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I see the biggest risk to ASICMINER being the value of BTC/FIAT and the ability overall to get BTC converted to fiat via exchanges which are coming under pressure. That is because its ability to maintain a payout is very much depedent on maintaining its percentage of the total hashrate. This requires continous conversion of BTC earned to FIAT to be used to purchase the equipment to make these ASIC miners.
If the value of BTC drops significantly, more BTC will be needed to pay for the same increase in hashing power meaning a divident drop. Also, if it becomes more difficult to convert BTC to fiat due to the exchange issues with withdrawing FIAT, then hashing power will drop from lack of new asic equipment and so will the dividend.
The ROI assuming a constant dividend on ASICMiner justifies a significantly higher share price if the BTC/FIAT ratio remains stable and these issues of converting BTC to FIAT do not worsen.
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Purple, do you agree to TAT for escrow? John K has not replied in 24 hrs
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John K has not replied to my PMs to setup an escrow. Is there another escrow we can use?
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I am still waiting on John K to reply to my PM
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I sent John K a PM, will fund escrow as soon as he replies and gives me information
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Hi,
I can do this for you. It will be for the 24 hr average Mt. Gox price + 10%. For example, for 1btc THE amazon card at current 24hr avg Mt Gox price of 108.61 will be ($108.61 -$10.86 ) = $97.75 Amazon Gift Code. Let me know if you are interested.
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purple, please make it 19 @ 3.0
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Actually, I think the 2 @ 3.0 bid was retracted.
Ok, I will revise my bid to 17 @ 3.0 with JohnK.
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29 @ 3.0 - escrow with John K
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To Pangia: In a period of 10 minutes. That is all the time it takes to buy on bitstamp, transfer to Mt. Gox, Sell on Mt. Gox - now your cash sitting in Mt. Gox and you can either wait 2 weeks and withdraw it in USD, or withdraw now in euro and convert at 0.5% to USD using another service.
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So Mt. Gox has frozen USD withdrawals for 2 weeks and this has caused a great Arb opportunity. You see, people with lots of USD on Mt. Gox are afraid they will lose their USD cash and are buying bitcoins there at any price, transfering them to bitstamp (and to a lesser extent the other exhanges) and selling them on bitstamp at a 10%+ discount to Mt. Gox prices.
How to take advantage? Well, Mt. Gox still allowing withdrawals in other currencies (EUR) and it will allow USD withdrawals again in only 2 weeks. So wire money to Bitstamp, by BTC at 99 USD, transfer BTC to Mt. Gox, then sell at 111.5 USD (or the euro equivalent). Now you just made a $11.5 USD profit per bitcoin which is 12.5%. Take out 1% in trading fees and that is 11.5%. 11.5% profit and all you have to do is not have access to your USD for 2 weeks? Pretty good return on investment!
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purple, my 2.8 offer for all shares immediately is good until 4am board time (then I'm going to sleep and just keep the 2.7 bid)
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50 @ 2.7 via JohnK
I will pay 50 @ 2.8 immediately if you are willing to end the auction now.
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I was actually thinking since I am a gamer and my machine already old, I will get 4X7970s running in Quad-Crossfire, actually put on a decent ram and CPU anduse it for gaming and have it mine novacoins and litecoins in the meantime. If it pays for itself in a year that way, I would be pretty happy with that. Unfortunately, I do pay for my own power. Also, I see everyone saying 7950s, but what about 7970s or even the new 7990s?
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Hello,
I am fairly new to bitcoin only buying my first ones on Coindesk and CampBX starting in mid-March. I doubled up after the April crash and put some away in cold storage. I was looking into mining but have come to the conclusion that with ASICs so hard to purchase (not pre-order) at a rate where there would be even a prayer of a reasonable return, that maybe a GPU miner a better way to go.
I am looking at some mining machines with 5 7950s and optimized over-clocking/cooling solutions which run about $3400. My thought is to mine either litecoins or novacoins and then exchange them to bitcoins on an exchange like btc-e or virucex. I am not sure if anyone else has investigated doing this and if so, if this is a viable way to mine bitcoins indirectly for those with us way too far behind in the ASIC race?
Thanks,
Mechs
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