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
Reinvestment will be directly in mining equipment, and may include the purchase of shares in group buys.
Voting is open for 72 hours.
Please send a private message to FenixPR matching the template below:
###
I, ____ , own X shares of Fenix, my BitFunder address is:
(example) 1AJtCkse7ZLV3Mb1VwhhFEEV9fSsZobVss
I vote YES or NO on:
Funds being split 60% for direct hardware reinvestment (including the possibility of group buys), and 40% to be distributed in the form of a weekly coupon.
Notes/Recommendations:
###
Signature:
(example) IHaX/N/jvaQXKxvavFZLs47f52+u0Q43H3M1LYuvJvF/l6ZiMJfbMGAnjm8tocNKXS4pSffJySn1hpuPK14iOno=
Signed using:
(example) Bitcoin-QT
___
If any of you are not familiar with the process of signing a message, pls refer to the instructions below:
1. Go to http://blockchain.info/wallet/ and create a new wallet.
2. Login. And go to "Import / Export"
3. Go to "Import" in the left navigational panel.
4. Import your bitcoin address that is associated with your bitfunder.com account. This needs to be the address that is listed* on https://bitfunder.com/assetlist
5. Now go to "Receive Money" link.
6. Find your address that you just imported, and click on the "Actions" drop down to the right of it.
7. Click on Sign Message
8. Copy-paste the message and click "Sign Message" button. You will be shown a signature.
9. Send in your address, your exact signed message text, and your signature that they provide.
* If you don't own the private keys to the address listed on https://bitfunder.com/assetlist (say its a mtgox address or something) then please change your address first.
1. Create a new wallet at http://blockchain.info/wallet/
2. Login and go to "Receive Money" - you will see a new bitcoin address over there.
3. Now go to http://bitfunder.com and login in
4. Go to "Settings" page
5. On the bottom right hand side, you will see a field for "Public Bitcoin address" - paste your new blockchain bitcoin address over here and click "Change Public Bitcoin Address".
6. Go to the https://bitfunder.com/assetlist and confirm that your public address has been updated for the Bakewell security.
7. Then login to blockchain.info/wallet and proceed from Step 5 in the list above.
Topic: [BitFunder] Fenix. Hashing from the ashes of Bakewell. - page 4. (Read 12385 times)
How about putting something to a shareholder vote?
- 60% Hardware reinvestment
- 40% Dividends ( 1 per week )
Seems like a good place to start.
I also think that putting the growth fund into a "safe" place to earn a little interest while we wait for a good opportunity to order is a good idea. Coinlenders or Ukyo seem safest.
- 60% Hardware reinvestment
- 40% Dividends ( 1 per week )
Seems like a good place to start.
I also think that putting the growth fund into a "safe" place to earn a little interest while we wait for a good opportunity to order is a good idea. Coinlenders or Ukyo seem safest.
Coupons are paid at ฿0.00011056 per share.
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
It is strange: LabRatmining has 360Ghz (little more than double Fenix speed), but 67k shares (more than double Fenix amount of shares) LabRatMining is priced at 0.16. That means LabRatMining is now valued more than 10x Fenix shareprice. Although Fenix is on par and has a growthfund. Either LabRatMining is overvalued or Fenix is heavily undervalued!
LabRatMining is overvalued. Is there a way for us to short it?
I might have to get in on some of this...
It is strange: LabRatmining has 360Ghz (little more than double Fenix speed), but 67k shares (more than double Fenix amount of shares) LabRatMining is priced at 0.16. That means LabRatMining is now valued more than 10x Fenix shareprice. Although Fenix is on par and has a growthfund. Either LabRatMining is overvalued or Fenix is heavily undervalued!
I would suspect a bit of both.
It is strange: LabRatmining has 360Ghz (little more than double Fenix speed), but 67k shares (more than double Fenix amount of shares) LabRatMining is priced at 0.16. That means LabRatMining is now valued more than 10x Fenix shareprice. Although Fenix is on par and has a growthfund. Either LabRatMining is overvalued or Fenix is heavily undervalued!
A bit of selling at ~0.013. Nobody knows what it's worth 
Maybe realizing that this income is decrease everyday without clear plans to expand the hashing power?
A bit of selling at ~0.013. Nobody knows what it's worth
hmmm shareprice really took a dump any views?
Coupons are paid at ฿0.00027716 per share.
- - 60% Hardware reinvestment
- 40% Dividends ( 1 per week )
I would be happy with this.
It would basically mean sacrificing some dividends now for a larger rise in share price in the future due to a larger purchase of GHs.
Is that right?
Yes sir! The goal is to simultaneously increase our future profitability and continue to pay solid dividends.
Most real world businesses pay dividends of maybe a few %. That's how the big guys are going to play Bitcoin mining, investors returns will shrink as the market stabilizes. Specialists will be the ones who make the money. "Specialists" means chip manufacturers, but also those who make good decisions about who to deal with in the industry.
We aren't "big money", but we are hashing as we hatch a good plan. If Fenix can't grow, then I believe there is something wrong with Bitcoin.
I don't know about you guys, but I don't feel like surrendering the remaining 10 million coins to large corporations. I still want to mine.
I would like to make Fenix a sustainable business too. But there should be a business case for it.
I appreciate your comments Klaus, but why hold Fenix shares if you don't even think there is a business case for mining?
I'm looking at the chart you provided and the outlook is very good for bitfury, KNC, and HashFast IMO. These are the hardware units we are considering reinvesting in right now.
If we stop paying dividends the pps will tank to 0.01 or less.
Please check out the following links:
http://decentralizedhashing.com/bitcoin-mining-equipment-table/
http://blockchain.info/de/charts/miners-operating-profit-margin?timespan=1year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=
I would like to make Fenix a sustainable business too. But there should be a business case for it. Just invest with little chance to make a profit does not make sense to me.
Please check out the following links:
http://decentralizedhashing.com/bitcoin-mining-equipment-table/
http://blockchain.info/de/charts/miners-operating-profit-margin?timespan=1year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=
I would like to make Fenix a sustainable business too. But there should be a business case for it. Just invest with little chance to make a profit does not make sense to me.
- - 60% Hardware reinvestment
- 40% Dividends ( 1 per week )
I would be happy with this.
It would basically mean sacrificing some dividends now for a larger rise in share price in the future due to a larger purchase of GHs.
Is that right?
I know it may seem like we're turning in circles, but we're not. This is highly valuable discourse!
Peter Lambert's point is well taken. A middle ground must be sought. The board's initial decision to go 70/30 was ambitious. The dividend to reinvestment ratio is really the problem we've all been sensing from the beginning. We can all agree that FENIX should have a strong reinvestment strategy AND pay good dividends. How about:
If our goal is to stay competitive, a 60/40 ratio is far better. I don't think there's really a dire need to halt dividends altogether. Everything always feels like a rush in Bitcoin, but what we really need here is a sane overall strategy we can all agree on. If we can come to a loose consensus in this thread, then we can move on to the next problem of whether to save for our own unit or participate in a group buy.
Peter Lambert's point is well taken. A middle ground must be sought. The board's initial decision to go 70/30 was ambitious. The dividend to reinvestment ratio is really the problem we've all been sensing from the beginning. We can all agree that FENIX should have a strong reinvestment strategy AND pay good dividends. How about:
- - 60% Hardware reinvestment
- 40% Dividends ( 1 per week )
If our goal is to stay competitive, a 60/40 ratio is far better. I don't think there's really a dire need to halt dividends altogether. Everything always feels like a rush in Bitcoin, but what we really need here is a sane overall strategy we can all agree on. If we can come to a loose consensus in this thread, then we can move on to the next problem of whether to save for our own unit or participate in a group buy.
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
Part of the reason people buy assets like this is to get the steady dividends. I do not think we should be halting dividends now, who knows what the future will bring? Just save the money in a fixed percentage bond that allows buyback at face value until we have enough money to buy more mining equipment, then cash out the bonds and buy the equipment.
I agree with halting dividends until there is enough in the growth fund for an order for a Baby-jet, unless that turns out to be another pipe dream in the meantime.
Lets put it to a vote.
Lets put it to a vote.
Thread turning around, self investment is better then dilution and gambling.
I also second to redirect divs to purchase mining rig(s)
Jump to: