[BitFunder] - ADDICTION - KNCMiner - Now hashing at 14+TH!

[ewibit]

can i still convert my existing bitfunder shares into direct shares?

@tyrion70
what to do with the shares if some-(or every)body will leave Bitfunder?
any way to direct shares?

[1715223176]

1715223176

[1715223176]

1715223176

[1715223176]

1715223176

[1715223176]

1715223176

[hasher87]

I'm looking to sell my remaining 2500 shares (that's 100ghash in total [40mhash * 2500])  for the US buyer, ready to transfer specifically on the 11th November, due to the fact that I've an order pending for payment soon and I'm in need to convert those to fiats. For those who are interested, you may PM me directly to talk about the price

Pricewise should be lower than CEX are offering

For the transaction, we can have Tyrion70/Blastbob as a middleman if that's ok

Price/share?

sold all of it. sadly i kinda need it sooner rather than later

anyway, if there's another groupbuy for a new GEN2 machine with better hashrate/price in the future, ADDICTION would definitely be my top choice 

[tyrion70]

Hey guys,

Short update.

We've updated part of the miners to the 0.98 firmware. It does seem to run a little smoother than the older firmware but so far no spectacular differences.

We've processed all transfers to private shares so far. The latest list including GB2 and GB3 private shares can be found here:
http://pastebin.com/KyYnEMZQ

You can still request a transfer to private shares. To do this transfer your shares to the ADDICTION account on bitfunder and send an email to p2poolnl@gmail.com containing:
- Your bitfunder name
- The number of shares transferred
- The BTC address you want to use for payouts. Make sure you use an address you actually own and can sign messages with!

With regards to verification on weexchange and bitfunder it is our understanding that those who are not verified by December 1st will have their shares transferred to us automatically. What we are not sure of is what information we will receive at that point. Possible only the public BTC address you filled in on bitfunder.

We've checked the current list of shareholders on bitfunder and we see that some people have used non-valid btc addresses like:
empty
635a91d71c72e64f2be449065407ac59b213eb127b279 and
1aa064c8-23fe-4292-b48c-edea42d678d7

We strongly advise people that will not be verified to follow above procedure to transfer their shares to private shares and not wait for December 1st to have it done automatically. December 1st is a Sunday and dividend day so we won't really enjoy having to process a lot of transfers on that day.

Also if you are verified please ensure to check your bitfunder btc address. If Bitfunder ever shuts down completely the asset list is the only way for us to pay dividends. If your address there is wrong or you can't sign with it there is nothing we can do for you.

We think we've covered most of the latest questions above. If you still have questions please let us know

Cheers,

[hasher87]

after 5 days of period, addiction has managed to mine 85btc only, as opposed during the first/second week, where it managed to accumulate up to 150btc at this days

them difficulties 

[philipma1957]

Allright dividend time!

Total mined btc this week: 182.3538877. The last difficulty raise caused us to mine only 30 btc in two days as opposed to ~27-28 per day the days before that.

As said last week we'll deduct the remaining one-time costs this week and next week. This week we'll deduct ~2/3rd of the remaining 72.50701867. Thats 47.50701867 btc (leaving 25btc for next week).

Hosting cost for last week are 10.16129032 btc. We pay hosting costs each week up-front so this amount will change each week as btc/eur price changes.

That leaves for dividends: 124.6855787.

Since all shares have been destributed we will not use the old GB shares anymore but only the bitfunder ones (in numbers). In bitfunder terms there are 27*12400 = 334800 shares.

Currently there are 69572 direct shares and 265228 shares on bitfunder.

Dividend per share = 0.00037241 btc.

Dividends will be payed in the coming few minutes.

Cheers

EDIT: latest list of direct shares, now complete with GB2 and GB3 direct shares: http://pastebin.com/7aEjmQqd

SO we are nearing dividends.  we earned 134 btc

https://blockchain.info/address/1AddiCt8ghkH8zwPpcv8W8SxcQEoGTSJFS


minus 25 btc = 109 btc minus 10 btc for power = 99 btc  divide by 334800 shares = .000295698  


 I have 1250 shares   so I would get close to .37 btc this week.


the .00295698  a share is close but I would think it will be a little higher. we should earn a few more coins in the next 6 -12 hours.


 last week it was .0037241 a share.

   this buy has been okay   run well and in terms of usd (which is how my tax return is done) it looks like it will turn a profit by years end.

 in terms of BTC it will take longer.  thank you to the runners of this buy. bob and tyrion

[hasher87]

^probably good for those who managed to sell all of their shares when the price was up to 0.007-0.01 and then buy it again at the 0.0025 price point..

yup, sucks to those who didn't opt for the bitfunder and stay with direct shares at the first place

[philipma1957]

^probably good for those who managed to sell all of their shares when the price was up to 0.007-0.01 and then buy it again at the 0.0025 price point..

yup, sucks to those who didn't opt for the bitfunder and stay with direct shares at the first place

WELL bitfunders timing really hurt usa guys like me.


 I did a usd cash calc  which for tax purposes would be correct I purchased   1250 shares at 771 usd back in  June 2012.

 my return as of today's btc price need to be 3.73btc.  to break even .  this will be close to that when all is said and done.

 I think my gain will be a bit over 150 usd .  Which would be 20 percent .

[tyrion70]

Dividend day!

Philip made an accurate prediction

Mined coins on which dividend this week is based:
142.17492165

Remaining one-time costs: 25 BTC
Hosting this week: 9.03451387

Dividend: 108.1404078
Dividend per share: 0.000323

Total shares on bitfunder: 151136
Direct shares: 183664
Total shares: 334800

Last list of direct shares: http://pastebin.com/X1kAcsaa

Direct share dividend has been payed in transaction 157f0f7ef12f1668c6603502162687a2b16fde6fed4e4c49888064753d507823
Bitfunder shares have been payed as well. The costs will be transferred as soon as the coins mature (need 120 confirmations )

Important note, there are still invalid addresses in the bitfunder asset list: https://bitfunder.com/assetlist
Please ensure to update your address if you use bitfunder! The address should be one you own and can sign with!

Cheers,

[btceic]

Received mine, thanks tyrion70 and blastbob, your doing a great job as always!

[twisty317]

Thanks Tyrion and Blastbob Doing a great jorb 

[philipma1957]

thank you and I am a little bit closer to break even.

[hasher87]

awesome job as always you guys

any future plan for the next gen KNC group buy next year? by all means this could be in the next 6 months or so

[Dabs]

It would seem that divs would continue being less each week. Anyone got a prediction on total divs for this month and next (until end of the year)?

[hasher87]

It would seem that divs would continue being less each week. Anyone got a prediction on total divs for this month and next (until end of the year)?

right now, we got 142.17492165btc mined for this week, compared to last week's 182.3538877.

lets say each week, the total dividend is reduced to 30-40btc in a week, with difficulty approaching 505,047,727, probably more

assuming that the hosting fee is 10btc each week, and worst case scenario next week's total mined is 110btc due to rising difficulty, so the dividend would be 100btc

consequential week:

10th Nov = 100btc/334800 =  0.000298 per share

17th Nov = 80btc/334800 =  0.000238949 per share

24th Nov = 60btc/334800 =  0.000179211 per share

1st Dec = 40btc/334800 =  0.000119474 per share

8th Dec = 20btc/334800 =  0.000059737157 per share

15th Dec = 10btc/334800 =  0.000029868578 per share

depending on when you bought your shares, i bought all of mine when the price was 0.006 (BAD TIMING) so the ROI would be on the 15th Dec

but if you were to buy it now at the price of 0.002, your ROI would be very unlikely because you've missed out the first 3-4 dividends. I even thought of buying it again with my 0.5btc, but then i realised there's now way i'll get that money back, so might as well holding it

I sold all of my previous shares due to my own prediction that i've made which is close enough to above but i didn't post it here, well at least i got to purchase my stuff (PS4 + R9 280x)

PS:this is just my prediction btw, do not take this seriously

[Dabs]

So, according to your estimate, the total until the end of the year is 0.00092524 per share. I'm supposed to get a little bit under a bitcoin with my share count. Not bad, but not ROI in terms of BTC. Just ROI in terms of fiat equivalent (due to BTC value rising.)

If I had held onto the coins .... if if if. Oh well. At least it's something.

[utens]

Also what about the liquidation? I think at some point ( not that distant in future)  selling all the hardware will be much better than mining ( also will eliminate the hosting cost)  and have to potential to be in terms of about 0.001 btc per share

[hasher87]

Just ROI in terms of fiat equivalent (due to BTC value rising.)

the only good thing that ever happened is this 

[Dabs]

Also what about the liquidation? I think at some point ( not that distant in future)  selling all the hardware will be much better than mining ( also will eliminate the hosting cost)  and have to potential to be in terms of about 0.001 btc per share

Who is going to buy a "useless" miner? Unless they buy it to mine for a SHA256 based alt-coin.

[utens]

Also what about the liquidation? I think at some point ( not that distant in future)  selling all the hardware will be much better than mining ( also will eliminate the hosting cost)  and have to potential to be in terms of about 0.001 btc per share

Who is going to buy a "useless" miner? Unless they buy it to mine for a SHA256 based alt-coin.

Knc are selling  5k usd jupiter for november shipping,  thats about 25 btc.

If they liquidate at the end of november why cant they sell at 15 btc each? 28 miners in total

[Dabs]

Oh, that is interesting.

15 BTC * 28 = 420 / 334800 = 0.00125 per share.
20 BTC * 28 = 560 / 334800 = 0.00167 per share.

But then people might object since some are waiting for full ROI, and once the miners are sold, that's it.