[BitFunder] Fenix. Hashing from the ashes of Bakewell.

Carnth

hero member

Activity: 634

Merit: 500

Quote from: Spincycle on November 05, 2013, 12:20:14 PM

Important Notice .....

Fenix has already shutdown operations. If you have/held shares, you have already been paid final dividends that included the liquidation of mining equipment.

Just withdraw your BTC from your Bitfunder account account. Just let the shares sit in your account. They will go away when Bitfunder does.

Spincycle

newbie

Activity: 16

Merit: 0

Important Notice (November 4, 2013)

Please be advised that BitFunder is ceasing operations. In connection with BitFunder's shut-down, please note the following points, which supplement the points outlined in BitFunder's October 8, and October 11, 2013 notices:

As of November 14, 2013, no BitFunder user will be able to enter into any new positions or sell positions on the BitFunder website.

BitFunder users are encouraged to transfer their shares from the BitFunder site to the respective issuer(s) no later than December 1, 2013.

As of December 2, BitFunder will initiate a transfer from the BitFunder site to the respective issuer(s) of any remaining shares held by BitFunder users, and will provide the issuer(s) with the public bitcoin address associated with the user account. After transfer, each user will need to work with the issuer(s) with respect to the future treatment of the shares.

On December 2, 2013, bitcoin balances in the accounts of all users will be transferred to their WeExchange accounts.

As of the date of this notice, BitFunder is not assessing any new fees against any BitFunder user.

Notwithstanding the shut-down, the site will remain available for viewing and users will be able to request records from BitFunder until at least December 15, 2013.

** Do we transfer you the shares now to you or wait until Bitfunder does it on Dec 2? **

klaus_ffm

newbie

Activity: 27

Merit: 0

How can it be considered a success if sharholderes got 80 BTC by mining compared with > 120 BTC by selling the avalons?

Quote from: Carnth on October 30, 2013, 06:37:50 PM

Quote from: klaus_ffm on October 25, 2013, 05:42:54 PM

We hashed 123 BTC and paid out only 81 on dividends?

See a couple of post above.

Quote from: 🏰 TradeFortress 🏰 on October 21, 2013, 03:47:38 AM

Quote from: klaus_ffm on October 20, 2013, 02:55:24 PM

Fenix should have generated >95 BTC but only 80 BTC have been paid out. Was the rest for power costs and management fees?

3% Btcguild fee, plus electricity costs, yes.

Carnth

hero member

Activity: 634

Merit: 500

Quote from: klaus_ffm on October 25, 2013, 05:42:54 PM

We hashed 123 BTC and paid out only 81 on dividends?

See a couple of post above.

Quote from: 🏰 TradeFortress 🏰 on October 21, 2013, 03:47:38 AM

Quote from: klaus_ffm on October 20, 2013, 02:55:24 PM

Fenix should have generated >95 BTC but only 80 BTC have been paid out. Was the rest for power costs and management fees?

3% Btcguild fee, plus electricity costs, yes.

Daeiro

newbie

Activity: 4

Merit: 0

Hello Fenix,

I have received only a quarter of the Fenix shares that were promised for my Bakewell trade-in.
I've PM-ed Fenix-PR but never received a reply.

Any suggestions on what to do now ?

regards,
Daeiro

klaus_ffm

newbie

Activity: 27

Merit: 0

We hashed 123 BTC and paid out only 81 on dividends?

Quote from: FenixPR on October 25, 2013, 03:57:23 PM

We are winding down this asset, and have decided to accept a price of 12 BTC from TradeFortress for our 2 Avalons. The upcoming final dividend will include a redistribution of funds from this sale.

The board would like to thank you all for mining with us. We hashed 123 BTC so far, and will be receiving an additional 12 BTC, a total of >135 BTC.

We could have sold our units initially for a price similar to 135 BTC. However, this was not the will of the majority of FENIX shareholders. We wanted to mine, and that's what we did.

The board considers the entire FENIX experience to be a huge success! Good work!

FenixPR

newbie

Activity: 19

Merit: 0

We are winding down this asset, and have decided to accept a price of 12 BTC from TradeFortress for our 2 Avalons. The upcoming final dividend will include a redistribution of funds from this sale.

The board would like to thank you all for mining with us. We hashed 123 BTC so far, and will be receiving an additional 12 BTC, a total of >135 BTC.

We could have sold our units initially for a price similar to 135 BTC. However, this was not the will of the majority of FENIX shareholders. We wanted to mine, and that's what we did.

The board considers the entire FENIX experience to be a huge success! Good work!

nameface

sr. member

Activity: 406

Merit: 250

The reinvestment fund has been distributed, and we are working with TradeFortress to figure out the price of the final dividend.

BlackFor3st

hero member

Activity: 1932

Merit: 506

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Quote from: maxocoin on October 23, 2013, 07:39:03 AM

Hi,

I'm non American and have 4 Fenix shares on Bitfunder.
What is the status right now?

Cheers
MC

That would interest me too!
I'm also an non-american and i hold 186 Shares on Bitfunder.

maxocoin

member

Activity: 102

Merit: 11

Hi,

I'm non American and have 4 Fenix shares on Bitfunder.
What is the status right now?

Cheers
MC

klaus_ffm

newbie

Activity: 27

Merit: 0

OK now it is obvious that the company lost >50 % by not selling the hardware as I suggested.
Hopefully we get 10 BTC for selling now, 4 months to late.

Quote from: 🏰 TradeFortress 🏰 on October 21, 2013, 03:47:38 AM

Quote from: klaus_ffm on October 20, 2013, 02:55:24 PM

Fenix should have generated >95 BTC but only 80 BTC have been paid out. Was the rest for power costs and management fees?

Quote from: nameface on September 07, 2013, 11:43:19 AM

Quote from: klaus_ffm on September 07, 2013, 07:16:13 AM

2 monthy ago we could have sold the avalons for > 200 BTC. Now Fenix is as bust as Bakewell.

We took a vote on how we should proceed upon receiving the units. IIRC only 1 person voted to sell the units.
> 200 BTC is a very optimistic figure for a sale price, it might have been only ~125 BTC. We have mined > 91 BTC with our units so far.

3% Btcguild fee, plus electricity costs, yes.

🏰 TradeFortress 🏰

vip

Activity: 1316

Merit: 1043

👻

Quote from: klaus_ffm on October 20, 2013, 02:55:24 PM

Fenix should have generated >95 BTC but only 80 BTC have been paid out. Was the rest for power costs and management fees?

Quote from: nameface on September 07, 2013, 11:43:19 AM

Quote from: klaus_ffm on September 07, 2013, 07:16:13 AM

2 monthy ago we could have sold the avalons for > 200 BTC. Now Fenix is as bust as Bakewell.

We took a vote on how we should proceed upon receiving the units. IIRC only 1 person voted to sell the units.
> 200 BTC is a very optimistic figure for a sale price, it might have been only ~125 BTC. We have mined > 91 BTC with our units so far.

3% Btcguild fee, plus electricity costs, yes.

klaus_ffm

newbie

Activity: 27

Merit: 0

Fenix should have generated >95 BTC but only 80 BTC have been paid out. Was the rest for power costs and management fees?

Quote from: nameface on September 07, 2013, 11:43:19 AM

Quote from: klaus_ffm on September 07, 2013, 07:16:13 AM

2 monthy ago we could have sold the avalons for > 200 BTC. Now Fenix is as bust as Bakewell.

We took a vote on how we should proceed upon receiving the units. IIRC only 1 person voted to sell the units.
> 200 BTC is a very optimistic figure for a sale price, it might have been only ~125 BTC. We have mined > 91 BTC with our units so far.

klaus_ffm

newbie

Activity: 27

Merit: 0

15 BTC would be perfect for the sharholders

Quote from: nameface on October 18, 2013, 11:13:47 AM

So a fair price for the Avalons is somewhere in between 12BTC and 18BTC? Therefore, it's reasonable to ask for 15BTC?

supermono

full member

Activity: 194

Merit: 100

Quote from: nameface on October 18, 2013, 11:14:54 AM

Quote from: supermono on October 18, 2013, 02:02:40 AM

I own 1 share of BAKEWELL. I sent FenixPR a PM on October 9 asking about converting it into a share of Fenix, but never received a response.

Is my share of BAKEWELL both worthless and useless now? Should I file it with my share of ZigGap?

You must communicate with TradeFortress, he manages the asset. You were supposed to have transferred him your share a long time ago.

I just tried to send TradeFortress a PM and got a red error message "User 'TradeFortress' has blocked your personal message."

Is that normal? (This is the first time I have tried to send a PM to TradeFortress.)

Thanks!

nameface

sr. member

Activity: 406

Merit: 250

Quote from: supermono on October 18, 2013, 02:02:40 AM

I own 1 share of BAKEWELL. I sent FenixPR a PM on October 9 asking about converting it into a share of Fenix, but never received a response.

Is my share of BAKEWELL both worthless and useless now? Should I file it with my share of ZigGap?

You must communicate with TradeFortress, he manages the asset. You were supposed to have transferred him your share a long time ago.

nameface

sr. member

Activity: 406

Merit: 250

So a fair price for the Avalons is somewhere in between 12BTC and 18BTC? Therefore, it's reasonable to ask for 15BTC?

supermono

full member

Activity: 194

Merit: 100

I own 1 share of BAKEWELL. I sent FenixPR a PM on October 9 asking about converting it into a share of Fenix, but never received a response.

Is my share of BAKEWELL both worthless and useless now? Should I file it with my share of ZigGap?

ProfMac

legendary

Activity: 1246

Merit: 1002

Quote from: nameface on October 17, 2013, 04:42:38 PM

What is a fair price for 2 Avalons?

A properly run auction discovers this price.

TradeHill recently had an auction of 2 module, new construction avalons, in hand, clocked at about 60 GH/s. Bids ran from about 2.21 BTC to about 3.00 BTC.

With this information in hand, Avalon is offering 2 module units at 6 BTC each.

klaus_ffm

newbie

Activity: 27

Merit: 0

The best price pay people on ebay as many don't calculate the hardeware break even. You would get probaly 2500 USD for 120 GH.

http://www.ebay.com/itm/1st-of-2-Avalon-4-module-ASIC-bitcoin-miner-110-GH-possible-IN-HAND-SHIPS-FAST-/331045667320?pt=LH_DefaultDomain_0&hash=item4d13dc01f8

If you calculate with a diff increase of 30% every 10 days than the FAIR value is about 9.5 BTC without power costs.

Did we save only 35 BTC? 60 % of 95 BTC should be a few more, right?

Quote from: nameface on October 17, 2013, 04:42:38 PM

What is a fair price for 2 Avalons?

Topic: [BitFunder] Fenix. Hashing from the ashes of Bakewell. (Read 12266 times)