Haha. Well what the hell is Ken thinking? He owes customers over 100TH/s worth of miners and has constructed 0 rigs. So how can he honour any more sales?

I am starting to lose faith here. In 3 days we have to refund a million dollars, I am scared.

Normally I don't think much of VE, but here he is actually talking sense. come to think of it, if eASIC are on time Ken could actually be keeping profits to himself.

Now we are getting to the point where there are no more excuses. Ken you need to start talking.

I meant $10,000 in two years. I still think we should invest 50% at that point.

Yes Ken could easily spend many millions a month buying chips and even have multiple companies continuously designing supieor chips. If we want to be mining in 10 years we need to keep 50% at least. If we forfeit too much earnings to shareholders a competitor will destroy us. remember in a few years it's likely intel/ibm/arm start getting in on this.

Only 114,425

So I need 0.01 - 0.02

If bitcoin rises to $10,000 a coin, we really need to be reinvesting at 50% still, we must grow the hashrate.

Yeah why is it no one else here wants to grow our hashrate as fast as possible?

I want to be god damn millionaire, and keeping reinvestment at a flat fiat rate robs me of that.

The percentage has to be maintained, do the math please.

More fiat to reinvest each month grows our hashrate faster, by setting a limit for fiat reinvestment we are stuck at the same TH/s increase for every reinvestment, each TH/s becomes more and more shit after each diff change, so to keep our % we need to reinvest more fiat.

In the first year we want to grow our percentage a lot.

If we set a fixed fiat reinvestment, we cannot maintain that %

Please get a calculator out and plug in even the best case variables and see that limiting reinvestment to a fixed fiat value decreases our hashrate. Because each THs is not pulling in the same amount of Bitcoin.

This is very very simple math.

Minerpart, I want between $1,000,000 and $2,000,000 out of this. I know for certain this will never happen if you convince Ken to drop our percentage of reinvestment to keep fiat reinvestment flat.

We must keep reinvestment at least 50% no matter the bitcoin price.

The matlab model I posted had an ever increasing bitcoin price with reinvestment still at 50% and showed that we are going to be very much on the edge of maintaining our hashrate.

If bitcoin goes higher and higher, it is in our best interest to keep on investing 50% no matter what, because we need to expand our mining ability as much as possible.

In the long run we make more money keeping reinvestment at 50% and above, if we ever drop below 50% the competition will destroy us.

The good news is that we will make a lot of dividend, but I urge shareholders to encourage Ken to never drop the 50% reinvestment even if Bitcoins are $500,000 each. We must keep reinvesting.

Please do not drop below 50%, please.

You mention keeping the reinvest fund on course with the same amount of fiat if bitcoin increases, unfortunately this will ruin our company in just a couple of months. If bitcoin price increases we have to take advantage and keep 50%.

Get out a calculator or write a program to do the modelling yourself. You will see that if we do what you say, drop the percent of reinvest to keep the fiat amount the same when the bitcoin price rises, we will fall behind fast.

Please see the matlab model I made, it really shows all of this.

(Even reinvesting 50% when bitcoins are growing up to $10,000 over a year or two still does not guarantee we maintain our percent of the network.)

TL:DR

My model shows in the long run we make more dividend keeping reinvestment at 50% even if bitcoin prices keep rising. If we opt for more bitcoin dividend now whilst rising bitcoin prices we fall behind fast

No that's some other guy who has 49% more shares than me.

Yeah true.

Lots of things sort of went wrong to lead me here, I invested when Bitcoin seemed stable, and then the share price fell. Next thing the exchanges all closed down and then the Bitcoin price increased 10 times over. I hoped that the silver lining was that eASIC is our supplier for chips and we would be rewarded. I truly felt that we would of been mining 24TH/s and more mid-November.

Maybe I was just off terribly with the dates, I always thought that early December was when the main batch would be delivered and we would have 100TH/s and more easily.

Can you not understand how I feel? I know it was a risk but really? End of November and 1-3TH/s? I feel sick thinking about it.

I show you where JoTheKhan implied that the operation was on hold due to 61 Bitcoin.

I was being civil even though you started being offensive calling me either a FUD spreader or an idiot and even after my reply showing why I wrote that post you respond with this?

Haha actually this sounds pretty good.

If the price exceeds $5,000 in the next few months I will hold off buying for the first time. I will resume buying $5,000 around April 2014.

I think $10,000 could be realistic early 2015 but any sooner and I am sure it will correct.

Nope none at all. I have thrown out 3TH/s to 8TH/s, another investor gave an estimate of 16TH/s.

Ken has never denied or confirmed these guesses.

mbtc does not roll of the tongue, bitcoin does.

I suggest finding a simpler word for mbtc.

Please read.


When calling someone stupid, just make sure you're not the one being stupid. JoTheKhan is clearly implying that the operation is being held up due to the 61 bitcoins.

My post was to counter his argument and offer a reason to not hold up operations for the 61 bitcoin.

Perhaps your local internet provider is blocking BtcJam? The website is working for me and seems to be entirely functional.

Do you think it will be something else?

In fact I will send you the following amount of Bitcoin if Ken gives us the following information before December:

1 - How many eASIC chips we are hashing with. + 0.002

2 - How many chips Ken has ordered and their expected date of delivery. + 0.002

3 - Pictures of rigs and chips. +0.003

4 - The expected hashrate of the low-production run and the main batch +0.003

5 - Expectations of buying the second batch. +0.005

6 - Estimate of how long it takes to reinvest the 50% from mining income into new chips. +0.005

Minerpart, I will send you the amount if Ken shows any of that information, it has to be real numbers and no guesswork. You stand to make about $20 ( 0.02 bitcoin ) if I am wrong.

You might be thinking "Wow DTS has lost it, there is no way we are going to be privy to this information". I ask; why not? We bought the damn thing didn't we? The above information is easily known by Ken. He could even post pictures of the mining rigs or their parts. Ken must have lots of rigs and boards and stuff laying around if he expects to assemble miners right?

Also number 6 is insanely important. The model I posted a few pages back was worth building for one thing; I learnt that the reinvestment time is one of the most important variables in this system. How long it takes to take fiat and turn that into more eASIC chips is the single most important detail. I never realized it before but the model shows that if reinvestment is going to take over 2 - 3 months per order, this company will never even return our money in fiat, let alone bitcoin.

I know, NDA blah blah. How long do we wait by with our mining equipment becoming useless? Are we even able to get 1% of the network?

I have a nightmare that the entire run of low-production and main batch net us about 50 TH/s and we are waiting until March before batch 2 for another 50TH/s, by then we control 0.0000001% of the network.

I might make more money shorting this entire operation once we are trading again.

Ok, just another 4 days to go.

I hope the news is about our chips. I am going to go mad if it's just another financial report or another coloured coin update.

I wanted to determine possible reasons behind any delays and understand the solutions in advance.

If we know what could go wrong and perhaps we can begin to fix the problem before Ken lets us know officially.

I am trying to cover all bases.

By the way we could get 50 Bitcoin for 700GH/s off of ebay, why does Ken not sell the miners? They will never mine more than 30 Bitcoin.

And if the main production run in December does not deliver 100TH/s then we are screwed bad!

In December 100TH/s will not even be 1% of the network!

If we are delayed weeks because of $61,000 we are royally screwed.