btt

[AngelSky]

Are we going to see the share price goes down 50% after a good news ?  

[djjacket]

I've changed our official hashrate to 940,000Mh/s to reflect the improved performance we're now getting from our BFL gear. Official announcement & company update on btct.co to follow later today.

Cheers.

Just another Single away from 1TH...  Lets go get one before we get the Ava's!  Nice work!

[creativex]

News:

bASIC-Mining Increases Hashrate

Dear virtual shareholders,

bASIC-Mining has increased it's hash rate by 15,000Mh/s to a total of 940,000Mh/s. This increase is the result of optimized cooling of the company's BFL gear and was accomplished with minimal associated cost. The company's currently active mining equipment is as follows:

(1) BFL Minirig SC

(4) BFL Single SCs

(3) Avalon 3 module rigs

(2) Radeon HD 6770 GPUs

(2) Radeon HD 7770 GPUs

In addition the company has a paid pre-order for (1) Avalon 4 module rig which is expected imminently. bASIC-Mining has a very strong balance sheet with more than 1100BTCs in reserve and daily growth fund contributions of 30% of mining revenue.

Cheers,

CreativeX

https://i.imgur.com/6w0Xn81.jpg

https://i.imgur.com/Hnj9y0n.png

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

[Carnth]

bASIC-Mining Increases Hashrate

https://i.imgur.com/6w0Xn81.jpg

https://i.imgur.com/Hnj9y0n.png

The amount of rig pr0n in this thread has been acceptable. 

[creativex]

I'm pleased that you find my performance to be marginally adequate sir.

[davos]

Quantifying our excellent asset manager:



TAT.VIRTUALMINE prices 1MH/s @ BTC0.002986


This yields approximately BTC44.79 in additional asset value from creativex's optimizations


This is an improvement of 1.62% from the pre-optimized hashrate.

Estimated daily generation prior to optimization: BTC14.436413 (BTC0.00028872 / share)
Estimated daily generation with optimization: BTC14.670571 (BTC0.00029341 / share)


These are just rough estimates for fun to distract me momentarily from monumentally boring work-task.

[KCBitcoin]

News:

bASIC-Mining Increases Hashrate

Dear virtual shareholders,

bASIC-Mining has increased it's hash rate by 15,000Mh/s to a total of 940,000Mh/s. This increase is the result of optimized cooling of the company's BFL gear and was accomplished with minimal associated cost. The company's currently active mining equipment is as follows:

(1) BFL Minirig SC

(4) BFL Single SCs

(3) Avalon 3 module rigs

(2) Radeon HD 6770 GPUs

(2) Radeon HD 7770 GPUs

In addition the company has a paid pre-order for (1) Avalon 4 module rig which is expected imminently. bASIC-Mining has a very strong balance sheet with more than 1100BTCs in reserve and daily growth fund contributions of 30% of mining revenue.

Cheers,

CreativeX

https://i.imgur.com/6w0Xn81.jpg

https://i.imgur.com/Hnj9y0n.png

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

Hey CreativeX,

Thanks for the awesome tinkering and the notification.

But, if your update is to try to recover the glorious share price once BM had, i will have to doubt the effect.

If you take our share price as 0.5 and Cognitive's share price as 0.48 0.52.
According to the weekly dividend paid, I have found both securities are paying around 0.000702 0.00281 dividend per bitcoin invested at the current share price.
What I am trying to say is that, our stock price is not significantly undervalued, comparing to similar companies in the same industry.
The free market has done its job.

What really needs to be done to pull up the share price is to make good use of the 1100+BTC, rather than advertising our huge reserve for months without purchasing anything.
Nowadays the price of ASIC machines have been dropping significantly, a 80GH Avalon can be bought at as low as 90btc. (which was around 130btc two weeks ago)
Therefore our reserve can buy us as much as 1TH/s hashrate. (which doubles what we have right now!)

If you really want the company's value to grow, I think this is the way to go.

[AngelSky]

Hey CreativeX,

Thanks for the awesome tinkering and the notification.

But, if your update is to try to recover the glorious share price once BM had, i will have to doubt the effect.

If you take our share price as 0.5 and Cognitive's share price as 0.48.
According to the weekly dividend paid, I have found both securities are paying around 0.000702 dividend per bitcoin invested at the current share price.
What I am trying to say is that, our stock price is not significantly undervalued, comparing to similar companies in the same industry.
The free market has done its job.

What really needs to be done to pull up the share price is to make good use of the 1100+BTC, rather than advertising our huge reserve for months without purchasing anything.
Nowadays the price of ASIC machines have been dropping significantly, a 80GH Avalon can be bought at as low as 90btc. (which was around 130btc two weeks ago)
Therefore our reserve can buy us as much as 1TH/s hashrate. (which doubles what we have right now!)

If you really want the company's value to grow, I think this is the way to go.

This notification was much better than the previous ones. My opinion is that the glorious share price had to be taken care of days or weeks ago. The share price would have eventually gone down with all the events we went through (SEC fear, ActiveMining, all this mess with the introduction of Coinlab), but maybe not like this (I may be wrong). The focus was (and still is) elsewhere, diluated like the price of the share. I totally agree with KC: good use of the 1100+BTC & going forward in the pursuit of new hardware is the only way to stay alive.

Good luck

[davos]

I personally value mining companies on two points, primarily...

• Dividend growth / difficulty growth
• Management

Over the last 30 days...

• Difficulty has gone up ~75.8%
• bASIC-MINING dividend has gone up 262.25%

The stock performance and dividend growth, all while maintaining a significantly strong cash position... speaks volumes about the management's commitment to shareholder return. I like that creativex didn't just spend the cash on chips or more pre-orders. Investments in in-hand machines only have proven to be an excellent avenue for growth.

[creativex]

Thanks for the awesome tinkering and the notification.

But, if your update is to try to recover the glorious share price once BM had, i will have to doubt the effect.

If you take our share price as 0.5 and Cognitive's share price as 0.48.
According to the weekly dividend paid, I have found both securities are paying around 0.000702 dividend per bitcoin invested at the current share price.
What I am trying to say is that, our stock price is not significantly undervalued, comparing to similar companies in the same industry.
The free market has done its job.

What really needs to be done to pull up the share price is to make good use of the 1100+BTC, rather than advertising our huge reserve for months without purchasing anything.
Nowadays the price of ASIC machines have been dropping significantly, a 80GH Avalon can be bought at as low as 90btc. (which was around 130btc two weeks ago)
Therefore our reserve can buy us as much as 1TH/s hashrate. (which doubles what we have right now!)

If you really want the company's value to grow, I think this is the way to go.

Hi KCBitcoin. I'm afraid you lost me with:

make good use of the 1100+BTC, rather than advertising our huge reserve for months without purchasing anything.

While I believe I understand better than most how quickly things move in the cryptocurrency world, we were mining less than .06BTC/day as recently as June 19(43 days ago). Since that time our hashrate has grown by 937,400Mh/s or 360.53% if you prefer. There have most certainly not been "months without purchasing anything" since our first Avalon arrived and prior to that our only option would have been a BFL pre-order(uh no). Our competitors have not kept pace and this is why we're able to distribute 70% of mining revenue as daily dividends while maintaining a double digit yield and still keep our growth fund growing rapidly. We're also mining our growth fund whereas our competitors are having to borrow to attempt to keep up with the torrid pace of network expansion(cites available upon request).

The purpose of my update today was to officially announce the increase of our hashrate and to update investors who may be unaware of just how well positioned bASIC-MINING is to compete in this rapidly expanding network space.

Also while it's easy to say "buy a bunch of Avalons now!" just as it was easy to say "buy a bunch of overpriced blades!" previously, I actually have to obtain, deploy, power, & cool this gear. I'm also the fella everyone will point to if/when we never make our BTCs back from these hardware investments. I think we all know there are lots of new vendors entering this space in the very near future, KNC, AMC/VMC/Active Mining/(whatever other names they have), Bitfury, etc... all have products announced with Q3/Q4 availability and all with apparently better than currently available efficiency. While Avalon efficiency is fine for now, they'll be the first ASICs shut down as difficulty increases. Rather than investing in technology that may or may not make a positive return, I'd rather invest in efficient technology that's available now(BFL & possibly Bitfury) and be ready with lots of dry powder when there are more options and shorter lead times.

Cheers.

[KCBitcoin]

Thanks for the awesome tinkering and the notification.

But, if your update is to try to recover the glorious share price once BM had, i will have to doubt the effect.

If you take our share price as 0.5 and Cognitive's share price as 0.48.
According to the weekly dividend paid, I have found both securities are paying around 0.000702 dividend per bitcoin invested at the current share price.
What I am trying to say is that, our stock price is not significantly undervalued, comparing to similar companies in the same industry.
The free market has done its job.

What really needs to be done to pull up the share price is to make good use of the 1100+BTC, rather than advertising our huge reserve for months without purchasing anything.
Nowadays the price of ASIC machines have been dropping significantly, a 80GH Avalon can be bought at as low as 90btc. (which was around 130btc two weeks ago)
Therefore our reserve can buy us as much as 1TH/s hashrate. (which doubles what we have right now!)

If you really want the company's value to grow, I think this is the way to go.

Hi KCBitcoin. I'm afraid you lost me with:

make good use of the 1100+BTC, rather than advertising our huge reserve for months without purchasing anything.

While I believe I understand better than most how quickly things move in the cryptocurrency world, we were mining less than .06BTC/day as recently as June 19(43 days ago). Since that time our hashrate has grown by 937,400Mh/s or 360.53% if you prefer. There have most certainly not been "months without purchasing anything" since our first Avalon arrived and prior to that our only option would have been a BFL pre-order(uh no). Our competitors have not kept pace and this is why we're able to distribute 70% of mining revenue as daily dividends while maintaining a double digit yield and still keep our growth fund growing rapidly. We're also mining our growth fund whereas our competitors are having to borrow to attempt to keep up with the torrid pace of network expansion(cites available upon request).

The purpose of my update today was to officially announce the increase of our hashrate and to update investors who may be unaware of just how well positioned bASIC-MINING is to compete in this rapidly expanding network space.

Also while it's easy to say "buy a bunch of Avalons now!" just as it was easy to say "buy a bunch of overpriced blades!" previously, I actually have to obtain, deploy, power, & cool this gear. I'm also the fella everyone will point to if/when we never make our BTCs back from these hardware investments. I think we all know there are lots of new vendors entering this space in the very near future, KNC, AMC/VMC/Active Mining/(whatever other names they have), Bitfury, etc... all have products announced with Q3/Q4 availability and all with apparently better than currently available efficiency. While Avalon efficiency is fine for now, they'll be the first ASICs shut down as difficulty increases. Rather than investing in technology that may or may not make a positive return, I'd rather invest in efficient technology that's available now(BFL & possibly Bitfury) and be ready with lots of dry powder when there are more options and shorter lead times.

Cheers.

Yea, what I was trying to say is, rather than just stating how much reserve we have, its better to give out future plans with these reserves.
Like you said, pre-order better-efficiency hardware or more cost-effective machines.
Putting these up will give investors a better projected value of the company than cash.

You can even throw out a couple of pre-order info and let the investors help u decide or vote.

[creativex]

Thanks for the awesome tinkering and the notification.

But, if your update is to try to recover the glorious share price once BM had, i will have to doubt the effect.

If you take our share price as 0.5 and Cognitive's share price as 0.48.
According to the weekly dividend paid, I have found both securities are paying around 0.000702 dividend per bitcoin invested at the current share price.
What I am trying to say is that, our stock price is not significantly undervalued, comparing to similar companies in the same industry.
The free market has done its job.

What really needs to be done to pull up the share price is to make good use of the 1100+BTC, rather than advertising our huge reserve for months without purchasing anything.
Nowadays the price of ASIC machines have been dropping significantly, a 80GH Avalon can be bought at as low as 90btc. (which was around 130btc two weeks ago)
Therefore our reserve can buy us as much as 1TH/s hashrate. (which doubles what we have right now!)

If you really want the company's value to grow, I think this is the way to go.

Hi KCBitcoin. I'm afraid you lost me with:

make good use of the 1100+BTC, rather than advertising our huge reserve for months without purchasing anything.

While I believe I understand better than most how quickly things move in the cryptocurrency world, we were mining less than .06BTC/day as recently as June 19(43 days ago). Since that time our hashrate has grown by 937,400Mh/s or 360.53% if you prefer. There have most certainly not been "months without purchasing anything" since our first Avalon arrived and prior to that our only option would have been a BFL pre-order(uh no). Our competitors have not kept pace and this is why we're able to distribute 70% of mining revenue as daily dividends while maintaining a double digit yield and still keep our growth fund growing rapidly. We're also mining our growth fund whereas our competitors are having to borrow to attempt to keep up with the torrid pace of network expansion(cites available upon request).

The purpose of my update today was to officially announce the increase of our hashrate and to update investors who may be unaware of just how well positioned bASIC-MINING is to compete in this rapidly expanding network space.

Also while it's easy to say "buy a bunch of Avalons now!" just as it was easy to say "buy a bunch of overpriced blades!" previously, I actually have to obtain, deploy, power, & cool this gear. I'm also the fella everyone will point to if/when we never make our BTCs back from these hardware investments. I think we all know there are lots of new vendors entering this space in the very near future, KNC, AMC/VMC/Active Mining/(whatever other names they have), Bitfury, etc... all have products announced with Q3/Q4 availability and all with apparently better than currently available efficiency. While Avalon efficiency is fine for now, they'll be the first ASICs shut down as difficulty increases. Rather than investing in technology that may or may not make a positive return, I'd rather invest in efficient technology that's available now(BFL & possibly Bitfury) and be ready with lots of dry powder when there are more options and shorter lead times.

Cheers.

Yea, what I was trying to say is, rather than just stating how much reserve we have, its better to give out future plans with these reserves.
Like you said, pre-order better-efficiency hardware or more cost-effective machines.
Putting these up will give investors a better projected value of the company than cash.

You can even throw out a couple of pre-order info and let the investors help u decide or vote.

I'm not usually prone to quoting/citing myself, but...

https://bitcointalk.org/index.php?topic=130982.msg2846982#msg2846982

I'm still formulating a plan for these reserves. There are a multitude of options coming and the field changes daily. At this particular moment I'd like to say we're going to order 10+ 400Gh/s Bitfury kits, but I don't know because they're not available yet & haven't been reviewed yet. I have the same information everyone else has.

Cheers.

[KCBitcoin]

I'm not usually prone to quoting/citing myself, but...

https://bitcointalk.org/index.php?topic=130982.msg2846982#msg2846982

I'm still formulating a plan for these reserves. There are a multitude of options coming and the field changes daily. At this particular moment I'd like to say we're going to order 10+ 400Gh/s Bitfury kits, but I don't know because they're not available yet & haven't been reviewed yet. I have the same information everyone else has.

Cheers.

Thanks for updating us with your future plans. Now this is the exciting news, even if it is subject to change.
We are really looking forward to it!

[lano1106]

Hi,

I have question regarding BASIC-MINING mining operation. Is the company is using a pool ? if so, can you tell which one?

If you don't, do you connect your mining rigs directly on the bitcoin network?

thank you,

[creativex]

Hi,

I have question regarding BASIC-MINING mining operation. Is the company is using a pool ? if so, can you tell which one?

If you don't, do you connect your mining rigs directly on the bitcoin network?

thank you,

Hi lano1106. We're currently connected to Polmine.pl(smpps), Bitminter.com(pplns), and bitparking(dgm). I update this and other information daily here:

https://docs.google.com/spreadsheet/ccc?key=0ArTS7AD--9SWdDNfb0lRNElqS1k1eGRoWEw2TGM4NlE#gid=0

Cheers.

[davos]

TheGenesisBlock:Bitfury 400 GH/s Bitcoin Mining Rig Hits US Shores

[vaderiffic]

I'm still formulating a plan for these reserves. There are a multitude of options coming and the field changes daily. At this particular moment I'd like to say we're going to order 10+ 400Gh/s Bitfury kits, but I don't know because they're not available yet & haven't been reviewed yet. I have the same information everyone else has.

Cheers.

I pretty much creamed myself imaging what 10x 400Gh/s would feel like.

[creativex]

I'm still formulating a plan for these reserves. There are a multitude of options coming and the field changes daily. At this particular moment I'd like to say we're going to order 10+ 400Gh/s Bitfury kits, but I don't know because they're not available yet & haven't been reviewed yet. I have the same information everyone else has.

Cheers.

I pretty much creamed myself imaging what 10x 400Gh/s would feel like.

TMI BUDDY TMI

...but if reviews are favorable from recipients of Bitfury gear scheduled for August delivery then we could very well go in that direction.

[dexX7]

I'm still formulating a plan for these reserves. There are a multitude of options coming and the field changes daily. At this particular moment I'd like to say we're going to order 10+ 400Gh/s Bitfury kits, but I don't know because they're not available yet & haven't been reviewed yet. I have the same information everyone else has.

Cheers.

How about a motion?

[davos]

I'm still formulating a plan for these reserves. There are a multitude of options coming and the field changes daily. At this particular moment I'd like to say we're going to order 10+ 400Gh/s Bitfury kits, but I don't know because they're not available yet & haven't been reviewed yet. I have the same information everyone else has.

Cheers.

I pretty much creamed myself imaging what 10x 400Gh/s would feel like.

TMI BUDDY TMI

...but if reviews are favorable from recipients of Bitfury gear scheduled for August delivery then we could very well go in that direction.

Do I take that to mean you'd wait for the October deliveries? How do the various delivery periods/costs fit into your difficulty projections?