creativex (OP)
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September 13, 2013, 09:28:40 PM |
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Right, + bitfury for October, possibly avalon G2 for October, hashfast, cointerra, etc...
This has the potential to get ugly in Q4. Rather than risk capital on gear that could be rendered unprofitable within just a few months, we should instead focus our efforts on obtaining hardware that will be hashing long after G1 products are kicked off the blockchain. 25.5 sounds reasonable, but it's .307/Gh of G1 equipment. Bitfury for October delivery is .156/Gh right this second and has an efficiency that will see it hashing even after knc gear is unplugged.
Though the avalon for 25.5 would be hashing for us sooner than the same BTC applied to an additional bitfury order, it still doesn't make sense as our risk of never seeing a positive ROI is far higher with the avalon purchase. Just a few weeks ago this equation would've been completely different.
Cheers.
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AngelSky
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September 14, 2013, 03:38:47 AM |
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You sold your LC shares @ what price ?
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creativex (OP)
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September 14, 2013, 03:01:43 PM Last edit: September 14, 2013, 05:08:25 PM by creativex |
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Hi Angelsky. I liquidated our labcoin position @ .002514. Management appears to have gone from overly optimistic to outright deceitful. No reason to hold if you can't trust their reports. We have a loss of roughly 4BTC precisely 3.97125 on the position. I apologize to shareholders, to my mind the potential rewards outweighed the risks until it became clear that labcoin management was not acting in good faith.
Cheers.
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AngelSky
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September 14, 2013, 05:30:10 PM |
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Hi Angelsky. I liquidated our labcoin position @ .002514. Management appears to have gone from overly optimistic to outright deceitful. No reason to hold if you can't trust their reports. We have a loss of roughly 4BTC precisely 3.97125 on the position. I apologize to shareholders, to my mind the potential rewards outweighed the risks until it became clear that labcoin management was not acting in good faith.
Cheers.
Good decision. Thanks for your transparency. 0.002514 was not that bad after all
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BitCoiner2012
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September 15, 2013, 04:59:17 PM |
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What was the IPO price of BASIC? Considering any and all splits?
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BTC Long.
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guitarplinker
Legendary
Offline
Activity: 1694
Merit: 1024
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September 15, 2013, 06:22:35 PM |
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Well it looks like Labcoin might be mining: http://blockchain.info/address/1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16CSomeone posted this address in the main thread and that's about the output that 2TH/s should be doing. Not sure what the chances are that it is Labcoin though, because someone said its out of Chicago, and Labcoin isn't located there.
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AngelSky
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September 15, 2013, 07:31:34 PM |
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What was the IPO price of BASIC? Considering any and all splits?
0.33 before the 1:10 split. It means 0.033 now.
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creativex (OP)
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September 15, 2013, 07:32:08 PM |
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Thanks JimiQ84, I have kept up on burnin's progress and even sent proposals to him. He did not respond. CryptX is not the least bit trustworthy IMO, an opinion I've formulated based upon his dealings with his own shareholders. There are serious questions as to whether burnin will be able to produce this product in a timely fashion and now he's outsourced sales to a questionable vendor. We're better off dealing with bitfury US. Cheers.
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creativex (OP)
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September 15, 2013, 07:38:22 PM |
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Well it looks like Labcoin might be mining: http://blockchain.info/address/1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16CSomeone posted this address in the main thread and that's about the output that 2TH/s should be doing. Not sure what the chances are that it is Labcoin though, because someone said its out of Chicago, and Labcoin isn't located there. Hi guitarplinker. If labcoin or TheSwede75 didn't post the address or confirm that it's theirs then there's no reason to invest based upon the submitted address. Labcoin is playing games and stalling for a reason. Their credibility is shot, their website still has not been updated beyond 180nm chip talk. The last posts I read were from labcoin and he was talking about holding on for results until Halloween. There's no reason to invest until they regain some credibility. Cheers.
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guitarplinker
Legendary
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Activity: 1694
Merit: 1024
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September 15, 2013, 08:36:53 PM |
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Well it looks like Labcoin might be mining: http://blockchain.info/address/1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16CSomeone posted this address in the main thread and that's about the output that 2TH/s should be doing. Not sure what the chances are that it is Labcoin though, because someone said its out of Chicago, and Labcoin isn't located there. Hi guitarplinker. If labcoin or TheSwede75 didn't post the address or confirm that it's theirs then there's no reason to invest based upon the submitted address. Labcoin is playing games and stalling for a reason. Their credibility is shot, their website still has not been updated beyond 180nm chip talk. The last posts I read were from labcoin and he was talking about holding on for results until Halloween. There's no reason to invest until they regain some credibility. Cheers. That's all very true. Although that address did make the price go up a little bit, not very much though. I guess I'm spreading the good news I can find around it to make myself a bit more positive that the 40 cents I invested in them isn't completely gone and it isn't 100% confirmed a scam yet/
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creativex (OP)
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September 15, 2013, 08:49:02 PM |
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The chances that labcoin is a "scam" is near zero IMO, but they're not being transparent and their last posts make some of their previous posts borderline lies. When you say "We're hashing at 2Th" and then later say you're having trouble tweaking miners and you hope things are way awesome in late October...well...this seems like management speak for "SELL! SELL!". At any rate their credibility is non-existent at this point so there's no reason to hold. They also said there'd be a doubling of hashpower to 4Th/s by tomorrow, but they've since ignored every question about what their current hashrate is. This after their projections went from 6 to 3-4 to 2 to unknown. No idea what's really going on because we're getting conflicting reports while we're being given reasons to doubt their every word.
Cheers.
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creativex (OP)
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September 15, 2013, 09:45:20 PM |
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Promise: Out of necessity a new thread for a new product: I want to test the waters if you would be interested in such a board
The Bitfury design i am working on is a 16 Chip board with the same form factor as the BitBurner. I think it makes sense that i will sell boards including the chips now - no more group buys.
Best demonstrated performance per chip is currently 2.7Ghash resulting in 42ghash/s per board. I am aiming for 5 Ghash per chip, i will be doing things differently then the competition which will hopefully allow us to squeeze more performance out of this silicon. Host interface and Controller / stacking will stay the same.
Price: ~470eur+vat (Complete module including chips) Delivery: early October if Punin delivers on time. Reality w/ CryptX involved: Price: ~470eur+vat (Complete module including chips) Delivery: early October if Punin delivers on time.
Site is online and price with shipping (to germany) and VAT is 895.40€ - are you kidding me? Not interested. Burnin might as well not waste his time on this product at that price point. Though we wouldn't have to pay VAT, shipping to the US would be costly both in absolute terms and in mining revenue lost while the gear was in transit. Cheers.
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BitCoiner2012
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September 15, 2013, 11:00:57 PM |
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What is the next planned deployment of hash power for BASIC, if I might ask anyone privy?
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BTC Long.
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VolanicEruptor
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September 15, 2013, 11:03:35 PM |
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What is the next planned deployment of hash power for BASIC, if I might ask anyone privy?
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creativex (OP)
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September 15, 2013, 11:18:17 PM |
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What is the next planned deployment of hash power for BASIC, if I might ask anyone privy? Hi BitCoiner2012. Everyone is privy to this information. It was posted on this thread, at btct.co(news), on our spreadsheet, and on basic-mining.com. **NEWS ITEM**bASIC-Mining taps Bitfury US for 800Gh/sbASIC-Mining is pleased to announce the purchase of it's first generation 2 ASIC mining hardware. An order for 800Gh/s has been placed with Bitfury US for October delivery. Bitfury's impressive performance both in producing and delivering what is now the market's leading equipment made this an easy decision. Upon receipt of this equipment bASIC-Mining's hashrate will rise to approximately 2,235,000Mh/s. Additional information about this purchase as well as all of bASIC-Mining's current hardware will be made available at http://www.basic-mining.com Cheers. CreativeX https://bitcointalk.org/index.php?topic=130982.msg3075722#msg3075722
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freedomno1
Legendary
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Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
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September 16, 2013, 04:37:13 AM |
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Right, + bitfury for October, possibly avalon G2 for October, hashfast, cointerra, etc...
This has the potential to get ugly in Q4. Rather than risk capital on gear that could be rendered unprofitable within just a few months, we should instead focus our efforts on obtaining hardware that will be hashing long after G1 products are kicked off the blockchain. 25.5 sounds reasonable, but it's .307/Gh of G1 equipment. Bitfury for October delivery is .156/Gh right this second and has an efficiency that will see it hashing even after knc gear is unplugged.
Though the avalon for 25.5 would be hashing for us sooner than the same BTC applied to an additional bitfury order, it still doesn't make sense as our risk of never seeing a positive ROI is far higher with the avalon purchase. Just a few weeks ago this equation would've been completely different.
Cheers.
Holding is a wise decision in an environment like this, until we have proper calculations on what is delivering who is delivering and how much they are delivering any investment in current generation products is a risk. And woot to the bitcoin network hitting 1 Petahash now its easy to calculate network percentages in Terrahashes for a while 1.435% going up to 2.235% http://blog.standardcrypto.com/2013/09/15/what-does-one-petahash-look-like/http://thegenesisblock.com/bitcoin-network-reaches-1-petahash-per-second/@ Labcoin well it might be a zero sum or non-zero sum game really hard to tell wait till Wednesday I guess
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Believing in Bitcoins and it's ability to change the world
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mutex
Member
Offline
Activity: 99
Merit: 10
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September 16, 2013, 07:29:56 AM |
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And woot to the bitcoin network hitting 1 Petahash now its easy to calculate network percentages in Terrahashes for a while 1.435% going up to 2.235% You are one order of magnitude off, it's 0.1435% going up to 0.2235%
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mutex
Member
Offline
Activity: 99
Merit: 10
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September 16, 2013, 08:50:14 AM |
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creativex,
Do you have any plans (and funds) for further mining purchases, something beyond bitfuries?
A 55% increase in hashing power (800 GH/s) for the whole month of October doesn't look quite adequate considering the ongoing difficulty surge. Should we maybe sacrifice dividends in short term to secure more mining equipment (28nm, preferably)?
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JimiQ84
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September 16, 2013, 09:59:08 AM |
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creativex,
Do you have any plans (and funds) for further mining purchases, something beyond bitfuries?
A 55% increase in hashing power (800 GH/s) for the whole month of October doesn't look quite adequate considering the ongoing difficulty surge. Should we maybe sacrifice dividends in short term to secure more mining equipment (28nm, preferably)?
I know I am not creativex, but I'll answer anyway. If you look at the official spreadsheet - https://docs.google.com/spreadsheet/ccc?key=0ArTS7AD--9SWdDNfb0lRNElqS1k1eGRoWEw2TGM4NlE#gid=0you'll see we have 703 BTCs at our disposal for new purchases. creativex has wisely chosen strategy to wait out price war and order the cheapest and most efficient hardware possible. Bitfuries are just a tip of iceberg.
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