Topic: btt - page 90. (Read 407344 times)

Hi CanadianGuy. As you may or may not be aware there has not been an abundance of opportunities to invest in deliverable ASIC mining gear. Many of our competitors have invested the majority of available funds in BFL pre-order hardware which remains undelivered after nearly one year. Doing so locked in an exchange rate at dramatically lower levels and will return far less value to investors when and if they ever receive their gear. In retrospect a larger Avalon batch 2 order would have been ideal, as would an order placed with Avalon's batch 1 pre-order, but there were three competing companies in Q4 of 2012 and Avalon didn't necessarily look like the obvious choice at that time. If Avalon had stuck to their delivery schedule we'd have a minimum of 153Gh/s right now, but like nearly every other ASIC mining gear delivery schedule that didn't happen.

I too am a shareholder in bASIC-MINING. I'd rather see our capital deployed and gear hashing for us, but the delays in tangible ASIC mining hardware and the tremendous delays between ordering/paying and actually receiving hardware have created a situation where prudence is important.

Cheers.

I would hope if we went down the road of buying an existing Avalon escrow would be in the terms of sale. Just my opinion.

Please god no...
"PAYMENT IS DUE WITHIN 24 HOURS OF THE END OF THE AUCTION. This payment can ONLY be made using Bank-Wire Transfer"
not to mention there are no items in his feedback score which even comes close to the value of this avalon.  This tells me he would be completely willing to sacrifice his perfect feedback score for this quick shady sale
at least we know he won't get scammed with AM blades.  Investing in a possible scam known as avalon carries far more risk, especially in a shady ebay sale that demands payment within 24 hours.   

avalon!!!!!
could make this guy a serious offer, 150BTC or something...

http://www.ebay.com.au/itm/Batch-2-Avalon-ASIC-Pre-Order-Bitcoin-Mining-Rig-/321131901604?pt=CPUs&hash=item4ac4f3f2a4&_uhb=1

its extremely hard to trust somebody who just keeps stockpiling shareholder money into a cold wallet.  sorry..

Paranoid much?

yeah okay..

uninvested

i was the one suggesting buying blades yesterday.  i'm looking through old posts and it's already been discussed... and after doing some math it doesn't really make sense to buy blades.

why would the owner of basicminer want to invest in another miner sercurity? would that defeat the porpose of this exercise?

anyway i'm not affiliated . I'm just a guy who bought some shares recently and hates to see that many BTC invested.

An opinion is so hard to digest when it's only behind 17 posts.  How do we know you're not the owner of basicmining trying to show his own support?
I hate posts like these.. they're so fishy..

that discussion does make sense. Blades are very inefficient use of funds and it would be wise to be patient. it's a very fine balancing act at this moment. so i'll probs vote avalon order buy then

I know this is ironic, but is it possible to put a portion of the funds in asicsminer-pt shares until a wise opportunity presents itself? i know this is overcomplicating matters and is risky. just thought i'd throw my thoughts out there, even if they are probably foolish.

thanks for making these matter democratic anyway!

Motion to purchase one or more ASICMiner blades started.

Motion to purchase a secondary market Avalon batch 1 or batch 2 mining unit started.

Cheers.

Excellent news, I praise your initiative for a motion on these decisions. And thank you for taking the time to discuss it with your shareholders here. It will be hard to get "competitive" ASICs before September. That is when I expect the "Big Rise" in difficulty that will probably make me switch all of my GPUs to scrypt mining, if any value left to Litecoin & co by then, or switch them off altogether and resell the hardware. We'll see...

Hi jmutch. I'm as frustrated with these delays as anyone. Avalon batch 3 was to begin shipping on May 5 and instead batch 2 has only recently begun shipping. That said, I feel that deploying our funds inefficiently now will cost us significantly down the road. 100BTC spent on just 20Gh/s of mining gear would give us 22.1Gh/s or 5.71Mh/s/share. This would result in a daily dividend of approximately .91BTC or 0.00023529BTC/share at current difficulty and this is without re-instating the company's growth fund. We'd also need to invest in a power supply and cooling for the blades.

The equivalent in Avalon gear is paying 335BTC for an already received batch 1 or batch 2 unit, with the added advantage of having less to manage, power supply and cooling already included, as well as stratum support. If we could purchase a unit already in the US we could also avoid possible delays with customs, as batch 1 & 2 Avalons did not include the option to ship without PSU.

I'll start a motion to get a sense of how other shareholders feel about this...better still I will start two motions comparing the two options.

Cheers.


This mirrors my feelings on the subject. While I doubt Avalon chips will be available in bulk as soon as many hope, when they are available a myriad of competitive options will surface, which will drive the price of efficient hardware lower.
  

There are lots of new ASIC hardware offers popping up on this forum (see the Mining > Hardware threads), mostly based on AVALON chips + Klondike or custom PCB design. We should keep a close eye on it.

As for the Blade, I think it wouldn't be so bad to buy just one, given that we are high on reserves and starving for investment. I took the risk myself, which implies of course that I believe chances of >100% ROI are >50% ;-)

I don't think that blades are the best investment for basic mining. If the price were to drop considerably it would be different. 50btc per unit will be hard to recoup with diminishing returns. The only decent value available right now is Avalon chips. I honestly think having a decent amount of btc on hand will reap great rewards once all the Avalon DIY projects get up and running. Multiple DIY projects should work towards bringing ASIC prices back down to reality.

I agree

buy a couple of blades to get the ball rolling??

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.

Hi malona82. The rising share price is a mechanism by which a shareholder may realize value. As there is sufficient liquidity in the market even at this low a number of outstanding shares(3832), a shareholder need only to sell shares to realize this value. The current bid is .6 which is an 81.8% increase over the initial share price of .33 on 12/17/2012. In addition 35.25368361BTC in dividends have been paid out during this time.

Cheers.