Topic: btt - page 102. (Read 407332 times)
With 778 yays and 0 nays and 778/973 votes counted I believe it's safe to say the motion has passed. I will look to make a small strategic GPU purchase, but only one that makes sense.
Daily dividend of 0.25727364 BTC paid.
All GPUs are presently doing their thing at bitparking.
Daily dividend of 0.25727364 BTC paid.
All GPUs are presently doing their thing at bitparking.
TY for that.
No I'd rather not be talking about GPU purchases at all at this point, but there are a lot of miners selling equipment cheaply that could help us maintain a high yield while we wait for the ASIC fog to be lifted. I believe this can be done with very little effect on future profitability.
No I'd rather not be talking about GPU purchases at all at this point, but there are a lot of miners selling equipment cheaply that could help us maintain a high yield while we wait for the ASIC fog to be lifted. I believe this can be done with very little effect on future profitability.
Spent wisely I believe we can add an additional 650Mh/s for this sum which would add an additional
[snip]
Like the company's other GPUs their resale value will have to be evaluated and they will be liquidated or re-purposed as warranted.
[snip]
Like the company's other GPUs their resale value will have to be evaluated and they will be liquidated or re-purposed as warranted.
Sounds good.
Motion to make a small(20BTC or less) GPU hardware purchase. This would include the company's reinvestment fund(.83BTC) + up to 19BTC from the treasury.
With the delay of the company's ASIC mining hardware, it will become increasingly difficult to maintain an attractive APY to attract additional investors without expanding mining hardware
With the delay of the company's ASIC mining hardware, it will become increasingly difficult to maintain an attractive APY to attract additional investors without expanding mining hardware
Would the extra GPUs be able to recoup the capital expense in such a short time frame?
Unlikely, at least purely from mining. Spent wisely I believe we can add an additional 650Mh/s for this sum which would add an additional .1BTC/day in revenue at current difficulty, but at current rate it wouldn't pay for itself until June. This is ignoring additional electrical costs which I would absorb. I still believe it's a good move however as chosen carefully the GPUs could retain much of their value in a future liquidation. This is why I favor additional GPUs over the purchase of more efficient FPGA hardware.
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After the bASICs finally get here, what happens to these GPUs?
Like the company's other GPUs their resale value will have to be evaluated and they will be liquidated or re-purposed as warranted. If they're viable LTC miners and that makes sense from a profitability/expense standpoint then they'll be scrypt mining until it's no longer profitable, otherwise they'll be liquidated and the proceeds distributed to shareholders.
Motion to make a small(20BTC or less) GPU hardware purchase. This would include the company's reinvestment fund(.83BTC) + up to 19BTC from the treasury.
With the delay of the company's ASIC mining hardware, it will become increasingly difficult to maintain an attractive APY to attract additional investors without expanding mining hardware
With the delay of the company's ASIC mining hardware, it will become increasingly difficult to maintain an attractive APY to attract additional investors without expanding mining hardware
Would the extra GPUs be able to recoup the capital expense in such a short time frame? After the bASICs finally get here, what happens to these GPUs?
Motion to make a small(20BTC or less) GPU hardware purchase. This would include the company's reinvestment fund(.83BTC) + up to 19BTC from the treasury.
With the delay of the company's ASIC mining hardware, it will become increasingly difficult to maintain an attractive APY to attract additional investors without expanding mining hardware. Capacity exists to add one or two additional GPUs without incurring expenses beyond the GPUs themselves. With careful selection it should be possible to increase hashrate and therefore dividends by 30-40% in the short term with a small investment at this time.
As the company's contract specifies funds be used for the bulk purchase of ASIC hardware, I seek shareholder approval for this proposed purchase.
With the delay of the company's ASIC mining hardware, it will become increasingly difficult to maintain an attractive APY to attract additional investors without expanding mining hardware. Capacity exists to add one or two additional GPUs without incurring expenses beyond the GPUs themselves. With careful selection it should be possible to increase hashrate and therefore dividends by 30-40% in the short term with a small investment at this time.
As the company's contract specifies funds be used for the bulk purchase of ASIC hardware, I seek shareholder approval for this proposed purchase.
Also, as BTC difficulty has increased while LTC difficulty has not I've switched to LTC mining with the company's main rig. I've put some time into tuning for optimal performance, but feel there is more room for improvement and hope to pick up some more hashes as time allows. Mining as timonex @ kattare, results can be seen here:
http://ltc.kattare.com/api.php?api_key=0769299bc0dc69d7eebc44cc23300cdaf443c1497d1a99afd15699182716019b
This should lead to a modest increase in dividend payments at current conversion rate.
http://ltc.kattare.com/api.php?api_key=0769299bc0dc69d7eebc44cc23300cdaf443c1497d1a99afd15699182716019b
This should lead to a modest increase in dividend payments at current conversion rate.
No, professional it was not. He's since made comments that the CNY dates were a misunderstanding AND that bASIC will not ship until mid to end of March. Disappointing news to say the least. I apologize to bASIC-MINING investors. I'm attempting to add additional GPU based mining capacity on a temporary basis until BTCFPGA ships the company's ASIC.
Not entirely sure what to make of this post from Tom over the weekend:
https://www.btcfpga.com/forum/index.php?topic=882.0
As the CNY dates are incorrect I don't see how this effects anything, but I'm seeking clarification. Since potential delays in BTCFPGA's shipping plans will obviously effect bASIC-MINING, it is something investors and potential investors should be aware of.
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I have a partial status update - I was hoping to release all the info at once but I know some of you feel like you are in the dark about what is going on, I do not intend to keep you in the dark about whats going on here - really I am just so consumed with this project and making sure it is a success and ships in a competitive time frame, I have really been focusing on this and I apologize for not keeping you updated as I once did.
More than one aspect of the bASIC device relies on countries that will be celebrating Chinese New Year Spring festival from 01/10-01/25
It Seems that all the ASIC mining device manufacturers are going to be affected by this Holiday.
The spring festival lasts 15 days and could potentially delay things significantly for all of us.
If anyone has ever ordered anything from China during one of their many festivals you know that its near impossible to get anything out of the country during this time.
Our layout is completed and I need to get the PCB's into fabrication - about an 8 day process. If they can't ship to me in a timely manner because of Chinese New year I can potentially have these PCB's fabricated domestically although it will cost me more money. Which I am prepared to pay if it will mean a more timely release, but is not an ideal situation. I usually get my boards fabricated by pcbcart which I have had many good experiences with - they are very professional, timely and inexpensive. If they will cause major delays because of the holiday I can have the boards fabbed at our assembly house which will save a lot of time. They are domestic and this will bring more parts of the process under the same roof - which will of course be a huge time savor.
One thing I cannot change is how the ASIC packaging and shipment which should be coming very soon will be effected by this holiday. This is what I am trying to determine, and I will let you know as soon as I know. Maybe I will know as early as Monday morning my time - these folks usually go back to work late Sunday night (my time ) and when they email me It's usually there for me early Monday morning.
We are in the final stretch here, we have this final logistical challenge but trust me I am working very hard and I am completely focused on getting this figured out and making sure we get this ramped up AS SOON AS POSSIBLE.
It is very important for us to give our customers a competitive edge. We understand the kind of investment this is for you guys. You have money invested and you expect to get a return - we consider it a part of our jobs to give you the best return possible and as you all know there are many aspects that will affect your ROI - the big one of course is timely delivery everyone wants to get in before the initial ASIC driven difficulty jump and we promise to do everything we can to make this happen for you.
One other edge we can offer is our hosting plan - this will allow overseas customers to begin enjoying mining profits the same time as domestic miners, it will also give you the advantage of paying a small monthly fee instead of paying outrageous electrical usage bills.
So Basically if I can get the ASICs at least on their way here before the 10th I think we will be in very very good shape, and this is what I am striving for - everything else is either already completed or nearly completed and things are falling into place.
This is going to be a very interesting month, we will see how this holiday affects BFL, Avalon and ourselves. On the web site
http://www.avalon-asics.com/ it says they are shipping in 14 days but I have also heard them say on the forum that they will try to get as many units shipped as possible before the Chinese New year Starts. To me this sounds conflicting but I could be wrong.
So please continue your patience my friends and I promise to continue to update this every day - However I don't think I will know about the ASIC shipping until Monday , maybe Tuesday.
Stay tuned for my next update this time tomorrow
and thank you to all of our customers - we appreciate you all very much.
Until then
Tom
More than one aspect of the bASIC device relies on countries that will be celebrating Chinese New Year Spring festival from 01/10-01/25
It Seems that all the ASIC mining device manufacturers are going to be affected by this Holiday.
The spring festival lasts 15 days and could potentially delay things significantly for all of us.
If anyone has ever ordered anything from China during one of their many festivals you know that its near impossible to get anything out of the country during this time.
Our layout is completed and I need to get the PCB's into fabrication - about an 8 day process. If they can't ship to me in a timely manner because of Chinese New year I can potentially have these PCB's fabricated domestically although it will cost me more money. Which I am prepared to pay if it will mean a more timely release, but is not an ideal situation. I usually get my boards fabricated by pcbcart which I have had many good experiences with - they are very professional, timely and inexpensive. If they will cause major delays because of the holiday I can have the boards fabbed at our assembly house which will save a lot of time. They are domestic and this will bring more parts of the process under the same roof - which will of course be a huge time savor.
One thing I cannot change is how the ASIC packaging and shipment which should be coming very soon will be effected by this holiday. This is what I am trying to determine, and I will let you know as soon as I know. Maybe I will know as early as Monday morning my time - these folks usually go back to work late Sunday night (my time ) and when they email me It's usually there for me early Monday morning.
We are in the final stretch here, we have this final logistical challenge but trust me I am working very hard and I am completely focused on getting this figured out and making sure we get this ramped up AS SOON AS POSSIBLE.
It is very important for us to give our customers a competitive edge. We understand the kind of investment this is for you guys. You have money invested and you expect to get a return - we consider it a part of our jobs to give you the best return possible and as you all know there are many aspects that will affect your ROI - the big one of course is timely delivery everyone wants to get in before the initial ASIC driven difficulty jump and we promise to do everything we can to make this happen for you.
One other edge we can offer is our hosting plan - this will allow overseas customers to begin enjoying mining profits the same time as domestic miners, it will also give you the advantage of paying a small monthly fee instead of paying outrageous electrical usage bills.
So Basically if I can get the ASICs at least on their way here before the 10th I think we will be in very very good shape, and this is what I am striving for - everything else is either already completed or nearly completed and things are falling into place.
This is going to be a very interesting month, we will see how this holiday affects BFL, Avalon and ourselves. On the web site
http://www.avalon-asics.com/ it says they are shipping in 14 days but I have also heard them say on the forum that they will try to get as many units shipped as possible before the Chinese New year Starts. To me this sounds conflicting but I could be wrong.
So please continue your patience my friends and I promise to continue to update this every day - However I don't think I will know about the ASIC shipping until Monday , maybe Tuesday.
Stay tuned for my next update this time tomorrow
and thank you to all of our customers - we appreciate you all very much.
Until then
Tom
https://www.btcfpga.com/forum/index.php?topic=882.0
As the CNY dates are incorrect I don't see how this effects anything, but I'm seeking clarification. Since potential delays in BTCFPGA's shipping plans will obviously effect bASIC-MINING, it is something investors and potential investors should be aware of.
We had another busy day of sales yesterday, yielding us enough BTC at current exchange rates to obtain a fourth bASIC01 when they become available.
242 BTC have been raised in total for our bulk purchase. Thank you investors!
242 BTC have been raised in total for our bulk purchase. Thank you investors!
great news!
Yes it is!
Daily dividend of 0.25776634 BTC(0.00028995/share) paid.
We had another busy day of sales yesterday, yielding us enough BTC at current exchange rates to obtain a fourth bASIC01 when they become available.
242 BTC have been raised in total for our bulk purchase. Thank you investors!
242 BTC have been raised in total for our bulk purchase. Thank you investors!
great news!
Tom continues to tease. 
*still holding breath... starting to turn blue*
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