Because they failed to recognize the failure of the connection to acts of some persons.
These people came to the conclusion that the more they earn by building its own mine.
But why it is we have to bear the costs of the deliberate delay?
P.S. want to participate to a lawsuit?
Topic: [PicoStocks] 100TH/s bitcoin mine [100th] - page 3. (Read 470109 times)
Any public offering is an obligation to shareholders. That is according to US law. So the training before you write something here.
Yes, an IPO entails fiduciary obligation. But there was never any "magical Gen2 upgrade" implied, much less advertised, nor guaranteed profits.
You are too eager to involve lawyers, thus casting aside reasonable discussion and demonstrating the paucity of arguments possibly confirming your position.
Cointerra has nothing to do with 100TH, which was always a 100% BitFury based project. Please get a clue before you start foaming. Don't be a Roadstress!
Calm down and learn the facts. Then you will understand why the rest of us are not blaming 100TH and MBP for the unfortunate outcome of this project.
Simple questions:
-Why, then, was the issue of Cointerra?
-Why sold equipment designed originally for the 100th causing even greater delay?
-Why private mine was built at the same time claiming that it is unprofitable business?
Such questions are quite a few more. Do you really want to get to the granting of the answers took the court?
-Why, then, was the issue of Cointerra?
-Why sold equipment designed originally for the 100th causing even greater delay?
-Why private mine was built at the same time claiming that it is unprofitable business?
Such questions are quite a few more. Do you really want to get to the granting of the answers took the court?
The fact is that the shareholders 100th scammed. First, delay, and then build on the basis of the obtained through measures the shareholders his own the mine. 500 Th from Leszek is not just any gift clumsy attempt to close the project and hence his own incompetence.
You can not miss things Cointerra. Through the subscription of shares it is Cointerra MBP came into possession of the latest 28nm technology, which currently uses for its own purposes.
As you can see the links between Picostocks and MBP exist. Given the circumstances, it can be called a criminal ties.
Cues have a legal opinion. Do you really want to explanation of what happened came to the court? In the context of what is happening lately chances of winning the case you have very little.
You can not miss things Cointerra. Through the subscription of shares it is Cointerra MBP came into possession of the latest 28nm technology, which currently uses for its own purposes.
As you can see the links between Picostocks and MBP exist. Given the circumstances, it can be called a criminal ties.
Cues have a legal opinion. Do you really want to explanation of what happened came to the court? In the context of what is happening lately chances of winning the case you have very little.
what the heck are you going on about? MBP is in no way cointerra. lets put some things straight:
1) The 100TH mine was effectively a cloudmining contract, where shares were for a fixed fraction of a mine consisting ofbitfury 55nm. It was a clearly-worded pre-order of unfinished bitfury gen1 hardware.
2) the 55nm bitfury chips are about 1w/gh, which is why they are now become expensive to run - it does not seem unreasonable to implement higher fees to cover operational costs, which 30% of bitcoins mined seems about correct
3) AFAIK there was no plan to magically upgrade to gen2 equipment. from the start it was gen1. because of a late rollout, it increased in size to 500TH (which was pretty reasonable IMO) to try and return value to the shares
not sure where cointerra fits in. the BF28nm chip would have nothing to do with the cointerra design, and a similar die size or efficiency is not even remotely proof that they are the same chip.
Any public offering is an obligation to shareholders. That is according to US law. So the training before you write something here.
I would suggest the expansion of the 100th or redemption of shares at a reasonable exchange rate, at least for the price of 100th issue and withdrawal from the market.
Don't forget to also demand a pony that shits caviar. Your incompetent and/or ignorant family lawyer has an equally good chance of getting one such pony for each of us 100TH investors.
I have a close family lawyer;)
The case is thoroughly discussed.
Most plunges Picostocks management and sale of shares of MBP 0.30 BTC at the time when they knew that they would delay the project (insiding trader) and sale of equipment designed initially for 100th in the market, which resulted in delays.
Cousin assesses the probability of winning the case at 80-90%, taking into account that this whole business is worth several million volunteers to lead this matter will not miss.
I do not know what is your relationship with MBP and Pico Icebreaker but this only proves that discouraging that I'm right. You do not have any arguments, and in addition is the last pair of high-profile trials of those associated with the BTC.
I would suggest the expansion of the 100th or redemption of shares at a reasonable exchange rate, at least for the price of 100th issue and withdrawal from the market.
The case is thoroughly discussed.
Most plunges Picostocks management and sale of shares of MBP 0.30 BTC at the time when they knew that they would delay the project (insiding trader) and sale of equipment designed initially for 100th in the market, which resulted in delays.
Cousin assesses the probability of winning the case at 80-90%, taking into account that this whole business is worth several million volunteers to lead this matter will not miss.
I do not know what is your relationship with MBP and Pico Icebreaker but this only proves that discouraging that I'm right. You do not have any arguments, and in addition is the last pair of high-profile trials of those associated with the BTC.
I would suggest the expansion of the 100th or redemption of shares at a reasonable exchange rate, at least for the price of 100th issue and withdrawal from the market.
As you can see my loss was not the result of my wrong decision and your conscious intentions in order to trick the minority shareholders.
After consulting with a lawyer I am sure that every court will award to me and the rest of the persons bringing a class action lawsuit right. Thought to ourselves that this is not possible in any other way to solve.
After consulting with a lawyer I am sure that every court will award to me and the rest of the persons bringing a class action lawsuit right. Thought to ourselves that this is not possible in any other way to solve.
Lawyer are always happy to take your money and tell you what you want to hear. They make a great living blowing smoke up the credulous asses of people like you.
No court is going to award you anything. Besides some old ASICs, there are no assets.
100TH and Picostocks did everything that could reasonably be expected of them. The delay was unfortunate but unavoidable, and they made up for it. Good customer service and IR too.
Nobody guaranteed it would work out. That's impossible. Grow up and stop demanding you always get to win, no matter how risky your actions.
That's why in this case was the issue Cointerra on Picostocks?
As if you did not try to explain it any "version" does not explain the issue, as it perfectly explains the acquisition 28nm technology. For the 100th shareholders' money.
This is confirmed by Leszek entry in this topic in which he writes that looks ready 28nm technology in order to acquire it.
Is my investment decision was bad? I bought shares when it was not yet announced the delay and mine was to be launched in July 2013.
Global hashrate then was 223.746 GH / s, which is an additional 100,000 GH / s constitute 44% of the Global Hashrate. Mining with Global Hashrate 518.000 was finally launched on 15 December 2013. At that time the Global Hashrate was already 6,502,229 GH / s, of which 44% after deduction would be 2,633,060 Hashrate 100th GH / s. And that should be the finally power of the 100th, does not have any 518.000 GH / s.
As you can see my loss was not the result of my wrong decision and your conscious intentions in order to trick the minority shareholders.
After consulting with a lawyer I am sure that every court will award to me and the rest of the persons bringing a class action lawsuit right. Thought to ourselves that this is not possible in any other way to solve.
As if you did not try to explain it any "version" does not explain the issue, as it perfectly explains the acquisition 28nm technology. For the 100th shareholders' money.
This is confirmed by Leszek entry in this topic in which he writes that looks ready 28nm technology in order to acquire it.
Is my investment decision was bad? I bought shares when it was not yet announced the delay and mine was to be launched in July 2013.
Global hashrate then was 223.746 GH / s, which is an additional 100,000 GH / s constitute 44% of the Global Hashrate. Mining with Global Hashrate 518.000 was finally launched on 15 December 2013. At that time the Global Hashrate was already 6,502,229 GH / s, of which 44% after deduction would be 2,633,060 Hashrate 100th GH / s. And that should be the finally power of the 100th, does not have any 518.000 GH / s.
As you can see my loss was not the result of my wrong decision and your conscious intentions in order to trick the minority shareholders.
After consulting with a lawyer I am sure that every court will award to me and the rest of the persons bringing a class action lawsuit right. Thought to ourselves that this is not possible in any other way to solve.
I see no similarity of this chips apart of process. Cointerra specified its chip power efficiency as 0.5 W/GH/s, while MBP described its mining gear as having similar efficiency but at the wall.
The difference is obvious.
I observed the 100TH/500TH thing from the IPO. The 100TH development depended heavily (or more: all or nothing) on creation of Bitfury chips.
I followed all the information concerning first Bitfury chips (mainly on Russian language threads) in 2013. In short: they were a bit late and produced half the expected speed, but comparing to the rest of the industry it was sheer luck to achieve so much. (In 2014 Bitfury had no such luck with his next generations of chips, despite spending plenty of money.)
I followed the threads discussing the development of devices based on the chips. In short: there were problems with the stability (first devices needed much baby-sitting) and reliability, which were resolved only after several months. In effect there was shortage of devices and, indirectly, problems for 100TH.
Basing on all that, I can say that in my opinion, Giray, your accusations are empty. If you invested when the share price was high, don't blame others for your bad investment decision.
The difference is obvious.
I observed the 100TH/500TH thing from the IPO. The 100TH development depended heavily (or more: all or nothing) on creation of Bitfury chips.
I followed all the information concerning first Bitfury chips (mainly on Russian language threads) in 2013. In short: they were a bit late and produced half the expected speed, but comparing to the rest of the industry it was sheer luck to achieve so much. (In 2014 Bitfury had no such luck with his next generations of chips, despite spending plenty of money.)
I followed the threads discussing the development of devices based on the chips. In short: there were problems with the stability (first devices needed much baby-sitting) and reliability, which were resolved only after several months. In effect there was shortage of devices and, indirectly, problems for 100TH.
Basing on all that, I can say that in my opinion, Giray, your accusations are empty. If you invested when the share price was high, don't blame others for your bad investment decision.
The fact is that the shareholders 100th scammed. First, delay, and then build on the basis of the obtained through measures the shareholders his own the mine. 500 Th from Leszek is not just any gift clumsy attempt to close the project and hence his own incompetence.
You can not miss things Cointerra. Through the subscription of shares it is Cointerra MBP came into possession of the latest 28nm technology, which currently uses for its own purposes.
As you can see the links between Picostocks and MBP exist. Given the circumstances, it can be called a criminal ties.
Cues have a legal opinion. Do you really want to explanation of what happened came to the court? In the context of what is happening lately chances of winning the case you have very little.
You can not miss things Cointerra. Through the subscription of shares it is Cointerra MBP came into possession of the latest 28nm technology, which currently uses for its own purposes.
As you can see the links between Picostocks and MBP exist. Given the circumstances, it can be called a criminal ties.
Cues have a legal opinion. Do you really want to explanation of what happened came to the court? In the context of what is happening lately chances of winning the case you have very little.
Really? 
Do not you know what the MBP website is it?
https://megabigpower.com/aboutus (www last changed in July '14)
"In 2012 MegaBigPower began production of the BitFury 55nm ASIC mining chip. In 2014 we are producing cutting edge 28nm ASIC chips based on our own design. Our plan is to push the bitcoin mining network to an unprecedented rate of growth."
Today is 2015.
Parameters of MBP 28 chip: (https://megabigpower.com/faq (www last changed in July '14))
"Our next generation of mining gear is nearly completed. It will run at .5 watts / GH, or .5 MW / PH. We run 3x 30A 208v circuits in a 2' x 4' rack, which is about 15 KW. If any of that makes sense to you, please get in touch!"
Parameters of Cointerra 28nm chip:
https://cointerra.com/chip-technology-behind-bitcoin-phenomenon/
"The 28nm Asic is capable of processing 500Gigahash/s Bitcoin transactions and with power efficiency being the other important parameter, teh chip has a specfied power consumption of 0.5W/Gh/s."
Facts or conspiracy theory?
I wonder what he would say about all this lawyer.
I see. Let me explain the relationship between MBP and Picostocks. MBP builds and operates mines. Picostocks is a different company that offered a mining contract offering (shared mine ownership). Do not you know what the MBP website is it? https://megabigpower.com/aboutus (www last changed in July '14)
"In 2012 MegaBigPower began production of the BitFury 55nm ASIC mining chip. In 2014 we are producing cutting edge 28nm ASIC chips based on our own design. Our plan is to push the bitcoin mining network to an unprecedented rate of growth."
Today is 2015.
Parameters of MBP 28 chip: (https://megabigpower.com/faq (www last changed in July '14))
"Our next generation of mining gear is nearly completed. It will run at .5 watts / GH, or .5 MW / PH. We run 3x 30A 208v circuits in a 2' x 4' rack, which is about 15 KW. If any of that makes sense to you, please get in touch!"
Parameters of Cointerra 28nm chip:
https://cointerra.com/chip-technology-behind-bitcoin-phenomenon/
"The 28nm Asic is capable of processing 500Gigahash/s Bitcoin transactions and with power efficiency being the other important parameter, teh chip has a specfied power consumption of 0.5W/Gh/s."
Facts or conspiracy theory?
I wonder what he would say about all this lawyer.
I agreed to build and host the Picostocks mine, but MBP and Pico are different companies. We have our own goals and plans that may be discussed on forums or posted on our site, but those plans may have nothing to do with Picostocks or 500TH. I own MBP. I don't own Picostocks (or BioInfoBank).
Hope that clears up any confusion (or suspicion ).
Really? Do not you know what the MBP website is it?
https://megabigpower.com/aboutus (www last changed in July '14)
"In 2012 MegaBigPower began production of the BitFury 55nm ASIC mining chip. In 2014 we are producing cutting edge 28nm ASIC chips based on our own design. Our plan is to push the bitcoin mining network to an unprecedented rate of growth."
Today is 2015.
Parameters of MBP 28 chip: (https://megabigpower.com/faq (www last changed in July '14))
"Our next generation of mining gear is nearly completed. It will run at .5 watts / GH, or .5 MW / PH. We run 3x 30A 208v circuits in a 2' x 4' rack, which is about 15 KW. If any of that makes sense to you, please get in touch!"
Parameters of Cointerra 28nm chip:
https://cointerra.com/chip-technology-behind-bitcoin-phenomenon/
"The 28nm Asic is capable of processing 500Gigahash/s Bitcoin transactions and with power efficiency being the other important parameter, teh chip has a specfied power consumption of 0.5W/Gh/s."
Facts or conspiracy theory?
I wonder what he would say about all this lawyer.
Do not you know what the MBP website is it? https://megabigpower.com/aboutus (www last changed in July '14)
"In 2012 MegaBigPower began production of the BitFury 55nm ASIC mining chip. In 2014 we are producing cutting edge 28nm ASIC chips based on our own design. Our plan is to push the bitcoin mining network to an unprecedented rate of growth."
Today is 2015.
Parameters of MBP 28 chip: (https://megabigpower.com/faq (www last changed in July '14))
"Our next generation of mining gear is nearly completed. It will run at .5 watts / GH, or .5 MW / PH. We run 3x 30A 208v circuits in a 2' x 4' rack, which is about 15 KW. If any of that makes sense to you, please get in touch!"
Parameters of Cointerra 28nm chip:
https://cointerra.com/chip-technology-behind-bitcoin-phenomenon/
"The 28nm Asic is capable of processing 500Gigahash/s Bitcoin transactions and with power efficiency being the other important parameter, teh chip has a specfied power consumption of 0.5W/Gh/s."
Facts or conspiracy theory?
I wonder what he would say about all this lawyer.
Read carefully. MBP has acquired technology from Cointerra, not chips. For the 100th shareholders' money. And it seems that they cheated.
Parameters Cointerra and MBP chips are identical.
Read carefully: I own MBP. I built 500TH mine. We have no technology from Cointerra whatsoever. 500TH was built with the 55nm BitFury chip and still runs with the same rigs to this day. Parameters Cointerra and MBP chips are identical.
This is some kind of conspiracy theory of yours.
Read carefully. MBP has acquired technology from Cointerra, not chips. For the 100th shareholders' money. And it seems that they cheated.
Parameters Cointerra and MBP chips are identical.
Parameters Cointerra and MBP chips are identical.
Yet MBP has now 28nm chips on technology bought from Cointerra for money received from shareholders 100th.
You keep saying this, yet I don't know wtf you are talking about. I don't have a single device made by Cointerra.
Yet MBP has now 28nm chips on technology bought from Cointerra for money received from shareholders 100th.
28 nm chips has better energy effcenty then 55 nm
True in some cases not true in others. A moot point since we have only 55nm chips. With the better power supplies, we are running as efficiently as some of the 28s on the market.
28 nm chips has better energy effcenty then 55 nm
NOTICE TO SHAREHOLDERS
In light of the continued decline of the Bitcoin mining market, we are forced to make an adjustment in fees to accommodate hosting costs. Despite declining revenues throughout all of 2014, this is the first adjustment we are taking that affects revenues.
MegaBigPower has used it's early profits to supplement declining revenues to date. In addition we have replaced all power supplies with more efficient units. We have also replaced failing rigs in order to maintain our target hashpower. Unfortunately we've reached the point where we must extract additional revenue off the top.
Effective immediately, MBP will extract 30% of Bitcoin produced, prior to sending coins for distribution. If the market recovers, we will reduce this revenue share. If the market continues to worsen, we will need to increase this revenue share.
I'm glad that we can offer this remedy as opposed to taking closure actions like some of the other mining contract providers, and appreciate your understanding.
Best
Dave Carlson, CEO
MegaBigPower
In light of the continued decline of the Bitcoin mining market, we are forced to make an adjustment in fees to accommodate hosting costs. Despite declining revenues throughout all of 2014, this is the first adjustment we are taking that affects revenues.
MegaBigPower has used it's early profits to supplement declining revenues to date. In addition we have replaced all power supplies with more efficient units. We have also replaced failing rigs in order to maintain our target hashpower. Unfortunately we've reached the point where we must extract additional revenue off the top.
Effective immediately, MBP will extract 30% of Bitcoin produced, prior to sending coins for distribution. If the market recovers, we will reduce this revenue share. If the market continues to worsen, we will need to increase this revenue share.
I'm glad that we can offer this remedy as opposed to taking closure actions like some of the other mining contract providers, and appreciate your understanding.
Best
Dave Carlson, CEO
MegaBigPower
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