining Account.

All mining revenues will accumulate in this account and every asset holder can assume himself a share of this account.

This account is a cold storage account and will have the most safety that we can supply.

All costs will deduct from this account and after that will divide to our Asset holders accounts.

Here is ForgeCoin Mining Address:

19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5 (https://blockchain.info/address/19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5)


BATCH 4 ORDERED

MAY 19, 2014

Batch 4 including 3xS1 Antminers ordered.
According to custom problems we should order with small amounts of miners in each batch.
We hope that we can solve custom delays in this way.

UPDATES FROM FORGECOIN

MAY 22, 2014

Now four S1 Antminers are mining for Forgecoin project.

We are using ghash.io for first pool and multipool.us for second. Please let us know any suggestion about this.

Two payments from ghash.io in our mining address:

19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5 (https://blockchain.info/address/19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5)

We have delay in clearing first 4 Batches from custom. We hope that we can solve this until next Sunday.

Batch 4 and Batch 5 are shipped yesterday.

Also as the price of NXT is swinging up and down we have amended the price of our asset again to 10400 NXT/ForgeCoin.

Power Cabling scheduled to setup on Friday. We will update it’s pictures soon.

New power supply tested OK and it worked very well with S1 Antminers. We may decide to use this power supply rather than Corsair power supply in Batches two and after that.

The new power supply will reduce some of charges but custom charges also maybe more than what we expected, also price of BTC Changed after a long stable line so we may have some ammendation in BTC prices as well.

Don't mine on GHash, see if you can find a multipool that gives you bitcoins not altcoins.

Please let me have an experienced better suggestion. In our experience Ghash.io is very clear and pay the exact amount they promise.
And yes give some altcoins additianlly. But the profitablity seems to be good.
But let me have your alternative pool suggestion.

Thanks,

Well you're hosting a warehouse full of tech, so you could create your own p2pool node.

Other than that, any pool that hasn't gotten dangerously close to 50%. Slush would be one example.

P2Pool offers no fees like ghash, and you can run it on a raspberry pi sitting in the warehouse.

Great! this is a good Suggestion! :D
I will read about p2poll more and update about this soon.

INSTALLING POWER CABLING AT FORGE COIN FACILITY

MAY 23, 2014

As scheduled on May 23th 2014 we have installed power Cabling at Forge Coin Facility.

Here is some pictures and one video for this:

Connecting ForgeCoin facility to main 3×400 Amp power:
http://www.forgeco.in/wp-content/uploads/2014/05/%DB%B2%DB%B0%DB%B1%DB%B4%DB%B0%DB%B5%DB%B2%DB%B3_%DB%B1%DB%B3%DB%B0%DB%B0%DB%B1%DB%B0.jpg

ForgeCoin Main power post:
http://www.forgeco.in/wp-content/uploads/2014/05/%DB%B2%DB%B0%DB%B1%DB%B4%DB%B0%DB%B5%DB%B2%DB%B3_%DB%B1%DB%B2%DB%B3%DB%B6%DB%B0%DB%B4.jpg


Installing power Cabling at Forge Coin Facility Video:

https://www.youtube.com/watch?v=zQccfhaROpw (https://www.youtube.com/watch?v=zQccfhaROpw)

Now we have enough power capacity to host up to 175 S1 Antminers in current facility.

UPDATES FROM FORGECOIN

MAY 26, 2014

We have received Batches 4 and 5!

Batched 1,2 & 3 still in custom clearance process. We hope that they will clear very soon as well.

Now at ForgeCoin Facility we have 8xS1 Antminers Mining.

We estimate that today we should have Batch 1(8xS1) release from customs.

Also we hope that today we calculate the second week dividends and pay them.

Take a look at your Antminers mining at ForgeCoin Facility:

https://www.youtube.com/watch?v=dAyf7KWxT1Q (https://www.youtube.com/watch?v=dAyf7KWxT1Q)

Looks like you're doing well Sephehr.

Please look into p2pool. Its good for the network!

Thanks a lot, Sure I will do, But recently very busy transacting with customs and shipping devices to facility and Installing them, But I will definitely check your suggestion, p2pool, for better results.

Not surprised, I've been waiting on customs for 4 days with something for the exchange.

You probably won't get anymore profits using p2pool, but its good for the network. Which indirectly benefits you.

SECOND WEEK DIVIDENDS PAID

MAY 28, 2014

It’s our pleasure to inform that we have paid our Second Week dividends today:
http://www.forgeco.in/wp-content/uploads/2014/05/ForgeCoin-Dividnds-5_26_2014-page1.png

ForgeCoin Dividnds 5_26_2014-page1

For a pdf file please click here (http://forgeco.in/download/dividends/ForgeCoin%20Dividnds%205_26_2014.pdf).

We have two weeks of hard work but it’s very sweet to pay the first dividends to our asset holders.

Now we have 18xS1 Antminers installed and mining at our facility.

We have 10x S1 Antminers(Batches 2 and 3) that are still in custom waiting for clearance.

We have 12xS1 Antminers(Batches 6,7,8,9) ordered and shipped.

We grow from daily 0.031 BTC on 5/21/2014 to 0.144 BTC per day today.

You can check our daily income here in our dedicated BTC Address for Mining:

19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5 (https://blockchain.info/address/19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5)

We hope deeply to grow Forgecoin Smooth and over Trust and Transparency.

NEW ASSET PRICE

MAY 28, 2014

As Bitmain decreased the S1 Antminers price also we are using a new PSU that is cheaper we also decreasing our BTC and NXT Asset prices.

So the new BTC Price of ForgeCoin Asset is 0.7777 BTC and for those apply before June 15 with %10 Discount, it will be 0.7 BTC.

Also as the NXT/BTC rate is now stabilizing above 6800 Satoshi the new NXT Asset price is 10300 NXT/ForgeCoin Asset.

For sure, whoever invest faster receive more mining rewards.

24X S1 ANTMINERS MINING AT FORGECOIN

MAY 30, 2014

Now 24x S1 Antminers are mining at Forge Coin Facility.

By the end of next week we estimate this number to grow to 46x S1 Antminers.

This is an screenshot of M’s Ant Monitor that we are using at our farm to monitor our Antminers:

http://www.forgeco.in/wp-content/uploads/2014/05/24xS1Antminers.ng_.png
24xS1 Antminers

Our total Hash Power is currently estimated to be 4.32 Th/s and estimate to grow to 8.28 Th/s until end of next week.

This hash power can generate 0.398 BTC per day that is currently  about 0.2 BTC/Day.

As we have sold about 47.5 Assets till now it means that with current asset holders each asset wil have a share of 0.0586 BTC/ week/Asset dividends, excluding costs.

Assuming 0.7 BTC per asset, An ROI of 3 months without costs can be estimated. Which with costs it will be about 4 months.(And assuming same difficulty in BTC network that is not true!)

Add to all of above the price of Bitcoin that is growing now, That show that you had a very good choice!

Just some estimation about what we will have ahead!

NEW NXT PRICE: FORGECOIN=9300 NXT

MAY 31, 2014

As the price of NXT now swinging above 7500 Satoshi/NXT now we amended our asset price to 9300 NXT/Asset.

The BTC Price will be 0.7/Asset until 15th Jun if S1 Antminer price not changed significantly.

After 15th of Jun, the %10 discount, for early contributors, will be waived, and the price will grow to 0.7777 BTC per Asset.

NEW NXT PRICE: FORGECOIN=8250 NXT

JUNE 2, 2014

As the price of NXT now swinging above 8500 Satoshi/NXT now we amended our asset price to 8250 NXT/Asset.

The BTC Price will be 0.7/Asset until 15th Jun if S1 Antminer price not changed significantly.

After 15th of Jun, the %10 discount, for early contributors, will be waived, and the price will grow to 0.7777 BTC per Asset.

Also we will don’t charge any costs for first month contributors. Another step to support those that risked and purchased our asset.

So first month contributors will received every satoshi we are mining without decreasing any costs for Electricity, Rent and any other costs.

FYI there are 29xS1 Antminers Installed and mining at our Facility we have 7 Antminers that received yesterday and will install it today Inshallah. Also we have 10xS1′s in shipment.

We are receiving daily 0.2 BTC approximately now. We will calculate this week dividends at 12:00 GMT today.

So everyone holding our assets at 12:00 GMT every Monday will receive their dividends.

As paying dividends still manually it may took about 24 hours for us to pay it. We have hurry to pay dividends ASAP. So we do our best to pay it as fast as possible.

THIRD WEEK DIVIDENDS PAID

JUNE 3, 2014

Today we have paid third week dividends.

For more information please check this pdf (http://forgeco.in/download/dividends/ForgeCoin%20Dividnds%206_2_1014.pdf).

As we told before to support our early investors we have waived all costs for first month investors.

All costs including electricity costs, rental costs, Installation costs, Management costs, and so, will deduct from mining revenues from week 5. Also starting from June 15 the %10 discount over Asset price will be waived.

FYI we faced a 6 hours down time last night because of cut of electricity because of huge sand storm in Tehran. (http://www.theguardian.com/world/2014/jun/02/tehran-sandstorm-kills-injures-dozens-iran)

Everything is up and running smoothly now.

LAST UPDATES 6/5/2014

ForgeCoin= 0.7 BTC/Asset
ForgeCoin= 6350 NXT/Asset
Sold Assets: 91.367
Ordered S1's: 58
Installed S1's: 45
Current Hash: 8.1 Th/s
Main Mining Account:
19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5 (https://blockchain.info/address/19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5)

ANTMINER S2 RATHER THAN S1

JUNE 6, 2014

As Bitmain, the source for our mining hardware, stopped production of S1 Antminers, from today, we started to order S2 Antminers.

S2 Antminers Hashing rate is 1 Th/s which is about 5.5 x of S1 180 Mh/s Hash rate. So we count each S2 Antminer as 5.5 x S1 Antminers and we order 1 x S2 Antminers for each 5.5 ForgeCoin Asset.

Overall each Forgecoin Asset will remain 180 Gh/s Hashing Power.

To be sure about custom paperwork we started with just 1x S2 Antminer, and after that we are getting sure about it’s custom clearance we will order our main requirements.

Also as one of our investors suggested, we are studying Dragon 1T Mining hardware as well, and when we are sure that it can be a good choice, will update our valued investors as well.

Also we are studying setting up NXT voting system for our clients to decide what they want us to do.

LAST UPDATES 6/6/2014

ForgeCoin= 0.7 BTC/Asset
ForgeCoin= 5600 NXT/Asset
Sold Assets: 92.467
Ordered S2's: 1
Installed S2's: 0
Ordered S1's: 58
Installed S1's: 45
Current Hash: 8.1 Th/s
Main Mining Account:
19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5 (https://blockchain.info/address/19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5)

LAST UPDATES 6/12/2014

ForgeCoin= 0.7 BTC/Asset
ForgeCoin= 6600 NXT/Asset
Sold Assets: 93.967 of 175 Total
Ordered S2's: 2
Installed S2's: 0
Ordered S1's: 58
Installed S1's: 52
Current Hash: 9.36 Th/s
Daily income Est: 0.40 BTC
Main Mining Account:
19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5 (https://blockchain.info/address/19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5)

FOURTH WEEK DIVIDENDS PAID.

JUNE 12, 2014

It’s our pleasure to inform that today we have paid our fourth week dividends.

For more information please check this pdf (http://forgeco.in/download/dividends/ForgeCoin%20Dividnds%206_9_1014.pdf).

Our dividends per Asset paid this week was 163.29624900 NXT.

We hope that this small amount don’t frustrate our investors.

Last week we had Chinese Festival holidays for four days. And after that the Bitmain Company stopped S1 Antminers and we change our line S1 orders to S2 orders and it takes time to import, solve custom issues and install the new miners, by the way we had new investors as well. So we are very late in ordering and installing Miners. So the number of Asset holders increased while the number of Miners not increased enough, and it results that Dividends is not so that we estimated before.

But we are sure that if we receive and install the new miners the Dividends will grow much more.

As we told before to support our early investors we have waived all costs for first month investors.

FYI all costs including electricity costs, rental costs, Installation costs, Management costs, and so, will deduct from mining revenues from next week. Also starting from June 15 the %10 discount over Asset price will be waived and you have just 3 days remaining to invest in ForgeCoin with %10 discount.

Hope you find ForgeCoin a good place for investment.

NEW VIDEO FROM FORGECOIN FACILITY

JUNE 12, 2014

These are your Antminers mining at ForgeCoin facility.

We have 52x S1 Antminers installed 6x S1 Antminers and 2x S2 Antminers shipped and waiting for custom clearance now at 6/12/2014.

https://www.youtube.com/watch?v=e93KpDZ8CNo (https://www.youtube.com/watch?v=e93KpDZ8CNo)

FOLLOW US ON TWITTER

JUNE 12, 2014

We have setup a twitter account and you can follow last ForgeCoin updates through Twitter @ForgeCoin .

Please follow us on twitter and don’t miss any news from us.

Thanks,

ForgeCoin Staffs

Seeing as you decided to delete my comment on Youtube, i'll put it here.

https://www.youtube.com/watch?v=zQccfhaROpw

Interesting electrical safety standards you have there, here's a list of things that would make me kick the sparky out of the building if i saw that level of quality.

0:05 "Lets just cable tie this huge, 3 phase power cable to a window, then dangle it across a flight of stairs, what could possible go wrong?"
0:08 Interesting security you have there.
0:10 Cable strain relief, what's that?
0:19 Need to add more extension cables? I'd turn everything off before you do, unless you like the smell of fried skin. Also the input for the main switch seems to be just shoved in there, but judging from the install job at 0:05, I'm not surprised. Don't forget to put some rubber grommets on the holes at the bottom, with all the cable movement, it won't take long before someone gets electrocuted.

I would mention something about the cables trailing over the floor, but i would hope you would get that tided up as you get set up.

So aside from the health and safety nightmare, lack of basic electrical safety and lack of physical security, there is only 1 question that remains.

You're in Iran, and Iran isn't known for its cold climate. What are you doing about cooling 52 ant miners? I had 11 of them running and they rapidly increased the air temps to 35-40c+, with a room full of miners dumping out the heat of a small volcano into the air, a fire won't be far off.


**EDIT**

Just saw your new video.

https://www.youtube.com/watch?feature=player_detailpage&v=e93KpDZ8CNo#t=21

Are you using the same cable you are using for the 12v lines, for mains voltage?!

Dear Pieh0,

It's my pleasure that you decided to give us feedback!
Thanks a lot and I value it and never decided to delet your comment anywhere!

About each comment:
0:08 We have enough security and increased it after the first video. All this Facility is inside a Factory and it has guardian.
0:10 It's an electricity meter, let us know how much KWh we are used.
0:19 All cable have thick shields but your suggestion to put rubber grommets on the hole are very appreciated and seems necessary.

Room temperature is about 40 Degree C that not seems so bad because no one is in the mining room. we have just one Monitoring room that is separated for personnel to monitor all devices from there.
Also the device temperatures are between 50 to 60 Degrees depending on the location of the device.
We are using a local known device calling it cooler to input the cooled air from outside into the mining room and using Great fans to throw out the hot air.
Currently it's summer in Iran and we had no problem yet with our small volcano! ;)
We are installing weekly about 24 more S1's or 5 S2's and we hope that we have no problem with the real volcano that we will have within a month!!! :'( ::)

LAST HOURS FOR %10 DISCOUNT

JUNE 15, 2014

We hold our first month %10 discount for early contributors until today, 6/15/2014 12:00 GMT.

So after that, our Asset price will increase %10.

Our BTC Price will be 0.7777 BTC per Asset. We may amend this price according to last updates from custom clearance for S2 Antminers.

LAST UPDATES 6/15/2014

ForgeCoin= 0.7 BTC/Asset
ForgeCoin= 5900 NXT/Asset
Sold Assets: 100.957 of 175 Total
Ordered S2's: 2
Installed S2's: 0
Ordered S1's: 58
Installed S1's: 52
Current Hash Est: 9.36 Th/s
Daily income Est: 0.40 BTC
Main Mining Account:
19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5 (https://blockchain.info/address/19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5)


FOLLOW US ON TWITTER

Follow @ForgeCoin (https://twitter.com/ForgeCoin)

Hello,
How profitable can be this and how much i need to invest first. I might be interested in this!
Can you please send me more info via PM.
Thank you a lot
BR
Gondel

Hello Gondel,

We are mining in a country with cheap electricity about 0.01$/KWh.
We have a total capacity of 175 Slots for each slot equivalent to 180 Gh/s or an S1 Antminer.
Currently after one month from our IPO we have sold about 100 Slots.
You can invest any amount.
Our asset is available in NXT Asset Exchange.
You can pay by BTC which we prefer or NXT as you wish.
We are paying dividends weekly.
ROI is estimated to be about 4 Months.

For more information please visit our website: http://ForgeCo.in

Let me know if any more information you need.

Regards,
Sepehr

Send you PM as well

LAST UPDATES 6/15/2014

ForgeCoin= 0.7777 BTC/Asset
ForgeCoin= 6500 NXT/Asset
Sold Assets: 100.957 of 175 Total
Ordered S2's: 2
Installed S2's: 0
Ordered S1's: 58
Installed S1's: 52
Current Hash Est: 9.36 Th/s
Daily income Est: 0.40 BTC
Main Mining Account:
19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5 (https://blockchain.info/address/19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5)


FOLLOW US ON TWITTER

Follow @ForgeCoin (https://twitter.com/ForgeCoin)

FIRST S2 CUSTOM CLEARANCE SUCCEEDED

JUNE 16, 2014

It’s our pleasure to inform that first S2 Antminer custom clearance was succeeded.

It is very hard process in this country and it’s successful clearance was really a victory!

So we have placed new order for 6 more S2 Antminers just now.

First S2 Antminer is received today and we will update about it’s installation process ASAP.

BTC PRICE UPDATED

JUNE 16, 2014

As the Custom charges have been updated for S2 Antminers, We are amending our Asset price to 0.9 BTC per ForgeCoin Asset.

It’s noteworthy that S2 devices, price per Hash is more expensive than S1 Devices price per Hash, But they almost use half power, So we can install more S2′s than the 175 S1s that we estimated before. and pay even less electricity costs per Asset.

This Asset price includes: 180 Gh/s share of an S2 Antminer, Custom costs, and Installation Costs

Other costs like Electricity costs, Managment costs, Rent costs, Internet costs, Personnel costs will deduct from Mining income and then the dividends will pay.

LAST UPDATES 6/16/2014

ForgeCoin= 0.9 BTC/Asset
ForgeCoin= 7500 NXT/Asset
Sold Assets: 101.057 of 175 Total
Ordered S2's: 8
Installed S2's: 0
Ordered S1's: 58
Installed S1's: 52
Total ordered: S1+5.5xS2= 102
Current Hash Est: 9.36 Th/s
Daily income Est: 0.40 BTC
Main Mining Account:
19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5 (https://blockchain.info/address/19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5)


FOLLOW US ON TWITTER

Follow @ForgeCoin (https://twitter.com/ForgeCoin)

Please stop mining on Ghash! Elgius.st has the same features, and doesn't have nearly 50%!

Will try it.
Thanks for your suggestion.

FIRST S2 INSTALLED

JUNE 18, 2014

Our First S2 Antminer that we have received yesterday Shipped to Facility and installed there.

Now we have 7x S2 Antminers ordered and shipped and we have hope to receive and install them within 10 days.

Take a look at first S2 Antminer installed at ForgeCoin Facility and mining for you now:

First S2 Antminer Installed
http://www.forgeco.in/wp-content/uploads/2014/06/%DB%B2%DB%B0%DB%B1%DB%B4%DB%B0%DB%B6%DB%B1%DB%B7_%DB%B1%DB%B6%DB%B1%DB%B5%DB%B2%DB%B7.jpg

Please click on the picture for a more resolution picture.

DIVIDENDS PAID 6/16/2014

JUNE 18, 2014

It’s our pleasure to inform that we have paid dividends of the week ending to 6/16/2014.

For the first time we have deducted two costs, Management costs and Rental costs of first month.

I hope that the new ordered devices will receive sooner and it increase the amount of dividends payable by us.

Also in this second month we should cover the costs of first month also and I hope that it is don’t frustrate our investors.

For more information about this week Dividends please check this pdf file:

http://forgeco.in/download/dividends/ForgeCoin%20Dividnds%206_16_1014.pdf

MERGE MINED AND SECOND POOL MINED BTCS RELEASED.

JUNE 22, 2014

Ghash.io is merge mining some other coins that have no effect on BTC mining and have additional benefits.

We have transferred all NMC, IXC and DVC Coin to Cryptsy.com and changed them to BTC and send them to our main Mining account.

The transaction id is: 5889de8d9a21478a4654bca859145e55cf3e92de174919d789f7c7500894d8e7 (https://blockchain.info/tx/5889de8d9a21478a4654bca859145e55cf3e92de174919d789f7c7500894d8e7)

Also nomally we mine with Ghash.io’s UK pool if it fails we go to Ghash.io US pool and if they both fail we mine with multipool.us as our third pool.

So the multipool.us mining BTC also released today to our main mining account.

The transaction id is: 4ba2dce3dc58d0d30c67327f8a90848358228157128243246015650010c48354 (https://blockchain.info/tx/4ba2dce3dc58d0d30c67327f8a90848358228157128243246015650010c48354)

So where in Iran are you located? Tehran? Shiraz? Esfehan? My guess is Shiraz.

Tehran

DIVIDENDS PAID 6/23/2014

JUNE 26, 2014

It’s our pleasure to inform that we have paid dividends of the week ending to 6/23/2014.

Please accept our apologize for latency to pay this week dividends.

We have deducted part 1 of 8 of Facility Setup costs this week. It’s covering initial costs for setting up the facility.

Facility setup costs including Power Cabling, A computer for Monitoring staff, Cooling system, Asset Registration, website, Cables etc.

Setup costs for each Antminer included in the Asset costs and don’t calculated as Initial Facility Costs.

We have also deducted All current costs including internet charges, Fans and powers purchase to replace the burned out S1 Fans or powers ,etc from start of project.

We hope that in next week we receive the remaining ordered miners and it increase the amount of dividends payable by us.

Also in this second month we should cover the costs of first month also and I hope that it is don’t frustrate our investors.

For more information about this week Dividends please check this pdf file.

http://www.forgeco.in/download/dividends/ForgeCoin%20Dividnds%206_23_1014.pdf

LAST DIVIDENDS PAYOUT AMENDED

JUNE 27, 2014

We have made a mistake in last dividends payout and it paid exactly like last week Nxt/Assets payouts.

So we have amended the payout file and paid the remaining Dividends today.

Please accept our apologize and we covered transfer costs for this second payouts.

DIVIDENDS PAID 6/30/2014

JULY 1, 2014

Dividends of the week ending to 6/30/2014 paid.

We have several costs this week. The Last S2 that we have receieved from Bitmain had a failed PSU so we had to purchase new PSU for it.

Also we had 3 other PSU failures during last weeks and we have purchased 4 new PSU’s.

yesterday we have also ordered two S3 Antminers we hope that the new devices to grow our total Hash rate more.

We plan to sell used S1′s to the local market and replace them with S3 devices so increase the total Hash rate of ForgeCoin.

We have deducted part 2 of 8 of Facility Setup costs this week.

We hope that in next week we receive the remaining ordered miners and it increase the amount of dividends payable by us.

For more information about this week Dividends please check this pdf file.

http://www.forgeco.in/download/dividends/ForgeCoin%20Dividnds%206_30_1014.pdf

NEW S3 ANTMINERS WILL HALF OUR ASSET PRICE

JULY 6, 2014

This is to notify that the New Generations of Bitmain Antminers will Half our remaining Assets Price.

So our Asset price will decrease from 0.9 BTC for 180 GH/s share of an S2 Antminer device to 0.44 BTC for 180 GH/s share of an S3 Antminer price.

We are sorry for the inconvenience that may happen for our asset holders because of this wide price change but our field is Technology and changing so fast, so we are changing from S1 Antminers to S2 Antminers and now to S3 Antminers within less than two months.

After we sell the remaining Assets our Asset price may grow because each asset is 1/175 of Total assets of ForgeCoin Facility that contain S1′s, S2′s And S3′s Installed there.

Now the remaining Assets are really an Auction for anyone want to have a good opportunity.

LAST UPDATES 7/06/2014

ForgeCoin= 0.44 BTC/Asset
ForgeCoin= 5365 NXT/Asset
Sold Assets: 106.857 of 175 Total
Ordered S3:2
Installed S3's:0
Ordered S2's: 8
Installed S2's: 7
Ordered S1's: 56
Installed S1's: 54
Total ordered: S1+5.5xS2+2.6xS3= 105.2
Total Installed: S1+5.5xS2= 92.5
Current Hash Est: 16.65 Th/s
Daily income Est: 0.497 BTC

Main Mining Account:

19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5 (https://blockchain.info/address/19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5)

DIVIDENDS PAID 7/7/2014

JULY 7, 2014

Dividends of the week ending to 7/7/2014 paid.

We have paid most costs of first and second month.

We have receieved the electricity bill of first month and we left it for next week, it’s about 0.5 BTC! All electricity costs for first month!

We have also deducted part 3 of 8 of Facility Setup costs this week.

We hope that starting from next week the amount of dividends payable by us to increase significantly.

For more information about this week Dividends please check this pdf file.

http://www.forgeco.in/download/dividends/ForgeCoin%20Dividnds%207_7_2014.pdf

DIVIDENDS PAID 7/14/2014

JULY 14, 2014

Dividends of the week ending to 7/14/2014 paid.

We have paid all costs was late because of first month initialization.

We have paid our first electricity bill also including factory and some of our office bill. Our calculation show that total cost we have paid for electricity is about  0.02 USD. We are paying 0.01 USD in low load hours and 0.04 USD in full load hours and the overall costs is about 0.02 USD/Kwh.

We have postponed part 4 of 8 of Facility Setup costs to next week.

We hope that starting from next week we can start to pay each week costs on the same week.

Also last week we have received a new 1000 Watt Enermax PSU from Bitmain, because of the one included with one S2 that failed. we can use it as backup or the New S3′s that will receive soon.

For more information about this week Dividends please check this pdf file.

http://www.forgeco.in/download/dividends/ForgeCoin%20Dividnds%207_14_2014.pdf

ASSET PRICE AMENDATION

JULY 15, 2014

As Bitmain has been changed the nominal Hash of S3 devices we have also amended our asset price.

As each ForgeCoin Asset represents 180 GH/s and the new S3 nominal Hash rate is 440 GH/s, so we have amended our Asset price form 0.44 BTC per asset to 0.48 per Asset.

The NXT price also changed accordingly to 6800 NXT per Asset currently.

LAST UPDATES 07/15/2014

ForgeCoin= 0.48 BTC/Asset
ForgeCoin= 6800 NXT/Asset
Sold Assets: 107.95 of 175 Total
Ordered S3:2
Installed S3's:0
Ordered S2's: 8
Installed S2's: 7
Ordered S1's: 56
Installed S1's: 56
Total ordered: S1+5.5xS2+2.4xS3= 104.8
Total Installed: S1+5.5xS2= 94.5
Current Hash Est: 17.01 Th/s
Daily income Est: 0.493 BTC
Main Mining Account:
19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5 (https://blockchain.info/address/19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5)

DIVIDENDS PAID 7/21/2014

JULY 25, 2014

Dividends of the week ending to 7/21/2014 paid.

We have paid part 4 of 8 of Facility Setup costs this week.

Also last week we have received 2xS3 Antminers and they are mining now.

We had some problems with one of them, but could solve it. Some pictures about these two new S3′s and the problems we had are mentioned here:

https://bitcointalk.org/index.php?topic=671189.msg7933139#msg7933139

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin%20Dividnds%207_21_2014.pdf

We had paid dividends on time this week but please forgive us because of posting the report late.

Also next week we will be off because of local Holidays, so we scheduled to pay two weeks dividends on 8/4/2014.

Monitoring Staff will be at Facility and hope to have no problem regarding Mining.

We had sold some of our S1′s and replacing them with S3′s.

Also we have more S3′s in shipment.

Received yesterday. Good!

@sepehr: I would like to know, you will be no longer publish report as pdf on your Web page (http://www.forgeco.in/), hier on BTT and on nxtforum.org (https://nxtforum.org/assets-board/(ann-forgecoin)-mining-with-cheap-electricity!/?all)? You are now 3 days too late.


You wanted to pay the dividend for 2 weeks at a time. Here (http://www.nxtreporting.com/?ac=10807998119924651512) at "My Transactions" we can see, now you have paid about 206 NXT per asset, is this dividend for one or two weeks?
This is even less than the last payment. At that time you have paid 125.38 NXT/asset/week.

You have promised, "ROI is about 4 Months from IPO Date". In reality, it is possible by this paying out only in 75 months (about 1.5 years). Please clarify the situation.

DIVIDENDS PAID 8/4/2014

AUGUST 6, 2014

Dividends of the week ending to 8/4/2014 paid.

We are back from our Holidays and found very busy days!

We have paid dividends of the last two weeks.

We have paid part 5 & 6 of 8 of Facility Setup costs this week.

Also last week we have received Another 2xS3 Antminers and they are mining now.

For more information about this week Dividends please check this pdf file:

http://forgeco.in/download/dividends/ForgeCoin%20Dividnds%208_4_2014.pdf

We had paid dividends on time this week but please forgive us because of posting the report late.

We have mined almost same BTC amount and paid same BTC Dividends this week but because that we have sold 25 Assets just in one order last week the total amount per asset is reduced.

Also we have a lot of PSU failures. Almost %30 of all PSU’s we have purchased for S1′s and S2′s has been burned out and we had no choice other to replace them with new ones so our current costs increased we assume  it because of the hot air in the facility. We plan to have some solution for this.

After finishing part 7 and 8 of Facility setup the dividends will increase a lot.

Also we have ordered 6xS3′s and they are shipped today.

Hello dear armatus,

I am very sorry for our late report and you have right to ask for clarifications for sure.

1-We are continue to publish our weekly report on our own site and on BTT and NXT Forum. please forgive us for this week latency.
2-The last two week report published and you can check it.
3-You are right we have paid 206 NXT per Asset this week and it belongs to last two weeks. We have mined and paid almost same BTC amount but because we had a new order of 25 Assets in last week the total amount per asset decreased. we have placed new orders for new Assets and once they shipped and installed the total amount of dividends per asset will increase.
4-About ROI, we had two costs that we had not calculated at start of project.
First one was Facility Setup cost. It was about 8 BTC covering Power cabling, Monitoring room and staff requirements it was a lot more than what we have calculated before. To reduce it's effect we divided this cost to 8 parts and reduced each part in one week and we have paid 6 of 8 parts of this costs till this week and it remains just two parts of it to finish. After it finished the total dividend per asset will be about two times.
Second one that we have not seen in the start of project was PSU failures. Almost %30 of all PSUs we have purchased has been burned out and we replaced them with new ones. It face us with new costs that should be covered. We are looking for a solution for it yet.
We estimate the ROI to increase to 7 or 8 months because of these unseen costs.

Please pay attention that after issuing the asset we can no longer edit it's info. We estimate the ROI 4 months at the start of project, just days after starting project we increased it to 5 months in BTT and NXT forum, but could not edit it in AE anymore:


I hope that clarify our situation with Forgecoin Project.
We are continue to serve you as best as possible.
We faced a lot of problems in this way and solved a lot of them now and see the remaining way lot lot more easy than the way we came till now.

And we hope to celebrate success of this project soon together.  :)

Not as good as we estimated before but not so bad also. ;)

3 AM, Local time in Tehran!
Sepehr

I do not understand your logic. You mean, that is, the more you sell assets, that is, the more you get hardware, the less you pay dividends ??? I do not understand why old asset owner have to pay for the new asset owner.

Even at reduced prices, you sell: 6850 NXT/asset
6850 / 103 NXT (dividend / week) = 66,5 weeks = 1,27 years and not 8 months.

We cannot distinguish old asset owner from new asset owner. Assets are tangible and any asset holder have no difference with other asset owner.
So at the time of paying dividends all payable amount will devide to total assets sold.
We have no way other that.

See the last two report:


1- Total Asset sold increased from 107.95 to 133.189. On 8/2/2014 20:30:27 Tehran time we have sold 25 asset. You can see it with account number 2752585329745457095  in our second line of accounts. On 8/4/2014 we have paid this asset holder 5,158.77649028 NXT even when he is two days old asset holder. This is the way Asset exchange working! So Dividends per asset decreased from 0.01007677 BTC to 0.008155975 BTC. Total dividends payable increased, but dividends per asset decreased. We ordered new devices fast and new devices will ship and install soon, while then this will happen and is normal.

2- After finishing part 8 of facility setup the dividends will be more than two times I mean more than 206 NXT. And as each asset is 6850NXT now the ROI will be: 6850/206= 33 week = 8.3 Month while I'm sure after  fininshing part 8, means after two week, dividedns per asset will increase more than two times. one of our major costs in our reports is this cost and by covering it we will have no major costs.

3- Pay attention that in first one we have paid no costs, so in second month we have paid two month costs in one month, but in third month we will pay just one month cost in that month so the dividends will increase again.

So overall I'm sure the ROI will be better than the worst case that estimated above.

NEW VIDEO FROM FORGECOIN FACILITY

AUGUST 10, 2014

This is a new Video from ForgeCoin Facility and it’s installed S1, S2 and S3 Antminers.

Th temprature is very high and too hot.

We are in the process of installing a new Cooling Machine to reduce the temperature.

Also today we have ordered 8 new S3 Antminers.

Watch the video:

https://www.youtube.com/watch?v=bM10Pot3mgk (https://www.youtube.com/watch?v=bM10Pot3mgk)

Thank you for this video!
60C is quite hot, but I would not try to cool it down with an A/C. Maybe you can build a wind tunnel instead, AFAIK you only need to move the hot air out of the room. What is the temperature outside?

Yes, we do the same, just pull it out. outside temp is 39C degree for today.

39C is very hot, better go to the beach than fiddle with the miners!  :)

You could try to establish a push/pull ventilation: push outside air in from the opposite wall of the pull fan.

We are experincing hottest days of year in tehran. it will be 32c next week.

And yes we do exactly what you told.

DIVIDENDS PAID 8/11/2014

AUGUST 12, 2014

Dividends of the week ending to 8/11/2014 paid.

We have paid part 7 of 8 of Facility Setup costs this week.

Also last week we have received 6xS3 Antminers and they are mining now.

For more information about this week Dividends please check this pdf file:

http://forgeco.in/download/dividends/ForgeCoin%20Dividnds%208_11_2014.pdf

We had some problem with new NRS last night! It force us just to use new NXT Account format, so it takes more time to pay dividends.

Also we have ordered 8xS3′s and they are not shipped yet.

LAST UPDATES 08/14/2014

ForgeCoin= 0.48 BTC/Asset
ForgeCoin= 7250 NXT/Asset
Sold Assets: 162.013 of 175 Total
Ordered S3:25
Installed S3's:17
Ordered S2's: 8
Installed S2's: 7
Ordered S1's: 55
Installed S1's: 55
Total ordered: S1+5.5xS2+2.4xS3= 159
Total Installed: S1+5.5xS2+2.4xS3= 134.3
Current Hash Est: 24.17 Th/s
Daily income Est: 0.615 BTC
Main Mining Account:

19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5 (https://blockchain.info/address/19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5)

8 NEW S3′S INSTALLED

AUGUST 17, 2014

This is to inform the community that yesterday we have received and installed 8 new S3′s that we ordered last week.

So this week we have received and installed 16 new S3′s.

Also as Bitmain postponed shipping new devices to September 20th, we also stopped selling our small amount of remaining capacity for the moment.

Maybe we decide to sell it later when we can be sure that we can place orders and receive devices fast.

Also we have 6xS1's that not mining and out of order, so it decreases our total hash power. We are working on them to return them to the rig.

GHASH PROBLEM WITH AUTO PAYOUTS, FORGECOIN DIVIDENDS PAYOUTS POSTPONED.

AUGUST 19, 2014

We are sorry to inform that we had faced with a problem last night because GHash.io auto payouts had problem and we have not received what we estimated to receive from our mining pool.

This is their reply according to our resolution request:


So we have postponed Dividends payout for 24 hours.

Normally we calculate dividends at 12:00 GMT on Mondays and will pay it within 24 hours after that, so please be patient and wait another 24 hour for this issue to be solved.

Thanks for your patients,

ForgeCoin Team

DIVIDENDS PAID 8/18/2014

AUGUST 19, 2014

Dividends of the week ending to 8/18/2014 paid.

We have paid last month electricity bill this week.

Because of the BTC price dive, you may see the electricity cost grows.

Also we had lots of power failaure last week that force us again to purchase 6 new PSUs. We are very sorry for choosing bad PSUs! But we had no experince like this before.

CEX.IO had some problem with auto payouts last night that face us with some latency in dividends payouts yesterday.

Also we have postponed paying last part of Facility setup costs(8/8) to next week.

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin%20Dividnds%208_18_2014.pdf

DIVIDENDS PAID 8/25/2014

AUGUST 27, 2014

Dividends of the week ending to 8/25/2014 paid.

Sorry for the delay on dividends payments this week.

We had some good news and bad news this week.

Starting with Bad news!

Bad news is that we had paid one Bitcoin more than what we really mined last week! So we returned it back this week! Sorry for this inconvenience.

Also we still had lots of power failure last week that force us again to purchase 8 new PSUs. We have something about 30 failed PSUs now.

Good news is that we found a repairman that repaired some of these PSUs. We searched a lot for a repairman that can repair these power supplies but we failed yet, but the new person repaired 7 of PSUs with a good price, and he promissed that the repaired units don’t burn anymore.

Another good news is that one S2 Antminer device that we have bought about two months before in start of project and we never received it, after a long discussions and complains between us, Bitmain and EMS, which they are not accepting to compensate completely, Accepted by Bitmain to compensate in full and shipped to us, and we estimate to receive it in during next days.

Another good news is that we used Multigateway this week to change BTC to NXT, so we have paid no fee for exchange, withdrawal etc.

Also we used Dividedns+ software for paying dividends again this week, it’s really nice and working very fast and smooth. once again thank you valarmg!

Also we have postponed paying last part of Facility setup costs(8/8) again to next week.

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin%20Dividnds%208_25_2014.pdf

DIVIDENDS PAID 9/1/2014

SEPTEMBER 2, 2014

Dividends of the week ending to 9/01/2014 paid.

Good news is  that we have received one remaining S2 Device at last this week. This device was missed by EMS and they accepted to pay just $200 for it's compensation! After a lot of discussion with Bitmain they accepted to send us a new S2 device after two months of our order! Anyway, it's now here and mining at facility.

The repairman we informed about, last week is repaired 7 PSUs this week and now we have more PSUs than our devices.

We had some PSU failures also this week but we have less fear about them because now we can repair them fast and they promised us that the repaired PSU's will never fail again Inshallah.

Another good news is that we have paid part 8/8 of facility setup costs and starting from next week we have no such costs anymore, so will have bigger dividends soon.

We are consulting for setting up a new site or extending the capacity of the current site.

We will update once we can confirm initializing any new capacity.

We had some latency because of using Multigateway as exchange yesterday, it took about 15 hours our deposit to appear on our asset by the way we continue to use it for the moment.

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin%20Dividnds%209_1_2014.pdf

DIVIDENDS PAID 9/9/2014

SEPTEMBER 8, 2014

Dividends of the week ending to 9/9/2014 paid.

The repairman continue to repair 7 more PSUs this week and repairing 9 more PSUs now so we have lots of more PSUs than our capacity we took these PSU’s for the new site that we are planning to initiate soon.

We have paid the August Facility rental this week.

Bad news is that according to decreasing the value of BTC to Fiat we should pay more to cover our local charges for example we paid 1.34 BTC for July rental but we paid 1.66 BTC for August rental, while the fiat amount was the same.

Good news is that we have opened the remaining ForgeCoin Assets for sale. And we have placed orders for 4 new S3′s. Bitmain is promised to ship them before Sep 20.

Now we are sure that we should initiate a new site, so we are in search for a new Factory location in our country.

We will update once we can confirm initializing any new capacity.

For more information about this week Dividends please check this pdf file.

http://www.forgeco.in/download/dividends/ForgeCoin%20Dividnds%209_8_2014.pdf

Good Job!

DIVIDENDS PAID 9/15/2014

SEPTEMBER 15, 2014

Dividends of the week ending to 9/15/2014 paid.

We have repaired 20 more PSUs. Also we bought a new PSU for test reason.

Good news is that summer is going to finish in our country and we hope that we will have few PSU failures in autumn.

We had Electricity Bill last week and we paid half of it this week and postponed the remaining to next week.

We are  seriously in search of a new facility in our country and studying new ASIC Miners for the new site.

We may decide to switch to Scrypt mining using L1 Antminers introduced recently by Bitmain.

Also please let us know any new suggestions for changing our business Model.

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividnds_9_15_2014.pdf

Dear Freinds,

I can assure you that I have read each of your words several times, to be sure to choose the best business model that is good for our investors.

Soon we will announce our new Asset, we are thinking of a group of total 5000 Amp Facility which will be about 16x of our current capacity.
We will accumulate our experiences, technologies and know-hows we absorbed from the first project in the new one.

Also we plan to divide the income of project something about %30 to new hardware and %70 to Dividends. This will have more benefit to our investors because we are paying less electricity fees so we can pay more to our stakeholders.

Also we plan to be even more transparent as before. Because, before we sold the exact device and capacity and we should not report our benefit from exchanging for example NXT to BTC or discounts we received from our hardware providers or so, But this time we promise to report all the process starting from fundraising to the device ordering and from device shipping to custom clearing and from customs clearing to device installing and from there to Monitoring, and Maintenance.

We promise to transparent as more as possible to assure our investors that your money is doing what is promised to do.

Because of this we will initiate new NXT and BTC accounts for more transparency and to assure you that The ForgeCoin V2.0 project money is not mixed with our own personal funds.

Also we promise that once NXT voting system initiated we will use it in our important decisions to find out our investors opinion about them.

We will separate the old project asset holders from the new one, because of different promises of each project, But will announce a swap formula for anyone wishes to change from ForgeCoin V1.0 to ForgeCoin V2.0

Also we will increase our management costs, because of this total transparency our benefit will be narrow, so we are thinking a percentage of %14 for it.

We will announce ForgeCoinV2.0 conditions next Monday, 22 of September Inshallah.

Please let us know your feedback about all the above,

Thanks,
Sepehr

FORGECOIN V2.0 IPO POSTPONED

SEPTEMBER 22, 2014

ForgeCoin V2.0 IPO Postponed to Next Monday, September 29.

Because of Big BTC Fall, and Bitmain Antminier new orders closed maybe because of BTC fall and to finalize some studies still not complete, and to initiate a full studied project, we postponed Part one of ForgeCoin V2.0 IPO.

We will update more information about this once it’s finalized.

DIVIDENDS PAID 9/22/2014

SEPTEMBER 26, 2014

Dividends of the week ending to 9/22/2014 paid.

This week dividends was greater than before.

There is three reason for that:

1-We had no important costs this week, so the dividends increased.

2-We have released our merge mining funds it was 0.26 BTC for several months.
https://blockchain.info/tx/a11672f37ce10c270f7385d0b9b67130b27905fb47762684486e9e794337cd32

3-we have released our backup pool funds, it was 0.049 BTC for several months.
https://blockchain.info/tx/59a022713cfd4853953c8779dba4826883a2ac9fef8884ef073e1b922841eb64

So the total amount payable was more this week.

Also on the last day of week we have received and installed 8 new S3 Antminers.

By installing these Antminers we have completed the capacity of the current site and our current Nominal Hash rate is 31.716 TH/s.

Normall we have less than that Hash rate because some of our S1 Antminers are working half Capacity, and other miners may working less than that amount but the current Hashrate that shows by GHashi.io is normally about 31.5 TH/s

We had Electricity Bill last week and we paid half of it this week and postponed the remaining to next week.Good news is that we summer is going to finish in our country and we hope that we will have few PSU failures in autumn.

Sorry for publishing this report late, But dividends paid on time.

For more information about this week Dividends please check this pdf file:
http://www.forgeco.in/download/dividends/ForgeCoin_Dividnds_9_22_2014.pdf

Thanks for the update.

OUR CURRENT LIVE HASHRATE ON GHASH.IO
SEPTEMBER 28, 2014

This is an screenshot of our current Hashrate running live by our Facility on Ghash.io.


http://www.forgeco.in/images/Hash_rate.png
Hash_rate

We have up and downs because of non-stabilities that may happen but the overall hashrate for last several days is as above.

DIVIDENDS PAID 10/6/2014

OCTOBER 11, 2014

Dividends of the week ending to 10/6/2014 paid.

Unfortunately last week we had the worst week from the start of ForgeCoin till now.

We had BTC price fall.

We had GHash.io nonstabilities.

And we had an accident in Facility.

All together results the worse performance we had ever.

BTC price fall face us with lots of problem because we should pay our local costs in fiat and for example we paid 1.21 BTC for our facility rental in May but in September we paid 2.4 BTC for same amount! exactly two times!

GHashi.io had a lot of server problem last week we are studying to see that is it because of GHashi.io itself or because of internet problems in Iran, we have Multipool.us as backup but it decreases our performance a lot.

And we had an accident also! some wires in our power post almost burned out, our Monitoring staff got it fast and we changed the cables with new better cables but it face of more down times as well.

Here is some pictures of wires took out and the new Blue wires replaced the old ones:

Burned Cables
http://www.forgeco.in/wp-content/uploads/2014/10/Accident1.jpg
 

Replaced Cabels
http://www.forgeco.in/wp-content/uploads/2014/10/Accident2.jpg

Again sorry for publishing this report late, But dividends paid on promised time.

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividnds_10_06_2014.pdf

That's really bad!  :(

But don't worry: accidents can happen and I think you have acted fast enough to prevent much greater damage! No miners were damaged and that's good news. If you can get back to the usual hashrate everything will be fine.

I also see that it's becoming colder in Teheran, that are good news too!  ;)  So cheer up, my friend!

DIVIDENDS PAID 10/20/2014

OCTOBER 21, 2014

Dividends of the two weeks ending to 10/20/2014 paid.

Unfortunately we experiencing Bad times in our history.

BTC price almost better now but we should pay the electricity bill in start of the first week.

We still experincing GHash.io non-stabilities. We may switch to another pool soon. Please let us know your suggestions for new pools.

And we had an accident in Facility again!

The Power Counter we installed early in facility was blow out one night and we experinced all night down time to early morning!

By the way we hope that next week we switch to new pool and experience better results.

Sorry that we could not paid any dividends last week!

For more information about this two weeks Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividnds_10_20_2014.pdf

Yes, No miners were damaged. and yes, Tehran wether is getting cool and that's very good. It's great that you monitor everything. Thank you! :D

DIVIDENDS PAID 11/03/2014

NOVEMBER 4, 2014

Dividends of the week ending to 11/03/2014 paid.

We have paid remaining 2/3 of Facility rental for October this week and it finished.

Also we had internet costs this week.

Eligiuis.st pool doing almost well. Just we prefer faster payments from GHash.io by the way it’s not big deal.

We had experienced an attack to our wifi hotspot at our facility last week!!!

An attacker could enter our network and using our internet connection probably to download some porno sites! thanks to god he had no idea about bitcoin mining and all our miners was intact. by the way he face us with a 8 to 10 hours downtime! Very sorry for that.

Now we hide our SSID and used very difficult pass phrase, hope that it will be very more secure.

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividnds_11_03_2014.pdf

DIVIDENDS PAID 11/10/2014

NOVEMBER 18, 2014

Dividends of the week ending to 11/10/2014 paid.

We have paid remaining 2/3 of electricity power costs this week.

Left 1/3 of electricity costs for next week.

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividnds_11_10_2014.pdf

DIVIDENDS PAID 11/17/2014

NOVEMBER 18, 2014

Dividends of the week ending to 11/17/2014 paid.

We have paid remaining 1/3 of electricity power costs this week.

Also we have left 1 BTC as liquidity reserve this week.

This reserve will help us to manage better in unplanned situations.

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividnds_11_17_2014.pdf

DIVIDENDS PAID 11/24/2014

NOVEMBER 25, 2014

Dividends of the week ending to 11/24/2014 paid.

We have paid Monitoring Staff costs for November.

Also we have ordered an S3 Control Board from Bitmain, because one of our S3’s Boards had problem as is not mining now.

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_11_24_2014.pdf

I like this but i simply dont understand how to get it done could some PLEASE send me PM on how to do this because, i am willing to invest in this.

Do you have a Nxt client installed? You could buy assets with NXT directly in the client (Asset Exchange).

Or you can invest with BTC here: http://www.secureae.com/ (http://www.secureae.com/)

I think you can also invest directly on forgecoin's website: http://www.forgeco.in/ (http://www.forgeco.in/)

What is this "extranonce" all about? I understand that it's a new feature of cgminer, but what does it do?  ???

https://bitcointalk.org/index.php?topic=850620.0 (https://bitcointalk.org/index.php?topic=850620.0)

DIVIDENDS PAID 12/01/2014

DECEMBER 2, 2014

Dividends of the week ending to 12/01/2014 paid.

We have paid 2/3 of Facility Rental for for November this week.

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_12_01_2014.pdf

I will check it and update once have more info. Thanks for reference.

DIVIDENDS PAID 12/08/2014

DECEMBER 9, 2014

Dividends of the week ending to 12/08/2014 paid.

We have paid remaining 1/3 of Facility Rental for for November and 2/3 of last bill for electricity costs this week.

This week costs was a lot so we used 1 BTC reserved liquidity this week.

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_12_08_2014.pdf

CryptoZin Announcement took place!

Target is simple! Everybody with a smartphone, should have the ability to own/send and receive cryptocurrency safe.

Everybody can send cryptocurrency to anybody simply knowing his Mobile number!

Please contribute:

https://bitcointalk.org/index.php?topic=894244.0

DIVIDENDS PAID 12/15/2014

DECEMBER 16, 2014

Dividends of the week ending to 12/15/2014 paid.

We have paid remaining 1/3 of last electricity bill also we have repaired 6 PSUs.

Recently we had rare PSU problems because having cold weather in Tehran. So after several weeks without requirement for PSU repair this week we have repaired PSUs that was failed in this long run.

Also this week we have announced a sister project called CryptoZin, Please check it and let us know your opinion. (http://cryptozin.com/)

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_12_15_2014.pdf

Integrating @CryptoZin with @SuperNETorg any supernet user can send crypto to any Mobile holder.

https://twitter.com/CryptoZin/status/546186995651727361

Please visit http://cryptozin.com/ for more information.

DIVIDENDS PAID 12/22/2014

DECEMBER 23, 2014

Dividends of the week ending to 12/22/2014 paid.

We had no important costs this week, so we increased our reserve liquidity to 1 BTC again.

Please consider studying and investing our sister project CryptoZin:

http://cryptozin.com/

The project is going smooth and we hope that we can update more about it soon.

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_12_22_2014.pdf

DIVIDENDS PAID 12/29/2014

DECEMBER 30, 2014

Dividends of the week ending to 12/29/2014 paid.

We had several PSU fail this week and also we paid monitoring staff costs for December, so we used half of our reserved liquidity.

Please still consider studying and investing our sister project CryptoZin:

http://cryptozin.com/

The project is going smooth and we hope that we can update more about it soon.

For more information about this week Dividends please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_12_29_2014.pdf

Missing last week's dividend payout!

I guess you are waiting for a better BTC rate?

I do not think. In July we had 1 Btc =$600, we would be waiting since then for a better rate.

DIVIDENDS OF 01/12/2015

JANUARY 13, 2015

Unfortunately there  is no good news in BTC mining era! And we assume ourselves fortunate that we have not started ForgeCoin V2.0 on BTC mining.

Yesterday we have sold BTC at about $260 each to cover our costs! Today it’s about $220 each!

Yesterday was the last day for electricity bill dead line and we have paid 3.07 BTC for electricity! this amount was 1.3 BTC per month when we started!

Also we could cover only 1/4 of the facility rental for December costs and owe 3/4 yet while it is 13th of Jan!

We don’t know how much we can continue like this! We have no dividends to pay after two weeks and still owe 3/4 of our last month rental fee!

Sorry for bad news! And hope for better futures.

For more information about this two weeks Report please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_01_12_2015.pdf

Those are really bad news!

How do you want to handle the situation? Do you want to stop the miners until mining is profitable again? But what about the rental fee?

 ???  ???  ???

We still not planned to stop anything, we think that the price could not remain in this level! Either it goes up again or bitcoin may crash! We will wait until end of Jan to see what's happening. :(

DIVIDENDS PAID 01/26/2015

JANUARY 27, 2015

We had better performance last two weeks.

We keep 1 BTC as liquidity and paid 3/4 of rental fee for December.

We hope that the price keep above $300 more.

For more information about this two weeks Report please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_01_26_2015.pdf

Very good, and 6% mining difficulty decrease today will help as well!  ;D

DIVIDEDNS PAID 02/09/2014

FEBRUARY 10, 2015

Divideds of the two weeks ending to 02/09/2014 paid.

Again we had better performance last two weeks.

We have mined a total of 5.26 BTC in last two weeks. And that’s %22 more than last two week and that’s because bitcoin network difficulty slowdown.

We have paid more than 3.12 BTC for electricity costs, FYI in start of project we are paying 1.3 BTC each month for electricity costs! And that was in summer which electricity costs was more and now in winter which electricity costs are lower we are paying lots more in BTC for same period!

Also we have paid internet costs and monitoring staff costs for January.

Unfortunately we could not hold any liquidity for next cycle.

For more information about this two weeks Report please check this pdf file.


http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_02_09_2015.pdf

DIVIDENDS PAID 02/23/2015

FEBRUARY 25, 2015

Dividends of the two weeks ending to 02/23/2015 paid.

We have paid 3/4 of Facility rental for Feb. And repaired 10 PSUs in this period.

We could held 0.5 BTC as liquidity for next cycle.

For more information about this two weeks Report please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_02_23_2015.pdf

DIVIDENDS PAID 03/09/2015

MARCH 10, 2015

Dividends of the two weeks ending to 03/09/2015 paid.

We have paid remaining 1/4 of Facility rental for Feb and cleared Monitoring staff payment for Feb, also we have paid  also we could paid 1/4 of last Electricity bill.

Our held liquidity for next cycle is : 0.00 BTC

For more information about this two weeks Report please check this pdf file:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_03_09_2015.pdf

REPORT FROM 03/09/2015 TO 04/06/2015

APRIL 22, 2015

Unfortunately our calculations shows that we cannot pay any dividends in this period of one month from 03/09/2015 to 04/06/2015 .

We had last month of year and we had electricity bills and we had facility rentals and we had Internet costs and PSU repairs all together.

In last month of year we should pay more to our staff and we forced to borrow About $1000 to cover our costs in this period.

We have double checked our calculations as promised and here is our report for this period:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_04_06_2015.pdf

REPORT FROM 04/06/2015 TO 04/20/2015

APRIL 22, 2015

Unfortunately we cannot pay any dividends again and we don’t think that we can pay it in next few weeks or even months, if the price of BTC remains in this range .

We forced to increase our borrowed amount to about $1400 to cover our costs in this period.

We still hope that something change and keep miners run.

Here is our report for this period:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_04_20_2015.pdf

REPORT FROM 04/20/2015 TO 05/27/2015

MAY 27, 2015

Still bad news from FrogeCoin!

Our debt is increasing! From $1,335.84 on 04/20/2015 now it’s increased to $2,036.53 . We just hope that if the price of BTC increasing we can pay our debt otherwise we should stop the miners and stop this business.

Here is our report for this period:

http://www.forgeco.in/download/dividends/ForgeCoin_Dividends_05_27_2015.pdf

JUNE 2015 REPORT

NOVEMBER 28, 2015

Sorry a lot because of long time, no report.

That was because we had lots of debts and we even wanted to close the business, but according to recent days rise of BTC price we will post old reports to update the project status.

On June 2015 we had to pay two months of everything because it was postponed a lot. we had paid two months for electricity, rental costs and staff costs. Our total debt after this month was
$4,991.33.

Here is our report for this Month:

http://forgeco.in/download/dividends/ForgeCoin_Dividends_06_30_2015.pdf

JULY 2015 REPORT

NOVEMBER 29, 2015

On July we have mined 7.04 BTC.

We had paid all charges and at the end we had a total of $4,586.73 debts.

Here is our report for this month:

http://forgeco.in/download/dividends/ForgeCoin_Dividends_07_31_2015.pdf

AUGUST 2015 REPORT

NOVEMBER 29, 2015

On August we have mined 6.60 BTC.

We had paid all charges and at the end we had a total of $5,632.65 debts.

Here is our report for this month:

http://forgeco.in/download/dividends/ForgeCoin_Dividends_08_31_2015.pdf

SEPTEMBER 2015 REPORT

NOVEMBER 29, 2015

On September we have mined 4.15 BTC.

Also in this month our main cooler device failed and we bought a new one. And one reason that the amount of mined BTC reduces is that we could not run devices at the times that we had no cooler.

We had paid all charges and at the end we had a total of $7,023.26  debts.

Here is our report for this month:

http://forgeco.in/download/dividends/ForgeCoin_Dividends_09_30_2015.pdf

OCTOBER 2015 REPORT

NOVEMBER 29, 2015

On October we have mined 5.02 BTC.

We had paid all charges and at the end we had a total of $7,920.06  debts.

Here is our report for this month:

http://forgeco.in/download/dividends/ForgeCoin_Dividends_10_31_2015.pdf