Topic: [796.com] RedStarMining.com - the oldest public mining security [15.0(TH/s)] - page 13. (Read 120478 times)

I think it may be worth throwing everything we've got to save up for one of these - http://www.coindesk.com/cointerra-cuts-price-of-terraminer-iv-bitcoin-mining-rig/ - 2(TH/s)@28nm for $13,999 with delivery in December.  They state that for every month of possible delays they'll add 20% hashing power to your order.  Although KNC@28nm may drop their prices yet once they're shipping next day.  So it may be best to order more KNC's if their shipping next day, drop their prices and it's taking us too long to raise the $14K quickly enough due to Octobers and Novembers network difficulty.  For KNC to compete with CoinTerra they'll have to drop their prices in halve.  Which they may do in October/November once they're shipping next day and other 28nm ASIC's get close to release.

Email just received -


So hopefully we should start hashing any time after 3pm BST / 2pm UTC/GMT.

It's been a right mess about trying top get this SC hosted.  I've been dealing with three different companies who are all not very good communicators.  They did say it was ready last Friday but could not pick it up until Tuesday.  Even tho I asked to pay for priority pick up.  I've now paid for the first months hosting out of my own money so RSM owes me the BTC1.10 I sent to the RSM wallet.  Tho the bill only came to $95 so the change is in the RSM wallet.  When I paid the Bitpay invoice I received no email confirmation from the hoster's or login details.  I have emailed support with our invoice number and they have our pool details.  Tho they never asked for any back up pools.  Which makes me think with all these delays that they are mining on it.  The only good thing about this hosting is its only a one month rolling contract.  Canth  our mining operator has offered to host the BFL's as well and he thinks it'll only cost about $40 a month per SC in electric.  While the hoster's are charging $95 a month per SC.  Although I was maybe thinking of putting up a motion to sell our BFL's once our second KNC Jupiter is hashing.  To put towards another KNC Jupiter order and KNC should be shipping next day by then.  So it may be easier to sell them at the hoster's possibly.  9am office hours at the hoster's in Kansas is at 3pm BST / 2pm UTC/GMT.  So I'll ask Canth to call them when there office is open as he's chief our mining operator and states side too.

For anyone interested this is our BTC deposit address from the pool - 1KMLjhgjGLxZTJT5TSWxV2HCZHBqpDEpa1 - and this is our NMC address from the pool - N8XMdFabAavv8gW2Bg4j5c9Vh8s44bCtsC -  As our first SC comes online tomorrow you can view the payments we're receiving.

Looks like the motion is going to pass. Looking forward to bonus divs .

yeah I was trying to buy at certain prices, could only get a small position going

The market is severely depressed by the eleven months of delays with no equipment.  Now the equipment is starting to ship and a monthly dividend to start I expect liquidity to improve greatly.

really difficult to get filled on any decent size position with this issue. Maybe I should sell puts instead, at least I could earn something if the price doesn't decrease

The motion on the first dividend is up, please use your vote.  Also I would like to donate 50% of February's dividend fund to bitcoin and bitcoin friendly related charities to celebrate RSM's second birthday.  It's too early for a motion on that and I may put it up in January to be decided.  What are investors opinions on that.  The charities that come to mind are those in my sig, plus I2p, the I2p bitcoin-qt patch, BitcoinX, the Open Transactions project and possibly the Bitcoin Foundation.

Well that would have to be decided by motion as the bonus dividend was decided on a year ago.  Although I will abstain from the motion with my personal holdings.

As nice as the bonus sounds to the immediate pocketbook. Re-investment at the full rate seems almost necessary to establish a decent position in the market.

At current difficulty this single SC will make us BTC0.59 a day, or BTC4.16 a week or up to BTC18.05 over thirty days.  I'll pencil the first dividend for either October 1st/September 31st or the day we pay a full months hosting fee.  We just need to finally decide on what the bonus dividend should be before we start the 90% reinvestment.  I think we last settled on 50:50 that would probably mean a dividend of around BTC0.00013476 per share on the 27th of September.  Although our other two SC's or the first KNC could come online before then.

Should we bet on whether the BFL or KNC delievers first. At least either way we win.

New KNC update, looks good and no news of any delays yet.  So hopefully our first >=400(GH/s)@28nm device will ship on time next month - https://www.kncminer.com/news/news-30

As Canth is hosting our two KNC's I see it fair for him to be put on the RSM payroll.  He'll receive up to a maximum of 20% of the salaries fund.  The only other member of staff ATM apart from me is Evlovex who designed and maintains our spreadsheet.  As per the contract I can hire and sack who ever I feel I need too.  Although large investors or a group of smaller investors can call for a motion to sack a staff member even if I don't want to sack them.  As all salaries are deducted from the same 5% of profits allocated for salaries meaning my share goes down the more staff I employ.  Which I don't mind as the more staff we employ the stronger the management of RSM is so therefore is our productivity and growth.  The salaries are not due to start being paid until after a months hashing on our third BFL SC.  Which now looks like it will may even come after our second KNC Jupiter is delivered maybe at this rate.

On other news yesterday BFL shipped July 4th 2012 SC's while our first pre-order was made on July 7th 2012.

Thank you for post Canth. was a good read and a good explanation from KNC.

this.

So far, so good. According to the latest post from knc, they are still on track. See recent update regarding why they chose to keep the case small and simple - I personally disagreed with this design, but if it's keeping them on track to ship on time, then I'm all for it.

https://bitcointalksearch.org/topic/m.2965120

Hopefully we will be mining soon. And very hopefully KNC will not slip or at least not as bad as BFL.

+1