btt

[creativex]

Travelling today so I've queued our daily dividend. This includes some payouts still confirming at this time. The breakdown is as follows:

Mining revenue: 4.21547746
Asicminer-PT: 0.27686700
Total Dividend: 4.49234446
Total Dispersed: 3.22770122
Reinvested: 1.26464324

Today's mining revenue brought to you by:

0.28643858      Slush
0.40449901      Slush
0.31000000      PolMine
0.36000000      PolMine
0.33000000      PolMine
0.35000000      PolMine
0.35000000      PolMine
0.10081071      BitMinter
0.81236861      Bitparking
0.71002396      Bitparking
0.20133659      Bitparking

4.21547746   TOTAL   

I'm still fine tuning both the Avalons and the pool configurations. Much of the past 24hrs we've been hashing 50/50 between polmine and bitparking. I have several additions to make to the spreadsheet and hope to get to that this weekend. Requests are most definitely welcome.

Cheers.

[creativex]

I've manually calculated 7d avg price to fix share & yield information messed up since the stock split. I'll recalculate daily until the exchange catches up.

Mining revenue was down a bit due to the monster block bitparking has been crunching on for the past 40hrs and counting.

 

[iCEBREAKER]

Mining revenue was down a bit due to the monster block bitparking has been crunching on for the past 40hrs and counting.

Getting real tired of this variance and lost blocks.  Who else is ready to change to 50btc's 3% pay-per-share? 

It would be very nice to know ahead of time and easily verify exactly how many BTC/24hr we should be earning, instead of futzing around with multiple crappy pools and hoping it all somehow evens out.

[creativex]

Mining revenue was down a bit due to the monster block bitparking has been crunching on for the past 40hrs and counting.

Getting real tired of this variance and lost blocks.  Who else is ready to change to 50btc's 3% pay-per-share?  

It would be very nice to know ahead of time and easily verify exactly how many BTC/24hr we should be earning, instead of futzing around with multiple crappy pools and hoping it all somehow evens out.

I believe we've come out well ahead of expected earnings had we been running pure pps at a rather stiff 3% fee, but I'll check the exact numbers on it. While perfectly predictable earnings would be ideal I'd rather have more Btc than less even with a little variance day to day. If we paid out dividends weekly rather than daily then variance would probably be nearly zero, but with daily payouts that's difficult to achieve. Also I have to pay all expenses from my own shares to keep other investors' shares unencumbered and as a result I rely on those merge mined cryptos to help out. In the interest of consistency one of the Avalons is already running smpps exclusively at a 1% fee and has been doing so for nearly 2 days.

Cheers.

Edit: Real quick number check on the last four daily payouts compared to pure pps at 3% fees looks like this:

+1.16% +7.27% +11.41% -5.97%

I believe we've earned approximately .5Btc more with the current low fee mixed configuration than we would've using pure pps at a 3% fee since we added the second Avalon.

[iCEBREAKER]

Glad to hear we haven't lost anything, but 3% isn't that "stiff" if it covers orphaned blocks.

3% is worth it to me for the peace of mind and easy/predictable accounting.  We got lucky this week, but that will even out eventually.

[creativex]

Glad to hear we haven't lost anything, but 3% isn't that "stiff" if it covers orphaned blocks.

3% is worth it to me for the peace of mind and easy/predictable accounting.  We got lucky this week, but that will even out eventually.

Orphaned blocks are already covered at Bitminter for half that and at polmine for 1/3 of that. While bitparking does not cover orphaned blocks it's fee is zero and the only orphaned block we've experienced while mining there I covered myself out of pocket.

The accounting is easy, just compare actual output to expected pps output less fees, but perhaps I could add a field to the spreadsheet for easy reference. If over time everything evens out, but we pay 1.5 - 3% lower fees then that'd be great imo.

Cheers.

[killerstorm]

Getting real tired of this variance and lost blocks.

This variance-avoidance is killing Bitcoin, this is why we have a handful of large mining pools instead of many small ones.

And, you know, it is way easier to attack a handful of large ones...

Why do you even care about variance? It will all average out over course of month or so.

Do you have some kind of disorder like ADHD? Or do you use mining revenue to pay for your daily expenses?

This is just asinine. You get a bit less today, but a bit more tomorrow. Who cares?

[creativex]

That's a bit harsh, but all else being equal I too tend to favor the largest of the "smallish" pools. These usually have lower fees than the larger pools, variance isn't all that bad, and spreading the love around does likely offer more security for Bitcoin than one or two huge pools can provide. The lengthy bitparking block that began this debate is a statistical anomaly.

Cheers.

Edit: Plus it just plain feels good to land a block for one of the smaller pools:

[iCEBREAKER]

Getting real tired of this variance and lost blocks.

This variance-avoidance is killing Bitcoin, this is why we have a handful of large mining pools instead of many small ones.

And, you know, it is way easier to attack a handful of large ones...

Why do you even care about variance? It will all average out over course of month or so.

Do you have some kind of disorder like ADHD? Or do you use mining revenue to pay for your daily expenses?

This is just asinine. You get a bit less today, but a bit more tomorrow. Who cares?

Wow, look at you.  The white knight of variance, here to stop me from "killing Bitcoin."  Impressive!

[runam0k]

Just curious, why daily divs rather than weekly, fortnightly or even monthly? Isn't it a bit of a pain, especially after the split (possibly more and more shareholders with small holdings)?

[Yogi2013]

Just curious, why daily divs rather than weekly, fortnightly or even monthly? Isn't it a bit of a pain, especially after the split (possibly more and more shareholders with small holdings)?

I would tend to agree daily divs are nice but, it is a lot of extra work. That time could be focused on finding us more asics =).

[rob1313]

I personal would like them to be paid out every 3-4 days.

[creativex]

Nobody was doing daily dividends back when I wrote the contract and I like to have my payments ASAP. It really isn't that much extra work if you stay on top of it and remain organized as the exchange does most of the grunt work. If DRIP is used the difference between daily and weekly dividends could be significant for long term investors.

Cheers.

[dRMergatroid]

Well I'm a newbie and I want to micro-manage the stock I just bought, just like the big shots.
I want hourly dividend notifications, and I want a latte.
Oh, wait, No, I want the returns on my stock to be better than holding BTC.
Thanks bAsic-mining! 

[creativex]

Well I'm a newbie and I want to micro-manage the stock I just bought, just like the big shots.
I want hourly dividend notifications, and I want a latte.
Oh, wait, No, I want the returns on my stock to be better than holding BTC.
Thanks bAsic-mining!

lol

Welcome aboard doc.

[creativex]

Seems like our ASICMiner investment is doing okay...

[Carnth]

Seems like our ASICMiner investment is doing okay...

Just because it's now at 4.5+ BTC for every share that we have? It's doing marginal at best.



 



<personal opinion>BTW, I still think we should send "some love" to HHTT mining pool. They've been getting slightly over 1 block per day.
And hey.. it's fireduck!

After thinking it over: Maybe that is still too much variance since you pay divs daily.

[JimiQ84]

Seems like our ASICMiner investment is doing okay...

Just because it's now at 4.5+ BTC for every share that we have? It's doing marginal at best.

I'd say those 100 shares made more money than anything else in BASIC-MINING

[creativex]

Seems like our ASICMiner investment is doing okay...

Just because it's now at 4.5+ BTC for every share that we have? It's doing marginal at best.

I'd say those 100 shares made more money than anything else in BASIC-MINING

Actually, shareholders have received more value from the first Avalon purchased than they have from our ASICMiner shares(thus far). If my quick math is accurate our first ASIC has already repaid more than 25% of it's purchase price, delivering approximately 17.5BTCs in dividends and contributing over 3BTCs to our growth fund.

While the shares were obviously a great investment and a nice stopgap measure to cover for the tardiness of our hardware, they've "only" contributed a little over 10.5BTCs in dividends and zero to our growth fund and we've had the shares twice as long. Obviously the shares have been appreciating in value and the hardware is not(or will not), but they're both likely to end up being very solid investments for us.

Cheers.

[bobboooiie]

Sorry if I missed it but 2 questions : 1. What is the long term plan with those asicminer shares ?
                                                     2. What price were "we" buying them ?