**NEWS ITEM**bASIC-Mining taps Bitfury US for 800Gh/sbASIC-Mining is pleased to announce the purchase of it's first generation 2 ASIC mining hardware. An order for 800Gh/s has been placed with Bitfury US for October delivery. Bitfury's impressive performance both in producing and delivering what is now the market's leading equipment made this an easy decision. Upon receipt of this equipment bASIC-Mining's hashrate will rise to approximately 2,235,000Mh/s. Additional information about this purchase as well as all of bASIC-Mining's current hardware will be made available at http://www.basic-mining.com Cheers. CreativeX https://btct.co/security/BASIC-MINING
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Agreed, I'm getting after Dave for this.  |
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Mind sharing the rough price and total hashrate we'd get from the order? Just trying to see where we would stand come October. Hi cw92. I'll do one better and share the exact hashrate and price. 800Gh/s @ 123.6225 57148afaeb3c6f2a217c34b40ce24ae986edfed53a92e9a3a165e85220b47556 Cheers. |
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Thanks Carnth. I've done my homework and though I'd like it if the price/Gh was lower I don't believe there's a better value out for gen 2 equipment. Bitfury gear should still be hashing when knc gear is no longer profitable.
Cheers.
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when we have some time (4 months) until things cool off... will you please show us a photo of mining rig? :-) Hi JimiQ84. You mean you'd like pictures of gear we haven't acquired yet or you'd like more pictures of gear we're already utilizing? Cheers. If there were some photos of our current devices, then I missed them. Would you point me to those pictures? If you go to the news tab there are links. I tend to post the same releases on this thread and those images and others should still be available here, though it's a lot of pages to go through. I will have to consolidate photos and get them uploaded to our website. Cheers. You can't deny a request for rig pr0n creativex.  Who doesn't love rig pr0n?  |
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**ANNOUNCEMENT**
As bitfury EU has delivered and bitfury US is now sending out shipping notices for August/September delivery, this product is no longer vaporware. If there are no reasonable objections I'm going to place an order with bitfury US for October delivery at this time.
Cheers.
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Hi, creativex!
I asked you a week ago about share prices, and you answered me, that the situation with decreasing of share prices was market psychology.
Don`t you think, that it`s a tragedy for basic-mining?
Two weeks ago the price was 0.30, now the price is 0.13. I don`t think, it`s a market psychology. It is just distrust. I want to say, that investors don`t trust.
As for me, I am a fan of you and your business strategy, I bought hundreds of shares, when the price was 0.30, i bought hundreds of shares when the price was 0.25, then 0.15.
And, maybe, it is really necessary to buy new equipment to increase dividens. You have to brake this market psychology.
Now the price is 0.132600, and I would like to buy 100-200 shares, but I will not do that. And I know investors, they sell shares, because they think, that basic-mining cannot mine more.
It`s just my opinion. Hi AbendWind. As I am bASIC-Mining's largest shareholder, nobody has greater paper losses than I. LC & ActM(and formerly BTCGarden) are being assigned a premium by speculators due to the perceived value in having access to cheap hashes in the future. We've had several posters confirm my view on this in this very thread. This is plainly the case as these companies together have a current combined hashrate of only a few hundred Gh/s but have been assigned massive market caps. This market cap is being pumped in part by taking the same away from companies that have current hashrates(ASICMiner, bASIC-Mining, and others). I believe our current hashrate at 1,435,000Mh/s is higher than the other five mining related Stocks and Revenue Shares combined. I have bought new equipment, the last being two weeks ago. The market did not and does not care, the purchases merely increase our yield. Purchasing more of the same equipment would put us at risk of never seeing a return on that equipment. It's conceivable that when we order and receive gen2 hardware the market may not care about that either, but I cannot worry about that which is beyond my control. Cheers. |
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Agreed. It's just been a ways down on the priority list. Demzie did a masterful job with the layout though and I would like to get more content on there.
Cheers.
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when we have some time (4 months) until things cool off... will you please show us a photo of mining rig? :-) Hi JimiQ84. You mean you'd like pictures of gear we haven't acquired yet or you'd like more pictures of gear we're already utilizing? Cheers. If there were some photos of our current devices, then I missed them. Would you point me to those pictures? If you go to the news tab there are links. I tend to post the same releases on this thread and those images and others should still be available here, though it's a lot of pages to go through. I will have to consolidate photos and get them uploaded to our website. Cheers. |
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The expectation that they'll be able to dissipate 12.8w from that tiny plastic package makes me nervous. I asked before but nobody responded(or I missed it). LC has said the packaging used is QFP, but it's actually PQFP is it not? Plastic?
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when we have some time (4 months) until things cool off... will you please show us a photo of mining rig? :-) Hi JimiQ84. You mean you'd like pictures of gear we haven't acquired yet or you'd like more pictures of gear we're already utilizing? Cheers. |
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Hi creativex,
First I just wanted to say thanks for your hard work!
I have invested more than a year ago if I recall correctly for less than 1k USD and today I have a significant return on investment and collected a significant amount of dividend...
I'm a long term Investor nevertheless I would like to know what is your plan till the end of the year?
We have seen difficulty going up dramatically and our hashing power hasn't move in the last month. So I'm a little worry of the sell off we have seen in the stock... I have every confident it will turn around so I'm buying back lots of the stocks I sold above 0.7!
I believe a few things could help in the short term:
1) Doing a stock split again to get small investors interested and being able to compete with stocks like Labcoin, Activemining etc. (it's cosmetic but people will be more likely to buy a few shares if it's "lower", it's purely psychological)
2) reassure Investors that Basic mining has a plan for the end of the year and for next year (especially when difficulty will stabilize and all ASIC or most are out)
3) Sell our "barely profitable" ASIC mining gear before it rocks bottom!
4) try to increase our hashing power with difficulty (I know this one is hard but we need to increase at least 10% when the difficulty goes up that much otherwise dividend get diluted and impatient investors start selling like there is no tmw)
5) share buy-backs to increase the value of shares still available and reducing supply
Again I know you are working around the clock to make this venture profitable for everyone and I have every confident that you will be successful in the long run
regards,
CAA Hi cix888. Thank you for trusting me with your hard earned funds. My plan till the end of the year is to allow the current hardware price war to continue to play out and then to purchase gen2 ASIC mining gear at favorable rates. There are several new vendors coming on the scene in Q4 with 28nm designs and this is driving hardware prices down in anticipation. Actually our hashing power has increased by 495Gh/s(+52.66%) in the last 30 days. It's just that this increase has done nothing to support the share price due to market perceptions. Please see btct.co news releases for details. 1) I don't see liquidity as a problem currently. 2) I've lain out my plan going forward numerous times, but perhaps a more concise news release could help to reassure those that do not follow us closely. 3) We don't have any barely profitable ASIC gear. Our least effective ASIC gear is a 3 module b2 Avalon that remains profitable for us. 4) This would doom us long term. If we spent large portions of our current resources on currently available hardware it would necessarily be hardware from Avalon, BFL, or ASICMiner. None if this hardware is expected to remain profitable long term. This is why I've suspended such purchases. 5) Share buy backs have been a topic of discussing over the past month+ and something I'm considering. Thank you, I am reviewing options daily, there just aren't many available at this time as we're stuck between ASIC hardware cycles. Cheers. |
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When creativex's stock is tanking you can bet he will be in other threads trying to spread some uncertainty. Probably my least favorite security owner of them all. Hey bud...check *THIS* out. https://btct.co/portfolio/f8A1This thread is crawling with trolls and cheerleaders. I'm neither, but I am a shareholder and I have some questions about what LC is doing. I'm sorry if that bothers you. I"m sure most of the trolls on here actually own shares of Labcoin, but just want more. Thats not proving much. You may think whatever you like about my motives. I have an interest to protect and this is a risky investment managed by people that would be hard pressed to spell the word communication. I'm staying. |
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Good. They're hopelessly incompetent.
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When creativex's stock is tanking you can bet he will be in other threads trying to spread some uncertainty. Probably my least favorite security owner of them all. Hey bud...check *THIS* out. https://btct.co/portfolio/f8A1This thread is crawling with trolls and cheerleaders. I'm neither, but I am a shareholder and I have some questions about what LC is doing. I'm sorry if that bothers you. |
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...and REALLY hard to find... Got a link eve?  |
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Hey CryptX - fyi the details tab for PETA on btctc says "Outstanding 1758 / 100000 Issued"
Should say "Outstanding 1758 / 10000 Issued"
Unless I am mistaken I believe it's off by an order of 10 You are mistaken. This is what their contract says on that point: CryptX Business Goals
CryptX’s primary goal is to provide opportunities for the public to invest in the Bitcoin mining business. The company will do this by offering shares of a PETA-MINE, a hosted mining project with a capacity of 1,000,000 GH/s of hashing power.
CryptX hereby offers an asset (its PETA-MINE) for shares in the profit of the company’s operation. CryptX will offer 100,000 shares, where every share represents 10 GH/s of hashing power.
The PETA-MINE’s hashing power will represent a percentage of the total hashing power of the entire Bitcoin network. This percentage will decrease whenever the hashing power of the network increases. To mitigate this issue, CryptX will reinvest 35% of the mine’s net revenue in additional hashing power. This means that as the PETA-MINE continues to grow, each share will, in turn, represent more hashing power. 65% of the net revenue will be paid to shareholders through a weekly dividend.
Deployment of the PETA-MINE will occur mid December, 2013.
Shareholder Information
CryptX will issue 83,333 out of 100,000 non-dilutable PETA-MINE shares at IPO. Each share represents 1/100,000 of the total hash power of the PETA-MINE, and shareholders will receive a weekly dividend payment every Friday. The PETA-MINE will deploy with a capacity of 1,000,000 GH/s where one share represents 1 GH/s in hashing power.
The company will issue shares in two batches:
The first batch will consist of 50,000 shares. CryptX will sell these shares through BTC-TC at a fixed price of 0.65 BTC per share. The sale of the first batch will close when all shares are sold.
The second batch will consist of the remaining 33,333 shares and will sell at a fixed price of 0.7 BTC per share. The sale of the second batch will close when all shares are sold.
All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered voting shares. A total of 83,333 out of 100,000 shares will sell at IPO. No shares beyond these 100,000 will ever be sold or created in the future, so shares can never be diluted.
For every share sold, CryptX will invest in an additional 20% hashpower. All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends. Their contract doesn't change on btct.co just because they edit a forum post. https://btct.co/security/PETA-MINE |
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