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Thanks for the heads up. I see they're moving more shares than ASICMiner on Bitfunder...someone buys their story.
yeah, the asset issuer.
Topic: btt - page 87. (Read 407344 times)
With 2590/3972 yes votes(65.2%) I'm going to proceed with the assumption that the motion to invest a portion of idle funds in ASICMiner-PT will pass. If enough votes are changed over the next few days to alter the outcome of this motion I will liquidate whatever shares have been acquired at the best price available. I feel it's in our best interest to obtain these shares over time so as to maximize shareholder value.
Last dividend from ASICMiner was .02653753/share. With a current 24h avg share price of 2.5131 that translates to a generous APY of 55.061%. Their current hash rate(23.97Th/s) and share of the network(28.28%) are both at or near all time highs.
Cheers.
Last dividend from ASICMiner was .02653753/share. With a current 24h avg share price of 2.5131 that translates to a generous APY of 55.061%. Their current hash rate(23.97Th/s) and share of the network(28.28%) are both at or near all time highs.
Cheers.
Good decision. Call it a savings account for when the time is right
This is so much better than dead money 
With 2590/3972 yes votes(65.2%) I'm going to proceed with the assumption that the motion to invest a portion of idle funds in ASICMiner-PT will pass. If enough votes are changed over the next few days to alter the outcome of this motion I will liquidate whatever shares have been acquired at the best price available. I feel it's in our best interest to obtain these shares over time so as to maximize shareholder value.
Last dividend from ASICMiner was .02653753/share. With a current 24h avg share price of 2.5131 that translates to a generous APY of 55.061%. Their current hash rate(23.97Th/s) and share of the network(28.28%) are both at or near all time highs.
Cheers.
Last dividend from ASICMiner was .02653753/share. With a current 24h avg share price of 2.5131 that translates to a generous APY of 55.061%. Their current hash rate(23.97Th/s) and share of the network(28.28%) are both at or near all time highs.
Cheers.
This seems rather obvious but if BASIC-MINING buys AM shares, even if the target is PT on BTC-TC (which is better for liquidity, ok), if the market price sets the bids <2.5 too low in the order book, then do not buy at market price but buy direct shares at 2.5 (fixed price through bulk sellers), then transfer them to BTC-TC via burnside.
I haven't confirmed their order with Avalon, but this seems legit:
SPRINGFIELD, MO, – May 28, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines is announcing today that they have ordered (Order: #10409) a full batch (10,000) of Avalon chips to build ~29 Fast-Hash-80's for AMC should AMC provide the capital in the next few weeks, this would bring AMC machine total to 39 units. The 39 machines will bring the cooperatives hash power to 3,504,000 MH/s, 3,504 GH/s, or 3.504 TH/s. At the current Difficulty of 12,153,411.71 this will bring the estimated total revenue as of this writing to a total of $19,280.28 per day and a yearly amount of $5,398,450.75. AMC is a hybrid mining and development cooperative and a business unit of VMC.
Would publishing AMC's bitcoin address add transparency since we can see proof of purchase of Avalon chips, etc.
I think it would: Here is the address we are holding bitcoins at to purchase the chips: 16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP
We would like to purchase a full batch as group purchases have a commission of about 9.5%
Where did the other 460BTC go?
We have already made deposits to VMC for machines and they have purchased Avalon chips in steamboats batch 1.
We will be posting on bitfunder a full accounting of the funds by the 15th of June for the month of May.
Thanks for the heads up. I see they're moving more shares than ASICMiner on Bitfunder...someone buys their story.
really glad to see the fund taking action to reduce the number of BTC sitting in cold storage, and measuring investor opinions on various options.
Just want to point out that VMC/AMC is almost certainly a scam (ok, its certainly a scam to some degree, I'm just not sure if its 100% scam or only mostly scam) and should not be part of any conversation about this security.
Just want to point out that VMC/AMC is almost certainly a scam (ok, its certainly a scam to some degree, I'm just not sure if its 100% scam or only mostly scam) and should not be part of any conversation about this security.
VMC/AMC has posted the receipts for their Avalons and order number for Avalon chips:
Avalon can easily confirm or deny their validity.
But yes, I'd like to hear from somebody who actually met Ken at Bitcoin 2013 before we invest in their hardware.
really glad to see the fund taking action to reduce the number of BTC sitting in cold storage, and measuring investor opinions on various options.
Just want to point out that VMC/AMC is almost certainly a scam (ok, its certainly a scam to some degree, I'm just not sure if its 100% scam or only mostly scam) and should not be part of any conversation about this security.
Just want to point out that VMC/AMC is almost certainly a scam (ok, its certainly a scam to some degree, I'm just not sure if its 100% scam or only mostly scam) and should not be part of any conversation about this security.
What about an AMC pre-order? They have lots of Avalon chips on the way.
Fast-Hash-80 80GH/s Bitcoin 2013 Special 20% Off Special Good Thru 5/21/2013
http://virtualminingcorp.com/shop/index.php?id_product=8&controller=product
BTC 68.00
Tons of expansion options too!
Virtual Mining Corporation is now taking pre-orders for its
Fast-Hash-80 80 GH/s Bitcoin Mining Machine.
www.virtualminingcorp.com
Fast-Hash-80 80 GH/s Bitcoin Mining Machine.
www.virtualminingcorp.com
Fast-Hash-80 80GH/s Bitcoin 2013 Special 20% Off Special Good Thru 5/21/2013
http://virtualminingcorp.com/shop/index.php?id_product=8&controller=product
BTC 68.00
Tons of expansion options too!
Hey iCEBREAKER. Happen to know if they have a confirmation date on receipt of those chips? Does anyone? This is not btw a rhetorical question.
I'd expect Avalon to ship batch 3 prior to shipping their chips or there will likely be some unhappy customers. I noticed from the pics on VMC's site that they have a standard PC IO on that unit, I wonder how there's room to house chips and cooling in there with a PC board(even mATX) as well. I wonder if there are pics of the unit open available?
Cheers.
I haven't confirmed their order with Avalon, but this seems legit:
SPRINGFIELD, MO, – May 28, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines is announcing today that they have ordered (Order: #10409) a full batch (10,000) of Avalon chips to build ~29 Fast-Hash-80's for AMC should AMC provide the capital in the next few weeks, this would bring AMC machine total to 39 units. The 39 machines will bring the cooperatives hash power to 3,504,000 MH/s, 3,504 GH/s, or 3.504 TH/s. At the current Difficulty of 12,153,411.71 this will bring the estimated total revenue as of this writing to a total of $19,280.28 per day and a yearly amount of $5,398,450.75. AMC is a hybrid mining and development cooperative and a business unit of VMC.
Would publishing AMC's bitcoin address add transparency since we can see proof of purchase of Avalon chips, etc.
I think it would: Here is the address we are holding bitcoins at to purchase the chips: 16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP
We would like to purchase a full batch as group purchases have a commission of about 9.5%
Where did the other 460BTC go?
We have already made deposits to VMC for machines and they have purchased Avalon chips in steamboats batch 1.
We will be posting on bitfunder a full accounting of the funds by the 15th of June for the month of May.
my thoughts are that we need to do something with a portion of the funds in the bank. I would rank them asic aftermarket>blades>AM shares. But definitely think something has to be done. There is going to be some risk associated with buying AM shares but then again there is the same risk of owning basic shares.
Agree with using AM pt shares to keep things liquid and utilise non invested capital. somewhere between 50-200.
Disagree with playing the market for profits. This is way out of the arena of bASIC and is risky. however if these profits come naturally then well....
Disagree with playing the market for profits. This is way out of the arena of bASIC and is risky. however if these profits come naturally then well....
My only problem with ASICMINER is there is a lot of future hardware sales priced into the shares, and as fickle as this market is, and as stupidly as they trade, at least buy on the bid which is very thin, so if someone crushes the bid you are there supporting it somewhat.
I personally wouldn't buy as large an exposure, as few as 30-40 shares would double our weekly dividend rate. I just have a mental malfunction letting lose of the bank with the risk of someone else's mining, even though I do hold ASICMINER-PT personally. So it is not the security suggested, it's the current value and the ease to get out if needed. Sure we can get out easy now while the demand is high, but when we want out, it will be under other circumstances, mostly something negative has happened, like the Chinese government sticking their nose where it doesn't belong.
I personally wouldn't buy as large an exposure, as few as 30-40 shares would double our weekly dividend rate. I just have a mental malfunction letting lose of the bank with the risk of someone else's mining, even though I do hold ASICMINER-PT personally. So it is not the security suggested, it's the current value and the ease to get out if needed. Sure we can get out easy now while the demand is high, but when we want out, it will be under other circumstances, mostly something negative has happened, like the Chinese government sticking their nose where it doesn't belong.
My thoughts on AM right now are buy low sell high. Once the pricepoint calms down then we should look into this. Im expecting the pricepoint to be much closer to 2 btc once the intial flood of orders dividend go out. Also I think we should look at full shares instead of pt shares we wont need the advantages of a pt share because we will be holding these shares unless you plan to have them turned over I know burnside will transfer the pt shares to friedcat if requested. Maybe we should just get our feet wet with 100 shares and watch the prices saturday as they seem the lowest then. Just my thoughts btw I left AM to come here.
ASICMINER-PT seems pretty calm the last week:
Not sure I follow your reasoning on direct share purchase from friedcat. I'd like to keep the funds liquid and the btct.co PT now has over 21k shares traded, which will provide far more liquidity than direct shares can. There's no administration fee and 100% of dividends are being dispersed.
Cheers.
My thoughts on AM right now are buy low sell high, right now AM is "high" once the pricepoint calms down "IE AM just experienced over 200% growth in 30 days" then we should look into buying "low". Im expecting the pricepoint to be much closer to 2 btc once the intial flood of orders dividend go out. Also I think we should look at full shares instead of pt shares we wont need the advantages of a pt share because we will be holding these shares unless you plan to have them turned over I know burnside will transfer the pt shares to friedcat if requested. Maybe we should just get our feet wet with 100 shares and watch the prices saturday as they seem the lowest then. Just my thoughts btw I left AM to come here.
Edit
Upon further thought one advantage with pt shares is we could sell put options though to cover any losses if there would be a sudden drop.
Edit
Upon further thought one advantage with pt shares is we could sell put options though to cover any losses if there would be a sudden drop.
NEW MOTION POSTED at https://btct.co/security/BASIC-MINING
Sorry for the recent motion spam.
Quote
Shall bASIC-MINING invest idle capital in shares of ASICMiner-PT and distribute 100% of the resulting dividends to shareholders?
Sorry for the recent motion spam.
Aside from Avalon's batch 2 delivery I don't see a whole lot on the immediate horizon that's likely to threaten ASICMiner's share of the network. I believe the largest of those dividends was dispersed following their second hardware auction, so hardware sales are clearly figuring into the dividends. While I haven't closely tracked their ongoing blade sale thread I have noted that they're currently selling their USB mining devices and these appear to be well received even at a price that's prohibitively high IMO.
I can follow your reasoning on this. With things put this way, I wouldn't object BASIC buying AM shares (direct or PT, whatever you feel more appropriate). It seems like the best option to use the funds right now indeed.
Do any shareholders object to bASIC-MINING purchasing 200 shares of ASICMiner-PT on btct.co and distributing 100% of the dividends to shareholders? If so what are your concerns?
My primary concern about this would be the max. price of your bids to buy the shares. I couldn't find the topics right now but AFAIK there are still multiple sellers of thousands of direct shares at 2.5 fixed price and they seem to sell slowly at this price. IMHO the current price of 2.4-2.5 makes it a risky investment (more than the Blades I would say, but it's just my opinion of course)
Hi matt4054. The last three weekly dividends from friedcat have averaged over .02/share. A share price of 2.5BTC would offer a daily yield of at least 0.11428% or an APY of 41.714% if that dividend is maintained. Aside from Avalon's batch 2 delivery I don't see a whole lot on the immediate horizon that's likely to threaten ASICMiner's share of the network. I believe the largest of those dividends was dispersed following their second hardware auction, so hardware sales are clearly figuring into the dividends. While I haven't closely tracked their ongoing blade sale thread I have noted that they're currently selling their USB mining devices and these appear to be well received even at a price that's prohibitively high IMO.
Cheers.
Gee, i need to put more time into posting. I did not mean for that comment to come of harsh or frustrated...
I believe that there would be minimal risk at purchasing 100-200 shares at 2.3-2.4. Of course this is my opinion. Open to discussion.
I believe that there would be minimal risk at purchasing 100-200 shares at 2.3-2.4. Of course this is my opinion. Open to discussion.
You're fine, I'm wired up on coffee due to a late night and early morning.
This is something I've considered multiple times over the past few weeks anyway, particularly as the delays with Avalon's SMT line have pushed delivery back.
Cheers.
Do any shareholders object to bASIC-MINING purchasing 200 shares of ASICMiner-PT on btct.co and distributing 100% of the dividends to shareholders? If so what are your concerns?
My primary concern about this would be the max. price of your bids to buy the shares. I couldn't find the topics right now but AFAIK there are still multiple sellers of thousands of direct shares at 2.5 fixed price and they seem to sell slowly at this price. IMHO the current price of 2.4-2.5 makes it a risky investment (more than the Blades I would say, but it's just my opinion of course)
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