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

[Eric Muyser]

Latest report posted on Picostocks:

Deployment schedule

We are having problems finding contractors able to produce and assemble PCBs for us. The best time we are getting for the completion of the process is 2013-07-25. We will try to get faster production schedule but current worse case scenario is deployment of the mine by the end of July.

Created on 2013-06-30 18:04:00    by Leszek Rychlewski; Published on 2013-06-30 18:07:58    by koji;

Worst case scenarios in Bitcoin world come true all the time. I won't be surprised.

[HeRetiK]

Worst case scenarios in Bitcoin world come true all the time. I won't be surprised.

Almost everyone is delaying though, so we're still somewhat on course.

(AM being the single exception as of now, but it comes with a premium price...)

[MPOE-PR]

I went and checked nethash, to my shock and surprise it hasn't appreciably changed. Then I come here because literally I could not believe my eyes, how could the nethash not move with such a prestigious scamchange bringing online such a prestigious self-dreamed up scamsset! And then what do I see?!

Almost everyone is delaying though, so we're still somewhat on course.

I have read that again, where I wonder? Oh, I know! Hello 2012, nice to meet you again. Will you be staying for the rest of the year?

If outside the operator and his shills there exist any idiots that actually sent their .1 BTC or w/e into this black hole I would very much like to recommend you diversify into other great ventures, like perhaps this, or maybe bAsic. Good luck!

[HeRetiK]

i remember all your ranting against asicminer and how s.dice is much better an investment, so i take your skepticism as a good omen :p

seriously though, given the current state of the bitcoin ecosystem, what other ventures / assets are there outside of mining ventures with varying degrees of risk and scam-probability? most of the non-mining related ventures have little to show so far as well and many will fail or underperform. of course some assets are more attractive than others, but at the current stage of bitcoin the risk-reward relation of mining and other market assets still seem at par to me.

[MPOE-PR]

i remember all your ranting against asicminer and how s.dice is much better an investment, so i take your skepticism as a good omen :p

seriously though, given the current state of the bitcoin ecosystem, what other ventures / assets are there outside of mining ventures with varying degrees of risk and scam-probability? most of the non-mining related ventures have little to show so far as well and many will fail or underperform. of course some assets are more attractive than others, but at the current stage of bitcoin the risk-reward relation of mining and other market assets still seem at par to me.

Your memory is either very bad or else the general assemblage is kind of broken. Don't be afraid of quoting.

As to the other point: I'm not here to do your homework, I'm here to laugh at you, your bad memory, your broken general assemblage and your missing homework.

[HeRetiK]

...i wasn't asking for financial advice, i'm just interested in other people's opinions. the bullshit i'll weed out myself.

either way, fruitless discussion, moving on.

[Andrey]

...i wasn't asking for financial advice, i'm just interested in other people's opinions. the bullshit i'll weed out myself.

either way, fruitless discussion, moving on.

Don't take him seriously, he spams all over the forums with this: "This user is currently ignored." ,)

[HeRetiK]

...i wasn't asking for financial advice, i'm just interested in other people's opinions. the bullshit i'll weed out myself.

either way, fruitless discussion, moving on.

Don't take him seriously, he spams all over the forums with this: "This user is currently ignored." ,)

well someone has to keep the trolls well fed

[MPOE-PR]

...i wasn't asking for financial advice, i'm just interested in other people's opinions. the bullshit i'll weed out myself.

either way, fruitless discussion, moving on.

Don't take him seriously, he spams all over the forums with this: "This user is currently ignored." ,)

I can't fault you for talking too much, so that's a plus. If you read more you'd at least get the genders straight.

[hamiltino]

You didn't mention anything about your previous business history/qualifications. In the end of the day we are investing in you to pull this off.

[gebir]

         +-------------------+             .:\:\:/:/:.            
         |   PLEASE DO NOT   |            :.:\:\:/:/:.:           
         |  FEED THE TROLLS  |           :=.' -   - '.=:          
         |                   |           '=(\ 9   9 /)='          
         |   Thank you,      |              (  (_)  )             
         |       Management  |              /`-vvv-'\             
         +-------------------+             /         \            
                 |  |        @@@          / /|,,,,,|\ \           
                 |  |        @@@         /_//  /^\  \\_\          
   @x@@x@        |  |         |/         WW(  (   )  )WW          
   \||||/        |  |        \|           __\,,\ /,,/__           
    \||/         |  |         |          (______Y______)          
/\/\/\/\/\/\/\/\//\/\\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\
==================================================================

[Felipeo]

         +-------------------+             .:\:\:/:/:.            
         |   PLEASE DO NOT   |            :.:\:\:/:/:.:           
         |  FEED THE TROLLS  |           :=.' -   - '.=:          
         |                   |           '=(\ 9   9 /)='          
         |   Thank you,      |              (  (_)  )             
         |       Management  |              /`-vvv-'\             
         +-------------------+             /         \            
                 |  |        @@@          / /|,,,,,|\ \           
                 |  |        @@@         /_//  /^\  \\_\          
   @x@@x@        |  |         |/         WW(  (   )  )WW          
   \||||/        |  |        \|           __\,,\ /,,/__           
    \||/         |  |         |          (______Y______)          
/\/\/\/\/\/\/\/\//\/\\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\
==================================================================

 

+1

[circuitry]

This has to be the most poorly maintained thread of all mining operations. I understand you guys are working hard to be up and running in August, but seriously...

No updates? No pictures? No projections? No FAQ?

At all?

Even Friedcat posts more often than you guys

[yuchuanzhen]

=> we will sell shares next week (at market price) to get funds for additional expenses. I have no idea how many but most likely not more than 5000 shares.

They just put the 5000 wall,oh no,only 1000.

[TheSwede75]

There is still a market.  One of the principals is willing to sell at a certain price.  If people think its worth more, they can buy and profit.

No, they cannot, because tytus may and likely will enter the market and take away that profit. It's not about what people think it is worth, it is about what tytus thinks it's worth. That's the entire argument. If he freaks out, like he's done before, then any bad news may lead him to cause people to lose money. If bitfury now says that "damn, there's something wrong, we'll need another two months" then why wouldn't tytus take that out on investors by lowering the price he thinks it's worth?

.b

Please don't spread FUD and lies. The only one who freaked out was you, not Tytys. There was a good market information and all what Tytus did was throwing some shares of his own on the market to increase liquidity and prevent panic buy.

You should go back to your silly bond thread where you try to sell a 20BTC Metabank 120GHz ASIC for 400 BTC.
You are a hypocrite by pretending that you care for investors and all you really want is profit from newbies, suckers and "greater fools".

Ballsy of a "fund owner" selling 100gh/s for 400 BTC to criticize a mining OP that will offer (at current price) a possible 25% dividend in the first month or two of operation (based on 100th running in aug) while his fund is EV- from IPO price and just accelerated its demise with diff increases.

[furuknap]

Ballsy of a "fund owner" selling 100gh/s for 400 BTC to criticize a mining OP that will offer (at current price) a possible 25% dividend in the first month or two of operation (based on 100th running in aug) while his fund is EV- from IPO price and just accelerated its demise with diff increases.

Wow... Apparently, you didn't get your basic reading skills from any Swedish schools, because they seem to know what they're doing.

What about those 'suckers' that bought at market price just a few days ago, who was now delivered a 30% blow to their investments, just because tytus needed more money after miscalculating the cost?

Well, I guess that's OK; after all, he did say he'd sell at market himself, and then selling 30% below that... What's 30% between friends, right?

If you had bothered reading any of my critique, though, it is not about price because 100th is very competitively priced. The issue is how tytus runs picostocks and his approach to the market. If you had bought at a price that resembles mine (around 0.75) you would now have lost more than half your investment. Seems like a great investment now, right?

Why do you think the market doesn't want to pay as much for 100th as they pay for BFMines or TAT.VM? What do you think my investors would say if I broke my promise to keep the price at the announced level just because I had some extra bills to pay? Do you think perhaps they may say that 'why did I have to pay X when someone else just paid X-Y?'

In any case, a few weeks ago, I wrote about why 100th is no longer a viable asset to me, and tytus just demonstrated I was right.

http://coin.furuknap.net/100th-went-from-great-investment-to-disaster-in-one-act/

He was doing very well with his previous announcement, but once again failed to keep his promise, so it's sort of moot.

.b

[TheSwede75]

I went and checked nethash, to my shock and surprise it hasn't appreciably changed. Then I come here because literally I could not believe my eyes, how could the nethash not move with such a prestigious scamchange bringing online such a prestigious self-dreamed up scamsset! And then what do I see?!

Almost everyone is delaying though, so we're still somewhat on course.

I have read that again, where I wonder? Oh, I know! Hello 2012, nice to meet you again. Will you be staying for the rest of the year?

If outside the operator and his shills there exist any idiots that actually sent their .1 BTC or w/e into this black hole I would very much like to recommend you diversify into other great ventures, like perhaps this, or maybe bAsic. Good luck!

Mpoe is something ass violently odd as a risk-averse investor in BTC shares (except his own wild ventures of course, which always pan out and are 100% scam free). Everyone should listen to him and sell your shares super cheap (to me).

[TheSwede75]

Ballsy of a "fund owner" selling 100gh/s for 400 BTC to criticize a mining OP that will offer (at current price) a possible 25% dividend in the first month or two of operation (based on 100th running in aug) while his fund is EV- from IPO price and just accelerated its demise with diff increases.

Wow... Apparently, you didn't get your basic reading skills from any Swedish schools, because they seem to know what they're doing.

What about those 'suckers' that bought at market price just a few days ago, who was now delivered a 30% blow to their investments, just because tytus needed more money after miscalculating the cost?

Well, I guess that's OK; after all, he did say he'd sell at market himself, and then selling 30% below that... What's 30% between friends, right?

If you had bothered reading any of my critique, though, it is not about price because 100th is very competitively priced. The issue is how tytus runs picostocks and his approach to the market. If you had bought at a price that resembles mine (around 0.75) you would now have lost more than half your investment. Seems like a great investment now, right?

Why do you think the market doesn't want to pay as much for 100th as they pay for BFMines or TAT.VM? What do you think my investors would say if I broke my promise to keep the price at the announced level just because I had some extra bills to pay? Do you think perhaps they may say that 'why did I have to pay X when someone else just paid X-Y?'

In any case, a few weeks ago, I wrote about why 100th is no longer a viable asset to me, and tytus just demonstrated I was right.

http://coin.furuknap.net/100th-went-from-great-investment-to-disaster-in-one-act/

He was doing very well with his previous announcement, but once again failed to keep his promise, so it's sort of moot.

.b

Then I guess your argument holds somewhat more water. I would still like to see you plug BFMINES into the ROI calculation you made for ASICMINER and 100TH in the comparison post and explain (not explain away) how you plan of providing positive return to anyone investing in BFMINES at IPO price.

I am aware it's not an 'ownership' stock, but I still can't shake the feeling that you purchased a 120Gh miner for BTC40 (likely less, I purchased mine including US shipping for 30) and have resold it to share holders for BTC400 and change (since the bond represents only 100 of 120 GHs/ after bonus dividend).

Just comes off as a little "pricey" (insert huge smiley face). Then again, I pretty much consider all mining bonds "scams" at this point. The market is ripe for suckers I guess.

I honestly feel that the 100TH is the only possible exception, based on the amount of hash speed and possibly early time to market.

[furuknap]

Then I guess your argument holds somewhat more water. I would still like to see you plug BFMINES into the ROI calculation you made for ASICMINER and 100TH in the comparison post and explain (not explain away) how you plan of providing positive return to anyone investing in BFMINES at IPO price.

I did:

http://coin.furuknap.net/comparing-bfmines-to-alternatives/

In short, 100th is better priced, but I cannot trust the issuer so it's a moot point. I held 100th for a while because it was a worthwhile investment, but the risk of tytus doing something like he did now is too great for me.

If you're willing to take that risk, then 100th is a cheaper asset than BFMines, no question about that.

.b

[TheSwede75]

Then I guess your argument holds somewhat more water. I would still like to see you plug BFMINES into the ROI calculation you made for ASICMINER and 100TH in the comparison post and explain (not explain away) how you plan of providing positive return to anyone investing in BFMINES at IPO price.

I did:

http://coin.furuknap.net/comparing-bfmines-to-alternatives/

In short, 100th is better priced, but I cannot trust the issuer so it's a moot point. I held 100th for a while because it was a worthwhile investment, but the risk of tytus doing something like he did now is too great for me.

If you're willing to take that risk, then 100th is a cheaper asset than BFMines, no question about that.

.b

I guess what I don't understand (in general and not aimed at BFMINES which is actually one of the lower priced mining bonds), is how a lot of the mining bonds that offer no re-investment plans are going to "survive" long enough for bond owners to even make back the initial price in dividends vs. inevitable decline of the share value.

In comparison to most mining bonds, even buying USB block erupters is a EV+ proposition even power and some maintenance included. Especially the higher priced ones.

Or is it so simple that people are simply betting on cashing in on some early dividends and pass the share on at purchase price or higher to someone even worse at math then themselves?