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

[nedbert9]

The board supplier is just waiting for his final parts to assemble our board which should be recived by the end of the week so hopefully he can ship it next week 

So all going well the board will be hashing away a week on Friday with the first dividend paid eight days later. So the first dividend should be paid by in just over two weeks time (13th - 16th of March).  With only 800 shares only so far sold from the IPO and if the board runs as expected the first weekly dividend should be over 0.00400BTC

Congratulations, matthewh3

[Nefario]

The board supplier is just waiting for his final parts to assemble our board which should be recived by the end of the week so hopefully he can ship it next week 

So all going well the board will be hashing away a week on Friday with the first dividend paid eight days later. So the first dividend should be paid by in just over two weeks time (13th - 16th of March).  With only 800 shares only so far sold from the IPO and if the board runs as expected the first weekly dividend should be over 0.00400BTC

Great news, have you had any trouble using GLBSE2.0?

[matthewh3]

The board won't be shipped on Monday tho the supplier said it will still be within the four week timetable from the 13th when I paid.  He's waiting for a part from China tho he has paid for super express shipping but there having a festival on the 2nd - 4th so won't be shipped on those days.  Looks like he'll get the final part next Friday unless they ship on Saturday or Sunday (which they might do in China?).  The boards will be nearly completed by Monday and then they can just fit the final part in when they arrive and ship the same day.

[DeathAndTaxes]

Parts?  What are these boards hand made?

[matthewh3]

Parts?  What are these boards hand made?

Assembled by hand.

[matthewh3]

Thank you to the investor(s) over the last 24hrs    Does anyone have a view on what mining pool to use?  I want to use P2Pool for the health of the bitcoin network but I understand then I wouldn't be able to show live stats.  So I thought of this pool - https://mtred.com/ - As it offers PPS, 0% fees, merged mining and offers web stats plus Android stats on the mining.  What do investors think?

[zapeta]

Thank you to the investor(s) over the last 24hrs    Does anyone have a view on what mining pool to use?  I want to use P2Pool for the health of the bitcoin network but I understand then I wouldn't be able to show live stats.  So I thought of this pool - https://mtred.com/ - As it offers PPS, 0% fees, merged mining and offers web stats plus Android stats on the mining.  What do investors think?

I've used MtRed in the past and it is a reliable pool.

[DeaDTerra]

Thank you to the investor(s) over the last 24hrs    Does anyone have a view on what mining pool to use?  I want to use P2Pool for the health of the bitcoin network but I understand then I wouldn't be able to show live stats.  So I thought of this pool - https://mtred.com/ - As it offers PPS, 0% fees, merged mining and offers web stats plus Android stats on the mining.  What do investors think?

I would suggest taking advantage of such pools as https://bitcointalk.org/index.php?topic=54467.0 and possible have mtred as a backup? to maximize the profits
//DeaDTerra

[matthewh3]

Thank you to the investor(s) over the last 24hrs    Does anyone have a view on what mining pool to use?  I want to use P2Pool for the health of the bitcoin network but I understand then I wouldn't be able to show live stats.  So I thought of this pool - https://mtred.com/ - As it offers PPS, 0% fees, merged mining and offers web stats plus Android stats on the mining.  What do investors think?

I would suggest taking advantage of such pools as https://bitcointalk.org/index.php?topic=54467.0 and possible have mtred as a backup? to maximize the profits
//DeaDTerra

Thanks for the idea but looks like the payouts have been a bit unstable recently and I need stability plus the ability to show investors the current hashing power for a while.  Once the dividends are regular I will be switching to P2Pool for the benefit of the health of the bitcoin network.

[guruvan]

Thank you to the investor(s) over the last 24hrs    Does anyone have a view on what mining pool to use?  I want to use P2Pool for the health of the bitcoin network but I understand then I wouldn't be able to show live stats.  So I thought of this pool - https://mtred.com/ - As it offers PPS, 0% fees, merged mining and offers web stats plus Android stats on the mining.  What do investors think?

I'm a big fan of p2pool. Do you know that the hardware is going to work with it? I know the BFLs have issues with the p2pool sharechain. If it works, I'd be interested to see a minimum dedication to p2pool, and some portion of the gear point to the most profitable.

I'm also a big fan of merged mining. It may not be super important or profitable now, but with discussions underway to change namecoin fee structures, it may be in the future.

[matthewh3]

Thank you to the investor(s) over the last 24hrs    Does anyone have a view on what mining pool to use?  I want to use P2Pool for the health of the bitcoin network but I understand then I wouldn't be able to show live stats.  So I thought of this pool - https://mtred.com/ - As it offers PPS, 0% fees, merged mining and offers web stats plus Android stats on the mining.  What do investors think?

I'm a big fan of p2pool. Do you know that the hardware is going to work with it? I know the BFLs have issues with the p2pool sharechain. If it works, I'd be interested to see a minimum dedication to p2pool, and some portion of the gear point to the most profitable.

I'm also a big fan of merged mining. It may not be super important or profitable now, but with discussions underway to change namecoin fee structures, it may be in the future.

Well "owt for nowt" the NMC is free.

edit:  "owt for nowt" is northern England colloquial meaning "anything for nothing"

[guruvan]

Precisely! Money for nothing! Also, I'm definitely of a mind that future use will come of merged mining, and it's good to support it now.

[matthewh3]

I'll probably just hoard all the NMC rather than sell them for peanuts to add to the dividend.  Although I may trade them on exchanges to increase there value (I've done that with LTC/USD and LTC/BTC and been profiting for a while now) until there value is higher.  We could use the NMC generated or the profits from trading them to help boost the expansion of more FPGA boards.

[guruvan]

I'll probably just hoard all the NMC rather than sell them for peanuts to add to the dividend.  Although I may trade them on exchanges to increase there value (I've done that with LTC/USD and LTC/BTC and been profiting for a while now) until there value is higher.  We could use the NMC generated or the profits from trading them to help boost the expansion of more FPGA boards.

If you're trading well, I'm all for it. If you wind up just selling off the NMC, check into the namecoin forums and discussions before you let go of too much. If they do reorganize the fee structure, NMC would definitely increase significantly in value.

[matthewh3]

Thanks to everyone who has invested over the last few days as we now have enougth for FPGA board #2.  As soon as I get a shipping number for board #1 (which is guaranteed before the 13th April) I'll pay for board #2 which should be shipped right away.  I have contacted the supplier about our order for board #2.  Again thank you very much every one 

[matthewh3]

The supplier saying if we order and pay for board #2 now we'll have the first one from the next batch.  He wants $1129 tho (not $999 like the last board I got us discounted) and $70 shipping but it still works out cheaper than two of the new x6500 FPGA boards which is what we would need to equal both the hashing power and efficiency.  Shall we wait till we get our tracking number, received it or pay now to guarantee our board is first as he is going public in the next week so we may end up in the order cue like everyone else.  If we pay now it will be shipped within three weeks otherwise we may be caught in the order backlog once they go public within the next week.  FPGA board #1 is guaranteed to be shipped within the next nine days.  So what do current investors think?

[guruvan]

My suspicion is that you're not at a point where having the cash at hand for the extra time is going to earn enough to make the potential lost mining time worthwhile. Buy now, guarantee income

[matthewh3]

Hopefully the first dividend should be paid in just over two weeks I'm predicting the weekly dividend per share in five weeks to be ~0.00333BTC.  After the IPO is over a vote will be held on whether to issue ~400 more shares at 0.31BTC to purchase board #3 that would take the weekly dividend per share to 0.0045BTC.

[matthewh3]

It's very likely board #1 will ship this Monday as the supplier has all the parts he's just assembling the boards and testing them (we have full warranty).  Board #2 is almost completely paid for and guaranteed to ship within three to four weeks.  After board #2 has been delivered and all shares issued I'm predicting the dividend to be 0.00333BTC per share each week at current difficulty and exchange rates.  After the IPO is over and if the motion goes in favour of issuing more shares then they may be offered at 0.4BTC each as the new dividend after the extra shares are issued would be ~0.45BTC per share each week plus it would give early investors the opportunity to cash out at a profit on their early share purchases.  If we do issue more shares me acting as the CEO will keep 5% of them but more shares will only be issued on the basis of raising the dividend significantly.  I only awarded my self 50 shares of the original 1900 shares as the CEO salary and I don't have lots of money to invest that's why I made the company public on the GLBSE to raise the funds but feel I should be paid a salary for being CEO and running the company.  Also once we are operating at 2.4GH/s(@125W) and greater RSM will be keeping 2% of all profits or 1BTC a month whichever is greater to buy back the shares in RSM to increase the company's value.   

[bulanula]

It's very likely board #1 will ship this Monday as the supplier has all the parts he's just assembling the boards and testing them (we have full warranty).  Board #2 is almost completely paid for and guaranteed to ship within three to four weeks.  After board #2 has been delivered and all shares issued I'm predicting the dividend to be 0.00333BTC per share each week at current difficulty and exchange rates.  After the IPO is over and if the motion goes in favour of issuing more shares then they may be offered at 0.4BTC each as the new dividend after the extra shares are issued would be ~0.45BTC per share each week plus it would give early investors the opportunity to cash out at a profit on their early share purchases.  If we do issue more shares me acting as the CEO will keep 5% of them but more shares will only be issued on the basis of raising the dividend significantly.  I only awarded my self 50 shares of the original 1900 shares as the CEO salary and I don't have lots of money to invest that's why I made the company public on the GLBSE to raise the funds but feel I should be paid a salary for being CEO and running the company.  Also once we are operating at 2.4GH/s(@125W) and greater RSM will be keeping 2% of all profits or 1BTC a month whichever is greater to buy back the shares in RSM to increase the company's value.   

What is this "full warranty" and how long is it

Thanks !