[Ann] [ForgeCoin] Mining with Cheap electricity!

[sepehr]

24X S1 ANTMINERS MINING AT FORGECOIN

MAY 30, 2014

Now 24x S1 Antminers are mining at Forge Coin Facility.

By the end of next week we estimate this number to grow to 46x S1 Antminers.

This is an screenshot of M’s Ant Monitor that we are using at our farm to monitor our Antminers:


24xS1 Antminers

Our total Hash Power is currently estimated to be 4.32 Th/s and estimate to grow to 8.28 Th/s until end of next week.

This hash power can generate 0.398 BTC per day that is currently  about 0.2 BTC/Day.

As we have sold about 47.5 Assets till now it means that with current asset holders each asset wil have a share of 0.0586 BTC/ week/Asset dividends, excluding costs.

Assuming 0.7 BTC per asset, An ROI of 3 months without costs can be estimated. Which with costs it will be about 4 months.(And assuming same difficulty in BTC network that is not true!)

Add to all of above the price of Bitcoin that is growing now, That show that you had a very good choice!

Just some estimation about what we will have ahead!

[sepehr]

NEW NXT PRICE: FORGECOIN=9300 NXT

MAY 31, 2014

As the price of NXT now swinging above 7500 Satoshi/NXT now we amended our asset price to 9300 NXT/Asset.

The BTC Price will be 0.7/Asset until 15th Jun if S1 Antminer price not changed significantly.

After 15th of Jun, the %10 discount, for early contributors, will be waived, and the price will grow to 0.7777 BTC per Asset.

[sepehr]

NEW NXT PRICE: FORGECOIN=8250 NXT

JUNE 2, 2014

As the price of NXT now swinging above 8500 Satoshi/NXT now we amended our asset price to 8250 NXT/Asset.

The BTC Price will be 0.7/Asset until 15th Jun if S1 Antminer price not changed significantly.

After 15th of Jun, the %10 discount, for early contributors, will be waived, and the price will grow to 0.7777 BTC per Asset.

Also we will don’t charge any costs for first month contributors. Another step to support those that risked and purchased our asset.

So first month contributors will received every satoshi we are mining without decreasing any costs for Electricity, Rent and any other costs.

FYI there are 29xS1 Antminers Installed and mining at our Facility we have 7 Antminers that received yesterday and will install it today Inshallah. Also we have 10xS1′s in shipment.

We are receiving daily 0.2 BTC approximately now. We will calculate this week dividends at 12:00 GMT today.

So everyone holding our assets at 12:00 GMT every Monday will receive their dividends.

As paying dividends still manually it may took about 24 hours for us to pay it. We have hurry to pay dividends ASAP. So we do our best to pay it as fast as possible.

[sepehr]

THIRD WEEK DIVIDENDS PAID

JUNE 3, 2014

Today we have paid third week dividends.

For more information please check this pdf.

As we told before to support our early investors we have waived all costs for first month investors.

All costs including electricity costs, rental costs, Installation costs, Management costs, and so, will deduct from mining revenues from week 5. Also starting from June 15 the %10 discount over Asset price will be waived.

FYI we faced a 6 hours down time last night because of cut of electricity because of huge sand storm in Tehran.

Everything is up and running smoothly now.

[sepehr]

LAST UPDATES 6/5/2014

ForgeCoin= 0.7 BTC/Asset
ForgeCoin= 6350 NXT/Asset
Sold Assets: 91.367
Ordered S1's: 58
Installed S1's: 45
Current Hash: 8.1 Th/s
Main Mining Account:
19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5

[sepehr]

ANTMINER S2 RATHER THAN S1

JUNE 6, 2014

As Bitmain, the source for our mining hardware, stopped production of S1 Antminers, from today, we started to order S2 Antminers.

S2 Antminers Hashing rate is 1 Th/s which is about 5.5 x of S1 180 Mh/s Hash rate. So we count each S2 Antminer as 5.5 x S1 Antminers and we order 1 x S2 Antminers for each 5.5 ForgeCoin Asset.

Overall each Forgecoin Asset will remain 180 Gh/s Hashing Power.

To be sure about custom paperwork we started with just 1x S2 Antminer, and after that we are getting sure about it’s custom clearance we will order our main requirements.

Also as one of our investors suggested, we are studying Dragon 1T Mining hardware as well, and when we are sure that it can be a good choice, will update our valued investors as well.

Also we are studying setting up NXT voting system for our clients to decide what they want us to do.

[sepehr]

LAST UPDATES 6/6/2014

ForgeCoin= 0.7 BTC/Asset
ForgeCoin= 5600 NXT/Asset
Sold Assets: 92.467
Ordered S2's: 1
Installed S2's: 0
Ordered S1's: 58
Installed S1's: 45
Current Hash: 8.1 Th/s
Main Mining Account:
19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5

[sepehr]

LAST UPDATES 6/12/2014

ForgeCoin= 0.7 BTC/Asset
ForgeCoin= 6600 NXT/Asset
Sold Assets: 93.967 of 175 Total
Ordered S2's: 2
Installed S2's: 0
Ordered S1's: 58
Installed S1's: 52
Current Hash: 9.36 Th/s
Daily income Est: 0.40 BTC
Main Mining Account:
19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5

[sepehr]

FOURTH WEEK DIVIDENDS PAID.

JUNE 12, 2014

It’s our pleasure to inform that today we have paid our fourth week dividends.

For more information please check this pdf.

Our dividends per Asset paid this week was 163.29624900 NXT.

We hope that this small amount don’t frustrate our investors.

Last week we had Chinese Festival holidays for four days. And after that the Bitmain Company stopped S1 Antminers and we change our line S1 orders to S2 orders and it takes time to import, solve custom issues and install the new miners, by the way we had new investors as well. So we are very late in ordering and installing Miners. So the number of Asset holders increased while the number of Miners not increased enough, and it results that Dividends is not so that we estimated before.

But we are sure that if we receive and install the new miners the Dividends will grow much more.

As we told before to support our early investors we have waived all costs for first month investors.

FYI all costs including electricity costs, rental costs, Installation costs, Management costs, and so, will deduct from mining revenues from next week. Also starting from June 15 the %10 discount over Asset price will be waived and you have just 3 days remaining to invest in ForgeCoin with %10 discount.

Hope you find ForgeCoin a good place for investment.

[sepehr]

NEW VIDEO FROM FORGECOIN FACILITY

JUNE 12, 2014

These are your Antminers mining at ForgeCoin facility.

We have 52x S1 Antminers installed 6x S1 Antminers and 2x S2 Antminers shipped and waiting for custom clearance now at 6/12/2014.

https://www.youtube.com/watch?v=e93KpDZ8CNo

[sepehr]

FOLLOW US ON TWITTER

JUNE 12, 2014

We have setup a twitter account and you can follow last ForgeCoin updates through Twitter @ForgeCoin .

Please follow us on twitter and don’t miss any news from us.

Thanks,

ForgeCoin Staffs

[Pieh0]

Seeing as you decided to delete my comment on Youtube, i'll put it here.

https://www.youtube.com/watch?v=zQccfhaROpw

Interesting electrical safety standards you have there, here's a list of things that would make me kick the sparky out of the building if i saw that level of quality.

0:05 "Lets just cable tie this huge, 3 phase power cable to a window, then dangle it across a flight of stairs, what could possible go wrong?"
0:08 Interesting security you have there.
0:10 Cable strain relief, what's that?
0:19 Need to add more extension cables? I'd turn everything off before you do, unless you like the smell of fried skin. Also the input for the main switch seems to be just shoved in there, but judging from the install job at 0:05, I'm not surprised. Don't forget to put some rubber grommets on the holes at the bottom, with all the cable movement, it won't take long before someone gets electrocuted.

I would mention something about the cables trailing over the floor, but i would hope you would get that tided up as you get set up.

So aside from the health and safety nightmare, lack of basic electrical safety and lack of physical security, there is only 1 question that remains.

You're in Iran, and Iran isn't known for its cold climate. What are you doing about cooling 52 ant miners? I had 11 of them running and they rapidly increased the air temps to 35-40c+, with a room full of miners dumping out the heat of a small volcano into the air, a fire won't be far off.


**EDIT**

Just saw your new video.

https://www.youtube.com/watch?feature=player_detailpage&v=e93KpDZ8CNo#t=21

Are you using the same cable you are using for the 12v lines, for mains voltage?!

[sepehr]

Seeing as you decided to delete my comment on Youtube, i'll put it here.

https://www.youtube.com/watch?v=zQccfhaROpw

Interesting electrical safety standards you have there, here's a list of things that would make me kick the sparky out of the building if i saw that level of quality.

0:05 "Lets just cable tie this huge, 3 phase power cable to a window, then dangle it across a flight of stairs, what could possible go wrong?"
0:08 Interesting security you have there.
0:10 Cable strain relief, what's that?
0:19 Need to add more extension cables? I'd turn everything off before you do, unless you like the smell of fried skin. Also the input for the main switch seems to be just shoved in there, but judging from the install job at 0:05, I'm not surprised. Don't forget to put some rubber grommets on the holes at the bottom, with all the cable movement, it won't take long before someone gets electrocuted.

I would mention something about the cables trailing over the floor, but i would hope you would get that tided up as you get set up.

So aside from the health and safety nightmare, lack of basic electrical safety and lack of physical security, there is only 1 question that remains.

You're in Iran, and Iran isn't known for its cold climate. What are you doing about cooling 52 ant miners? I had 11 of them running and they rapidly increased the air temps to 35-40c+, with a room full of miners dumping out the heat of a small volcano into the air, a fire won't be far off.


**EDIT**

Just saw your new video.

https://www.youtube.com/watch?feature=player_detailpage&v=e93KpDZ8CNo#t=21

Are you using the same cable you are using for the 12v lines, for mains voltage?!

Dear Pieh0,

It's my pleasure that you decided to give us feedback!
Thanks a lot and I value it and never decided to delet your comment anywhere!

About each comment:
0:08 We have enough security and increased it after the first video. All this Facility is inside a Factory and it has guardian.
0:10 It's an electricity meter, let us know how much KWh we are used.
0:19 All cable have thick shields but your suggestion to put rubber grommets on the hole are very appreciated and seems necessary.

Room temperature is about 40 Degree C that not seems so bad because no one is in the mining room. we have just one Monitoring room that is separated for personnel to monitor all devices from there.
Also the device temperatures are between 50 to 60 Degrees depending on the location of the device.
We are using a local known device calling it cooler to input the cooled air from outside into the mining room and using Great fans to throw out the hot air.
Currently it's summer in Iran and we had no problem yet with our small volcano!
We are installing weekly about 24 more S1's or 5 S2's and we hope that we have no problem with the real volcano that we will have within a month!!!

[sepehr]

LAST HOURS FOR %10 DISCOUNT

JUNE 15, 2014

We hold our first month %10 discount for early contributors until today, 6/15/2014 12:00 GMT.

So after that, our Asset price will increase %10.

Our BTC Price will be 0.7777 BTC per Asset. We may amend this price according to last updates from custom clearance for S2 Antminers.

[sepehr]

LAST UPDATES 6/15/2014

ForgeCoin= 0.7 BTC/Asset
ForgeCoin= 5900 NXT/Asset
Sold Assets: 100.957 of 175 Total
Ordered S2's: 2
Installed S2's: 0
Ordered S1's: 58
Installed S1's: 52
Current Hash Est: 9.36 Th/s
Daily income Est: 0.40 BTC
Main Mining Account:
19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5


FOLLOW US ON TWITTER

Follow @ForgeCoin

[gondel]

Hello,
How profitable can be this and how much i need to invest first. I might be interested in this!
Can you please send me more info via PM.
Thank you a lot
BR
Gondel

[sepehr]

Hello,
How profitable can be this and how much i need to invest first. I might be interested in this!
Can you please send me more info via PM.
Thank you a lot
BR
Gondel

Hello Gondel,

We are mining in a country with cheap electricity about 0.01$/KWh.
We have a total capacity of 175 Slots for each slot equivalent to 180 Gh/s or an S1 Antminer.
Currently after one month from our IPO we have sold about 100 Slots.
You can invest any amount.
Our asset is available in NXT Asset Exchange.
You can pay by BTC which we prefer or NXT as you wish.
We are paying dividends weekly.
ROI is estimated to be about 4 Months.

For more information please visit our website: http://ForgeCo.in

Let me know if any more information you need.

Regards,
Sepehr

Send you PM as well

[sepehr]

LAST UPDATES 6/15/2014

ForgeCoin= 0.7777 BTC/Asset
ForgeCoin= 6500 NXT/Asset
Sold Assets: 100.957 of 175 Total
Ordered S2's: 2
Installed S2's: 0
Ordered S1's: 58
Installed S1's: 52
Current Hash Est: 9.36 Th/s
Daily income Est: 0.40 BTC
Main Mining Account:
19iBDXTiP5cAqgA3jFvzAXGAZZ6VnFZNt5


FOLLOW US ON TWITTER

Follow @ForgeCoin

[sepehr]

FIRST S2 CUSTOM CLEARANCE SUCCEEDED

JUNE 16, 2014

It’s our pleasure to inform that first S2 Antminer custom clearance was succeeded.

It is very hard process in this country and it’s successful clearance was really a victory!

So we have placed new order for 6 more S2 Antminers just now.

First S2 Antminer is received today and we will update about it’s installation process ASAP.

[sepehr]

BTC PRICE UPDATED

JUNE 16, 2014

As the Custom charges have been updated for S2 Antminers, We are amending our Asset price to 0.9 BTC per ForgeCoin Asset.

It’s noteworthy that S2 devices, price per Hash is more expensive than S1 Devices price per Hash, But they almost use half power, So we can install more S2′s than the 175 S1s that we estimated before. and pay even less electricity costs per Asset.

This Asset price includes: 180 Gh/s share of an S2 Antminer, Custom costs, and Installation Costs

Other costs like Electricity costs, Managment costs, Rent costs, Internet costs, Personnel costs will deduct from Mining income and then the dividends will pay.