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Topic: Black Arrow R9-12 threads, DZ Miners Co-op. Plz move ?s and discussion here. - page 13. (Read 25184 times)

full member
Activity: 205
Merit: 100
So R17 is now closed.
legendary
Activity: 4256
Merit: 8551
'The right to privacy matters'
 
well we are getting near to payout time.  for r5 r6  plus  r9-r12  . hash is still low for r9-r12 about 2.2th . with the knc added.  r9-r12 is short close to 20 btc since it started since nov 1st.

  my nerves get on edge for various reasons 3000 in buy out and about 1.6 in btc should be done by monday the  nerves should calm down a bit.  hopefully . whatever is done with r9-r12 is over by monday as not knowing ties up a lot of decisions for me.



I ask this if btc had jumped really crazy up to 5k. the short fall would be 100,000 usd.  frankly it is 16,000 usd right now.  this is not good. i do not want to address a huge amount like 100,000. if coins can go from 105 in sept to 1150 on thanksgiving weekend. they could jump from the current 800 or so to 5000 by  late dec. asking r9-r12 to run with a 20 btc shortfall hurts all of us.  lets do this quickly.
full member
Activity: 219
Merit: 100
Ethics and Science need to shake hands
Havent forgot about you guys- I am starting to deploy some of my fixes now. Sorry it took so long, R15-16's jupiters kept shutting off and that took all of my attention.

Bob,
Can we please have specifics on the sale so we can make an educated decision?

Is the offer that was originally agreed (price and price to GB members per share) to still on the table as of the 14th of Dec?   
If we agree to the sale how long will it take to get the funds, convert to BTC and sent out? The faster this is done the more it will mitigate risk for GB leaders and GB members. At this point a sale on the weekend may drive the fiat exchange rate up.
It would really help to get the GB leaders input. Would you guys like to see the sale go through? I know you have covered losses in the past but that can't and should not continue forever.
Is it safe to assume the GB leaders will not be making up for lost hash rate going forward?
Will the sale happen if there is a majority vote "yes" even if all the members have not voted?

Will have to vote either way tomorrow but it would really help to hear from you guys on this matter.
Thanks
DBA
newbie
Activity: 6
Merit: 0
For those who dont want to sell...

Even if bob is able to get the hash up to 10gh/s and keep it there (unlikely) and the difficulty goes up by 25% (conservative) we will never see $290 per share

http://btcinvest.net/en/bitcoin-mining-profit-calculator.php?diff=908350862.43702&dcosts=0&diff_mincrease=25&blpbtc=25&dhsmhs=10000&diff_mincreasedecrease=0.1&btcusd=832.64&dpowcon=0&btcusd_mincrease=0&pcost=0&calcweeks=20&dleadtime=0&action=calc

http://bitcoinwisdom.com/bitcoin/calculator

selling is the best option!
This calculator is ridiculous, difficulty is not going to constantly go up by 25% every time until it hits 60 billion, it would take many times more than all the asic hardware that's coming down the pipeline to do that.  Difficulty will go up and then level off somewhere in the billions range, maybe like 8-9 billion but it's not going to 60 billion this year.

Don't get me wrong, I think the $290 offer is a good offer but let's use realistic numbers not crazy ones.  I voted to sell by the way, so I'm actually for selling but based on realistic numbers these units should recoup the 290 and then some, it'll just take some time and it might be worth it to have cash in hand to deploy on other mining projects.

lol fair point, i guess all im trying to say is even if these chips can mine the $290 it wont do so till well into April at best. Where if you sell now you can put that money in the r17 chips and get 5 times the hashing power which will start in february, so there is no sense in holding these chips now, as it has been mentioned by phillip and other members
hero member
Activity: 608
Merit: 500
For those who dont want to sell...

Even if bob is able to get the hash up to 10gh/s and keep it there (unlikely) and the difficulty goes up by 25% (conservative) we will never see $290 per share

http://btcinvest.net/en/bitcoin-mining-profit-calculator.php?diff=908350862.43702&dcosts=0&diff_mincrease=25&blpbtc=25&dhsmhs=10000&diff_mincreasedecrease=0.1&btcusd=832.64&dpowcon=0&btcusd_mincrease=0&pcost=0&calcweeks=20&dleadtime=0&action=calc

http://bitcoinwisdom.com/bitcoin/calculator

selling is the best option!
This calculator is ridiculous, difficulty is not going to constantly go up by 25% every time until it hits 60 billion, it would take many times more than all the asic hardware that's coming down the pipeline to do that.  Difficulty will go up and then level off somewhere in the billions range, maybe like 8-9 billion but it's not going to 60 billion this year.

Don't get me wrong, I think the $290 offer is a good offer but let's use realistic numbers not crazy ones.  I voted to sell by the way, so I'm actually for selling but based on realistic numbers these units should recoup the 290 and then some, it'll just take some time and it might be worth it to have cash in hand to deploy on other mining projects.
hero member
Activity: 546
Merit: 500
Owner, Minersource.net
Havent forgot about you guys- I am starting to deploy some of my fixes now. Sorry it took so long, R15-16's jupiters kept shutting off and that took all of my attention.
newbie
Activity: 16
Merit: 0
I feel that we need to sell this equipment as it is quickly going to be outdated.  Best to sell and re-invest in newer tech.

I want to sell while the equipment is still worth something.  Just my two bits Smiley
sr. member
Activity: 336
Merit: 250
For those who dont want to sell...

Even if bob is able to get the hash up to 10gh/s and keep it there (unlikely) and the difficulty goes up by 25% (conservative) we will never see $290 per share

http://btcinvest.net/en/bitcoin-mining-profit-calculator.php?diff=908350862.43702&dcosts=0&diff_mincrease=25&blpbtc=25&dhsmhs=10000&diff_mincreasedecrease=0.1&btcusd=832.64&dpowcon=0&btcusd_mincrease=0&pcost=0&calcweeks=20&dleadtime=0&action=calc

http://bitcoinwisdom.com/bitcoin/calculator

selling is the best option!

Agreed!  As an investor I have made the mistake of holding certain investments a little too long. I would rather this not be one of the shoulda coulda events in my life. I have learned no matter what I wanted out of my investments, a profit realized is better than waiting for more and then watching it become worth less.

To each his own vote, vote for your own reason, my vote is sell.

Regards,
newbie
Activity: 6
Merit: 0
For those who dont want to sell...

Even if bob is able to get the hash up to 10gh/s and keep it there (unlikely) and the difficulty goes up by 25% (conservative) we will never see $290 per share

http://btcinvest.net/en/bitcoin-mining-profit-calculator.php?diff=908350862.43702&dcosts=0&diff_mincrease=25&blpbtc=25&dhsmhs=10000&diff_mincreasedecrease=0.1&btcusd=832.64&dpowcon=0&btcusd_mincrease=0&pcost=0&calcweeks=20&dleadtime=0&action=calc

http://bitcoinwisdom.com/bitcoin/calculator

selling is the best option!
sr. member
Activity: 434
Merit: 250
Getting close to the vote now, betting a lot of people have already voted, but I'd still like to hear more about whether we can realistically expect the hashrate of this GB to improve.
full member
Activity: 219
Merit: 100
Ethics and Science need to shake hands
I am not one who watches that hash rate every minute but we all know it has been a struggle. Perhaps it is time to to embrace this sale before we are all stuck with no buyer and hardware that was an alpha product.

Me either. But isn't all Bitcoin mining hardware an "alpha product" by definition? Every new bit of mining kit that comes out is fresh from R&D. I'm still not convinced any other hardware will be more reliable. But the R17 hardware does seem like it has less points of failure (no need for RPIs), so maybe that is the best choice.



Yes agreed to a point. I would say KNC gear is at least Beta. If it weren't for the consistency of the one adding hash power to our GB it would be a big loss.
I am also thinking down the road to the KNC products. The price this GB leaders has/had was very reasonable. You would not be mining tomorrow but in the end that may be the best course of action to gain BTC. I would love for them to do a small GB with 4 or 5 people splitting 3000GHS+. My only fear is the delivery timing as we all know. At the rate that these guys are going they may even end up with shares as a cloud mining service who knows.

Hopefully Bob can chime in that will be the deciding factor for me. If he can't because of the time restraints I will vote yes.
sr. member
Activity: 434
Merit: 250
I am not one who watches that hash rate every minute but we all know it has been a struggle. Perhaps it is time to to embrace this sale before we are all stuck with no buyer and hardware that was an alpha product.

Me either. But isn't all Bitcoin mining hardware an "alpha product" by definition? Every new bit of mining kit that comes out is fresh from R&D. I'm still not convinced any other hardware will be more reliable. But the R17 hardware does seem like it has less points of failure (no need for RPIs), so maybe that is the best choice.

full member
Activity: 219
Merit: 100
Ethics and Science need to shake hands
Without more information I am leaning towards selling as well. If the hardware will not work with a certain level of stability what else it there to do? I agree with some of what was said. You could invest on another GB that has more stability if you wish.

I am not one who watches that hash rate every minute but we all know it has been a struggle. Perhaps it is time to to embrace this sale before we are all stuck with no buyer and hardware that was an alpha product.

  • If we agree to the sale how long will it take to get the funds, convert to BTC and sent out? The faster this is done the more it will mitigate risk
  • It would really help to get the GB leaders input. Would you guys like to see the sale go through? I know you have covered losses in the past but that can't and should not continue forever.

DBA
legendary
Activity: 4256
Merit: 8551
'The right to privacy matters'
Yes I am .  here is why: he voted against the sale (his words not mine) which means he lacks faith in bob, dz and Thomas to get us a good offer.  

Also he lacks belief that r17 would be good for him once again that is questioning the brains of dzCoop.   So if you do not trust the heads of the coop why hold the shares?

So not selling and keeping your assets with DZMC suggests that you have less trust in DZMC than when you're selling the shares? Logic?
Imo, holding the shares equals to putting more trust in the DZMC, relying on the fact that bobsag3 will come up with a fix to increase the hashrate.


May I remind you btw that the volatile nature of bitcoin also poses a risk to the profitability of selling the shares vs holding them? Bitcoin could very well rally up to a point when exchanging the money from the deal into BTC will result in less BTC than gained from keeping the miners running.

I'm not saying you're wrong, you have a reasonable chance of being right. But imho you're assuming too much, too confident that selling the shares is the right thing.
Have you voted already? If not, wouldn't it be wise to atleast wait untill the 14th to see what bobsag3 has to say and see what the conversion rate is at?


To whoever is in charge of the deal, at what time will the $ be converted into BTC?

yes if the sale is made the btc to usd rate is very critical. as is the timing

  as for logic it is simple I trust dzCoop so if they make me an offer I trust the offer to be good.   they are giving me choice to take cash out and do what i want to do.  at this point to fix the shortfall then need to add about 20 btc to this weeks payout.  and they need to make the hash go to 3.3th.    they have said they can not do this or at least they have said it is too hard to do this.  the gear needs too much tweaking.    so for me it is time to move on to other dZcoop offers.    I have purchased some r17 and want some more.  I have no need to go into my pocket to do this as I will wait for the 15th of this month.  when they give some payout for r5-r6 and r9-r12 I will buy more r17.   if they buy us out here I will get 10 shares of r17 and 1 share of r20.
no buy out means only  1 share of each.

At no time have they said A) we are giving you the choice to collect 20btc to be split 400 ways and we are jumping back to 3.3th.    that has not been an offer to us.

As for being afraid of btc jumping after the payout just hold the btc.  I agree that if the deal is made and btc jumps to the moon before we get paid we are screwed. 
member
Activity: 69
Merit: 10
Yes I am .  here is why: he voted against the sale (his words not mine) which means he lacks faith in bob, dz and Thomas to get us a good offer.  

Also he lacks belief that r17 would be good for him once again that is questioning the brains of dzCoop.   So if you do not trust the heads of the coop why hold the shares?

So not selling and keeping your assets with DZMC suggests that you have less trust in DZMC than when you're selling the shares? Logic?
Imo, holding the shares equals to putting more trust in the DZMC, relying on the fact that bobsag3 will come up with a fix to increase the hashrate.


May I remind you btw that the volatile nature of bitcoin also poses a risk to the profitability of selling the shares vs holding them? Bitcoin could very well rally up to a point when exchanging the money from the deal into BTC will result in less BTC than gained from keeping the miners running.

I'm not saying you're wrong, you have a reasonable chance of being right. But imho you're assuming too much, too confident that selling the shares is the right thing.
Have you voted already? If not, wouldn't it be wise to atleast wait untill the 14th to see what bobsag3 has to say and see what the conversion rate is at?


To whoever is in charge of the deal, at what time will the $ be converted into BTC?
legendary
Activity: 4256
Merit: 8551
'The right to privacy matters'
still under hashing.  looks like 1.8 not 3.3 and no knc miner added


http://www.dzminercoop.com/?page_id=302

 we have earned about 18 btc since dec 1st

we are short about 5btc in just the dec 1 to dec 11 time frame

at a diff of 908 mill  3.3th earns 1.827 btc a day.  
the current 1.8th on lines earns .9966 btc a day

roughly  .83 btc short each day if the rate stays at 1.8 vs 3.3


so if the dividend was today it would be 18/400 = .045  a share   it should be 23/400 or .0575 a share.    in usd it would be  39.96   vs 51.06  these figures do not count expenses and are rough estimates.  

 but the idea that $40  vs $50  means  as of today we are on schedule for 80% of what should be paid.

 
_________________-----------------______________________----------------------------_______________________---------------------
 total shortfall since the first day of hashing is a bit over 20btc  or 20/400 = .05 btc about 45 usd a share.
legendary
Activity: 4256
Merit: 8551
'The right to privacy matters'
I think the offer is really good, but I have to wonder why. What does the buyer know that we don't? and for that reason, I voted no.

 that was not so clever as you may think.

  frankly if you don't trust them to look out after us you should have voted to take you cash out in r9 to r 12.

I must say, philipma, that your logic here is a mystery to me.
If I understand correctly, the buyer who made the offer is from outside of DZMC? Therefore, why do you imply, that thetopham mistrusts DZMC?

Re voting, I am waiting for a final say from Bob. He mentioned bringing a few tricks to try, so let him try.

The hardware has been underperforming so far and it appears to be a hosting nightmare from maintenance POV, so I might vote yes to sell for purely humanitarian reasons, but I need a final assessment from Bob to decide.


Yes I am .  here is why: he voted against the sale (his words not mine) which means he lacks faith in bob, dz and Thomas to get us a good offer.  

Also he lacks belief that r17 would be good for him once again that is questioning the brains of dzCoop.   So if you do not trust the heads of the coop why hold the shares?

Okay lets put this another way.  I believe in the coop.  I believe in  black arrow and I believe r17 will whale.  I have a degree in accounting and have years of tax /investment experience ..   DzCoop   has 70% of its hash in r17.  if the gear sucks DzCoop is really going to take a hit.
  Since r9 -r12 buyers have 3x their fiat  and the gear has problems  and r17 is coming closer..    Here are the possible out comes

 1)R17 is great.   this means all older gear is not so great. maybe  only 10-15 % of what it is now
 2)R17 is meh.     this means all older gear is still not so great but  lets say a 70% drop not an 85%  drop in power
 3)R17 is terrible   crashing and burning dzcoop to the ground
 4)Dzcoop are bad guys and vanish in a few days.

All of the above are possible.

1)If the first one is true voting no to  sale r9-r12 prevents putting the money into r17
2)If the second one is true voting no to the sale of  r9-r12 is less bad  but still prevents picking more of r17 or bailing out of both
3)If the third is true  voting no prevents  getting out some cash now.
4)lastly if this is true insisting on the buyout might expose the con ending sales in r17 so less is stolen.

I would like my 11 x 287 = 3157 usd ..

I would buy  10 shares of r17   1300

 keep 1 btc    = 957 usd

 and cash for 900 usd at coin base.

this investment move  above  would be pretty much unbeatable  compared to mining with my 11 underperforming shares.

 1 share = 8.3 gh      that will not mine 287 usd at today's prices.
11 share = 91.3 gh   this will not mine 3157 usd at today prices.

If coins go down it is worse to have held.  if we sold and I cash 900 usd I lower that problem.

If coins go up  I simply will be holding 1 btc so I will do okay.  

 If diff goes nuts. I will turn my 91.3 gh into 400 gh.
legendary
Activity: 4256
Merit: 8551
'The right to privacy matters'
I think the offer is really good, but I have to wonder why. What does the buyer know that we don't? and for that reason, I voted no.

 that was not so clever as you may think.

  frankly if you don't trust them to look out after us you should have voted to take you cash out in r9 to r 12.

I must say, philipma, that your logic here is a mystery to me.
If I understand correctly, the buyer who made the offer is from outside of DZMC? Therefore, why do you imply, that thetopham mistrusts DZMC?

Re voting, I am waiting for a final say from Bob. He mentioned bringing a few tricks to try, so let him try.

The hardware has been underperforming so far and it appears to be a hosting nightmare from maintenance POV, so I might vote yes to sell for purely humanitarian reasons, but I need a final assessment from Bob to decide.


Yes I am .  here is why: he voted against the sale (his words not mine) which means he lacks faith in bob, dz and Thomas to get us a good offer.  

Also he lacks belief that r17 would be good for him once again that is questioning the brains of dzCoop.   So if you do not trust the heads of the coop why hold the shares?
hero member
Activity: 546
Merit: 500
Owner, Minersource.net
bob also is responsible when he gets back to get the 4 knc machines waiting for him to get online for R15,16

hopefully it will not take much of his time.

sit tight

I have ~8 boxes waiting for me... Gotta love tight schedules Smiley
sf2
sr. member
Activity: 273
Merit: 250
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