Author

Topic: [796.com] Red Star Mining est. January 2012 (Read 17020 times)

newbie
Activity: 2
Merit: 0
September 18, 2016, 08:38:31 PM
#80
Matt has not responded to requests on Loomio in some time.  Canth is the only one who has "talked" to him and other than a tersely worded update on the now defunct Red Star Mining webpage there has been zero communication with him.

The website that was down is back up. Maybe Matt will talk to us now.

UPDATE

Matt has posted on Loomio.  Let's see where this goes.  I'll update as I find out anything.
sr. member
Activity: 304
Merit: 250
I'm already on loomio, but no news there. So what's going on?
legendary
Activity: 1442
Merit: 1001
So the email that Canth provided, bounces.  Matt does not answer either his other email (of record) nor does he respond to requests on the loomio "management forum".

I don't like this one bit.

Chatted w/ Matthew - looks like he got locked out of his bitcointalk.org account. Since he's not using this thread as a place for updates, see blog update here: http://www.redstarmining.com/2016/08/as-posted-numerous-times-previously.html#links
newbie
Activity: 2
Merit: 0
So the email that Canth provided, bounces.  Matt does not answer either his other email (of record) nor does he respond to requests on the loomio "management forum".

I don't like this one bit.
legendary
Activity: 1442
Merit: 1001
EDIT: There is still 18.86 BTC held here: https://blockchain.info/address/16QuagYMUDNRqnwroeZ2B6QYGCAZA6BzS4

After the last financial statement, 83.82 BTC has been spent without being accounted for.  The last transaction being made on 9/10/2015.  Any updates?

Well, it appears they cleared out the remaining BTC and disappeared.  No responses in months to messages.  Looks like it ended up netting matthewh3 about $70,000.  Anybody care?

I spoke to Matthew and he's not dead nor has disappeared. Anyone looking to take a share buyback can message [email protected]. I'm not looking to take up a spokesperson role, I'm an investor just like a number of other folks here. Please email from the account that matches your 796.com account for verification purposes.
donator
Activity: 4732
Merit: 4240
Leading Crypto Sports Betting & Casino Platform
EDIT: There is still 18.86 BTC held here: https://blockchain.info/address/16QuagYMUDNRqnwroeZ2B6QYGCAZA6BzS4

After the last financial statement, 83.82 BTC has been spent without being accounted for.  The last transaction being made on 9/10/2015.  Any updates?

Well, it appears they cleared out the remaining BTC and disappeared.  No responses in months to messages.  Looks like it ended up netting matthewh3 about $70,000.  Anybody care?

Without proof that funds exist, it is time to label this a scam.
sr. member
Activity: 304
Merit: 250
I read at loomio that they are waiting for another exchange to be opened to reschedule dividends payments (796 is not processing their payments) and selling provess there. But there was no ETA for that.
legendary
Activity: 1372
Merit: 1003
We currently have around BTC100 of reserves

Looks like it's been around a year since anyone has commented on this operation.  Are there still plans to do something with this asset?

EDIT: There is still 18.86 BTC held here: https://blockchain.info/address/16QuagYMUDNRqnwroeZ2B6QYGCAZA6BzS4

After the last financial statement, 83.82 BTC has been spent without being accounted for.  The last transaction being made on 9/10/2015.  Any updates?

Yeah I've moved things around a little to make it both harder to steal while also taking some punts.  The last investment in mining gear we made didn't break even.  While I've took some punts on altcoins and overall that's paying off nicely.  I may partially close some positions temporally soon to try and leverage a little harder.  Anything that has been spent (read burnt) since that last mining hardware purchase has been accounted for on a spreadsheet.  That spreadsheet can be viewed upon request.  All other spending is since January 2012 is accounted for in this thread.
donator
Activity: 4732
Merit: 4240
Leading Crypto Sports Betting & Casino Platform
We currently have around BTC100 of reserves

Looks like it's been around a year since anyone has commented on this operation.  Are there still plans to do something with this asset?

EDIT: There is still 18.86 BTC held here: https://blockchain.info/address/16QuagYMUDNRqnwroeZ2B6QYGCAZA6BzS4

After the last financial statement, 83.82 BTC has been spent without being accounted for.  The last transaction being made on 9/10/2015.  Any updates?
member
Activity: 74
Merit: 10
Est. January 2012
Yeah unfortunately we let our PR person go on semi-permanent unpaid leave quite a while ago.  Until we are back earning again so unfortunately the thread title got missed for an update, but has been updated now.  Here is a link to the English language version of 796 - https://796.com/?lang=en - Our dividends work by only paying out one twelfth of the dividend fund at any one time.  Originally to help smooth out any rapid growth of dividends and keep a smoother emission.   That is how we can continue to issue monthly dividends as per usual.   There's been a lot more action in the private shareholders management group.  Then in the public outlets of RSM.  Any shareholder can join the private management group.  Just please PM us for an invite and we will need to verify the email account you use for 796.com  Although you will need to be holding over 100 shares.  Which is actually less than 1/1000 of public stock.
member
Activity: 74
Merit: 10
Est. January 2012
We are currently waiting for better market conditions.  To buy a load of new gear and start mining again.  If the market never improves enough to a point where we feel confident.  About buying new gear to make a healthy return.  Then eventually we will use our substantial bitcoin reserves to buy all publicly traded shares back off the market.   If any current investors are not aware of how much bitcoin reserves with have.  Then please ask in the private shareholders management group.
hero member
Activity: 544
Merit: 500
796 looks like it might slowly be on the way out.  Huh

Is there a good backup in place in case it dies ?
member
Activity: 74
Merit: 10
Est. January 2012
February 06, 2015, 03:52:06 PM
#68
The current plan of action is to hold onto our reserves until a major bitcoin price rally and better mining conditions.  We currently have around BTC100 of reserves and ASICspace can offer hosting down to $80/kW/month.  Prices of mining gear are falling all the time and mining efficiencies increasing.  While the network hashrate growth started to plateau in Q4 last year.  Which just need a bitcoin price rally to make a new purchase a lot more effective.  The dividend fund allocation from profits still holds over a years worth of monthly dividends.  Which is over BTC3 in total.  We've sold all our old gear which most now would be considered inefficient compared to whats shipping now from stock.  And bought a Ledger Hardware Wallet which we are in the process of moving funds over too.  There should also be less than 125,000 public shares not owned by RSM on 796 exchange now out of the 132,000 on there.  RSM has bids in to buy more shares back during this current lull in activity.
hero member
Activity: 544
Merit: 500
February 06, 2015, 02:43:22 PM
#67
Any updates?  Roll Eyes
member
Activity: 74
Merit: 10
Est. January 2012
December 17, 2014, 09:41:55 AM
#66
Very sorry for the delay the dividend has just been sent to 796.com

BTC0.31152 / 236 satoshi per share.

Hopefully all the gear will be shipped very soon.  Although the new hosting location won't be ready until at least January 1st and maybe as late as January 15th.  At current difficulty and USD/BTC price $315.33/BTC.  We would hash just over BTC2.00 profit per month after all hosting costs.

legendary
Activity: 854
Merit: 1000
December 16, 2014, 02:12:25 AM
#65
any news about this month dividends? thanks
legendary
Activity: 1918
Merit: 1122
Leading Crypto Sports Betting & Casino Platform
December 09, 2014, 11:40:57 AM
#64
This year for our annual Christmas and third year birthday donation we're planning on buying 1BTC worth of FairCoin.  That we will stake with.  This will indirectly help to benefit the FairCoop project.  Then next year we will donate 50% of any BTC gains made on the purchase to - https://fair.coop.  Up to the value of 1BTC.

Great to count with you!  Cheesy
Day by day Fair.Coop and Faircoin are growing with new supports like yours!

After get over the mintpal defeat,  Faircoin will be in Bittrex next days, and there will be more easy to buy 1 BTC value than the current lost volume exchanges.

Be pending of updates and keep in contact!

https://bitcointalk.org/index.php?topic=702675.new#new

https://twitter.com/faircointeam
https://twitter.com/fair_coop

member
Activity: 74
Merit: 10
Est. January 2012
December 09, 2014, 10:35:21 AM
#63
This year for our annual Christmas and third year birthday donation we're planning on buying 1BTC worth of FairCoin.  That we will stake with.  This will indirectly help to benefit the FairCoop project.  Then next year we will donate 50% of any BTC gains made on the purchase to - https://fair.coop.  Up to the value of 1BTC.
member
Activity: 74
Merit: 10
Est. January 2012
December 01, 2014, 12:28:17 PM
#62
Yes, all the gear is currently being powered down at Netsolus.  Then soon after January the 1st all the gear will be sent to a new hosters in Washington.  Where we'll be saving around $1,250USD a month on hosting fees.  Which is the difference between running the gear or not.  We probably won't be buying any new gear until Q2 or Q3 next year.  14nm and 16nm gear should be out then and also much more efficient 28nm gear too.  Our new host'ers can potentially drop our hosting fees further by up to another 12.5% to possibly as low as $80/kW/month.  If we were to end up with enough kW's to make it worth their while.

The bitcoin network difficulty growth looks like the next adjustment may actually be the first negaitive adjustment in almost two years.  Including this next difficulty adjustment the last block of five adjustments combined have been the relatively smallest block of five changes in eighteen months.  So it currently looks like the network difficulty growth may be reaching a plateau for the first time in two years.  From when it had plateaued last time for around eighteen months.  So as long as the USD/BTC price at least roughly holds then we should be good to keep hashing away at the new location for some time with this current gear we have.   
legendary
Activity: 854
Merit: 1000
December 01, 2014, 12:13:30 AM
#61
Any news?
legendary
Activity: 854
Merit: 1000
We did use Coinapult Locks BTW to help lock in the price of next months hosting costs.  We locked in $3,000USD at approximately $400USD/BTC.  This will guarantee that it's profitable to run all the gear now until December at least.  No matter if we have another crash before the bill is due at the end of the month to the beginning of next month.

OK nice to hear that



 I suppose it's best to wait to decide once they have a fully working demo unit that they promise to soon have.

https://alpha-t.net/news/viper-chip/   

I'm with you on this.
member
Activity: 74
Merit: 10
Est. January 2012
We did use Coinapult Locks BTW to help lock in the price of next months hosting costs.  We locked in $3,000USD at approximately $400USD/BTC.  This will guarantee that it's profitable to run all the gear now until December at least.  No matter if we have another crash before the bill is due at the end of the month to the beginning of next month.
member
Activity: 74
Merit: 10
Est. January 2012
News about Dividens and or the srcypt miners?

AlphaT now have their working chips and we just have to decide on whether to go ahead with the $7k purchase of their speculated 500MH/[email protected].  I suppose it's best to wait to decide once they have a fully working demo unit that they promise to soon have.  If their specs are correct then at the current Litecoin mining difficulty and USD/LTC price they'd hash $1,582 per month.  While costing us $525 a month to host.  Or hash 4BTC a month while costing us 18BTC to purchase and 1.34BTC a month to host.

https://alpha-t.net/news/viper-chip/   
member
Activity: 74
Merit: 10
Est. January 2012
News about Dividens and or the srcypt miners?

Sorry for the late update, but one of our main PR guys is currently relocating to another state currently.  And he'll be very busy until Tuesday so I'll try to do a brief update.  October's dividend has already been issued.  We paid a 30% deposit on four Alpha Vipers.  Which came to £6,540.00GBP/$10,514USD although at the time last January this only cost us around 12BTC.  We've approach AlphaT on a deal and they said that we can cancel two devices and use their deposits towards the purchase of just two Alpha Vipers.  So this would mean that we'd now only have to pay £4,429.98GBP/$7,121.84USD to purchase two Alpha Vipers.  These Alpha Viper devices are expected to run at least 250MH/s each.  We're still on the fence whether to just cut or losses on this and cancel our order.  So input from shareholders would be appreciated.  Here is the latest update from, AlpahT - https://alpha-t.net/news/developmental-update-06102014 - they are also offerting a loyaty scheme to try and compensate for the delays.  Which would need to be signed before the end of the month - https://alpha-t.net/loyalty-scheme-rules opions on that too are apppricated.

On other news if the price swings above $400/BTC in the next few weeks then we are too trial Coinapult locks in locking in next months hosting costs.  We may also start looking into selling off some older gear next month.
   
legendary
Activity: 854
Merit: 1000
News about Dividens and or the srcypt miners?
member
Activity: 74
Merit: 10
Est. January 2012
September 21, 2014, 11:35:28 AM
#55
Our host'ers have altered the power configuration to the 6.25 AM-V1s and now we're hashing at - 23.57(TH/s)@23.88kW in total.  We still have another four AM_V1s being RMA'd which should add another ~4.33TH/s once they're back.  If the BTC/USD price is not equal or over approximately $450 by the time our next hosting invoice is due.  We may down-volt the five 1TH/s Bitmine rigs to 500GH/s each.  Where they should hash at 0.9j/1GH instead of the current 1.1j/1GH.
member
Activity: 74
Merit: 10
Est. January 2012
September 12, 2014, 01:14:00 PM
#54
We've now got some of the AM-V1s blades fixed and they're currently hashing at 4.745Thps with more to be fixed.  Our S3's are currently hashing at 11.6Thps and we're currently working with the host'ers to squeeze a bit more out of them.  While the Bimine rigs are still hashing away at 5.05Thps.  So as of this moment we're currently hashing at 21.4Thps.  The current low BTC prices have been hurting us though with hosting costs.

I've managed to to tweak the S3's total hashrate up to ~11.987Thps so far since yesterday.  Although hopefully we can get them up to <=12.54Thps.
member
Activity: 74
Merit: 10
Est. January 2012
September 11, 2014, 02:44:14 PM
#53
INVALID BBCODE: close of unopened tag in table (1)
member
Activity: 74
Merit: 10
Est. January 2012
September 11, 2014, 06:52:20 AM
#52
We've now got some of the AM-V1s blades fixed and they're currently hashing at 4.745Thps with more to be fixed.  Our S3's are currently hashing at 11.6Thps and we're currently working with the host'ers to squeeze a bit more out of them.  While the Bimine rigs are still hashing away at 5.05Thps.  So as of this moment we're currently hashing at 21.4Thps.  The current low BTC prices have been hurting us though with hosting costs.
hero member
Activity: 546
Merit: 500
Owner, Minersource.net
Our host'ers have finally manged to get some of the AM-V1s working - http://eligius.st/~wizkid057/newstats/userstats.php/12EkATVUyn92hGzS67kR4aWrjwsVjixUij - they have also now finally given Chalbersma physical access to one of the faulty AM-V1s to see if we can fix them without having to RMA all the faulty units.  As we only have 4.457Thps of their 12.4Thps total hashrate working currently.  The S3's are currently pulling in ~12Thps so that means our current live total hashrate is ~21.5Thps

If you need help RMA'ing blades, I was given plenty of spares by BTC Garden and would be happy to help you out.

Could you send us replacements while we get our fixed RMA'd units from China delivered to you.  We're just in the process of getting the faulty units back from our host'ers.

Sure. You can send the bad ones back to us in the US, and I can send you replacements from our US warehouse. Feel free to drop me a PM and I can hel you guys out.
member
Activity: 74
Merit: 10
Est. January 2012
Our host'ers have finally manged to get some of the AM-V1s working - http://eligius.st/~wizkid057/newstats/userstats.php/12EkATVUyn92hGzS67kR4aWrjwsVjixUij - they have also now finally given Chalbersma physical access to one of the faulty AM-V1s to see if we can fix them without having to RMA all the faulty units.  As we only have 4.457Thps of their 12.4Thps total hashrate working currently.  The S3's are currently pulling in ~12Thps so that means our current live total hashrate is ~21.5Thps

If you need help RMA'ing blades, I was given plenty of spares by BTC Garden and would be happy to help you out.

Could you send us replacements while we get our fixed RMA'd units from China delivered to you.  We're just in the process of getting the faulty units back from our host'ers.
hero member
Activity: 546
Merit: 500
Owner, Minersource.net
Our host'ers have finally manged to get some of the AM-V1s working - http://eligius.st/~wizkid057/newstats/userstats.php/12EkATVUyn92hGzS67kR4aWrjwsVjixUij - they have also now finally given Chalbersma physical access to one of the faulty AM-V1s to see if we can fix them without having to RMA all the faulty units.  As we only have 4.457Thps of their 12.4Thps total hashrate working currently.  The S3's are currently pulling in ~12Thps so that means our current live total hashrate is ~21.5Thps

If you need help RMA'ing blades, I was given plenty of spares by BTC Garden and would be happy to help you out.
member
Activity: 74
Merit: 10
Est. January 2012
Our host'ers have finally manged to get some of the AM-V1s working - http://eligius.st/~wizkid057/newstats/userstats.php/12EkATVUyn92hGzS67kR4aWrjwsVjixUij - they have also now finally given Chalbersma physical access to one of the faulty AM-V1s to see if we can fix them without having to RMA all the faulty units.  As we only have 4.457Thps of their 12.4Thps total hashrate working currently.  The S3's are currently pulling in ~12Thps so that means our current live total hashrate is ~21.5Thps
member
Activity: 74
Merit: 10
Est. January 2012
Most of the S3's are up.  Here's Eligius stats page which is one of the three pools we're balancing across - http://eligius.st/~wizkid057/newstats/userstats.php/15fsnnPrRdHy6qQCks559vkK1i4b786sef - All the S3 rewards should go to - 15fsnnPrRdHy6qQCks559vkK1i4b786sef - While we'll try and set all the AM-v1 miners to go to - 12EkATVUyn92hGzS67kR4aWrjwsVjixUij
member
Activity: 74
Merit: 10
Est. January 2012
Some bad news and some good news.  First with the bad news:  Due to bad management by our collocation center our first batch of miners have been sat dormant in their center since they arrived last week.  Now with the good/better news:  The collocation center has promised to have both batches up running and live on Tuesday.  So this Tuesday we should be hashing live at [email protected].  As we'll now be over 30Thps this would take around nineteen days on average to solo hash a namecoin block.  So we're currently planning on operating our own public P2Pool node and solo merge mining NMC,DVC,IXC,I0C and GroupCoin.  All the miners will be on the same switch as the P2Pool server so we should get some very good results.  Also by offering a public node we will be able to feed some merged-mined alts off any hashrate pointed at the node.  We currently subsidies the costs of two full bitcoind nodes which are both over four-thousand miles apart.  
hero member
Activity: 711
Merit: 532
I'm just catching up on the news now, this is great stuff! Thanks for keeping your eye on the ball.
legendary
Activity: 854
Merit: 1000
Great news guys, you have made my day , thanks!
hero member
Activity: 544
Merit: 500
RSM seems to be a constant stream of good news recently..

Keep up the good work guys.  Grin
member
Activity: 74
Merit: 10
Est. January 2012
Good news  Grin  our 12.4(TH/s)@13kW@BTC21.46 order arrived yesterday and we're aiming to get it in the collocation center on Monday.  Even more good news  Grin  our order of thirty Antminer S3's at 13.23(TH/s)@10.5kW@BTC21.03 has shipped so hopefully we can get that also in the collocation center next week also  Grin  So next week we'll be hashing at 30.68(TH/s)@28.75kW.
member
Activity: 74
Merit: 10
Est. January 2012
RSM made need up to two more technically minded staff in the Kansas City Area.  Over the next few months depending on our growth and certain deals going through.  Any positions are always at first offered to shareholders and their friends/family.  Although if you follow this thread and are interested in the potential positions.  Then please inbox us your details.
legendary
Activity: 854
Merit: 1000
Great News!!
member
Activity: 74
Merit: 10
Est. January 2012
We have received the tracking codes for the 12.4(TH/s)@13kW@BTC21.46 purchase from - http://www.btcgarden.com - https://bitcointalksearch.org/topic/btcgarden-am-v1-down-to-053ghs-in-stock-for-international-selling-622439 -  While the 13.23(TH/s)@[email protected] purchase of thirty Antminer S3's plus fifteen 700W Plus 80 Gold rated PSU's we expect to ship on or soon after August 7th.
member
Activity: 74
Merit: 10
Est. January 2012
If we hadn't have refunded the KNC Neptune's we'd have received 15(TH/s) a couple of weeks ago.  So far instead we've used around 40% of that refund to purchase 25.63(TH/s).  With roughly half of that due next week and the reminder the week after.  While the last two network difficulty changes have been relatively the two smallest in the last eighteen months.  Plus the next difficulty change so far looks very similar.
member
Activity: 74
Merit: 10
Est. January 2012
Yes and it will continue to do so until our first lot of new gear has paid for itself plus hosting.  Then 10% of it's profits will be added to the dividend fund.  The current dividend fund contains BTC5.28092575 this will be divided by twelve and one twelfth paid out at each monthly dividend.  Our latest lot of gear currently hashing has hashed BTC7.89 since we got it in June and we paid BTC15.99 for it.  So after it has hashed over BTC15.99 plus hosting costs at 5.25kW at $0.14USD per kWh It'll start adding 10% of its profits to the dividend fund.  Which we're currently expecting to happen by December  We are not a mining bond but a strong reinvestment stock.  With 80% of all profits being reinvested into new mining hardware and the likes.  Our current reinvestment fund to purchase new gear stands around BTC75 after our second purchase which was made today.  While we've just paid for 12.4(TH/s)@13kW@BTC21.46 that we'll have a tracking code for on Monday.  Which we expect to ROI and start adding to the dividend fund between December and January.  We have also paid a 30% £6,540 deposit with AlphaT last January at ~BTC12 for some Scrypt ASIC's.  While we are currently waiting on their next incentive to get us to complete the purchase with a payment of £15,399.96.

We've just ordered thirty Antminer S3's to ship on or very soon after August the 7th at at total order of 13.23(TH/s)@10.5kW@BTC21.03 including fifteen 700W Plus 80 Gold rated PSU's.  This compares to our previous order of 12.4(TH/s)@13kW@BTC21.46 which is due to ship this Monday the 28th.  We expect this latest order to ROI before December.  So it currently likely that at least the next four monthly dividends are only going to reduce by a factor of 8.33% each month.  Until all the current hashing and ordered hashrate has paid for itself plus its hosting costs.  Then it'll start adding 10% of it's profits to the dividend fund.

Once all the new gear is delivered we'll be paying about $3,000USD a month to host 30.68(TH/s)@28.75kW plus our 200W server for us.
newbie
Activity: 42
Merit: 0
Dividend is less,less.
sr. member
Activity: 406
Merit: 250
member
Activity: 74
Merit: 10
Est. January 2012
We're working on another deal that we're trying to get to ship today.  This time ~10.2(TH/s) which hashes at =<11.2kW for a total price all in for everything < $10.6k.  So a little bit cheaper on the (GH/s)/$ than the most recent purchase.  We are working with these - http://www.edentech.org.cn - https://bitcointalksearch.org/topic/edenge-3-release-am-version-680423  If we complete this move then this will take us up to 27.7(TH/s)@29.3kW of which we currently need to pay a flat rate hosting cost of $0.14USD per kWh.  So this would mean that we're now getting 22.6(TH/s) for roughly the price of 9(TH/s) of Neptune refunds that we would have received those units about three weeks ago at the earliest.  While the last network difficulty change was 3.08% and the next one due later today is expected to be =<8%.  So if you adjust the 9(TH/s) loss by those two difficutly changes than that'd be roughly the same as 10.01(TH/s) needed to compensate.  While the Neptune's are 25% more power efficient than our rigs we are getting over 125% more relative hashrate.  Adjusted for the difficulty changes since we'd have theoretically possibly received the Neptune's.  While this move would leave BTC87.56 in the wallet for future moves.  Although we still have a $25.7k commitment to AlphaT for their currently quoted 1(GH/s) of Scrypt ASIC's.  We feel that if they don't upgrade that hashrate or unless the BTC price starts to rise dramatically.  Then we may possibly renegade on that current deal in doing so losing our BTC12.00 30% deposit in the process.  We'd currently have to pay them another BTC42.71 if we feel we can at least easily ROI on that then we'll go through with it.  On a brighter note AlphaT should have an official update on shipping today.  So if they can offer us a big enough carrot then we'd go through with the final payment.
member
Activity: 74
Merit: 10
Est. January 2012
We've just purchased 12.4(TH/s)@13kW@$13.3k for immediate delivery.  There's a proper update coming soon.  This'll take our total hashrate up to 17.5(TH/s)@18.1kW. Of which we pay a hosting fee of $0.14USD per kWh used flat rate.
Good work chaps.  How immediate is "immediate"?

It's been paid for in full and should hopefully ship within three days as of now at the latest.

We purchased from these - http://www.btcgarden.com - https://bitcointalksearch.org/topic/btcgarden-am-v1-down-to-053ghs-in-stock-for-international-selling-622439 - for interested parties.

Four or five miners should ship tomorrow the 25th.  While the other fifteen or sixteen will ship on Monday the 28th.  They've sold out now BTW, so we was lucky to bag them.
member
Activity: 74
Merit: 10
Est. January 2012
We've just purchased 12.4(TH/s)@13kW@$13.3k for immediate delivery.  There's a proper update coming soon.  This'll take our total hashrate up to 17.5(TH/s)@18.1kW. Of which we pay a hosting fee of $0.14USD per kWh used flat rate.
Good work chaps.  How immediate is "immediate"?

It's been paid for in full and should hopefully ship within three days as of now at the latest.

We purchased from these - http://www.btcgarden.com - https://bitcointalksearch.org/topic/btcgarden-am-v1-down-to-053ghs-in-stock-for-international-selling-622439 - for interested parties.
member
Activity: 74
Merit: 10
Est. January 2012
We've just purchased 12.4(TH/s)@13kW@$13.3k for immediate delivery.  There's a proper update coming soon.  This'll take our total hashrate up to 17.5(TH/s)@18.1kW. Of which we pay a hosting fee of $0.14USD per kWh used flat rate.
Good work chaps.  How immediate is "immediate"?

It's been paid for in full and should hopefully ship within three days as of now at the latest.
legendary
Activity: 1092
Merit: 1001
Touchdown
We've just purchased 12.4(TH/s)@13kW@$13.3k for immediate delivery.  There's a proper update coming soon.  This'll take our total hashrate up to 17.5(TH/s)@18.1kW. Of which we pay a hosting fee of $0.14USD per kWh used flat rate.
Good work chaps.  How immediate is "immediate"?
member
Activity: 74
Merit: 10
Est. January 2012
We've just purchased 12.4(TH/s)@13kW@$13.3k for immediate delivery.  There's a proper update coming soon.  This'll take our total hashrate up to 17.5(TH/s)@18.1kW. Of which we pay a hosting fee of $0.14USD per kWh used flat rate.
full member
Activity: 163
Merit: 100
Q2 2014 Financial Statement

RSM’s Q2 2014 Financial Statement is out. You can view it online here or you can view the pdf version here.
Thanks for the info. Very clear Statement

Thanks let us know if there's any questions we missed.
legendary
Activity: 854
Merit: 1000
Q2 2014 Financial Statement

RSM’s Q2 2014 Financial Statement is out. You can view it online here or you can view the pdf version here.
Thanks for the info. Very clear Statement
member
Activity: 74
Merit: 10
Est. January 2012
Q2 2014 Financial Statement

RSM’s Q2 2014 Financial Statement is out. You can view it online here or you can view the pdf version here.
member
Activity: 74
Merit: 10
Est. January 2012
Still no news for this month?

Sorry super busy. There is a mining update included in our Q2 '14 Financial Statement.
legendary
Activity: 854
Merit: 1000
Still no news for this month?
full member
Activity: 163
Merit: 100
Any news or update? This month divs maybe?

An off the cuff update we have the hardware and it's hashing. We're having some hosting issues at this moment. We moved it to a cheaper data center but have been having access problems will update when we get it all sorted out. Div are incoming we are a bit behind because of the miners but it's very high up on our to do list. Additionally we're working on the Q2 Financial summary.
legendary
Activity: 854
Merit: 1000
Any news or update? This month divs maybe?
member
Activity: 74
Merit: 10
Est. January 2012
Mining Update

RSM has taken delivery of 4 out of 5 of our modified Bitmine.ch hardware. Originally we were suppose to receive 2.8 TH/s of hardware but we will receive approximately 5 TH/s when all the miners are delivered. We still have one miner that got caught up in customs and we expect it in the next few days.

We’re still working out the kinks but you should be able to monitor our overall progress on bitparking by following miner 341f4052 on the Bitparking Statistics Page.
member
Activity: 74
Merit: 10
Est. January 2012
thanks for the great news!!!, it should help us improve the dividends a lot!

The current dividend fund does hold BTC6.7 we are just being very conservative in paying it out as we know we won't be adding to the fund until the Alpha-T or Bitmine devices have seen a positive bitcoin ROI.  Which should be in the Autumn/Fall for both devices.   Although if the Alpha-T devices are the first substantial Scrypt ASIC's to market by a good while.  Then the Alpha-T devices should ROI very quickly and start adding to the dividend fund during late summer.  Even if both sets of devices don't do amazing well then we should still get the reinvestment fund to around BTC150.  Which if you divide over the current 131,000 shares without any more buy backs going through.  Would value each share at over BTC0.0011, so if we do well off both sets of devices.  Then the intrinsic value of each share should be much higher than that.  While that's just the intrinsic value, speculation should hopefully drive the share price even higher some more.
legendary
Activity: 854
Merit: 1000
thanks for the great news!!!, it should help us improve the dividends a lot!
member
Activity: 74
Merit: 10
Est. January 2012
A bit of preliminary good news is that we are having 5(TH/s)@5kW shipped to us on Friday.  We paid BTC16.00 for this on February 1st.  The Alpha Viper Scrypt rigs are still on schedule to ship in July.  While we still have to pay £15k towards this >360MH/s by June 6th.  We are just hanging on for any more bitcoin price rises.

Sorry after an update today we are no longer receiving ~360(MH/s) of Scrypt ASIC's off Alpha in July.  We're actually receiving 1(GH/s) now instead in July - https://alpha-t.net/news/performance-increase - so that's two major pieces of good news for RSM today  Grin
member
Activity: 74
Merit: 10
Est. January 2012
A bit of preliminary good news is that we are having 5(TH/s)@5kW shipped to us on Friday.  We paid BTC16.00 for this on February 1st.  The Alpha Viper Scrypt rigs are still on schedule to ship in July.  While we still have to pay £15k towards this >360MH/s by June 6th.  We are just hanging on for any more bitcoin price rises.
member
Activity: 74
Merit: 10
Est. January 2012
Bitmine.ch Update

Bitmine.ch has released an update about their Coin Craft Rigs (of which RSM has one on order). The news is promising. If your interested take some time to read the latest news here.
member
Activity: 74
Merit: 10
Est. January 2012
MAY 1 Dividends Summary

Dividends

Dividends for the Month of April (May 1st dividends) are out. Summary of Divs below:
ItemAmount
Divs Total0.50000000
Shares132,000
Divs Per Share0.00000378


April Financial Summary
ItemAmount
Revenue0.07448159
Revenue Adjust0.00000000
Costs-0.59170194
Cost Adjust0.59170194
Post Cost Revenue0.07448159
Salaries*0.00372408
Salaries Adjust0.25000000
Post Salary Revenue0.07075751
Re-Invest0.06014388
Buyback0.00353788
Divs0.00707575
Divs Adjust0.49292425
Final Divs0.50000000

We had our final bitcoin payout from our Jupiter’s mining this month. This constituted our only mining revenues. Our costs were the Hosting & Salary costs from February and March as we hadn’t paid out our February costs.

The dividend from last month was paid out of the Jupiter Sale and Neptune Refund money and didn’t show up in our mining address. You can view the full list of our accounts on our 2014 Q1 Financial Statement.

Approximately 7mBTC of our dividend came from mining income the remaining 0.49 BTC came from our Jupiter and Neptune Sales. A similar breakdown (3mBTC; 0.25 BTC) was used for salaries. There is 6.7 BTC left in the Dividend fund from the sales which we plan to disperse monthly at a rate of 0.5 BTC or 1/12th of what is left in the fund whichever is lesser.
hero member
Activity: 544
Merit: 500
Following the new thread.
member
Activity: 74
Merit: 10
Est. January 2012
New Motion Up

RSM has placed a New Motion up on Loomio. Motion Text Below:

Quote
I've been following Darkcoin and it's attempt to implement a decentralised implementation of Coinjoin since the coins inception. In that time it has grown to become one of the top ten alt-coins. With daily trading levels almost reaching that of Dogecoin recently.

Darkcoin is now to implement master-nodes as part of the Darksend protocol. These master-nodes will receive a share of generated coins plus transaction fees. To operate a Darkcoin master-node the node must hold a balance of at least 1000DRK. So we're holding this motion to decide whether RSM should start buying 33.3DRK per day until we're holding 1000DRK and can operate a master-node. 33.3DRK would be bought per day for a month so that we get an average DRK/BTC price. Although I expect the the DRK rally to continue on full implementation of Darksend and the use of master-nodes.

We have a staff member who works as a professional Linux system admin to operate the node.

Info on Darkcoin - http://www.darkcoin.io/intro.html

Please head over to Loomio to vote. If you are a shareholder and do not have access to our loomio group please email [email protected] with your relevant information and we will get you invited.
member
Activity: 74
Merit: 10
Est. January 2012
Red Star Mining 2014 Q1 Financial Statement

Red Star Mining is releasing it's 2014 Quarter 1 Financial Statement. You can download it in pdf format here or view it on Google Docs.
member
Activity: 74
Merit: 10
Est. January 2012


RSM plans to utilize these funds in a similar way to our past purchases. To wait for in hand hardware that we can purchase. Ideally leveraging a higher bitcoin price.


Good move. Any news about the scrypt Asics that were ordered?

Have you checked the gridseed blade? I've seen a few of them listing in here with good prices, what do you think about it?

The latest news from Alpha was on April 14th to say that they were initiating tape-out - https://alpha-t.net/news - That means that they're on schedule.  We haven't paid in full yet for our four pre-ordered >90MH/s rigs.  While they did state that they would ask for full payment eight to ten weeks before shipping.  So when we announce that we've paid in full for the rigs then that should be a good indicator on how long is left before we starting hashing.

As for the Gridseed devices well we don't think that they would ROI in coins before the Alpha's are released and make the Gridseed's unprofitable.
legendary
Activity: 854
Merit: 1000


RSM plans to utilize these funds in a similar way to our past purchases. To wait for in hand hardware that we can purchase. Ideally leveraging a higher bitcoin price.


Good move. Any news about the scrypt Asics that were ordered?

Have you checked the gridseed blade? I've seen a few of them listing in here with good prices, what do you think about it?
member
Activity: 74
Merit: 10
Est. January 2012
KNC Neptune Refund Received

Our KNC Neptune order has been refunded. Total refund was 102 xbt, more bitcoin than we believed the Neptunes would mine in their operational lifetime. Of the 102 xbt approximately 46 xbt is a bitcoin profit meaning approximately 2.3 xbt will be allocated to buyback and salaries with a further 4.6 xbt associated with dividends.

This is in addition to our Jupiter Sale funds allocated for Dividends, Salaries and Buybacks. With these added funds we can sustain a dividend of 0.5 xbt for over a year.

RSM plans to utilize these funds in a similar way to our past purchases. To wait for in hand hardware that we can purchase. Ideally leveraging a higher bitcoin price.

BTC in Space Going Well

Coindesk is reporting that a project RSM is an official sponsor of, the Bitsat project, has signed an agreement with Dunvegan Space Systems Inc. to launch their satelites into space.

2014 Q1 Financial Summary

It's coming! Just a few more finishing touches left and we'll have the Q1 Summary out.
member
Activity: 74
Merit: 10
Est. January 2012
April 1st Dividends Summary

Dividends

Dividends for the Month of March (April 1st dividends) are out. Summary of Divs below:

ItemAmount
Divs Total0.50000000
Shares132,000
Divs/Share0.00000378

Buyback

You may have noticed that the total Share amount is lower than it was last month. That's because another 1,000 shares have been bought back off the market through our share buyback policy. This leaves us with a total of 132,000 shares on the market.

2014 Q1 Financial Statement

In accordance with our new policy we will now be releasing Financial Summaries and quarterly statements. Our next full financial statement is being prepared. We hope to be in a position to release it by April 30th although we understand that this goal may not be possible due to the large size of the report.

March Financial Summary (April 1st)

ItemValue
Revenue1.38504707
Revenue Adjust-1.38504707
Costs-1.31450612
Cost Adjust1.31450612
Post Cost Revenue0.00000000
Salaries0.00000000
Salaries Adjust0.25000000
Post Salary Revenue0.00000000
Re-Invest0.00000000
Buyback0.00000000
Divs0.00000000
Divs Adjust0.50000000
Final Divs0.50000000

We had no mining revenue this month. Last month we sold off our Jupiters and this provided the funds for the salary fund and the dividend (with the remainder to be paid out over the next months. Our "Revenues" for this month were in relation to our motion. In which we took money from our buyback fund in preparation to invest it in other places. This option at the moment is not being exercised as the price in our opinion is too low. The costs were primarily for our new p2pool

In accordance with the Jupiter sales we have exercised our an additional 0.500 BTC for this dividend with the expectation that we will pay the remainder out over the next few months with the ultimate goal of maintaining a dividend between 0.5 BTC and 1.0 BTC. Additionally we've exercised 0.25 BTC from the Jupiter Sale to the Salaries Fund with the expectation that we will continue to do so until the Jupiter Sale Salary Fund is Depleted.
member
Activity: 74
Merit: 10
Est. January 2012
PSA: 796 Post Heartbleed

796.com, the market provider for RSM shares, has re-issued it's SSL certificate (did so on 4/7/2014) and is requiring customers to change their passwords post heartbleed. Please be sure to login to 796.com and change your password. Also if you haven't done so already please also enable two factor authentication.
full member
Activity: 163
Merit: 100
Thanks for the announcement , hope you get better. Any news about dividends?

Divs are being processed for this month. In addition I'm working on the Q1 Financial Statement. Hopefully I can finish it by the 15th but there's a lot of content so It might push a bit longer.
legendary
Activity: 854
Merit: 1000
Thanks for the announcement , hope you get better. Any news about dividends?
legendary
Activity: 1372
Merit: 1003
I can confirm that this is the new thread to take over in my absence.  RSM has spent over three years earning trust on this forum.  They've set this up as a self moderated thread but hey this is a forum and no one is stopping anyone else from creating other threads about RSM.  So please ignore the 'have a go hero' making RSM out to seem to be a scam.  Like I said I was told the Q1 financial and actions statement may be out by as early as next week.  I'll try to show my face in the thread when I can and will try to read every post.
member
Activity: 74
Merit: 10
Est. January 2012
member
Activity: 74
Merit: 10
Est. January 2012
For new interested parties please check our home page - www.redstarmining.com
member
Activity: 74
Merit: 10
Est. January 2012
This is the new thread for RSM shareholders and investors.
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