Added to the list.
Thanks.
Thanks for the offer for an account but I'll pass. I do medical charity work every 2 years and have a separate BTC wallet just for that if you want to donate a few bucks for that (this Thanksgiving I will be working with some friends from the VA down in Gaudalajara, Mexico in a community clinic for 6 days). I guess I could make a charity account haha. Haven't found a place to buy medical supplies with BTC for those reading ... some of you could cater to those doomsday preppers
Be delighted to. PM me the wallet address and I'll throw something appropriate there. Not sure about being able to help with buying medical supplies in BTC thought!
I can tell from your posts that you spend quite a bit of time studying the mining trends. As johnnybravo0311 noted it may not be the best return compared to buying hardware, but that is up to the end user to decide. KNC, Bitmain and AM aren't exactly promising you'll make money either - it's up to the end user to decide what is right for them.
It's alas my 'job'.
I don't mind comments like johnnybravo0311's because people invest for a whole host of reasons. Of course what he says is correct in the simplistic view that if difficulty continues to trend upwards higher than a certain rate then it would indeed be better to do the 'buy BTC now' than even buying hardware!
But of course it is a big IF, and if he's got a fine crystal ball then I assume he also doesn't buy international stocks or shares he just buys fiat currency
It also negates the view that with mining contracts you get a constant 'dividend' stream which you can invest how you like, potentially taking advantage of changes in the market. If you buy BTC and hold then you've 100% locked your final gains entirely against the price of BTC at the point you realise verses the point you bought, rather than having additional factors that can affect the overall returns. The same as 'pension funds' and 'property is my pension fund' views. Each are fine, just make sure if you do the latter that when you want to realise it that the housing market hasn't collapsed.
Again the analogy with buying international currency verses buying a share in a company isn't that different, after all who would have bet in the late 1990s that Apple would be the largest company in the world. You could of course have bought Guatemalan Dollars at the time as well which given where Apple was market share wise against Microsoft may have seemed the better choice!
The comparison we believe with kit is indeed valid. Generally 8-12 weeks means around 50% of the earnings of a certain hash rate will have been collected, so if you are around even double the price of kit alone, then by the time you factor in pool luck issues (which we remove with our guarantee), power (which is fully inclusive - the power alone at $0.10/kWh for a Neptune is nearly $1500), and downtime (we provide a SLG that means even if we did have a bit outage it doesn't affect your earnings) then we believe it's great value. So will you get that kit you order today in 1 week, 2 weeks or 12 weeks? If you are sure that's cool, but given we buy kit by the 100TH load we aren't that sure that all the claims made about availability are actually true.....
But if johnny doesn't we don't mind that - it's just a perspective and if he thinks he can mine better himself then we're not going to tell him he's wrong, and clearly even if he's not mining he can make his view known and we can give ours and the end customer can make their mind up.
We purposely don't make any claims about what may or may not happen (check out our website, we even say on our front page that "Please remember that past performance is not an indication of future growth of the global hashing rate which directly affects the amount of rewards that your hashing contract may make.".
Not only is it illegal in the UK for us to do that under the FCA (the financial regulator), we are in the market of providing a service which people can make their own choice about if it makes sense for them. We've no interest in making massive claims about returns or anything else, we just put the contracts up, give a decent set of information for people to make their own mind up, and leave them to it. No whizz bang schemes, no MLMs, no pumping of the forums, just here it is and see what you think.
Given the contracts we've sold so far it seems many people do like our proposition, but also given that everyone that visits our site doesn't buy something, others think it's not for them. That's cool. Our existing customers seem to like it with many now over the 10THs level, and almost all have added additional contracts. At the same time we continue to contribute a reasonable chunk of doing the important bit of mining which is verifying the transactions.
Megamine is just one of the businesses we have active in the bitcoin arena so it's not a do all or die, and for us ensuring that we are incredibly close to the mining is very important for some of our other investments which will ultimately rely on the integrity of that, and of course everything we haven't sold we mine for ourselves so it's not all bad news for us.
I noticed you signed the announcement "Justin Fielder, CEO & MD". Is that MD as in physician or some other abbreviation in the UK?
MD = Managing Director - means the buck stops at me for the day to day as well as the 'strategy'. It's a UK term.
J
www.megamine.com