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

[bizz]

Didn't have any problems so far with 796. Probably some ddos took them down. Hope they're back soon.

[1714136817]

1714136817

[1714136817]

1714136817

[moses]

thanks guys. it still sucks they´re down, but at least i´m not so much worried about my funds now.

[bizz]

thanks guys. it still sucks they´re down, but at least i´m not so much worried about my funds now.

after some searching found this post from 796 in Chinese (google translate):

Tonight I am sorry 796 Exchange investors, because the server is under attack and the international room room technician on duty today no cause can not deal with the problem quickly. Although we have sent technical personnel in the past, but still have to wait until tomorrow before they can enter, we will be unable to visit in the morning to solve the problems as soon as possible, and it will replace the engine room.

[matthewh3]

Our Google+ group now has the URL - www.google.com/+redstarmining

[tekke]

When would be paid the second round of dividens?  according to this post:

Christopher Halbersma6 October 2013 20:48
Dividend was for shareholders as of the first. You'll be on the list for dividends scheduled on November 1st.

It shoud have been 3 days ago.

[pidge]

My fault - I'd not received my KNC#2 share allocation, and I'm in NZ, causing delays with letting people know that I've now got them.

[796]

An account was automatically created for me at 796.com using my BTCT email address and I have logged in and verified that my RSM shares are in it, thank you!

But I already had an account at 796.com under a different username and email address, and I prefer to have everything in one account so I do not have to log into two different 796 accounts to see how my complete portfolio is doing... Is there a way I can transfer my shares from my second 796 account to my first one so that I will have everything in one account?

Thanks!

please PM me your two 796.com account, i will help to combine it.

[chalbersma]

October Summary

Current Hardware

We had some issues with KNC hardware that got resolved reasonable quickly. We also sold our BFL SC's and the proceeds from that we were planning on spending on a Terrahash Miner. Terrahash hasn't shipped as we expected but the good news is that we did not spend on a pre-order. We are currently looking at new hardware options. Head over to loomio for the latest discussion on that.

Also our second KNC Miner arrived and is hashing putting us at about 1 - 1.1TH/s depending on performance.


New Exchange

RSM is up and running with 796.com and our first dividend of 2.216 µBTC has been paid. Please do note that this was originally reported as 2216 µBTC when I should have said 2216 satoshi. That was a math error on my part and I apologize for the confusion.

Unclaimed Shares

If your an investor who never updated their BTT public address or hasn't claimed their KNC shares let me know and we will get those transferred over to you A.S.A.P. Do keep in mind that share transfers on 796 are manual and not instant. But 796 has been extremely professional and timely in getting them transferred over so I don't foresee an issue.

Communications

We have loomio, the blog, the Google Plus Group and of course the Twitters @redstarmining. And of course you can always email us if you need to. Or leave a comment in our bitcointalk thread.

[tekke]

Shouldn't the shareholders who hadn't enough shares in the first dividends payout get more in this dividends payout? , I mean, it should be the part of the first dividens that wasnt paid because was too small + this dividends ?

[chalbersma]

Shouldn't the shareholders who hadn't enough shares in the first dividends payout get more in this dividends payout? , I mean, it should be the part of the first dividens that wasnt paid because was too small + this dividends ?

Indeed we're working on getting those out. 796 has a coupon system for off chain transactions. We're looking at that to send out the dust and we're working with 796 on the best way going forward to pay those out.

[tekke]

Indeed we're working on getting those out. 796 has a coupon system for off chain transactions. We're looking at that to send out the dust and we're working with 796 on the best way going forward to pay those out.

Thanks for your fast reply

[chalbersma]

Indeed we're working on getting those out. 796 has a coupon system for off chain transactions. We're looking at that to send out the dust and we're working with 796 on the best way going forward to pay those out.

Thanks for your fast reply

NP. It's a legitimate question and concern.

[chalbersma]

Jupiter Back on Nasty Pool

After technical difficulties, the new firmware plus our Jupiter KNC miners are back on Nasty's P2Pool. You can view our current hashrate here and view address: 1KMLjhgjGLxZTJT5TSWxV2HCZHBqpDEpa1.

Jupiter #3 Purchased Today

With the recent price rises the board and a majority of shareholders thought it wise to purchase a third 550(GH/s)@28nm KNC Jupiter today for 17BTC. With no other manufactures shipping 28nm devices yet and the 11.5BTC from the BFL sale in effect only 5.5BTC was spent on this purchase. We’re currently hoping on making the 17BTC laid out back within about nine weeks currently off this device. While we’re also currently planning on making another 10BTC on top of that off this device before selling it once we’re hashing on KNC generation two 20nm/16nm gear.

This move will boost future dividends and the stock buyback fund by 50%. Which will only help the share price. Currently all other 28nm manufactures are delayed until December at the very earliest. While the acceleration in network difficulty growth is slowing rapidly because of this.
If bitcoin was to rally over $500 while KNC still have Jupiters in stock (currently less than 80) a fourth unit would be purchased. The move to bag this third Jupiter used only around 25% of our current growth fund. The growth fund will now be raised to over $20,000 or over 60BTC (whichever is first) before any more ASIC purchases take place.

[Tafelpoot]

Is the 3rd KNC miner running now or isn't it delivered yet?

On the current hashrate graph I see only 130GH/s these days ... where is the other 1.5 TH?

[chalbersma]

Is the 3rd KNC miner running now or isn't it delivered yet?

On the current hashrate graph I see only 130GH/s these days ... where is the other 1.5 TH?

We have not received our third KNC miner as of yet. We were having some problems on P2P and have moved back to Giga for the moment while we try to sort the issues out.

[matthewh3]

Can I ask some of the older shareholders who've been with RSM the longest to give my trust rating some feedback - https://bitcointalk.org/index.php?action=profile -  Unfortunatly I am unable to recipricate unless I have had to trust you yet with anything valuable yet.

[chalbersma]

Neptunes Coming to RSM

RSM has pre-ordered three KnC Gen 2 Miners (dubbed Neptune; technically this may be considered a Gen 3 or 4 product in general ASIC terms as 110nm & 55nm tech may be considered Gen 1 & 2) which are scheduled to be 20nm machines running at 3TH/s. Each unit costs $10,000 and is expected to be mining around March or April of 2014.

This order, when filled, will bring RSM's total hashrate from 1.2TH/s to 10.2TH/s (8.633MH/s/share to 73.381MH/s/share). This calculation does not include the third KnC Gen 1 miner that we expect to ship by the end of the week and hashing the week after. With that miner we will be at 10.75TH/s (77.3381MH/s/share).

RSM will consider selling our Gen 1 hardware once our Gen 2 hardware is up and hashing as we did with our BFL hardware.

Some have suggested that based on KnC's previous order history and their track record of increasing hashrates we should assume a higher hashrate than they are advertising. RSM is hopeful that KnC will continue this fine tradition but we cannot base our projections of that hope. We thank you for understanding.

[tekke]

Great news!!! thanks for the update

[ft73]

Can I ask some of the older shareholders who've been with RSM the longest to give my trust rating some feedback - https://bitcointalk.org/index.php?action=profile -  Unfortunatly I am unable to recipricate unless I have had to trust you yet with anything valuable yet.

Not an old shareholder, but you've got my trust.

[chalbersma]

Neptune Number Four Ordered

RSM has re-evaluated it's position and chosen to purchase a 4th Neptune preorder from reserves. This increases our projections of future hash rate from 10.75TH/s to 13.75TH/s (77.3381MH/s/share to 0.098GH/s/share).

These Neptune like the last ones are scheduled to run at 3TH/s and have a 20nm architecture providing excellent performance specification.

RSM will still consider selling our Gen 1 hardware once our Gen 2 hardware is up and hashing.