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

[af_newbie]

Hm... Asicminer shares normally are priced that high that one could make 25% over a year. This share here now has 100% div in a year. I see a difference to asicminer but still i dont like the shareprice actually. If they had 200TH now already it would be 400% per year. I hope they get it done and that this security is found by more investors. Since they seem to mine already. Thats more than other securities can say.

AM is selling blades at ~4 BTC/10GH.

This security represents 100TH, i.e., 10,000 blades worth of hashpower. That would cost 40,000 BTC to buy.

Market cap:   120526.04077839 BTC

This is provably overvalued. You are getting a 3x better deal by buying ASICMiner blades, and you are likely to lose money on those too.

This security is going to be 200TH not 100

Still overvalued by the same math. The blades are just 1.5x cheaper. And we haven't discussed whether those are a good deal, just that they're a better one.

20000 blades would cost 80000btc to buy. Current lowest asking price of 200Thash mine is 0.15btc per share when the total share amount is 518271 which would make 200Thash cost 77741btc. So the cost is about equal. In 200Thash mine you don't have to manage anything by yourself and the management costs are much lower than running blades.

Why do you even see the trouble of making a post when you have almost all the facts wrong and your calculations are off by 300%?

Why are you so defensive?  BTC77741/200 works out to BTC388.7 per TH , BTC0.3887/GH or $47.81/GH
Ask yourself if this is such a good price.

Buying hardware directly is much cheaper even if 100th becomes 200th and price per share stays at 0.15.

H/W prices will drop, as will the income so the price per share will have to drop accordingly.

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[Dexter770221]

So....  Is picostocks dividends posting broken?  Seems to be stuck here and has been for hours:

Id      Amount              Status Time                   Block Hash     Transaction
507    8.73929755    init    2013-09-23 23:31:19    -----    42ba4186890943c2..

It's up now, but no single block over night. Something was wrong and mine wasn't working, I guess...

[tarmi]

So....  Is picostocks dividends posting broken?  Seems to be stuck here and has been for hours:

Id      Amount              Status Time                   Block Hash     Transaction
507    8.73929755    init    2013-09-23 23:31:19    -----    42ba4186890943c2..

It's up now, but no single block over night. Something was wrong and mine wasn't working, I guess...

https://blockchain.info/address/19t7RxwXdfiwQMyQ3JVB16e9HgV7omijSs

I can see 8.73929755 btc paid to investors, but where did the last 2k coins go?

[Dexter770221]

So....  Is picostocks dividends posting broken?  Seems to be stuck here and has been for hours:

Id      Amount              Status Time                   Block Hash     Transaction
507    8.73929755    init    2013-09-23 23:31:19    -----    42ba4186890943c2..

It's up now, but no single block over night. Something was wrong and mine wasn't working, I guess...

https://blockchain.info/address/19t7RxwXdfiwQMyQ3JVB16e9HgV7omijSs

I can see 8.73929755 btc paid to investors, but where did the last 2k coins go?

Users withdrawals. Look at the ends of addresses.

[tarmi]

ah, yes, its a hot wallet, I forgot...

[Dexter770221]

Finally new blocks are showing....

[snowdropfore]

Sorry for the silence ... I am too busy with hardware and software management ... We are changing to solo mining. We have 3rd-party local pool software. It can take few more hours to set it up properly. I assume, when west cost wakes up, we will finish the process by the end of the day.

We have still only ca. 70TH/s. We are waiting for new hardware to arrive. I am working on a page to monitor the work of all miners.

finally you show up. thanks for the hard work.

[Dexter770221]

Yep, good to see that he is alive...
But would be greater to hear some really good news like reinvesting. Since bussines plan is no longer valid (now we have 600TH monthly increase instead worse case scenario 200TH) it would be nice to protect investors and put this mine to higher levels.

[-Redacted-]

And why isn't the 100TH mine setting an identifier in their coinbase?

[snowdropfore]

Yep, good to see that he is alive...
But would be greater to hear some really good news like reinvesting. Since bussines plan is no longer valid (now we have 600TH monthly increase instead worse case scenario 200TH) it would be nice to protect investors and put this mine to higher levels.

That is exactly what I wanna say.i think many investors have the same feeling.

[Dexter770221]

Yep, good to see that he is alive...
But would be greater to hear some really good news like reinvesting. Since bussines plan is no longer valid (now we have 600TH monthly increase instead worse case scenario 200TH) it would be nice to protect investors and put this mine to higher levels.

That is exactly what I wanna say.i think many investors have the same feeling.

Especially that is win-win situation. Tytus is a producer and a seller of this equipment. He may make profit twice. As a seller and as a shareholder of the mine. I think that Dave also would be happy to host that extra hashing power. Almost everything is already in place, it's just a matter to make a decision.
Bussiness plan predicted that competition will be lazy, it turns out that it will be VERY STRONG. Reinvesting in mine would be very helpful to stay on the surface...

[kaerf]

new solo mining address: https://blockchain.info/address/12grZHgemTNU9nRQqT2cU4rzoeXE7t61au

still no coinbase identifier though. Dave, are you guys using eloipool? I think it's just a matter of settting CoinbasePrefix in merklemaker.py.

[buzzdave]

new solo mining address: https://blockchain.info/address/12grZHgemTNU9nRQqT2cU4rzoeXE7t61au

still no coinbase identifier though. Dave, are you guys using eloipool? I think it's just a matter of settting CoinbasePrefix in merklemaker.py.

We did a little temporary config this weekend to get a better look at our block production.  When we send the coin generation direct to pico, it will show as 100TH.

While we are spinning up the first blocks and waiting for confirmations, there's been a delay getting coins flowing into pico again.  We should be pretty normalized by now.  Welcome to variance...

[kaerf]

Thanks for the update, Dave. Do you have any estimates on when we'll hit 100 and 200TH? I know you guys are working hard, but it's almost October and times a tickin'. I don't think investors would be as anxious if this was a reinvesting mine, but since it's a fixed rate mine, profits are fading fast and timing is of the essence....(we're up for another big difficulty jump in a few hours)

[buzzdave]

Thanks for the update, Dave. Do you have any estimates on when we'll hit 100 and 200TH? I know you guys are working hard, but it's almost October and times a tickin'. I don't think investors would be as anxious if this was a reinvesting mine, but since it's a fixed rate mine, profits are fading fast and timing is of the essence....(we're up for another big difficulty jump in a few hours)

We are optimizing rigs now, which is slow, but gives the potential for at least 10 - 15TH across the mine.  Meanwhile 35TH in hardware is on the way - this should put us solidly above 100TH.  Getting to 200TH will draw on the gear in production.  We had a 1 week-ish delay due to Chinese New Year, but I expect by the time we are done getting the 35TH up & running, we'll start to see more gear showing up.

Don't forget I only ever built out for 100TH, which I overbuilt to handle about 125TH.  I'm scrambling to support an additional 75TH, but at this point I don't see any problems getting there.

[tinyfox266]

Yep, good to see that he is alive...
But would be greater to hear some really good news like reinvesting. Since bussines plan is no longer valid (now we have 600TH monthly increase instead worse case scenario 200TH) it would be nice to protect investors and put this mine to higher levels.

That is exactly what I wanna say.i think many investors have the same feeling.

Especially that is win-win situation. Tytus is a producer and a seller of this equipment. He may make profit twice. As a seller and as a shareholder of the mine. I think that Dave also would be happy to host that extra hashing power. Almost everything is already in place, it's just a matter to make a decision.
Bussiness plan predicted that competition will be lazy, it turns out that it will be VERY STRONG. Reinvesting in mine would be very helpful to stay on the surface...

+1

[iCEBREAKER]

Thanks for the update, Dave. Do you have any estimates on when we'll hit 100 and 200TH? I know you guys are working hard, but it's almost October and times a tickin'. I don't think investors would be as anxious if this was a reinvesting mine, but since it's a fixed rate mine, profits are fading fast and timing is of the essence....(we're up for another big difficulty jump in a few hours)

We are optimizing rigs now, which is slow, but gives the potential for at least 10 - 15TH across the mine.  Meanwhile 35TH in hardware is on the way - this should put us solidly above 100TH.  Getting to 200TH will draw on the gear in production.  We had a 1 week-ish delay due to Chinese New Year, but I expect by the time we are done getting the 35TH up & running, we'll start to see more gear showing up.

Don't forget I only ever built out for 100TH, which I overbuilt to handle about 125TH.  I'm scrambling to support an additional 75TH, but at this point I don't see any problems getting there.

We need faster hardware when space becomes an issue in a month or two.

Sell Bitfuries, buy HashFasts.  Problem solved!

[Andrey]

We need faster hardware when space becomes an issue in a month or two.

Sell Bitfuries, buy HashFasts.  Problem solved!

Do they exist yet? Is there a 1 HashFast chip in the whole World?

[iCEBREAKER]

We need faster hardware when space becomes an issue in a month or two.

Sell Bitfuries, buy HashFasts.  Problem solved!

Do they exist yet? Is there a 1 HashFast chip in the whole World?

Yes, they do exist.  There are several hundred HashFast chips in the world.

HashFast will get the chips on the week of October 20th.

[Dexter770221]

new solo mining address: https://blockchain.info/address/12grZHgemTNU9nRQqT2cU4rzoeXE7t61au

still no coinbase identifier though. Dave, are you guys using eloipool? I think it's just a matter of settting CoinbasePrefix in merklemaker.py.

This address generated 251 BTC, paid 100 BTC to mine and holds 150 BTC, why it holds ?