Here's the Labcoin thread in a nutshell:  First read the dog's speech on the right, then read the gnome part from right to left, then read the right dog's speech.  |
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OK fine. I'll take my troubles elsewhere.  Haha awesome thread though guys.  |
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Urg this stock game is getting to me. Thought I'd come here because the Labcoin thread is a huge mess plus creativex is a cool guy.  I'm still in high school and trying to learn all about this. I'm glad I only have 40 cents in Labcoin because right now nobody knows whats going on with it. I'm also hoping bASIC share prices go up, because right now I've invested around $25 and with dividends I've received counted in, I'm still around $10 in the hole. :/ **Not just with investments in bASIC, investments in other places as well. Oh well, at least I'm learning. |
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So does anybody know what the IP is that they're mining with? I want to see if they've solved any blocks yet.
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Ugh teek doesn't have these for anywhere near 0.12BTC, more like 0.29 before shipping. :/
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So creativex you don't think Labcoin is lying to shareholders about them having equipment online now? It appears lots of people in the thread do.
Eitherway, I just bought a single share in it, so not too much lost if it doesn't pan out.
Watching the Labcoin thread is better than watching TV. That is very true... |
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May we have some animated gifs here ?
I agree, we need more gifs I hope you pronounce it "jif" because if you pronounce it "gif" then you're pronouncing it wrong even though it's spelt gif and this only leads to one reasonable conclusion: being wrong = being wrong |
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So creativex you don't think Labcoin is lying to shareholders about them having equipment online now? It appears lots of people in the thread do.
Eitherway, I just bought a single share in it, so not too much lost if it doesn't pan out.
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It's not cold yet, I'm still running active cooling(AC) on our gear. 87f today, 92f tomorrow, 63f on Friday. Wild weather swings are how we roll up here.
Cheers.
You should move your equipment to the Canadian prairies.... -30C (-22F) on a daily basis in the wintertime. It's cold, but I can't wait to see how my PC runs in subzero.  |
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Creativex, I found this Avalon for sale on BitMit - not sure if you do purchases there but it's 68GH/s for $3500 (starting bid I believe) Link: https://www.bitmit.net/en/item/52330-avalon-asic-minerAgain, not sure if you're interested in these, or if you even buy from BitMit. |
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Yeah creativex be sure to take a well deserved break on your birthday, although share prices are down, I'm sure it'll work out in the end.
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Actually I have noticed this too.. mostly with high difficulty coins like NVC and LTC.. you can mine for 30 minutes.. then not go back and within 1 hour your mined shares are absorbed into long waits between finding blocks. So what happens is your 30 minutes of mining is gone and gives back nothing.. this happens more than it should as LTC and NVC can go a day without finding a block. There is no way to avoid this and it becomes a loss on a regular basis. Any ideas on how Flound could fix this?if we mine ltc and then switch to another coin without finding a block, will the shares count or are they gone after a while?
they "count" but the shares go away after a short while. I think this is a major problem with the pool. Flound I thought you said minimum 10 mins on each coin eveyr time there is a switch. I swear it switches more than that. Easy, change to Proportional or Pay Per Share. Proportional would be best as everyone gets paid proportional to the amount of shares they submit whereas Pay Per Share is more risky for the pool operator. As it is now, the LTC round time is set to one hour, yet it can take from a few hours to a few days to find a block. That means only the shares submitted at most an hour before a share is found gets paid anything. The rest of the shares get paid nothing. I think this is why many people are not seeing the profitability they are expecting. I vote for PROPORTIONAL!!!This^ Any issue I have had with this pool I would be willing to work on and have excepted them as not problems but the way things run. The time based PPLNS is not a good way to get paid and is the main reason for me not using the pool. I only use PPS or Prop pools with multiminer and I get almost exactly or a fraction of a percent more than my estimated. Why don't you like time-based PPLNS? What do you see as unfair about it? Even though we've done the work, but if a block isn't found during the time while mining a certain coin before it switches again, that work time has been wasted, and just wasted power. Like, even though we did the work but we didn't find a LTC block (for example) in a certain time frame we don't get rewarded for our efforts? |
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Seems like a great choice but why only 2 of them ?
What's wrong with you guys?! AS it is, we might break even on this purchase IF it comes early in October. Based on the current rate of increase in network hashing rate there is nothing out there for sale that will be profitable. Bitfury seems to be the best choice but people have not grasped the fact that they are playing a losing game and all of these companies producing ASICs are still able to sell them. There are unscrupulous people offloading their 5G BFL Jalapenos for over $1000 because there are uneducated consumers buying in on the hype. I wish we would all step back and see the reality of the situation. We are in a good position with BTC in the bank right now. Letting the market settle out is an excellent plan. NOOOooo you people would rather pressure Creativex to spend it all now on VAPOUR! He might as well disburse the pot of BTC to the shares and let bASIC-mining die as to do that. Creative has a good plan - let him execute it!! Sorry, I had to vent. Take care I agree! Even though shares are going down, don't think hasty! Sure if we buy more hashing power it might cause the shares to go up but think of a few things: 1) creativex doesn't have the equipment in hand 2) Since he doesn't have it in hand, there are chances we may never break even with them, thus wasting the money in the pot Buying more equipment won't be the solution when share prices go down, if they do again. Just watch and see. I'm fine that creativex hasn't bought any equipment for around 3 weeks, that isn't a very long time. He seems to buy smart, which is something most people here don't seem to understand/agree with but I think it'll pay off in the future. |
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Hi creativex, I'm always happy to see more equipment come online with bASIC and 800GH/s will be a large amount.
Do you mind me asking how much you paid for them? I checked both BTCT, this thread and the bASIC site and couldn't find any numbers.
Edit: I think I found it, 123BTC for them in total?
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The truth is I bought many shares at 0.48 and get some at 0.31. after drop, i think it is the time to rise. so i bought more at 0.22. now it is 0.18. i nearly loss 47 btc for this investment.
should i sold some? or keep watching?
As a mentioned last time, now it drop to 0.13. fine, I give up. This the failure investment I did. I am out now. bASIC isn't meant to be a short term investment from my understanding. It's a long term one. That's part of investing is going through the ups and downs of a stock, buying low and selling high. Obviously you bought high and you're selling low. Why not hold onto the stocks for a bit longer if you have any left? They might be going up now, they're currently at 0.14BTC. I bought one and have currently lost around 0.07 BTC, which is about 3 or 4 days of mining power for me. I was contemplating selling, but then I figured why would I sell it now? I'm getting healthy dividends and I'll wait it out to see what the stock does. I was half hoping it would go down to 0.06 BTC or so, so I could buy a couple more shares, but that's a longshot. |
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I read somewhere that somebody thinks only mining bonds such as this one with ties to ASIC companies such as Bitfury will survive the following difficulty waves in the next 3 months or so. Not sure if that's completely true, but it got me thinking a couple of things: Creativex if you have time to answer I'd appreciate it. 1.) Does bASIC have any affiliation with chip makers such as Bitfury so that bASIC can get equipment with faster speeds and lower power usage online quicker than other bonds? 2.) Is bASIC planning to purchase any KnC miners once they're released to the public and people start selling them used? Or, does bASIC have any kNC pre-orders waiting for delivery already? Just my daily couple of questions. Gotta keep creativex on his toes somehow! |
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So do these forks happen when a certain pool or person controls over 51% of the network hashrate, or how do they happen?
Seems they happen quite often with certain coins...
*cough* CAP
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Our share price is being driven by market sentiment and not fundamentals within the company. Even when we outpace the rate of network expansion it doesn't prop up the share price it merely increases our yield. Prevailing sentiment is that small mining companies and individual miners will be unable to compete in the near future. That I personally believe they're mistaken doesn't matter. I will continue to focus my efforts on the things within my sphere of influence.
Cheers.
If anything, IMO, time to buy more. Bring that average down and when it goes back up (it will), you'll be pleased. bASIC has to be one of the best run outfit, large capital reserves, competent management both in terms of technicality and financial reality. The dividends talk. I agree, some more equipment would be nice. I for one, would also be fine if bASIC took 10-20% off my dividend so that it's a 50/50 split between dividends and purchasing new equipment. I think in the long run that may increase dividends and if they ever went back to the 70% they are now, that would make even higher dividends. But again, not sure if you want to do that and not sure what other shareholders think. |
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