Topic: ANN ### Project GRID - Miners Are Running #### (Read 6992 times)

^ !

I like this idea, not being able to sell cheaper than 0.000001 is stupid. I could sell for 50% of that and still be happy. Would probably find buyers too.

I have FAS https://cryptostocks.com/securities/87 and GRID https://cryptostocks.com/securities/94 shares, and I would like to sell them - because I am in urgent need of money. I would accept a much lower price, but due to the stupid design of cryptostocks.com I cannot even sell far under price. Why?


The trading of these two securities at cryptostocks.com has long come to a complete halt,
because their prices are locked at the lowest possible price 0.000001, by huge sell orders;
and there are no buy orders, because the cryptostocks.com system idiosyncratically does not allow for lower prices.


Hard to imagine they suddenly start moving again, just by themselves.
Long ago I suggested something - but my posting got deleted by the thread owner.


If all of our securities get divided by a factor of 10 or 100 (or 1000?),
then we could get out of this eternal deadlock situation,
because suddenly it makes sense to trade these objects again, by (very low price) buy orders.


In contrast: Right now stocks of fasbit are worthless numbers.



Practical example for my suggestion:
If I own 700 GRID now, I should get 7 NEWGRID.
If I own 2400 FAS now, I should get 24 NEWFAS.

That will happen to everyone, so no additional value is created;
but hopefully the price will start moving away from the 0.000001 edge of death.


If anyone has a better idea, please suggest something else.

awesome that fasbit is putting some fresh effort in.

lol

Another update. Great to see this project come alive again.

GRID - Update
Reinvestment is working well!  Current SHA256 Hash is 560 ghs.  SCRYPT is 70 mhs.
Will post a screen shot this weekend...
./fasbit

good to see FASBIT alive and well
/
i replied to his email suggesting he look at cointellect.com

a cloudmining company that seem to have fairly outrageous returns - i bought a 6month 300 euro contract that paid itself off in 2 months.

Very surprised to receive an email today

GRID
First of all let me apologize for allowing this project to slip. I am not offering any excuses, just an explanation:   I lost my day job, and had to let go of the office that housed the GRID miners.  After searching for months I finally had to take a job on the road traveling and just simply could not manage the miners on the road.  This is all history... and we are back on track to make this project work.

1. I have 10 mhs up an running on the original hardware. (about 30 miners)
2. The balance of the GRIDSEEDs will be shipped to "JCaferJr" in Kansas City, who has agreed to run and maintain them. (about 30mhs).  We will only have to pay him for  electrical costs. 
3. I purchased 60mhs of SCRYPT mining and 290 ghs of BTC mining hardware on GAW (with the hardware reserves) and everything is up and running.  So in essence, we currently have 70mhs running and 30mhs idle, for a total of 100mhs.
4. I will post screen shots and updates of the earnings on a regular basis. (Probably each weekend)
5. For the next 3 months I am going to reinvest 100% of the profits into new hardware on GAW and keep everyone updated.  We should be able to double the daily revenue generation with 120 days.  As of today we are generating about .0164BTC per day.
6. I am not going to take any profits from the mining in the next 90 days.  I will put it up for a vote in 90 days, to see if everyone wants to build up the hardware even more or start letting go of some revenue.
7. My number #1 goal will be to increase hash rate and nothing else.
8. GHS mining is just about 2x more profitable for each dollar invested than SCRYPT mining.  Therefore, going forward, I will be buying GHS and not SCRYPT.

I am not putting this decision up for a vote because the project will not survive without this drastic measure.  At this point no one has lost a single Satoshi, nor will I let that ever happen.

Benchmark
Nov 15th:  .016 BTC/day
Target
Feb 15th: .032 BTC/Day

./fasbit

For those of you following up on this, there was an annoucnement on cryptostocks:

GRID Update
OK... this project is not dead...
1. We have 60mhs of SCRYPT mining purchased and up and running and hosted on GAW
2. We have 230 GHS in SHA256 also mining and running.
3. We have 10mhs running in the original GRIDSEEDS  (about 30 units) at my house.
4. We have another 30mhs of GRIDSEEDS idle.  These are being boxed and shipped to Kansas City, where my buddy JCaferJr has agreed to host them for no fee other than the electrical costs.
5. If you want to buy some GRIDSEEDs, im selling them for $20 each.  All revenues will be used to buy SCRYPT mining on GAW.

./fasbit

yeah he replied to me too

Just wanted to give you guys a heads up.  I finally received an e-mail response from fasbit in which I asked him why the dividend mining address hadn't received anything in 2+ weeks.  We went from mining 0.05BTC every other day or so to nothing for several weeks then our last payout 2 days ago and now it is only 0.03477

Based on what I've seen watching this address the following things I suspect are true:
1.) 40 or 50 addtional MH was never added.
2.) Existing rig's where shutdown for quite sometime

This is all fasbit responded to my e-mail: "Payouts will resume this weekend.  I will post a detailed update on Crypto-Stocks."

*I have a sneaking suspicion that the update this weekend is going to royally suck for existing shareholders.

*Think we have another complete bust stock situation on CS with fasbit, fas, and grid fellas :/

have you disappeared ??
but seemingly mining still as of 5 november

http://wafflepool.com/miner/17Jr4RMMstbuZNte6AyiR4aChCJxU9hatr

//
edit
oh i see the post at gridseed forum..

hmmm what to make of it.

also FASBIT exchange

I almost lost 1 BTC on GRID, FAS and FASBIT.. i got scammed on other stuff on cryptostocks as well

I for one liked to get rid of coindust using GRID

I doubt its possible to convert the stocks like that but it should be possible to create new stock and then transfer them. But I am not sure how you think this will attract more buyers? Only way to get this going again is to push fasbit to keep to what he said in the announcement. Who would otherwise buy into something this uncertain?

Date    24 Sep 03:26
GRID - Update / Dividend
1. I will be purchaing an extra 40 mhs to increase the hash rate.  Watch for the rate to increase.
2. I will be updating the antiquated Grid Seed miners with more valuable and current mining technology.  I have Grid seed miners for sale for $25.00 (includes usb cable).
3. Dividend tonite by midnite US Central ~.5 BTC
4. I will be changing the payout ratio to 50% dividends and 25% hardware (to increase the pay out rate) 25% Profit.
./fasbit

Above announcement sounds good in my opinion, if he does what he says...

http://gridasics.proboards.com/thread/37/fas-grid-shares-fas1000-grid1000

Update 08-13-14 - Mining revenues are visible here:  http://wafflepool.com/miner/17Jr4RMMstbuZNte6AyiR4aChCJxU9hatr

Not turned off.  Fasbit posted an update on July 19th:

"Ticker    FAS - Fasbit - Instant Mining
Date    19 Jul 09:21
FAS - Updates
I have been out of touch for the last 60 days due to work travel.  I'm back on top of everything and playing catch up.

1. Look for the Dividends to pick up pace.  I purchased and added 2 ANT Miners out of pocket to help compensate for any performance issues that might be attributed to lack of management on my side.  Both Ant miners are up and running and already making an impact.
2. We have 2.25 BTC in hardware reserve.  I will be spending that before the end of the Month.  Look for this to also pick up the results.  I am doing the research now to get the "best bang for the buck."
3. I still have a smal percentage of our miners off line due to overheating of my lease space.  I have moved most of the excess heat makers to my personal residence to help spread the heat out.  This issue should be 100 resolved in less than a week and this will also help boost the results.  I have upgraded electrical and AC to help absorb the influx.
./fasbit"

*fasbit, if your reading this it sure would be nice to hear you got those other gridseed's running.  Also, any chance of posting the public address for each of the 3 listings so we can essentially determine frequency/amount of dividend payouts?

what is happening with GRID dividend ?
the last one was the same as previous values, but over three weeks rather than 3 days .
were they turned off??

fasbit back in action it seems
..

Ticker    FAS - Fasbit - Instant Mining
Date    14 Jun 16:20
FAS - Big Dividend on the Way
Sorry folks... I have been out of touch... on the road.... far from technology...
Dividends on the Way tonite.

./fabit

PS.  More hardware will be ordered this week.
PPS  Buy those cheap shares!!


https://cryptostocks.com/announcements/2601

fasbit you havent payed out dividend for quite some days on GRID and FAS project on Cryptostocks, when will you get back on track with that and why havent there been any dividend the last weeks.

where? oh where? oh where? is fasbit?

where? oh where? oh where? is fasbit?

where? oh where? oh where? is fasbit?

where can fasbit be?