This is part of Virtual Mining Corporation that is in the OP, but AMC is related to it.

VMC thread is here, I already took the liberty of grilling the CEO kslaughter, who has a history of several half-assed businesses under his name of little substance, mostly deflecting real questions about this so far and has shown nothing. I would stay away from it.

These are sexy  Nice work smoothie!

Miners are hurting bad today with BTC value plummeting all over the exchanges. The gold rush is already over, those with the first few Avalons were the only big winners to come out of it.

The rest still hoping to get their hardware soon will be faced with their units having a pretty low ROI unless Bitcoin rallys up hard. There is nothing saying we won't see another Cyprus that will pump Bitcoin and Litecoin back to a good ROI level, and I actually think there will be in time with more of these "bail ins" and people needing a fiat escape pod, but for now the mining scene is pretty grim 

Considering clicking "download" brings you to a "verification" that wants you to participate in a bunch of scammy looking "free riches! but you fill out a survey and sign up for some stuff" sites...

This thing is just a front

New meat


http://www.hongkongasics.com/

If your money is in a bank no longer belongs to you, it belongs to them and they can do whatever they want with it. A local bank to me instituted a $200 cap to keep your account free or face a monthly charge if your account balance is under that number. They think it is ok to hold your money hostage, needless to say no one in my family banks there anymore now, we all moved to a credit union instead.

Mining hardware itself has nothing to do with ROI beyond your starting cost to recoup, it is 100% dependent on the market price if miners make any returns or not. At the moment BTC will need a pretty big rally to support continued profitability, which has already fallen by more than half since beginning of June and still dropping. Right now mining coins is getting more difficult by the day but the market price is remaining the same, which translates into every machine added to the network takes a bite out of the profits of all miners on the network thanks to the difficulty increase, needing more and more gear to yield the same return which just compounds the problem further. Mining is outpacing market value at an insane rate, and it will have to correct at some point

Bitcoin's next moves will be based on the current economic model breaking down bit by bit, we will see more rallies due to bail-ins as people become desperate to leave their crooked banks. Cyprus not only set the standard for the "bail in" procedure (ie robbing their own banks blind to save themselves from insolvency), but the precedent for Bitcoin acting as an escape pod for investors and account holders that want out in a hurry.

Miners should be praying for such events or be stuck with mining machines that will not yield a positive return in a reasonable time frame. It isn't enough to just mine coins, we must foster the adoption of Bitcoin as well to drive up market value and use.

I think these things will play out naturally and probably not as expected, but we're in for a pretty fun (?) ride to say the least.

Profitability is tanking because of the combined greed of miners and these companies, the problem will correct itself in time when the hashpower plateaus, because why would you buy a miner now that the ROI is nowhere near what it was. Sales of these things will flatline along with it.

Unless Bitcoin increases in value dramatically nothing good will come of all this. Gold Rush 2.0, get ready to see some digital ghost towns appear

Quantum cryptography. Problem solved

It is funny to me that the US has been politely asking for Snowden back only to get a lukewarm response back from the countries he has fled to. Seems like getting caught spying on your neighbors with cameras and bugs, then going back over to ask for a cup of sugar.

Any word on actually getting Snowden some funds somehow? I feel if he had some kind of plan to do this at some point he would have secured himself financially somehow with such a high paying position, obviously he didn't just jump out of bed one morning and go "You know, I feel like dickpunching my government today and throwing away my life and career". Despite that, this man deserves some support for his sacrifices in exposing the real life Big Brother for what it is.

Im pretty sure the DEA always confiscates drug money, digital or otherwise, nothing to see here move along

I got banned for posting about their CEO being a convicted mail scammer...I think they don't appreciate you pointing out the terrible people behind this terrible company on their own boards

Galaxy show us something real or GTFO, no one believes your standard issue scam thread with zero backing evidence of any of it. If you're going to try and troll us at least put some effort into it.

The information you seek is all public record and the standards have been standard for decades, do your own homework.

Seeing many questions around regarding the worthiness of mining right now seeing the hashrate and difficulty jump to the moon, I would say the ROI problem is easily explained just looking at the charts:

http://blockchain.info/charts/miners-operating-profit-margin

Mining ROI chart, as compared to the network hash chart-

http://blockchain.info/charts/hash-rate

These are inverse, meaning of course mining ROI is decreasing with the rise in network power, currently rocking a solid 15% margin or so. Looking at the market valuation-


http://blockchain.info/charts/market-price

We can see the value of Bitcoin has maintained a more or less flat value (very erratic to say the least really, I know, but bare with me), but holding between $90-120.

We must also factor in that as designed, only less and less coins can be shaken from a block over time as well.


Analyzing this you can see the margin chart was more or less parallel to the market prices, then around the beginning of June mining ROI started a nosedive from around 50% to about 20%, a pretty fatal drop in returns in a very short period. During the same period the hashrate started out at around 76,000 GHash, and during that 30% ROI slide the hashrate rose to around 150,000 Ghash for nearly a 50% increase.

These numbers are only increasing currently.

So, each Bitcoin mined is only harder and harder to get, but is not increasing in value fast enough to offset the hashpower rocketship to make mining worth it. If BTC value was increasing alongside the hashpower increase the mining ROI chart wouldn't be diving the way it is currently, either maintaining the return rate or increasing.

What will happen is the markets will basically decide if this dramatic rise in network power is worth it to maintain. If Bitcoin maintains its current value then this "mining bubble" will pop when ROI effectively vanishes completely, and some miners will have a pretty bad day holding the bag on expensive hardware that will take years to pay itself off. I think we are inching close to a plateau if Bitcoin fails to increase in value itself soon. A plateau in hashpower would indicate no new power is coming online, which means Avalon and the rest of the ASIC hopefuls will see their sales flatline for a while.

Be warned, we are nearing a saturation point where it won't be worth it to buy a Bitcoin miner without a dramatic increase in Bitcoin's market price to sustain profitability. Really those that were able to get in with the first Avalon's and ASICMiner blades already won the race, anyone getting in now faces a ugly situation.

What his means is miners need to come out of their caves and get local businesses and people actually using this coin as intended to raise value and market price to stay alive before the eventual bust.

Now, I have no crystal ball, this is just the current situation and outlook based on preliminary information. Your ROI is also depending on your power and support costs to mine, so this is all in a general sense.  Bitcoin could have a massive rally tomorrow for all I know (and I hope it does every day ) and save the day. But counting on that to save you is reckless, and is just the risks of the mining game. Just think about this before plunging any money into an ASIC right now, and place your bets wisely.

Yeah, I am extremely sure this, GXMining, ASICRIgs, and GPURIgs are all related to eachother. Good find!
I think DeepBit fell off the map a long time ago, but Ill check into its status again

I actually spoke to them myself before I started this thread, it was indicated to me they were pretty backed up on current projects to the tune of August being the earliest they could take on any more major productions, though I have no idea if that has changed since then.

______________________________________________

Well, in the interest of transparency as promised, I present BlockBurner LLC 

https://app.mt.gov/cgi-bin/bes/besCertificate.cgi?action=detail&bessearch=C238415&trans_id=besa1317115155909d500

This has been most of the block for us to continue on these last couple weeks, but no longer.

Now, this is my current home address, I do ask that it is respected as such. I intend the actual shop space to be located in Missoula, MT, which I will be speaking to my elder cousin Jimmy Caras of Caras Property Management about very soon. (Through an odd coincidence Kares and Caras are of blood relation  )

Makes sense, I was able to go from no one to Hero in the span of 3 months...seemed kind of unfair to those who have actually been here since day 1 that have made the greatest contributions

Check out this BitBar Scrypt ASIC power supply  

https://bitcointalk.org/index.php?topic=238620.40



I found this one https://forum.litecoin.net/index.php/topic,4311.0.html, are there more?

I like that the cover on that computer power supply was taken off, look at the bottom edges, they are not slid into the bottom case