We're not an investment fund
I can agree with that.
Topic: btt - page 59. (Read 407332 times)
Hi AngelSky. We're not an investment fund...bASIC-Mining is a mining company and I have more than enough to do without morphing us into something we're not. I don't know anything at all about coinlenders, why should we should trust them? ...the exchange they're on? If we follow this course and these proposed investments go south(just as they've done with numerous other mining concerns) there's only one person that will be blamed for the lack of foresight. We invested in ASICMiner when we had next to zero mining revenue and I wasn't managing a minirig, four singles, four GPUs, three Avalons(with a fourth on the way), and all the power and cooling requirements that go along with dissipating 6500w.
Cheers.
Cheers.
That's precisely what I seek.
I'm an efficiency freak...I don't like our funds sitting there doing nothing either, but these forums are littered with the tales of mining companies that have been damaged or destroyed by investing surplus capital unwisely.
Agree, but I think you can put some (maybe 15-20%) in a not_so_risky place like coinlenders unless you expect to purchase something soon.
Patrick
There aren't many investments in the BTC world that provide enough liquidity for us to rapidly re-deploy our funds if and when an opportunity presents. Then there are delays with exchanges to consider. Btct.co has always been quick to respond to manual transfer requests...I simply don't have much experience with bitfunder for comparison.
Well Iam sure at least 1/2 of reserve is not going to be used anytime soon unless you find some "treasure"
That's precisely what I seek. The equivalent price paid for the minirig was 991.25 and this has been an enormous boost to shareholder value...though obviously recent events have made that less clear from a price/share perspective our APY is nearly 14% again because of that deal. Had it been necessary for me to liquidate positions at a price that preserved our capital and then wait for transfers to clear that deal may not have happened at all. We gain much more from in hand hardware investments than we do from our other investments and perhaps more importantly the risk/reward ratio is much easier to assess in the case of hardware purchases because there are fewer points of failure.
I'm an efficiency freak...I don't like our funds sitting there doing nothing either, but these forums are littered with the tales of mining companies that have been damaged or destroyed by investing surplus capital unwisely.
Cheers.
There aren't many investments in the BTC world that provide enough liquidity for us to rapidly re-deploy our funds if and when an opportunity presents. Then there are delays with exchanges to consider. Btct.co has always been quick to respond to manual transfer requests...I simply don't have much experience with bitfunder for comparison.
Well Iam sure at least 1/2 of reserve is not going to be used anytime soon unless you find some "treasure" so that part woudlnt be bad to put on the 0.05% daily bonds of ukyo (owner of bitfunfer) and/or other half to just-dice which of course is risk that in short term can be losing investment but the longer it sits there the more likely we will make a lot of money of it. And just dice BTCs would be there instantly if we needed them. Of course this is just suggestion and there are obvious risk that comes with this but as I said there isnt going to be chance to really buy a lot of miners until kncminer or bitfury starts shipping.
There aren't many investments in the BTC world that provide enough liquidity for us to rapidly re-deploy our funds if and when an opportunity presents. Then there are delays with exchanges to consider. Btct.co has always been quick to respond to manual transfer requests...I simply don't have much experience with bitfunder for comparison.
Hey creativex just an idea, the 1k+ reserve is kinda just sitting around doing nothing right now. Wouldnt it be smart to put it on somewhere like ukyo loan or just dice or coinlenders until go to "travel" again 
? I know you are not investment fund but still...
? I know you are not investment fund but still... Put it into ActM and double the reserves in a week
Now that wouldnt be "safe" and wise either. I meant something more modest
Hey creativex just an idea, the 1k+ reserve is kinda just sitting around doing nothing right now. Wouldnt it be smart to put it on somewhere like ukyo loan or just dice or coinlenders until go to "travel" again ? I know you are not investment fund but still...
? I know you are not investment fund but still... Put it into ActM and double the reserves in a week
Hey creativex just an idea, the 1k+ reserve is kinda just sitting around doing nothing right now. Wouldnt it be smart to put it on somewhere like ukyo loan or just dice or coinlenders until go to "travel" again ? I know you are not investment fund but still...
? I know you are not investment fund but still... ...
It's been a day or so since I've posted in here and some may be wondering where BTC-TC stands with things.
- BTC-TC will not be closing it's doors to US citizens. US citizens using the site are not doing anything wrong and the issues around investing in assets from the various issuers is better addressed on a per-issuer basis. For instance, a fully registered and compliant issuer should be able to have unfettered access to the entire US population, whereas an issuer that has not properly registered their company puts themselves at risk and thus we would hope would close off access to the riskier markets. (note that this registration takes many forms depending on where you are located.)
- BTC-TC will be adapting it's ToS and wording on the site to be clearer and to avoid words that imply regulation where there is not. For example, calling something a stock implies a share of a regulated, registered company, when in fact that may not truly be the case. These changes will be made over time as we work things out with the help of legal representation.
- BTC-TC will be building a set of tools to assist issuers in maintaining compliance with securities law internationally. Initially this means that we will be giving issuers the ability to solicit (or not solicit) investment on a per-country basis. Eventually we could also facilitate validation and filtering of accredited investors versus non-accredited investors.
Cheers.
Maybe that's what we expected from btct. Finally.
While I'm obviously not pleased with the happenings of the last couple days I'd hardly describe my outlook as pessimistic or depressed. I'm simply trying to plot the best course through events I cannot directly influence.
Cheers.
Cheers.
That's good to hear. I certainly understand why you aren't pleased. Honestly, though, the talk about it not putting bread on the table, gov't out of control, etc. had a dire and defeatist tone. But obviously I read that into it.
You're doing a great job, creativex.
UPDATE: burnside sees the light.
https://bitcointalksearch.org/topic/m.2805528
EDIT: I just noticed this (and I doubt its anything new) but bASIC has the highest moderator approval of all securities listed on BTCT, tubular! 
No wonders. creativex really does an awesome job!
I watched the orderbook over the last hours. It's very nice to see bids climbing again. People start to realize that they won't get BM shares for 0.4 anymore..
Over the last two days, very roughly 800 shares were sold and 350 bought.
It's reassuring to see everyone start to calm down. Creativx's dedication and steadfast attitude is another positive testament to bASIC-Mining's potential for growth.
And if I may read between the lines, or glance at the contract, it seems if outside forces become overbearing, mining infrastructure will be sold and split with everyone, and possibly the growth fund? Not sure about the latter.
EDIT: I just noticed this (and I doubt its anything new) but bASIC has the highest moderator approval of all securities listed on BTCT, tubular!
And if I may read between the lines, or glance at the contract, it seems if outside forces become overbearing, mining infrastructure will be sold and split with everyone, and possibly the growth fund? Not sure about the latter.
EDIT: I just noticed this (and I doubt its anything new) but bASIC has the highest moderator approval of all securities listed on BTCT, tubular!
not sure if this is has been asked, but what happens with the LTC that is mined? It is automatically converted to BTC or are you hoarding/waiting for when Mt Gox implements it?
These are converted and added daily whenever we're mining LTCs with our GPUs.
Cheers.
I don't see any evidence the gov't is out there guns ablazin' to take down these small time exchanges or mining contract operators. By all means, make sure you have your ducks in a row, but the impending doom talk is an overreaction.
Yeah, it's a huge overreaction, ginned up by people trying to get their hands on cheap shares. Once everyone realizes that there are no black helicopters overhead things will return to some semblance of normalcy.
I'm also thinking that this has something to do with Creative's mood; he seems to be in a state of dispair and that might affect people's long-term outlook. A huge part of the evaluation of any investment is the team or person behind it. When that entity seems to be pessimistic of depressed, investors might be frightened.
.b
noob question - why is the price so falling?
TIA
20% summer discounT! TIA
I don't see any evidence the gov't is out there guns ablazin' to take down these small time exchanges or mining contract operators. By all means, make sure you have your ducks in a row, but the impending doom talk is an overreaction.
Yeah, it's a huge overreaction, ginned up by people trying to get their hands on cheap shares. Once everyone realizes that there are no black helicopters overhead things will return to some semblance of normalcy.
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