I look forward to seeing how this progresses. Seeing how you are going to IPO for a little over 3x the sum of the 3 largest mining companies on GLBSE, it'll be interesting to see how the market absorbs this potential investment.
I'm curious, what is your plan while selling all 200,000 shares? I ask as 1 BFL Mini Rig + enough solar panels to run it is around $22k that that doesn't include the land needed for the panels and a roof over the Mini Rig's head. So, how will you be proceeding? Gradual rollout or wait for all 200,000 shares to sell?
Probably not all 200k shares, but at least enough of them to do something with. Do you have a specific plan or are you rolling it as you go? It helps to lure investors when you have an actual plan with return numbers besides the "if all 200k shares sell now" plan. I'm not sure what you mean. The plan I think you're referring is in the op post. |
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I look forward to seeing how this progresses. Seeing how you are going to IPO for a little over 3x the sum of the 3 largest mining companies on GLBSE, it'll be interesting to see how the market absorbs this potential investment.
I'm curious, what is your plan while selling all 200,000 shares? I ask as 1 BFL Mini Rig + enough solar panels to run it is around $22k that that doesn't include the land needed for the panels and a roof over the Mini Rig's head. So, how will you be proceeding? Gradual rollout or wait for all 200,000 shares to sell?
Probably not all 200k shares, but at least enough of them to do something with. |
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Added. It just barely beats the BFL single, but doesn't beat BFL minirigs. you might also want to add that the price of that board will be double or $1280 from what I can tell, if its not ordered before June. Heh, if it is, then why are they bothering to produce it, no one will buy it. Why do you say that? Ztex's quad is $1359 and people are buying it..... BFL's is the same mhash for half the non-preorder price of that Enterpoint board. Thats why I say that. |
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Added. It just barely beats the BFL single, but doesn't beat BFL minirigs. you might also want to add that the price of that board will be double or $1280 from what I can tell, if its not ordered before June. Heh, if it is, then why are they bothering to produce it, no one will buy it. |
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Added. It just barely beats the BFL single, but doesn't beat BFL minirigs. |
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The IPO has been submitted to GLBSE, but they now have a minimum wait time of 3 days.
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Just wondering.... why didn't you include the X6500 in this? also Lancelot isnt released yet as far as I know so nobody knows what mh/s per watt its going to be. nzghang himself says their goal is over 500 mh/s but he doesnt know yet... Btw eldentyrell said something about releasing his new bitstream near the end of the month which would boost performance of all Spartan 6 boards that can handle the extra power and cooling requirements.... Whats the $, mh, and w for the X6500? I'd like to add it. |
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Okay, I ended the IPO amount poll 10 hours early.
25k BTC - 48 (35.8%)
50k BTC - 23 (17.2%)
100k BTC - 31 (23.1%)
250k BTC - 11 (8.2%)
500k BTC - 4 (3%)
1m BTC - 17 (12.7%)
Average comes out to 203k. I guess 200k isn't so bad. The ride is going to be much rougher, though.
Diablo Mining Company: the $1m USD Bitcoin Startup.
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Okay, so, I ended the poll about 10 hours early.
25k BTC - 48 (35.8%)
50k BTC - 23 (17.2%)
100k BTC - 31 (23.1%)
250k BTC - 11 (8.2%)
500k BTC - 4 (3%)
1m BTC - 17 (12.7%)
Average comes out to 203k. I guess 200k isn't so bad. The ride is going to be much rougher, though.
Diablo Mining Company: the $1m USD Bitcoin Startup.
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BFL-Singles may even be using second-hand used chips explaining there six month only warranty. Also I've thought about green electricity for Red Star Mining. I can get 100% green sourced renewable electricity supplied for around £0.134kWh. a) Holy shit, thats 0.2166 USD kwh. You are getting raped over there. b) Thats not quite the same as generating your own power and selling the excess to make your investors more money. |
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I've started a channel on Freenode, #dmc
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His strategy" depends on many IFs
- if the price of BTC goes up
- if BFL delivers before August
- if the Mini Rig does what was promised and just works
- if the gold wouldn't have done better
- if the BTC goes up after block reward is halved
Classic rule of three, any scheme that requires more than 3 different things to happen will never work in real life. That said, kudos for considering it anyway. I'd probably take a shot if I had that sort of cash lying around. I thought that was the rule of two? |
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Could somebody please explain to me why an investor would want to pay towards property, tax, security, insurance, staff (what, this is a one man operation?) When you can just invest in multiple smaller (yet still quite large) operations and not deal with any of this?
The assumption that the price of BTC will double when difficulty goes up is also quite ridiculous. It's not like the exchanges are always low on stock or that they only have coin that was freshly mined that day.
I can only see this being attractive if you have more BTC than can be invested in all other miners on GLBSE combined, in which case your name is probably pirateat40.
Taxes will be paid no matter what. If these existing mining operations are not paying for taxes, well, I'd hate to be them when the IRS comes. Same goes with insurance, you _require_ it, period, end of story. The one thing I'm offering that the other mining operations are not offering is large scale power generation to offset operating cost and provide a secondary revenue stream. I imagine that most of these mining operations will be out of businesses in less than 4 years, while mine will still be here. |
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If difficulty rises, it's nearly always better to have a lot of hashing power as fast as possible (--> GPU). - Most important: USD per MH/s when buying
If it is stable or goes down, it's better to have the most efficient miners possible. - Most important: MH/s per Watt when running
There are also better GPUs for USD per MH/s than 7970s I think.
Well, thats the thing, GPUs are not merely the cost of the GPU itself, you now require a mobo+cpu+mem+psu(s) per 4-6 GPUs. Even that massive 18 slot rig that everyone is drooling over, that PCI-E backplane is expensive. You have to take in the WHOLE cost of assembly. With FPGAs, all I do is plug the power in and plug the USB in, the entire farm can be ran off of one box running bitcoind. Due to this fact of the additional cost of hardware each individual slot is very expensive... which means you're stuck putting as much mh into a slot as possible, which means throwing in 7970s (but not 7990s due to the "dual gpu cards always suck for overclocking" rule). And all the currently shipping products? They're all basically equiv in mh/w (except for bfl singles that use twice as much power per mh for no good reason). |
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I''ve just updated the plan to switch from ZTEX to BFL.
Why put all your eggs in one basket? Don't get me wrong, I'm trying very much not to. But the price difference per mh is just so damned big that the other solutions just priced themselves out of the market. It irks me to single source parts to no end. |
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