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Author Topic: [PicoStocks] 100TH/s bitcoin mine [100th]  (Read 467516 times)
kaerf
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October 16, 2013, 06:38:28 PM
 #1221

picostocks.com looks broken again
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Andrey
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October 16, 2013, 07:04:21 PM
 #1222

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We are down for maintanance.
We will be up shortly.

kaerf
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October 16, 2013, 07:17:04 PM
 #1223

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We are down for maintanance.
We will be up shortly.

der..thx. i was refreshing a direct link.
Bitweasil
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October 17, 2013, 01:26:10 AM
 #1224

So...

Where do we sit on this project?

Quote
Hardwarewill be produced and assembled in June 2013. Mining will start at the data center on 2012-07-01. Estimations based on a predicted realistic continuous monthly network hashrate increase of 100TH/s (starting from 0TH/s on 2013-01-01) and selected today’sBTC exchange rate of 17 USD point to a return of investment of 500k USD in 3 months after mining starts, i.e. in September 2013. Total income over the next 4 years after subtraction of the initial investment costs of 500k USD amount to 2.7M USD.

It's mid October, and we're not even up to the stock 100TH, much less the revised 200TH.  And there's very little communication.

I regret investing in this project at this point.  I'd have been better off spending the 30btc on silver.

Need high quality, rack mountable GPU clusters for OpenCL work or password auditing?  http://www.stricture-group.com/
snowdropfore
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October 17, 2013, 02:57:20 AM
 #1225

So...

Where do we sit on this project?

Quote
Hardwarewill be produced and assembled in June 2013. Mining will start at the data center on 2012-07-01. Estimations based on a predicted realistic continuous monthly network hashrate increase of 100TH/s (starting from 0TH/s on 2013-01-01) and selected today’sBTC exchange rate of 17 USD point to a return of investment of 500k USD in 3 months after mining starts, i.e. in September 2013. Total income over the next 4 years after subtraction of the initial investment costs of 500k USD amount to 2.7M USD.

It's mid October, and we're not even up to the stock 100TH, much less the revised 200TH.  And there's very little communication.

I regret investing in this project at this point.  I'd have been better off spending the 30btc on silver.

i bought at 0.37 per share,fuck me now .tytus offer a lots of shares at 0.3,now the price is 0.05.

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mrb
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October 17, 2013, 04:44:11 AM
 #1226

As of today, October 16, one can assuredly say that this project has permanently failed to bring profits, via mining dividends, for anyone who bought at a price higher than 0.05 BTC per share.

No amount of effort to bring the mine to 200 TH/s soon-ish will ever be able to return more than 0.05 BTC total per share, over the entire future life time of the project. Even with the most optimistic estimations. From the beginning until today, each share has mined approximately 0.02 BTC so far. And even if we assume buzzdave will be able to bring the mine from ~75 Th/s to 200 Th/s 2 weeks from now (end of October), and assuming an optimistic average global daily hashrate increase of 2% for the next 6 months, each share would represent 400 Mhash/s and would mine no more than 0.03 BTC. Mining dividends beyond 6 months are literally negligible (less than 0.005 BTC). Hence the total mined by each share would be approximately 0.05 BTC.

The only persons who have made or will make profits are those who:
- did it via speculation (as opposed to mining dividends), eg. buying low and selling high. There was opportunity to speculate given that the stock reached a high of ~0.40 BTC. I sold a bunch at this price. You should have too if you did the math.
- are IPO investors and bought at 0.04 BTC. They may hope to get total mining dividends of 0.05 BTC, therefore realizing a tiny return of 0.01 BTC per share.
papamoi
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October 17, 2013, 04:44:23 AM
 #1227

in the meantime the ukrainian guy you have financed with your money have more than 450 th of chips working for him


what a great deal you have done guys

very smart investment and others are profiting from your investment

very cool

Bitweasil
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October 17, 2013, 05:20:59 AM
 #1228

There was opportunity to speculate given that the stock reached a high of ~0.40 BTC. I sold a bunch at this price. You should have too if you did the math.

I sadly had done the math assuming that the hash rate would come online as advertised, not badly delayed.  A month or so ago, if 200TH had come on when initially promised/implied, the shares would have been worth closer to 0.15-0.30 per share in mining dividends.  I sold some in the mid 0.3s, but didn't dump everything, thinking they'd actually do what was promised and was starting to show up.

But, yes, I've lost a few dozen btc on this project due to their delays.  Not very happy with them.  And the website is down.  Again.  Still.

Need high quality, rack mountable GPU clusters for OpenCL work or password auditing?  http://www.stricture-group.com/
papamoi
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October 17, 2013, 05:24:53 AM
 #1229

At least you have made some ukrainian happy

at least that s good for you all
Bitweasil
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October 17, 2013, 05:30:40 AM
 #1230

Yeah. Like most of bitcoin, either scammers or incompetent. This is looking less like the second and more like the first with the shipments taking priority over the 100TH project.

mrb being a rare counterexample. Despite also getting screwed by supplier delays.

Need high quality, rack mountable GPU clusters for OpenCL work or password auditing?  http://www.stricture-group.com/
ujka
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October 17, 2013, 07:51:36 AM
 #1231

At least you have made some ukrainian happy

at least that s good for you all
Yes, and he can be kind enough now to say thanks to us here.  Sad
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October 17, 2013, 07:58:10 AM
 #1232

Have to say this doesn't look good now. I believed they would compensate people who invested in this early on.

They should have deployed the mine before they started to send equipment to customers, some people invested money in this on February believing they would be the first to benefit from the bitfury asics if they were succesful. Now people who ordered equipment in July got their miners on August before the 100Thash mine.

If the people behind the project don't find a way to compensate investors I'm sure the trust is gone forever.
Andrey
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October 17, 2013, 08:01:52 AM
 #1233

At least you have made some ukrainian happy

at least that s good for you all
Yes, and he can be kind enough now to say thanks to us here.  Sad

Tytus fucked this one up. How is it Bitfury to blame?

ujka
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October 17, 2013, 11:27:17 AM
 #1234

At least you have made some ukrainian happy

at least that s good for you all
Yes, and he can be kind enough now to say thanks to us here.  Sad
Tytus fucked this one up. How is it Bitfury to blame?
No, no, I'm not blaming bitfury. He made a very efficient 1st gen. bitcoin asic and deserves every btc that's coming his way for that. Of course, I'm not happy I lost btc, HERE.
Dexter770221
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October 17, 2013, 12:39:24 PM
 #1235

coint goes live. I wonder how this will turn out....

Under development Modular UPGRADEABLE Miner (MUM). Looking for investors.
Changing one PCB with screwdriver and you have brand new miner in hand... Plug&Play, scalable from one module to thousands.
chstls
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October 17, 2013, 02:40:03 PM
 #1236

coint goes live. I wonder how this will turn out....
Wow!the market ask for 3 times of iPo price.

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October 17, 2013, 02:57:49 PM
 #1237

coint goes live. I wonder how this will turn out....
Wow!the market ask for 3 times of iPo price.

You missed one zero.... 38 times... And there was some idiot that bought almost 40 times IPO price...

Under development Modular UPGRADEABLE Miner (MUM). Looking for investors.
Changing one PCB with screwdriver and you have brand new miner in hand... Plug&Play, scalable from one module to thousands.
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October 17, 2013, 03:04:56 PM
 #1238

The graphs on Picostocks are the furthest from user friendly I have ever seen
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October 17, 2013, 05:24:17 PM
 #1239

coint goes live. I wonder how this will turn out....
Wow!the market ask for 3 times of iPo price.

You missed one zero.... 38 times... And there was some idiot that bought almost 40 times IPO price...

Well, that's wishes. More interesting is that someone already did 20%-100% profit from selling those.

edit: heh, someone actually sold couple of those for 3800%

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October 17, 2013, 08:11:35 PM
 #1240

coint goes live. I wonder how this will turn out....
Wow!the market ask for 3 times of iPo price.

You missed one zero.... 38 times... And there was some idiot that bought almost 40 times IPO price...

This 'idiot' has 2 ask orders and owns around 1300 share of coint, i would rather  name it: 'nice try'.
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