Clearly not the sharpest pencil in the drawer.
let me try to explain really slowly... the hardware is worth more than it will ever mine, and far more than it will ever generate after fees. Ive been saying this since spring, the least worst thing that could happen for shareholders is liquidation. The sooner the better. Wasnt this hardware purchased at like 5 or 7 BTC/TH ? There was some hope zero dividend day would prompt a liquidation, making the current price possibly even attractive. Lowering fees, as predicted, pushes this out, and cryptx will keep pushing this out until the hardware is worthless, because he only cares about his fees. Enjoy your crumbs in the meanwhile, Mr "247% annual return ".
Third time, for the very, very slow: yesterday we didn't make dividend. Today costs were lowered, dividend resumed, share price up.
Third time, for the very, very Puppet: Explain to me any way in which this is bad news for shareholders (not you, who are not a shareholder, and have other ways of assessing what is good news and bad).
I am not:
a) saying this is an amazing investment, as-it-stands-now.
b) saying this will turn everything around and everything is ok.
c) saying this is the best possible course.
But it is discouraging to me to come here and see the incessant trolling with an instant post about how only idiots will think this reduction of costs, resumption of dividends and subsequent rise in share price is good news. How, on Earth, could it *not* be construed as good news?
Just this thing. Not everything else. I am not commenting on your other hundreds of posts on this topic, Puppet. Just this one. Surely, it is good news?
Here is another way to think about it.
Yes, it is good news that money is flowing out to shareholders again, but better news would be if they decided to liquidate the mine, and here is why...
If all assets were sold off right now, a last dividend of somewhere between .0007 and .001 btc per share would be sent out to all shareholders.
If cryptx continues to hold the machines and mine, they will pay out a lot less than that per share in dividends, and the price that you could get for the machines on the market will continue to go down, effectively decreasing the amount of final dividend that will be distributed.
So yes, it is better that they are paying out dividends instead of keeping the mining revenues for themselves, but it could be even better if they just sell everything and pay out the proceeds.
Also, did anyone else feel like the update was a giant FU to everyone? It sounded really really smug to me and sort of like, yea whatever F you all I will do want i want. Also ScryptX should have lowered fees now too since we now know that the hosting fee was not the bottom dollar that they could charge people.
