They're complaining because you're late and others are early (relative to you). There's nothing more or less to it than that.
Someone hasn't been reading the forums! without to get too personal I suggest go back to work and do your job. I have a order in your system which I can charge off. this is the situation we have right now. I will never ever do any business with you again, for shure. He *IS* doing his job. Josh has been swindling investors all along...he's good at it. Charge back if you're able, don't even think twice. BFL is managed by crooks. |
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Hi SendCookies, welcome aboard and sorry about the drama. bASIC has 718BTC in reserve which would put us over 30Th/s if we ordered from CoinTerra for January delivery. We're in a holding pattern because the price of equipment is falling so quickly that there's nearly zero chance of seeing a positive return from some of the current vaporware products. Even the recently announced $5/Gh sale over at hashfast for November delivery is a questionable proposition with chips that only exist in theory.
So, w/ the 30th number including reserves wat would you say the $/gh is for buying Basic at say .1 btc a share? I wouldn't care to hazard a guess as there are entirely too many variables. We have 1435Gh/s now and bitfury US has recently shipped products for August delivery which made ordering from them for October delivery an easy decision. This would put us at roughly 2235Gh/s or 43.29Mh/share, but beyond that I wouldn't feel comfortable speculating. We have a motion currently up for voting that would allow me to sell gen 1 equipment and continue the migration to gen 2 equipment. I anticipate this move will increase our hashrate further in the coming months as margins for both miners and vendors continues to fall. The market is changing so rapidly that assuming much of anything with a time frame further out than a few weeks seems like a mistake. |
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I know 10 shares is nothing to most of yall, but, for me, it's just a start. And I just wanted to share my story with yall. If, I'm reading this rite, basic has 1.4 TH online now, w/ 800 GH on order and 800 btc in reserve?
By rough calculations, if you were to bring all those reserves to bear on hardware. I'd say basic is about a 10th mining potential atm?
Forgive me if my numbers and ideas are wrong, I'm relatively new to this whole btc and mining. I understand all the reasoning why basic has decided to wait and I think it's the right move.
OK Please help me out if any or all my assumptions are way off the mark. TY and hope to invest more and learn from what looks like a good group.
TY all. Hi SendCookies, welcome aboard and sorry about the drama. bASIC has 718BTC in reserve which would put us over 30Th/s if we ordered from CoinTerra for January delivery. We're in a holding pattern because the price of equipment is falling so quickly that there's nearly zero chance of seeing a positive return from some of the current vaporware products. Even the recently announced $5/Gh sale over at hashfast for November delivery is a questionable proposition with chips that only exist in theory. |
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Please don't panic sell.
I'll begin looking into options to re-list ASAP.
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23 labcoin 774.59 GH/s
24 yaoyao 718.28 GH/s
25 Team USA 684.49 GH/s Look at it this way: They have more hashrate than the USA I'm in the US and have over 1Th/s on btcg right now. Most aren't part of a team and have no need to draw attention to themselves. Labcoin just said they'd increase hashes daily, so if they want to begin to regain credibility then I'd like to see their hashrate go up now. I don't think that was to be taken seriously.. he was obviously joking Some people are just too serious  I know...lying and stealing are "shenanigans" and/or "tomfoolery" amirite? None of these intentional deceptions have been the least bit amusing. |
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23 labcoin 774.59 GH/s
24 yaoyao 718.28 GH/s
25 Team USA 684.49 GH/s Look at it this way: They have more hashrate than the USA I'm in the US and have over 1Th/s on btcg right now. Most aren't part of a team and have no need to draw attention to themselves. Labcoin just said they'd increase hashes daily, so if they want to begin to regain credibility then I'd like to see their hashrate go up now. |
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Thanks JimiQ84. Function >>> Form.
That's a thread I follow, but I hadn't checked it in a few days. It'd take some while to safely mod each h board, but these mods are comfortably within my abilities. The bitfury kit was built for max efficiency and not performance so it's not much of a surprise that people are squeezing significantly more from their kits given time to tweak. Pencil mods employed to simulate parallel resistors and therefore drop resistance and increase voltage have been around for quite some time. I noticed he has only 10 of 16 H boards in there, I wonder if we'd be well served looking for a third M board to lower the density of our h card deployment.
Cheers.
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Once a particular asset issuer is proven to be dishonest there's little reason to invest. It makes everything else meaningless.
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And it's too early to tell whether he's trustworthy or not. As I said, I've not seen anything he's done so far that has caused me concern. Fair enough. I deal in crypto securities daily and wouldn't trust cryptx with a bitcent, but that's for everyone else to decide for themselves. |
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We're right though  Naturally.  |
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I quite understand why he doenst want to deal with the forums and would rather leave them to soeone else. More than single someone else would have been far better. No pricing competition + greedy untrustworthy vendor = stillborn product. |
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AWESOME SAUCE! NOW I GET IT! ...it's almost like I didn't say all of this half an hour ago in this very thread... |
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Cost of the chips went up...everybody understands that. The prices are listed right on bfsb for anyone to calculate. The difference in chip prices doesn't come close to explaining the difference between initially estimated prices for this project and current asks. It's disappointing because it's no longer a viable product and another point of failure has been added. You now have to trust, not only burnin(easy), but cryptx(not).
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Point is that its not vendors pricing thats to blame for the lack of profitability. LIke I said, they can put any price on it per TH they want, 5x lower than today, and it would still not be profitable because miners would just buy 5x more and still over invest. Once they stop doing that, asic prices will drop further (further increasing difficulty). There is no solution, its inherent to the nature of the mining market and asics. Great point! Wish I'd thought of it...  |
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. I was concerned it would take years to get to reasonable prices, Define reasonable price. Reasonable price = potential for profit for more than just vendors. Reasonable expectation for a positive ROI. When people stop placing orders months in advance for products that are losing value at a rate of 2.5%/day(or go broke) this glut of orders will dry up. Of course many are still echoing the sentiment that only those early in company xyz's pre-order queue will make the big bux so it may take a while. Perhaps watching CoinTerra drop their prices by 62% since late August will help speed this process along. No matter what price point per TH you pick, if miners overbuy it wont be profitable. Agreed, but I won't be adding to the pile of stupid money being poured into vendors' wallets. There are too many entrants into the hardware peddling market now for vendors to maintain their ridiculous margins. Sure some misguided new to mining youngsters with more bux than sense will have to get burned, but the excesses will eventually be washed out. Much of this BTW should have been clear with the original context you excluded in your quote. |
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Thanks for clarifying it. Well i guess, we just have to wait it. And people are too suspicious about cointerra because the chip specs they released (500Ghs per chip at $3/Ghs) is too good to be true. People have been pointing out that mining equipment vendors' margins are enormous since forever. What looks too good to be true to some now, may well be perceived as overpriced within just a few months. Pre-order vaporware vendors have been riding this gravy train for months. Hashfast sierra and coincraft are now under $8/Gh allegedly for November delivery, making knc look tardy now. VMC...-60% recently. Frankly, I'm glad this price war is moving so rapidly. I was concerned it would take years to get to reasonable prices, but all the new vendors are pushing pricing down with the quickness. |
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I read the Custom hardware forum daily and i'm impressed how new people who never post here come and praise the VMC company only with language skills and zero technical stuff. The company may be legit, but this fact along with the self-moderated topics seems very very fishy to me. They're ActM shareholders that believe it's in their self interest to pimp for ken as they believe he'll toss them a few satoshis when he gets his paycheck from VMC's lackluster pre-orders. don´t you have a labcoin train wreck to pump and praise? No actually, but then your characterization of my actions indicates that you don't follow them closely anyway. |
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I know it's probably too early to tell, but it seems like increase in hashrate since the last difficulty jump has tapered off a little bit. Anyone else notice that? Not much shipping in quantity right this second. BFL's unpredictable trickle, whatever remains of bitfury's August deliveries, plus whatever happens with Avalon chips that actually found their way to buyers. This is likely just a calm before the storm of knc deliveries + bitfury products sold for September/October delivery(chips + rigs). |
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The vast majority of crypto security investors seem to suffer from ADD. They won't take the time to read contracts, read news releases, or do their own maths and just go with whatever is showing momentum at any given time. This is a huge problem in this space as liquidity is very low and it takes very little to move share prices by several percent. On the other hand it makes it easy to maintain steady returns for those that do not exhibit this behavior.
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