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This thread has some info, and there are other threads with more: https://bitcointalk.org/index.php?topic=348468.0Basically, WeExchange somehow lost around $2m worth of Bitcoins. We don't know the reasons yet, but apparently good people are working to somehow rectify the situation, and all we can do is hope. Thanks for the quick summary, appreciate it. |
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Anyone been able to get their money out of WeExchange yet?
The claims website says "balance stuck".
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How'd you guys get your money out of Weexchange? Error: Minimal withdraw amount of 0.1 after a 0 fee was not met.
Wallet BTC 0.09443700 |
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Hey, Groupbuy 2 and 3 had 248 shares instead of 124, so got 50 bitfunder shares each, the quote above is from when there was only a groupbuy 1  Thought so, didn't expect you guys would make an error like that Thanks for the quick clarification! |
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4. We have increased original forum share value from 1 to 100 ADDICTION shares. So for each original forum based share, you will be issued 100 ADDICTION shares.
I've been pretty busy for the past few weeks but I just realised something.. I bought 2x forum shares at 0.35 BTC each for a total of 0.7BTC [3rd batch], and I have only been issued 100 shares on BtiFunder. Is this a mistake or ? |
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I sure do. KnCMiner just announced today they are working on 20/16 next gen chips already- This time I will will not wait so long to purchase from KnC- they have already proven what they can do and I will not let my hesitation be the form of delays.
Neither will anyone else  |
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Can't login.
Just an endless redirect.
Website is quite slow as well
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Will pre-orders be allowed to be cancelled at any time for any reason?
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New machines for xCrowd added. Did I miss anything else while I've had my head buried in research?
xCrowd Pavonis is apparently 60GH now |
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I'm paying in BTC. Ahh ok didn't realise this. Just a suggestion, shouldn't we dilute the shares with the current btc price difference like 98/100 = 0.98 and issue another share (even a partial share) for 0.98% of the miner capacity?
I think this is a great idea. At a price of $98, it means you would have to issue an additional 1.63 shares. And instead of 5 GH/s, we each receive 4.9 GH/s. Nope- That's just going to complicate things. The magic number is $100.
Don't agree, but it's your groupbuy. I'd highly recommend reconsidering his idea if BTC price does not rise soon. How early in October we receive it could still be affected |
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It's just about on a hundred
You should put a BTC sell order in at 100 USD so it sells even if you're afk
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We are finalizing negotiation with our hosting partner (a datacentre in the netherlands) so I can't give any exact numbers yet, but it should be cheaper than KNC hosting ($350 per month per miner). I din't know what you mean with 2 or 3 cents, but one miner is 1KW so it won't run very long on 3 cents So, let's say running costs were 300 per month, then: 300/30/248 = 4cents/day/share? Would that be the correct calculation? And apart from this, there are no other fees involved right? |
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Hey waldo
Just to confirm, so each share entitles us to revenue from 5 GH/s, minus 3% fee?
You are aware that depending on the difficulty rampup, it is possible this 3% won't cover running costs?
So I'm assuming running costs will be covered using your own funds (/profit you make from this groupbuy)?
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So the miner is essentially being divided into 248 shares except you will own 8 of them (+12 more)
Can you give an estimate of running costs per day per share?
Electricity won't be more than 2 or 3 cents
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Could you please update the profit calculations for 21% and more difficulty growth?
Or maybe someone can recommend a good calculator that allows both to account for difficulty growth and delay in mining start?
http://www.bitcoinx.com/profit/ is a very good one For estimated starting difficulty use the formula: X*(1+Z/100)^(Y/13) where X is current difficulty Z is % difficulty increase per cycle Y is days till delivery For profitability decline per year use: 1/[(1+Z/100)^(365/13)] eg. for 21% increase and hardware arrival in 90 days starting difficulty: 26mil * 1.21^(90/13) = 97907276 profitability decline per year: 1/[1.21^(265/13)] = 0.0047385 Plug those values into the calculator with your other info Too easy Keep in mind that a linear percentage increase in difficulty is very unlikely and so predictions of more than a few months or so will be inaccurate |
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$1,000 per Bitcoin would be too hard for people to buy and sell them, so I hope it doesn't go that high actually.
A Bitcoin is divisible by 100,000,000 (called a Satoshi) so the rising value of Bitcoin will likely never become a problem. I would be happy if it reaches $1000.. Offtopic : can any of you guys tell me on what basis does the BTC price increase ? It's a case of demand vs supply. Demand can be affected by many factors of course and if it were easy to predict, I'd be a wealthy man. Anyway, I'm just making my first post so that I am allowed access to the rest of the subforums. A slightly annoying restriction, but if it stops spam/bots, I'm all for it. |
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