Topic: [PicoStocks] 100TH/s bitcoin mine [100th] - page 66. (Read 470088 times)

I've some new BTC to invest, could people spread a little more FUD on 100th so that the price goes down a bit more before I buy?

Thanks for your benevolent help.

So glad I sold my whole stake a few weeks ago.  These guys are on vacation or something.  In a market with explosive performance everywehre, 100th is totally stagnated and playing the waiting game. 

I'll check back in October.

Two weeks later. Should I check back in two weeks?

I think the better statement here would be "don't buy the skin until the bear is dead".

.b

Speculations, speculations, speculations....

Don't sell a skin on living bear...

I hate to say "I told you so," but...

I bought 100th somewhere between 0.10 and 0.12 because with the risks involved at the time, that was a good price. Now, all we know is that tytus needed to sell 'up to 5000 shares at market price' to pay for getting the mine up, and barely managed to sell 1200. That means either that the need wasn't actually there or that the need is still there and we'll see a massive dump at far lower prices shortly.

If 'at market price' meant 0.3 as seems to be the case, this means a need for BTC1500 or what was at the time $150.000 (roughly the same as today).

With BIDs at 0.2 and assuming the need is still the same, that means another ~6000 shares must be sold to cover the increased costs. There isn't anywhere near a BID side to support this, though, so now we're suddenly talking about a risk of default instead or that tytus needs to go outside the market to acquire funds through loans or other means of financing.

In either case, 100th is in dire straits, I'm sorry to say. They may gamble that their costs wont be collected until the mine operates and that they can pay for costs then or the founders may step in and upfront the costs themselves. Regardless, those costs must be paid by someone, and I fear that 'someone' will be the investors.

.b

PS: I'm still assuming that tytus is an honest person and that the increased cost won't simply 'go away' (which would indicate the need was never there and that the sale was done to line someone's pockets).

The lack of response isn't exactly reassuring. I am prob dumping my stock soon if nothing is communicated.

Where is your knowledge derived from?

Also, are you talking about one month delay from the original plan (which we are already looking at, as the plan was to deploy the mine by July 1st) or one month of additional delay on top of the delay we are already experiencing?

based on my knowledge : there will be about month of delay... ;(

Not answering serious questions on the forum while share price drops. I guess Tytus is from the 'Friedcat' school of promotion and marketing.

We can't do much. tytus can, however, and it wouldn't require much effort. I don't expect a report very often as they are usually elaborate and/or meant for big news. A small update, however, could be anything from insight on the latest phone call with the contractor, an email conversation etc.

There are a lot of shareholders who have spent considerable amounts of money on this project, and it would be nice with an update a bit more often than every two weeks.

I do realize that tytus and the rest of his team are probably very busy right now, but at the very least I think the shareholders deserve to know whether the PCB's are on track to being completed within the 25th, or if we can expect further delays.

From the last report: "The best time we are getting for the completion of the process is 2013-07-25."
Let's wait patiently until this date. What else can we do?

When will the new report?

I can share some info I got via PM on the 5th. They've sent chips out to be assembled with PCB and hope to have them done in 20 days (from the 5th). After they get the boards, it will be very quick (maybe a day) to rack the hardware.


I believe the hardware 100TH is deploying is the same being sold by megabigpower and bitfurystrikesback, so you can see how simple it is to assemble those boards. One thing that I'd have a question about is if there is enough power at the data center. The original power estimates in the business plan say the mine will require ~25kW, but based on the H-Board hardware it looks like it will be more like 62.5-100 kW (big range...website states 400W per 400GH, but I think buzzdave stated 250-300W). The other thing to worry about is network capacity and the private pool setup. I know ASICMINER was slow to deploy due to network load...hopefully that problem has been anticipated.

It's been 10 days since this report now. Could we get an update soon? How is the hunt for contractors going?

Actually you'll pay more than 20% VAT more which makes it ~20BTC for 25GH. An equivalent share price (for 200MH/s / share) would then be 0.16BTC.

You must consider the fact that the 100TH mine should be delivered before (they are the first bitfury clients) and should then have ~ one month head start (first to be delivered and no shipping delays to you).
Another advantage is that you won't have to operate any hardware and when you feel like selling it, you'll sell it on an exchange instead of using an escrow and shipping it wherever your buyer lives (hoping nothing happens to it or paying for insurance).
There should be more buyers for 200MH/s chunks than 25GH/s one: it should drive the price up too.

The actual value should still be in the 0.2 to 0.5 BTC range depending on many things. Too bad I don't have any Bitcoin to invest in this anymore: I maxed out my mining rigs and will actually have to sell hardware shortly because I can't use more power where I live and I expect an Avalon shortly.

I might invest in bitfury hardware, but I've been burned by bASIC cancellation and Avalon delays so I see ASICMINER and the 100TH mine has means of diversification. The only ones I never considered are BFL (talk about being burned...).

...and boom, big sales. Someone thinks the same way. New price  is 0.19

Market price? Right now (on the market) you can buy the same board from 100TH-mine project for 1000EUR. August delivery. 16,6 BTC for 25GH.
With share price (0.3 BTC) hashing power from 100TH-mine project is not that attractive any more.

OK, to keep this thread clean, let's continue the dead horse bashing in furuknap's own thread: https://bitcointalksearch.org/topic/btctbfmines-mining-contracts-now-available-bonus-divs-first-months-236310

furuknap = mii6 ??