You still have time, why couldn't you tender?

The main thing to take from this Million dollar order for 6 machines - whether it is genuine or some malicious attack - is that Ken accepted the order and came on here to let us know about it.

That tells us a lot of things:

We can manufacture and deliver the order in good time - the chips work, they perform as advertised.
We can make 6miners that are capable of taking 3% of total hash - for customers.
If we can do the above we can put enough miners on our own farm to make serious money.
Ken is keen to start sharing more details about our retail sales.

So even if it was a deliberately false order, the fact that Ken said we can fill this huge order is pretty significant.

Nothing worse than an uncivilised moron with a huge chip on his shoulder.

Poor VE isn't rich because Ken didn't do him a favour by dropping everything and transferring shares for him on demand. Do you think Ken is your personal stock broker or something? Get a life, grow up, and start talking to people how you would face to face and you might get on better in life. Blessed are the meek, not the abusive self-centred morons. Why you think anyone would do you a favour when you have that attitude is beyond me.



moron [ˈmɔːrɒn]
n
1. a foolish or stupid person

If someone has made a million dollar order they will know exactly when they will get delivery. This isn't some kid  ordering a 1k machine on his dads credit card.

Superb. That is a serious order. If we are confident of getting this to the customer in good time then we should be looking good on the mining farm too. Good work Ken.

No problem. You can also imagine the new exchange is like a big indoor vegetable market. All the stall holders are waiting inside with things to sell, then Ken opens the gates and lets all the buyers in.

The price for a bunch of bananas is set by the stall holder (seller) and that is only the price if the buyer agrees to it!

I won't be selling any of my bananas, I am waiting for them to grow into trees so I can harvest bunches from the lower branches - divs.

That was to ensure people could do a like for like swap and not lose any shares.

I'm guessing this is how it will happen - shares will be put on the exchange in users accounts to the full total of 10Mill, the exchange will then be opened for trading. Nothing will be in the asks and bids untill holders want to buy or sell so the order book will start empty. Then trading will begin and sellers will sell at what they want to and buyers will buy at what they want to pay.

I agree, 500k a month for a company with no firm shipping date is pretty incredible.

Expect that to shoot through the roof when we actually start shipping rigs.

About 0.0024 btc per share (10Million only) has still to be paid out.

There was no dilution as far as I understand. Still a total of 25Mill shares.

The total percentage cost associated with reinvest are not defined in the IPO agreement. So Ken can reinvest 5% or 100% of mined revenue and we have no contractual say in that. But Ken is open and responsive enough to allow us input into these sort of decisions - the most recent example was the feelers he put out on here over the Avalon chip refund application. He went ahead only after consulting on the thread.

So we are consulted and everyone is free to voice their own views on this. But like I say Ken can chose whatever figure he thinks is best. At the moment he is saying that is 50% but he might want to go higher but won't incase investors are not happy. Ofcourse he might think 50% will be more than enough once we get hashing seriously.

We can't expect Ken to be a stockbroker. He would covert the btc as and when needed I'm sure.

For example if 30btc can get us two more top end miners that will mine us 90btc over their lifetime then thats the sort of business decision I would expect him to make. He has far too much to do already without sitting around watching the price of btc fall and rally.

Sure that is possible, we discussed that on the thread recently. At 400USD per btc we are talking 12,000 USD over the next 2weeks. If Ken thinks we would be better over the medium term using the next months or so mining proceeds to reinvest I would be all for it.

But I would want to see a breakdown of why that would make our divs after that month of total reinvest substantively bigger than the agreed 50% reinvest. In other words I couldn't back a total reinvest without a clear explanation as to why its best for us and the company.

Such a shame about BF I could have bought a few more shares with the increased divs coming our way. I predict a surge in buying from the divs once we get live trading back.
Let's say it's another 2weeks before we get trading again- there would be about 30BTC in divs coming our way? That would be about 60k of shares being bought (at current prices if everyone reinvested).

BTW guys Ken is setting half the mining revenue aside for reinvestment as we know, so do we know if this 9.6BTC is before or after this reinvestment 50% has been taken off?

Good post. I would say we may already be hashing with the prototypes that has not been confirmed nor denied. Also our retail orders do not need to be shipped first. They will come off a 'different production line' and will likely be different products in some substantive ways. Finally difficulty rise may be lower than the sustained 30+% we have seen but who knows what or who is coming online in the future. We don't even know when WE come online

Good work, love your signature.

I just did, no one seemed interested enough to comment.

What if you go away and don't come back. Do you think anyone will be bothered?

If we can get 10 of our 25TH/s machines up and running in the next few weeks we will have 5% of total hash. And we only need to expand that to 70 machines over the following 100 days to hold that 5% in the face of 30% ish difficulty rise every 2 weeks.

It doesn't seem all that outlandish.

So that makes sense with BTC at $300? What about if it's at $500 next week?