Quote from: shakaru on October 16, 2011, 05:53:58 AM

What would it take to save this sinking ship? Facility? Hardware? Experience?

Time, and low electricity costs.

Quote from: boonies4u on October 16, 2011, 06:47:15 AM

Do we have the 600 dollars to get the computer the new graphics cards?

Until the next electric bill comes, I can't be certain, as many factors make precise estimation of the bill almost impossible, as well as the fact that we were operating at somewhat of a loss for a short period, but I think it may be close.

Quote from: boonies4u on October 16, 2011, 06:47:15 AM

I know the number of BTC returned will vary depending on the current market. I should receive my X shares of the 50% of the funds liquidated from the sold hardware if we choose to liquidate. The money that comes back to investors depends on how much value they invested, when you transferred the BTC to the currency used to buy hardware (probably USD), and the current value of the hardware.

I just don't think comparing BTC invested vs. BTC returned is that practical, given the changes in price over this year.

Very true. I cannot say what the return will be in that case, as many people bought in at many different prices, and their investments were not always sold at prices close to that of the time when they invested the BTC.

Quote from: boonies4u on October 16, 2011, 06:47:15 AM

How much BTC have we saved up for part replacement? How much BTC do we have, period?

Once again, I can not give an exact figure at this time, as the next electric bill has not yet been received. It will be soon, however, and then I can give an account of that. I would like to say that we have no funds held in BTC at the moment, what extra we have is held in USD.

Quote from: boonies4u on October 16, 2011, 06:47:15 AM

Would mining at 15-20 cents higher than 8.4-8.6 USD per BTC (I believe that was the price when you posted) be marginally profitable or "more than marginally profitable"?

The price was actually around 3,90 USD when I made that post, and it has continued to fall. This of course will push down difficulty as more people drop out, but at the time it would have been marginally profitable, probably only being in the black by a few bitcents. I am anxious to see where the difficulty and price goes from here.

Quote from: boonies4u on October 16, 2011, 06:47:15 AM

Before I believe that a vote/motion on whether or not to liquidate should be done, I think you should show us your calculations used to determine what mining profitably entails. I would also like to know how much funds we currently have, as well what would be needed to bring us back to the 13 Ghps. (Is it really just 600$?) I would like to see your calculations used to determine how many of your shares that you have "paid" for. I think you should be given compensation for the time you put into working on the rigs, I just want to make sure that you are correctly compensated.

Basically I look at what our operating costs have typically been, then I check that against the current price of BTC and the current difficulty as well as what little forecasting can be done with the BTC economy and then make the call. As a rule, if each share that gets paid receives less than .005 BTC, I start considering it marginally profitable, and if it continues I see no reason to continue. Once again, some time during this week I will be able give an accurate account of how much money we have in reserve. That $600 is a high estimate, as the market for GPUs (which is basically what it would be paying for) has come down quite a bit. That number is a worst case scenario at worst, my pessimistic side at best. I understand your request for an account of my compensation, and I will do my best to provide it as soon as possible.

Quote from: shakaru on October 16, 2011, 07:46:42 AM

I will give this as an open invitation to Tawsix and the members of SIN, give me a call on the SDM business line during 9am-9pm 7days a week @ 1-310-982-6597. I will be available handling papers all day tomorrow and some small things around the office.
Otherwise I can be reached here or via email @ Shakaru@ShadesMinoco.com or via Skype at Andrew_Nollan.
Let get this mess cleaned up.

I will send you an email this week and we can discuss plans in the event of liquidation of SIN. Thank you for your interest.