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

[matthewh3]

If our two KNC Jupiter's are on time which they look they should be.  We may sell our three BFL SC's in late October to help secure another KNC Jupiter for delivery in mid November.  This would take us from 980(GH/s) to 1.2(TH/s).  Tho if we can save the $5,000 needed to secure a mid November Jupiter through the reinvestment fund.  We may delay the sale of the BFL SC's until mid November.

[matthewh3]

I'm still expecting our second BFL SC Single by the middle of this month.  While KNC have stated both of our 400(GH/s)@28nm Jupiter's will ship by October the 15th.  So within six weeks by the middle of October we should be hashing at the full 980(GH/s).  We've mined our third bitcoin now and we're just waiting for the blocks to confirm to unlock our rewards.

[matthewh3]

Can anyone help me with this spreadsheet - https://docs.google.com/spreadsheet/ccc?key=0Ap02rO_j4NLvdFZuMlZnRDFDUFBhaGdsSm9tWkhna2c#gid=0 - to make the final value 140,000 shares.  Otherwise the new investors are loosing out on 962 shares between them. 

[runam0k]

Can anyone help me with this spreadsheet - https://docs.google.com/spreadsheet/ccc?key=0Ap02rO_j4NLvdFZuMlZnRDFDUFBhaGdsSm9tWkhna2c#gid=0 - to make the final value 140,000 shares.  Otherwise the new investors are loosing out on 962 shares between them.  

Fix D6 (should refer to C6, not C5).

[matthewh3]

Can anyone help me with this spreadsheet - https://docs.google.com/spreadsheet/ccc?key=0Ap02rO_j4NLvdFZuMlZnRDFDUFBhaGdsSm9tWkhna2c#gid=0 - to make the final value 140,000 shares.  Otherwise the new investors are loosing out on 962 shares between them.  

Fix D6 (should refer to C6, not C5).

Thanks 

[matthewh3]

Yesterday BFL had shipped up to August 3rd 2012 SC's and I'm still hoping that we'll receive our August 30th 2012 60(GH/s) SC pre-order by a week on Monday (September 16th)  No new news from KNC or any shipping date yet for our first Jupiter.  There last statement said that we should receive both Jupiter's by October 15th.

[matthewh3]

Pyraming paid us BTC0.3092 last month from our BTC10.00 deposit - https://blockchain.info/address/176wiHdao3y8C2gJdhiQx2Ab8ngoj1YSR4 -  As part of our Pyramining scheme I suggest we pay 3% of our dividend fund into our Pyraming account.  Then increase that amount by an extra 2% of the dividend fund every month for now.  Until eventually 100% of the dividend fund gets paid into Pyraming and 100% of the Pyraming payouts go on dividends.  This will help increase and stabilise the dividend fund in the long term.  If any shareholders want to copy RSM's Pyraming plans with part of your dividends.  Please be sure to get a Pyraming referral off RSM.  So that RSM's account get's a 10% bonus for every referral.  Here's our two current referral links - http://pyramining.com/referral/86ndtq4rx - http://pyramining.com/referral/p4rmzbs8x - you can pay any amount into your own Pyraming account.  So if you do copy RSM's plan and use our referral links you're helping to increase dividends.

If those referral links get used up you can login to RSM's Pyraming account to get new referrals with this address - 1RsRSss66dbgpNmgSaF68YvaT35ev54S8

[matthewh3]

Also another thing we was planning on was a buy back fund.  This would have to be taken from the dividend fund for now until RSM is operating above 1(TH/s).  A buy back fund would help raise share prices and help to increase dividends.  As the shares bought back would basically sterilised and lie dormant forever unless we were ever to do another share issue again.  So it would increase the weight of holdings and dividends for all remaining shares.  RSM would only buy shares for now up to the price BTC0.01 and would build a large bid wall there eventually to stop the price ever going below BTC0.01 again.  The share price of all mining stocks has gone down recently and ~80,000 new RSM shares are to hit the market before November.  To take us up to 7(MH/s) per share from the current 1.06(MH/s) per share.  So it makes sense for RSM to buy back shares aggressively for now.  We can potentially delay this action for now and possibly start it after all the equipment has arrived.  If the average price improves and stays well above BTC0.01 we can delay it indefinitely if decided so.

[lenny_]

Hello, I am new here. Considering investment, but first, need some answers.
Questions:
Why there is no dividends (BTC-TC)? They should be in regular timeframe, if you want this asset to succeed.
What's the equivalent hashrate of each asset share? 1.06 MH/s?
What's current hashrate of whole project?

[matthewh3]

Hello, I am new here. Considering investment, but first, need some answers.
Questions:
Why there is no dividends (BTC-TC)? They should be in regular timeframe, if you want this asset to succeed.
What's the equivalent hashrate of each asset share? 1.06 MH/s?

We've been held up by the BFL pre-order delivery fiasco.  We have another 920(GH/s) due by October 15th.  With 800(GH/s) of that being KNC@28nm ASIC's.  Which will take us up to 7(MH/s) per share.  80,000 new shares are due to hit the market by October ~15th.

[lenny_]

Hello, I am new here. Considering investment, but first, need some answers.
Questions:
Why there is no dividends (BTC-TC)? They should be in regular timeframe, if you want this asset to succeed.
What's the equivalent hashrate of each asset share? 1.06 MH/s?

We've been held up by the BFL pre-order delivery fiasco.  We have another 920(GH/s) due by October 15th.  With 800(GH/s) of that being KNC@28nm ASIC's.  Which will take us up to 7(MH/s) per share.  80,000 new shares are due to hit the market by October ~15th.

Ok, thanks for explanation, but you did not answer any of my questions.
What's current exact share hashrate equivalent?
Why you not paying any dividends? You're in debt or something?

[matthewh3]

Hello, I am new here. Considering investment, but first, need some answers.
Questions:
Why there is no dividends (BTC-TC)? They should be in regular timeframe, if you want this asset to succeed.
What's the equivalent hashrate of each asset share? 1.06 MH/s?

We've been held up by the BFL pre-order delivery fiasco.  We have another 920(GH/s) due by October 15th.  With 800(GH/s) of that being KNC@28nm ASIC's.  Which will take us up to 7(MH/s) per share.  80,000 new shares are due to hit the market by October ~15th.

Ok, thanks for explanation, but you did not answer any of my questions.
What's current exact share hashrate equivalent?
Why you not paying any dividends? You're in debt or something?

No no debt at all, we've only been hashing again nearly two weeks.  With monthly dividends due to start this month.  So far only one of our 60(GH/s) BFL SC's is hashing.  We have two more BFL 60(GH/s) SC pre-orders, August 30th 2012 and 25th of September 2012.  Then we have a 400(GH/s)@28nm KNC Jupiter due this month and another 400(GH/s)@28nm KNC Jupiter due before October 15th.  80,000 new shares are due to be released on delivery of the two KNC Jupiter's to pay for them.  Which means we'll be at 7(MH/s) per share on delivery of both KNC's after the shares are issued to pay for them both.  So currently with one 60(GH/s) SC hashing and another 920(GH/s) due before October 15th.  The new 80,000 shares to pay for the Jupiters will only be issued once they're hashing.

[creativex]

Perhaps the thread title is a source of confusion.

[Tafelpoot]

Mathew, is it possible to update the front page with this info?
Also, please indicate the date when you put an update on the opening post.
People need a clear overview of what is happening, what is coming and what has been.

Omit the website if you don't update it.

[matthewh3]

Mathew, is it possible to update the front page with this info?
Also, please indicate the date when you put an update on the opening post.
People need a clear overview of what is happening, what is coming and what has been.

Omit the website if you don't update it.

Perhaps we need to hire someone to help me with it.  As my main concern has been with the fundraising now we're not fundraising selling RSM to new shareholders is extra work for little reward for me personally.  TBH over selling RSM to new shareholders would hurt my position of trying to buy back as much of RSM as possible.  I'll ask Evelovex and canth if they can help otherwise I'm willing to take a PR person on out of the salary fund.  We could probably pay out up to 20% of the salary fund for the position which equals about 1% of RSM profits.  I could add them to the admin panel of the blogger page and maybe they could help smarten up the contract plus any new news announcements.  Any offers?  I've got dyslexia and my prose is often not the easiest on the eyes to read and follow.

[matthewh3]

These @28nm ASIC's look good with there customer protection program - http://www.coindesk.com/hashfast-tapes-out-400-ghsec-28-nm-mining-chip/ - Something to look at when we order our next ASIC which will hopefully by early November at the latest.

[Cmark0]

What percentage of dividend are you thinking of allocating towards buy backs?

[matthewh3]

What percentage of dividend are you thinking of allocating towards buy backs?

We may create a separate fund for buybacks yet and it may be held off for now.  Or an idea I've just had is to pay up to 10% of the dividend fund into Pyramining.  Then use all the Pyramining profits on buybacks?

[matthewh3]

As of yesterday BFL had shipped up to August 16th SC's.  So I'm still hoping our second SC will start hashing by this Monday.  Which should help the first dividend even tho we need to pay another $265 for two months hosting fees and one installation fee.  KNC said our first Jupiter should ship at the end of the month.  So I expect us to be hashing at 560(GH/s) by October and the full 980(GH/s) within five weeks around the middle of October.

[jeffhuys]

Very nice. At what rate are you hashing at the moment? Also, are there plans already for after the 960ghash?
Really small investor right now, but I plan on investing more!

I'm really happy about your involvement with the community/shareholders. Keep this up!   It's a really important aspect for me (and most likely others).

EDIT: Sorry if my question is redundant and has been answered already.