[796.com] RedStarMining.com - the oldest public mining security [15.0(TH/s)]

[matthewh3]

Now the BFL order is defiantly under way I might as well order the £25 RaspberryPi 5W PC as don't want to have to set the boards up on 86x64PC then have to move them all over to the ArmPC and have to set them all up again.  As there is a time wait for RaspberryPi as well.  Also will order a ten port powered USB hub I have seen for £6 I know the IPO is only paying for three USB boards but we might as well think ahead for the price of £6 as the RaspberryPi only has one USB2.0 port?

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[marked]

... but we might as well think ahead for the price of £6 as the RaspberryPi only has one USB2.0 port?

The model B is the one you'll be purchasing and having obviously looked at the specifications closely:

http://www.raspberrypi.org/faqs

GENERAL

What’s the difference between Model A and Model B?

Model A has 128Mb of RAM Model A has been redesigned to have 256Mb RAM, one USB port and no Ethernet (network connection). Model B has 256Mb RAM, 2 USB port and an Ethernet port.

marked

[matthewh3]

... but we might as well think ahead for the price of £6 as the RaspberryPi only has one USB2.0 port?

The model B is the one you'll be purchasing and having obviously looked at the specifications closely:

http://www.raspberrypi.org/faqs

GENERAL

What’s the difference between Model A and Model B?

Model A has 128Mb of RAM Model A has been redesigned to have 256Mb RAM, one USB port and no Ethernet (network connection). Model B has 256Mb RAM, 2 USB port and an Ethernet port.

marked

Thanks also I meant the ten port powered USB hub for £6.  The RaspberryPi costs nearly £30 including VAT at 20% hopefully the delivery will be less than £5.

[matthewh3]

Summary

1.32MH/s per share and 4.27MH/s per BTC invested and 50BTC generated from £20 of electric all profits 1900 ways should pay 0.00578947BTC dividend per share weekly currently only valued 0.3BTC per share who is currently offering better than that?  All the funds raised are to just to purchase equipment I only kept 50 shares from 1900 for setting up the company, running the company and paying the first months electricity costs.

[matthewh3]

I'd like to say a big thank you  to all the investors who made the purchase of the first ASIC/FPGA board possible.  You can expect you first dividend shortly one week after it's delivered.  Then I can continue the IPO with the dividends from my 200+ shares (bought over 150+) dividends and out of my own pocket also.  Again thank you very much 

[matthewh3]

I've been offered a product very similar to the BFL but uses only half the power and should cost less than $1000 the company will be going public very soon.  Shall we work towards that instead of BFL unit two or even ask for our money back from BFL to order this new product.  It would probably be delivered around the same time as the first BFL we have ordered and we shouldn't have to pay import tax.  What do the current shareholders think continue with the plan of getting three BFL-Singles, or work towards the new similar unit but at only 40W half the BFL power consumption with the rest of the IPO funds, or ask for a refund from BFL to purchase the new board?  As BFL haven't even give us a shipping date so will have plenty people wanting our reserved board if we did go for a refund to get the new unit which runs at only 40W half the power of the BFL for the same MH/s rate but will cost up to $1000 then we would have first choice on the the fist delivery.  The new company are just burning in there prototype and building a business plan before going public very soon but the CEO is a close friend so could make sure we get one as soon as the company goes public very soon.

[zapeta]

I've been offered a product very similar to the BFL but uses only half the power and should cost less than $1000 the company will be going public very soon.  Shall we work towards that instead of BFL unit two or even ask for our money back from BFL to order this new product.  It would probably be delivered around the same time as the first BFL we have ordered and we shouldn't have to pay import tax.  What do the current shareholders think continue with the plan of getting three BFL-Singles, or work towards the new similar unit but at only 40W half the BFL power consumption with the rest of the IPO funds, or ask for a refund from BFL to purchase the new board?  As BFL haven't even give us a shipping date so will have plenty people wanting our reserved board if we did go for a new refund to get the new unit which runs at only 40W half the power of the BFL for the same MH/s rate but will cost up to $100 then we would have first choice on the the fist delivery.  The new company are just burning in there prototype and building a business plan before going public very soon but the CEO is a close friend so could make sure we get one as soon as the company goes public very soon.

I do think that BFL has a good product based on what they have delivered, however the constant delays in manufacture and shipping are a big concern to me.  I'd really like to get a better idea of the specifications of the alternative hardware, but if we can get something comparable in price and efficiency, and actually receive it in 4-6 weeks I would be for it.  The longer that we have to wait for hardware, the longer it will take to generate dividends. 

[matthewh3]

We can either continue with the plan for 3 BFL-Singles, or one BFL and one of the new units same hash rate as BFL but only half the wattage, or we can ask for a full refund to purchase the new board at the same hash rate of the BFL but half the wattage then with the rest of the IPO by another of these new boards.  It would lower us from 2.5GH/s but would also lower the company's (GH/s)/W therefore increasing profits.  The new company's board is just being burned in and they are just finalising their business plan before going public but we could receive a board of them within four weeks off them if we cancel the BFL order and get our money back.  What do the current shareholders think 3xBFL, 1xBFL & 1xnew board or 2xnew board?

[matthewh3]

I've been offered a product very similar to the BFL but uses only half the power and should cost less than $1000 the company will be going public very soon.  Shall we work towards that instead of BFL unit two or even ask for our money back from BFL to order this new product.  It would probably be delivered around the same time as the first BFL we have ordered and we shouldn't have to pay import tax.  What do the current shareholders think continue with the plan of getting three BFL-Singles, or work towards the new similar unit but at only 40W half the BFL power consumption with the rest of the IPO funds, or ask for a refund from BFL to purchase the new board?  As BFL haven't even give us a shipping date so will have plenty people wanting our reserved board if we did go for a new refund to get the new unit which runs at only 40W half the power of the BFL for the same MH/s rate but will cost up to $100 then we would have first choice on the the fist delivery.  The new company are just burning in there prototype and building a business plan before going public very soon but the CEO is a close friend so could make sure we get one as soon as the company goes public very soon.

I do think that BFL has a good product based on what they have delivered, however the constant delays in manufacture and shipping are a big concern to me.  I'd really like to get a better idea of the specifications of the alternative hardware, but if we can get something comparable in price and efficiency, and actually receive it in 4-6 weeks I would be for it.  The longer that we have to wait for hardware, the longer it will take to generate dividends. 

I know the new company's CEO very well so we are guaranteed one of the very first for sale units which he has told me should be ready within four weeks.  It's about the same hash rate of the BFL-Single at 800MH/s but only half the wattage at 40W although costs a bit more at up to $1000 (tho should be less than that [mates rates and all that  ]) but we wouldn't have to pay around £100 ($157) import duties.

[bulanula]

I've been offered a product very similar to the BFL but uses only half the power and should cost less than $1000 the company will be going public very soon.  Shall we work towards that instead of BFL unit two or even ask for our money back from BFL to order this new product.  It would probably be delivered around the same time as the first BFL we have ordered and we shouldn't have to pay import tax.  What do the current shareholders think continue with the plan of getting three BFL-Singles, or work towards the new similar unit but at only 40W half the BFL power consumption with the rest of the IPO funds, or ask for a refund from BFL to purchase the new board?  As BFL haven't even give us a shipping date so will have plenty people wanting our reserved board if we did go for a new refund to get the new unit which runs at only 40W half the power of the BFL for the same MH/s rate but will cost up to $100 then we would have first choice on the the fist delivery.  The new company are just burning in there prototype and building a business plan before going public very soon but the CEO is a close friend so could make sure we get one as soon as the company goes public very soon.

I do think that BFL has a good product based on what they have delivered, however the constant delays in manufacture and shipping are a big concern to me.  I'd really like to get a better idea of the specifications of the alternative hardware, but if we can get something comparable in price and efficiency, and actually receive it in 4-6 weeks I would be for it.  The longer that we have to wait for hardware, the longer it will take to generate dividends. 

I know the new company's CEO very well so we are guaranteed one of the very first for sale units which he has told me should be ready within four weeks.  It's about the same hash rate of the BFL-Single at 800MH/s but only half the wattage at 40W although costs a bit more at up to $1000 (tho should be less than that [mates rates and all that  ]) but we wouldn't have to pay around £100 ($157) import duties.

Got more details about this new FPGA

I am very interested if this is from a UK company or the like.

Thanks !

[matthewh3]

I've been offered a product very similar to the BFL but uses only half the power and should cost less than $1000 the company will be going public very soon.  Shall we work towards that instead of BFL unit two or even ask for our money back from BFL to order this new product.  It would probably be delivered around the same time as the first BFL we have ordered and we shouldn't have to pay import tax.  What do the current shareholders think continue with the plan of getting three BFL-Singles, or work towards the new similar unit but at only 40W half the BFL power consumption with the rest of the IPO funds, or ask for a refund from BFL to purchase the new board?  As BFL haven't even give us a shipping date so will have plenty people wanting our reserved board if we did go for a new refund to get the new unit which runs at only 40W half the power of the BFL for the same MH/s rate but will cost up to $100 then we would have first choice on the the fist delivery.  The new company are just burning in there prototype and building a business plan before going public very soon but the CEO is a close friend so could make sure we get one as soon as the company goes public very soon.

I do think that BFL has a good product based on what they have delivered, however the constant delays in manufacture and shipping are a big concern to me.  I'd really like to get a better idea of the specifications of the alternative hardware, but if we can get something comparable in price and efficiency, and actually receive it in 4-6 weeks I would be for it.  The longer that we have to wait for hardware, the longer it will take to generate dividends. 

I know the new company's CEO very well so we are guaranteed one of the very first for sale units which he has told me should be ready within four weeks.  It's about the same hash rate of the BFL-Single at 800MH/s but only half the wattage at 40W although costs a bit more at up to $1000 (tho should be less than that [mates rates and all that  ]) but we wouldn't have to pay around £100 ($157) import duties.

So the whole IPO would generate about 1.6GH/s at 90W instead of 2.5GH/s at 250W.  The new plan would give us 1.6GH/s@17.7(MH/s)/W the old plan 2.4GH/s@10(MH/s)/W a very tough call!

[matthewh3]

I've been offered a product very similar to the BFL but uses only half the power and should cost less than $1000 the company will be going public very soon.  Shall we work towards that instead of BFL unit two or even ask for our money back from BFL to order this new product.  It would probably be delivered around the same time as the first BFL we have ordered and we shouldn't have to pay import tax.  What do the current shareholders think continue with the plan of getting three BFL-Singles, or work towards the new similar unit but at only 40W half the BFL power consumption with the rest of the IPO funds, or ask for a refund from BFL to purchase the new board?  As BFL haven't even give us a shipping date so will have plenty people wanting our reserved board if we did go for a new refund to get the new unit which runs at only 40W half the power of the BFL for the same MH/s rate but will cost up to $100 then we would have first choice on the the fist delivery.  The new company are just burning in there prototype and building a business plan before going public very soon but the CEO is a close friend so could make sure we get one as soon as the company goes public very soon.

I do think that BFL has a good product based on what they have delivered, however the constant delays in manufacture and shipping are a big concern to me.  I'd really like to get a better idea of the specifications of the alternative hardware, but if we can get something comparable in price and efficiency, and actually receive it in 4-6 weeks I would be for it.  The longer that we have to wait for hardware, the longer it will take to generate dividends. 

I know the new company's CEO very well so we are guaranteed one of the very first for sale units which he has told me should be ready within four weeks.  It's about the same hash rate of the BFL-Single at 800MH/s but only half the wattage at 40W although costs a bit more at up to $1000 (tho should be less than that [mates rates and all that  ]) but we wouldn't have to pay around £100 ($157) import duties.

Got more details about this new FPGA

I am very interested if this is from a UK company or the like.

Thanks !

I'm not answering any other posts about this new FPGA company apart from there would be units shipped from the UK so please no more questions.  There will be an announcement from them very soon thats all I can say.  Thank you posts from shareholders only please about our course of action or I'll have to lock the thread.

[matthewh3]

I've been offered a product very similar to the BFL but uses only half the power and should cost less than $1000 the company will be going public very soon.  Shall we work towards that instead of BFL unit two or even ask for our money back from BFL to order this new product.  It would probably be delivered around the same time as the first BFL we have ordered and we shouldn't have to pay import tax.  What do the current shareholders think continue with the plan of getting three BFL-Singles, or work towards the new similar unit but at only 40W half the BFL power consumption with the rest of the IPO funds, or ask for a refund from BFL to purchase the new board?  As BFL haven't even give us a shipping date so will have plenty people wanting our reserved board if we did go for a new refund to get the new unit which runs at only 40W half the power of the BFL for the same MH/s rate but will cost up to $100 then we would have first choice on the the fist delivery.  The new company are just burning in there prototype and building a business plan before going public very soon but the CEO is a close friend so could make sure we get one as soon as the company goes public very soon.

I do think that BFL has a good product based on what they have delivered, however the constant delays in manufacture and shipping are a big concern to me.  I'd really like to get a better idea of the specifications of the alternative hardware, but if we can get something comparable in price and efficiency, and actually receive it in 4-6 weeks I would be for it.  The longer that we have to wait for hardware, the longer it will take to generate dividends. 

I know the new company's CEO very well so we are guaranteed one of the very first for sale units which he has told me should be ready within four weeks.  It's about the same hash rate of the BFL-Single at 800MH/s but only half the wattage at 40W although costs a bit more at up to $1000 (tho should be less than that [mates rates and all that  ]) but we wouldn't have to pay around £100 ($157) import duties.

So the whole IPO would generate about 1.6GH/s at 90W instead of 2.5GH/s at 250W.  The new plan would give us 1.6GH/s@17.7(MH/s)/W the old plan 2.4GH/s@10(MH/s)/W a very tough call!

Although it would generate 1.6GH/s@17.7(MH/s)/W but we would have funds raised from the IPO towards the third board from this new company and once the IPO is over I'm putting in a motion to save 2/3rds of profits towards expansion until we reach 10GH/s then re-evaluate the expansion strategy. 

[zapeta]

So the whole IPO would generate about 1.6GH/s at 90W instead of 2.5GH/s at 250W.  The new plan would give us 1.6GH/s@17.7(MH/s)/W the old plan 2.4GH/s@10(MH/s)/W a very tough call!

Although it would generate 1.6GH/s@17.7(MH/s)/W but we would have funds raised from the IPO towards the third board from this new company and once the IPO is over I'm putting in a motion to save 2/3rds of profits towards expansion until we reach 10GH/s then re-evaluate the expansion strategy. 

My preference is to switch to the new company for two reasons.  First, we could actually have hardware mining in 4-6 weeks instead of waiting on BFL.  Secondly, the hardware would be more efficient and we should do what we can to minimize our monthly expenses. 

[matthewh3]

So the whole IPO would generate about 1.6GH/s at 90W instead of 2.5GH/s at 250W.  The new plan would give us 1.6GH/s@17.7(MH/s)/W the old plan 2.4GH/s@10(MH/s)/W a very tough call!

Although it would generate 1.6GH/s@17.7(MH/s)/W but we would have funds raised from the IPO towards the third board from this new company and once the IPO is over I'm putting in a motion to save 2/3rds of profits towards expansion until we reach 10GH/s then re-evaluate the expansion strategy. 

My preference is to switch to the new company for two reasons.  First, we could actually have hardware mining in 4-6 weeks instead of waiting on BFL.  Secondly, the hardware would be more efficient and we should do what we can to minimize our monthly expenses. 

OK I agree even tho the IPO will now only raise 1.6GH/s then instead of 2.5GH/s we'll have money towards new company's board #3 and we'll have a lower electricity bill.  So I'll speak to the owner of this new company and see if he can confirm within four weeks for dispatch (he is testing prototypes) and as long as it beats BFL warranty then'll I'll ask BFL for a refund of £449.15($687) PayPal payment and we have nearly 70BTC as well to play with that has so far been raised.  If BTC exchange rates treat us kindly we could still have enough IPO funds raised to buy three of the new boards keeping us at 2.5GH/s but at only half the electricity rates so the electric bill from 2.5GH/s would only be £10 a month from three of these new boards run off a RaspberryPi even tho at todays difficulty rates we'd be making 50BTC a month.

[zapeta]

you should do a motion

I vote for the BFSingle, just another 2 or 3 weeks till they deliver

2xBF single
1x New board

You're making the assumption that BFL will deliver in the 4-6 week timeframe but it seems to me that they haven't really been meeting this estimate.  From what I've read, it actually seems like 8-12 weeks, but I suppose there is a chance that they'll meet the deadline.

[matthewh3]

you should do a motion

I vote for the BFSingle, just another 2 or 3 weeks till they deliver

2xBF single
1x New board

You're making the assumption that BFL will deliver in the 4-6 week timeframe but it seems to me that they haven't really been meeting this estimate.  From what I've read, it actually seems like 8-12 weeks, but I suppose there is a chance that they'll meet the deadline.

The new company has promised me to have it delivered with four weeks and also give me twelve months warranty beating BFL six months.  So used up all funds including the import duty funds of the BFL as a deposit 75BTC in total (valued at £250 or $390) and asked for a refund from BFL.  My friend the CEO of the new company as offered to pay the import duty of the BFL if they won't refund.  The new company is going public very soon (I have been working on there website and will probably be acting as UK/EU reseller) they are just finalising on the best price they can offer but I should receive mates rates and the first board for sale. 

[matthewh3]

So now with BTC rising a bit in value its 2.5GH/s@130W raised from the IPO or 50BTC generated at today's difficulty rates for £10 electric.  I could probably get the deposit refunded if this is against the views of most share holders and he has offered to pay the import tax of the BFL-Single ordered out of his own pocket if they won't refund.

[matthewh3]

the way forward is to decide via motion

shareholders should vote on what to choose

put up a motion

I'll vote for BFS

Well my 25% ownership of all shares so far sold vote for the new company.  Also as CEO and administrator of over 50% of total company shares which are still unsold that would keep full control of any decision.  Plus who is selling shares at 2.9999999BTC are they just trying to get out of the investment or slow the IPO down 

[matthewh3]

So now with BTC rising a bit in value its 2.5GH/s@130W raised from the IPO or 50BTC generated at today's difficulty rates for £10 electric.  I could probably get the deposit refunded if this is against the views of most share holders and he has offered to pay the import tax of the BFL-Single ordered out of his own pocket if they won't refund.

We are now getting 50BTC generated for every £10 of electric instead of 50BTC generated for around £25 of electric so more profit.  I know the plan has changed but every time for an increased profit and this way will be faster as BFL have only just started shipping and are still shipping December orders and we didn't order until the end of February.  We can rest assured that my friend and business partner will ship the new boards before BFL unless BFL turn round and say sorry but we have just gone and shipped it.  In which case he offered to pay the £100 import duties for me making a deposit (which cuts down his lending costs) he already has his first board assembled and is burning it in.  He will priority mail it as soon as BFL refund us.