Thanks for reaching out, TAT, I was expecting the competition to rear its head :-)
I have no problem with competition, it would be foolish for ANY mining asset to think they will be the last or dominant one. I just think you have earned the same scrutiny you provide to everyone else
And I quite welcome it :-)
Belittle the projections all you like, but you and I both know difficulty is poised to raise by the range I noted, this is accepted across the mining industry, not some bit of paranoia. You have preached to no end about the impending hash onslaught while claiming gloom and doom to ASICMINER shareholders. Now you are joining the fray, welcome!
I'm not sure why you've understood that I've attacked ASICMiner on a perpetual proportinal growth theory. In fact, my estimates are far, far below what any 25% forever growth will mean, which I think I've made clear on numerous occasions.
Also you don't have to mask your comparisons in coughs. TAT.VM pays its holders, and has been for weeks, BFMINES is selling promises on a moving calendar. There is no comparison, until you are actually hashing at least...
Very true, which is why the bond is designed with a discount and a bonus dividend for investors, which will happen in the period when the bond is most profitable.
If the bonus dividend is at 16% for six months, that effectively means the bond pays dividends for 1.16mh/s in those first critical months. In fact, and for the sake of an example only, if the difficulty remains steady for the next six weeks and Metabank delivers in a best-case scenario, this means the yield is almost 1% per day (based on TAT.VMs current divs at 0.00003223 per day multiplied by 1.16 and a price of 0.004).
You're right, though, we both (and investors too) know that this isn't going to be the case, but it is the other extreme from the scenario where everything grows proportionally forever.
This is far better priced and has a discount compared to options available today.
Untrue, there are other mining assets charging less for future hashes (AMC is a great example, and they even pay divs in the interim, using mining equipment they have already)
AMC is a company so it's not really comparable. I don't compare this to AM either. 100TH is technically the closest and best option today, but due to recent events, I'm not considering it a reasonable asset anymore, despite it being one of my previous favorites.
Honestly, I think PAJKA is the most competitively priced asset outside this, with TAT.VM as a second.
- If you believe in the perpetual proportional mining growth theory, don't by this PMB (or any PMB or mining equipment for that matter)
- If you think that mining difficulty at some pint must flatten out and you think mining will remain profitable long enough to reap a reward, this PMB is the most competitively priced asset on the market
So, what you're saying is, don't buy this asset unless you think difficulty will stop going up? Sound advice.
What I'm saying is eactly what I wrote. It doesn't make change to change that statement when you're quoting it :-)
For those of you that don't know, Furuknap and myself have had some lively debates over IRC, it's mostly just sparring, and I hope I don't look too petty giving him a hard time here, but in the end what he is selling is not deceptive or unethical (just overpriced! bazinga!) It's also not lost on me that I also sell a PMB, but I created mine partially to make it harder for people to overcharge for PMBs, including ones that seem more inexpensive..
I concur; do not hold TATs arguing against him as petty squabble from a competitor. TAT is a great guy with good arguments and we've been discussing this both public and in private. I welcome his debate because it allows me to argue my case for why I believe this is a much better priced PMB than anything else on the market. I value his opinions and it has greatly influenced how I designed this asset, especially the pre-release terms.
However, now I really must go. I'm in the process also (as you would expect) of writing an article to present the various sides of the issue. If you'd like to read my current articles on PMBs, feel free to pick up your free complimentary copy right here:
http://coin.furuknap.net/understanding-mining-bonds/http://coin.furuknap.net/are-perpetual-mining-bonds-scams-not-really/.b