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

[hasher87]

https://www.kncminer.com/news/news-30

now buy my shares! 

Good news indeed!! But are you selling?? You should be buying if anything

not really lol

tho i already bought some when the price was 0.009 so combine with day 2 stock, i should have 1000 shares waiting for me 

[1715278490]

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[1715278490]

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[1715278490]

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[kuriboh]

what a great news!!!

I'm really excited with this GB.

And I recommend you to hold the shares (or sell it to me at a really low price xD)

[hasher87]

"( The controller board also has and expansion for additional linux devices for future upgrade/ second generation)"

so can we expect, at some points, our dividend to be hold once to upgrade the chip to second generation for a better hashrate?

[tyrion70]

"( The controller board also has and expansion for additional linux devices for future upgrade/ second generation)"

so can we expect, at some points, our dividend to be hold once to upgrade the chip to second generation for a better hashrate?

Hey, good question! In order to make addiction a long-term succes we have to think about a reinvestment policy yeah. We're not sure how we are going to do that but keeping a part of the dividends to expand is certainly an option. We'll see when we get there I guess We'll keep in close contact with KnC so we know if and when we can upgrade..

PS Guys, if you haven't checked it out, please take a look at our investment fund idea here:
https://bitcointalk.org/index.php?topic=277191.0

Cheers!

[hasher87]

"( The controller board also has and expansion for additional linux devices for future upgrade/ second generation)"

so can we expect, at some points, our dividend to be hold once to upgrade the chip to second generation for a better hashrate?

Hey, good question! In order to make addiction a long-term succes we have to think about a reinvestment policy yeah. We're not sure how we are going to do that but keeping a part of the dividends to expand is certainly an option. We'll see when we get there I guess We'll keep in close contact with KnC so we know if and when we can upgrade..

PS Guys, if you haven't checked it out, please take a look at our investment fund idea here:
https://bitcointalk.org/index.php?topic=277191.0

Cheers!

for starters, it would be great for the first 2 dividends to be given out 100% for a quick ROI to the investors, then after that you could keep a certain percentage of it for the reinvestment policy

[kuriboh]

In the speculation side:

Which price do you think the IPO will reach when the first dividends come out?
And when do you think the miners will be hashing?

[hasher87]

In the speculation side:

Which price do you think the IPO will reach when the first dividends come out?
And when do you think the miners will be hashing?

based on the next difficulty, which is 66m, as well as the date it should start hashing which is on the 1st september, God willingly  

for a 32mhash per share, and the dividends to be given out once in 2 weeks

approximately 1 share (last price 0.0101) = 0.0034

EDIT: the started IPO price is approx 0.004 fyi =)

[tyrion70]

In the speculation side:

Which price do you think the IPO will reach when the first dividends come out?
And when do you think the miners will be hashing?

based on the next difficulty, which is 66m, as well as the date it should start hashing which is on the 1st september, God willingly  

for a 32mhash per share, and the dividends to be given out once in 2 weeks

approximately 1 share (last price 0.0101) = 0.0034

EDIT: the started IPO price is approx 0.004 fyi =)

KnC said they'll deliver in september, I'm not sure that's going to be the first

But with a 66M difficulty dividend will be a slightly lower due to the fact that the initial costs are deducted from that dividend (and normal running costs ofcourse). We're waiting for KnC information on the power supplies so we can order them. Numbers are definately looking good however..

[maqifrnswa]

"( The controller board also has and expansion for additional linux devices for future upgrade/ second generation)"

so can we expect, at some points, our dividend to be hold once to upgrade the chip to second generation for a better hashrate?

Hey, good question! In order to make addiction a long-term succes we have to think about a reinvestment policy yeah. We're not sure how we are going to do that but keeping a part of the dividends to expand is certainly an option. We'll see when we get there I guess We'll keep in close contact with KnC so we know if and when we can upgrade..

PS Guys, if you haven't checked it out, please take a look at our investment fund idea here:
https://bitcointalk.org/index.php?topic=277191.0

Cheers!

I vote a huge and tremendous NO (as loud as I can!) to mandatory reinvestment of dividends.

1) It was a group buy, individual share holders should choose how much they are willing to reinvest and how.
2) Network growth rate and product offerins is unpredictable, and an arbitrarily chosen reinvestment rate may not be enough to keep up with growth. In that case, no reinvestment and the ability to cash out without losing money on investing on more hardware will be impossible.
3) It will destroy the known value of ADDICTION (and replace it with pure speculation) -- reinvestment are not transparent and there is no investor control, it's hard to valuate shares
4) there are "managed group buys" (LabRat, Nasty, IceDrill) that do mandatory reinvestment. ADDICTION is a different offering in that you can choose how much reinvestment there is and what to buy next. Don't turn this "true" group buy into a "managed" group buy. This is one of the reasons I like it so much, you put the power back in the hands of investors.
5) you know longer let the market choose what a viable investment is and instead force them on investors.

I vote a loud YES to keep on doing what you're good and unique at!

1) Offer group buys, raise funds and buy equipment, and distribute shares so that the hash rate of individual shares stays the same. (I believe this is actually what you say you will do on the description in bitfunder)
1a) offer group buys of diversified hardware -- you can expand beyond KNC and it still works with your model.
2) People can reinvest and buy more shares on bitfunder with their dividends as they need to see fit.

Yes, share valuation and dividend per share will continually decrease, but more shares will be made available so market cap and total dividends will constant if you keep a constant share of the network. If you have too many small shares outstanding, see if bitfunder can do a reverse-split.

As bitcoin securities go, I'd love to see ADDICTION be the (only?) offering that follows this model -- I think the other models introduce unnecessary risk that can reduce or destroy profit.

[tyrion70]

Duly noted!

Rest assured we won't just start reinvestment in any other way than currently possible (ie, buy more hardware). The current IPO agreement doesn't allow anything else actually.

However the point raised by hasher was one where KnC might offer an upgrade package. In that particular case we'll have to see how we handle that. We can sell shares on the upgrade "groupbuy style" and add them according to the extra hashrate afforded or something like that.. We'll just have to see what KnC comes up with

Cheers,

[hasher87]

We can sell shares on the upgrade "groupbuy style" and add them according to the extra hashrate afforded or something like that.. We'll just have to see what KnC comes up with

this could be a good alternative way as well, i for one agree with this methodology though

[Vedran Yoweri]

The potential for 30% overclocking would make the  ~32MHs something like ~41.6MHs. Should be nice.

[hasher87]

The potential for 30% overclocking would make the  ~32MHs something like ~41.6MHs. Should be nice.

at that rate, including my future share to come, it jumps from 40ghash to 52ghash!  

[tyrion70]

Hey Everyone,

September has started! Within a few weeks we should be hashing away with our Jupiters.

This post serves a few reasons. We now have information spread out over 4 different topics as well as bitfunder as well as the blog (which hasn't been updated recently ). When hashing starts we will post the updates only on bitfunder and the blog. Feel free to discuss it here or in any topic of course

Just in case: The blog is located on
http://p2pool.nl/blog/

Second, we've secured our PSU's. We just got word from our datacenter that they have arrived with DHL:





We've chosen the Seasonic M12II 850W 80+ Bronze as our PSU of choice. This PSU more than meets KnCs requirements and we are positive that even if performance exceeds current expectations this PSU will still more than hold up.

As soon as we receive word on final delivery we'll let you know!

Cheers,
BlastBob & Tyrion70

[bobboooiie]

Nice update, this might be the first security ever to be hashing with 28nm technology!

[blastbob]

Nice update, this might be the first security ever to be hashing with 28nm technology!

We got this on standby..



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[btceic]

Jupiter==500GH/s


http://forum.kncminer.com/forum/main-category/hardware/107-psu-recommendation-jupiter-the-largest-planet/page4

As some have stated above, having a margin on the energy consumption does reduce the risk of over heating and increase the efficiency of the PSU (at an increased cost for purchase). But you can opt for two 600W PSUs instead of a 1200 PSU or some other combination. According to our engineers an 850W, 80+ Gold certified PSU should be enough for a Jupiter running at the expected speed of 500 GH/s.

[kuriboh]

You forgot to post this btceic:

Hi all,

We have added some product photos to our shop you can see them here, https://www.kncminer.com/categories/miners

The top cover has only been removed in the photos so you can see inside, A top cover will be installed before they are shipped don't worry.

Sam

http://forum.kncminer.com/forum/news-and-anouncments/1088-product-photos#post1088


Very exciting news, we are so close!!!

[hasher87]

You forgot to post this btceic:

Hi all,

We have added some product photos to our shop you can see them here, https://www.kncminer.com/categories/miners

The top cover has only been removed in the photos so you can see inside, A top cover will be installed before they are shipped don't worry.

Sam

http://forum.kncminer.com/forum/news-and-anouncments/1088-product-photos#post1088


Very exciting news, we are so close!!!

its mid-september now, hope they deliver it soon before the difficulty went skyrocket!

or rather a 500gh would be a good compensation. more hash!

[btceic]

KNC setting up the datacentre:

That's Sam right there on the left:




Sam again: