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

[matthewh3]

Summary

1.043478261MH/s@0.05W per share

A new FPGA company with an aggressive growth strategy the first round of the IPO consisted of 1600 shares at 0.3BTC each to purchase two ~800MH/s@~40W FPGA boards the second round consists off 700 shares at 0.4BTC to purchase FPGA board #3 to take the weekly dividend to over 0.0040000BTC

Once we have board #3 2.4GH/s@125W over 2300 shares the weekly dividend will be over 0.00400000BTC per shares even tho I stated that after we are operating over 2.4GH/s 2% of profits or 1BTC a month [whichever is greater] is going to be used by RSM to buy back its own shares to increase the price and help expand the company.  Apart from that move to expand the company once 2300 shares have sold and we have board #3 I plan on putting forward the motion to issue more shares to purchase board #4 to increase the weekly dividend again.  After that I plan then to put forward the motion for board #5, then #6 and so on each time to increase the weekly dividend.

Can I assure you your investment is fully protected unlike some of our competitors.  In the event of the company folding all the hardware will be sold and paid in one big dividend to all shareholders.

The first weekly dividend of 0.00209389BTC per share has been paid.  3.42560434BTC over 1636 shares.  They are 664 shares left to sell at 0.40BTC as the second part of the IPO to pay for board #3.  Board #2 should ship within the next two weeks.  Expect your next weekly dividend by 00:00am 2012-05-11.

Only ~600 shares remain at 0.40BTC each after they have sold I will be putting forward the motion to issue 600 more shares at an inflated price of a minimum of 0.46BTC per share for the purchase of board #4 to raise the weekly dividend again to a minimum of 0.0047BTC per share a week.

Updated the OP again.

[matthewh3]

Summary

1.043478261MH/s@0.054347826W per share paid per share

2.608695652MH/s@0.135869565W per 1BTC invested

A new FPGA company with an aggressive growth strategy the first round of the IPO consisted of 1600 shares at 0.3BTC each to purchase two ~800MH/s@~40W FPGA boards the second round consists off 700 shares at 0.4BTC to purchase FPGA board #3 to take the weekly dividend to over 0.0040000BTC

Once we have board #3 2.4GH/s@125W over 2300 shares the weekly dividend will be over 0.00400000BTC per shares even tho I stated that after we are operating over 2.4GH/s 2% of profits or 1BTC a month [whichever is greater] is going to be used by RSM to buy back its own shares to increase the price and help expand the company.  Apart from that move to expand the company once 2300 shares have sold and we have board #3 I plan on putting forward the motion to issue more shares to purchase board #4 to increase the weekly dividend again.  After that I plan then to put forward the motion for board #5, then #6 and so on each time to increase the weekly dividend.

Can I assure you your investment is fully protected unlike some of our competitors.  In the event of the company folding all the hardware will be sold and paid in one big dividend to all shareholders.

The first weekly dividend of 0.00209389BTC per share has been paid.  3.42560434BTC over 1636 shares.  They are 664 shares left to sell at 0.40BTC as the second part of the IPO to pay for board #3.  Board #2 should ship within the next two weeks.  Expect your next weekly dividend by 00:00am 2012-05-11.

Only ~600 shares remain at 0.40BTC each after they have sold I will be putting forward the motion to issue 600 more shares at an inflated price of a minimum of 0.46BTC per share for the purchase of board #4 to raise the weekly dividend again to a minimum of 0.0047BTC per share a week.

Another miner update.  Also added this to the company's CoinConnect group - http://www.coinconnect.org/groups/profile/13713/red-star-mining - and the company blog - http://redstarmining.blogspot.co.uk/ - Please join and follow one or both as all company updates go there first plus I can promise the CoinConnect group and blog will last as long as Red Star Mining does.

[matthewh3]

The supplier is now sending us two Rev4 boards with these heatsinks and fans attached - http://www.newegg.com/Product/Product.aspx?Item=N82E16835119079 - So no need to buy any fans now    As these heatsinks and fans will dissipate 25W each and the Sparten6's only use 10W each.  So the chips should stay nice and cool and hash harder for longer.  On receipt of these two boards I will be sending our first Rev1 board back.  I'm hoping he can send us the two Rev4 boards by the end of next week hopefully so look out for the dividends soon increasing.  All we need now is to sell enough shares to purchase board #3 to take the weekly dividend to over 0.0044BTC per share.  The second weekly dividend will be paid by tomorrow 00:00am GMT/UTC Friday (2012-05-12).  Looks like the dividend will be 3.41549576BTC over 1652 shares unless another block is found before 02:00am GMT/UTC tonight or we sell some more shares towards board #3.

[matthewh3]

The second weekly dividend of 0.00209716BTC per share has been paid 3.46452188BTC over 1652 shares.  The weekly dividend per share will increase once we have received board #2 and rise to over 0.0044BTC per week per share once we have sold enough shares for board #3.

[matthewh3]

Our supplier have stated they hope to start shipping the new boards towards the end of next week and we have been promised the first two Rev4 boards to ship.  So expect the weekly dividend to double and then we can work on selling the remaining 648 shares at 0.4BTC to purchase board #3 to take the weekly dividend to over 0.0040btc.  Also those funds will be used to pay for a cheap low power PC and a 600W PSU which should power >10 boards. 
After that I will be putting forward the motion to issue another 600 shares at 0.42BTC to purchase board #4 and take us to 3.2GH/s@2900 shares and an approximate weekly dividend payment per share increase of over 5%.

[bulanula]

Our supplier have stated they hope to start shipping the new boards towards the end of next week and we have been promised the first two Rev4 boards to ship.  So expect the weekly dividend to double and then we can work on selling the remaining 648 shares at 0.4BTC to purchase board #3 to take the weekly dividend to over 0.0040btc.  Also those funds will be used to pay for a cheap low power PC and a 600W PSU which should power >10 boards. 
After that I will be putting forward the motion to issue another 600 shares at 0.42BTC to purchase board #4 and take us to 3.2GH/s@2900 shares and an approximate weekly dividend payment per share increase of over 5%.

Don't you have this already

[matthewh3]

Our supplier have stated they hope to start shipping the new boards towards the end of next week and we have been promised the first two Rev4 boards to ship.  So expect the weekly dividend to double and then we can work on selling the remaining 648 shares at 0.4BTC to purchase board #3 to take the weekly dividend to over 0.0040btc.  Also those funds will be used to pay for a cheap low power PC and a 600W PSU which should power >10 boards. 
After that I will be putting forward the motion to issue another 600 shares at 0.42BTC to purchase board #4 and take us to 3.2GH/s@2900 shares and an approximate weekly dividend payment per share increase of over 5%.

Don't you have this already

We only have one board at the moment and we have paid for two.  Plus we are now getting new version of the board with a different heatsink with fans.  So should hash harder for longer.

[zapeta]

Our supplier have stated they hope to start shipping the new boards towards the end of next week and we have been promised the first two Rev4 boards to ship.  So expect the weekly dividend to double and then we can work on selling the remaining 648 shares at 0.4BTC to purchase board #3 to take the weekly dividend to over 0.0040btc.  Also those funds will be used to pay for a cheap low power PC and a 600W PSU which should power >10 boards. 
After that I will be putting forward the motion to issue another 600 shares at 0.42BTC to purchase board #4 and take us to 3.2GH/s@2900 shares and an approximate weekly dividend payment per share increase of over 5%.

Don't you have this already

We only have one board at the moment and we have paid for two.  Plus we are now getting new version of the board with a different heatsink with fans.  So should hash harder for longer.

I think he was referring to the PC and power supply.  I assume that our FPGA boards are plugged in to something and can't communicate to the internet through thin air...

[matthewh3]

Our supplier have stated they hope to start shipping the new boards towards the end of next week and we have been promised the first two Rev4 boards to ship.  So expect the weekly dividend to double and then we can work on selling the remaining 648 shares at 0.4BTC to purchase board #3 to take the weekly dividend to over 0.0040btc.  Also those funds will be used to pay for a cheap low power PC and a 600W PSU which should power >10 boards. 
After that I will be putting forward the motion to issue another 600 shares at 0.42BTC to purchase board #4 and take us to 3.2GH/s@2900 shares and an approximate weekly dividend payment per share increase of over 5%.

Don't you have this already

We only have one board at the moment and we have paid for two.  Plus we are now getting new version of the board with a different heatsink with fans.  So should hash harder for longer.

I think he was referring to the PC and power supply.  I assume that our FPGA boards are plugged in to something and can't communicate to the internet through thin air...

Yes there plugged into my own aging PC and that can't be relied on to operate for ever so was going to run the FPGA boards off a RaspberryPi

[matthewh3]

The mining difficulty has gone up and 800MH/s is now predicted to make 3.25BTC a week not the 3.51BTC like last time I checked this calculator - http://www.alloscomp.com/bitcoin/calculator.php - The third weekly dividend will be paid by 00:00am GMT/UTC 2012-05-18 tomorrow.  The new Rev4 board which should double the whole amount to be paid should ship by the end of next week hopefully.  I'm still not charging anything for electricity.  Each ~800MH/s Rev4 board with four fans should cost £0.85/$1.35/€1.06 a week and the RaspberryPi £0.10/$0.16/€0.13 a week.

[bulanula]

The mining difficulty has gone up and 800MH/s is now predicted to make 3.25BTC a week not the 3.51BTC like last time I checked this calculator - http://www.alloscomp.com/bitcoin/calculator.php - The third weekly dividend will be paid by 00:00am GMT/UTC 2012-05-18 tomorrow.  The new Rev4 board which should double the whole amount to be paid should ship by the end of next week hopefully.  I'm still not charging anything for electricity.  Each ~800MH/s Rev4 board with four fans should cost £0.85/$1.35/€1.06 a week and the RaspberryPi £0.10/$0.16/€0.13 a week.

Not saying you are scam or anything ( I believe you have the boards ) BUT can we please have some nice pictures of the equipment you own in case you need to liquidate or something

Everybody loves pictures !

[matthewh3]

The mining difficulty has gone up and 800MH/s is now predicted to make 3.25BTC a week not the 3.51BTC like last time I checked this calculator - http://www.alloscomp.com/bitcoin/calculator.php - The third weekly dividend will be paid by 00:00am GMT/UTC 2012-05-18 tomorrow.  The new Rev4 board which should double the whole amount to be paid should ship by the end of next week hopefully.  I'm still not charging anything for electricity.  Each ~800MH/s Rev4 board with four fans should cost £0.85/$1.35/€1.06 a week and the RaspberryPi £0.10/$0.16/€0.13 a week.

Not saying you are scam or anything ( I believe you have the boards ) BUT can we please have some nice pictures of the equipment you own in case you need to liquidate or something

Everybody loves pictures !

Ask the owner of the IBB "senbonzakura" if you require any verifaction he has been kept updated on ever little in and out of the operation and even confidential information about the board before they went public.  Or ask "cablepair" on this forum the owner of the FPGA company - http://www.btcfpga.com/ - I don't have a camera or even mobile phone at the moment but will definitely put some pictures up once we have three Rev4 boards and RaspberryPi set up.  Check - https://mtred.com/site/page/view/top.html - to see our hashrate.

[matthewh3]

The third weekly dividend of 0.00183169BTC per share 3.02595472BTC over 1652 shares has been paid.  I'm expecting by this time next week the new Rev4 board will have shipped.  So expect the whole weekly dividend to approximately double in a couple of weeks.  Once we have sold enough shares for the third board expect the weekly dividend per share at current difficult levels to pay up to 0.0040BTC

[senbonzakura]

nice

[bulanula]

nice

I find your posts very insightful, detailed and full of knowledge senbonzakura.

I wonder how you manage this performance.

"Hmmm"

Some pictures would be nice when you get a camera, matthewh3.

As I said, I have confidence in you but we need to see your setup at some point so we can see what we are investing in.

[matthewh3]

nice

I find your posts very insightful, detailed and full of knowledge senbonzakura.

I wonder how you manage this performance.

"Hmmm"

Some pictures would be nice when you get a camera, matthewh3.

As I said, I have confidence in you but we need to see your setup at some point so we can see what we are investing in.

I've seen a cheap second hand Android phone with a 5MP camera but I don't get paid until next week.  My dad has a big digital SLR but he won't lend it me I'll try and get him to come round with it then email me the pics.  I will definitely put pics up of the new Rev4 boards when they arrive (I'll put something like "RSM" wrote on paper in the pic if you want?) so you'll then have a full week before the whole dividend doubles with proof and time to buy shares while there still under 0.40BTC.  As I can't see many people selling off their shares below 0.40BTC once were paying up to 0.0040BTC per share each week  The new boards should have shipped by this time next week so hopefully delivered and hashing away within two weeks.  Once we have sold enough shares I will get board #3 first then the RaspberryPi and 600W PSU but if my old PC dies before that time then we are major f@#ked   
I'll set up a live Xubuntu USB up in case the hard-drive dies (but it's not whining) tho if the PSU goes were knackered and the PSU fan was making a bit of noise a few weeks ago but stopped now.  I could get a reconditioned PC for less than £100 pretty quick I reckon tho would only have that kind of money even slightly possible to lay out once every two weeks.  I've just applied for a small loan which will take about four weeks to process and will get a new cheapo PC then.  So we'll then have a choice of two PC's as back up to run the boards in case RaspeberryPi died.

[bulanula]

nice

I find your posts very insightful, detailed and full of knowledge senbonzakura.

I wonder how you manage this performance.

"Hmmm"

Some pictures would be nice when you get a camera, matthewh3.

As I said, I have confidence in you but we need to see your setup at some point so we can see what we are investing in.

I've seen a cheap second hand Android phone with a 5MP camera but I don't get paid until next week.  My dad has a big digital SLR but he won't lend it me I'll try and get him to come round with it then email me the pics.  I will definitely put pics up of the new Rev4 boards when they arrive (I'll put something like "RSM" wrote on paper in the pic if you want?) so you'll then have a full week before the whole dividend doubles with proof and time to buy shares while there still under 0.40BTC.  As I can't see many people selling off their shares below 0.40BTC once were paying up to 0.0040BTC per share each week  The new boards should have shipped by this time next week so hopefully delivered and hashing away within two weeks.  Once we have sold enough shares I will get board #3 first then the RaspberryPi and 600W PSU but if my old PC dies before that time then we are major f@#ked   
I'll set up a live Xubuntu USB up in case the hard-drive dies (but it's not whining) tho if the PSU goes were knackered and the PSU fan was making a bit of noise a few weeks ago but stopped now.  I could get a reconditioned PC for less than £100 pretty quick I reckon tho would only have that kind of money even slightly possible to lay out once every two weeks.  I've just applied for a small loan which will take about four weeks to process and will get a new cheapo PC then.  So we'll then have a choice of two PC's as back up to run the boards in case RaspeberryPi died.

Are you located in London ? I have some PC parts and components on eBay or we can meet and I can do a discount etc.

[matthewh3]

nice

I find your posts very insightful, detailed and full of knowledge senbonzakura.

I wonder how you manage this performance.

"Hmmm"

Some pictures would be nice when you get a camera, matthewh3.

As I said, I have confidence in you but we need to see your setup at some point so we can see what we are investing in.

I've seen a cheap second hand Android phone with a 5MP camera but I don't get paid until next week.  My dad has a big digital SLR but he won't lend it me I'll try and get him to come round with it then email me the pics.  I will definitely put pics up of the new Rev4 boards when they arrive (I'll put something like "RSM" wrote on paper in the pic if you want?) so you'll then have a full week before the whole dividend doubles with proof and time to buy shares while there still under 0.40BTC.  As I can't see many people selling off their shares below 0.40BTC once were paying up to 0.0040BTC per share each week  The new boards should have shipped by this time next week so hopefully delivered and hashing away within two weeks.  Once we have sold enough shares I will get board #3 first then the RaspberryPi and 600W PSU but if my old PC dies before that time then we are major f@#ked   
I'll set up a live Xubuntu USB up in case the hard-drive dies (but it's not whining) tho if the PSU goes were knackered and the PSU fan was making a bit of noise a few weeks ago but stopped now.  I could get a reconditioned PC for less than £100 pretty quick I reckon tho would only have that kind of money even slightly possible to lay out once every two weeks.  I've just applied for a small loan which will take about four weeks to process and will get a new cheapo PC then.  So we'll then have a choice of two PC's as back up to run the boards in case RaspeberryPi died.

Are you located in London ? I have some PC parts and components on eBay or we can meet and I can do a discount etc.

Thanks for the offer.

[matthewh3]

Someone is working on a new bitstream for the Sparten'6 to take them up to 250MH/s each from 200MH/s.  So that would increase our total hashrate by 25% to 3GH/s over 2300 shares or 1.30435MH/s@~0.0717W per share.  Basically at current difficulty that would be up to a 0.0050BTC weekly dividend per share.  Happy days and keep your fingers crossed for the new Rev4 boards shipping later in the week which will double the current whole weekly dividend.

[matthewh3]

The fourth weekly dividend of 2.96164107BTC - 0.00179276BTC per share has been paid.  The new Rev4 board should be shipping very soon.  Please follow this thread for updates - https://bitcointalk.org/index.php?topic=79637.60 - Thanks.