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

[btceic]

This weeks payout looks to be around 20 btc minus fees.

From a business perspective, I think we should seriously look into closing the group buy, sell all assets and take a last final payday.

I have loved this group buy and wish it could continue but I think our ROI on mining vs selling the miners is coming to a crossroads.

Does anybody have any recent numbers on what we could sell each miner for?

[bitcoinmiami]

I agree with the above post. Thats why I sold my shares yesterday...

[btceic]

I agree with the above post. Thats why I sold my shares yesterday...

What price per share did you end up with?

[bitcoinmiami]

.0007..

[nucleon]

Eligius has been in 'safe mode' for a few days and no stats are updating.

According to bitcoin calculators we should be closer to 28BTC this week before expenses.

I'm happy either way, we have multiple units. So it would be quite easy to sell 1-2 to test market.

For me the critical point is when revenue is 2x expenses. At that point, it becomes obvious it's time to initiate shutdown and sell remaining assets.

We're still a long way from that.

I think we won't see the rise we saw before xmas. I think the days of seeing a double of difficulty in a month are behind us. I think once Cointerra roll out is completed, the crazy difficulty increases will be a little modest. I don't even see KNC Neptune making all that much of a dint now.

Also, it's real hard to find other BTC revenue streams atm (reasonably priced).

(BTW I'm happy to be proven wrong)

-- Craig

[maqifrnswa]

If you want to sell miners, there is a mechanism for that. Sell your shares.

I think there is no reason to liquidate unless tyrion can find a better deal than the market rate for shares.

Edit: you can sell for $12000 usd or $18/ GH/s our shares trade at 14.23 per GH/s. So selling hardware could be a good deal or shares are undervalued

[nucleon]

Best deal I've found so far is www.cloudhashing.com revenue re-investment option $15/GH

But to actual take advantage of it, you need to buy one of their plans, which the best price is $30/GH.

-- Craig

[tyrion70]

Div time!

We still have over 10 btc at Eligius since their payout system is having some issues (https://bitcointalk.org/index.php?topic=23768.msg4602966#msg4602966), divs are lower than expected due to that.

The numbers:
Balance in wallet: 17.40432645
Still in wallet for non-confirmed shares: 1.2706386
Hosting costs: 2.415026834
Dividends: 13.71866102
Dividends per share: 0.00004097
Namecoin balance: 143.33809456

Only 678 shares left to confirm.

Latest sharelist can be found here:
http://pastebin.com/WDfBP7Zi

Dividends have been sent in tx:
https://blockchain.info/tx/0a63e5202f94585ed3f0c523af99fe0c559962f1fca3abfab7073964bfe34ab8

Cheers!

[btceic]

Div time!

We still have over 10 btc at Eligius since their payout system is having some issues (https://bitcointalk.org/index.php?topic=23768.msg4602966#msg4602966), divs are lower than expected due to that.

The numbers:
Balance in wallet: 17.40432645
Still in wallet for non-confirmed shares: 1.2706386
Hosting costs: 2.415026834
Dividends: 13.71866102
Dividends per share: 0.00004097
Namecoin balance: 143.33809456

Only 678 shares left to confirm.

Latest sharelist can be found here:
http://pastebin.com/WDfBP7Zi

Dividends have been sent in tx:
https://blockchain.info/tx/0a63e5202f94585ed3f0c523af99fe0c559962f1fca3abfab7073964bfe34ab8

Cheers!

Dividend received, thank you again.

Question: when eligius comes back online to full capacity will you consider a supplemental dividend? Or just leave it till next sunday?

[tyrion70]

Dividend received, thank you again.

Question: when eligius comes back online to full capacity will you consider a supplemental dividend? Or just leave it till next sunday?

Well, as it is we have trouble sending these small amounts of btc (minimum allowed output is 5460 satoshi, divs this week were 4097 satoshi / share) so we'll wait for next Sunday probably. Also we might be forced to change the dividend interval upwards to uphold this minimum.

[PeZ]

Best deal I've found so far is www.cloudhashing.com revenue re-investment option $15/GH

But to actual take advantage of it, you need to buy one of their plans, which the best price is $30/GH.

-- Craig

According to their website, it costs $1000 for 10GH/s contract. You will never get your money back. CEX is cheaper. Both are terrible investments. The reason we made money on this group buy was because of the sudden rise in Bitcoin's value.

[Voodah]

Best deal I've found so far is www.cloudhashing.com revenue re-investment option $15/GH

But to actual take advantage of it, you need to buy one of their plans, which the best price is $30/GH.

-- Craig

According to their website, it costs $1000 for 10GH/s contract. You will never get your money back. CEX is cheaper. Both are terrible investments. The reason we made money on this group buy was because of the sudden rise in Bitcoin's value.

Forget this post.

Do NOT buy at CEX under any circumstances. Inform yourself about that very sneaky shitty company and it's brother Ghash.

Also, we did NOT make any money on this groupbuy. We lost BTC.

Do not take any advice from people who clearly don't understand investing at all, and try to rationalize a ~50% BTC loss by saying we made USD because BTC went up.
 
Getting pretty tired of this shit.

Again, as I've said before, this has got nothing to do with Tyrion and blastbob's work. They have been awesome and flawless in all regards. Their work is commendable, and a perfect contrast to ASIC makers' behaviors (and quasi-scam price schemes) or mining commoditizing "companies" like CEX (and their fully proven scam price schemes).

Please inform yourself and don't take or repeat stupid conclusions and advice. 

[PeZ]

If Bitcoin crashes to $10 US tomorrow, it's OK with you because you still have the same amount of Bitcoin. 

[stfnnn]

If there was an Emmy Award for best groupbuy 2013, Tyrion and blastbob would certainly win it!

Keep up the good work guys!

[eightcylinders]

I am new to this groupbuy thanks to folks selling, so just got my first dividend :-)  I also am really impressed with what you guys have done with this GB and how amazingly smooth it seems to have gone.   Kudos and sincere thanks.

I am sure that somewhere in this post my question is answered, but I haven't found it yet so hopefully y'all won't mind answering; what happens to the namecoins that are mined?

[tyrion70]

Thanks guys for your continuing support! This GB wouldn't have been so great without the most important part; the participants!

@eightcylinders; namecoins are sold and added to dividends. We used to save them up, but will sell them more often now (probably again next div payment).

Cheers,

[btceic]

This weeks dividend is shaping up nicely, we are already at 71btc

[tyrion70]

This weeks dividend is shaping up nicely, we are already at 71btc

71? Don't u mean 17? There's 14.30812048 in the wallet and 2.13584586 in eligius..

[btceic]

This weeks dividend is shaping up nicely, we are already at 71btc

71? Don't u mean 17? There's 14.30812048 in the wallet and 2.13584586 in eligius..

Sorry, was looking on my iphone and saw the 57btc on the payout queue and thought that was ours....

[nucleon]

Out of curiosity what's been the net payout per share since inception?

-- Craig