[PicoStocks] 100TH/s bitcoin mine [100th]

[HeRetiK]

What actions?

Appropriate actions.

Hamid: "What's that?"
Rambo: "It's blue light."
Hamid: "What does it do?"
Rambo: "It turns blue."

[Bitweasil]

What actions?

Appropriate actions.

What are they?

The mine is late to capacity, and basically seems abandoned at this point.

We need to produce new PCBs and populate them with chips. This delays the deployment by an additional month and causes substantial losses for the 100th-mine investors. As a response we will increase the hashing power of the mine to 200TH/s in the next 2 months.
 
Created on 2013-08-13 20:14:00

It's been 2 months.  Are we at 200TH yet?

In 2-3 weeks we will have the remaining hash-rate when new hardware arrives.

Created on 2013-09-22 19:15:00    by Leszek Rychlewski; Published on 2013-09-22 19:27:08    by koji;

It's been over 4 weeks since this announcement.  Is the rest of the hardware online?

The mine has not met the parameters, does not seem on track to, and due to the time-sensitive nature of bitcoin mining under rapid growth periods, even coming up to 200TH by the end of the year will be worthless.

It has failed.

Now, what are "appropriate actions"?  The people who got in for the IPO have gotten massive profits out of it, leaving everyone else holding the bag.

[papamoi]

let the ukrainian take profit

this is the action they have taken....

[Bitweasil]

let the ukrainian take profit

this is the action they have taken....

Yes, we are aware.  Just sad to see yet another failed project in the bitcoin realm.

[corrow]

What is the problem OP? Why not sharing some information or in some way take responsibility for not making earlier promises. What is going wrong and why? What is current hashrate? Why isn't everything transparant? Well, It is time!!! You own us as shareholders some detailled explanations. Easy thing to spend money when It is not yours!!!! 

[Andrey]

Looking at reports of Buzzdave selling hardware and Tytus about using new gen boards for "own mining" while also checking how much dividends are possible with current difficulty (with it stopping to rise in few jumps). I've just sold my shares. My estimation of their return is about 0.02 btc since now and till dividends are negligible.

[Bitweasil]

Easy thing to spend money when It is not yours!!!! 

They certainly have, and I suspect you're not about to get any of it back.

*sigh* Should have known better than to invest in anything I didn't physically touch.

[iCEBREAKER]

bug fixed. trades are executed now. Sorry guys.

Share price will only improve if we add more hashing power. We work on this full time.

tytus, please provide an update on the status of our mine.

When do you anticipate completing deployment of the first 100TH?

When do you project bringing the second 100TH online and fulfilling the 200TH commitment?

Thanks!

[corrow]

And in addition: It is a good thing to share open and public a current hashing performance of the mining farm.
Some graphs, stats, which address will be used for mining etc...

It is your duty to give us news... And make us happy again! 

[Bitweasil]

It looks like the hash rate has dropped significantly based on the lack of dividends being paid out.

[tinyfox266]

It looks like the hash rate has dropped significantly based on the lack of dividends being paid out.

+1

The total hashrate of the network has reached 3PH, even the whole 200Th is deployed, only 10 blocks can be found every day. And this situation can only last for a short time, and the dividends will drop little by little then.
The estimated hashrate at the end of this year is 10,000TH (https://bitcointalk.org/index.php?topic=283820.0)

[kaerf]

yeah, there is very high variance with 100-200TH these days. the mine should probably switch to pooled mining for better stability.

Here's what I'm seeing since the last diff change.


As you can see, we're jumping around +/- 40 to 100TH a day due to variance (or maybe due to manual payouts?).

[snowdropfore]

no update？？ we are being abandoned

[finlof]

no update？？ we are being abandoned

abandoned would be 0 TH and no dividends.  they just arent saying anything cause they dont have anything to say that will appease investors.

[buzzdave]

Hi guys.  Don't believe the FUD.  We are *still* working diligently to build the mine.  There was a significant delay caused by Chinese Mid-Autumn Festival, which was compounded by a component manufacturer playing games with our supply.  We have a significant amount of hardware on the brink of arrival.
I'm spending a ton of money (not 100TH investor money) preparing a new site to handle the power needs of future growth, which includes the 200TH mining project.  

Think about it this way:  Tytus and I are both still holding shares of this mining project.  The *only* way to get shares to rise is to land significant hashpower that is measurably paying dividends to shareholders.  You can sell your shares based on FUD and troll posts or you can hang in there and get the benefit of the  hashing we promised.

We remain committed to delivering the intended value of this investment - both for you investors and for our own investments.

This is the official status of all the hardware we have at this point:
***There is no own-mining...its all going to this project***

Soon the hashpower figures will be up on megabigpower.com, and you can track it for yourself.

[Andrey]

Hi guys.  Don't believe the FUD.  We are *still* working diligently to build the mine.  There was a significant delay caused by Chinese Mid-Autumn Festival, which was compounded by a component manufacturer playing games with our supply.  We have a significant amount of hardware on the brink of arrival.
I'm spending a ton of money (not 100TH investor money) preparing a new site to handle the power needs of future growth, which includes the 200TH mining project.  

Think about it this way:  Tytus and I are both still holding shares of this mining project.  The *only* way to get shares to rise is to land significant hashpower that is measurably paying dividends to shareholders.  You can sell your shares based on FUD and troll posts or you can hang in there and get the benefit of the  hashing we promised.

We remain committed to delivering the intended value of this investment - both for you investors and for our own investments.

This is the official status of all the hardware we have at this point:
***There is no own-mining...its all going to this project***

Soon the hashpower figures will be up on megabigpower.com, and you can track it for yourself.

Thanks for the update, Dave. Still it seems way too late. With competition having prices of about 0.08 btc per GH with instant delivery even current price of 0.04 btc per 0.4 GH delivered somewhere in future seems like overprice. Not to mention competition has huge transparency advantage. Its much more comfortable to see your GHs mine on your own account in the mining pool, then counting dividends per day and trying to guess current hashrate.

[Dexter770221]

One zero slip 0.08B/GH like in your sig...

[papamoi]

Hi guys.  Don't believe the FUD.  We are *still* working diligently to build the mine.  There was a significant delay caused by Chinese Mid-Autumn Festival, which was compounded by a component manufacturer playing games with our supply.  We have a significant amount of hardware on the brink of arrival.
I'm spending a ton of money (not 100TH investor money) preparing a new site to handle the power needs of future growth, which includes the 200TH mining project.  

Think about it this way:  Tytus and I are both still holding shares of this mining project.  The *only* way to get shares to rise is to land significant hashpower that is measurably paying dividends to shareholders.  You can sell your shares based on FUD and troll posts or you can hang in there and get the benefit of the  hashing we promised.

We remain committed to delivering the intended value of this investment - both for you investors and for our own investments.

This is the official status of all the hardware we have at this point:
***There is no own-mining...its all going to this project***

Soon the hashpower figures will be up on megabigpower.com, and you can track it for yourself.

hi dave

people are upset for several reasons:
-first they have financed the project and they are the least to get something from it.
-second there is other people who are able to get 600 ths online based on same chips while you are not able to put 100 ths in the same amount of time
-the project is commited to fail because the hashrate(because of the ukrainian factor as well)have shooted up and the 200 ths is almost similar to the 1.5 terahahs when people have started to invest in it

now question:

how people who have invested in this will get back their money?

if you can answer this question,maybe people will have clear sight

thanks

[Andrey]

One zero slip 0.08B/GH like in your sig...

Yep, thanks, its of course 0.04 and 0.08. Although I remember when they were 0.4 and 0.23 respectively

[SebastianJu]

Hi guys.  Don't believe the FUD.  We are *still* working diligently to build the mine.  There was a significant delay caused by Chinese Mid-Autumn Festival, which was compounded by a component manufacturer playing games with our supply.  We have a significant amount of hardware on the brink of arrival.
I'm spending a ton of money (not 100TH investor money) preparing a new site to handle the power needs of future growth, which includes the 200TH mining project.  

Think about it this way:  Tytus and I are both still holding shares of this mining project.  The *only* way to get shares to rise is to land significant hashpower that is measurably paying dividends to shareholders.  You can sell your shares based on FUD and troll posts or you can hang in there and get the benefit of the  hashing we promised.

We remain committed to delivering the intended value of this investment - both for you investors and for our own investments.

This is the official status of all the hardware we have at this point:
***There is no own-mining...its all going to this project***

Soon the hashpower figures will be up on megabigpower.com, and you can track it for yourself.

First i thought you will announce to establish a permanent reinvestment since you wrote about rising the shareprice. Then i read "get the benefit of the hashing we promised". So only the TH that were promised. What means only a temporary rise.

"***There is no own-mining...its all going to this project***" would be way sweeter when i could read ***There is no own-mining or own-selling...its all going to this project***

By the way... the own-mining claim was not that you now mine for yourself only. It means you will do once the 200TH are met. Maybe you even will raise the 200TH to make up for the waiting time but this project was never meant for the long run. At least i would await that you would mention a ongoing mine since this statement really would change the shareprice.

Looks like im angry. Though the only thing i could be angry against the issuer is that the 200TH werent built fully from the start and other tech was bought instead that was sold without profiting all shareholders.