btt

[solstoce]

Ya I edited my OP

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[miTgiB]

My only problem with ASICMINER is there is a lot of future hardware sales priced into the shares, and as fickle as this market is, and as stupidly as they trade, at least buy on the bid which is very thin, so if someone crushes the bid you are there supporting it somewhat.

I personally wouldn't buy as large an exposure, as few as 30-40 shares would double our weekly dividend rate.  I just have a mental malfunction letting lose of the bank with the risk of someone else's mining, even though I do hold ASICMINER-PT personally. So it is not the security suggested, it's the current value and the ease to get out if needed.  Sure we can get out easy now while the demand is high, but when we want out, it will be under other circumstances, mostly something negative has happened, like the Chinese government sticking their nose where it doesn't belong.

[jmutch]

Agree with using AM pt shares to keep things liquid and utilise non invested capital. somewhere between 50-200.

Disagree with playing the market for profits. This is way out of the arena of bASIC and is risky. however if these profits come naturally then well....

[malona82]

my thoughts are that we need to do something with a portion of the funds in the bank.  I would rank them asic aftermarket>blades>AM shares.  But definitely think something has to be done.  There is going to be some risk associated with buying AM shares but then again there is the same risk of owning basic shares. 

[iCEBREAKER]

What about an AMC pre-order?  They have lots of Avalon chips on the way.

Virtual Mining Corporation is now taking pre-orders for its
Fast-Hash-80 80 GH/s Bitcoin Mining Machine.

www.virtualminingcorp.com

Fast-Hash-80 80GH/s Bitcoin 2013 Special 20% Off Special Good Thru 5/21/2013

http://virtualminingcorp.com/shop/index.php?id_product=8&controller=product

BTC 68.00

Tons of expansion options too!

Hey iCEBREAKER. Happen to know if they have a confirmation date on receipt of those chips? Does anyone? This is not btw a rhetorical question. I'd expect Avalon to ship batch 3 prior to shipping their chips or there will likely be some unhappy customers.

I noticed from the pics on VMC's site that they have a standard PC IO on that unit, I wonder how there's room to house chips and cooling in there with a PC board(even mATX) as well. I wonder if there are pics of the unit open available?

Cheers.

I haven't confirmed their order with Avalon, but this seems legit:

SPRINGFIELD, MO, – May 28, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines is announcing today that they have ordered (Order: #10409) a full batch (10,000) of Avalon chips to build ~29 Fast-Hash-80's for AMC should AMC provide the capital in the next few weeks, this would bring AMC machine total to 39 units. The 39 machines will bring the cooperatives hash power to 3,504,000 MH/s, 3,504 GH/s, or 3.504 TH/s. At the current Difficulty of 12,153,411.71 this will bring the estimated total revenue as of this writing to a total of $19,280.28 per day and a yearly amount of $5,398,450.75. AMC is a hybrid mining and development cooperative and a business unit of VMC.

Would publishing AMC's bitcoin address add transparency since we can see proof of purchase of Avalon chips, etc.

I think it would:  Here is the address we are holding bitcoins at to purchase the chips:  16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP

We would like to purchase a full batch as group purchases have a commission of about 9.5%

Where did the other 460BTC go?

We have already made deposits to VMC for machines and they have purchased Avalon chips in steamboats batch 1.

We will be posting on bitfunder a full accounting of the funds by the 15th of June for the month of May.

[carnitastaco]

really glad to see the fund taking action to reduce the number of BTC sitting in cold storage, and measuring investor opinions on various options.

Just want to point out that VMC/AMC is almost certainly a scam (ok, its certainly a scam to some degree, I'm just not sure if its 100% scam or only mostly scam) and should not be part of any conversation about this security. 

[iCEBREAKER]

really glad to see the fund taking action to reduce the number of BTC sitting in cold storage, and measuring investor opinions on various options.

Just want to point out that VMC/AMC is almost certainly a scam (ok, its certainly a scam to some degree, I'm just not sure if its 100% scam or only mostly scam) and should not be part of any conversation about this security. 

VMC/AMC has posted the receipts for their Avalons and order number for Avalon chips:

 


Avalon can easily confirm or deny their validity.

But yes, I'd like to hear from somebody who actually met Ken at Bitcoin 2013 before we invest in their hardware.

[creativex]

I haven't confirmed their order with Avalon, but this seems legit:

SPRINGFIELD, MO, – May 28, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines is announcing today that they have ordered (Order: #10409) a full batch (10,000) of Avalon chips to build ~29 Fast-Hash-80's for AMC should AMC provide the capital in the next few weeks, this would bring AMC machine total to 39 units. The 39 machines will bring the cooperatives hash power to 3,504,000 MH/s, 3,504 GH/s, or 3.504 TH/s. At the current Difficulty of 12,153,411.71 this will bring the estimated total revenue as of this writing to a total of $19,280.28 per day and a yearly amount of $5,398,450.75. AMC is a hybrid mining and development cooperative and a business unit of VMC.

Would publishing AMC's bitcoin address add transparency since we can see proof of purchase of Avalon chips, etc.

I think it would:  Here is the address we are holding bitcoins at to purchase the chips:  16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP

We would like to purchase a full batch as group purchases have a commission of about 9.5%

Where did the other 460BTC go?

We have already made deposits to VMC for machines and they have purchased Avalon chips in steamboats batch 1.

We will be posting on bitfunder a full accounting of the funds by the 15th of June for the month of May.

Thanks for the heads up. I see they're moving more shares than ASICMiner on Bitfunder...someone buys their story.

[matt4054]

This seems rather obvious but if BASIC-MINING buys AM shares, even if the target is PT on BTC-TC (which is better for liquidity, ok), if the market price sets the bids <2.5 too low in the order book, then do not buy at market price but buy direct shares at 2.5 (fixed price through bulk sellers), then transfer them to BTC-TC via burnside.

[creativex]

With 2590/3972 yes votes(65.2%) I'm going to proceed with the assumption that the motion to invest a portion of idle funds in ASICMiner-PT will pass. If enough votes are changed over the next few days to alter the outcome of this motion I will liquidate whatever shares have been acquired at the best price available. I feel it's in our best interest to obtain these shares over time so as to maximize shareholder value.

Last dividend from ASICMiner was .02653753/share. With a current 24h avg share price of 2.5131 that translates to a generous APY of 55.061%. Their current hash rate(23.97Th/s) and share of the network(28.28%) are both at or near all time highs.

Cheers.

[CanadianGuy]

With 2590/3972 yes votes(65.2%) I'm going to proceed with the assumption that the motion to invest a portion of idle funds in ASICMiner-PT will pass. If enough votes are changed over the next few days to alter the outcome of this motion I will liquidate whatever shares have been acquired at the best price available. I feel it's in our best interest to obtain these shares over time so as to maximize shareholder value.

Last dividend from ASICMiner was .02653753/share. With a current 24h avg share price of 2.5131 that translates to a generous APY of 55.061%. Their current hash rate(23.97Th/s) and share of the network(28.28%) are both at or near all time highs.

Cheers.

Good decision.  Call it a savings account for when the time is right   This is so much better than dead money

[carnitastaco]

Thanks for the heads up. I see they're moving more shares than ASICMiner on Bitfunder...someone buys their story.

yeah, the asset issuer.

[solstoce]

So word on the street is some guys that ordered there batch 2 on the same day as us got a tracking number today any word on ours?

Hi solstoce, nothing yet, but I'll keep an ear to the ground. I saw that...very encouraging.

https://bitcointalk.org/index.php?topic=167726.msg2295271#msg2295271
 

  sucks to be last!

[malona82]

So i guess BLF is about to start shipping.  This is probably not that good for us.  I hope we get our Avalon soon or the network hash rate is going explode without us.

[creativex]

So i guess BLF is about to start shipping.  This is probably not that good for us.  I hope we get our Avalon soon or the network hash rate is going explode without us.

I was under the impression BFL had begun shipping weeks ago to folks that ordered last year about this time. The estimate on next difficult increase at this moment is +24.86%. Difficulty has been exploding for some while. Avalon is shipping out of sequence and not communicating at all, but they are shipping.

Cheers.

[matt4054]

So i guess BLF is about to start shipping.  This is probably not that good for us.  I hope we get our Avalon soon or the network hash rate is going explode without us.

Not really, they were about to start shipping last November December January February March April May. Furthermore, those marked 'Delivered' on this list are the result of BFL's own claim on their blog, that they have shipped all Jalapeños ordered during the first 3 days. So it was a mass-update, not individuals updating their order status. Currently, there is probably more hash power on the BTC network coming from AM Blade sales than BFL Jalas.

[solstoce]

Batch 2 had stopped shipping because there was something overheating and melting on the boards is what i was hearing earlier this week maybe they are fixing it b4 its sent we will prob get our batch 3 before our batch 2

[creativex]

Batch 2 had stopped shipping because there was something overheating and melting on the boards is what i was hearing earlier this week maybe they are fixing it b4 its sent we will prob get our batch 3 before our batch 2

Hi solstoce. Do you have a source for that information? I've not heard such a thing.

The latest information I've seen is presented in this thread:

https://bitcointalk.org/index.php?topic=146451.msg2360516#msg2360516

[CanadianGuy]

Batch 2 had stopped shipping because there was something overheating and melting on the boards is what i was hearing earlier this week maybe they are fixing it b4 its sent we will prob get our batch 3 before our batch 2

probably overheated because their overclocking them to shit as they make money off mining with all their inventory

[iCEBREAKER]

The BitFury pre-order scene is hotting up.  Another potential source of hardware.  Or scamming.   

https://bitcointalk.org/index.php?topic=223656

KnCMiners are also Coming Soon^TM.

https://www.kncminer.com/categories/miners is now taking orders.

Video demo of Mars in action: http://www.youtube.com/watch?v=foeBUcagT2s

I'd prefer Basic Mining place its bet on KnCMiner, because that's the one hardware company I've yet to get exposure to!