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1741  Economy / Securities / Re: Red Star Mining - going ASIC on: June 27, 2012, 02:06:10 AM
senbonzakura thinks the motion about saving dividends towards a ASIC wasn't worded correctly and as it went against him wants it running again.  So I'll put the motion back up within 24hrs to run until next Wednesday as follows.

Yes: vote save all mining profits and any dividends until we have paid for a ASIC

No: vote don't save any mining profits or dividends towards a ASIC pay weekly mining profits in a weekly dividend instead.

If we don't save the weekly mining profits towards a ASIC we will have to wait for the current ~150 shares below our 0.40btc offer to sell.  Then sell ~450 shares from our holdings at 0.40btc before we can pay for an ASIC.
1742  Economy / Securities / Re: Red Star Mining - going ASIC on: June 27, 2012, 01:55:06 AM
I plan on buying shares privately from RSM holdings at 0.40btc meaning we could order an ASIC within ten weeks and by then we will have the option of looking at OpenBitASIC.
1743  Economy / Securities / Re: Red Star Mining - going ASIC on: June 27, 2012, 01:00:17 AM
Simple, question, it seems like 1 day does not go by without you deciding to change direction. Initially it was bfl, then mod miner, now back to bfl. Yes getting returns for investors is good, but if motions change on a weekly basis it is not good.

People are investing on what your promises are. And they (your promises) keep changing. One week a dividend. Next week dividends are being saved up until a bfl is ordered.

What is the plan with the mod miners now? What will happen once you order a bfl ASIC but it then happens to be delayed by 3+ months, especially if you are not in the set of orders this week? Openasic is nice but nothing has been seen of the hardware and who knows what will happen. It cold be 6+ months under your plan for people to receive dividends again. Buying a bfl ASIC bond is better value for money at the moment.

I'm glad I sold out of my shares a while ago, as things are changing too reactionary for me.

Btw, I have a mod miner, and do have new bfl hardware ordered (but do not expect to see it in oct).

Phil

Well we have 1.68GH/s of mining power and over 108btc saved.  The motion went in favour of saving all mining profits until we have an ASIC.  The motion was open to all investors.  Investors are not loosing weekly profits from mining but investing them in to an ASIC.  Meaning we have to sell less shares to buy more hardware increasing their MH/s in the process.  Yes we could of paid a very health dividend and attracted more share sales but investors voted on saving there weekly dividend towards at least a 40GH/s ASIC  If we don't sell any of the remaining 497 shares at 0.40btc it will take us another 17weeks of saving mining profits to purchase an ASIC.  Since you own FPGA's and have ordered ASIC's then good for you but this company was set up for micro-investments from people who don't have the funds to spend thousands of dollars on FPGA's or ASIC's.  All I took was 75 shares from 2300 as payment for running the company
1744  Economy / Securities / Re: Red Star Mining - going ASIC on: June 26, 2012, 09:53:20 PM
We have currently paid for two 840MH/s FPGA that have yet to be delivered but we have received a $200 refund because they are late and the supplier has loaned us 1.6GH/s of mining power until there delivered.  497 shares remain at 0.40btc and we currently have 107btc and are earning about ~6btc a week towards an ASIC.  We may buy a BFL-Single 2nd hand so we can trade it in for an BFL ASIC at a later date after mining on it for now.  Although that ties us into buying a BFL-ASIC and OpenBitASIC look very interesting and promise an EU seller so no import taxes.  If we don't sell any of those 497 shares at 0.40btc then it would take us up to 18 weeks saving all mining profits until we can order a BFL-Single-ASIC but lets see what OpenBitASIC can deliverer (if we don't buy a 2nd hand BFL-Single-FPGA for trade in). 
1745  Bitcoin / Hardware / Re: BitForce SC - full custom ASIC on: June 26, 2012, 07:11:08 PM
Not sure if this has been answered yet or not but when will you start accepting paypal for pre-orders I need to upgrade and the only way i personally feel comfortable is with paypal and through my credit card?

Why do you want to scam the BFL merchants by chargeback Huh

Bad !

Use BTC and bank wire only so you can get screwed hard !

I know with them not taking PayPal for ASIC pre-orders makes me think there very worried about charge backs.  So either the device won't ship until 2013 or they are going to cut the specs considerably.  I'm thinking of waiting for OpenBitASIC - (https://bitcointalk.org/index.php?topic=76351.0) - to start taking pre-orders before putting any money on the table.
1746  Economy / Securities / Re: Red Star Mining - FPGA company - 1.81565MH/s@0.21739W per share to be paid on: June 26, 2012, 06:28:35 PM
Motion text
Continue buying more FPGA's that won't be delivered maybe until September or wait until October to order ASIC's. Yes: continue buying FPGA's No: wait until October to order ASIC's (Please ignore other motion with same date)

Voting result
% to pass motion: 51
Voted Yea:330
Voted Nay:1803(1306)


I had to vote with RSM's holdings of 497 shares/votes to end the motion as there was a bug with it finishing properly and the result in brackets is the vote with 497 shares/votes removed.

Motion text
Yes: saved all btc mined to help towards ASIC expansion in October instead of paying a weekly dividend. No: don't save any mined funds just pay the dividend.

Voting result
% to pass motion: 51
Voted Yea:1345(848)
Voted Nay:778


So in total we now have 107.57715260btc and need $1,387 to order the BFL-40GH/s-ASIC meaning if we don't sell any of the 497 shares RSM holds at 0.40btc then we should have enough funds raised to order by October.  Also OpenBitASIC should have made an announcement by then and they reckon there product will outperform BFL's.  I will update the Google Doc's spreadsheet - (https://docs.google.com/spreadsheet/ccc?key=0Ap02rO_j4NLvdDB2cFRTS0ctVGRHRE5yQ2RfNUZFcUE#gid=0) - every Friday with our current holdings.
1747  Economy / Securities / Re: Red Star Mining - FPGA company - 1.81565MH/s@0.21739W per share to be paid on: June 25, 2012, 11:15:07 PM
i rather say we buy a stake in a biger ASIC-mining venture with the 100 bitcoin.

like BTC-Mining or NASTY

Much as I'm all for mining I prefer coins.  Are they investing in a 1TH/s unit.  If so what do we get MH/s a share.  Also OpenBitASIC will have a European seller meaning no import taxes.

I could turn RSM into an investment fund but we are about to pay our biggest dividend ever from mining depending on the verdict of the current motion.
1748  Economy / Securities / Re: Red Star Mining - FPGA company - 1.81565MH/s@0.21739W per share to be paid on: June 25, 2012, 11:11:55 PM
i rather say we buy a stake in a biger ASIC-mining venture with the 100 bitcoin.

like BTC-Mining or NASTY

Much as I'm all for mining I prefer coins.  Are they investing in a 1TH/s unit.  If so what do we get MH/s a share.  Also OpenBitASIC will have a European seller meaning no import taxes.
1749  Economy / Computer hardware / Re: [WTS] 7x BFL Singles Rev 3 "E" (high bid: 690 per/4570 lot) on: June 25, 2012, 10:22:18 PM
Can I reserve one for 102btc plus $44 shipping paid on Wednesday by PayPal or btc and 102 btc escrow.  Or do you want 260 shares in RSM (GLBSE listed) plus P&P which should pay 1.07786406btc a week dividend at current difficulty unless the motion goes favour of saving all mined funds (about ~9btc a week) for twelve weeks towards ASIC's.
1750  Economy / Securities / Re: Red Star Mining - FPGA company - 1.81565MH/s@0.21739W per share to be paid on: June 25, 2012, 09:54:38 PM
Start of the Google Docs spreadsheet for RSM - https://docs.google.com/spreadsheet/ccc?key=0Ap02rO_j4NLvdDB2cFRTS0ctVGRHRE5yQ2RfNUZFcUE - it will be updated each Friday with dividends paid or mining funds saved.
1751  Other / Beginners & Help / Re: mining alone or in group? on: June 25, 2012, 08:57:04 PM
https://en.bitcoin.it/wiki/Mining#Pools

"As mining a block became more and more difficult, individuals found that they were working for months without finding a block and receiving any reward for their mining efforts. Thus they started organizing themselves into pools so that they could share rewards more evenly. See Pooled mining and Comparison of mining pools."
1752  Economy / Computer hardware / WTB BFL-Single 100btc (plus shipping) or shares in RSM (on GLBSE) + P&P on: June 25, 2012, 06:57:10 PM
WTB BFL-Single 100btc (plus shipping) or shares in RSM (on GLBSE my mining company) + P&P.  You will have to ship first or do escrow with the Hashking but willing to pay the postage up front.
1753  Other / Off-topic / Re: odd how your teeth are connected to your well being? on: June 25, 2012, 03:18:23 PM
I've had a few teeth pulled and smoked a cigarette less than 1 hour afterwards and never had a problem with dry socket or anything. I would smoke from the opposite side of the extraction and wouldn't inhale as hard as I usually do.

That good to know as I smoke 40 a day.  Going days without a cig would be worse than the extraction.
1754  Bitcoin / Pools / Re: [208 Gh] MtRed (PPS, LP+, API, 0 FEE) Merged Mining Test LIVE on: June 24, 2012, 11:13:59 PM
Is NMC merged mining going to come (back) to the main MtRed server?
1755  Economy / Securities / Re: Red Star Mining - FPGA company - 1.81565MH/s@0.21739W per share to be paid on: June 24, 2012, 10:49:10 PM
There is a few BFL-Singles for sale at the moment on the boards.  I'm looking into whether we can acquire one for the 102BTC we currently have.  Then we'd have 2.4GH/s of mining equipment and a $599 refund on a BFL ASIC once there shipping.  Meaning at current difficulty we'd be raising 9.79btc a week before electricity payments(80W@£0.1172kWh)

I offered someone $690 of btc held in escrow for them to ship us a board.  We could then use the BFL-Single for mining (meaning 9btc dividend) until we swap it for $600 off a BFL-Single-ASIC.  I suppose it better to have an extra 832MH/s mining and have the chance of $600 off an ASIC then just having that 102btc sat there until we have enough to order an ASIC(and then wait for it to be delivered).  Anyway if the seller agrees a 24hr motion will be held.
1756  Economy / Computer hardware / Re: [WTS] BFL Singles Rev 3 "E" and Yellowcake on: June 24, 2012, 10:08:59 PM
Pm'd for one shipped to UK (102btc) with the Hashking doing escrow.  Thanks.
1757  Economy / Securities / Re: Red Star Mining - FPGA company - 1.81565MH/s@0.21739W per share to be paid on: June 24, 2012, 10:07:27 PM
There is a few BFL-Singles for sale at the moment on the boards.  I'm looking into whether we can acquire one for the 102BTC we currently have.  Then we'd have 2.4GH/s of mining equipment and a $599 refund on a BFL ASIC once there shipping.  Meaning at current difficulty we'd be raising 9.79btc a week before electricity payments(80W@£0.1172kWh)
1758  Economy / Computer hardware / Re: WTS 8 BFL Singles on: June 24, 2012, 10:01:59 PM
102btc for one shipped to UK (as long as shareholders agree[24hrs to find out max]) with escrow through the Hashking
1759  Economy / Computer hardware / Re: WTS 8 BFL Singles on: June 24, 2012, 09:48:23 PM
Pm'd
1760  Economy / Securities / Re: Red Star Mining - FPGA company - 1.81565MH/s@0.21739W per share to be paid on: June 24, 2012, 09:38:15 PM
you still didnt do a spreadsheet that you promised to do

We had one but forgot to back it up when I installed Xubuntu 12.04 but all the accounting is buried in the thread as everything is made public.  We've got funds earned from share sales in its own wallet and fund raised from mining in the MtRed wallet.  I'm going to create a public one with Google Docs on funds saved toward's our first ASIC and PC.  Will stick the mining funds raised weekly on there.  With it being saved in the cloud it safe forever.  Just need to look in to how to use Google Docs so the spreadsheet can't be edited maliciously.
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