btt

[lunarboy]

I've obtained 100 shares of ASICMiner-PT at an average cost of 2.47BTC/share and will distribute 100% of the dividends received to bASIC-MINING shareholders upon receipt. Dividends from the PT will be divided into 7 portions, added to our own mining revenue, and distributed daily beginning this Thursday(June 6).

Thanks to all bASIC-MINING shareholders for taking part in this process.

i believe there are no plans yet to sell them, probably at such time as bASIC-MINING needs funds to purchase more ascis.

[creativex]

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 ?

Hi bobboooiie. The shares were obtained at an average price of 2.478182406.

The long term plan for the shares is rather open ended. The motion that allowed for their purchase was worded simply:

Shall bASIC-MINING invest idle capital in shares of ASICMiner-PT and distribute 100% of the resulting dividends to shareholders?

While we could liquidate them now for a significant gain(+80%), without a clear path to invest in reasonably priced hardware, it'd merely add to our cash reserves while lowering our daily dividend.

Cheers.

[runam0k]

Incredible performance from the AM shares.

So what is the next step for BM - are we waiting for ASICs of some description (sorry, tl;dr and trying to get up to speed).

[creativex]

So what is the next step for BM - are we waiting for ASICs of some description (sorry, tl;dr and trying to get up to speed).

Hi runam0k. We have our paid for 4 module batch 3 in the pipeline. I understand that batch 2 is approximately 90% shipped, so it shouldn't be too much longer. I've also been shopping around for an additional 2nd hand rig, but haven't had much luck finding another with a price tag that makes sense.

Cheers.

[creativex]

I've had more time to fine tune the Avalons this evening. It's gone fairly well:





Cheers.

[JimiQ84]

So what is the next step for BM - are we waiting for ASICs of some description (sorry, tl;dr and trying to get up to speed).

Hi runam0k. We have our paid for 4 module batch 3 in the pipeline. I understand that batch 2 is approximately 90% shipped, so it shouldn't be too much longer. I've also been shopping around for an additional 2nd hand rig, but haven't had much luck finding another with a price tag that makes sense.

Cheers.

What about KNC Mercury? Too much risk?

[creativex]

So what is the next step for BM - are we waiting for ASICs of some description (sorry, tl;dr and trying to get up to speed).

Hi runam0k. We have our paid for 4 module batch 3 in the pipeline. I understand that batch 2 is approximately 90% shipped, so it shouldn't be too much longer. I've also been shopping around for an additional 2nd hand rig, but haven't had much luck finding another with a price tag that makes sense.

Cheers.

What about KNC Mercury? Too much risk?

Hi JimiQ84. Last I'd heard they were aiming for October delivery correct? The mercury is certainly attractively priced. I need to brush up on knc's progress.

Cheers.

[creativex]

Luck at bitparking has been so bad the past few days that it could only improve. Today's divvy will contain payment for three bitparking blocks.

Cheers.

[mokahless]

So what is the next step for BM - are we waiting for ASICs of some description (sorry, tl;dr and trying to get up to speed).

Hi runam0k. We have our paid for 4 module batch 3 in the pipeline. I understand that batch 2 is approximately 90% shipped, so it shouldn't be too much longer. I've also been shopping around for an additional 2nd hand rig, but haven't had much luck finding another with a price tag that makes sense.

Cheers.

What about KNC Mercury? Too much risk?

Hi JimiQ84. Last I'd heard they were aiming for October delivery correct? The mercury is certainly attractively priced. I need to brush up on knc's progress.

Cheers.

This is the last I heard too for the Mercury. I have just starting looking at them a bit more seriously, myself. Mainly because the Mercury finally brings them down to a more acceptable risk for me. Everything seems in order (pending the email I sent to Kennemar & Cole) but based on everything I have read, I somehow doubt they will be able to deliver the claimed power efficiency with ORSoC. That said, everything I am making my judgements on is hearsay. There is potential for another BFL fiasco.

For the sake of diversification, what is your reasoning for not ordering a BFL and what would be your reasoning be for not ordering KNC, assuming you decide not to? The same goes for the Open source Avalon designs and the other manufacturers. Essentially, as a shareholder, I am interested in what you are actively looking at and what you are rejecting, considering and moving forward with. I was really glad to see your acquisition of Avalon miners followed by an appropriate increase in market share price and dividends. What I thought would turn into a stale investment after the bASIC fiasco has started to become a valuable asset.

[creativex]

This is the last I heard too for the Mercury. I have just starting looking at them a bit more seriously, myself. Mainly because the Mercury finally brings them down to a more acceptable risk for me. Everything seems in order (pending the email I sent to Kennemar & Cole) but based on everything I have read, I somehow doubt they will be able to deliver the claimed power efficiency with ORSoC. That said, everything I am making my judgements on is hearsay. There is potential for another BFL fiasco.

For the sake of diversification, what is your reasoning for not ordering a BFL and what would be your reasoning be for not ordering KNC, assuming you decide not to? The same goes for the Open source Avalon designs and the other manufacturers. Essentially, as a shareholder, I am interested in what you are actively looking at and what you are rejecting, considering and moving forward with. I was really glad to see your acquisition of Avalon miners followed by an appropriate increase in market share price and dividends. What I thought would turn into a stale investment after the bASIC fiasco has started to become a valuable asset.

Hi mokahless. Please keep me posted on your ongoing research into knc's progress.

My cautious stance with regard to pre-orders stems from the fact that all of the companies developing ASIC gear are quite small. When things go wrong with these tiny companies, they can go very wrong...as in the case of BFL and BTCFPGA. While it was rather painful for bASIC-MINING shareholders(myself included) to watch Avalon batch 1 units being deployed and AM completing their chip development while our own bASIC hardware pre-order was delayed twice and then cancelled, at least the network hashrate wasn't increasing exponentially at that time. Such an occurrence in the rapidly expanding network environment we're now facing would be far more costly. The company's batch 2 & 3 Avalon orders were placed just as network growth was beginning to accelerate and immediately following the successful delivery of two batch 1 Avalon units, confirming Avalon's ability to deliver. I will continue to seek reasonably priced in hand hardware as it makes more sense to my mind to pay a small to moderate premium for such hardware and eliminate the tremendous risks involved with large scale pre-orders for products that are still in development and may well be delayed or cancelled entirely.

Cheers.

[creativex]

Now that I've had more time to assess the performance of the Avalons and get a sense of their individual capabilities, I've been able to draw some conclusions about their performance. The Avalon that's running a balanced configuration(Av1) on bitparking, bitminter, and slush seems to be slightly more capable than the second unit, though the difference is small(1-2Mhz). Av2 seems to restart more often(though not once with latest firmware TYVM ckolivas) and run at higher temps overall. HW errors as a percent of output climb over time as the unit heats up. In an attempt to improve the situation I opened the unit up to have a look.



As you can see there's an airflow guide on one side opposite the 750w Enermax PSU. I suspect that by moving the PSU outside the case and adding an airflow guide to that side as well that cooling efficiency can be improved. Anyone have any thoughts?

Cheers.

[funktion]

As you can see there's an airflow guide on one side opposite the 750w Enermax PSU. I suspect that by moving the PSU outside the case and adding an airflow guide to that side as well that cooling efficiency can be improved. Anyone have any thoughts?

Cheers.

I believe moving the PSU out of the case is a great idea. It is a source of additional heat, it's blocking airflow, and it is an easy fix to move it out of the case (I think).

[creativex]

I believe moving the PSU out of the case is a great idea. It is a source of additional heat, it's blocking airflow, and it is an easy fix to move it out of the case (I think).

Hi funktion. Yeah that's kinda what I was thinking...easy. I think I'll add some complications to the easy sauce though and short an additional PSU and run them in tandem with each shouldering half the load. Might as well give it a shot while I have the cover off. Something similar will be necessary anyway when our batch 3 arrives as it has 4 modules and no included PSU.

Cheers.

[creativex]

Done! Both rigs seem to be running well and a couple degrees cooler.

[creativex]

Now that I have a handle on a pool configuration that seems to be providing consistent daily payouts, I'd like to work on establishing a consistent time of the day for those payouts. To meet that goal I'd like to create a confirmation buffer of sorts. That is, I'd like to be able to schedule payouts ahead of time based on rewards that are occasionally and in part at least, still confirming. Both Polmine and Bitminter offer immediate payout/orphan protection and as these two pools account for roughly 83% of our hashes at present there's not a huge risk of orphaned blocks drastically affecting our payouts anyway.

I'll be travelling most of the weekend so I'm going to payout today's dividends and queue up an amount equal to PPS for Sunday's dividend. I will calculate Sunday's actual mining revenue on Monday and add/subtract the difference vs PPS output to Monday's daily payout.

Cheers.

[creativex]

Seems we're being rewarded for our patience at bitparking.

[creativex]

**Important News Posted**

Third Avalon Obtained.
Dear virtual shareholders,

bASIC-MINING is pleased to announce the further expansion  of it's ASIC mining hardware with the acquisition of a third 3 module Avalon unit. The newly obtained batch 1 unit is now mining and will begin adding to mining revenue on Tuesday July 9.

Cheers,

CreativeX

https://btct.co/security/BASIC-MINING

[JimiQ84]

**Important News Posted**

Third Avalon Obtained.
Dear virtual shareholders,

bASIC-MINING is pleased to announce the further expansion  of it's ASIC mining hardware with the acquisition of a third 3 module Avalon unit. The newly obtained batch 1 unit is now mining and will begin adding to mining revenue on Tuesday July 9.

Cheers,

CreativeX

https://btct.co/security/BASIC-MINING

great news! :-) thanks

[miTgiB]

**Important News Posted**

Third Avalon Obtained.
Dear virtual shareholders,

bASIC-MINING is pleased to announce the further expansion  of it's ASIC mining hardware with the acquisition of a third 3 module Avalon unit. The newly obtained batch 1 unit is now mining and will begin adding to mining revenue on Tuesday July 9.

Cheers,

CreativeX

https://btct.co/security/BASIC-MINING

Awesome find!  The GPU that are offline, time to sell?

[gimme_bottles]

some nice buying going on