4. That is a question for Mark. We are currently in a transition period with our mining as we are moving our mining operation outside of the UK to increase our profit margin due to the increased VAT, electricity and site rental costs over here.
Hi, thanks I'll wait for that answer before I make any further decisions. Is he going to answer it here in the forum?
I'm very interested in this. I do have reservations though because both bitcoin and litecoin are hovering around YTD lows. Litecoin has dropped from $23 down to $3.50 since the beginning of 2014.
Someone said that the assumption in this was that bitcoin would be at $500 but it's down below $330. Is it still profitable for you at these levels?
On banxmint you've got a 1 bitcoin coin at $651.59 which doesn't inspire confidence that you're going to sell many. If you do sell a lot then you've got a great profit margin there!
Hi Merribourne
Just to jump in on the banxmint coin confidence issue, I recently attended the Bitcoin Conference 2014 Thailand in Bangkok
http://bitcoin2014.in.th/I happened to take along my 2 physical BANXmint 1BTC and 1LTC coins and was amazed at the interest and potential uptake that I received when I showed them off. I was quickly surrounded by a large group of people, probably 60% of them Thai nationals but there were also Chinese, Canadian, French, American and German nationals, all intrigued at what I had and wanting to hold the coins whilst bombarding me with many questions about them. The Thais were especially upbeat, every single one of them saying that they had seen them on the TV, but none of them had ever seen a physical BTC or LTC in real life, and were genuinely really excited to have one in their hands. So from experience I know for sure that there is a big market out there in Asia for physical coins, it just needs marketing correctly which I am hoping that Mark, Simon and Myself can do in the very near future.
Regards
Keeffy