[BTC-TC] CIPHERMINE-PT - Industrial Mining & High Performance Computing

[dexX7]

Suppose I said to you "hey, I'm going to run a new 'direct' pass-through for ASICMiner, so you can now get shares of ASICMiner directly from Friedcat, or you can get pass-through shares directly from me". Why on Earth would you buy them from me? Suppose someone now said "hey, did you know ASICMiner is finally going to be listed on an exchange again?" Then the question becomes even more pressing: why on Earth would you buy them from me instead?

Ah, that's actually a great example.

First off, I think the broader question is "what are potential reasons to justify a second instance" rather than focusing on the need of two exchanges. Generalized I would answer this with "whenever there is a difference between the two instances, there might be a justification". This also applies to direct shares, especially when the operator fulfills some roles of an exchange.

As mentioned before, the current form of this PT is not the one I intended to create in the first place, but the result of the LTCG/BTCT shutdown. I decided to continue simply (but not only) because there were shareholders left who didn't convert to CM. From my point of view that's justification enough, even if you think there is "no need to". I'm not the one who makes that call, but shareholders do, based on their own reasoning and the given circumstances.

It's also worth to mention that this PT is tradable in the sense that I do process transfers from one user to another, which CM as direct share provider never did and never will with the note that users should wait for CipherTrade. By the way, I'm happy about any meaningful suggestion, if you like to contribute.

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[medicine]

DexX7, are you saying the PT can be traded now?

[dexX7]

DexX7, are you saying the PT can be traded now?

CM <> CM-PT is still not possible and will probably not be before CipherTrade goes live according to Kate's statements, but if you are asking about CM-PT <> CM-PT, then yes, that's possible.

If you prefer Litecoin over Bitcoin I can make another proposal though. Would you like to receive your dividend rather in Litecoin?

[inspiredinvestor]

DexX7, are you saying the PT can be traded now?

CM <> CM-PT is still not possible and will probably not be before CipherTrade goes live according to Kate's statements, but if you are asking about CM-PT <> CM-PT, then yes, that's possible.

If you prefer Litecoin over Bitcoin I can make another proposal though. Would you like to receive your dividend rather in Litecoin?

I'm excited about the announcement of the new excahgne, I don't think I'll be selling anything but I like the idea it's housed somewhere people can sell and of course buy.

good times 

[medicine]

DexX7, are you saying the PT can be traded now?

CM <> CM-PT is still not possible and will probably not be before CipherTrade goes live according to Kate's statements, but if you are asking about CM-PT <> CM-PT, then yes, that's possible.

If you prefer Litecoin over Bitcoin I can make another proposal though. Would you like to receive your dividend rather in Litecoin?

No, I don't want my dividend in LTC.  I don't need special treatment.   Was just curious if PT <> PT was tradable.
Thanks

[DrGregMulhauser]

It's also worth to mention that this PT is trabable in the sense that I do process transfers from one user to another, which CM as direct share provider never did and never will with the note that users should wait for CipherTrade...

Ah, bingo -- there is value being added here, because you're providing trading between PT shares. And I hadn't quite twigged that Kate's reactions to the whole situation had gone so far as to include forced lock-in by freezing the shareholder register altogether.

Surely folks have to wonder: why on Earth didn't CM convert the entire shareholder base to your PT -- or, alternatively, hand over management of their shareholder register to you while dropping the PT altogether -- since you're apparently offering their shareholders something that they themselves refuse to offer?

(I'm not looking for an answer -- just marvelling at this latest reminder of the eccentricities of CM management.)

CM <> CM-PT is still not possible and will probably not be before CipherTrade goes live according to Kate's statements, but if you are asking about CM-PT <> CM-PT, then yes, that's possible.

PT shares which are not redeemable for the underlying...only in CM-land...

[medicine]

Dude what's your problem?  You need to put your mind to something else.

[DrGregMulhauser]

Dude what's your problem?  You need to put your mind to something else.

Gosh, there's a warm and inclusive welcome. 

[medicine]

Dude what's your problem?  You need to put your mind to something else.

Gosh, there's a warm and inclusive welcome. 

Sorry, see PM. 

[DrGregMulhauser]

Sorry, see PM. 

Yep, received with thanks -- and no problem at all. 

[dexX7]

This weeks dividend

We received a total dividend of 45.79854618 LTC for 5369 shares. This results in 24.45688429 LTC and 0.25567152 BTC dividend for this pass-through, given an exchange rate of 0.01341986 LTC/BTC and a 2.28992730 LTC fee. I know it may be strange, but if you prefer to receive your dividend in LTC, I'm fine with that.

Transaction: b6ff3ce080c9db62fe5bf4afcb1dc5a1e7ac981643fda0d1822879ff61648a03

What Kate said on the Litecoin forums:

Evening All,

This week our revenues were €16,956, mainly from BTC mining. After depreciation, power/hosting and bond interest that leaves a profit of €15,228. 50% of this has been distributed as a dividend payment of €7,614 in the form of 938.32 LTC (@ €8.10/LTC - derived from BitStamp's BTC/USD price, BTC-E's BTC/LTC price and xe.com).

After the CoinTerra purchases last week the hardware fund was on €-1,010. This week we have added €8,361 to the fund, so we have a net total of €7,351. I'm going to discuss whether we should be spending this or hoarding it waiting for GPGPUs (as previously agreed) with Giles (evilscoop) next week. The recent price increases have changed things rather, assuming they will remain at this level, and as Benny pointed out there remains skepticism as to whether the "LTC ASICs" are real.

Kate.

[z3r0]

> late 2013
> mining

rofl.

[dexX7]

> late 2013
> mining

rofl.

With the recent price rise mining seems to be very profitable, which immediently resulted in a sharp rise in (Litecoin's) hashrate.



In most online stores the prominent GPUs (7950/7970) are not available anymore or are up for sale with a premium of 50-100 EUR, almost all market place subboards in forums (and not only here or in the Litecoin forum) are filled with "looking for GPU x". My guess is that there is more incoming.

This weeks dividend

We received a total dividend of 19.38941136 LTC for 5369 shares. This results in 10.35414067 LTC and 0.29227723 BTC dividend for this pass-through, given an exchange rate of 0.0362614 LTC/BTC and a 0.96947056 LTC fee.

Transaction: 31bf49c14e2b27283b2c4fa92e55ecabd8794d1cf322360eb62c3b3df32d8133

The incoming dividend more than halfed in terms of Litecoins compared to last week (45.8 LTC vs. 19.39 LTC), but the recent Litecoin price rise affected the LTC/BTC exchange rate very positively (0.0134 vs. 0.0362).

[dexX7]

According to evilscoop this weeks dividend shall be distributed soon.

Kate is rather ill atm, we'll get dividends sorted shortly, dont worry you will get them...

I believe kate is going to make special effort to crawl out of her death bed to sort dividends today...

This does highlight again a need for someone else to be able to pay dividends should kate be mia, which I shall raise with her.

Update:

Kate is still ill and meds are knocking her sideway.
She apologizes profusely but will roll the 2 weeks together on sunday.

[yufu571]

i still get no dividends since Oct, 2013.
kate, can you explain why?

[dexX7]

i still get no dividends since Oct, 2013.
kate, can you explain why?

According to evilscope (#1, #2 and #3) there was a family related incidend and she will be back next week. Kate is solely in control of any dividends.

Will be forwarded ASAP.

[dexX7]

Hardware

CipherMine received the first two out of eight ordered HashFast BabyJets. The miners are set up and running stable. It also appears that CoinTerra started to ship it's first units, see an article on coindesk.com or theregister.co.uk.




The state of CipherMine, dividends and Kate

Due to the recent, temporary absence of Kate dividend payments are somewhat delayed. I politely raised my concerns in the CipherMine thread on litecointalk.org regarding this issue. Giles aka. evilscope stepped up and mentioned that he currently acts as operation manager. According to him CipherMine does not relay on Kate and dividend payments are sorted out as soon as possible. Ongoing hardware shippings are also not affected. This was further confirmed by another Wood Technology staff member.

As what regards CipherTrade, it's currently in an ongoing beta and access can be obtained on beta.ciphertrade.com. There is a dedicated forum to submit bug reports, feature requests and comments.

[MPOE-PR]

Due to the recent, temporary absence of Kate dividend payments are somewhat delayed. I politely raised my concerns in the CipherMine thread on litecointalk.org regarding this issue. Giles aka. evilscope stepped up and mentioned that he currently acts as operation manager. According to him CipherMine does not relay on Kate and dividend payments are sorted out as soon as possible. Ongoing hardware shippings are also not affected. This was further confirmed by another Wood Technology staff member.

As what regards CipherTrade, it's currently in an ongoing beta and access can be obtained on beta.ciphertrade.com. There is a dedicated forum to submit bug reports, feature requests and comments.

No signatures, no nothing, people just step up? Next goat is going to step up for this forum, or what, phantomscamcircuit is going to step up for mtgox.

What sense does this make! One post contradicts the next, look at it!

[dexX7]

No signatures, no nothing, people just step up?

Well, it's not like some random litecointalk.org user just appeared out of nowhere and made a statement.

To clarify: Giles aka. evilscope is executive officer / operations manager and Kate's original partner in CipherMine. (source: CM plan p. 5)

[inspiredinvestor]

Hardware

CipherMine received the first two out of eight ordered HashFast BabyJets. The miners are set up and running stable. It also appears that CoinTerra started to ship it's first units, see an article on coindesk.com or theregister.co.uk.




The state of CipherMine, dividends and Kate

Due to the recent, temporary absence of Kate dividend payments are somewhat delayed. I politely raised my concerns in the CipherMine thread on litecointalk.org regarding this issue. Giles aka. evilscope stepped up and mentioned that he currently acts as operation manager. According to him CipherMine does not relay on Kate and dividend payments are sorted out as soon as possible. Ongoing hardware shippings are also not affected. This was further confirmed by another Wood Technology staff member.

As what regards CipherTrade, it's currently in an ongoing beta and access can be obtained on beta.ciphertrade.com. There is a dedicated forum to submit bug reports, feature requests and comments.

looking forward to the babyjets! being set up!