[PicoStocks] 100TH/s bitcoin mine [100th] - page 41.

buzzdave

vip

Activity: 472

Merit: 250

Quote from: kaerf on September 13, 2013, 02:15:13 PM

Quote from: buzzdave on September 13, 2013, 01:01:43 AM

Quote from: kaerf on September 12, 2013, 02:31:24 PM

here's an approximate hash rate for the mine based on the dividend address

http://i.imgur.com/vB6jx3f.png

^ Cool ^

Our in-house numbers say 40TH, and a number of racks remain un-optimized. Today we worked on automagic restarts to keep everything running as much as possible. Optimizing passes should be finished tomorrow. We have hardware running that amounts to theoretical 65TH if every rig is running 400G, so we should see some good improvements. Next week more new hardware will be landed.

yup, the latest estimates show 40+TH/s

Just hit 50TH!

greaterninja

hero member

Activity: 924

Merit: 1000

If the 100TH asset is yielding .00004296 BTC per share ~12 times a day right now then that means. Its yielding about ~0.000483 BTC per share, per day at 40TH/s.

Thats $.0675 cents a day per share. at 40 TH/s when BTC trades for $140/BTC.

If each share costs .31BTC, then to buy 100 shares it would cost 31BTC = $4340 USD at 140/BTC exchange rate.

100 shares would earn ~.048257BTC / day divdends or ~$6.755 / day @ 40TH/s rate

So, If we are at 40TH/s now and .048257BTC/day is made, then 200TH/s would make ~.241283 BTC / day

It would take at least 128 days to make ROI in BTC for 100 shares bought at .31BTC / share. Thats not even being conservative. I would estimate ROI in BTC would take at least 6 months with difficulty jumping 20-35% every 10-12 days.

With it all said, at least this investment would most likely make ROI within a year.

kaerf

hero member

Activity: 631

Merit: 500

Quote from: buzzdave on September 13, 2013, 01:01:43 AM

Quote from: kaerf on September 12, 2013, 02:31:24 PM

here's an approximate hash rate for the mine based on the dividend address

http://i.imgur.com/vB6jx3f.png

^ Cool ^

Our in-house numbers say 40TH, and a number of racks remain un-optimized. Today we worked on automagic restarts to keep everything running as much as possible. Optimizing passes should be finished tomorrow. We have hardware running that amounts to theoretical 65TH if every rig is running 400G, so we should see some good improvements. Next week more new hardware will be landed.

yup, the latest estimates show 40+TH/s

gyverlb

hero member

Activity: 896

Merit: 1000

Quote from: goxed on September 13, 2013, 01:41:37 PM

Quote from: TheSwede75 on September 13, 2013, 11:52:50 AM

Quote from: Franktank on September 13, 2013, 08:46:02 AM

Quote from: goxed on September 12, 2013, 12:53:03 AM

So does one share of 100TH account for potentially 400MH/s? Will this mine grow beyond 200TH? I bought some shares late in the game and just wanted to gauge if it would be worthwhile to hold it for the long term.

This mine will NOT grow beyond 200TH, these are essentially PMBs. If you bought at IPO, you'll get your ROI but if you're buying now, you're only giving your money away. IPO investors basically paid for R&D of Bitfury's "shovel"; in turn, they get a discounted "shovel" at a later date.

Unless you are one of the founders, you have absolutely no idea what the end-goal of the project is. It's up to the founders to motion for altering the parameters just as they switched the hashing power from 100-200TH at one point they can choose to alter the project goals with share holder approval at any time.

Can one of the founders please comment on the above? It would make a difference between holding my shares or selling it now.

There's no plan to add more power and it would be in direct contradiction with the business plan any shareholders should have read (see picostocks site).
As the shares are not voting shares there's no way the business plan could change without violating the contract between the mine and it's shareholders. If the founders kept some revenue to reinvest shareholders would be entitled to ask for this revenue back: it just can't happen.

goxed

legendary

Activity: 1946

Merit: 1006

Bitcoin / Crypto mining Hardware.

Quote from: TheSwede75 on September 13, 2013, 11:52:50 AM

Quote from: Franktank on September 13, 2013, 08:46:02 AM

Quote from: goxed on September 12, 2013, 12:53:03 AM

So does one share of 100TH account for potentially 400MH/s? Will this mine grow beyond 200TH? I bought some shares late in the game and just wanted to gauge if it would be worthwhile to hold it for the long term.

This mine will NOT grow beyond 200TH, these are essentially PMBs. If you bought at IPO, you'll get your ROI but if you're buying now, you're only giving your money away. IPO investors basically paid for R&D of Bitfury's "shovel"; in turn, they get a discounted "shovel" at a later date.

Unless you are one of the founders, you have absolutely no idea what the end-goal of the project is. It's up to the founders to motion for altering the parameters just as they switched the hashing power from 100-200TH at one point they can choose to alter the project goals with share holder approval at any time.

Can one of the founders please comment on the above? It would make a difference between holding my shares or selling it now.

TheSwede75

full member

Activity: 224

Merit: 100

Quote from: Franktank on September 13, 2013, 08:46:02 AM

Quote from: goxed on September 12, 2013, 12:53:03 AM

So does one share of 100TH account for potentially 400MH/s? Will this mine grow beyond 200TH? I bought some shares late in the game and just wanted to gauge if it would be worthwhile to hold it for the long term.

This mine will NOT grow beyond 200TH, these are essentially PMBs. If you bought at IPO, you'll get your ROI but if you're buying now, you're only giving your money away. IPO investors basically paid for R&D of Bitfury's "shovel"; in turn, they get a discounted "shovel" at a later date.

Unless you are one of the founders, you have absolutely no idea what the end-goal of the project is. It's up to the founders to motion for altering the parameters just as they switched the hashing power from 100-200TH at one point they can choose to alter the project goals with share holder approval at any time.

Franktank

hero member

Activity: 560

Merit: 500

Quote from: goxed on September 12, 2013, 12:53:03 AM

So does one share of 100TH account for potentially 400MH/s? Will this mine grow beyond 200TH? I bought some shares late in the game and just wanted to gauge if it would be worthwhile to hold it for the long term.

This mine will NOT grow beyond 200TH, these are essentially PMBs. If you bought at IPO, you'll get your ROI but if you're buying now, you're only giving your money away. IPO investors basically paid for R&D of Bitfury's "shovel"; in turn, they get a discounted "shovel" at a later date.

JaredR26

full member

Activity: 219

Merit: 100

Quote from: yuchuanzhen on September 13, 2013, 02:00:27 AM

Quote from: JaredR26 on September 13, 2013, 01:53:56 AM

Quote from: yuchuanzhen on September 13, 2013, 01:41:50 AM

What about the solo plan?

Quote from: buzzdave on September 09, 2013, 05:44:27 AM

We'll go solo this week - the pool mining is just a temporary measure while the mine is too small to deliver reliable dividends to the shareholders.

See this post:

https://bitcointalksearch.org/topic/m.3131545

The solo plan is a very high priority still, but it is hard for me to justify the time and cost to go solo for a 2-3% gain rather than optimizing rigs for a +45% gain or more.

What about this ?

Quote from: SebastianJu on September 11, 2013, 03:12:40 PM

They should set up a p2pool server. Then they would get the same they would get with solomining, with less variance and with faster blocks so they can see errors occuring fast.

I'm not opposed to it, but I don't have experience setting it up. I do know that other Asics like Asicminer blades originally had trouble working with P2Pool, and I haven't read of people who have made it work for Bitfury's software base(has anyone done so??). Especially at our scale- We have hundreds of devices online now and multiple stratum proxies to manage the distribution and connection flow. I worry about the stale rates- Our connection is good but with that volume of devices and extra stratum layer(s), would that cause a stale rate worse than the BTCGuild?

Moreover, it would still be a temporary stopgap- we'd still want to solo mine very soon, so all the changes would have to be redone for solo.

If someone can convince me that the stale rate fear is overblown and the switch process is seamless enough, I might be able to get to it sometime Sunday->Tuesday, but it won't change the prioritization of solo mining(which would eliminate any stale rates and return to the raw statistics/luck we should be running with).

yuchuanzhen

full member

Activity: 234

Merit: 100

Quote from: JaredR26 on September 13, 2013, 01:53:56 AM

Quote from: yuchuanzhen on September 13, 2013, 01:41:50 AM

What about the solo plan?

Quote from: buzzdave on September 09, 2013, 05:44:27 AM

We'll go solo this week - the pool mining is just a temporary measure while the mine is too small to deliver reliable dividends to the shareholders.

See this post:

https://bitcointalksearch.org/topic/m.3131545

The solo plan is a very high priority still, but it is hard for me to justify the time and cost to go solo for a 2-3% gain rather than optimizing rigs for a +45% gain or more.

What about this ?

Quote from: SebastianJu on September 11, 2013, 03:12:40 PM

They should set up a p2pool server. Then they would get the same they would get with solomining, with less variance and with faster blocks so they can see errors occuring fast.

JaredR26

full member

Activity: 219

Merit: 100

Quote from: yuchuanzhen on September 13, 2013, 01:41:50 AM

Quote from: buzzdave on September 13, 2013, 01:01:43 AM

What about the solo plan?

Quote from: buzzdave on September 09, 2013, 05:44:27 AM

We'll go solo this week - the pool mining is just a temporary measure while the mine is too small to deliver reliable dividends to the shareholders.

See this post:

https://bitcointalksearch.org/topic/m.3131545

The solo plan is a very high priority still, but it is hard for me to justify the time and cost to go solo for a 2-3% gain rather than optimizing rigs for a +45% gain or more.

yuchuanzhen

full member

Activity: 234

Merit: 100

Quote from: buzzdave on September 13, 2013, 01:01:43 AM

Quote from: kaerf on September 12, 2013, 02:31:24 PM

here's an approximate hash rate for the mine based on the dividend address

^ Cool ^

Our in-house numbers say 40TH, and a number of racks remain un-optimized. Today we worked on automagic restarts to keep everything running as much as possible. Optimizing passes should be finished tomorrow. We have hardware running that amounts to theoretical 65TH if every rig is running 400G, so we should see some good improvements. Next week more new hardware will be landed.

What about the solo plan?

Quote from: buzzdave on September 09, 2013, 05:44:27 AM

We'll go solo this week - the pool mining is just a temporary measure while the mine is too small to deliver reliable dividends to the shareholders.

buzzdave

vip

Activity: 472

Merit: 250

Quote from: kaerf on September 12, 2013, 02:31:24 PM

here's an approximate hash rate for the mine based on the dividend address

^ Cool ^

Our in-house numbers say 40TH, and a number of racks remain un-optimized. Today we worked on automagic restarts to keep everything running as much as possible. Optimizing passes should be finished tomorrow. We have hardware running that amounts to theoretical 65TH if every rig is running 400G, so we should see some good improvements. Next week more new hardware will be landed.

kaerf

hero member

Activity: 631

Merit: 500

here's an approximate hash rate for the mine based on the dividend address

tarmi

legendary

Activity: 1232

Merit: 1011

Quote from: bluemike on September 12, 2013, 01:28:34 PM

How are the dividends handled??

Are they held in custodial account or they distributed directly to shareholders? If they are distributed, how are they distributed (i.e. back to the user acct at picostocks or sent to the wallet that is linked up)?

Thanks.

distributed directly to the user's account at picostocks.

from there you can forward your earnings to your wallet address.

bluemike

newbie

Activity: 12

Merit: 0

How are the dividends handled??

Are they held in custodial account or they distributed directly to shareholders? If they are distributed, how are they distributed (i.e. back to the user acct at picostocks or sent to the wallet that is linked up)?

Thanks.

Kushedout

legendary

Activity: 1123

Merit: 1000

SaluS - (SLS)

Quote from: snowdropfore on September 12, 2013, 03:55:07 AM

Quote from: Dexter770221 on September 12, 2013, 03:19:56 AM

Hashrate climbing up, divis almost doubles. Keep up good work. Whatever are you doing don't stop ;-)

But the share's price is going down and down.

You should of added another "down", would make it sound more dramatic. Roll Eyes

Dave, I would like to congratulate you and your team for outstanding job you have done and continue to do so, in the realm of vaporware and empty promises, it great to see actual results.

Also, love seeing the daily gradual increase in dividends.

Thanks again and keep up the good work.

snowdropfore

hero member

Activity: 843

Merit: 1001

Quote from: Dexter770221 on September 12, 2013, 03:19:56 AM

Hashrate climbing up, divis almost doubles. Keep up good work. Whatever are you doing don't stop ;-)

But the share's price is going down and down.

Dexter770221

legendary

Activity: 1029

Merit: 1000

Hashrate climbing up, divis almost doubles. Keep up good work. Whatever are you doing don't stop ;-)

gaba

sr. member

Activity: 249

Merit: 250

Quote from: snowdropfore on September 11, 2013, 09:19:10 PM

Somebody can tell me why the 100th dividend adress still have 278B balance?? what is use for??

Quote from: buzzdave on September 09, 2013, 05:50:20 AM

August shipping is almost complete. Due to a shortage of M-boards, we won't be shipping starter kits this week. As a stop gap for those customers, I'm pointing the equivalent hashrate to a dedicated pool account, which we will pay out to them when we ship.

goxed

legendary

Activity: 1946

Merit: 1006

Bitcoin / Crypto mining Hardware.

So does one share of 100TH account for potentially 400MH/s? Will this mine grow beyond 200TH? I bought some shares late in the game and just wanted to gauge if it would be worthwhile to hold it for the long term.

Topic: [PicoStocks] 100TH/s bitcoin mine [100th] - page 41. (Read 470109 times)