Topic: btt - page 56. (Read 407332 times)

Hi KCBitcoin. I'm afraid you lost me with:


While I believe I understand better than most how quickly things move in the cryptocurrency world, we were mining less than .06BTC/day as recently as June 19(43 days ago). Since that time our hashrate has grown by 937,400Mh/s or 360.53% if you prefer. There have most certainly not been "months without purchasing anything" since our first Avalon arrived and prior to that our only option would have been a BFL pre-order(uh no). Our competitors have not kept pace and this is why we're able to distribute 70% of mining revenue as daily dividends while maintaining a double digit yield and still keep our growth fund growing rapidly. We're also mining our growth fund whereas our competitors are having to borrow to attempt to keep up with the torrid pace of network expansion(cites available upon request).

The purpose of my update today was to officially announce the increase of our hashrate and to update investors who may be unaware of just how well positioned bASIC-MINING is to compete in this rapidly expanding network space.

Also while it's easy to say "buy a bunch of Avalons now!" just as it was easy to say "buy a bunch of overpriced blades!" previously, I actually have to obtain, deploy, power, & cool this gear. I'm also the fella everyone will point to if/when we never make our BTCs back from these hardware investments. I think we all know there are lots of new vendors entering this space in the very near future, KNC, AMC/VMC/Active Mining/(whatever other names they have), Bitfury, etc... all have products announced with Q3/Q4 availability and all with apparently better than currently available efficiency. While Avalon efficiency is fine for now, they'll be the first ASICs shut down as difficulty increases. Rather than investing in technology that may or may not make a positive return, I'd rather invest in efficient technology that's available now(BFL & possibly Bitfury) and be ready with lots of dry powder when there are more options and shorter lead times.

Cheers.

I personally value mining companies on two points, primarily...

• Dividend growth / difficulty growth
• Management

Over the last 30 days...

• Difficulty has gone up ~75.8%
• bASIC-MINING dividend has gone up 262.25%

The stock performance and dividend growth, all while maintaining a significantly strong cash position... speaks volumes about the management's commitment to shareholder return. I like that creativex didn't just spend the cash on chips or more pre-orders. Investments in in-hand machines only have proven to be an excellent avenue for growth.

This notification was much better than the previous ones. My opinion is that the glorious share price had to be taken care of days or weeks ago. The share price would have eventually gone down with all the events we went through (SEC fear, ActiveMining, all this mess with the introduction of Coinlab), but maybe not like this (I may be wrong). The focus was (and still is) elsewhere, diluated like the price of the share. I totally agree with KC: good use of the 1100+BTC & going forward in the pursuit of new hardware is the only way to stay alive.

Good luck

Hey CreativeX,

Thanks for the awesome tinkering and the notification.

But, if your update is to try to recover the glorious share price once BM had, i will have to doubt the effect.

If you take our share price as 0.5 and Cognitive's share price as 0.48 0.52.
According to the weekly dividend paid, I have found both securities are paying around 0.000702 0.00281 dividend per bitcoin invested at the current share price.
What I am trying to say is that, our stock price is not significantly undervalued, comparing to similar companies in the same industry.
The free market has done its job.

What really needs to be done to pull up the share price is to make good use of the 1100+BTC, rather than advertising our huge reserve for months without purchasing anything.
Nowadays the price of ASIC machines have been dropping significantly, a 80GH Avalon can be bought at as low as 90btc. (which was around 130btc two weeks ago)
Therefore our reserve can buy us as much as 1TH/s hashrate. (which doubles what we have right now!)

If you really want the company's value to grow, I think this is the way to go.

Quantifying our excellent asset manager:

---

TAT.VIRTUALMINE prices 1MH/s @ BTC0.002986


This yields approximately BTC44.79 in additional asset value from creativex's optimizations

---

This is an improvement of 1.62% from the pre-optimized hashrate.

Estimated daily generation prior to optimization: BTC14.436413 (BTC0.00028872 / share)
Estimated daily generation with optimization: BTC14.670571 (BTC0.00029341 / share)


These are just rough estimates for fun to distract me momentarily from monumentally boring work-task.

I'm pleased that you find my performance to be marginally adequate sir.

The amount of rig pr0n in this thread has been acceptable. 

News:


https://btct.co/security/BASIC-MINING

Just another Single away from 1TH...  Lets go get one before we get the Ava's!  Nice work!

Are we going to see the share price goes down 50% after a good news ?  

I think they are very capable! +1

I've changed our official hashrate to 940,000Mh/s to reflect the improved performance we're now getting from our BFL gear. Official announcement & company update on btct.co to follow later today.

Cheers.

Anyone have any thoughts on Bitfury's products? They seem to have more in hand hardware to demonstrate ATM than the other vendors and interestingly they have products for August delivery which would give us a good look at their ability to meet deadlines...not to mention a good look at their products in the hands of miners. This should allow us ample time to evaluate performance prior to ordering products for October delivery.

https://bitcointalksearch.org/topic/ann-usnorth-american-bitfury-sales-new-stock-now-shipping-251966
https://megabigpower.com/shop/index.php?route=product/product&path=59&product_id=53

Cheers.

Hi JimiQ84. Unfortunately no...those that ordered sans PSU, as Avalon themselves advised, are being made to wait. I don't think it'll be much longer however. 

I've been adding a few shares here, a few shares there, while the price is low. We're definitely a touch undervalued but I also think the rush towards 1BTC was something of a bubble. Either way, bASIC is so well run I'm happy leaving coins here for months to come too.

still no tracking number on Batch #3 4-module Avalon?

Wise words. After a 13 hour kitchen work day, plus 5 caterings, then going to the bar, theres no way I'm even touching the labcoin thread, last time I went in there it was only at page 9.

Call it safe, call it non-profitable. But my money will stay in bASIC for months to come. Undervalued is an understatement imho. Let the speculators make a quick coin, when it all falls apart we'll be waiting. 

Crazy day indeed. I've increased my own stake significantly during this downdraft as I believe we're currently undervalued by the market.

Cheers.