Hmm...tough spot to be in.

Dear Buyer,

You have your gear and Larry doesn't have the money. Does that seem like a fair arrangement?

Did Larry get a discount from cointerra for the 20day delay?

Did Larry get any reimbursement from cointerra? (or any other benefits that we can pass on)

Any discount is coming out of the group buy collective's pocket.

Please justify the (1 - 4.2/7.8 ) = 47% discount.

Did the earning potential drop by 47%? Was the clock rate reduced by 47% as expected?

If one expects, a bitcoin ASIC to have 12months life, then 20/365 is about 5% of the year. 10% discount is more than generous.

Every ASIC manufacturer has had delays in some way. So one would expect, a purchaser of ASICs to have an expectation of a delay.

Please offer a more reasonable discount amount.

Thanks.

-- Craig

I have about 10.5BTC in play.

So not sure what's going on.

I like to think maybe something good will come.

It did sound like he did have a lot of bad luck though.

I'm lucky, I can still go on, and not much in my life is different. I feel sorry for those, where it's affected disproportionally.

It's events like this, where I'm out of the rat race that is mining.

Any updates via secondary communication. Skype?

-- Craig

The profit ratio is getting close to expenses are >= 50% of revenue. And the BTC price seems to be dropping like a stone. This ratio is getting eaten alive from both ends.

It's getting real marginal, real quick.

Plus the network has a boat load of Neptunes coming which is going to push revenue down.

As I have no idea where you guys are I'm probably overseas, and I'm more than likely get hit with some import taxes bringing it into the country. I'm not that keen on spending more money than I have to. I don't think I'd even recoup the import taxes

I'm aok, to sell if you can and redistribute the sale proceeds. Even though we may still have a few weeks of profit - the time to find a buyer and ship is non-zero.



-- Craig

Let me add a 'me too'.

I'd been keen to go in a group buy for the KnC scrypt miner. Even if I gather enough funds on my own, I can't personally host one. The stats are insane.

I'd be leaning towards a Aug-Sept release. I'm not that optimistic.

-- Craig

Thanks.

Out of curiosity what's been the net payout per share since inception?

-- Craig

Best deal I've found so far is www.cloudhashing.com revenue re-investment option $15/GH

But to actual take advantage of it, you need to buy one of their plans, which the best price is $30/GH.

-- Craig

Eligius has been in 'safe mode' for a few days and no stats are updating.

According to bitcoin calculators we should be closer to 28BTC this week before expenses.

I'm happy either way, we have multiple units. So it would be quite easy to sell 1-2 to test market.

For me the critical point is when revenue is 2x expenses. At that point, it becomes obvious it's time to initiate shutdown and sell remaining assets.

We're still a long way from that.

I think we won't see the rise we saw before xmas. I think the days of seeing a double of difficulty in a month are behind us. I think once Cointerra roll out is completed, the crazy difficulty increases will be a little modest. I don't even see KNC Neptune making all that much of a dint now.

Also, it's real hard to find other BTC revenue streams atm (reasonably priced).

(BTW I'm happy to be proven wrong)

-- Craig

Can I make a motion about the namecoins?

The namecoins are a non-trivial amount now. (About 9BTC, rough calc, given <40BTC div distribution).

Given the trading of shares, it's going to be hard to track down in future who owns which namecoin.

Can I propose that namecoins be traded to BTC before div payment, and then included as part of the weekly dividend?

If one thinks that holding namecoins is a better option, they can buy some with their div payment. Worst case they lose <24h of NMC price movements.

-- Craig

No one knows.

All that is public is Q1/Q2 which translates to anywhere between Jan-Jun.

But, to be competitive with other brands they have to be considering a Mar/Apr time frame.

Given it's 20nm - which nothing out at the moment is 20nm (not even CPUs/GPUs), they are giving themselves some breathing room.

The real question is going to be - how much above 3TH will it be? Given they have a history of understating capability.

-- Craig

I can't understand the complaints.

What is the percentage return for you guys? 1-2% ish per day?

Go find me an investment that returns that today. (You might be able to make that on highly leveraged options)

Looking at last dividend, 80ish BTC, on 6ish BTC expenses.

As long as the equipment is running, The global hash rate can increase to 10x what it is today, and we're still making >10% on operating expenses.

The good thing about buying at the KnC level, is that the efficiency might be good enough to last out this crazy global hash rate increase at the moment. Once the hash rate settles down to a more modest increase rate, we might still be standing and making BTC above expenses.

The Dec-Jan period will be interesting with release of Cointerra. If we can ride out this increase...we'll be doing well.

-- Craig

The reason for BTC's dollar value is self-referencing.

It's value is a combination of hoarding (creating less supply) and the fact the easiest way to by mining ASICs at the moment, is with bitcoins (increased demand).

The current crazy exponential difficulty is going to plateau in January (after Cointerra release). After that, the tech just isn't increasing at the current rate (double every month-ish) So there's going to be less demand ("my current equipment isn't the best, but good enough")

So come January, there's going to be less demand. The price is going to drop. Or best case, the current crazy rise ($300USD/BTC approx) will also plateau.

-- Craig