Topic: [BitFunder] Fenix. Hashing from the ashes of Bakewell. - page 3. (Read 12266 times)
Coupons is paid. Starting today it's simply 1 week's worth of dividends every Thursday.
People don't understand that we need to double hashing power every month to stay even with the increase of difficulty.
Market cap of Fenix dropped below 80 BTC so shareholders lost 90% of their investment the second time. The only reasonable action was to sell the 2 avalons and start with a new IPO.
I wish I had sold my shares the first day...
Honestly I agree, however I felt too guilty to sell as to me that devalued all the hardwork the team(strello,nameface,ect) has put in to even make this security possible so honestly I already had seen it as money lost anyway so any money back is good and it's a basic little hedge if I'm wrong about difficulty increases. However if we have much in the reinvestment jar we might look into this new price on blades from asicminer. https://bitcointalksearch.org/topic/block-erupter-bladelow-price-limited-quantityout-of-stock-282867 Cheapest miners that we can get ASAP. ~~2500mH/s per BTC which is the best price I've found and could get us back in the game a bit however who knows if we'd even get this investment back with new asic companies shipping.Market cap of Fenix dropped below 80 BTC so shareholders lost 90% of their investment the second time. The only reasonable action was to sell the 2 avalons and start with a new IPO.
I wish I had sold my shares the first day...
People don't understand that we need to double hashing power every month to stay even with the increase of difficulty.
Market cap of Fenix dropped below 80 BTC so shareholders lost 90% of their investment the second time. The only reasonable action was to sell the 2 avalons and start with a new IPO.
I wish I had sold my shares the first day...
Honestly I agree, however I felt too guilty to sell as to me that devalued all the hardwork the team(strello,nameface,ect) has put in to even make this security possible so honestly I already had seen it as money lost anyway so any money back is good and it's a basic little hedge if I'm wrong about difficulty increases. However if we have much in the reinvestment jar we might look into this new price on blades from asicminer. https://bitcointalksearch.org/topic/block-erupter-bladelow-price-limited-quantityout-of-stock-282867 Cheapest miners that we can get ASAP. ~~2500mH/s per BTC which is the best price I've found and could get us back in the game a bit however who knows if we'd even get this investment back with new asic companies shipping. Market cap of Fenix dropped below 80 BTC so shareholders lost 90% of their investment the second time. The only reasonable action was to sell the 2 avalons and start with a new IPO.
I wish I had sold my shares the first day...
The only reasonable action was to sell the 2 avalons and start with a new IPO.
It makes no sense to sell our machines because we pay no management fee and we have extremely low power costs. "The only reasonable action" was and continues to be mining Bitcoin.
There has been no trading below 0.0799, and I suspect that price undervalues FENIX (but who knows...)
We'll have to start considering our next move now. I had a meeting last night about a group buy that went very well.
note: We pay NO management fee. Our listing on BitFunder has always been incorrect and will be changed soon.
hero member
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Merit: 500
It's all fun and games until somebody loses an eye
People don't understand that we need to double hashing power every month to stay even with the increase of difficulty.
Market cap of Fenix dropped below 80 BTC so shareholders lost 90% of their investment the second time. The only reasonable action was to sell the 2 avalons and start with a new IPO.
I wish I had sold my shares the first day...
Market cap of Fenix dropped below 80 BTC so shareholders lost 90% of their investment the second time. The only reasonable action was to sell the 2 avalons and start with a new IPO.
I wish I had sold my shares the first day...
What are you talking about? The high was 0.027, the low is 0.004684, that is a loss of about 82.7%, not 90%, and there were several dividend payments in that timeframe as well, about 4.5%, which brings the loss (if you bought at the peak) to somewhere around 78.2%. But that is just if you bought at the peak (on the first day), most of the shares were carryovers from Bakewell, how much did you actually pay for those shares?
If we have a miner currently mining, it would be silly to sell it and start over. If we sold it what would we buy, the same model we just sold? Plus we would miss out on all the mining while we wait for new hardware.
People don't understand that we need to double hashing power every month to stay even with the increase of difficulty.
Market cap of Fenix dropped below 80 BTC so shareholders lost 90% of their investment the second time. The only reasonable action was to sell the 2 avalons and start with a new IPO.
I wish I had sold my shares the first day...
Market cap of Fenix dropped below 80 BTC so shareholders lost 90% of their investment the second time. The only reasonable action was to sell the 2 avalons and start with a new IPO.
I wish I had sold my shares the first day...
Our most recent motion was passed unanimously!
To clarify the changes:
60% of FENIX revenues now go directly into our Reinvestment Growth Fund
40% Are paid out in the form of a weekly coupon on Thursdays
To clarify the changes:
60% of FENIX revenues now go directly into our Reinvestment Growth Fund
40% Are paid out in the form of a weekly coupon on Thursdays
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
What happened to Ian Bakewell?
He is probably still lurking around here somewhere under a different user name.
you guys are like the only people out of the 100000000000000 people who have been ripped off to actually do something about it !!
great work =)
Ian is probably still checking for the UPS man to deliver the ASICs every day :p
great work =)
Ian is probably still checking for the UPS man to deliver the ASICs every day :p
Q. How was Fenix born?
By the time Ian Bakewell was revealed to be a scammer, most investors thought it was too late to do anything about it. A very few, including strello, nameface, TradeFortress, and wisard thought differently. They stayed in constant communication over bitcointalk, and fought hard for months to recover the units.
By the time Ian Bakewell was revealed to be a scammer, most investors thought it was too late to do anything about it. A very few, including strello, nameface, TradeFortress, and wisard thought differently. They stayed in constant communication over bitcointalk, and fought hard for months to recover the units.
I must say this shit is pretty impressive. Well done strello, nameface, TradeFortress, wisard & co.
Ditto here. Looks like the method and lawyers you guys deployed, may be needed on the Avalon thread!
What happened to Ian Bakewell?
Q. How was Fenix born?
By the time Ian Bakewell was revealed to be a scammer, most investors thought it was too late to do anything about it. A very few, including strello, nameface, TradeFortress, and wisard thought differently. They stayed in constant communication over bitcointalk, and fought hard for months to recover the units.
By the time Ian Bakewell was revealed to be a scammer, most investors thought it was too late to do anything about it. A very few, including strello, nameface, TradeFortress, and wisard thought differently. They stayed in constant communication over bitcointalk, and fought hard for months to recover the units.
I must say this shit is pretty impressive. Well done strello, nameface, TradeFortress, wisard & co.
4. Make the asset a 100% PMB
Note: BTW If I'm doing something screwed up, or if I'm missing some great opportunity somewhere please lambaste me in the thread.
Thank you for the quick reply Nameface.
I couldn't agree more. That's why I'm interested in your company.
I'm fine with this answer as shareholders can vote later. Seems pretty fair to me.
Quote
Nobody seems to want FENIX to be a fund, or to invest in 'Bitcoin things other than mining'. We just want to mine with our own equipment.
I couldn't agree more. That's why I'm interested in your company.
Quote
It's immaterial how specifically we intend to invest in hardware. If this motion passes we can vote on it later.
I'm fine with this answer as shareholders can vote later. Seems pretty fair to me.
4. Make the asset a 100% PMB
Note: BTW If I'm doing something screwed up, or if I'm missing some great opportunity somewhere please lambaste me in the thread.
So if my understanding is good, instead of 70% distributed as dividend and 30% for hardware investment we switch to 40/60.
There is nothing wrong with that for me as I'm looking for long term profitability as well however, it kinda lacks of plans concerning the reinvestment in new mining hardware. Any idea at the moment ?
There is nothing wrong with that for me as I'm looking for long term profitability as well however, it kinda lacks of plans concerning the reinvestment in new mining hardware. Any idea at the moment ?
It's immaterial how specifically we intend to invest in hardware. If this motion passes we can vote on it later.
The things we could do are:
1. Halt dividends to save for hardware
2. Issue new shares to raise capital for hardware
3. Sell our units to raise capital for hardware
4. Make the asset a 100% PMB
5. Switch to a 40/60 model in order to strike a better dividend/reinvestment balance
We could do #1 #2 #3 AND #5 all at once!
But I opted put forth the this motion because it's simplest, and it balances out the concerns of those who have been vocal in this thread and in PMs.Nobody seems to want FENIX to be a fund, or to invest in 'Bitcoin things other than mining'. We just want to mine with our own equipment.
Note: BTW If I'm doing something screwed up, or if I'm missing some great opportunity somewhere please lambaste me in the thread.
So if my understanding is good, instead of 70% distributed as dividend and 30% for hardware investment we switch to 40/60.
There is nothing wrong with that for me as I'm looking for long term profitability as well however, it kinda lacks of plans concerning the reinvestment in new mining hardware. Any idea at the moment ?
There is nothing wrong with that for me as I'm looking for long term profitability as well however, it kinda lacks of plans concerning the reinvestment in new mining hardware. Any idea at the moment ?
TO ALL FENIX SHAREHOLDERS!
The time has come to make a decision regarding the distribution of our incoming BTC.
The board's recommendation is as follows:
- 60% Allocated to hardware reinvestment
- 40% Distributed in the form of a weekly dividend
------------------------------------------------------------------------
how about 60% Allocated to hardware reinvestment or buy back shares?
The time has come to make a decision regarding the distribution of our incoming BTC.
The board's recommendation is as follows:
- 60% Allocated to hardware reinvestment
- 40% Distributed in the form of a weekly dividend
------------------------------------------------------------------------
how about 60% Allocated to hardware reinvestment or buy back shares?
Why?
TO ALL FENIX SHAREHOLDERS!
The time has come to make a decision regarding the distribution of our incoming BTC.
The board's recommendation is as follows:
- 60% Allocated to hardware reinvestment
- 40% Distributed in the form of a weekly dividend
------------------------------------------------------------------------
how about 60% Allocated to hardware reinvestment or buy back shares?
The time has come to make a decision regarding the distribution of our incoming BTC.
The board's recommendation is as follows:
- 60% Allocated to hardware reinvestment
- 40% Distributed in the form of a weekly dividend
------------------------------------------------------------------------
how about 60% Allocated to hardware reinvestment or buy back shares?
Does Bitfunder not have capability to hold votes?
No. 
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
Does Bitfunder not have capability to hold votes?
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