[LTC-GLOBAL] CIPHERMINE Industrial Cryptocoin Mining & High Perf. Computing

[leek_rs]

We are not in the business of cryptocoin speculation. We mine whichever coin is the most profitable at any point.

Hi Kate,

I'm really looking forward to seeing the things you do with Ciphermine. Here's a new mining dashboard you might be interested in.

http://thegenesisblock.com/tgb-launches-bitcoin-mining-dashboard/

[woodrake]

Very impressive Kate, your business plan  blew me away, 
you have certainly set a standard.

bravo! 

definitely watching this space

Thank you.

Kate.

[woodrake]

I'm really looking forward to seeing the things you do with Ciphermine. Here's a new mining dashboard you might be interested in.

http://thegenesisblock.com/tgb-launches-bitcoin-mining-dashboard/

That does look interesting! We plan to show live hashrates on ciphermine.com in the near future (we already centrally monitor them) and something like that could tie in quite nicely.

Once we've got some of the pressing jobs of our todo list I'll revisit this, thanks.

Kate.

[OgonDark]

Hi, I have a question or two regarding the recent announcement that Smidge.com and Ciphermine have made a share swap.

What were the terms of this deal?  


Did this come out of shareholder equity?


Was it done on a 1:1 basis with an assumed value of 0.02 BTC for Smidge.com shares?  (the IPO price indicated for Smidge)


Thanks



edit:  Also, maybe just a general question.  Why did you think this was a good deal and how does it advance the interests of Ciphermine shareholders?

[iCEBREAKER]

Ciphermine's first Avalon is up and running!  XPM are flowing!   

I like very much the strategy of reinvesting 50% + depreciation.  AFAIK, that's by far the most aggressive growth fund of any mining firm.

Dear All,

This week has been pretty good thanks mainly to continued excellent productivity from the XPM-mining VM grid and the addition of our first 80GH/s Avalon miner. We are still waiting for the second 80GH/s unit however which is frustrating; I am placing a time-limit on the deal of the end of next week rather than allow our funds to languish in John K's hands too long! My expectation is therefore that we will have a second Avalon 80 GH/s unit within a fortnight.

Anyway, over the last week we generated EUR 941, of which EUR 653 is profit. EUR 452 is going into the hardware reinvestment fund (50% of profit + depreciation). The remaining EUR 327 has been distributed as dividends.

There was some left over in the hardware fund from the funding rounds and the personal shares I decided to sell for more hardware, and the total is now enough to buy a second 400 GH/s KNC miner, so I've gone ahead and done that today. Although it would be nice to get another 80 GH/s Avalon immediately, their long-term ROI is questionable in the face of the KNC and BitFury devices (also we would not have enough to buy another 80GH/s avalon for several weeks anyway). This also spreads our risk around a little more.

Kate.

[rammy2k2]

i'm joining this one too, i trust evilscoop 101%

[Duffer1]

XPM are flowing!

I wish the XPMs mined could be 'bought' with the reinvestment fund @ current market and held by Ciphermine for a couple months.  I expect significant XPM value appreciation.  Dumping them now feels like an overall loss for everyone.

Edit:
Also available this month http://alydian.co/ (got $350k layin around Kate?  )

[iCEBREAKER]

XPM are flowing!

I wish the XPMs mined could be 'bought' with the reinvestment fund @ current market and held by Ciphermine for a couple months.  I expect significant XPM value appreciation.  Dumping them now feels like an overall loss for everyone.

Agree, but it's Kate's call and I like investing in a panoply of approaches representing the investment strategies of several unique, outstanding individuals.

If you want to be long XPM, buy&hold them yourself, like me!   

[forensick]

XPM are flowing!

I wish the XPMs mined could be 'bought' with the reinvestment fund @ current market and held by Ciphermine for a couple months.  I expect significant XPM value appreciation.  Dumping them now feels like an overall loss for everyone.

Agree, but it's Kate's call and I like investing in a panoply of approaches representing the investment strategies of several unique, outstanding individuals.

If you want to be long XPM, buy&hold them yourself, like me!   

where is the best place to trade XPM? I use vircurex, but liquidity is not very shiny

[iCEBREAKER]

where is the best place to trade XPM? I use vircurex, but liquidity is not very shiny

http://www.cryptocoincharts.info/#jump-xpm-btc

[forensick]

where is the best place to trade XPM? I use vircurex, but liquidity is not very shiny

http://www.cryptocoincharts.info/#jump-xpm-btc

thanx

[iCEBREAKER]

CiPHERMiNE's second Avalon is now happily hashing.   

FYI we have created a CipherMine team on BTC Guild. At present our ranking is just outside the top 25 (we need >193 GHs to get in that list) but won't be long!

Our SHA256 hashrate is currently 163 GH/s; we're getting 80 from the batch 3 Avalon, 70 from the batch 1 Avalon (we didn't have time to upgrade it's firmware before the weekend and everyone is busy until Monday), and the rest from FPGAs. We have about half the FPGAs offline again while Simon builds a new case for them. This is costing us some money but it is important since we are figuring out how to make the rigs all rack-mountable ahead of moving them into the new data centre (at present they are not in racks, just on shelves). We also want to be able to scale up if necessary with the plan to rent out FPGA hardware.

Kate.

[rammy2k2]

i'm in with a few shares 

[woodrake]

XPM are flowing!

I wish the XPMs mined could be 'bought' with the reinvestment fund @ current market and held by Ciphermine for a couple months.  I expect significant XPM value appreciation.  Dumping them now feels like an overall loss for everyone.

CryptoCoin speculation is not our business; mining is. Shareholders should feel free to invest their dividends wherever they like but that's not what CipherMine is about. While you may believe they will go up in price there is no surety; if there was the market would have accounted for it.

However, since XPM are proving profitable we are putting effort into ensuring we maximise their production. We are in a beta for a GPU XPM miner also.

That said, we are exploring the possibilty of an automated alt-cryptocurrency trading system.

Also available this month http://alydian.co/ (got $350k layin around Kate?  )

$65/GHs? I don't think so. While I might be up for frittering away that much on the odd 80GHs avalon, I'd not want to risk the potential for difficulty to skyrocket making an expensive solution like that unprofitable. We can afford to wait another couple of months and get close to $10/GHs.

If we had that amount of cash to spend we'd integrate our own hardware anyway, and that is still potentially on the cards. I'm painfully aware that our ASIC suppliers are making a killing out of us - costs that could potentially be saved.

Kate.

[iCEBREAKER]

Hi Woodtec!

Very excited to hear about the beta XPMGPU proggy.

Can you set ye olde boffin squad to configuring the FPGAs for XPM?

Perhaps a CPU/GPU/FPGA Frankenminer is the solution?
 
If you need a math PHD, LMK and I'll dispatch a ringer.   

[woodrake]

Very excited to hear about the beta XPMGPU proggy.

Can you set ye olde boffin squad to configuring the FPGAs for XPM?

Perhaps a CPU/GPU/FPGA Frankenminer is the solution?

At this time we're focusing on scrypt FPGAs. I'm not sure how much of a performance boost we'd actually get from using FPGAs for prime mining though it is an interesting idea! The challenge with XPM is that we have no surety of its future value. At least with scrypt we can be fairly sure that there will be profitable scrypt coins to mine indefinitely.

We actually mainly like XPM because it is hard to mine with things other than CPUs. We have an abundance of CPU resources we can deploy. In antitipation of XPM difficulty rising as GPU miners get in on the action we are also exploring MemoryCoin on our VM grids.

If you need a math PHD, LMK and I'll dispatch a ringer.   

Hehe, I'll keep it in mind!

Kate.

[Exocyst]

Why is CIPHERMINE in decline?


programs to take screenshots

It's even worse (in terms of BTC value) when you consider that LTC/BTC price is in decline, too.

CIPHERMINE doesn't specifically mine Litecoin, and in fact, has many BTC ASIC miners on order (and some deployed); therefore, shouldn't CIPHERMINE's value be going up when LTC/BTC goes down? Are investors pulling out of CIPHERMINE because of the drop in Litecoin value (and they want their BTC back)?

Good time to buy or solid security in a dying marketplace (LTC-GLOBAL) denominated in an alt-coin in long-term decline?

Are there contingency plans to move CIPHERMINE over to a BTC-denominated marketplace in case LTC-GLOBAL and/or litecoin go belly up?

[TheSwede75]

Why is CIPHERMINE in decline?


programs to take screenshots

It's even worse (in terms of BTC value) when you consider that LTC/BTC price is in decline, too.

CIPHERMINE doesn't specifically mine Litecoin, and in fact, has many BTC ASIC miners on order (and some deployed); therefore, shouldn't CIPHERMINE's value be going up when LTC/BTC goes down? Are investors pulling out of CIPHERMINE because of the drop in Litecoin value (and they want their BTC back)?

Good time to buy or solid security in a dying marketplace (LTC-GLOBAL) denominated in an alt-coin in long-term decline?

Are there contingency plans to move CIPHERMINE over to a BTC-denominated marketplace in case LTC-GLOBAL and/or litecoin go belly up?

LTC-GLOBAL going belly up? Yeah, they only made a 20.000 LTC+ Profit last month.

[Exocyst]

LTC-GLOBAL going belly up? Yeah, they only made a 20.000 LTC+ Profit last month.

Swede75,

1st, Please don't quote images. 2nd, I'm simply asking for CIPHERMINE's strategy in that scenario. If you look at LTC-GLOBAL's income sheet, most of the revenue comes from BTC-TC, so I think there is a very real possibility the litecoin side of their business drying up if the Litecoin value slide continued indefinitely. The trade volume on litecoinglobal exchange is abysmal.

The point I am trying to make is I believe the company's share price is being de-valued by people pulling out of CIPHERMINE and the litecoinglobal exchange to avoid Litecoin value loss (when in fact, the price should be going up given that revenues are not dependent on litecoin's value). This is not a worry for shareholders in the long term so long as there are contingencies to move the shares to another marketplace if litecoin's become valueless or another altcoin supplants litecoin as the most stable and high valued alt-coin.

[Duffer1]

Why is CIPHERMINE in decline?

It's even worse (in terms of BTC value) when you consider that LTC/BTC price is in decline, too.

CIPHERMINE doesn't specifically mine Litecoin, and in fact, has many BTC ASIC miners on order (and some deployed); therefore, shouldn't CIPHERMINE's value be going up when LTC/BTC goes down?  Are investors pulling out of CIPHERMINE because of the drop in Litecoin value (and they want their BTC back)?

Low divs until middle of next month according to business plan, but that was expected since that is part of the plan.  I don't see why the price is dropping now...  2.5L per share is a steal considering the hardware they have on order.  I think it was one whale cashing out in a shallow buy book, and the low expected divs over the next few weeks is causing a very slow rebound.

Good time to buy or solid security in a dying marketplace (LTC-GLOBAL) denominated in an alt-coin in long-term decline?

Are there contingency plans to move CIPHERMINE over to a BTC-denominated marketplace in case LTC-GLOBAL and/or litecoin go belly up?

There was talk of a BTCTCT PT (hehe).  It's somewhere in here https://forum.litecoin.net/index.php/topic,4582.0.html