[Announcement] Block Erupter USB

[phantastisch]

, but I'm more than willing to assume you'll lose a lot of US BTC users and adopters if they think BTC is more or less owned by a Chinese company.   

Hang on a minute. AM is a Chinese company? I thought it was a USA based company in mainland USA, but with chinese fabs?

If they ship from china then sctrach all my predicitions because if these USB miners are not sitting in a warehouse in the USA or Europe then they will take a month just to reach the wholesalers even if they ship them today!

I'm now positive not more than a handful of these will be live mining 1st week of June.

BTW, where is AM listed? A USA stock eschange? Small Caps? I just curious if they are paying dividends right now? Because if they are not I would not touch the stock with a bargepole. If BTC/USD price tanks their shares will be toast!

M

Not officially listed anywhere, 3 passthroughs exist , paying dividends every Wednesday, if price tanks not much will happen. IPO at 10$USD per BTC for over 100.000 USD$ , initial IPO-Price 0.1 BTC/Share, initial IPO-Price was paid back completely through dividends after in late march. 18 Th deployed and actively mining.

[John (John K.)]

, but I'm more than willing to assume you'll lose a lot of US BTC users and adopters if they think BTC is more or less owned by a Chinese company.   

Hang on a minute. AM is a Chinese company? I thought it was a USA based company in mainland USA, but with chinese fabs?

If they ship from china then sctrach all my predicitions because if these USB miners are not sitting in a warehouse in the USA or Europe then they will take a month just to reach the wholesalers even if they ship them today!

I'm now positive not more than a handful of these will be live mining 1st week of June.

BTW, where is AM listed? A USA stock eschange? Small Caps? I just curious if they are paying dividends right now? Because if they are not I would not touch the stock with a bargepole. If BTC/USD price tanks their shares will be toast!

M

Not officially listed anywhere, 3 passthroughs exist , paying dividends every Wednesday, if price tanks not much will happen. IPO at 10$USD per BTC for over 100.000 USD$ , initial IPO-Price 0.1 BTC/Share, initial IPO-Price was paid back completely through dividends after in late march. 18 Th deployed and actively mining.

Current hashrates here: https://docs.google.com/spreadsheet/ccc?key=0AkPdXsQFT-vIdHRVUjQ5Ql9BQWR6OENLMkhyUktUblE#gid=7

There is plans to up the hashrate to 262TH/s in the next 2-3 months, and this has held true so far. We were at 7-8TH not long ago. 

[markyminer]

Not officially listed anywhere, 3 passthroughs exist , paying dividends every Wednesday, if price tanks not much will happen. IPO at 10$USD per BTC for over 100.000 USD$ , initial IPO-Price 0.1 BTC/Share, initial IPO-Price was paid back completely through dividends after in late march. 18 Th deployed and actively mining.

So how do you sell you shares if they are not listed on any exchange? Privately via forums?  And how do you know what price to pay if you are buying them? Bid/ask spread must be huge!

M

[phantastisch]

Not officially listed anywhere, 3 passthroughs exist , paying dividends every Wednesday, if price tanks not much will happen. IPO at 10$USD per BTC for over 100.000 USD$ , initial IPO-Price 0.1 BTC/Share, initial IPO-Price was paid back completely through dividends after in late march. 18 Th deployed and actively mining.

So how do you sell you shares if they are not listed on any exchange? Privately via forums?  And how do you know what price to pay if you are buying them? Bid/ask spread must be huge!

M

privately or : https://bitfunder.com/asset/G.ASICMINER-PT or https://btct.co/security/ASICMINER-PT or https://bitfunder.com/asset/TAT.ASICMINER.

[markyminer]

, but I'm more than willing to assume you'll lose a lot of US BTC users and adopters if they think BTC is more or less owned by a Chinese company.   

Hang on a minute. AM is a Chinese company? I thought it was a USA based company in mainland USA, but with chinese fabs?

If they ship from china then sctrach all my predicitions because if these USB miners are not sitting in a warehouse in the USA or Europe then they will take a month just to reach the wholesalers even if they ship them today!

I'm now positive not more than a handful of these will be live mining 1st week of June.

BTW, where is AM listed? A USA stock eschange? Small Caps? I just curious if they are paying dividends right now? Because if they are not I would not touch the stock with a bargepole. If BTC/USD price tanks their shares will be toast!

M

Not officially listed anywhere, 3 passthroughs exist , paying dividends every Wednesday, if price tanks not much will happen. IPO at 10$USD per BTC for over 100.000 USD$ , initial IPO-Price 0.1 BTC/Share, initial IPO-Price was paid back completely through dividends after in late march. 18 Th deployed and actively mining.

Current hashrates here: https://docs.google.com/spreadsheet/ccc?key=0AkPdXsQFT-vIdHRVUjQ5Ql9BQWR6OENLMkhyUktUblE#gid=7

There is plans to up the hashrate to 262TH/s in the next 2-3 months, and this has held true so far. We were at 7-8TH not long ago. 

And you have people here quing up to pay 2BTC for a 300m/h machine when the seller is openly telling them that they plan to more than quadruple the current network hash rate over the next 2-3 months.

Man there are some stupid people here?

M

[jspielberg]

Not stupid.... Uninformed of the realities.   The smart money would be to buy AM shares with those two BTC while they are currently down. I'm not that smart though.

[lophie]

Longer ROI, some people are just okay with it!, Especially those who don't pay for electricity  , Besides some just want one as souvenir. I know if I could I would buy one just to show the people "Yup, I invested in the awesome people who made this"

[Xian01]

privately or : https://bitfunder.com/asset/G.ASICMINER-PT or https://btct.co/security/ASICMINER-PT or https://bitfunder.com/asset/TAT.ASICMINER.

 Thanks for posting these links. I did not have the foresight to get involved in the AM IPO or get involved with the Bitcoin stock-market at all.

 If I understand correctly, if I go to Bitfunder.com and buy 100 shares of G.ASICMINER-PT, I will then own 100 shares stored at Bitfunder, and they will pay me the dividends in my account that I can then withdraw to my wallet ?

[muyuu]

Not stupid.... Uninformed of the realities.   The smart money would be to buy AM shares with those two BTC while they are currently down. I'm not that smart though.

I'd have bought AM shares if they were really for sale, but they're not. You don't get a contract directly with AM any more, or at least not last time I checked. You need to trust a couple extra "layers".

If difficulty is going up so much, you're better off getting some coins at this price.

[markyminer]

Longer ROI, some people are just okay with it!, Especially those who don't pay for electricity  , Besides some just want one as souvenir. I know if I could I would buy one just to show the people "Yup, I invested in the awesome people who made this"

You will never make an ROI unless BTC rises to $200 in the next few months or $1000 in the next few years!

forcast says in 3 years time network difficulty will be over 1000 million (10 million today) an this USB miner will earn less than 0.0001 btc a day.

M

[velacreations]

I'd have bought AM shares if they were really for sale, but they're not. You don't get a contract directly with AM any more, or at least not last time I checked. You need to trust a couple extra "layers".

you can buy shares through auctions in this forum.  They are a direct shares.  But, I don't see the point of direct shares, and typically, bitfunder is .1-.3 btc cheaper per share than direct shares.  They all get the same dividends, and I have no reason not to trust the PTs.

Additionally, you can convert PT shares to direct shares, if you want.

[reactor]

Current hashrates here: https://docs.google.com/spreadsheet/ccc?key=0AkPdXsQFT-vIdHRVUjQ5Ql9BQWR6OENLMkhyUktUblE#gid=7

There is plans to up the hashrate to 262TH/s in the next 2-3 months, and this has held true so far. We were at 7-8TH not long ago. 

Point proven.  We're going to 4x the network, meaning our 300 stick is effectively a 75 stick in all reality.  And at 1.99BTC, what a steal!

Time to theorize, a bit.

This also means AM, with that deployment, would blow through the 51% wall, BTC would be insecure, and we should all jump ship before these ambitious upstarts take over.  And there is no "but competitors will be bringing X to market" argument since nobody has proven the ability to deploy anything that counters the hardware that AM will presumably be sitting on.  Which effectively means AM can and/or will selectively maintain an absurd lead mining (not hardware production, but mining) for as long as they please or until a competitor proves its worth.  Still meaning that, much like the folks on BTCGuild, we're currently all on AM's network.  And they're just getting rich off this sh*t.

[velacreations]

Still meaning that, much like the folks on BTCGuild, we're currently all on AM's network.  And they're just getting rich off this sh*t.

which means that now is a good time to buy shares...

[markyminer]

Still meaning that, much like the folks on BTCGuild, we're currently all on AM's network.  And they're just getting rich off this sh*t.

which means that now is a good time to buy shares...

If I was a shareholder I would want to know why the powers that be @ AM are mining in the BTCguild pool paying (wasting) a 7.5% fee, when they they have enough T/H power to mine solo and keep all fees and block rewards for shareholders.

Surely giving away 7.5% of profits and mining "fees" to a third party is crazy?

M

[reactor]

They mine PPLNS, 1.5% fee and averages higher payout than PPS.  They're smart capitalists.

[HowGudAmI]

They mine PPLNS, 1.5% fee and averages higher payout than PPS.  They're smart capitalists.

So their pool gives them more BTC than they would otherwise gain mining solo?

How is this in the pools interest?

(Not fully read up on mining so forgive if the question is dumb)

[reactor]

Solo mining is just dumb luck, pooled mining ensures you get paid.  Joy of PPS, no matter how many blocks the pool finds you get paid, but it is riskier (hence hefty fees).  PPLNS means you get paid based on your shares / total shares of found blocks combined value, but since BTCGuild usually does well PPLNS has been a long-term good bet.

Solo has a good chance of finding blocks (for AM, anyway, since they are bigger than most pools), but for investment sakes a pool somewhat guarantees the income.  Plus they seem to have the best luck on BTCGuild (I know I do, next to Bitparking), so they're basically using BTCGuild as a stratum PPLNS server for their mining operation.

[PeZ]

Aren't you concerned that people will wake up to the reality of the situation and cause Bitcoin to collapse and be replaced?

[Xian01]

...since BTCGuild usually does well PPLNS has been a long-term good bet... they're basically using BTCGuild as a stratum PPLNS server for their mining operation.

 So are saying we should all switch to BTCGuild and mine PPLNS because it's the best game in town ?

[velacreations]

If I was a shareholder I would want to know why the powers that be @ AM are mining in the BTCguild pool paying (wasting) a 7.5% fee, when they they have enough T/H power to mine solo and keep all fees and block rewards for shareholders.

Surely giving away 7.5% of profits and mining "fees" to a third party is crazy?

Now that they have so much TH, the plan is to go solo in the next few weeks.