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Any updates?
The webpage is gone and so is our money |
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Sorry, we were unable to deliver your message to the following address. < sales@blackarrowsoftware.com>: No MX or A records for blackarrowsoftware.com |
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How can it be considered a success if sharholderes got 80 BTC by mining compared with > 120 BTC by selling the avalons? We hashed 123 BTC and paid out only 81 on dividends?
See a couple of post above. Fenix should have generated >95 BTC but only 80 BTC have been paid out. Was the rest for power costs and management fees?
3% Btcguild fee, plus electricity costs, yes. |
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We hashed 123 BTC and paid out only 81 on dividends? We are winding down this asset, and have decided to accept a price of 12 BTC from TradeFortress for our 2 Avalons. The upcoming final dividend will include a redistribution of funds from this sale.
The board would like to thank you all for mining with us. We hashed 123 BTC so far, and will be receiving an additional 12 BTC, a total of >135 BTC.
We could have sold our units initially for a price similar to 135 BTC. However, this was not the will of the majority of FENIX shareholders. We wanted to mine, and that's what we did.
The board considers the entire FENIX experience to be a huge success! Good work!
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OK now it is obvious that the company lost >50 % by not selling the hardware as I suggested. Hopefully we get 10 BTC for selling now, 4 months to late. Fenix should have generated >95 BTC but only 80 BTC have been paid out. Was the rest for power costs and management fees? 2 monthy ago we could have sold the avalons for > 200 BTC. Now Fenix is as bust as Bakewell.
We took a vote on how we should proceed upon receiving the units. IIRC only 1 person voted to sell the units. > 200 BTC is a very optimistic figure for a sale price, it might have been only ~125 BTC. We have mined > 91 BTC with our units so far. 3% Btcguild fee, plus electricity costs, yes. |
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Fenix should have generated >95 BTC but only 80 BTC have been paid out. Was the rest for power costs and management fees? 2 monthy ago we could have sold the avalons for > 200 BTC. Now Fenix is as bust as Bakewell.
We took a vote on how we should proceed upon receiving the units. IIRC only 1 person voted to sell the units. > 200 BTC is a very optimistic figure for a sale price, it might have been only ~125 BTC. We have mined > 91 BTC with our units so far. |
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15 BTC would be perfect for the sharholders So a fair price for the Avalons is somewhere in between 12BTC and 18BTC? Therefore, it's reasonable to ask for 15BTC?
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Some people still pay > 1000 USD on ebay for an avalon. So whats being done with the shares/asic's? Once the last dividend is handed out everything is worth 0 ?
Will there be any further transactions outside of Bitfunder?
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The avalons are worthless. Why not distribute the cash reserves? This is the best option for US shareholders. What are the options at this point for Americans with shares? I'd like to hold direct shares, or maybe you could work to get on Havelock. Any word from a Fenix rep yet?
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@nameface: could you please distribute the 50 BTC planned for future investments as final dividend?
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I wonder what kind of hardware a company with 2.5 BTC dividend and a market cap of less then 50 BTC can buy. 2 monthy ago we could have sold the avalons for > 200 BTC. Now Fenix is as bust as Bakewell. I think I worked it out to be around, having to double hashing speed every 10 months or so (I think it was more than this, but rounding it down a little), so we need to be sure that we have enough saved in "the last period" to get the newer gen hardware as it comes out, skipping a gen between orders perhaps.
I'm hoping to propose we invest in a particular deal I'm involved in that would get us in on a large group buy. These will be managed through a new hosting facility for asics that will offer cutting edge features. Details are coming soon. There are no guarantees the deal will go through, but I'm sure we'll find good options on an ongoing basis regardless. |
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People don't understand that we need to double hashing power every month to stay even with the increase of difficulty.
Market cap of Fenix dropped below 80 BTC so shareholders lost 90% of their investment the second time. The only reasonable action was to sell the 2 avalons and start with a new IPO.
I wish I had sold my shares the first day...
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TO ALL FENIX SHAREHOLDERS!
The time has come to make a decision regarding the distribution of our incoming BTC.
The board's recommendation is as follows:
- 60% Allocated to hardware reinvestment
- 40% Distributed in the form of a weekly dividend
------------------------------------------------------------------------
how about 60% Allocated to hardware reinvestment or buy back shares?
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Hi,
lets try some mathematics:
Next week the Difficulty will be 50 Mio. The rate increases approximately 50% per month.
So the Difficulty in November will be 170 Mio. The total amount of BTC our Avalons will mine till November is less than 100 BTC.
No matter if we use 50 % of the dividends or sell 1000 new shares, we will not get enough BTC to buy hardware that makes Fenix sustainable.
In my opinion discussions about investments in other shares are not helpful either. Fenix is not an asset manager. Shareholders can just invest in other shares on her own.
Unfortunately we got the Avalons just 3 months to late.
We should try sell the Avalons and start with a new IPO to invest in the new generation of miners.
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Board members are discussing the coupon schedule.
Dividend payments *************** Dividends are paid twice weekly and based on 70% of total mining proceeds from all equipment owned by Fenix minus Expenses described below. Is there any open question left for discussion? |
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do we get a dividend totay?
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Future investments. I think it makes good sense to place 30% funds not paid as dividends with coinlender. But without locking it in. And then when we are ready to invest, we should go for a diversified group purchase like the one CoinHoarder is doing. https://bitcointalk.org/index.php?topic=268280.0Order from multiple vendors. Maybe issue new shares to place the orders from multiple vendors. Or maybe just join a group buy already happening where we don't have to raise more funds, but still maintain the growth. If we have to issue new shares - how would we go about calculating the strike price? One choice for any new shares would be a completely new issue, probably as a type of bond or loan. Maybe named "Fenix.Grow," offering a flat percentage dividend that begins paying on a specific date, say 1 month from now. The bond (or loan) could be bought back from the growth fund at a flat rate percentage on a specified date. That satisfies keeping the Fenix asset issue intact, gives Fenix itself working capital, and offers a repayment plan. That new issue could be placed on any exchange, because it would be separate from the Fenix asset issue. How's that?  It is the only way it should be otherwise I am out. Dilution by adding shares would mean falling prices. Agree 100%. We could also use the remaining 30 % to pay out a dividend for the new IPO. People need to see that they do not have to wait 6 month for any r. o. c. |
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We are making currently 12 BTC a week to substain the business. How do we invest the money to make our business case sustainable? I guess we need an additional IPO and new hardware soon.
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