Topic: btt - page 37. (Read 407343 times)

I'd be happy if all these vendors disappeared and the hashrate stopped increasing.  But that doesn't mean I'm going to make an investment on the assumption that it will happen.


It's lower risk then buying mining equipment from retailers that will never ROI if they all deliver (other then over a few years if you live in a cheap electricity area)

Hi guitarplinker. We're in uncharted territory, nobody knows what's going to happen with any certainty and if someone insists they do know...well...they're wrong or they have a crystal ball.

1) I've worked toward bulk pricing/preferential treatment with vendors in the past and will do so in the future.
2) We do not have any pre-orders with anyone at this time. Pre-orders have been fairly toxic for mining companies. I'm keeping abreast of knc's progress, but with so many vendors looking to ship in Q4 I can't say who's gear we'll end up with at this point. As bitfury's chips are substantially more efficient than knc's, all else being equal then we'd surely be better off with bitfury gear as it should remain profitable longer.

Odd that so many used to fret about centralization of the global hashrate. "OMG BTCGuild is at 190Th/s; OMG AM has 30% of the entire network they MUST be stopped!" Yet now so many seem fine with just a few companies running off all the chips they can and pushing every small and medium sized operation off the blockchain. Retail purchases have been a suckers bet because of fraud perpetrated by vendors. What makes so many believe that the upcoming crop of vendors with mining operations are so much more trustworthy?

Labcoin is a high risk investment. It would be irresponsible of me to risk a significant portion of our resources on such a venture. Beginning deployment of 130nm technology in September of 2013(hopefully) with 65nm in wide use and silly efficient 55nm technology shipping now won't give LC any margin for error. They'll need to get their chips hashing quickly and almost immediately begin replacing them with their 65nm chips when developed. The rewards for investors could be significant, that's why I took a stake, but I think many tend to ignore the associated risks.

I read somewhere that somebody thinks only mining bonds such as this one with ties to ASIC companies such as Bitfury will survive the following difficulty waves in the next 3 months or so. Not sure if that's completely true, but it got me thinking a couple of things:

Creativex if you have time to answer I'd appreciate it.

1.) Does bASIC have any affiliation with chip makers such as Bitfury so that bASIC can get equipment with faster speeds and lower power usage online quicker than other bonds?
2.) Is bASIC planning to purchase any KnC miners once they're released to the public and people start selling them used? Or, does bASIC have any kNC pre-orders waiting for delivery already?

Just my daily couple of questions.  Gotta keep creativex on his toes somehow! 

Lol, says the guy who wanted to flip labcoin and then bitched because he couldn't get IPO shares.  Could have got some at 0.0016 and more then doubled your money by now.


Not if it goes to zero.   Sell everything and buy LABCOIN.


Buying ASICs retail is a suckers bet at this point, absolutely.   Take half your reserves and buy LABCOIN shares.

And anyway, typically if a company doesn't know what to do with money it should return it to investors as a dividend.

Buy 30% invrements all the way down, .2, .15.. etc. Brings overall average of cost down and it WILL be worth it.

This is the last I've heard about your stroke sir, I trust Friday finds you well.

Those that have held since IPO have seen their number of shares increase 10 fold via the stock split and have also received roughly 33% of their original purchase price back in dividends all while liquidity has increased significantly. I daresay we've been among the best performing assets on btct.co long term.

Cheers.

Concerning the share price, another way to see it is to price Basic-Mining in USD

Was worth 0.33 at 90USD/BTC so one share = 29.7 USD

Now is worth 0.2 at 125 USD/BTC so one share = 25 USD.

See it is much more stable than it appears.

Whole BTC world is in great uncertainty. I guess dust will settle early next year, probably by end of february. Pre-orders will be delivered, scams unfolded and bASIC MINING will choose the best vendor for going forward :-) We just have to wait out that six months while steadily gathering more coins in reinvesment fund

Hi guitarplinker. The thing is it's not a question of resources at this time. We're sitting on over 775BTC precisely 776.5493 in reserves right now. This is enough to obtain nearly 14Th/s in pre-ordered gear from cointerra for December delivery or 4.8Th/s from bitfury for October delivery at current exchange rates(bitstamp). The problem is the same as it's been since spring/summer of 2012, and that is that locking in our funds for unproven vaporware with lead times measured in months(or years) is unwise. It's even worse than it appears because we'd also be locking in an exchange rate. An exchange rate which btw is rapidly climbing in our favor. We also cannot run out and load up on currently available hardware that's soon to be obsolete because we may or may not ever see a return on that investment. A couple such mistakes could cripple us going forward. It's my belief that when things are moving so quickly that the future is nearly impossible to predict with any level of confidence then the correct play is to shorten your scope substantially. That is, reduce risk by sticking to decisions with outcomes that can be predicted with some measure of confidence.



That's btc-e, bitstamp and gox are higher. bASIC-Mining has 775+BTC precisely 776.5493 of capital in reserves and another 10% more in highly liquid securities. Together these assets represent more than 7% of bASIC-Mining's net worth and it's rapidly increasing even while we pile up more every day in our growth fund. Also the rising exchange rate ensures that our aging equipment will be online longer so that we may continue to pile up more reserves going forward. Given all this shouldn't the share price of bASIC-Mining be trending upward? If no, then why not?

While I'm generally hesitant to engage in protracted discussions about share prices of my own securities, I think it's pretty clear the market is currently punishing the shares of mining companies, successfully managed or otherwise.

Cheers.

Edit: Added specific quantities.

Please read this:


Don't let greed and fear drive your investment decisions.

Stop. Breathe. Think.

Do I need the BTC right now?
Look at the past work that creativex has done. Do you think he will do a good job in the future?

These should be the questions that you ask.

Buy the rumor sell the news

News already came out, speculators took you to the cleaners

The truth is I bought many shares at 0.48 and get some at 0.31. after drop, i think it is the time to rise. so i bought more at 0.22.  now it is 0.18.    i nearly loss 47 btc for this investment.

should i sold some? or keep watching?

I agree, some more equipment would be nice.

I for one, would also be fine if bASIC took 10-20% off my dividend so that it's a 50/50 split between dividends and purchasing new equipment. I think in the long run that may increase dividends and if they ever went back to the 70% they are now, that would make even higher dividends.

But again, not sure if you want to do that and not sure what other shareholders think.

If anything, IMO, time to buy more.

Bring that average down and when it goes back up (it will), you'll be pleased. bASIC has to be one of the best run outfit, large capital reserves, competent management both in terms of technicality and financial reality.

The dividends talk.

Our share price is being driven by market sentiment and not fundamentals within the company. Even when we outpace the rate of network expansion it doesn't prop up the share price it merely increases our yield. Prevailing sentiment is that small mining companies and individual miners will be unable to compete in the near future. That I personally believe they're mistaken doesn't matter. I will continue to focus my efforts on the things within my sphere of influence.
 
Cheers.

 I PM'd him with the Alberta one but I just realized now reading your post that it was a 30G.  I thought it was a 50!  Seems kinds pricey now.

Take care

I don't need the money right now. I just don't see how the price can go up anymore.
Sure, next gen asics...well everyone will have next gen asics by then.

For the last weeks i just hoped the price will go up even a little bit short term so i can dumpthem but that just made me lose even more so far.
I accept the fact that it will never reach the price anymore at which i bought them (highest price of course) i just don't want to lose 75% of my investment.

Are there any positive short term predictions or are there no signals whatsoever the price will go up anymore? Am i better off selling right now?

If you don't really NEED "cash" BTC then wait until January, when our first 2nd gen ASIC will start hashing. (just assumption, but real one)