I'd be interested to hear if creativex has reconsidered using a fraction of the reinvestment fund as part of a hedging/investment portfolio. I'd consider re-opening a position in AM-PT shares at these levels with a portion of our fund. There are no other investments that have both the liquidity and track record. Also, as before, I like the unique situation with AM-PT which requires us to trust only one more person...friedcat. Thoughts? Concerns? |
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"Launch day pricing"
Well...the price has fallen significantly since launch. Not significantly enough. The term is too long. Half that price for six months may provide a return. |
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We will be adding TH as quickly as funding allows.
I think what you said underscores the need to be hashing as soon as possible. What I said underscores the importance of not overpaying for hashes. You'll not see a return on that contract and will instead lose a great deal of investor funds. Simply untrue. You need to follow what we are doing a little closer...please. 650K? Why do you use that figure? That is not what we would be paying. As we have said before the price is closer to .38/gh. AND if we had the funds right now..we honestly think we could ask for a even lower price. The Californian company is preparing to host ASIC mining equipment for its customers, using yearly contracts. Its launch day pricing was $65,000 per Terahash, and mining hosting contracts are only available in 5 and 10 Th/sec blocks. So, if you’re thinking of running a miner in your basement, you are not its target market. http://www.coindesk.com/alydian-targets-big-ticket-miners-with-terahash-hosting/Not profitable. That's why you're required to lock-in for one year. |
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We will be adding TH as quickly as funding allows.
I think what you said underscores the need to be hashing as soon as possible. What I said underscores the importance of not overpaying for hashes. You'll not see a return on that contract and will instead lose a great deal of investor funds. |
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I think they said they will be actively looking for large quantity group buys to keep up with the difficulty and in the mean times gives a low price/GH.
I dont see where they said they will be hashing with only 10TH/s for one year. I don't think you understand my concerns. Perhaps I didn't explain it very well, so allow me try again. zif33rs seems to think that this 10Th/s contract represents a bargain, but it appears that it's $650k for a locked in one year term. This would only be profitable if difficulty rose less than 57.4% per month during that year, and obviously the recent trend is way way beyond that. While it'd be nice to be hashing sooner rather than later, it's only a bargain if the price paid is reasonable, and this isn't. If it was 1/4 the price for 1/4 the term it'd be worth considering, but not for one year, that's a certain loser even if you don't take into account the fact that the very same company plans to offer 1Ph/s contracts in the near future(October). |
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Hi all, As we can see, there has been another 30% difficulty increase for Bitcoin mining yesterday. For those of you who might not be following the difficulty of mining, the difficulty doubles at a speed of every 30-35 days. i.e. you can only mine half of the coins you are mining now at the end of September, or you can only mine ¼ of the coins you are mining now at the end of October. According to Danny Bradbury’s calculation in http://www.coindesk.com/alydian-targets-big-ticket-miners-with-terahash-hosting/. “At 2%/day difficulty growth rates, an October 31 delivery from KnC at $19/GH equates to $62/GH on August 29,” he says (1.02 * 61 days = 62) “And that still leaves someone with two extra months of mining, plus of course the reduction in power costs. However, the price we are getting from Alydian is at least 30% less than this price. That’s why we are saying it’s a great deal to buy it now and share the revenue RIGHT NOW. Can you explain how you expect to effectively combat a rapidly rising difficulty by locking in an inflated price on what seems like a decent hashrate now for one full year? Have you done the calculations on how long it will take you to make back your investment and begin to see a return on your 10Th/s contract? Have you calculated the odds that you'll never see a ROI? I suspect it's not pretty, and that 10Th/s may not seem like such a large chunk of the network in a very short time, but you'll be locked in for the balance of one year. Cointerra is already planning to roll out a 2Th/s rig for December delivery, what do you think it will do to your returns if/when those things get shipped in quantity? |
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I believe it to be a mistake to assume that just because a company can develop their own chips that they'll be able to deploy them expeditiously, and we all know how quickly things move in this space. There's only one ASICMiner for a reason, and even the bluest of blue chip BTC companies has been losing share of the global network for some time now and their share price has been going with it. I find it odd that people believe the companies currently hoping to emulate ASICMiner's impressive performance won't experience the same difficulties. The companies with the best performing share prices at this time in the mining space are the very same companies that haven't had the weight of expectations placed upon them...yet.
Also much of what was mentioned above ignored the fact that the rapid growth in network hashrate is also dramatically lowering the cost of mining gear. 400Gh/s for October delivery from bitfury is currently 73.22BTCs and it could well be overpriced, yet bASIC-Mining currently has the resources to purchase 11 such 400Gh/s kits.
Cheers.
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Dave: Can you clarify whether the default ("free") shipping method to US customers is USPS Standard Post (7-8 days to most destinations) or USPS Priority Mail (2-3 days)?
If USPS Standard Post, can you add another shipping upgrade to the site for US customers to upgrade to USPS Priority Mail for $5 or something?
There should be a lower price overnight/express priority shipping for those who are only getting the 25Gh starter kit. I'm definitely not going to stick you with long shipping time to save a few bucks. In looking at the $199 shipping option against a single starter, I'm not super happy with the increase in cost to you. My choice to provide a single one-size-fits-all shipping option is adding too much cost to the starter kits. However, I'm wary of introducing more complications by adding a second option at this time, but rest assured I'm going to revisit this issue and make it right. Most of the cost of the expedited shipping option provides insurance. The insured cost of shipping a full rig is what mainly drove the expedited shipping price. If you ordered a starter kit and then purchase expedited shipping, I will either refund a portion of that $199 or drop store credit on your account. The amount will be $100. The idea here is to get them in your hands as soon as possible, not drive the price up 15% Cheers, Dave Dave, Your commitment to integrity speaks volumes about Bitfury and MEGABIGPOWER. Thank you. Rusty +1. You're a good man Charlie Brown Dave. While it'd have been easy to best the competition's non-existent customer service by just showing up for work, you've been transparent and straightforward. Someone on the left coast buy that guy a beer. |
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you people really know how to put a man on an emotional roller coaster on a mellow friday night after a few beers. It's unwise to mix emotions with investing. |
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After sticking with him for quite a while I just bet that he has a huge move planned...I can sense it coming.
Perhaps a second data center is being set up, perhaps something else...whatever the news is it will be something so huge that we will all be shocked.
You've got to remember the huge headstart, and the chip manufacturing advantage they have.
To think that they don't give a shit about the share price after the IPO is naive....I would say they suffer more than anyone when the price drops and the value of their nest egg is at risk. +1. I think friedcat has a few tricks up his sleeve and I like the risk/reward much better around 3 than I did at 4.x. |
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Hi Tigggger. I did try --avalon-temp 70 as that's what was specified for the b3s by default. I don't recall setting the cutoff temp though. I'll give that a shot, thanks.
Edit: That worked a treat, thanks!
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Unless you have done hardware modifications, you will not find any stock avalon under any conditions that will run much better than 360. The firmware posted so far already allows for speeds up to 450. Hi ckolivas. I'd like to thank you for your excellent work on Avalon firmware revisions. 20130821 has worked a treat on my batch 1 & 2 rigs. I'm having difficulty with your latest releases on batch 3, 4 module rigs however, and I apologize if this has been discussed and I missed it. These are restarting cgminer when temp 2 = > 60. I've tried every firmware from 20130703 to 20130821 and they all exhibit this behavior. The only firmware that seems to work properly on these rigs is their factory firmware 20130723. Do you have any idea how this issue can be resolved? Cheers. |
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Seems the exchange is struggling to stay up today. I'll redirect the homepage link when I queue today's dividend. I've already updated the spreadsheet to reflect today's payment. I'm also going to look into sourcing a few 1000w PSUs. The stock 850s in two of the batch 3 Avalons are not likely to survive for long with their current workload(4 modules overclocked) and we may get more clocks out of them with cooler weather. This will allow me to move the 850s in those rigs to replace the 700s in two of the batch 1 rigs. Cheers. Edit: ...and add a link to the OP ...and add a link to the spreadsheet.  |
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creativex, can you post some information about buying new equipment? We`re waiting for dramatic increase in difficulty, so what should we be waiting for? Hi AbendWind. Not entirely sure what you're asking. I've been making purchases all along. The last re-target was a whopping +35% and bASIC-Mining tacked on 410Gh/s(+40%). Care must be taken to purchase equipment at a price that will be profitable for shareholders. This has meant select purchases in the secondary market. Such as the 3 batch 1s that arrived on Monday or the 2 batch 3s that I picked up last week. Cheers. |
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Live: http://www.basic-mining.com--------------------------------------------------------------------------------------- Drop comments in mailbox: demzie@basic-mining.comHave any FAQ idea's? Drop FAQ entries in mailbox: faq@basic-mining.com--------------------------------------------------------------------------------------- There are still a few pages i want todo but those need input from the management  - About bASIC-Mining (Written as a story) - Our Goals and Future - Portfolio page (Just great pictures of bASIC-Mining Hardware collection) - Maybe more pages based on input from you or the management ofcourse The todo pages will come with time and planned urgency as management will decide --------------------------------------------------------------------------------------- Beautiful work demzie! I think this calls for a news item. |
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Pfffft...
I sold the washer and dryer long ago. Their hashrates left a lot to be desired.
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Look...we can be hashing in a little over a week. With 10 TH...a nice chuck of the network strength. With plans to expand and do good things. I dont know what is so difficult for you guys.
EDIT: I know what I am saying above is abrupt. But its really the only point that means anything in this whole discussion. It isn't the only point that means anything though. You're trying to persuade folks that don't know you to invest 42,000BTC with you. I believe your knowledge of bitcoin mining is relevant. Surely you'd agree? |
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how much more infrastructure do you have for new equipment? in amperage.
a lot of miners are getting squeezed as individuals, time to keep cranking out funds from the reserves, scoop them up Hi stslimited. I can add about 50A more draw on the facilities I'm currently utilizing before I'll have to add more infrastructure. I have more property now that I can utilize if necessary, I'm just trying to not get too spread out. Also colder weather will soon begin to allow me to cut power drawn by AC which will allow more power to be fed to mining gear. Cheers. |
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Again this is true. But what I trying to express is that the person who mines first mines more, so there for earns a higher ROI. ...and that's why mining gear loses value over time. Why did it take us so long to get here? |
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