[PicoStocks] 100TH/s bitcoin mine [100th] - page 28.

Bitweasil

sr. member

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So...

Where do we sit on this project?

Quote

Hardwarewill be produced and assembled in June 2013. Mining will start at the data center on 2012-07-01. Estimations based on a predicted realistic continuous monthly network hashrate increase of 100TH/s (starting from 0TH/s on 2013-01-01) and selected today’sBTC exchange rate of 17 USD point to a return of investment of 500k USD in 3 months after mining starts, i.e. in September 2013. Total income over the next 4 years after subtraction of the initial investment costs of 500k USD amount to 2.7M USD.

It's mid October, and we're not even up to the stock 100TH, much less the revised 200TH. And there's very little communication.

I regret investing in this project at this point. I'd have been better off spending the 30btc on silver.

kaerf

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Quote from: Andrey on October 16, 2013, 02:04:21 PM

Quote

We are down for maintanance.
We will be up shortly.

der..thx. i was refreshing a direct link.

Andrey

hero member

Activity: 588

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Quote

We are down for maintanance.
We will be up shortly.

kaerf

hero member

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picostocks.com looks broken again

goxed

legendary

Activity: 1946

Merit: 1006

Bitcoin / Crypto mining Hardware.

Quote from: buzzdave on October 12, 2013, 11:49:05 AM

ETA to 200TH - I'm not going to give one. We have a lot of hardware coming by end of the month. We have plenty of boards coming that are created specifically for the mine, and should allow us to achieve 200TH (and surpass it).

Tytus has been improving security on the picostock site, while also helping improve the stability of the mining operations. I think our block creation is much more consistent now.

I expect share price to begin to reflect our actual hashrate/dividend creation much more than it used to. Speculators will always attempt to push prices up (or down) in order to take advantage of those investors that are easily scared out of positions. As we add hashrate & dividend creation, you'll be able to determine a fair price to buy or sell your shares on any given day.

What does arming a session do exactly? I tried to click on the arming link on the email but I got another email for arming the session along with new link, so on and so forth.

SebastianJu

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I remember again why i bought in at that price. It wasnt smart since the mine couldnt provide that but i bought in because deploying started. I simply awaited that the shareprice is reflecting that but it didnt.
I think ill stay away for any normal non-reinvesting mining securities that doesnt have their own miner design since what i found from those is that once the mine is fully established the shareprice slowly drops while the div slowly drops too. Thought the divpayments cant compensate the drop in sharepricevalue. Its even the same for mining companies that reinvest but have to buy miners nearly at enduserprices.
So no, i dont blame 100TH for my loss. Though im not pleased about the stop in deploying since i maybe could have gotten a better selling price. Its only a pity that a security that theoretically have such a high annual return isnt reinvesting so that the annual return remains only theoretical.

SebastianJu

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Quote from: gyverlb on October 12, 2013, 11:47:17 AM

Quote from: SebastianJu on October 12, 2013, 11:17:00 AM

[...]
Though its a bit annoying to see that the founder already makes big bucks while the shareholders that helped him to this point probably wont see roi.
I sold all of my shares now and lost 83%... i have to blame myself for not calculating properly before investing...

If you sold all of your shares, you sold at a price above the IPO (which was 0.04BTC).

The shareholders who helped the founders with their investment in ASIC where the ones buying at IPO time at 0.04BTC. Those will most certainly make a profit from the dividends. They could even still make a profit by simply selling their shares now (as they are valued above 0.05 currently).
The shareholders who bought above 0.20BTC this summer when difficulty was rising in 20% increases were speculators (simple income projections shown that a 0.20BTC total dividends per share was a best case scenario) buying not from the founders but from all shareholders (including the founders). So they may have given big bucks to the founders (among others) but this had nothing to do with the initial investments but everything with speculation.

Yes, i sold at 0.057. But bought at 0.38. Yes, my stupidity for not calculating it through. I used http://mining.thegenesisblock.com/ for seeing what it will be alike and since 200TH will be the end of the line i sold everything yesterday.
I shouldnt complain... if i had calculate before...

buzzdave

vip

Activity: 472

Merit: 250

ETA to 200TH - I'm not going to give one. We have a lot of hardware coming by end of the month. We have plenty of boards coming that are created specifically for the mine, and should allow us to achieve 200TH (and surpass it).

Tytus has been improving security on the picostock site, while also helping improve the stability of the mining operations. I think our block creation is much more consistent now.

I expect share price to begin to reflect our actual hashrate/dividend creation much more than it used to. Speculators will always attempt to push prices up (or down) in order to take advantage of those investors that are easily scared out of positions. As we add hashrate & dividend creation, you'll be able to determine a fair price to buy or sell your shares on any given day.

gyverlb

hero member

Activity: 896

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Quote from: SebastianJu on October 12, 2013, 11:17:00 AM

[...]
Though its a bit annoying to see that the founder already makes big bucks while the shareholders that helped him to this point probably wont see roi.
I sold all of my shares now and lost 83%... i have to blame myself for not calculating properly before investing...

If you sold all of your shares, you sold at a price above the IPO (which was 0.04BTC).

The shareholders who helped the founders with their investment in ASIC where the ones buying at IPO time at 0.04BTC. Those will most certainly make a profit from the dividends. They could even still make a profit by simply selling their shares now (as they are valued above 0.05 currently).
The shareholders who bought above 0.20BTC this summer when difficulty was rising in 20% increases were speculators (simple income projections shown that a 0.20BTC total dividends per share was a best case scenario) buying not from the founders but from all shareholders (including the founders). So they may have given big bucks to the founders (among others) but this had nothing to do with the initial investments but everything with speculation.

AM4Bitcoin

full member

Activity: 189

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Quote from: SebastianJu on October 12, 2013, 11:17:00 AM

It seems to be that the 100TH-Mine was a project to collect enough bitcoins to create an ASIC so that the owner of the design later can have a private business to make a fortune. So the investors get a bit hashpower to earn a bit bitcoins back and the project will slowly die when it reached 200TH. The founder then has an ASIC-Design for free and can sell miners and can mine himself and all income goes to his own pocket. The shareholders now are not pleased that he is selling for his own pocket only already while the farm not even has 200TH.
A good business concept for the founder of course. He got a strong income sponsored. He didnt lie about his intentions so i think nothing can be said against. Though its a bit annoying to see that the founder already makes big bucks while the shareholders that helped him to this point probably wont see roi.
I sold all of my shares now and lost 83%... i have to blame myself for not calculating properly before investing...

I think this is a good summary of the situation. I would have never invested if i had know that the owner sell mining hardware before the mining farm has reached even its FIRST(100TH) goal, when the mine reaches 200TH i dont think it will be relevant anymore. They didnt meet any timeline they gave us.

SebastianJu

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Quote from: Transisto on October 12, 2013, 01:31:33 AM

Quote from: buzzdave on October 10, 2013, 12:28:23 AM

We have been experimenting with some different setups, one of which mines against a local wallet, rather than paying out directly to pico. For example, I just triggered a payout of 100 BTC.

We are still mining at about 80 - 83TH, waiting for new gear to arrive. With the China holiday we've encountered some unfortunate slowness in getting more production boards.

There are lots of boards coming for both retail and for the mine. We do have to ship now that its October, so we will be doing both as fast as possible - but I assure you Tytus has a made a completely separate run that goes to the mine - its not even the same design, so it won't be used for retail.

Anything you read about us mining for ourselves or whatever is just FUDsters working the price lower. We should be way past 100TH by end of this month, based on what I know is coming...

Dave

For the 4th time, at the risk of it becoming annoying ; What is ETA to 200ths ?

Could someone enlighten me on why there is always references to hardware shipping out and how does it impact the "100ths mine" ?

It seems to be that the 100TH-Mine was a project to collect enough bitcoins to create an ASIC so that the owner of the design later can have a private business to make a fortune. So the investors get a bit hashpower to earn a bit bitcoins back and the project will slowly die when it reached 200TH. The founder then has an ASIC-Design for free and can sell miners and can mine himself and all income goes to his own pocket. The shareholders now are not pleased that he is selling for his own pocket only already while the farm not even has 200TH.
A good business concept for the founder of course. He got a strong income sponsored. He didnt lie about his intentions so i think nothing can be said against. Though its a bit annoying to see that the founder already makes big bucks while the shareholders that helped him to this point probably wont see roi.
I sold all of my shares now and lost 83%... i have to blame myself for not calculating properly before investing...

Transisto

donator

Activity: 1731

Merit: 1008

Quote from: buzzdave on October 10, 2013, 12:28:23 AM

We have been experimenting with some different setups, one of which mines against a local wallet, rather than paying out directly to pico. For example, I just triggered a payout of 100 BTC.

We are still mining at about 80 - 83TH, waiting for new gear to arrive. With the China holiday we've encountered some unfortunate slowness in getting more production boards.

There are lots of boards coming for both retail and for the mine. We do have to ship now that its October, so we will be doing both as fast as possible - but I assure you Tytus has a made a completely separate run that goes to the mine - its not even the same design, so it won't be used for retail.

Anything you read about us mining for ourselves or whatever is just FUDsters working the price lower. We should be way past 100TH by end of this month, based on what I know is coming...

Dave

For the 4th time, at the risk of it becoming annoying ; What is ETA to 200ths ?

Could someone enlighten me on why there is always references to hardware shipping out and how does it impact the "100ths mine" ?

af_newbie

legendary

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Quote from: SebastianJu on October 11, 2013, 01:48:34 PM

Quote from: ?? on ??

bug fixed. trades are executed now. Sorry guys.

Share price will only improve if we add more hashing power. We work on this full time.

Even 200TH would only be a temporary rise in shareprice. If you tell me you plan to reinvest and go even further than that to keep a target percent of network hashrate ill happily buy in again.

+1

200TH will not mean much if network goes to 2000TH in a month and 3000TH thereafter. If the "100TH" mine becomes x% of the network mine, it might be worthwhile. Otherwise the share price will keep going down.

I suspect there will be "trade breakers" around 0.04 as the big shareholders got in around there. So expect "trading bugs" to be more frequent around that price.

-Redacted-

hero member

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Ditto here. I'd buy in for at least a few hundred more shares. I was chasing 500 more shares but pulled my money when my bids were going higher than the current asks and nothing got filled.

SebastianJu

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Quote from: ?? on ??

bug fixed. trades are executed now. Sorry guys.

Share price will only improve if we add more hashing power. We work on this full time.

Even 200TH would only be a temporary rise in shareprice. If you tell me you plan to reinvest and go even further than that to keep a target percent of network hashrate ill happily buy in again.

ishkur

full member

Activity: 219

Merit: 100

Quote from: ?? on ??

bug fixed. trades are executed now. Sorry guys.

Share price will only improve if we add more hashing power. We work on this full time.

In order for share price to increase, you really need to "step it up" . People are already anticipating 100th by end of the month, so you need to go above and beyond and surprise us with something extra

Andrey

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Quote from: -Redacted- on October 11, 2013, 07:20:03 AM

I am suddenly feeling pretty good about having withdrawn all my funds yesterday...

My guess - it's down because of the trading problem, and someone is working on it...

Can login now. And it seems that trades are going now. If only 200TH had their planned terrahashes now. Its price is even better then the one in my signature, not speaking about other shares on other exchanges.

But the uncertainity and the bugs keep the share prices this low.

-Redacted-

hero member

Activity: 574

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I am suddenly feeling pretty good about having withdrawn all my funds yesterday...

My guess - it's down because of the trading problem, and someone is working on it...

chstls

full member

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https://picostocks.com can't log in now.

bulltrap

member

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Quote from: buzzdave on September 24, 2013, 10:30:17 PM

We are optimizing rigs now, which is slow, but gives the potential for at least 10 - 15TH across the mine. Meanwhile 35TH in hardware is on the way - this should put us solidly above 100TH. Getting to 200TH will draw on the gear in production. We had a 1 week-ish delay due to Chinese New Year, but I expect by the time we are done getting the 35TH up & running, we'll start to see more gear showing up.

Just noticed this, what happened to the extra 35TH that was supposed to be deployed?

Topic: [PicoStocks] 100TH/s bitcoin mine [100th] - page 28. (Read 470140 times)