btt

[xhomerx10]

Hey 

 I just found a fairly good profitability calculator online -> http://mining.thegenesisblock.com/ <-
This one allows you to configure it and it is very configurable.  It wants the monthly percentage change in difficulty but the box is automatically populated with 76%... I think it should be somewhere between 100-110 but you can change it.  The online calculation is using a 30 day period for calculating reward without a difficulty change midway (or less) so it uses too low a difficulty for 15-20 days per calculation for some periods and it is giving a higher return than reality dictates.  I believe it is about 25% on the high side.  Also it asks for a predicted rate of rise in Bitcoin value - leave it at 0 and divide your cumulative return by the current Bitcoin value.  The value will then be adjusted for power costs and since power rates aren't likely to change considerably over the next few months it will give an accurate depiction of how many coins you can produce over the life of your miner.  I think it's great to be able to visualize where the cumulative return begins to decrease  


 Take care

[JimiQ84]

US BitFury is just days away from shipping, nice. So, I guess creativex is already counting bitcoins in his hands and getting ready to "push the button" 

Hi guys - we are really starting to roll here.  We had to make a few adjustments when we actually got our first units in hand in order to deploy a lot of rigs and test them quickly.  As a result of some fast action and capable scripting from a member of the team, we have automated a number of the steps required to evaluate boards quickly and send you more reliable hashpower.

First I'd like to describe some of the behaviors we see on these boards:
-we are calling some boards "end of line" boards.  If you get one of these, it will be labeled "EOL".  For this kind of board, there is a chip in the chain that does not pass control signal.  It has to live as the last card of your rig, but it will hash just fine albeit at a lower total hashrate.  This is the most common problem we are seeing.

-other boards have noise problems that will cause problems for themselves and their neighbors.  We pull these cards out completely.

In order to build full 400G rigs quickly and not block the shipping queue, we will be shipping two 8-card rigs with a minimum spec of 200G each. 

We are also making it easier for users to get their rig on their network.  When you first fire up your rig it will have the IP address: 192.168.1.249.  You can use it that way or if you need to change IP, you can ssh into the rig or direct connect your monitor & keyboard.  As soon as you've logged in (user: pi  pass: raspberry), you will be prompted to change the IP address at that time.  The rPi will reboot after you make the change, and you will find the rig at the new IP address from that point forward.

We've only received the first two shipments from the fab, which is about 55 M-boards and 500 H-boards.  Some number of these H-boards will be bad (not sure what the % is yet, but its relatively low).  We are expecting a double delivery tomorrow morning, and will begin to evaluate those immediately.  Meanwhile, we will ship as many orders as we can fill with the stuff that is ready to go - I'm shooting for 30 orders or so.

More tomorrow.

[xuanxuan3317]

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.

[cix888]

Hi creativex,

First I just wanted to say thanks for your hard work!

I have invested more than a year ago if I recall correctly for less than 1k USD and today I have a significant return on investment and collected a significant amount of dividend...

I'm a long term Investor nevertheless I would like to know what is your plan till the end of the year?

We have seen difficulty going up dramatically and our hashing power hasn't move in the last month. So I'm a little worry of the sell off we have seen in the stock... I have every confident it will turn around so I'm buying back lots of the stocks I sold above 0.7!

I believe a few things could help in the short term:

1) Doing a stock split again to get small investors interested and being able to compete with stocks like Labcoin, Activemining etc. (it's cosmetic but people will be more likely to buy a few shares if it's "lower", it's purely psychological)

2) reassure Investors that Basic mining has a plan for the end of the year and for next year (especially when difficulty will stabilize and all ASIC or most are out)

3) Sell our "barely profitable" ASIC mining gear before it rocks bottom!  

4) try to increase our hashing power with difficulty (I know this one is hard but we need to increase at least 10% when the difficulty goes up that much otherwise dividend get diluted and impatient investors start selling like there is no tmw)

5) share buy-backs to increase the value of shares still available and reducing supply

Again I know you are working around the clock to make this venture profitable for everyone and I have every confident that you will be successful in the long run

regards,

CAA

[guitarplinker]

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.

[TMAN]

Wait it out guys.

our fearless leader will do us all well in the coming months, we will be hashing on a much larger scale when he can buy in hand kit. The short term price is crashing - who cares? if you don't need to sell don't sell - wait it out & it will come good.

for god sake look at the alternatives, sticking funds in BFL gear, are they mad? or one of the new unproven vendors?

this stock will tank further, but it means we can buy more shares. guys don't forget this company is liquid and will be able to buy a lot of tin when it is available..

[creativex]

Hi creativex,

First I just wanted to say thanks for your hard work!

I have invested more than a year ago if I recall correctly for less than 1k USD and today I have a significant return on investment and collected a significant amount of dividend...

I'm a long term Investor nevertheless I would like to know what is your plan till the end of the year?

We have seen difficulty going up dramatically and our hashing power hasn't move in the last month. So I'm a little worry of the sell off we have seen in the stock... I have every confident it will turn around so I'm buying back lots of the stocks I sold above 0.7!

I believe a few things could help in the short term:

1) Doing a stock split again to get small investors interested and being able to compete with stocks like Labcoin, Activemining etc. (it's cosmetic but people will be more likely to buy a few shares if it's "lower", it's purely psychological)

2) reassure Investors that Basic mining has a plan for the end of the year and for next year (especially when difficulty will stabilize and all ASIC or most are out)

3) Sell our "barely profitable" ASIC mining gear before it rocks bottom!  

4) try to increase our hashing power with difficulty (I know this one is hard but we need to increase at least 10% when the difficulty goes up that much otherwise dividend get diluted and impatient investors start selling like there is no tmw)

5) share buy-backs to increase the value of shares still available and reducing supply

Again I know you are working around the clock to make this venture profitable for everyone and I have every confident that you will be successful in the long run

regards,

CAA

Hi cix888. Thank you for trusting me with your hard earned funds.

My plan till the end of the year is to allow the current hardware price war to continue to play out and then to purchase gen2 ASIC mining gear at favorable rates. There are several new vendors coming on the scene in Q4 with 28nm designs and this is driving hardware prices down in anticipation.

Actually our hashing power has increased by 495Gh/s(+52.66%) in the last 30 days. It's just that this increase has done nothing to support the share price due to market perceptions. Please see btct.co news releases for details.

1) I don't see liquidity as a problem currently.

2) I've lain out my plan going forward numerous times, but perhaps a more concise news release could help to reassure those that do not follow us closely.

3) We don't have any barely profitable ASIC gear. Our least effective ASIC gear is a 3 module b2 Avalon that remains profitable for us.

4) This would doom us long term. If we spent large portions of our current resources on currently available hardware it would necessarily be hardware from Avalon, BFL, or ASICMiner. None if this hardware is expected to remain profitable long term. This is why I've suspended such purchases.

5) Share buy backs have been a topic of discussing over the past month+ and something I'm considering.

Thank you, I am reviewing options daily, there just aren't many available at this time as we're stuck between ASIC hardware cycles.

Cheers.  

[JimiQ84]

when we have some time (4 months) until things cool off... will you please show us a photo of mining rig? :-)

[creativex]

when we have some time (4 months) until things cool off... will you please show us a photo of mining rig? :-)

Hi JimiQ84. You mean you'd like pictures of gear we haven't acquired yet or you'd like more pictures of gear we're already utilizing?

Cheers.

[JimiQ84]

when we have some time (4 months) until things cool off... will you please show us a photo of mining rig? :-)

Hi JimiQ84. You mean you'd like pictures of gear we haven't acquired yet or you'd like more pictures of gear we're already utilizing?

Cheers.

If there were some photos of our current devices, then I missed them. Would you point me to those pictures?

[creativex]

when we have some time (4 months) until things cool off... will you please show us a photo of mining rig? :-)

Hi JimiQ84. You mean you'd like pictures of gear we haven't acquired yet or you'd like more pictures of gear we're already utilizing?

Cheers.

If there were some photos of our current devices, then I missed them. Would you point me to those pictures?

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

If you go to the news tab there are links. I tend to post the same releases on this thread and those images and others should still be available here, though it's a lot of pages to go through. I will have to consolidate photos and get them uploaded to our website.

Cheers.

[JimiQ84]

when we have some time (4 months) until things cool off... will you please show us a photo of mining rig? :-)

Hi JimiQ84. You mean you'd like pictures of gear we haven't acquired yet or you'd like more pictures of gear we're already utilizing?

Cheers.

If there were some photos of our current devices, then I missed them. Would you point me to those pictures?

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

If you go to the news tab there are links. I tend to post the same releases on this thread and those images and others should still be available here, though it's a lot of pages to go through. I will have to consolidate photos and get them uploaded to our website.

Cheers.

Thanks! Yes, uploading pictures to webpage is definitely good idea :-)

[creativex]

Agreed. It's just been a ways down on the priority list. Demzie did a masterful job with the layout though and I would like to get more content on there.

Cheers.

[AbendWind]

Hi, creativex!
I asked you a week ago about share prices, and you answered me, that the situation with decreasing of share prices was market psychology.
Don`t you think, that it`s a tragedy for basic-mining?
Two weeks ago the price was 0.30, now the price is 0.13. I don`t think, it`s  a market psychology. It is just distrust. I want to say, that investors don`t trust.
As for me, I am a fan of you and your business strategy, I bought hundreds of shares, when the price was 0.30, i bought hundreds of shares when the price was 0.25, then 0.15.
And, maybe, it is really necessary to buy new equipment to increase dividens. You have to brake this market psychology.
Now the price is 0.132600, and I would like to buy 100-200 shares, but I will not do that. And I know investors, they sell shares, because they think, that basic-mining cannot mine more.
It`s just my opinion.

[xhomerx10]

Hi, creativex!
I asked you a week ago about share prices, and you answered me, that the situation with decreasing of share prices was market psychology.
Don`t you think, that it`s a tragedy for basic-mining?
Two weeks ago the price was 0.30, now the price is 0.13. I don`t think, it`s  a market psychology. It is just distrust. I want to say, that investors don`t trust.
As for me, I am a fan of you and your business strategy, I bought hundreds of shares, when the price was 0.30, i bought hundreds of shares when the price was 0.25, then 0.15.
And, maybe, it is really necessary to buy new equipment to increase dividens. You have to brake this market psychology.
Now the price is 0.132600, and I would like to buy 100-200 shares, but I will not do that. And I know investors, they sell shares, because they think, that basic-mining cannot mine more.
It`s just my opinion.

 You, my friend are in a wonderful position for the astounding rebound bASIC-mining will make when Creativex's plan comes together.  He has the knowledge and patience that most of you lack.  The Bitcoin mining landscape is changing quickly and if he spends the coins now, we will not see a return.  He has made an intelligent and informed decision.  Please stop badgering him with your in-securities! (pardon the pun)

Take care

[creativex]

Hi, creativex!
I asked you a week ago about share prices, and you answered me, that the situation with decreasing of share prices was market psychology.
Don`t you think, that it`s a tragedy for basic-mining?
Two weeks ago the price was 0.30, now the price is 0.13. I don`t think, it`s  a market psychology. It is just distrust. I want to say, that investors don`t trust.
As for me, I am a fan of you and your business strategy, I bought hundreds of shares, when the price was 0.30, i bought hundreds of shares when the price was 0.25, then 0.15.
And, maybe, it is really necessary to buy new equipment to increase dividens. You have to brake this market psychology.
Now the price is 0.132600, and I would like to buy 100-200 shares, but I will not do that. And I know investors, they sell shares, because they think, that basic-mining cannot mine more.
It`s just my opinion.

Hi AbendWind. As I am bASIC-Mining's largest shareholder, nobody has greater paper losses than I. LC & ActM(and formerly BTCGarden) are being assigned a premium by speculators due to the perceived value in having access to cheap hashes in the future. We've had several posters confirm my view on this in this very thread. This is plainly the case as these companies together have a current combined hashrate of only a few hundred Gh/s but have been assigned massive market caps. This market cap is being pumped in part by taking the same away from companies that have current hashrates(ASICMiner, bASIC-Mining, and others). I believe our current hashrate at 1,435,000Mh/s is higher than the other five mining related Stocks and Revenue Shares combined.  

I have bought new equipment, the last being two weeks ago. The market did not and does not care, the purchases merely increase our yield. Purchasing more of the same equipment would put us at risk of never seeing a return on that equipment. It's conceivable that when we order and receive gen2 hardware the market may not care about that either, but I cannot worry about that which is beyond my control.

Cheers.

[Carnth]

when we have some time (4 months) until things cool off... will you please show us a photo of mining rig? :-)

Hi JimiQ84. You mean you'd like pictures of gear we haven't acquired yet or you'd like more pictures of gear we're already utilizing?

Cheers.

If there were some photos of our current devices, then I missed them. Would you point me to those pictures?

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

If you go to the news tab there are links. I tend to post the same releases on this thread and those images and others should still be available here, though it's a lot of pages to go through. I will have to consolidate photos and get them uploaded to our website.

Cheers.

You can't deny a request for rig pr0n creativex.   

[creativex]

**ANNOUNCEMENT**

As bitfury EU has delivered and bitfury US is now sending out shipping notices for August/September delivery, this product is no longer vaporware. If there are no reasonable objections I'm going to place an order with bitfury US for October delivery at this time.

Cheers.

[creativex]

when we have some time (4 months) until things cool off... will you please show us a photo of mining rig? :-)

Hi JimiQ84. You mean you'd like pictures of gear we haven't acquired yet or you'd like more pictures of gear we're already utilizing?

Cheers.

If there were some photos of our current devices, then I missed them. Would you point me to those pictures?

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

If you go to the news tab there are links. I tend to post the same releases on this thread and those images and others should still be available here, though it's a lot of pages to go through. I will have to consolidate photos and get them uploaded to our website.

Cheers.

You can't deny a request for rig pr0n creativex.   

Who doesn't love rig pr0n?

[Carnth]

**ANNOUNCEMENT**

As bitfury EU has delivered and bitfury US is now sending out shipping notices for August/September delivery, this product is no longer vaporware. If there are no reasonable objections I'm going to place an order with bitfury US for October delivery at this time.

Cheers.

Good luck!