[CRYPTOSTOCKS] (GMP) crowdmining

[usagi]

Including electricity costs, the Avalon ASIC #bitcoin miner has now paid for itself.

https://twitter.com/jgarzik/status/300138033590718464

I'm just happy I got in at such a low price (0.50/share)

I wonder how high it will go? If the avalons pay for themselves in 10-15 days this should go thru the roof. At 5%/month conservative I can see this hitting 10 bitcoins a share on speculation. I could really use that right now ^^

full disclosure, I own 50 shares.

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[MPOE-PR]

Including electricity costs, the Avalon ASIC #bitcoin miner has now paid for itself.

https://twitter.com/jgarzik/status/300138033590718464

I wonder what "paid for itself" means. Does he mean that discounting the cost of electricity, the board has produced enough coin so that >= 1299 / [mtgox current]? Or does he mean that if he had put $1299 into BTC at some point in the past (when) he'd have had less BTC today than the board provided (after discounting the cost of electricity, shipping etc)?

[Icoin]

Including electricity costs, the Avalon ASIC #bitcoin miner has now paid for itself.

https://twitter.com/jgarzik/status/300138033590718464

I wonder what "paid for itself" means. Does he mean that discounting the cost of electricity, the board has produced enough coin so that >= 1299 / [mtgox current]? Or does he mean that if he had put $1299 into BTC at some point in the past (when) he'd have had less BTC today than the board provided (after discounting the cost of electricity, shipping etc)?

It means that he is now hashing for 10 days and finds each 2 days and 4 hours on av. a block.

After 20 hours of mining, the unconfirmed + confirmed rewards equal  14.98832170 BTC.  Note that slush's pool was very lucky recently, in addition to some blocks with abnormally high TX fee income, so that number skews much higher than expected.

[EricTyle]

Does this mean that from June 30, 2012 to January 31, 2013:

87.98BTC / 8 mo = 10.9975 BTC / 3,473 shares = .003 BTC/share /.57 BTC = 0.55% dividend on average?

Correct me if I am wrong on that; however, with the new ASICs coming out:

10BTC/66GHs = xBTC/400GHs

4,000GHs/BTC = xBTC*66GH/s = 60.61BTC = x
-----------------------------------
66GHs

Total BTC in 8mo - 175.96 BTC, total paid - 87.98 BTC
New ASIC equipment = 60.61 BTC/day * 7 day/wk = 424.27 BTC/wk (Assuming low difficulty increase for the first week)

424.27 BTC/wk / 3473 shares = .12216 BTC/share /.57 =21.4% dividend on average for the first week?

After 5-6 weeks, the shares would pay for themselves and after that you just get pure profit from the GMP group?

[Icoin]

Does this mean that from June 30, 2012 to January 31, 2013:

87.98BTC / 8 mo = 10.9975 BTC / 3,473 shares = .003 BTC/share /.57 BTC = 0.55% dividend on average?

Correct me if I am wrong on that

Thats incorrect.
Here some data for your calculation https://cryptostocks.com/securities/9#dividends

After 5-6 weeks, the shares would pay for themselves and after that you just get pure profit from the GMP group?

I guess a realistic ROI between 8 to 12 weeks but to get there is still with many variables connected.

On the other hand, you never know.

[Icoin]

BitSyncom,
As long as I want to order some Avalons when batch 2 reopens, I will ask you to confirm following:


1. Will you send us a letter notifications when batch 2 shall reopen?
2. Are we going to be able to trade-in lancelots? The trade-in is not still available on the store
3. Ca we pay as guest using walletbit - transfer BTC from our wallets?

I am waiting for your responses
Thank you

1. yes.
2. not yet, but it will be. trade-in has a higher priority than regular batch orders when it comes to shipping, except we are still trying to figure out what is the best way to handle this.
3. yes, this has always been true I think there was some false information spreading around about that.  

Batch two re-opening is scheduled for
Monday, Feb 18, 2013 at 9am EST.

http://store.avalon-asics.com/?product=avalon-asic-batch-2

[Icoin]

Bitcoin now has it’s own mining industry with companies built off of both producing equipment and mining Bitcoins. As has been posted elsewhere, Bitcoin has gone pro.

http://cryptojunky.com/blog/2013/02/17/bitcoin-asic-roundup/

[Icoin]

Another Avalon ASIC Bitcoin miner has been delivered

http://mineforeman.com/2013/02/20/another-avalon-asic-bitcoin-miner-has-been-delivered/

[Icoin]

Consider a company/stock with the following attributes:

a)    It’s shares are bought and sold with bitcoins

b)   It’s valuation is in bitcoins

c)    It’s profits are in bitcoins

Now imagine those profits are hefty.

If we take common company valuation methodologies, specifically the PE Ratio of a company, and apply that within the new, small and constrained (in volume of total currency) world of bitcoin, we can potentially find ourselves in an interesting situation.

The valuation of said company, can in theory exceed the total number of bitcoins. brain melt

In 1999, the Average PE ratio of the S&P 500 was a staggering 44.20 (and has been above 65 since). By this account the bitcoin gambling site Satoshi Dice, who’s shares are traded in and valuation is in bitcoin, is worth a staggering 3.3million BTC. Or near enough ¼ of the total bitcoins currently in circulation.

Now imagine 100 companies (quite a small number of companies in the scheme of things) all traded and valued in bitcoin. Imagine each of those companies makes a measly 20,000 BTC profit per year (the same amount Satoshi Dice earned in January 2013 alone) for a total combined profit of 2million BTC. At a modest PE of 12 (at the date of writing the S&P500 PE was 17.37), those 100 companies would be worth twice the entire current pool of available bitcoins, and more than the total number of bitcoins that will ever be produced.

Economically it isn’t a problem because those share prices will only remain high whilst those companies continue to perform well. Some people might wonder what would happen if there was an attempt to sell all the shares at the same time, but simply put this would require the share price to go down massively (since otherwise sell orders would be met with buy orders) until demand becomes nil because nobody has any bitcoins to spend, and the share price drops while the exchange rate between USD and bitcoin goes MENTAL.

In other words, while the total valuation of bitcoin companies might be more than the total value of bitcoins, equilibrium will persist and a situation cannot occur in which this will become a problem. If company profits are recycled into the bitcoin economy, the phenomenon of companies total valuation being higher than the total volume of bitcoins is exacerbated (in a very positive way).

The brilliant side note to this phenomenon is that huge bitcoin profits and valuable bitcoin stocks are great for the fiat price per BTC.

http://vincesamios.com/bitcoins/valuations-of-stocks-in-bitcoin-brain-melt

[Icoin]

With the Bitcoin above 30 USD, GMP is able today to trade-in 5 Lancelot boards and has the funds for 20 additional modules.
This equals a hashing power of av. 770 gh/s

[romerun]

Will they start shipping our trade-in by March 1st ? Are you planing to order 20 more avalons ?

[Icoin]

Will they start shipping our trade-in by March 1st ? Are you planing to order 20 more avalons ?

We didnt get any final shipping date confirmation yet. But it is expectected that the hardware shipps around March 1.

The funds by now are enough to order 20 more modules.

When they finaly ship and we gonna have funds for more, of course we gonna order more.

[Icoin]

GMP mining chart February 2013

[Icoin]

New pic from AVALON
5 of these gonna work for us

[Icoin]

Just a awesome perspective for Bitcoin Investment:

http://www.youtube.com/watch?feature=player_embedded&v=_t39jCXXIrY#!

[Icoin]

Do to the p2pool brake caused by the V0.8 minig was switched to btcguild

http://glari.ch Stratum mine in work.

[Icoin]

http://www.youtube.com/watch?feature=player_embedded&v=NG1qooBzE2w

[Icoin]

Situation Report:

Avalon: we still hold the trade-in position with 5 avalon devices. Actualy we will try to get 5 full equiped avalon devices with 4 modules when possible more. Since AVALON pre-trade batch2 devices are sold for 15k 20k usd on ebay
http://www.ebay.com/itm/181105056846



and batch3 will be sold between 80 and 115 BTC
https://bitcointalk.org/index.php?topic=155345.msg1647013#msg1647013

[Icoin]

SHAREHOLDER PROTECTION PHASE INITIATED

[usagi]

SHAREHOLDER PROTECTION PHASE INITIATED

いいなあ～

Translation: Wow, Nice!