Author

Topic: 📈 NastyFans: The Bitcoin Enthusiast Fan Club (est. 2012) - page 208. (Read 959607 times)

sr. member
Activity: 388
Merit: 250
new singles cost a little more than double compared to the old singles.
sr. member
Activity: 352
Merit: 250
UPDATE:
A Motion has been raised to update the terms of our contract to reflect the higher output of our newly ordered ASIC mining equipment.  Please vote.

https://glbse.com/vote/view/78

240,000 Mh/s divided by 25,000 shares comes out to 9.6 Mh per share. I'm not clear on how 20 Mh/share is being arrived at. Is share issuance being limited to 12,000 until additional hardware acquisitions are made?

You buy 1/800 of a single for each share. 2 singles give you 1 asic single. So each share is worth 1/1600th of the ASIC single.
BFL states it will get 40/GHz so 40.000/1600 =  25 mh/share.

So my question is why we aren't getting 25 mh/s a share? Electicity cost are very low so a 25% difference is little big imo. Or am I missing something?

Also the normal singles are still on the way so we will get dividends once they arrive?
legendary
Activity: 1316
Merit: 1005
UPDATE:
A Motion has been raised to update the terms of our contract to reflect the higher output of our newly ordered ASIC mining equipment.  Please vote.

https://glbse.com/vote/view/78

240,000 Mh/s divided by 25,000 shares comes out to 9.6 Mh per share. I'm not clear on how 20 Mh/share is being arrived at. Is share issuance being limited to 12,000 until additional hardware acquisitions are made?
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
UPDATE:
A Motion has been raised to update the terms of our contract to reflect the higher output of our newly ordered ASIC mining equipment.  Please vote.

https://glbse.com/vote/view/78
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
I think I may have been the first person to order the SC Singles, so our dividends could get pretty exciting in October...
I think there is going to be a very interesting period when the ASICS first hit.  Hopefully we can time it right AFTER a difficulty change so we get a full two weeks of bliss!

I think there will probably be a few months where ASICs are extremely profitable.  Who knows how long GPU miners will stick around or how many will convert to ASIC mining. This could lead to a mining consolidation, which would make it much more profitable for the remaining miners.

I saw that Bit-Pay confirmed we were the first to order SC Singles.  It was a little bit of luck, but nevertheless should be good for shareholders and the stock price. 
hero member
Activity: 560
Merit: 500
I am the one who knocks
I think I may have been the first person to order the SC Singles, so our dividends could get pretty exciting in October...
I think there is going to be a very interesting period when the ASICS first hit.  Hopefully we can time it right AFTER a difficulty change so we get a full two weeks of bliss!
sr. member
Activity: 294
Merit: 250
Bitcoin today is what the internet was in 1998.
I think I may have been the first person to order the SC Singles, so our dividends could get pretty exciting in October...

Yep, you were the first to order the singles, but you weren't the first to order.

https://bitcointalksearch.org/topic/bfl-preorders-what-did-you-get-who-has-the-lowest-order-number-89521

EDIT: Oh wait you already posted on that thread Tongue
legendary
Activity: 1316
Merit: 1005
Six SC-singles? Nice!

To get ASIC mining started as quickly as possible, would it be possible to put up the funds initially to have the ASICs delivered immediately, then have your balance credited upon BFL receipt of the FPGA units?
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
UPDATE:
I have just placed the order for our BitForce SCs from Butterfly Labs.  We should be near the VERY top of the list.   Grin

EDIT: Order confirmed by Butterfly Labs.

This would have been a bit more exciting if it wasn't for those 5 (6?) months we have to wait for it now Wink but still, great news Smiley
I only wish I had more cash right now so I could order a coffee warmer for myself Smiley

It should be less than 4 months if BFL can hit their shipping estimate (a big IF).  We still have FPGA Singles on the way, which will arrive before then and will provide some dividends while we wait.  Not to mention I think I may have been the first person to order the SC Singles, so our dividends could get pretty exciting in October...
cst
member
Activity: 110
Merit: 10
The Cosmos doesn't care about you.
UPDATE:
I have just placed the order for our BitForce SCs from Butterfly Labs.  We should be near the VERY top of the list.   ;D

EDIT: Order confirmed by Butterfly Labs.

This would have been a bit more exciting if it wasn't for those 5 (6?) months we have to wait for it now ;) but still, great news :)
I only wish I had more cash right now so I could order a coffee warmer for myself :)

donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
UPDATE:
I have just placed the order for our BitForce SCs from Butterfly Labs.  We should be near the VERY top of the list.   Grin

EDIT: First to order SCs confirmed by Butterfly Labs.
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
should we insure the hardware? we could do this via dividends in the future.

I really don't think it is necessary.  Insurance will only protect against theft or something like flooding or a house fire.  I have several large dogs, guns & a house alarm to deter theft.  I also do not live in an area where flooding is a problem and hope that my house doesn't catch fire.  The major concern would be the product breaking, at which point we'd be dependent on BFL's warranty program.  So personally, I think insurance would be a waste of money.  That being said, we can definitely vote on it if enough shareholders are interested.
donator
Activity: 164
Merit: 100
i would suggest, that at there should be a reserve in bitcoin totaling at least 10% of the ognastys market capitalisation to hedge ognasty against volatility and another 10% in dollar/euro.

i don't mind if you pay out dividends at all, i would even prefer to not beeing payed dividends if the aquisation of capital could be neede in the near future, cause own earnings are much cheaper than taking a loan, offcourse.

So i would prefer the paper-only earnings rather than dividends. but this is anyway something that needs to be discussed by the shareholders!
(dividends vs. capitalparking is always the main issue at stockholder meetings)

I like those ideas, and I agree that they would be best for the long term growth of the company.  Once we start seeing some profits I am definitely willing to put up a few motions to see if shareholders are interested in taking a portion of the profits and using them to invest or save.  When it comes to what to do with the profits, it is up to the shareholders.  Most will want dividends, but I could see a motion to use a % of profits for a transparent investment portfolio passing.

These sound like fantastic ideas, another idea that popped into my head, should we insure the hardware? we could do this via dividends in the future.
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
donator
Activity: 164
Merit: 100
glad to be part of this  Grin
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
UPDATE:
More than 5GH/s has now been ordered for this operation.

So what exactly is the situation.  Is this additional hardware or is nothing currently mining?  What is the ETA to be mining / anticipated dividends payout?

We have several units on order with Butterfly Labs currently. A couple of the units were ordered 5+ weeks ago. I'd imagine we'll have them whenever BFL completes their next production run. If I can get one sooner from a 3rd party for a reasonable price, I will do so. No matter what happens, I'm planning to start paying dividends in some form starting in July.
sr. member
Activity: 285
Merit: 250
UPDATE:
More than 5GH/s has now been ordered for this operation.

So what exactly is the situation.  Is this additional hardware or is nothing currently mining?  What is the ETA to be mining / anticipated dividends payout?
sr. member
Activity: 285
Merit: 250
Shared up & subbed.    * Can't wait for some nasty little dividends. *
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
UPDATE:
More than 5GH/s has now been ordered for this operation.
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
i would suggest, that at there should be a reserve in bitcoin totaling at least 10% of the ognastys market capitalisation to hedge ognasty against volatility and another 10% in dollar/euro.

i don't mind if you pay out dividends at all, i would even prefer to not beeing payed dividends if the aquisation of capital could be neede in the near future, cause own earnings are much cheaper than taking a loan, offcourse.

So i would prefer the paper-only earnings rather than dividends. but this is anyway something that needs to be discussed by the shareholders!
(dividends vs. capitalparking is always the main issue at stockholder meetings)

I like those ideas, and I agree that they would be best for the long term growth of the company.  Once we start seeing some profits I am definitely willing to put up a few motions to see if shareholders are interested in taking a portion of the profits and using them to invest or save.  When it comes to what to do with the profits, it is up to the shareholders.  Most will want dividends, but I could see a motion to use a % of profits for a transparent investment portfolio passing.
Jump to: