Quote from: KCBitcoin on August 01, 2013, 10:55:01 PM

Quote from: creativex on August 01, 2013, 10:37:23 PM

Quote from: KCBitcoin on August 01, 2013, 09:28:12 PM

Thanks for the awesome tinkering and the notification.

But, if your update is to try to recover the glorious share price once BM had, i will have to doubt the effect.

If you take our share price as 0.5 and Cognitive's share price as 0.48.
According to the weekly dividend paid, I have found both securities are paying around 0.000702 dividend per bitcoin invested at the current share price.
What I am trying to say is that, our stock price is not significantly undervalued, comparing to similar companies in the same industry.
The free market has done its job.

What really needs to be done to pull up the share price is to make good use of the 1100+BTC, rather than advertising our huge reserve for months without purchasing anything.
Nowadays the price of ASIC machines have been dropping significantly, a 80GH Avalon can be bought at as low as 90btc. (which was around 130btc two weeks ago)
Therefore our reserve can buy us as much as 1TH/s hashrate. (which doubles what we have right now!)

If you really want the company's value to grow, I think this is the way to go.

Hi KCBitcoin. I'm afraid you lost me with:

Quote

make good use of the 1100+BTC, rather than advertising our huge reserve for months without purchasing anything.

While I believe I understand better than most how quickly things move in the cryptocurrency world, we were mining less than .06BTC/day as recently as June 19(43 days ago). Since that time our hashrate has grown by 937,400Mh/s or 360.53% if you prefer. There have most certainly not been "months without purchasing anything" since our first Avalon arrived and prior to that our only option would have been a BFL pre-order(uh no). Our competitors have not kept pace and this is why we're able to distribute 70% of mining revenue as daily dividends while maintaining a double digit yield and still keep our growth fund growing rapidly. We're also mining our growth fund whereas our competitors are having to borrow to attempt to keep up with the torrid pace of network expansion(cites available upon request).

The purpose of my update today was to officially announce the increase of our hashrate and to update investors who may be unaware of just how well positioned bASIC-MINING is to compete in this rapidly expanding network space.

Also while it's easy to say "buy a bunch of Avalons now!" just as it was easy to say "buy a bunch of overpriced blades!" previously, I actually have to obtain, deploy, power, & cool this gear. I'm also the fella everyone will point to if/when we never make our BTCs back from these hardware investments. I think we all know there are lots of new vendors entering this space in the very near future, KNC, AMC/VMC/Active Mining/(whatever other names they have), Bitfury, etc... all have products announced with Q3/Q4 availability and all with apparently better than currently available efficiency. While Avalon efficiency is fine for now, they'll be the first ASICs shut down as difficulty increases. Rather than investing in technology that may or may not make a positive return, I'd rather invest in efficient technology that's available now(BFL & possibly Bitfury) and be ready with lots of dry powder when there are more options and shorter lead times.

Cheers.

Yea, what I was trying to say is, rather than just stating how much reserve we have, its better to give out future plans with these reserves.
Like you said, pre-order better-efficiency hardware or more cost-effective machines.
Putting these up will give investors a better projected value of the company than cash.

You can even throw out a couple of pre-order info and let the investors help u decide or vote.

I'm not usually prone to quoting/citing myself, but...

https://bitcointalk.org/index.php?topic=130982.msg2846982#msg2846982

I'm still formulating a plan for these reserves. There are a multitude of options coming and the field changes daily. At this particular moment I'd like to say we're going to order 10+ 400Gh/s Bitfury kits, but I don't know because they're not available yet & haven't been reviewed yet. I have the same information everyone else has.

Cheers.