As others here have stated, eventually ROI for Bitcoin mining will approach infinity and be owned by individuals who can never reasonably expect to make their original money back. Perhaps later, when they petition the government or lobby for forced transaction fees in the leading Bitcoin clients, they will have some power.
Right now, while mining is still profitable at all and we are under a 2 year ROI, there doesn't seem to be any reason not to mine if you can afford to. What ASIC design is going to do is make the design a lot of money. Actually buying the miners and mining once ASIC is out is going to be one of the worst financial decisions you can make (unless you can run an entire farm at the cheapest or free electricity rates).
This is exactly why BFL et all should price their products to only have a slightly better ROI than GPU's. Otherwise they simply fuck over their own market. |
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Attention all current shareholders: If you could, please setup an account on GLBSE and then ask us to transfer your shares over. Going forward, it is going to be very cumbersome to pay dividends on GLBSE as well as to holders not holding their shares there. Basically, we would have to pay every holder twice.....once on GLBSE, then transfer the dividend again to your individual addresses for the shares held in trust. You can either PM us with your GLBSE account name, or e-mail us at Bitcorpmining@gmail.comEDIT: Front page has been updated with current financials, expansion plans, as well as info on our NEW location. May financials will be posted soon. |
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Dividends have been paid for May.
the rate was .015 BTC per share (formerly .15 BTC, prior to stock split)
How does this share split work for us on GLBSE? Should I send you my shares and you send 10x back or how does this work? //DeaDTerra DeadTerra, I already transferred your newly issued shared to your account.....you should have the exact same ownership percentage as you did before. Simply take your new total divided by 10,000 for verification. Thanks! |
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You go around adding BFLs and video cards to everything you can touch, don't you yochdog. lol
I am hitting it hard while I can! |
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out of curiosity, why even make this offer? Why not wait 14 days and make the money yourself?
This has been hashed over numerous times on the boards.....there are many reasons. |
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on of my rigs:
4,600 MH/s
955 Watts at the wall
4.81 MH/w
3x BFL singles
2X 7970
I run dual hex-core XEONS, so that takes the efficiency waaaaay down.
the 7970's are dialed in at 3.08 MH/w though....which is awesome.
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I think our only hope is that the ASIC manufacturers think rationally about the future market for their product, and do the following:
Price their respective ASIC's to be cheaper on a $/GH, but not by very much. This will discourage a mass stampede of miners extrapolating imediate results out to infinity and therefor crushing all mining profitability.
I think of it this way: I can buy 100x 5970's and the corresponding hardware for lets say $35,000 and generate 70 GH/s. Thus I am paying $500/GH. If I can go buy an ASIC that gives me the same 70 GH/s for $20,000, myself and every other miner of means is going right out and buying it. In doing so, we ensure our own destruction.
The only thing that will prevent this is keeping the projected ROI on new ASIC investment relatively close to that of GPU's. It is better for the ASIC manufacturer (higher profit), as well as all miners (sustainability). It is a rare win/win.
I hope the BFL boys have thought this through. Keeping GPU miners around is in their best interests.
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Bump. Reading through this thread, I've already been filled with self-doubt.
lmfao. |
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can I still buy some of these condoms?
THANKS!
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Few extra grand in my pocket and a wealth of computer hardware knowledge obtained in the past year --> soooo stupid.
Get out before you get eaten alive.
you built some mediocre mining rigs and chatted with a few energy drink addicted college kids who are supported by the successes of their parents for the most part. not impressed. I built some mediocre mining rigs from scratch having never touched the inside of a computer before in my life. I invested in precious metals (purchased with BTC) to add to my BTC investment. Hence, I have created a small investment portfolio. Because of BTC, I have now tasted the world's hottest pepper, have donated money to charity, have become more familiar with tax laws and other banking/financial legal jargon, have two Bitcoin condoms with which I can bang the incredibly hot girl I'm dating (after that, we can play naked Bitcoin ultimate frisbee), have ample heat during the long Midwest winter free of cost, have been paid for Bitcoin-related services and products, have conducted international business transactions in the middle of the night, and I'm basically guaranteed to be rich if Bitcoin really turns the mainstream corner. Soooo stupid. This. This x100. Every single piece of this paragraph is perfect. Hey you dumbfuck OP.....I took an 11,000 BTC loan, collaterlalized with my epic mining farm and purchased a large equity stake in a 47 year old, highly profitable business....which coincidentally yields 20-25% per year. That was pretty stupid, I know. Hey Joint, where can I get some of those condoms?? Not that I need them, my wife lets me bang her bareback.....I just want to display them, having paid with a stupid game for nerds. |
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Dividends have been paid for May.
the rate was .015 BTC per share (formerly .15 BTC, prior to stock split)
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UPDATE
We have a good idea of what our May production will be, and all I can say is "wow".
We are going to have gross proceeds of nearly 600 BTC, absolutely smashing our expectations. We will get final numbers in the next week or so.
The stock split will occur tonight, and dividends will also be going out later today.
If you have any concerns, please let us know.
And PLEASE start trading on GLBSE.....we need to get some volume going. Symbol is BTCMC.
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Sale pending to gigavps, all 3 rigs for $2850 not including shipping.
Is that the final offer for the whole farm? Not parting anything out.
I made a mistake and actually do not have 7.5GH currently. I am not selling the 6950 which was factored in or the 5970 that will be going out for RMA.
Getting everything packaged and ready to go, Thanks gigavps for a quick sale!
Should have waited for more bids my man. I would have gone 3K for all 3 rigs. The total deal is $3,175 in BTC. There was another 5970 I left out in my calculation. Maybe next time yochdog! PS - I bid $3,176.... |
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Sale pending to gigavps, all 3 rigs for $2850 not including shipping.
Is that the final offer for the whole farm? Not parting anything out.
I made a mistake and actually do not have 7.5GH currently. I am not selling the 6950 which was factored in or the 5970 that will be going out for RMA.
Getting everything packaged and ready to go, Thanks gigavps for a quick sale!
Should have waited for more bids my man. I would have gone 3K for all 3 rigs. The total deal is $3,175 in BTC. There was another 5970 I left out in my calculation. Maybe next time yochdog! Good lord, OP needs to get his numbers straight! |
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Sale pending to gigavps, all 3 rigs for $2850 not including shipping.
Is that the final offer for the whole farm? Not parting anything out.
I made a mistake and actually do not have 7.5GH currently. I am not selling the 6950 which was factored in or the 5970 that will be going out for RMA.
Getting everything packaged and ready to go, Thanks gigavps for a quick sale!
Should have waited for more bids my man. I would have gone 3K for all 3 rigs. |
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I will give you 215 BTC for rig #1
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You're the one making the claim, so it's on you to prove your claim, not me. I'm not trying to pick a fight with you, but given your track record of making "factual" statements based off of flawed second hand information, unless you can provide some proof to this claim, it's bunk. Just because a friend of a friend told you it was law does not make it so.
Ok here is one for you: Does PayPal permit transactions for pre-sale items?
Pre-sale items are advertised for sale before the seller has the items. Often, these items are sold before they are available to the general public. Or, the seller uses the funds from the sale to purchase the item that has already been sold.
PayPal permits pre-sales on a limited basis, only if the seller guarantees delivery within 20 days from the date of purchase and clearly identifies the item as a pre-sale. PayPal may apply additional conditions, such as proof of the seller's ability to successfully deliver the product: supplier information, purchase invoices, postal information or proof of delivery. https://www.paypal.com/helpcenter/main.jsp;jsessionid=5BF2PGnW8vHvJD7Nn7c6vZyVCZtqSwlyy9sv8QGJg5gXhh504Ly4!1268435979?locale=en_GB&_dyncharset=UTF-8&countrycode=GB&cmd=_help&serverInstance=9014&t=solutionTab&ft=browseTab&ps=solutionPanels&solutionId=163756&isSrch=Yes100% Violation of Paypal policy, and BFL does take paypal. I'm sure further searches on pre-sales will turn up relevant laws. But I am done with the topic. Stop trying to attack my credibility and I'll stop posting facts you don't want to hear. Now this is interesting. |
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Actually you wanna hear crazy, I found it using the search function in the cgminer thread. True story.  nice. I tried some word strings......could not find anything. |
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Freebie. The only reason I knew is I had to find out the same thing like two days ago. That is wild......how on earth did you figure it out? thanks man, much appreciated. |
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