Is that supposed to be a joke? MPEx is a scam site that is about to be shut down by the FBI. All the volumes on their are manipulated and users are leaving it in increasing numbers. The owner is being actively investigated by the SEC - it is a matter of time before he is extradited.

We should make money even with btc averaging 300 dollars over the next 5months - but yes a rally will help us no end. Only benefit to btc where it is could be smaller difficulty increases. BTW stop stealing my top of the pops patter, get your own.

If btc gets to ten dollars it will be dead and not worth buying. You keep making bad investment decisions?!

Buying actm was not a bad decision, putting all your coin on one horse was.

So you are not as broke as you keep suggesting you are.

Bitlind, clearly the point is we have limited resources, they have been directed towards getting purchased hardware online and hashing, now Ken is focusing more on shipping and refunds as the DC seems to be progressing well. We don't have 100 staff and neither can we afford to hire them. The shipping should have happened by now, there is no excuse for customers waiting for their products. I agree we should not be selling miners if the shipping promise can not be met - but it seems that is now being given the priority it deserves.

As stated by PurpleTentacle above it's impossible to know - another unknown, dynamic and pretty crucial factor is the price of BTC.

If you use this calculator you can run through various scenarios:
http://www.vnbitcoin.org/bitcoincalculator.php

You can see that if for example a Gold board costs us $500 to buy/build and host for 2 months and BTC is at $300 it will break even after 52 days (difficulty increase 15%).
The total profitable lifespan of a 750GHs Gold miner (with BTC at $300) is around 160 days making a total of $780 (after electric costs). So with economies of scale and after hosting costs we could make around 50% profit on each card with BTC at $300.

In other words we start with $1 and end up with $1.5 after around 5 months.

If BTC is not at $300 and is instead at $750 we can mine profitably for longer with the same miner - 240 days. In that time the machine makes $2660 so after hosting costs we would make around $2400 profit on each card. So Starting with $1 and ending up with $4.8 after 8 months.

So BTC price has a huge impact on our profit margins.

I'm not sure that there are any explicit laws against a 'private money' in the UK and if there were Bitcoin could not be put into such an illegal class as it is a global decentralized digital currency - laws to actively ban BTC do not exist because it is a new and unique technology.

Having said that it seems this article wound suggest a private currency/money tag would benifit not hinder Bitcoin:

http://www.coindesk.com/uk-tax-authority-hmrc-reclassify-bitcoin-private-currency/

The proposition is that Governments do not want to ban digital currency but tax and control it which is a far more effective control. If they tried to ban BTC at this point without sufficient cause there would be a huge backlash and their attempts would be very unpopular. Which is why failures like NB provided regulators and legislators with the perfect conditions to implement popular and restrictive controls.  

NEW ENTRY at NO. 9 on Eligius!

This weeks new entry in at No 9 is from VMC.

TOP OF THE POPS!

It took BTC just over 3 weeks in November to go from previous high of $260 to close to 5x that.

There's nothing wrong with being Bullish on Bitcoin! 

750GH/s for 1.5k USD is good. If you run this machine for 6months and BTC averages $750 over that six month period the profit will be around $4,555 and break even is around 50 days.

Can you prioritize shipping Ken? I know it's not yet a big part of our business but if you don't get boards shipped out promptly after an order is taken then people will rightly be disappointed and sales won't take off as they should because of the resulting negative feedback. I'm sure you are more than aware that a sold miner is instant payback and generates instant profit that can go back into expanding the business. Ta.

Well all you can say is that money has come out of the ACtM Wallet. This may have gone to a supplier and as we need to pay suppliers I think that's the most likely answer. Boards and chips don't come for free.

Everything is traceable as you have shown. If the financials when we see them don't corroborate these balances, payments and movements of funds we will be able to see that. I'm afraid with ANY company which has the CEO as acting CFO you need to trust that individual. You invested in Ken so you placed your trust in him.

lol

I only have 1k of NeoBee but agree it seemed such a professional outfit I would have gladly put 30% into them even very recently.

There are about 3 or 4 regular Trolls on here and they are very active.

The main Troll sponsor and poster is Mirceau Popescu - he runs a bitcoin exchange called MPEx. Anything and everything that could draw coin away from his site is Trolled. It doesn't matter how valid the proposition or company, he and his goons will Troll it.
Without them here you could have a sensible debate and present your case but it turns to delinquency when they are around and before you know it your thread is a joke.

If you are passionate about this you could try again with a self-moderated thread and monitor and delete Troll posts. It will work eventually.
Personally I don't see why you need to raise BTC - this to me seems to be a FIAT business. Sure there could be a community here willing to back a music festival but you need a fairly self-modded thread to build trust and have a discussion.

People on here are grown adults and despite what the Trolls claim to be acting for (to warn people off scams) the guys on here are old enough to make their own decisions after having and reading the debate. Ofcourse the Trolls are not here to protect anyone apart from themselves and their failing MPEx. With a CEO about to be arrested and extradited who could blame users of MPEx from jumping ship.

[my emphasis]


Indeed and I mentioned this recently. You could argue ACtM has proven to be the best of a very bad bunch, we are still trading and still solvent - in this space that is sadly very rare.

Still in 10th place on the chart run-down though. If we get a new entry at No. 9 then we can celebrate. We need more College Radio plays.

Come on VMC dispatch team, we should be doing much better than this.

We have gone  TOP TEN on Eligius!!!

TOP OF THE POPS!!!!!

What do you mean by 'better'?

They are not so different I wouldn't think, price goes up or down,  except with BTC  there is only supposed to be a one way major trend created by exponential take up. It should behave more like a small cap  rather than a currency.  Forex pa is cyclical. Forex pa is also more predictable due to the study of historical charts being available and also everyone agrees on what news should move a pair. 
Allegedly 95% of retail forex traders wipe out their account and if most BTC holders hold, the success rate will be much higher.