Hi mokahless. Please keep me posted on your ongoing research into knc's progress.

My cautious stance with regard to pre-orders stems from the fact that all of the companies developing ASIC gear are quite small. When things go wrong with these tiny companies, they can go very wrong...as in the case of BFL and BTCFPGA. While it was rather painful for bASIC-MINING shareholders(myself included) to watch Avalon batch 1 units being deployed and AM completing their chip development while our own bASIC hardware pre-order was delayed twice and then cancelled, at least the network hashrate wasn't increasing exponentially at that time. Such an occurrence in the rapidly expanding network environment we're now facing would be far more costly. The company's batch 2 & 3 Avalon orders were placed just as network growth was beginning to accelerate and immediately following the successful delivery of two batch 1 Avalon units, confirming Avalon's ability to deliver. I will continue to seek reasonably priced in hand hardware as it makes more sense to my mind to pay a small to moderate premium for such hardware and eliminate the tremendous risks involved with large scale pre-orders for products that are still in development and may well be delayed or cancelled entirely.

Cheers.

With the way Avalons overclock it should only take 8 - 10 weeks for a batch 3 original purchaser to see a positive return. Most 4 module Avalons will probably do 100 - 110Gh/s.

The doom and gloom is thick in here.  

Luck at bitparking has been so bad the past few days that it could only improve. Today's divvy will contain payment for three bitparking blocks.

Cheers.

Hi JimiQ84. Last I'd heard they were aiming for October delivery correct? The mercury is certainly attractively priced. I need to brush up on knc's progress.

Cheers.

I've had more time to fine tune the Avalons this evening. It's gone fairly well:





Cheers.

Hi runam0k. We have our paid for 4 module batch 3 in the pipeline. I understand that batch 2 is approximately 90% shipped, so it shouldn't be too much longer. I've also been shopping around for an additional 2nd hand rig, but haven't had much luck finding another with a price tag that makes sense.

Cheers.

Hi bobboooiie. The shares were obtained at an average price of 2.478182406.

The long term plan for the shares is rather open ended. The motion that allowed for their purchase was worded simply:


While we could liquidate them now for a significant gain(+80%), without a clear path to invest in reasonably priced hardware, it'd merely add to our cash reserves while lowering our daily dividend.

Cheers.

Actually, shareholders have received more value from the first Avalon purchased than they have from our ASICMiner shares(thus far). If my quick math is accurate our first ASIC has already repaid more than 25% of it's purchase price, delivering approximately 17.5BTCs in dividends and contributing over 3BTCs to our growth fund.

While the shares were obviously a great investment and a nice stopgap measure to cover for the tardiness of our hardware, they've "only" contributed a little over 10.5BTCs in dividends and zero to our growth fund and we've had the shares twice as long. Obviously the shares have been appreciating in value and the hardware is not(or will not), but they're both likely to end up being very solid investments for us.

Cheers.

Seems like our ASICMiner investment is doing okay...

lol

Welcome aboard doc.

I sent you a reply on Thursday Mike...never heard back.

Nobody was doing daily dividends back when I wrote the contract and I like to have my payments ASAP. It really isn't that much extra work if you stay on top of it and remain organized as the exchange does most of the grunt work. If DRIP is used the difference between daily and weekly dividends could be significant for long term investors.

Cheers.

That's a bit harsh, but all else being equal I too tend to favor the largest of the "smallish" pools. These usually have lower fees than the larger pools, variance isn't all that bad, and spreading the love around does likely offer more security for Bitcoin than one or two huge pools can provide. The lengthy bitparking block that began this debate is a statistical anomaly.

Cheers.

Edit: Plus it just plain feels good to land a block for one of the smaller pools:

Orphaned blocks are already covered at Bitminter for half that and at polmine for 1/3 of that. While bitparking does not cover orphaned blocks it's fee is zero and the only orphaned block we've experienced while mining there I covered myself out of pocket.

The accounting is easy, just compare actual output to expected pps output less fees, but perhaps I could add a field to the spreadsheet for easy reference. If over time everything evens out, but we pay 1.5 - 3% lower fees then that'd be great imo.

Cheers.

I believe we've come out well ahead of expected earnings had we been running pure pps at a rather stiff 3% fee, but I'll check the exact numbers on it. While perfectly predictable earnings would be ideal I'd rather have more Btc than less even with a little variance day to day. If we paid out dividends weekly rather than daily then variance would probably be nearly zero, but with daily payouts that's difficult to achieve. Also I have to pay all expenses from my own shares to keep other investors' shares unencumbered and as a result I rely on those merge mined cryptos to help out. In the interest of consistency one of the Avalons is already running smpps exclusively at a 1% fee and has been doing so for nearly 2 days.

Cheers.

Edit: Real quick number check on the last four daily payouts compared to pure pps at 3% fees looks like this:

+1.16% +7.27% +11.41% -5.97%

I believe we've earned approximately .5Btc more with the current low fee mixed configuration than we would've using pure pps at a 3% fee since we added the second Avalon.

I've manually calculated 7d avg price to fix share & yield information messed up since the stock split. I'll recalculate daily until the exchange catches up.

Mining revenue was down a bit due to the monster block bitparking has been crunching on for the past 40hrs and counting.

 

Travelling today so I've queued our daily dividend. This includes some payouts still confirming at this time. The breakdown is as follows:

Mining revenue: 4.21547746
Asicminer-PT: 0.27686700
Total Dividend: 4.49234446
Total Dispersed: 3.22770122
Reinvested: 1.26464324

Today's mining revenue brought to you by:

0.28643858      Slush
0.40449901      Slush
0.31000000      PolMine
0.36000000      PolMine
0.33000000      PolMine
0.35000000      PolMine
0.35000000      PolMine
0.10081071      BitMinter
0.81236861      Bitparking
0.71002396      Bitparking
0.20133659      Bitparking

4.21547746   TOTAL   

I'm still fine tuning both the Avalons and the pool configurations. Much of the past 24hrs we've been hashing 50/50 between polmine and bitparking. I have several additions to make to the spreadsheet and hope to get to that this weekend. Requests are most definitely welcome.

Cheers.

Warning added to front page. Please be careful when entering trades.

Kewl, thanks burnside!

This is going to take some getting used to...feels like we're at an all time low.

Replied. Thanks for getting back to me so fast.

Cheers.