Looks like we r back online. Out for about an hour and fully back to where we were. Can we claim that down-time as a loss of earnings with the IRS?

BS - any photos, even one? You took not a single photo???

Good call Flash. We could offer our board to them - if we can retail it at less than the HF board it could be a seller.

The noise is intense! Imagine 30 of these racks in one room

You should ensure there is ear protection available for the staff Ken as we don't want any industrial deafness compensation claims made against us!

Not necessarily as they would be providing a service for the euro that they took and holding BTC would be that service. Euro would not be held in customer accounts or lent out, an operation which would indeed require a licence. Holding BTC in personalised accounts and having those accounts accessible from retail payment points would not fall under current Cypriot banking regulations as far as I'm aware.

That's the type of business they could have run in the current grey area.

But if it's costing you $250 to mine a single BTC and you can buy coins on an exchange for $180 it makes no economic sense to keep mining - unless the 'running costs' for a switched off datacentre exceed $70 per coin that you buy on an exchange. Does that make sense?

Draw a horizontal line on the daily chart at $260ish and you will see there was a big pullback to this level on 10th November and also the ATH of April 2013 bounced off this zone. So it's a level that was tested and rejected, then tested and broken, then it became support from above. So it is a significant level and might provide a point where the market will turn.

Some technical analysis relies on large players having orders placed as certain relevant price levels where action has occurred before. I'm sure there isn't as much depth of market in BTC/USD so while analysis like this is valid it may have a slimmer chance of playing out as advertised than identical views of a traditional instrument like GBP/USD for example.

It depends on how we hold our reserves - cash or BTC. I've mentioned a few times on here that if we held reserves in BTC it might be a good time to think about converting to FIAT to ride out the coming depreciation. No-one was interested, not a single comment on it if I remember correctly. Now this may be coming to bite us on the ass - maybe not if we have FIAT reserves.

I've asked Ken about the company sustaining itself through a big fall in BTC prices. I suggested we should be in a position to be able to suspend operations (switch off the farm, halt R+D, lay of contractors) to reduce costs near to zero. I think that would be a strong position to be in because a lot of mining companies (farms and sales) could go out of business if BTC stays at $200 for a few months. If we could stay solvent during that scenario we would be able to quickly re-start operations when BTC recovers. As a bonus we would at that point likely gain a larger share of the hash network which would have been reduced in size if other mining operations who tried to work through the fall had ended up bankrupt.

Anyway Ken said BTC would have to fall a very long way before our mining farm couldn't cover the rent and electric bill.

It seems not, remember this is a digital currency, not currently regulated or within a regulatory framework in Cyprus - something Danny was desperately seeking. So it would have been banking in a grey-area and completely possible. That was the whole aim of the company afterall and they hadn't been shut down or told they would be as far as we know.

Antonis Polemitis:

@georgiemark @seotiras Cypriot employees kept it from being worse.  He wanted to launch retail, they knew platform not ready so prevented it

https://twitter.com/polemitis/status/453534367579914240

It might be possible but then how would they know Ken has asked to you sign from your address to him? This signing is a last resort and will only be needed if you don't have your username, time of tender and amount of shares tendered. So how would a hacker who has taken info from you in the past know that you have been requested to sign a message to Ken on a particular day in the future?

They would need to be hacking the pm's on here to find out who has pm'ed Ken about not having their tender details.

As an added security measure Ken can give you a code that you need to sign the message with which the hacker would not know. If the pm system on here is secure it would be an effective safety measure.

However I have serious doubts abut the Admin on here and do not see the pm system as secure.

That is a 'hype' chart not a price chart remember, it is interesting, as soon as BTC stops being 'hype' and becomes a widely accepted digital currency we will all be sitting pretty.

Yeah good point, I'm no different to Danny. We are all human - all too human. The thing is I held my ACtM shares because I believed in the company and it's CEO not because I panicked. That's an investment decision that is paying off. If I had any money in MPEx I would take it out IMMEDIATELY. You know it makes sense.

I'd love that to be proved wrong but you surely are right. If they had actually built a reputation and customer base before this fiasco they would have had a chance of gaining investor/buyer interest. Unfortunately I also think Danny would have tried desperately to get inward investment in the weeks before the closure. He clearly failed to strike up enough/any interest in N+B.

Everywhere you go on this forum it's all about YOU.

You don't need to make good points or relevant points just get the satisfaction of exposure. You are an attention whore and a desperate little sad man who needs constant affirmation from others. You are an empty vessel Marcel. Mr Popescu, have a look in the Romanian Yellow pages under 'p' for a psychiatrist. You desperately need one, and who knows, you might one day bring some semblance of reality and acceptance of self into your tragic little existence.

Despite what you desperately think and yearn for, most people on this forum loath you! Now isn't that ironic. Maybe you are trying too hard?

 

Interesting thought, I'm more inclined to think he would have been planning the closure of the company over the last 2-3 weeks and making sure the books were in order (as he has claimed they are).

Having said that, he disappeared in the night so either the stress got to him and he couldn't face his employees at crunch-time or the money ran out before he thought it would. Maybe he was holding out for a rebound in the price of BTC.

Ask any day trader how long they will hold a loosing position for - they will tell you until they are bankrupt and their account is empty. It's partly denial and partly false hope. Stress makes you make very very poor decisions at times like these.

We know what he spent it on. It was spent legitimately in the business, it's all gone on expenses. A scam that does not make.

They fell on their prediction for BTC which I believe they thought would be on the way to 10k by now.

Do you actually think Danny Brewster could get away with this if it was a scam? Are you from another planet?

What a pointless post. Are you just an attention whore? All you post in here is useless crap. Use your brain fool this was no scam.

MPEx - now THERE is a scam. People need to get their money out of that before it is closed down by the FBI. I see that happening soon.

WOW guys another 20-odd Fast Hash One Prospector mining boards have gone - so almost 40 sold in the few days they have been up and known about. The sales are really taking off and with ONLY 160 left these little GEMS are not going to last long before they sell out.

As soon as we start getting more reviews in I predict a rush - nay a RIOT - of people trying to get their hands on these mining machines.

GET THEM WHILE YOU CAN PEOPLE Currently IN STOCK for >>>immediate shipping<<<

Though not for long!


http://virtualminingcorp.com/shop1/index.php?id_product=38&controller=product

I think Danny didn't want to take customers as he knew the future of the bank was uncertain.
You can't say he is a scamer AND he didn't take your money - that simply does not make sense.

The company would have been a success if BTC had increased in value over 2014 as N+B had predicted and Gox+Bitfunder didn't happen. THAT IS A FACT. So they ran out of funds, it doesn't make this a scam. N+B would have opened customer accounts if the future of the bank was secure - but to do so with the price of BTC too low to allow the bank to stay open would be taking money by deceit.

If you see that you realise that Danny was acting honestly and concientiously by not taking onboard customers until he knew BTC would be strong enough to support his bank. He has acted admirably in that regard and PREVENTED another retail-banking crisis in Cyprus.

On the disappearance front - the guy is under GREAT stress, It's a natural response. Not ideal or acceptable but he is human and it is understandable.

N+B was a high risk IPO in a new start-up. People, get over it, it failed, most start-ups fail. It looks like there here is NOTHING criminal here. Possibly a few customers have been misled and they could launch a civil case to have their funds returned. It's a bankrupt bank which failed due to adverse market conditions. That's life, that's Capitalism and that is investing. You can't win them all.

Only a sad little man would threaten a middle-aged businessman with a gun and then pretend he is selling 9mm ammunition on here. You are pathetic. A pathetic runt of a man who needs to threaten strangers on a forum with violence to feel like a tough guy!! Grow the fuck up! Jesus are you twelve or something?

If you met me - blah fucking BLAH! You are a dumb fuck too aren't you? You think anyone invested in the company is related to the ceo?! What a total DUMB ASS! I'm in the frigin UK if you don't believe me ask for hard evidence.

My tip to you is STF up and stop taking the steroids you gym-monkey. I will seriously put my coin into uncovering your identity and having you charged if you annoy me anymore. If the ceo knows who you are it would be easy for me to serve papers on you. You are a fool and a very stupid immature little man. Again stop harassing my investment or I will see you go to court for your crimes. Idiot.