Hello!

I have:

5 x 1oz silver (Canadian Maples)

1 x 1/10oz Gold (Canadian Maples)

1 x 1oz Gold (Canadian Maple)

We will discuss the pricing in PM but it will essentially be

(maxcoin rate @ mxcNOW) * (kitco.com spot price / bitstamp bitcoin price)

Come on guys, gold at SPOT for maxcoins.

Free shipping anywhere in the world!

My MSI 290x GAMING OC edition gets 220 MHash using your cgminer I don't understand why.

Hello, I am here to announce (unofficially) that mcxNOW proudly supports maxcoins at launch!

Maxcoins are currently trading at over 0.01 BTC on mcxNOW. When I first wrote this post they were trading at 0.02. Now they're 0.014. The price is jumping all over the place but seems to be stable over 0.01 BTC. They hit 0.04 a couple hours ago. This is an amazing ride!

mxcNOW is the only exchange which gives you interest on your maxcoin (and BTC, LTC, etc.) deposits. It is FAST. There's 5,000 people online right now and there's no lag.

Non-referral link: http://mcxNOW.com

Referral link *(thank you): http://mcxNOW.com/?r=usagi

Good luck and happy mining!

Sorry to hear :/ I always buy direct from Amagi or a supplier like FirstMajestic, so I never have any issues.

Thanks for asking! That's a good point I forgot to mention. No, I won't accept escrow because I need money for investment 'tonight' (for example, maxcoin).

I do understand why you might want to use escrow, all I can say is that I have a lot (a lot) of refs deep in the community and I have been running multiple investment funds in the community for years. I just repaid a bitfunder loan early despite the price of bitcoin rising 10x during the loan, for example.

Photos are available if you want to see the coins first. I'll even do something strange like hold a fork with some blue cheese on it near the coins, or write usagi on a piece of paper or something. That's about all I can do atm tho.

Introduction:
Hi guys. I've bought and sold hundreds of oz. of sold silver and gold here over the past year-plus. Some of you may know I ran TU.SILVER before BitFunder shut down. In short I'm a trusted seller and can easily come up with references if you need to see them.

Today's Deal:
Ok! Today I have for sale:

1 x 1oz Gold 2011 Maple Leaf
1 x 1/10oz Gold Maple Leaf
25 x 1oz Silver 2014 Maple Leaf

All the coins are new and untouched condition. I.E. They are "very clean" and have no dings or marks on the surface. The gold coins are individually sealed. I can take custom photos of the coins for you if you're interested in buying them.

Prices are kitco.com spot/bitstamp for gold and kitcosilver.com/bitstamp spot for silver. <-- Price lowered from spot+5%!
Free shipping anywhere in the world! (7 days)

How to Order:
1. Send me a PM indicating your interest.
2. I will give you a quote and a clean deposit address.
3. Give me your mailing address and fund the address and I will mail the coin(s) to you.

Thanks and good luck!

it's 6am in japan and I am pissed right now, yeah.

I've been watching six new pages of info here since 7:30.

It's been 30 min since the last update on twitter.

What is going on ? Where is the miner?

Please +1 this on reddit if you can see it, as a way of counting how many people see it. Where's the update?

Again -- I did not post this. I have nothing to do with the videos. I just linked them. Can you please explain how that makes me guilty of child rape?

Inspired.

I do believe you have taken this too far.

Yes, mentioning child rape was what pushed it over the edge.

You sir are a SICK man. Seek help.

So what you are saying is, users are responsible for the content of a link they post? That's an interesting political platform.

Well I hate to burst your bubble but I did not enjoy posting the link. I felt it was my duty to raise awareness. I'm sorry you took it the wrong way.

Huh? I didn't make the video. Someone else posted it on Youtube.

You don't.

Back in 2011, someone necro'd the 'deprived' account in order to attack me and the fund I ran (BMF). To make a very long story short, I successfully fought off his anti-competitive bullshit and was able to get re-listed on BTC-TC after quite some months. Deprived is now another strike in the long list of trolls who called me a scammer only to turn out to be scammers themselves. Like Ian Bakewell and EskimoBob.

BMF and TU.SILVER have been making redemptions to our shareholders privately over the last few months. One of our largest recent redemptions was 45oz. of physical silver to Nam. Now that redemption/liquidation orders have died down I am looking around to re-list (on 796 or cryptostocks?) and continue running. That is because I always do my best not to screw things up. A great example is we just finished paying off a BTC-denominated loan on btcjam despite the 10-fold rise in BTC: https://btcjam.com/listings/5938 "Thanks Usagi for paying this loan back. You had some trouble with this one when a few btcstock exchanges closed down back in oct-nov, but you sorted things out and even paid off the last part of the loan early, thanks." (from: thy Jan 24, 14:10)

One thing you may be interested to know is that BMF will be buying deprived debt. In short, if you can prove/sign/guarantee your deprived debt to us, we will issue you his shares of BMF. This way you can actually sell them and get your value back. We will probably offer to buy his debt at 90 cents on the dollar. More news on that later -- but feel free to PM me, I've been answering my PMs and emails this whole time.

Beyond that I do not have any connection with the guy nor do I know what has happened to him. In a friendlier world I might try to care a bit more too, but after putting up with his garbage on these forums for over a year I am more inclined to just let it pass than make this boring post any longer than it needs to be. I am just thankful I sold out of his funds on BTC-TC before the shutdown was announced.

If you have any questions on BMF there is a recent thread on the subject marked 2014. TY.

FAQ/COMMENTS

1. You should really consider switching your operation to a decentralized pool as to not contribute to the weakening of the network by encouraging use of a dominant pool. (-OgNasty)

A: ghash.io is "dominant" at 7 petahash (iirc) meaning it's one of the largest pools (BTCGuild is 6.3 iirc). However compared to all other mining, it is nowhere near a threat to the security of the network. That being said I'd happily switch over to a competing service given the right incentives. A partnership deal could go a long way towards helping both companies (hint!) I will also say that one pool we are taking a serious look at is p2pool node nastyfans.org:9332. They are collecting data to hand out lotto tickets to miners that will be used to receive proceeds from mined alt coins, since p2pool doesn't have a built in way to distribute them. This kind of innovation is what made them stand out from the crowd.

Hello friends;

I've promised many of BMF's investors that a news update would be coming in January and I've been dragging my heels a bit over it, but here are the basics.

Essentially, when BTC-TC shut down, I was one of the first people to start selling. Indeed some of you may remember that infamous post of mine responding to burnside which predicted the shutdown of BTC-TC just a few hours before it was announced. Unfortunately despite our prescience we did not escape unscathed. I can estimate losses of 25% due to selling into the bid. Those who doubt this strategy please be aware that the securities we did not sell (like FIMB) are now unrecoverable. For example, I haven't heard a response from Cognitive over the FIMB bonds we held (I believe we held 500, worth approx. 8 BTC at the time). That isn't to say I've put much work into recovering them. We do have contact with BitVPS over our BitVPS shares (4000+) and we have decided to hold the BitVPS shares for now.

Anyways, after the BTC-TC shutdown I decided to move forward on the silver conversion (essentialy the merge with TU.SILVER) despite Deprived voting no. There are a few reasons why I did this. First, what Deprived voted no on was a series of warrants attached to the deal. Secondly, because as CEO I believed moving into silver was the best thing that could be done with the money at the time, and third because I issued an additional 5,000 shares at 0.03 to myself, tied to the real estate project I mentioned just before BTC-TC shut down (more on that in a moment) giving me 70% control of the company. With insider ownership that strong, all I can say is that my personal interests were definitely aligned with every other holder of BMF and TU.SILVER, and with no possible way to hold a vote I just went ahead and bought as much silver as I could. We got out around $120/BTC on average as I recall.

We moved most of what we had after than into BitFunder, and therein lies a sad, sad tale. It's ironic, that after fighting for over a year to get into BTC-TC it should shutdown just a few short months later, and that BitFunder would shutdown right after BTC-TC. I had primarily invested in Ukyo's bond and Graet's bond (i.e. the weexchange bond) and shares like JAH and PAMB. When the shutdown news for BitFunder came I sold what I could and invested into places like Just-dice and so forth. But having to go through another 20% loss to get out before the herd really made me feel like shit. I believe I was justified in dumping our holdings, in hindsight had I not done it I probably would have lost everything. And on that note I really feel for the people who still have (hundreds) of BTC stuck with Ukyo.

I have now begun a process of moving our silver assets back into mining, and I am extremely pleased to say that as a result of me coughing blood until 5am every night trading and investing we have increased our megahash per share by over 50%, from ~5 mh/share to 7.5 mh/share fully diluted. The bad news of an increased difficulty has been strongly tempered with high bitcoin prices.

Let me try and summarize where our value is coming from these days so investors can get a fuller picture of our worth.

1. Income stream #1: 7.5 mHash/share = .0075 gH/share * 0.044 (price on ghash.io) = 0.00033 per share in mining assets

In addition, there is a sizable amount of silver remaining from the buyout of TU.SILVER -- ~140 oz. mainly in canadian silver maples. There is also a small quantity (less than 1oz.) of gold. At an optimistic $30 for silver, that adds approx. 0.00038 BTC/share in value at current rates (I am using canadian dollars, not US dollars atm). [edit: investors in bmf and tu.silver have now redeemed over 200 oz. of physical silver. If you still own shares of tu.silver, you now own shares of BMF. your purchasing power remains the same, you can still redeem 1 share for 1/10th an oz. of silver if you wish]

2. Approx 0.00038 BTC/share from remaining silver holdings.

Finally, there's the real estate deal I mentioned earlier. The return on that investment is a baked into the cake minimum 100% which will be realized over the next 3 to 5 years. How do I know that? Because we're being matched $2 per $1 and it was a distressed property. I'm going to be honoring the full value of that deal for shareholders by including that value in the "NAV" calculation we use to place the bid at 95% of "NAV" if/when we relist. A quick back of the envelope calculation shows that the $16,000 cash I put into that deal, if it does return 100%, would be worth 0.00237 BTC per share at current rates.

3. Approx. 0.00237 per share from our real estate holdings.

4. We have about 5 bitcoins left sitting in a wallet which I will probably use to buy the new butterfly labs hardware or maybe put it up on ghash.io. I was saving it for applying to list on havelock or 796, not sure. That works out to 0.00033 per share.


There will be residual income from the real estate in the form of rent which will begin paying out before the end of the year. I haven't included it in the calculations here because I have no idea what those costs will be.

Total is:
0.00033
0.00038
0.00237
0.00033
--------
0.00341 BTC/share

All things considered, I'd say we did a pretty good job of preserving purchasing power in the rise from $100 to $1000 BTC. During that time we went from about 0.032/share to 0.0034/share.

In retrospect...

I've learned a heck of a lot over the past 2 years running BMF and various other businesses. The most important lesson I have learned is that bitcoin is not legal tender. You cannot invest bitcoin and expect a return in bitcoin. It is a break in logic. If I invest $1000 in mining hardware, that mining hardware is going to be worth ~$1,000 next month no matter what the price of a bitcoin is. Once you invest your bitcoins, you no longer own bitcoins, you own what you invested in and if that happens to be worth 1, 100 or 0.1 bitcoins, has nothing to do with what you paid for it. This hard lesson was to understand the difference between price and value. Price is what you pay. Value is what you get.

I also strongly suspect that the rise in $/bitcoin is due to the rise in difficulty. Mining must always be profitable. This is a somewhat perverse idea, but it seems to make sense to me on some level. I am not sure if it is true.

Where we go from here with BMF is into a bright future. We are making 1%+ per week accreting gHash/share on ghash.io, and the silver and real estate saved our necks in terms of purchasing power. It's pretty much the same accross the board really. COGNITIVE fell from 0.55 btc/share on BTC-TC to 0.055/share today on Havelock, so I guess we did our job tracking the market. But going forward the least change I am making in how I run BMF is to never invest entirely on one platform. For example we will not be investing/living on havelock the way we used to "live" on BTC-TC. We're spread out over a number of different projects and investment vehicles. Had I done that long ago I don't think we would have lost so much money when BTC-TC and BitFunder shut down.

In terms of management guidance, and lessons learned from the past, I feel confident in predicting forward momentum for BMF in 2014. The goal is to relist somewhere by March/April, keep the assets mainly off-exchange this time, and I feel confident with a share price around 0.004 by that time (in terms of current $800/BTC exchange rates).

Questions or comments welcome. This is a self-moderated thread.

Why do you expect there would be one? Everyone has been mailed, and anyone is free to contact me. I check my messages and respond to all of them.

I'm in the middle of processing TU.SILVER holders right now, in fact I just handled a 10 oz and a 40oz redemption (the 40 is shipping out today if the post office is open). No one's silver is missing.

Just send me a message signed with your public withdrawal address and I'll get back to you. As you can imagine going to the post office 40 or 50 times is a little time consuming with everything else I have to do. Thx ^^

I think that if you are holding TU.SILVER shares, you should contact me and arrange to have your silver shipped to you. But there is no rush. I have a list of share holders, as long as you are able to sign a message with your address I will ship your silver anywhere in the world for free.

In fact if anything, NOW is the best time to move all your money into TU.SILVER. One of the beautiful things about TU.SILVER is that your silver is there no matter what. I am happy to say that TU.SILVER investors win in the long run. BMF, for example, after getting royally screwed by BTC-TC and then BitFunder in sequence, has been almost completely dessicated. At this point, without having any ability to invest it will have to shut down. But TU.SILVER investors are just peachy.

WRT the current "securities" situation, I think it is fair to say that the current environment is not supportive of any kind of website-based, bitcoin-based investment business. When it is, I will return in force, until then there's clearly no point trying. There's no reliable exchange. And there are few if any reliable investments. BitVPS is one of the only investments I value, because it has a consumable use.

The real world moves EXTREMELY slowly. I am still waiting on FedEx to clear silver shipments to me which I made 2 or 3 months ago. I am still waiting for MtGOX payments I requested 3+ weeks ago. The money and silver is there (I still have more than 50oz right on hand right now), it's just debatable how fast I am going to be able to box it for those who want it. 2 days? 3 days?

If I didn't explicitly say so, I am hoping to choose between a number of people who respond to the post. Of course I am hoping to attract someone who knows what they are doing That will be judged based on prior work, I guess.