I think I'd feel safer investing in Crypto-trade itself.  I get awesome divys from crypto trade, more than ill ever get from any pure mining operation or any PMB. CEX.io is the best option for that. Since btcs are limited to 21 million exchanges are the only place for divys. In the fiat world divys can be created out of thin air since there's an unlimites supply of fiat. Theoretically if you owned all the exchanges you have the possibility of owning every btc over enough time and transactions. That is impossible in a fiat world because you need to creat more and more money to pay the interest in the fiat....btc is non interest bearing so that changes the thinking vs. Fiat thinking Please stop calling this a PMB or a pure mining operation. This is an investment in a company that produces it's own miners at cost to make and reinvest part of profit's into gaining more mining equipment at cost and creating newer generations of miners. At some point it will be smart to sell these machines, that is not now. If we have buyers, then sell them but you are kidding yourself if you don't think we will make more money mining with them. Each machine we sell (last time I checked was $155k) If its $2/ghs then thats $100K profit (minus a bunch of random stuff) per machine. Each machine can meet ROI in less than two weeks if we mine with it though. Now I'm not a very knowledgable when it comes to mining but it looks like each machine can mine about 16-20 times what it would cost us to make it at $2/ghs instead of making 200% profit, how about 1567% profit? http://mining.thegenesisblock.com/a/4290d9d40cEDIT: My bad guys, I forgot. Ken when do you expect us to start mining with our own chips again? I seem to not be able to find any information on that. |
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You've fueled it. I think I need to step away from this conversation. But before I forget. Ken when do you expect us to start mining? =D |
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Jasun I'm glad you decided to spend a couple hours or so actively researching before you responded. But I must say. What the fuck are you talking about? None of what you said matters at all.
"You can't accurately price in fiat." : Price what? BTC. Yes I can, I can look on Bitstamp or Coinbase where I sell my coins and see what the going rate is.
"Our debt based fiat system is open ended with an unlimited supply of notes. The Fed mines them everyday via the CRTL +P buttons. Btc has a hard limit of 21 million coins. Lets assume all fiat collapses tonight. No dollars. Everything is priced in btc. You buy miners in btc to get some btc divys rinse and repeat over and over. So your putting more value acquireing more coins in a constantly diminishing pool." : Again, what the fuck are you talking about? You want us to sell miners more than mine with them because the dollar can crash tomorrow? So if we sell a miner for $155,000 and the dollar crashes tomorrow this is better than mining btc which would be worth more money tomorrow because of the dollar crash?
I don't have the patience to continue on with you. My friend you are very delusional if you think more money will come out of selling these miners for dust change compared to mining with them. These miners can mine FAR more money than what we are selling them for. Please reread the bolded sentence until you completely understand that. Everyone on this thread except for you knows that selling these machines for crap change is not helping us as much as it is hurting us. If you don't want to invest in a company that mines. Then I ask that you leave.
I find this so funny by the way. You said "Remember we are after btc not dollars." So then why not mine with the machines which will get ROI in less than two weeks?
I forgot. My apologies Ken; when do you expect us to start mining? Sometime before Christmas of course, or I mean you would tell us right? Right? ( I would hope before the end of next week. ) |
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Jasun I'm glad you decided to spend a couple hours or so actively researching before you responded. But I must say. What the fuck are you talking about? None of what you said matters at all.
"You can't accurately price in fiat." : Price what? BTC. Yes I can, I can look on Bitstamp or Coinbase where I sell my coins and see what the going rate is.
"Our debt based fiat system is open ended with an unlimited supply of notes. The Fed mines them everyday via the CRTL +P buttons. Btc has a hard limit of 21 million coins. Lets assume all fiat collapses tonight. No dollars. Everything is priced in btc. You buy miners in btc to get some btc divys rinse and repeat over and over. So your putting more value acquireing more coins in a constantly diminishing pool." : Again, what the fuck are you talking about? You want us to sell miners more than mine with them because the dollar can crash tomorrow? So if we sell a miner for $155,000 and the dollar crashes tomorrow this is better than mining btc which would be worth more money tomorrow because of the dollar crash?
I don't have the patience to continue on with you. My friend you are very delusional if you think more money will come out of selling these miners for dust change compared to mining with them. These miners can mine FAR more money than what we are selling them for. Please reread the bolded sentence until you completely understand that. Everyone on this thread except for you knows that selling these machines for crap change is not helping us as much as it is hurting us. If you don't want to invest in a company that mines. Then I ask that you leave.
I find this so funny by the way. You said "Remember we are after btc not dollars." So then why not mine with the machines which will get ROI in less than two weeks?
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Ok I personally don't think Ken is solo mining with out shit, as long as he doesn't fuck this up he's looking to sit pretty for the rest of his life. I doubt he'll risk that for easy money now when he can have easy legal money in a few months anyways.
But Ken needs to inform his investors of what is going on with our mining situation and our chips. This isn't optional. Talk to your investors. When do you expect us to start mining?
Ken when do you expect us to start mining?
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I could be wrong about that though.
if production costs ~$2/GH (which it should, seeing as how cointerra is selling for $2/gh), then ROI is in about 10 days. In the short term it only makes sense to run a mining farm. I can run this through the profit calculator again with a screenshot to prove this math. How do you make ROI in 10 days selling the hardware, especially "if your margins are tight" as Ken has already admitted? I know that mining is where the money is. It's the other guy that is completely out of his mind. I want us to spend 100% of our energy to mining. Fuck selling, fuck wasting time on intellihash and trying to get on these shitty exchanges. Just start mining. Lets direct share this shit. |
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I could be wrong about that though.
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Read the release as if you were a laywer and think of the possible meaning of everyword. Just a little research goes a long way...verification and context. The box is open....come out and play.
So you know when we will start mining then? Thank you. So what day? Mining is a dimishing return investment....almost to the point where its moot at this point. Ken was pretty clear on that one. I'm sure he will keep it up as long as he sees it feasable but that's not the future. Mining should only be done directly by the minerif you want mining see how a PMB performed lately...in addition to all the equip delays. Forget it. As I see it pools are still a good option or mabey ever cex.io Please stop being retarded for one second. Mining is moot at this point? If we mine 1% of the global hash rate we'll get $252,000 a week. Now that's with what like 2 of our 24th machines? Imagine if we had 8, 4% of the global hash rate. $1,000,000 a week. Please stop posting on this forum from now on. That's what 1 Week ROI? |
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Read the release as if you were a laywer and think of the possible meaning of everyword. Just a little research goes a long way...verification and context. The box is open....come out and play.
So you know when we will start mining then? Thank you. So what day? Mining is a dimishing return investment....almost to the point where its moot at this point. Ken was pretty clear on that one. I'm sure he will keep it up as long as he sees it feasable but that's not the future. Mining should only be done directly by the minerif you want mining see how a PMB performed lately...in addition to all the equip delays. Forget it. As I see it pools are still a good option or mabey ever cex.io Please stop being retarded for one second. Mining is moot at this point? If we mine 1% of the global hash rate we'll get $252,000 a week. Now that's with what like 2 of our 24th machines? Imagine if we had 8, 4% of the global hash rate. $1,000,000 a week. Please stop posting on this forum from now on. |
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Read the release as if you were a laywer and think of the possible meaning of everyword. Just a little research goes a long way...verification and context. The box is open....come out and play.
So you know when we will start mining then? Thank you. So what day? |
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Ok now that everyone has given their two cents. Ken can we hear an update about how much of a delay the chips will be. When do you expect us to be mining? This should be a very simple question with a very simple answer. Just answer the question so people can shut thee fuck up.
These questions will not be going away. The more you dodge them the more you look like Labcoin to everyone here. You are doing the same thing to us that Ukyo is doing to you.
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Why is everyone overly focused on the mining farm anyway. We all know that soon enough google and MS and major corps will be involved in the mining. How are any of us in our moms basement or even the bug farms today going to compete....Personally I'd rather be on the side of selling Goog, MS, or IBM the equipment at over inflated rates. The best secret is as we all know ....as difficulty increases more and more machines will be needed. The small farms will be oboslete. Just think of what happened to the agri business over the last 100 years. That will happen to the crypto world over the next 2-5. I wouldn't want to be a small farmer today, or a small btc miner 2yrs from now.
Um. The logic in this is completely wrong. If Google and Microsoft and IBM all get into this very small market compared to what they are worth. Why would they buy mining equipment from us? When they can make their own. The mining farm is the business my friend. You think we will make more money selling equipment than mining with it? Are you sure about that? |
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Ken is the boss, not VE. Ken makes business decisions which are in the companies best long term interests.
If anyone isn't happy with this and wants to go off and set up a company with VE, please do, I'll drop by the forums, but on the way out the door, sell your shares as there will be a lot of interest the moment they are listed.
What are with these ultimatums? No one has to pick between Ken or VE. Ken is the CEO of the company we are invested in (including VE). And "if anyone isn't happy with this"? You are completely satisfied with the results of this announcement? You don't think there should of been a little more details? Why are people feeling personally offended? We should collectively be asking Ken about miners. The next 10 pages of this forum should be "Ken can you inform us more about our mining situation?" and that's it. |
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Crumbs my buddy 'ol pal. I think its me and maybe 3 other people who don't have you ignored (personally I won't ignore anyone because that's kind of stupid). But I must say, I take w/e you say with about 80 lbs of salt. Then I throw what you say away. Once in every 5th blue moon you might say something substantial but repeating some of the same stuff over and over isn't working for you. I know you can do better. Really make me feel desperation!
Personally though I'm happy we've shipped something, and that is good whether it be chips or not. It is more than a lot of us expected from what we've seen in recent weeks.
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Intellihash(tm) Intellihash is our new trademark for our new Bitcoin mining software which gives up to a 20% increase in hashing speed and has the possibility to increase the speed of our mining machines as the difficulty goes up. We have had to modify the software in our chips to make it work with our new software. The chips are going to be late; however, our new Intellihash software could be a game changer for the company. The significance of this word can't be underplayed. It's seems some people aren't quite getting it yet. and you're not getting that the chips are delayed. Most damaging announcement to shareholder confidence ever. VE is right on this. Whether Intellihash was implemented or not. We could have had nondelayed chips && intellihash. Now we have delayed chips && intellihash. It's not an either or. |
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Ken you are still online and you can see a bunch of random speculation going on. Feel free to fill us in on our own mining operation. You say we're gonna be late on chips. Can we get a date? Would be nice to know how late we're looking at here. Otherwise we'll be at the 300th page of this discussion by the end of the week.
Ken already gets an A for effort -- using the word "products" lets the children believe whatever they want, even working, shipping miners. Technically, he never lied, and by choosing his words carefully, he didn't break your hearts  This is what I'm afraid of. It cause these unnecessary speculation discussions where half of the people are doubtful and called FUD and trolls and half the people are overly optimistic. Lets try to stabilize the thread. Now I know we all believe Crumbs is a troll and doesn't own shares and all this other bullshit jazz but this is a serious issue that he brought up. Ken, it's been months. Please be a little more specific on some of this stuff. |
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Ken you are still online and you can see a bunch of random speculation going on. Feel free to fill us in on our own mining operation. You say we're gonna be late on chips. Can we get a date? Would be nice to know how late we're looking at here. Otherwise we'll be at the 300th page of this discussion by the end of the week.
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Yeah he needs to stick around and answer some questions. I knew mining wasn't gonna be a part of the announcement (I said this like 5 times) but it was more than those pdfs he gave last time imho.
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Eating my words right now. This update was beautiful.
How so? It's more than I thought it was going to be. I figured another balance sheet that made half a handful of sense. Now all Ken has to do is update us on our mining situation and I'll be a happy camper. |
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Eating my words right now. This update was beautiful.
Edit: Though I have to agree with everyone. Specific Dates would be nice.
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