[ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated]

[lobbes]

I don't know why but the term "additional resources" really does it for me. 

This user is currently ignored.

Crumbs: reassuringly ignorable.

I think that's what you meant to say.

+1

Page 182 was actually refreshing in terms of meaningful conversation. Let's keep it going 

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[zumzero]

When I first invested in this company I was aware of the potential to earn divs from mining, but actually it was the profit from hardware sales that I thought was most exciting.

It seems these days that people think otherwise and this is in part to do with the price rise of Bitcoin.

So any thoughts on why this has changed?

Is anyone willing to speculate on mid to long term strategy? If Bitcoin continues to rise will there come a time when concentrating on selling hardware could be more profitable? 

Something I'm aware of is the more that Ken has to focus on delivering hardware to customers, the less attention our mining farm gets.  Will we be able to expand at a fast enough pace to prevent one side of the business becoming a detriment to the other?

[Bargraphics]

When I first invested in this company I was aware of the potential to earn divs from mining, but actually it was the profit from hardware sales that I thought was most exciting.

It seems these days that people think otherwise and this is in part to do with the price rise of Bitcoin.

So any thoughts on why this has changed?

Is anyone willing to speculate on mid to long term strategy? If Bitcoin continues to rise will there come a time when concentrating on selling hardware could be more profitable? 

Something I'm aware of is the more that Ken has to focus on delivering hardware to customers, the less attention our mining farm gets.  Will we be able to expand at a fast enough pace to prevent one side of the business becoming a detriment to the other?

Companies sell hardware because of the following reasons

Electricity/Cooling/Space requirements of running 1,000's of machines can be somewhat hard to overcome
You can only mine with machines that put you around 40% of the network at any given time due to people getting scared of a 51% attack but you can sell unlimited amounts of machines and make immediate money from that in USD as trying to sell thousands of coins and get them out of exchanges might be a bit tough if you did have 40% of the network.
These machines are prices at $130/Bitcoins
Bitcoins is closer to $800 now and instead of honoring the price point at which you are selling it becomes more profitable to mine unless you plan on raising the Miners price point then it could be more profitable to sell.

[somestranger]

I think we should focus on getting the mining farm to max capacity before actively trying to sell miners. At the current exchange rate the miners are highly profitable if Ken delivers on time, so we should take those profits for ourselves.

[shadallion]

I think we should focus on getting the mining farm to max capacity before actively trying to sell miners. At the current exchange rate the miners are highly profitable if Ken delivers on time, so we should take those profits for ourselves.

Gotta agree.  With bitcoin at $800 and most of thinking it will continue an upward trend, mining our own coins and earning dividends worth $100s and $1000s per week seems ideal to me. 

[minerpart]

When I first invested in this company I was aware of the potential to earn divs from mining, but actually it was the profit from hardware sales that I thought was most exciting.

So any thoughts on why this has changed?

The other aspect to it is that the sale of mining equipment gives you immediate USD funds whereas putting that machine on the farm gives you that money over a period - let's say 2 months.

As an example we could have a miner retailing at 25kUSD which cost 5k to make. An instant sale would net us 20kUSD profit giving us 10k for divs and 10k for reinvest fund. Crucially that reinvest 10k is available a short time after the miner is assembled. However if we put that machine on the farm the 10k for reinvest might not materialise for 2months. Obviously that 2month delay effects how quickly we can order more chips and miner components. In that example, if we are trying to grow the business quickly then the sale of the miner does us the best service. And ofcourse BTC could fall dramatically meaning the miner on the farm never makes payback and so we never get the 10k to reinvest.

So clearly from that I would say we need to:

SELL miners for the reinvest money
PUT MINERS ON FARM for long-term divs

We need to do both the maximise turn around time and maintain good divs.

[zumzero]

So it seems Ken needs to adopt a strategy which is fluid enough to be able to react to large swings in price over extended periods of time without closing the doors on any particular avenue.

[chsados]

Ken did recently share with me that we are slated to be on a new, centralized, exchange once transfers complete. This is an intermediary step, as a decentralized solution is the end goal. I'll shoot him a PM so he can officially address this. (I'd quote him but it was via IRC and I don't have a log.) He did not say what exchange he was working with, but the exchange was ready to create accounts/move shares, so it should all happen quick once it happens.

I can confirm this, I have been on the test exchange and it seems close to operational.  This was maybe a month ago - the prelaunch URL he had given me is no longer up so perhaps it has moved to a new server.

[Stuartuk]

So it seems Ken needs to adopt a strategy which is fluid enough to be able to react to large swings in price over extended periods of time without closing the doors on any particular avenue.

Personally I've thought for a while, and mentioned it on here, that Ken doesn't want too many hardware orders because they will delay our own farm roll-out and THIS is why he was happy with the website and the sales it was generating.

If we had 10Mill of orders there would be a significant back-log to clear before we could start making rigs for our farm. And while that would raise lots of FIAT for reinvest there is a logistical problem with trying to assemble volumes way above the realistic capacity we can manage.

So yes Ken needs to be fluid, I think he very much is, I think he is being strategic with the silence on here about company progress and I think he has known all along that getting the company on two feet cannot be compromised with a loose tongue.

Having said that I'm very much looking forward to the news that should be with us by the end of Nov. Lets see.

[damiano]

Ken did recently share with me that we are slated to be on a new, centralized, exchange once transfers complete. This is an intermediary step, as a decentralized solution is the end goal. I'll shoot him a PM so he can officially address this. (I'd quote him but it was via IRC and I don't have a log.) He did not say what exchange he was working with, but the exchange was ready to create accounts/move shares, so it should all happen quick once it happens.

I can confirm this, I have been on the test exchange and it seems close to operational.  This was maybe a month ago - the prelaunch URL he had given me is no longer up so perhaps it has moved to a new server.

just adding this


Last week I asked Ken if there was anyway to purchase additional shares and he said not yet, but soon

[JoTheKhan]

Ken did recently share with me that we are slated to be on a new, centralized, exchange once transfers complete. This is an intermediary step, as a decentralized solution is the end goal. I'll shoot him a PM so he can officially address this. (I'd quote him but it was via IRC and I don't have a log.) He did not say what exchange he was working with, but the exchange was ready to create accounts/move shares, so it should all happen quick once it happens.

I can confirm this, I have been on the test exchange and it seems close to operational.  This was maybe a month ago - the prelaunch URL he had given me is no longer up so perhaps it has moved to a new server.

just adding this


Last week I asked Ken if there was anyway to purchase additional shares and he said not yet, but soon

Last week I asked Ken if divs are gonna be big enough for me to buy a unicorn. He said probably. /s

This is kind of what you guys sound like. Just want you guys to realize we would like Ken to actually come on the thread and say it to all his investors. Not through PMs.

[knybe]

I'd like a unicorn puking and maybe shitting rainbows…




EDIT: …found it:

[knybe]

it would be so great to have news like this for ACTM:

Visit of ASICMINER's Immersion Cooling Mining Facility

...but alas.

[drawingthesun]

it would be so great to have news like this for ACTM:

Visit of ASICMINER's Immersion Cooling Mining Facility

...but alas.

We will want to seriously consider this type of tech for our mining farm once we get it up and running.

It looks like the maintenance of this system is far superior to fan cooled systems. No need for heat sinks and fans.

[iSnow]

it would be so great to have news like this for ACTM:

Visit of ASICMINER's Immersion Cooling Mining Facility

Well, if I understand it right, then ACTM has a lot of problems getting their nex-gen ASICs in time. The current target date is ... February?

[drawingthesun]

Well, if I understand it right, then ACTM has a lot of problems getting their nex-gen ASICs in time. The current target date is ... February?

Do you mean ASICMINER?

[iSnow]

Well, if I understand it right, then ACTM has a lot of problems getting their nex-gen ASICs in time. The current target date is ... February?

Do you mean ASICMINER?

My bad, of course. More coffee...

[BitThink]

Any update about eAsic's chips? Now is 26 Nov already.

[iSnow]

Any update about eAsic's chips? Now is 26 Nov already.

No, and I don't see what's so hard about waiting for some more days. After all this time, about anyone should know that Ken is not streaming updates.

[minerpart]

Another five days (including today) till the end of the month so let's hope a substantial update comes this week.