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Author Topic: [PicoStocks] 100TH/s bitcoin mine [100th]  (Read 467467 times)
vtcer0001
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January 27, 2014, 09:28:48 PM
 #1561

I see now,

I can also see some BTC that were not paid to share holders @ 1HmCtCgZhae2A8mosKNLfpzbFtpaGEhv7G

In  a chain of:

Newly generated coins --> 1HmCtCgZhae2A8mosKNLfpzbFtpaGEhv7G --> 1LyZ2QJDJDJ7Mf8caQb2uRLgBVqBF9GvH4

Theres a final balance of 125 BTC there (in 1HmCtCgZhae2A8mosKNLfpzbFtpaGEhv7G)

Guess this is what everybody was talking about transparency Huh Huh
1511029406
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ujka
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January 27, 2014, 10:09:47 PM
 #1562

I see now,

I can also see some BTC that were not paid to share holders @ 1HmCtCgZhae2A8mosKNLfpzbFtpaGEhv7G

In  a chain of:

Newly generated coins --> 1HmCtCgZhae2A8mosKNLfpzbFtpaGEhv7G --> 1LyZ2QJDJDJ7Mf8caQb2uRLgBVqBF9GvH4

Theres a final balance of 125 BTC there (in 1HmCtCgZhae2A8mosKNLfpzbFtpaGEhv7G)

Guess this is what everybody was talking about transparency Huh Huh
Transparency, with 150 addresses...
http://organofcorti.blogspot.com/2014/01/164-updated-unknown-network-hashrate.html
vtcer0001
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January 28, 2014, 12:48:45 AM
 #1563

you mean all those are in 1 mine?
ujka
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January 28, 2014, 10:01:10 AM
 #1564

you mean all those are in 1 mine?
From that blog:
Quote
I spent some time reading the Picostocks 100TH Mine thread and found a few addresses there, and then looked through all the transactions here for generating addresses, and found one hundred and fifty five.
vtcer0001
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January 29, 2014, 12:28:52 AM
 #1565

Understood

Thanks for clearing that out


I have one more concern, I'm seeing a significant reduction on the qty of times we get paid per day, are there plans to increase the hardware from 500th to 1 ph?

And if so, will the value of our held shares before the investment be conseidered as 2 ghs per share?
klondike_bar
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January 29, 2014, 12:40:57 AM
 #1566

Understood

Thanks for clearing that out


I have one more concern, I'm seeing a significant reduction on the qty of times we get paid per day, are there plans to increase the hardware from 500th to 1 ph?

And if so, will the value of our held shares before the investment be conseidered as 2 ghs per share?

without a secondary IPO, yes. however, there is absolutely no responsibility on thier part to add any more hashrate - I imagine Buzzdave and tytus have a private mine that may soon eclipse the 72TH 100TH 200TH 500TH mine

24" PCI-E cables with 16AWG wires and stripped ends - great for server PSU mods, best prices https://bitcointalk.org/index.php?topic=563461 also selling 6" M-F-M PCIe splitters and PCIe-PCIe
No longer a wannabe - now an ASIC owner!
vtcer0001
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January 29, 2014, 01:13:44 PM
 #1567

Looks like the 500th mine took a day off lol  Grin Cheesy
karol
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January 29, 2014, 03:50:03 PM
 #1568

Maybe it is time to go to mine not mining solo, - ay block from yestarday morning.
BitHereBitThere
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January 29, 2014, 04:52:10 PM
 #1569

Looks like the 500th mine took a day off lol  Grin Cheesy

I do not think anyone took a day off if you check http://150.254.111.246/us/ you can see the mine is up and running at 500TH.  The problem is this https://blockchain.info/charts/hash-rate?timespan=60days&showDataPoints=true&daysAverageString=1&show_header=true&scale=0&address= the increased difficulty caused by so many miners coming online. The difficulty is in place to make sure that blocks are found on average every 10 min. As more mines come online the difficulty must increase or the blocks would be found at a much faster rate. In order for the mine to remain profitable it must grow larger or join another mining pool that is solving blocks on a regular basis. The problem with that is the block solved is shared across the entire pool and it would result in a much lower dividend but at least it would be something. If 500TH which is only 2.9% of the current total hashing is not able to solve at least 4 blocks per day then there in lies the problem.  However when it reaches a point that mining is no longer profitable for someone to purchase there own equipment and join a pool. The hash rate should flatten even drop off causing difficulty to drop. Until that happens it would be a good solution to join a pool that is running somewhere around 2000TH the dividends would be cut down to 20% of what they currently are however if a 2500TH (which would be 14% of the current total hash power) could solve 14% of the daily blocks which would be 20 blocks daily then the 500th's daily share would be 4 blocks or 100 Btc. That would keep daily dividend payments per share at what we saw the last 2 days 1-27, 1-28  0.00018976 btc/share/day. Solution #2 figure out exactly how much $ it will cost to add an additional TH to the mine looking at Dave's website retail that is about $13 per GH I which is .01625 btc per GH however actual cost must be lower. At the current share price if pico stocks was to double the stocks to add an additional 518271 shares and sell them at the current .025 Btc/ share it seems like it would be enough to bring the mine up to 1500TH maybe even 2000TH. This would not affect dividend payments as soon as all the GH was brought online because of the additional blocks daily the mine would be solving the daily dividend per share would remain close to the same.  I don't know Dave's actual costs but as a shareholder I am asking that a Goal be set in place to keep this mine profitable.  I like option #1 better myself because we would see instant results vs having to wait out more construction. Or maybe we do both and pull out of the pool when our additional TH is sufficient to run on our own again.  I think maybe a shareholder vote could be setup on the picostocks site. Dave , Titus please let us know what you think. Is there a plan? 

PS. I just checked we just mined one block while I was typing this. ea895998e4c7e8632371388024b724f96e58caac472537f489bec0ab25c001d0 1 in the last 24 hours is not going to work.
DEx333
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January 29, 2014, 05:51:19 PM
 #1570

Don 't think we should trust them? The main advantage of this mine is that they increased their processing power.
Take into account that the shareholders have a negligible % of the shares.
These few % of the shares in the context of what they have is practically nothing.
Much more valuable to them should rather be the confidence of the whole community.
This will allow them to do the best, most profitable business.
If they lose confidence in the community it will be the end of their interests in the domain Bitcoin.
I put my hopes in them Wink. I believe that there are professionals who respect the confidence placed in them.
I'm sorry for using the google translator, but to me it was difficult to convey the sense of my thinking in a different way.
gebir
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January 30, 2014, 06:13:10 AM
 #1571

48 h. - 1 (one) solved block   - this is not funny
karol
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January 30, 2014, 07:29:15 AM
 #1572

https://bitcointalk.org/index.php?topic=438359.0

Quote
Partners
We are especially interested in the following types of business partners:

1. Large mining operation owners who can also do massive PCB production of their own.

Maybe this can be a opprotunity for 500th?

Dave,Tytus?
Dexter770221
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January 30, 2014, 08:08:29 AM
 #1573

And why they may want to buy chips from ASICMINER? They have own chips. Production of that chip cost them propably less than a 1$.

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.
karol
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January 30, 2014, 04:05:58 PM
 #1574

Becouse it seems that chips will be created faster than creating new ones by tytus.
And in meantime we mined only one block a day. Prices per share fall down to 0.023
klondike_bar
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January 30, 2014, 04:52:17 PM
 #1575

Becouse it seems that chips will be created faster than creating new ones by tytus.
And in meantime we mined only one block a day. Prices per share fall down to 0.023


the real concern IMO is that the mine makes no promise to expand. They have expanded in the past very successfully but that does not reveal the future. It may just be that they follow the path of CEX.io from here

24" PCI-E cables with 16AWG wires and stripped ends - great for server PSU mods, best prices https://bitcointalk.org/index.php?topic=563461 also selling 6" M-F-M PCIe splitters and PCIe-PCIe
No longer a wannabe - now an ASIC owner!
gebir
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January 30, 2014, 04:55:20 PM
 #1576

What is the worst?
Any information from the management.
BitHereBitThere
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January 30, 2014, 06:02:24 PM
 #1577

48 h. - 1 (one) solved block   - this is not funny

Actually you have to look at the Mining Wallets to see the Mining activity Good news is that there was 125 Btc mined 5 blocks In one day That is good news for share holders. I think Dave and Titus are doing a great job of keeping the mine over 500TH I just wish that they would weigh in on the future plans.


From what I can tell there are 2 Mining wallets currently in use. MvDJ is the new one and hv7G looks like it is getting phased out. Looking at the activity a Mining wallet is only used for about 10 days. Then a new one is created this is for security reasons as far as I can tell.

1FfYQPrN8NUhiuwWpqRTw3zrofkLi9MvDJ  and 1HmCtCgZhae2A8mosKNLfpzbFtpaGEhv7G
buzzdave
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January 30, 2014, 06:40:06 PM
 #1578

Near as we can tell, we had a run of bad luck.  We are looking at it more, but don't see that anything is (or was) wrong.  Now there are a bunch of new blocks maturing, with no changes on our side...this will get worse as difficulty rises and variance becomes more apparent.  We are planning to create a private pool so that we can pay out the 500TH shareholders on a more regular basis.  Not sure when that will be ready, but we've got most of the work done.

As to the question of whether we will expand - it has been stated many times, very clearly that this was a fixed size project.  Initially it was 100TH, but Tytus expanded it 5x to try to give a good return to investors.  For early investors, the mine has hit ROI weeks ago.  For investors who would buy shares now, I'd have to say compare our price/GH to that of cex.io and make your own decision.  Comparatively I think we have a good price/GH for leased hashpower.

Dave


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January 30, 2014, 07:18:01 PM
 #1579

Near as we can tell, we had a run of bad luck.  We are looking at it more, but don't see that anything is (or was) wrong.  Now there are a bunch of new blocks maturing, with no changes on our side...this will get worse as difficulty rises and variance becomes more apparent.  We are planning to create a private pool so that we can pay out the 500TH shareholders on a more regular basis.  Not sure when that will be ready, but we've got most of the work done.

As to the question of whether we will expand - it has been stated many times, very clearly that this was a fixed size project.  Initially it was 100TH, but Tytus expanded it 5x to try to give a good return to investors.  For early investors, the mine has hit ROI weeks ago.  For investors who would buy shares now, I'd have to say compare our price/GH to that of cex.io and make your own decision.  Comparatively I think we have a good price/GH for leased hashpower.

Dave



Ok...panic sell in 3...2...1...
BitHereBitThere
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January 30, 2014, 09:12:27 PM
 #1580

Near as we can tell, we had a run of bad luck.  We are looking at it more, but don't see that anything is (or was) wrong.  Now there are a bunch of new blocks maturing, with no changes on our side...this will get worse as difficulty rises and variance becomes more apparent.  We are planning to create a private pool so that we can pay out the 500TH shareholders on a more regular basis.  Not sure when that will be ready, but we've got most of the work done.

As to the question of whether we will expand - it has been stated many times, very clearly that this was a fixed size project.  Initially it was 100TH, but Tytus expanded it 5x to try to give a good return to investors.  For early investors, the mine has hit ROI weeks ago.  For investors who would buy shares now, I'd have to say compare our price/GH to that of cex.io and make your own decision.  Comparatively I think we have a good price/GH for leased hashpower.

Dave



Ok...panic sell in 3...2...1...

fractal02 you were spot on look how the share price has dropped today all the way down to 0.015000
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