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Author Topic: ### ANN FAS ### INSTANT ALTCOIN MINING ###  (Read 15774 times)
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February 09, 2014, 05:01:18 PM
 #101

Hi Fasbit -

Really cool concept.  Few questions. 

1: why the R9 290x's instead of the R9 280x's?  I thought the consensus was for both cost and power consumption the R9 280x was better in ROI.

2: why only 2 cards per rig? I was able to get up to 2.2MH/s with a unit running 3x R9 280x's.  This optimizes cost spent on motherboard, memory, and CPU.  You do need to use PCI-e risers to fit 3 cards though (so you need a crate or rack).  If you are building a larger farm though, this probably makes sense.  For cooling - you can just use a floor fan since there is no need for a case.

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February 09, 2014, 05:08:13 PM
 #102

Let me break down something for the shareholders (and the reason why I didn't invest).
It cost fasbit $1500 per 1 Mh/s.

10,000,000 shares at 0.000001 means he raised 10 BTC.
Let's say he already has the mining equipment ready, and that BTC was ~750 when he bought them (it's not now but w/e).

That means each 1 Mh/s cost 2 BTC = he has a total of 5 Mh/s to go to shareholders.

If you use something like leaserig.net (better return than multipool) then you can get maybe 0.018 BTC / MH/s / Day.

Times 5 = 0.09 BTC per day.
Now assume he keeps his end of the deal and pays out 90% then = 0.081 BTC / Day as dividends

Now divide that by 10,000,000 shares = 0.0000000081 BTC / Share / Day (less than 1 satoshi).

In order to get your money back per share, it will take:

123.46 days.

That's actually not as bad as I thought lol.
Plus you can always sell the share Smiley

Compared to cex.io, it seems fairly decent. It does seem like it's a little (lot?) overpriced anywhere above the base price, though. Still, there's a possibility Fasbit will reap early some coin that'll explode later - and hopefully we'll get our share of it too.
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February 09, 2014, 05:10:51 PM
 #103

Hi Fasbit -

Really cool concept.  Few questions. 

1: why the R9 290x's instead of the R9 280x's?  I thought the consensus was for both cost and power consumption the R9 280x was better in ROI.

2: why only 2 cards per rig? I was able to get up to 2.2MH/s with a unit running 3x R9 280x's.  This optimizes cost spent on motherboard, memory, and CPU.  You do need to use PCI-e risers to fit 3 cards though (so you need a crate or rack).  If you are building a larger farm though, this probably makes sense.  For cooling - you can just use a floor fan since there is no need for a case.



These go into a server chassis case.   So you lose some functionality and some efficiency that way, but you gain manageability.
I chose 290x because they blow 90% of the heat out the back of the box

./fasbit
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February 09, 2014, 05:48:54 PM
 #104

Let me break down something for the shareholders (and the reason why I didn't invest).
It cost fasbit $1500 per 1 Mh/s.

10,000,000 shares at 0.000001 means he raised 10 BTC.
Let's say he already has the mining equipment ready, and that BTC was ~750 when he bought them (it's not now but w/e).

That means each 1 Mh/s cost 2 BTC = he has a total of 5 Mh/s to go to shareholders.

If you use something like leaserig.net (better return than multipool) then you can get maybe 0.018 BTC / MH/s / Day.

Times 5 = 0.09 BTC per day.
Now assume he keeps his end of the deal and pays out 90% then = 0.081 BTC / Day as dividends

Now divide that by 10,000,000 shares = 0.0000000081 BTC / Share / Day (less than 1 satoshi).

In order to get your money back per share, it will take:

123.46 days.

That's actually not as bad as I thought lol.
Plus you can always sell the share Smiley

This is an investment opportunity for people who want to 1: mine & 2: make a profit, without buying mining rigs. << All other filters are ancillary.
Some people want small thermonuclear furnaces in their bedroom... maybe up north...that makes sense.... but for the rest of the world... its not desirable...
Just assuming that the math is correct or even close in the equation above, the investors collectively would get .081 BTC*365 = 29.565 Annual/10 BTC Total Investment = 295.65% Annual Return -- And you didn't invest based on your calculations?Huh
That sort of return is not sustainable.

./fasbit
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February 09, 2014, 05:51:21 PM
 #105

So if I submit a buy order now it won't be applicable until the 14th of February?

No..you can buy now...there are shares for sell...
Feb 14th is when 10,000,000 new shares will be issued.

./fasbit
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February 09, 2014, 05:52:14 PM
 #106

That sort of return is not sustainable.

Huh, that's definitely good news Cheesy

In all seriousness, though, the dividends are probably going to be lower in a year, simply because there will be new, better GPUs coming out.
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February 09, 2014, 07:51:16 PM
 #107

That sort of return is not sustainable.

Huh, that's definitely good news Cheesy

In all seriousness, though, the dividends are probably going to be lower in a year, simply because there will be new, better GPUs coming out.
As long as there is a market...I will keep adding shares and adding Shaders...  not gonna stop ...
I already rented office space... bought server racks... Im ready to rock and roll...
The real market is the second round... anybody can jump in and roll the dice on the IPO...
People who buy on second round will be able to buy with some dividend data to go by...

./fasbit
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February 09, 2014, 07:52:14 PM
 #108

That sort of return is not sustainable.

Huh, that's definitely good news Cheesy

In all seriousness, though, the dividends are probably going to be lower in a year, simply because there will be new, better GPUs coming out.
As long as there is a market...I will keep adding shares and adding Shaders...  not gonna stop ...
I already rented office space... bought server racks... Im ready to rock and roll...


That's very good news!

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February 09, 2014, 07:56:04 PM
 #109

That sort of return is not sustainable.

Huh, that's definitely good news Cheesy

In all seriousness, though, the dividends are probably going to be lower in a year, simply because there will be new, better GPUs coming out.
As long as there is a market...I will keep adding shares and adding Shaders...  not gonna stop ...
I already rented office space... bought server racks... Im ready to rock and roll...


That's very good news!

Im thinking about a a bulk order of GPU's from China after next round....
Maybe some other people will want to jump in,,,
Like buy 50 AMD 290x in one order

./fasbit
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February 09, 2014, 09:50:14 PM
 #110

First dividends payouts in 1 hour? Smiley

If all goes well, I may put a 3 BTC order at 0.000001
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February 09, 2014, 10:05:14 PM
 #111

@Fasbit can you comment on the the other cryptostock you made on the 3rd but never released any shares? Is that one being scrapped?

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February 09, 2014, 10:06:15 PM
 #112

First dividends payouts in 1 hour? Smiley

If all goes well, I may put a 3 BTC order at 0.000001

If all goes well, you'd need to shave at least one of those zeroes Cheesy
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February 09, 2014, 10:34:20 PM
 #113

What formula did you use for paying the dividend? Second Q, what kinda M/hs are you working with? Trying to get a warm and fuzzy here. I make about .026 BTc a day mining with 1.5 M/hs so with a dividend of .1 being payed out and lets imagine you chose 50/50 pocket to payouts that a total of .2 in 24hrs. That would be mean you only need 11 M/hs to pay the dividend of .1 when I compare it to my mining.

I think the investors need more information.

EDIT - Definately once a week payout or you'll kill yourself dealing with it lol

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February 09, 2014, 10:45:57 PM
 #114

@Fasbit can you comment on the the other cryptostock you made on the 3rd but never released any shares? Is that one being scrapped?

Yes... it will be scrapped... It was a rough draft... and the CryptoStock never would let me edit it or issue shares...
The have really poor customer service too

./fasbit
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February 09, 2014, 11:29:16 PM
 #115

What formula did you use for paying the dividend? Second Q, what kinda M/hs are you working with? Trying to get a warm and fuzzy here. I make about .026 BTc a day mining with 1.5 M/hs so with a dividend of .1 being payed out and lets imagine you chose 50/50 pocket to payouts that a total of .2 in 24hrs. That would be mean you only need 11 M/hs to pay the dividend of .1 when I compare it to my mining.

I think the investors need more information.

EDIT - Definately once a week payout or you'll kill yourself dealing with it lol

Im running 5 mh/s GPU and 52 CPU Cores.
My daily return is a little less than to yours (per mh/s) because I tame it back a little because mine are not Open Air rigs....
Im trying to go larger scale...so they have to be in a server chassis...
They colud go higher out in the air.... I make up a little for it my co-mining the CPU....

I get about .06-.07 BTC per day on 5 mh/s and .01 on the CPU's
The Dividend today was paid on:
.07 * 2 = .140 * 70% = .98

But the system would let me pay .98 due to minimum per share....
And also I went ahead and paid both Sat & Sun...so it was like a free day...
But it was a good IPO... so I felt like throwing the full day...

With IPO Im just going to keep adding rigs... so... Div will just go up...




./fasbit
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February 09, 2014, 11:31:33 PM
 #116

@Fasbit can you comment on the the other cryptostock you made on the 3rd but never released any shares? Is that one being scrapped?

Yes... it will be scrapped... It was a rough draft... and the CryptoStock never would let me edit it or issue shares...
The have really poor customer service too

And minimum .02 withdrawal, and .005 tx fee. Should've bought more of those shares, as it is now I'll lose more on the fee than will gain on the shares Tongue
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February 10, 2014, 12:44:46 AM
 #117

What formula did you use for paying the dividend? Second Q, what kinda M/hs are you working with? Trying to get a warm and fuzzy here. I make about .026 BTc a day mining with 1.5 M/hs so with a dividend of .1 being payed out and lets imagine you chose 50/50 pocket to payouts that a total of .2 in 24hrs. That would be mean you only need 11 M/hs to pay the dividend of .1 when I compare it to my mining.

I think the investors need more information.

EDIT - Definately once a week payout or you'll kill yourself dealing with it lol

Im running 5 mh/s GPU and 52 CPU Cores.
My daily return is a little less than to yours (per mh/s) because I tame it back a little because mine are not Open Air rigs....
Im trying to go larger scale...so they have to be in a server chassis...
They colud go higher out in the air.... I make up a little for it my co-mining the CPU....

I get about .06-.07 BTC per day on 5 mh/s and .01 on the CPU's
The Dividend today was paid on:
.07 * 2 = .140 * 70% = .98

But the system would let me pay .98 due to minimum per share....
And also I went ahead and paid both Sat & Sun...so it was like a free day...
But it was a good IPO... so I felt like throwing the full day...

With IPO Im just going to keep adding rigs... so... Div will just go up...





.14 (Two days of GPU mining) + .02 (Two Days of CPU mining) = .16 * .7(.7 Being share holder dividend %) = .112

Your math is a bit off, I believe or there are some unknowns I can't calculate.

-----------------

Are your 52 CPU rigs ready to accept GPUs and are just mining CPU till they get their GPU? Lemme speculate here if thats true.



52 with 2 R9 290x each thats 104 GPU's at 800K/hs safely without running to hot thats 83.2 Mh/s. Using your current rate of return of .07 per 5M/hs thats ~1.16 BTC a day * .7 = .81536 BTC Dividends to shareholders per day. Thats .0000000081536 per share (AT MAX SHARES OF 100,000,000)

So if I own 100,000 Shares I could see a return of (.00081536/Day) or (.00570752/week) or (.02283008/month) or (.27396096/Year)

All I could say is that by the time the final shares a are pushed out I hope there will be more than than 104 GPUs in use!

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February 10, 2014, 12:58:16 AM
 #118

What formula did you use for paying the dividend? Second Q, what kinda M/hs are you working with? Trying to get a warm and fuzzy here. I make about .026 BTc a day mining with 1.5 M/hs so with a dividend of .1 being payed out and lets imagine you chose 50/50 pocket to payouts that a total of .2 in 24hrs. That would be mean you only need 11 M/hs to pay the dividend of .1 when I compare it to my mining.

I think the investors need more information.

EDIT - Definately once a week payout or you'll kill yourself dealing with it lol

Im running 5 mh/s GPU and 52 CPU Cores.
My daily return is a little less than to yours (per mh/s) because I tame it back a little because mine are not Open Air rigs....
Im trying to go larger scale...so they have to be in a server chassis...
They colud go higher out in the air.... I make up a little for it my co-mining the CPU....

I get about .06-.07 BTC per day on 5 mh/s and .01 on the CPU's
The Dividend today was paid on:
.07 * 2 = .140 * 70% = .98

But the system would let me pay .98 due to minimum per share....
And also I went ahead and paid both Sat & Sun...so it was like a free day...
But it was a good IPO... so I felt like throwing the full day...

With IPO Im just going to keep adding rigs... so... Div will just go up...



.14 (Two days of GPU mining) + .02 (Two Days of CPU mining) = .16 * .7(.7 Being share holder dividend %) = .112

Your math is a bit off, I believe or there are some unknowns I can't calculate.
-----------------
Are your 52 CPU rigs ready to accept GPUs and are just mining CPU till they get their GPU? Lemme speculate here if thats true.

52 with 2 R9 290x each thats 104 GPU's at 800K/hs safely without running to hot thats 83.2 Mh/s. Using your current rate of return of .07 per 5M/hs thats ~1.16 BTC a day * .7 = .81536 BTC Dividends to shareholders per day. Thats .0000000081536 per share (AT MAX SHARES OF 100,000,000)

So if I own 100,000 Shares I could see a return of (.00081536/Day) or (.00570752/week) or (.02283008/month) or (.27396096/Year)

All I could say is that by the time the final shares a are pushed out I hope there will be more than than 104 GPUs in use!

.06 GPU + .01 CPU = .07 *2 = .14  < choosing 70% was a trial number. We'll have to see how it goes.   A balance between share holders and company.
There are alot of unknowns
And its 52 CORES / not rigs
Rig Count
#1 - 8 cores- 0.8mh/s
#3 - 8 cores- 0.55 mh/s
#4 - 8 cores- 0.55 mh/s
#9 - 6 Cores
#10 - 6 cores- 0.55 mh/s
#11 8 cores - 1.6mh/s
#12 8 cores - 1.0mh/s

6 Dead 7970's  - fried - still under warranty... wanna buy 'em???

./fasbit
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February 10, 2014, 01:16:07 AM
 #119

Gotcha 52 Cores! Ok well enough speculating for me, I'm just going to standby and watch everything pan out for now!

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February 10, 2014, 01:41:24 AM
 #120

BONUS... 500 DOGE (paid in Dimes)

1. Send me email with your DIME address (trades on coined up) / trade for DOGE > info@fasbit.com
2. Send Email to Coinedup - Ask them to list c-note - bcc me  contact@coinedup.com
3. Send Email to Poloniex - Ask them to list c-note - bcc me  poloniex@gmail.com
4. Post back here that you got your DIMES...be patient... I have to mine them...

I have 1,000,000 DIMES ready



./fasbit
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