You said you welcome criticism and this is going to be critical but I intend for this to be constructive. Do you not understand why anyone with an investment in FAS would want to get any payout they can? The dividends are usually 1 sat per share so even if someone would buy FAS @ 50 sat (most of us paid much much more), they are waiting nearly 50 dividend payments to make ROI. At your current rate of about 1 payment per month, that's over 4 years ROI. So while I understand the long term positive of investing 100% into hardware, we just have not seen anything to justify it. The dividend payment amount has remained the same while becoming less and less frequent.
On top of that your infrequent communication has made us investors think FAS is just another scam investment on cryptostocks.com on multiple occasions. I'm glad to still see you are around but I think better communication on your part will go a long way to restore faith and share sales.
No problem on criticism. I think the crypto-world has had so many scams that now people are really gun shy and accuse anyone and everyone of a scam. I had to have a plan to make it all work out and come out of the changes in the market and changes in my own circumstances and still take care of the investors.
Here are a few facts you should at least acknowledge:
1) When I sold GRID shares, I raised 65 BTC on the IPO. I think if there would have been a good time to disappear with a pile of money it would have been then. But instead I shipped out 100's of miners to the buyers. What ever was left over became the GRID mining base. To date, GRID has paid out over 9 BTC in dividends.
2) FAS has paid out over 16 BTC in dividends. The original IPO was only 10 BTC. Anyone who bought on the IPO has made 1.6x return.
3) GRID - We bought a new technology at the peak price. Immediately after the IPO the price of BTC started falling and millions of ASIC chips hit the market. The cost of 1mhs of scrypt mining was about $200 on the day we bought the GRIDS, today 1mhs costs about $5.00. These are realities of the market.
Your only real criticism is that I didn't communicate enough. And I apologized to everyone and I'm moving forward, to make it work, to adapt and move forward.
./fasbit
I'm not too versed on the whole GRID project so I'm simply talking about FAS here. It's good that GRID has already paid out a good amount of dividends. I would need to see ROI so far based on IPO price to see if it was worth it, however. As for #2, I was not one of those fortunate enough to get in early and get a return. I joined later and have not earned much back at all which makes me hesitant to ride it out and invest in more hardware versus take the dividend payment. The entire time I've had FAS shares, I've only seen the dividends tapering off.
I know firsthand what the ASICs did to scrypt. They've rendered my 7950 rig virtually obsolete as far as earning fiat goes but I'm in it for crypto, not making fiat so the rig still runs 24/7, just on x11.
That all being said, I would definitely consider a trade-up program from FAS to GRID (or the next project) if you were to offer it. Your communication has sucked but it currently seems like you're trying to do better and that is worth the benefit of the doubt. I truly believe you do what you do for the same reasons as I do. The whole community is in the lull right now with everything that's going on and the financial institutions attacking crypto in all areas. We all need to stay tighter together and work on fixing things from within. The fact that crypto is under attack should tell you that big money is worried and we are all on to something.
