What baffles me is that 98% of shareholders voted in favor of the change. They basically said "give me 100% now, I don't really care about the future".
I voted for it too thinking it would unlock a little value (and it did, and I took the opportunity to liquidate). But look at what the reality was: none of the funds being set aside were being set aside to purchase new hardware. The hardware was already purchased, and the BTC being set aside for "reinvestment" was actually just paying back the loan that purchased the hardware.
Again, no funds were being used to bring additional hardware online. Once the loan was paid off, I suppose funds could have start being compiled to increase hashrate of the fund, but based on the rate the loan was being paid off and how long it would take to then save enough to buy additional hardware, that was many months off, assuming enough would ever be saved to buy new hardware.
So the vote makes perfect sense to me. It's people voting to drop the facade of buying additional miners and peg shares to 1gh/s each in hopes of reaching price parity with cex.io shares of the same speed.
What baffles me is that 98% of shareholders voted in favor of the change. They basically said "give me 100% now, I don't really care about the future".
I think it would be good for everyone if Cryptx chimed in with the plan for the future.
Investors deserve this sort of basic information. What is the vision at this point.
At this point, I don't think more information is warranted. You have all the information you need. Shares are worth 1gh/s each. It's not going to change. That's kind of the end of the story here for this fund, it's just a slow march towards obsolescence for these miners now.
you're welcome to your opinion, but that is not any information on future plans. if you are satisfied with the info as it sits, that's fine. I'm not.
you're out so I don't imagine you care. for those still in this information is useful, as it would be for those looking to invest.