[ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 343.

kleeck

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Quote from: zumzero on November 19, 2013, 06:05:41 PM

Anyone considered the fact that kleeck's analysis and projections, while well intentioned, are an accidental red herring in this discussion?

Everyone is talking about cashing out the Avalon refund, but who says we need to any time soon? Ken's clearly not daft and will likely have the majority view that holding Bitcoin is wise as the price will be higher in the future. Anyway, I was under the impression that it was the hardware sales that we're going to finance the construction of our mining farm and given Ken's recent excited announcement of the $1M sale, we had reached that milestone already.

I am of the view that IF someone wanted to maximise profits from selling btc in the near future, then this coming Monday/Tuesday we'll see prices in region of $1200 - $1700.

Interesting thought. Regardless of the price of BTC that refund was and is for mining equipment. So we ought to buy mining gear with it and sooner the better.

zumzero

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myBitcoin.Garden

Anyone considered the fact that kleeck's analysis and projections, while well intentioned, are an accidental red herring in this discussion?

Everyone is talking about cashing out the Avalon refund, but who says we need to any time soon? Ken's clearly not daft and will likely have the majority view that holding Bitcoin is wise as the price will be higher in the future. Anyway, I was under the impression that it was the hardware sales that were going to finance the construction of our mining farm and given Ken's recent excited announcement of the $1M sale, we had reached that milestone already.

I am of the view that IF someone wanted to maximise profits from selling btc in the near future, then this coming Monday/Tuesday we'll see prices in region of $1200 - $1700.

auto2nr1

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Quote from: chairforce1 on November 19, 2013, 05:49:25 PM

Quote from: bigdude on November 19, 2013, 05:48:17 PM

What's the IRC channel?

#activemining

How come you are not in the channel Mr. Secretary?

chairforce1

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0.79849126 BTC just deposited. Wonder what this was..

chairforce1

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Quote from: bigdude on November 19, 2013, 05:48:17 PM

What's the IRC channel?

#activemining

bigdude

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Dolphins Finance TRUSTED FINANCE

Quote from: kleeck on November 19, 2013, 01:52:39 PM

For those of you NOT on IRC. I will grace you with this glorious theorycraftage:

Here you go guys:

1400 BTC from Avalon Refund = $770,000. If we get machines at retail value, and not cost (unlikely, but we'll do worst case scenario) it'll cost $155,598,80 for 24.576TH/s and we can afford 4.94 fully loaded Platinum miners. (I'm guessing we can get that to 5 full machines with expansions). 5 X 24.576 = 122.88 TH/s. (The $770K is based off of a $550 BTC)

100TH/s is 2% of a 5PH network, (We are at 4.8PH currently). 2% of the TNH is 72 coins a day (2% of 3600 possible coins). 72 * 7 for the weekly net amount is 504. I'll cut it in half, for reinvestment, so we can keep up with the hashrate, so 252.

252 / 10,000,000 (not counting the other 15M yet) is .0000252/share. Which is $.01386/share @ $550 a BTC each week. Not bad for paying $.25 a share initially.

Read it and weep.

WEEP I SAY!

Boner Alert!!

Warning! Reading the above may cause boners.

Yeah. I like those numbers. We need to get this plan in motion, though.

That warning was too late!!

What's the IRC channel?

minerpart

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Activity: 280

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IIIIII====II====IIIIII

Bargraphics you just repeated yourself.

As you did I'll repeat myself - if you don't cash out at opportune times in a very volatile market you run the risk of cashing out at a very bad price.

BTC will always go up? Like it did last night you mean? Have a look at the chart and tell us how long we had to wait to see 260 USD after the first time.

SebastianJu

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Legendary Escrow Service - Tip Jar in Profile

Quote from: minerpart on November 18, 2013, 07:05:44 PM

Quote from: SebastianJu on November 18, 2013, 07:00:33 PM

It was a bad idea to price the miner in USD

If you price them in BTC only you won't get half as many orders. So it was not a bad idea.

Might be though he could write beneath a USD-Price. Now the problem is he is selling miners for a price that was created when a bitcoin was worth 1/5? So now buying those miners means 5 times faster ROI.
In fact i would think about buying miners too if ukyo would release my money from weexchange and if i knew when i would get that miner depending on the queue...

Bargraphics

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Every man is guilty of all the good he did not do.

Thankfully shareholders have little to no say in the speculation of when to cash out BTC so I particularly won't be entertaining this discussion after this post. But just food for thought, BTC will always go up, it has been shown/proven, however you will never be able to guess what the price point will be in the immediate future so there's no reason to try and "Play the speculation game". As what has always been done in BTC Business, you cash out immediately when you receive the BTC OR you cash out when you need the USD after holding it. It is that simple.

Carry-on!

minerpart

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IIIIII====II====IIIIII

Quote from: Effayy on November 19, 2013, 04:53:02 PM

investors will be more at ease to step in, and those who may have heard of Bitcoin but haven't done any research may now start to invest as well.

Do you know how many people got their fingers burned last night? You are looking at maybe 1000 Mill USD pumped into it last night from 600 up to 900USD.

On the way down to 500USD you are looking at hundreds of millions of USD lost - mostly by Chinese housewives I'd imagine. This bubble and bust may have scared an awful lot of people off.

Effayy

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Quote from: kslaughter on November 19, 2013, 04:28:32 PM

Quote from: Stuartuk on November 19, 2013, 04:19:08 PM

So if the 1.4k BTC (or a portion) are still with us then when is the best time for Ken to convert to FIAT?

We could have got 800USD last night for them, 500 this afternoon or 700 now. Tomorrow or in a few days they could be back in the 3-400 range.

Any thoughts on this.

Or next week they may be worth $2,000 each.

Exactly. I'd say a rise has more merit than a fall next week, too. After the US senate hearings (which are quite positive by the way), investors will be more at ease to step in, and those who may have heard of Bitcoin but haven't done any research may now start to invest as well. Give it a week for that new money to pass through the system into a position where Bitcoin can be purchased, and boom!

minerpart

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IIIIII====II====IIIIII

Cashing them out when needed is an overly simplistic attitude in such a volatile market.

BTC is not unlike any other security on the planet. When it goes up a long way holders cash-out. That is the nature of every security and BTC is no different. That's why is was 900 one moment and 500 the next.

When price is relatively high compared to recent highs (as it is right now) you must profit-take.

JoTheKhan

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Quote from: Bargraphics on November 19, 2013, 04:33:02 PM

Quote from: kslaughter on November 19, 2013, 04:28:32 PM

Quote from: Stuartuk on November 19, 2013, 04:19:08 PM

So if the 1.4k BTC (or a portion) are still with us then when is the best time for Ken to convert to FIAT?

We could have got 800USD last night for them, 500 this afternoon or 700 now. Tomorrow or in a few days they could be back in the 3-400 range.

Any thoughts on this.

Or next week they may be worth $2,000 each.

You cash them in when they are needed regardless of price as at that point, the new mining equipment that comes from that will make more BTC than was cashed out by far.

Speaking of which, it is the third week of November. Some groundbreaking news should be due soon.

+1 and.. another +1

Stuartuk

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Quote from: kslaughter on November 19, 2013, 04:28:32 PM

Quote from: Stuartuk on November 19, 2013, 04:19:08 PM

So if the 1.4k BTC (or a portion) are still with us then when is the best time for Ken to convert to FIAT?

We could have got 800USD last night for them, 500 this afternoon or 700 now. Tomorrow or in a few days they could be back in the 3-400 range.

Any thoughts on this.

Or next week they may be worth $2,000 each.

Yes ofcourse - but that is a gamble. They could also be 200 USD next week and they could stay there for a month.

If we need any of the the funds that we have locked up in these BTC I would advise you to take them out today.

If we don't need the funds for development I'd be happy for you to hold them. But please do not under any circumstances rely on BTC being where it is now over the next few months. That is not written in stone.

Bargraphics

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Every man is guilty of all the good he did not do.

Quote from: kslaughter on November 19, 2013, 04:28:32 PM

Quote from: Stuartuk on November 19, 2013, 04:19:08 PM

So if the 1.4k BTC (or a portion) are still with us then when is the best time for Ken to convert to FIAT?

We could have got 800USD last night for them, 500 this afternoon or 700 now. Tomorrow or in a few days they could be back in the 3-400 range.

Any thoughts on this.

Or next week they may be worth $2,000 each.

You cash them in when they are needed regardless of price as at that point, the new mining equipment that comes from that will make more BTC than was cashed out by far.

Speaking of which, it is the third week of November. Some groundbreaking news should be due soon.

kslaughter

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Quote from: Stuartuk on November 19, 2013, 04:19:08 PM

So if the 1.4k BTC (or a portion) are still with us then when is the best time for Ken to convert to FIAT?

We could have got 800USD last night for them, 500 this afternoon or 700 now. Tomorrow or in a few days they could be back in the 3-400 range.

Any thoughts on this.

Or next week they may be worth $2,000 each.

Stuartuk

sr. member

Activity: 266

Merit: 250

So if the 1.4k BTC (or a portion) are still with us then when is the best time for Ken to convert to FIAT?

We could have got 800USD last night for them, 500 this afternoon or 700 now. Tomorrow or in a few days they could be back in the 3-400 range.

Any thoughts on this.

kleeck

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Activity: 532

Merit: 500

https://karatcoin.co

Quote from: ?? on ??

Kleeck,

No amount of your good news will deny me the right to complain.

Lorenzo Money

Quote from: kleeck on November 19, 2013, 02:32:13 PM

Quote from: zumzero on November 19, 2013, 02:26:11 PM

Quote from: kleeck on November 19, 2013, 01:52:39 PM

For those of you NOT on IRC. I will grace you with this glorious theorycraftage:

Here you go guys:

1400 BTC from Avalon Refund = $770,000. If we get machines at retail value, and not cost (unlikely, but we'll do worst case scenario) it'll cost $155,598,80 for 24.576TH/s and we can afford 4.94 fully loaded Platinum miners. (I'm guessing we can get that to 5 full machines with expansions). 5 X 24.576 = 122.88 TH/s. (The $770K is based off of a $550 BTC)

100TH/s is 2% of a 5PH network, (We are at 4.8PH currently). 2% of the TNH is 72 coins a day (2% of 3600 possible coins). 72 * 7 for the weekly net amount is 504. I'll cut it in half, for reinvestment, so we can keep up with the hashrate, so 252.

252 / 10,000,000 (not counting the other 15M yet) is .0000252/share. Which is $.01386/share @ $550 a BTC each week. Not bad for paying $.25 a share initially.

Read it and weep.

WEEP I SAY!

Boner Alert!!

Warning! Reading the above may cause boners.

Yeah. I like those numbers. We need to get this plan in motion, though.

That warning was too late!!

Thanks for crunching the numbers and posting this. I think I may have breached again!

Just a thought though. Can we be absolutely sure that the Avalon refund hasn't been converted to fiat and already spent on something? I would exercise caution in trying to second guess Ken's business moves (if that's what we're doing) as we might be setting ourselves up for a possible disappointment. Or perhaps the Avalon refund isn't a factor as we should have the money anyway, to achieve kleeck's figures?

As usual, I will share what I know:

Quote from: kslaughter on November 19, 2013, 01:05:14 AM

Quote from: kleeck on November 19, 2013, 12:56:09 AM

Ken,

Watching the BTC value run up this evening had me thinking about the Avalon refund Bitcoins. Is that full amount still in BTC? If not how much is still in Bitcoin?

Thanks!

Note: Ken doesn't smile much. Cheesy

Fair enough.

Ozymandias

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The holidays are looking to be quite merry this year (if the ability to trade shares is there)!

zumzero

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myBitcoin.Garden

sweet

Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 343. (Read 771302 times)