Will there be a second order?

[galvin]

So if there is a round 2, what happens to our shares from round 1?

[fasbit]

Mar 4, 2014 0:59:15 GMT -6 galvin said:

So if there is a round 2, what happens to our shares from round 1?

1. You will either convert them to hardware, or
2. Convert part of them to hardware, and
3. Leave the rest in the pool to collect dividends.
/fasbit

[fasbit]

Gridseed told me that minimum size of order is going up to 1000.

[gnarl]

So about 250btc needed for next order?
With the speed this one sold out, and some good pr from the first shipment deliveries, it seems possible.

[fasbit]

Mar 9, 2014 16:20:34 GMT -6 gnarl said:

So about 250btc needed for next order?
With the speed this one sold out, and some good pr from the first shipment deliveries, it seems possible.

yea...that's only 250 people at 1 BTC each.

[fasbit]

ROUND 2???

We can get Original Gridseeds, now called "infinity" for $134 and the new G-Blades for $1951
We are set up as direct vendor.
If there is enough interest... we can do a Round 2 - group buy.

Option 1 - Buy them and sell them. Become a reseller. Distribute Profits. Compete with Zoom Hash etc.
Option 2 - Buy them and Mine with them.
Option 3 - Buy them and take possession like in Round 1
Option 4 - Any combination of the above.

Everything is now in place for a fast turn around.
I think we can turn everything around in 14 days.
We have all the vendors set up and in place.
I am also set up to take fiat.

If you are interested. Let me know.
If we do another round I will make speed the #1 priority.

Gridseed Blades - goo.gl/0y1wzg
100w - 5.2mhs

./fasbit

[galvin]

Round 1 sucked, and the dividend payouts wont even break us even. Why you even talking about a round 2 is beyond me.

[gmrpr7]

Ouch. Well to be fair, tech difficulties and the constant drop in the price of BTC are responsible for the low dividends. Although I must admit that the Fasbit exchange seems like terrible timing since there is still a ton of work to do for GRID 

[imbiat]

i've been following both the fas and grid projects on cryptostocks. fas is starting to get more constant dividends because they keep adding hardware. i'm hoping that grid will get there too after a bit of time running and getting some new hardware and increasing the pool size without dilution. hashrate has been pretty stable for a few days finally and i'm hoping to see it go up a bit on middlecoin as the last gridseeds get plugged in. i'm also hoping that you will look into some options besides just middlecoin for the hashpower. i'll be down to buy a few shares of the new project with some btc i have and the dividends that come in from my grid and fas for a few weeks but it won't come up to more than a quarter to a third of a btc or so.

[fasbit]

Apr 11, 2014 11:15:18 GMT -6 galvin said:

Round 1 sucked, and the dividend payouts wont even break us even. Why you even talking about a round 2 is beyond me.

I dont think your response is grounded mathematically.  Consider:
 1. Assuming you consider the current rate of return is or will be consistent
 2. Invest 1 BTC
 3. Dividends started on April 4th and their will be one today.  That is 3 satoshi per share in 9 days or avg of 1 satoshi per 3 days.
 4. 1,000,000 shares x .00000001 * 121 = 1.21 BTC / 1 BTC = 121% Annual Rate of Return for 1 year from April 4th.

Now this assumes the return is consistent, however the model is designed to INCREASE the rate of return , just like FAS has done and will continue to do.  
Sometimes it takes time to work out the bugs in a system... 
If you look at the middlecoin stats you can see that I had to torture my way through to get a consistent result... the point is...we got there... now the result will just get better...
./fasbit

[fasbit]

Apr 11, 2014 15:37:41 GMT -6 gmrpr7 said:

Ouch. Well to be fair, tech difficulties and the constant drop in the price of BTC are responsible for the low dividends. Although I must admit that the Fasbit exchange seems like terrible timing since there is still a ton of work to do for GRID 

FASBIT EXCHANGE will take at least 2 months to get off the ground....better sooner than later in my view....
And yes...there is a TON of work to do on GRID...

[fasbit]

Apr 11, 2014 21:13:25 GMT -6 imbiat said:

i've been following both the fas and grid projects on cryptostocks. fas is starting to get more constant dividends because they keep adding hardware. i'm hoping that grid will get there too after a bit of time running and getting some new hardware and increasing the pool size without dilution. hashrate has been pretty stable for a few days finally and i'm hoping to see it go up a bit on middlecoin as the last gridseeds get plugged in. i'm also hoping that you will look into some options besides just middlecoin for the hashpower. i'll be down to buy a few shares of the new project with some btc i have and the dividends that come in from my grid and fas for a few weeks but it won't come up to more than a quarter to a third of a btc or so.

And the hash WILL increase.  I have lots of stuff that I over-purchased for the project.  For example we have like 14 wii box controllers.  NO ONE wanted them.  SO now I have to get rid of them on Amazon or Ebay.  As I recapture this stale money, I will turn it into revenue generating hardware for the pool. I dont plan to use middlecoin for more than 1 more week.  I can do better with my own picks....

./fasbit

[galvin]

I'll be watching. My self I have 500K shares I bought with 1btc. So dividends will have to go up a lot to make break even happen sooner than a year. I hope it works out well. Right now its like making a penny a week and you invested a dollar.

[imbiat]

it took fas like almost two months to start having a dividend that still aren't quite every day but at least every other. we just need to patient. the grid pool's power will grow with the 1/7 reinvestment in hashing power. i don't remember where that hardware address is but with the low usd value of btc right now it is going to be slow adding hashing power for the time being. i just looked closer at the middlecoin stats (http://www.middlecoin.com/reports/17Jr4RMMstbuZNte6AyiR4aChCJxU9hatr.html) and can see that we're stable around 35 MH/s, up from the around 30 MH/s that we were maxxing out around the week before. so as we add some more hashpower we can expect higher dividends, it may take longer with our bigger grid pool than it has with the fas pool which is a little more than 20 million shares as opposed to the just under 50 million shares of grid.

let's do some quick math. there are about 50 million shares of grid (a little less) but we'll say 50 million to make this simple to do with rough math. to pay a 1 satoshi dividend we need 0.5 btc. though since dividends are 5 of 7 parts of the pie, we really need to make 0.7 btc, then .1 btc is put into hardware funding and .1 btc is to fasbit for running the pool/overhead costs. middlecoin is getting around .13 per day so far but with unexchanged and immature we can bump that number to .15 btc per day. we will see how that goes with middlecoin now that the whole thing is stable, maybe it will even average a bit more than .15, middlecoin has sometimes has great days from the giant buildup of unexchanged. .7 btc / .15 btc per day means we should get a dividend every 4.67 days. do you have more hashpower pointed somewhere else to be giving us dividends once every 3 days? i calculate that we roughly need to be making .2333 btc per day to pay every three days (.7/3). is that an amount that you think you can do with your own picks per day with our size hashpower? are we saving money for more hardware yet? are you taking a cut for costs yet? just to be clear since the internet lacks tone, these are all meant as honest questions, not attacks in any way.

bonus math problem: if grid is paying out a satoshi per share every 3 days and and costs .000002 per share and fas is paying out a satoshi per share every other day and costs .000003 per share which is the better deal?

trick question: by the math they're the same deal, the difference is what you think each project will do in the future.