Well, difficulty certainly is approaching 1.5 mil, but i doubt that the drop in price helped any.
Difficulty will always lag behind the price.
They have invested some $15,000 into hardware, that at one time was generating nearly 13 ghps. When you "turned them off" they were generating a pathetic 8 ghps. I suspect you really still have the full 13 ghps turned on and mining somewhere else all for yourself.
Tawsix, you really need to give a full report on the status of the rigs; Yes, we were nearly at 13.
I want to know how much Ghps the rigs in their current status could produce. I want to know how much funds and time it would take to bring them back up to 13, if they aren't capable yet. I want to know how much funds could be liquidated if we were to sell all hardware at their current status and when they are back to full hashing power. I would like you to have discussions with both shareholders (i may speak to Nefario to see if someone can provide proof that they own shares), and the public here on the forum.
I would like you to put the time that you no longer are putting towards maintaining the rigs to some use. Even though the rigs aren't running your job isn't over.
I hope that
everyone else agrees with me.
The rigs in their current state can produce around 8-9 Ghps. There are three computers down right now, two that won't stay on for reasons I was unable to determine and one that has need for graphics card replacement. The two that won't stay on need a few days of playing with to figure out. The one that needs new graphics cards needs either about $600 put into it or XFX and Gigabyte to stop giving me the runaround on the RMA.
If and when we decide that the company should be liquidated, depending on what the Bitcoin climate is, an investor could see a decent return based on what the price of BTC was when they invested (those who invested at higher prices will see more BTC, etc.) If we pull out when prices are low like they are now, the liquidated funds will buy a lot more BTC than if the price jumps back up, and investors will get a lot more of their investment back.
I see a lot of concern with the efficiency of the machines being run, and that we should still be able to operate profitably. I would like to make a very important point that many people who go into business mistakenly ignore: the cost of operation that I calculator for the machines is not limited to the energy costs, it also includes the cost of replacement for the parts as well. It is important to do this when your income depends on any machines, because yes, we could be operating "profitably", but what happens when the rigs start breaking from running 24/7 at max load for a year? All of a sudden we have a bunch of broken machines and no money to replace them with because we've been operating "profitably". So with the cost of electricity, I add the cost of replacement, and that does effect us to the point of not being able to operate in the current condition of the economy.
With difficulty falling, all it will take is for the price of BTC to jump up 15-20 cents, and we will be able to mine profitably again. However, I would say that unless we are making more than marginal őprofits, we should keep the rigs down. There is no point in mining for the sake of mining, and putting more and more wear and tear on the rigs lowers their value. I am not sure what the best method of moving forward is right now, and how we should go about deciding the future of the company. I am open to suggestions.