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[ANN] [nXtGen Mining] The next generation of mining!
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Author Topic: [ANN] [nXtGen Mining] The next generation of mining!  (Read 157857 times)

MrV777

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #20 on: May 20, 2014, 04:32:36 pm »

I received an email back from the company today and they stated they are aiming to ship units purchased until the end of this month by August. That probably means late August :) So ROI wouldn't start for at least 3 months and by then difficulty could change making it harder to predict a ROI. If the community wants a futures contract I will gladly sell it at what the community thinks is fair.

Thank you for being so thorough.  Great work with it.
I'm not sure if it will change anything for you or help with anything, but ZeusMiner and GAW miners (using Zeus Miners) will be shipping new SCRYPT ASICs at the end of this month.
Just an FYI for you
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Lagb

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #21 on: May 20, 2014, 05:58:47 pm »

Step 1: Done

Step 2: Done

Step 3: Up to you...    ;D

Awesome thanks for your support. Just out of curiosity which shares did you purchase? I'm looking at using some personal mining gear for the GHS just to get things rolling :)
lol  :D   As I was unable to know what shares will be more profitable, I bought 50 KHS and 10 GHS...   :)

If it is more convenient for you to begin with only Scrypt, or only SHA256, we can eXchange (fairly, of course ;) ) my shares until all will be ready? I have no problem with that.
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tersagun

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #22 on: May 20, 2014, 07:08:14 pm »

I'm wondering about the 2000 shares for Ghs;
1000 Gh/s hash power divided into 2000 shares ==> 1 share = 0.5Gh/s mining power  ==> ~0.015$/day  ==> 0.105$ every sunday

Is that the outcome we should expect assuming the current difficulty and BTC price remains still for a while?
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MrV777

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #23 on: May 20, 2014, 07:10:40 pm »

I'm wondering about the 2000 shares for Ghs;
1000 Gh/s hash power divided into 2000 shares ==> 1 share = 0.5Gh/s mining power  ==> ~0.015$/day  ==> 0.105$ every sunday

Is that the outcome we should expect assuming the current difficulty and BTC price remains still for a while?

I'm confused by this.  Shouldn't it be 1000 GH/s for 1000 shares?  I thought it was 1GH/s per share
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tersagun

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #24 on: May 20, 2014, 07:14:38 pm »

I'm wondering about the 2000 shares for Ghs;
1000 Gh/s hash power divided into 2000 shares ==> 1 share = 0.5Gh/s mining power  ==> ~0.015$/day  ==> 0.105$ every sunday

Is that the outcome we should expect assuming the current difficulty and BTC price remains still for a while?

I'm confused by this.  Shouldn't it be 1000 GH/s for 1000 shares?  I thought it was 1GH/s per share

Maybe they plan to add another 1Ths in the future but initialy only 1 Ths rig according to OP.
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #25 on: May 20, 2014, 08:10:28 pm »

I received an email back from the company today and they stated they are aiming to ship units purchased until the end of this month by August. That probably means late August :) So ROI wouldn't start for at least 3 months and by then difficulty could change making it harder to predict a ROI. If the community wants a futures contract I will gladly sell it at what the community thinks is fair.

Thank you for being so thorough.  Great work with it.
I'm not sure if it will change anything for you or help with anything, but ZeusMiner and GAW miners (using Zeus Miners) will be shipping new SCRYPT ASICs at the end of this month.
Just an FYI for you

Will definitely take a look and I always appreciate the heads up. I want us to succeed as a group, together we can stay ahead of the curve.
« Last Edit: May 28, 2014, 09:46:15 am by GQM »
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #26 on: May 20, 2014, 08:12:12 pm »

Step 1: Done

Step 2: Done

Step 3: Up to you...    ;D

Awesome thanks for your support. Just out of curiosity which assets did you purchase? I'm looking at using some personal mining gear for the GHS just to get things rolling :)
lol  :D   As I was unable to know what shares will be more profitable, I bought 50 KHS and 10 GHS...   :)

If it is more convenient for you to begin with only Scrypt, or only SHA256, we can eXchange (fairly, of course ;) ) my shares until all will be ready? I have no problem with that.

I will leave that up to you. Currently KHS is operational and GHS should be ready to go end of this week or early next. I have about 70 GHS I may put online to get things going until the 1TH miner arrives.
« Last Edit: July 18, 2014, 03:12:19 pm by GQM »
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #27 on: May 20, 2014, 08:15:08 pm »

I'm wondering about the 2000 shares for Ghs;
1000 Gh/s hash power divided into 2000 shares ==> 1 share = 0.5Gh/s mining power  ==> ~0.015$/day  ==> 0.105$ every sunday

Is that the outcome we should expect assuming the current difficulty and BTC price remains still for a while?

I'm confused by this.  Shouldn't it be 1000 GH/s for 1000 shares?  I thought it was 1GH/s per share

Maybe they plan to add another 1Ths in the future but initialy only 1 Ths rig according to OP.

You are correct we plan on only selling what we can deliver within a short time frame. As mentioned in an earlier post that if there is enough interest we will sell future contracts but I know most prefer immediate mining :)

So to clarify assets are equal to a 1 GHS or 1 KHS lifetime contract depending on the asset purchased. Assets cannot be divided so 1 asset = 1 GHS with regards to the above statements :)
« Last Edit: July 18, 2014, 03:18:53 pm by GQM »
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tersagun

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #28 on: May 20, 2014, 08:23:35 pm »

I'm wondering about the 2000 shares for Ghs;
1000 Gh/s hash power divided into 2000 shares ==> 1 share = 0.5Gh/s mining power  ==> ~0.015$/day  ==> 0.105$ every sunday

Is that the outcome we should expect assuming the current difficulty and BTC price remains still for a while?

I'm confused by this.  Shouldn't it be 1000 GH/s for 1000 shares?  I thought it was 1GH/s per share

Maybe they plan to add another 1Ths in the future but initialy only 1 Ths rig according to OP.

You are correct we plan on only selling what we can deliver within a short time frame. As mentioned in an earlier post that if there is enough interest we will sell future contracts but I know most prefer immediate mining :)

So to clarify  shares are equal to 1 GHS or 1 KHS depending on the asset purchased. Shares cannot be divided so 1 share = 1 GHS with regards to the above statements :)

Sorry if I'm missing the point but please explain me the following scenario. Guess I'm not really good with business plans ;-) The point that there are 2000 shares seems problematic to me.

You've started with the 1000Gh/s rig. 500 shares sold. Everyone gets 0.05% of the "mined" NXT per share which is equal to 0.5Gh/s mining.
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #29 on: May 21, 2014, 12:38:10 am »

I'm wondering about the 2000 shares for Ghs;
1000 Gh/s hash power divided into 2000 shares ==> 1 share = 0.5Gh/s mining power  ==> ~0.015$/day  ==> 0.105$ every sunday

Is that the outcome we should expect assuming the current difficulty and BTC price remains still for a while?

I'm confused by this.  Shouldn't it be 1000 GH/s for 1000 shares?  I thought it was 1GH/s per share

Maybe they plan to add another 1Ths in the future but initialy only 1 Ths rig according to OP.

You are correct we plan on only selling what we can deliver within a short time frame. As mentioned in an earlier post that if there is enough interest we will sell future contracts but I know most prefer immediate mining :)

So to clarify assets are equal to 1 GHS or 1 KHS lifetime contract depending on the asset purchased. Assets cannot be divided so 1 asset = 1 GHS with regards to the above statements :)

Sorry if I'm missing the point but please explain me the following scenario. Guess I'm not really good with business plans ;-) The point that there are 2000 shares seems problematic to me.

You've started with the 1000Gh/s rig. 500 shares sold. Everyone gets 0.05% of the "mined" NXT per share which is equal to 0.5Gh/s mining.

No problem at all. If your misunderstanding there may be others as well, so I'm glad it is being clarified. What will happen is that I will have a 1 TH miner so the first 1000 assets sold will be allocated to that. The other 1000 is incase we sell out of the initial 1000 people can still buy in and will be mining as soon as possible. I have already started a rolling purchase schedule to always be getting new units to keep new asset holders happy. Eventually this will operate more consistently. Right now I don't want to over invest in old tech. As we grow we will have more buying power and be able to order extra knowing based on historical growth that we can fill those assets.

How the dividends will work currently as an example is that of the 12,000 KHS currently mining, we will be paying out a percentage of the total assets you have divided by active mining assets.

So for example if we have 12,000 active mining assets and you own 1000 of those. You effectively hold 8.3333333% of the active mining power. So you will receive 8.3333333% of the profits produced by the 12 MH/s that week.

If we sell out of the 12000 assets before I receive the next machine then those users will need to wait until their machine is live. That is the benefit to the early adopters and why I have pushed to get some mining power online to start generating dividends. I have other ways to get us some more power if needed but I'm trying to keep the businesses separate. I will only resort to this if there are major delays in shipping.

Hope that helps clarify things a little. Also sorry for the delay has been a busy day at the office.
« Last Edit: July 18, 2014, 03:18:07 pm by GQM »
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tersagun

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #30 on: May 21, 2014, 05:56:24 am »

That makes sense now, thank you. Knowing that the 2000 total shares (on GHS) are not identical and only 1000 of the shares will be counted towards the first mining rigs' performance is good.

So basically it's 1Gh/s per share as mrv777 assumed. i.e. 0.2$ every sunday.


BTW, in case you are going to add a 1.5 Th/s rig after 4 months, as the second BTC miner, would the second batch of 1000 share holders receive 1.5 Gh/s per share or everyone will receive 2500/2000 = 1.25 GH/s share?
The reason I'm asking is; 1 GH/s in August won't be 1 GH/s in May. Shall we assume "1GHs" is written in stone and the mining performance per share will diminish with time or we are actually investing into the project itself?
« Last Edit: May 21, 2014, 07:59:55 am by tersagun »
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Kevinrasf

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #31 on: May 21, 2014, 11:45:51 am »

Hello,



I bought 100 GHS shares, I would like to know if you still plan on starting to mine on Friday.

or are there delays because I think above you mean the KHS miner will be delivered in August?

Please advise when you will start to mine?


Thank you,

Kind Regards,
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #32 on: May 21, 2014, 04:46:02 pm »

That makes sense now, thank you. Knowing that the 2000 total shares (on GHS) are not identical and only 1000 of the shares will be counted towards the first mining rigs' performance is good.

So basically it's 1Gh/s per share as mrv777 assumed. i.e. 0.2$ every sunday.


BTW, in case you are going to add a 1.5 Th/s rig after 4 months, as the second BTC miner, would the second batch of 1000 share holders receive 1.5 Gh/s per share or everyone will receive 2500/2000 = 1.25 GH/s share?
The reason I'm asking is; 1 GH/s in August won't be 1 GH/s in May. Shall we assume "1GHs" is written in stone and the mining performance per share will diminish with time or we are actually investing into the project itself?

The idea is that I will sell GHS as a lifetime contract. Things will get to messy otherwise. As time goes on you are correct 1 GHS won't produce as much which is why 1 GHS today is worth more than 1 GHS in August. You can always purchase more assets along the way to maintain a constant income.

Sometimes I explain things to much and confuse some. The point of this is to make things easy for asset holders. Mining is a tricky game. Working as a team is far more rewarding and will allow others to get involved.

So to simplify things. When you purchase 1 GHS or 1 KHS asset you are receiving the mining revenue for that asset.

The reason I had to list more assets for the asset is because right now I cannot add more assets to an asset. I know to start things will move slowly but longterm this won't matter as much.

If I did it as described above I would not be able to operate very long.

Hope that helps.

Sent from my SM-N900W8 using Tapatalk

« Last Edit: July 18, 2014, 03:21:08 pm by GQM »
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #33 on: May 21, 2014, 04:50:21 pm »

Hello,



I bought 100 GHS shares, I would like to know if you still plan on starting to mine on Friday.

or are there delays because I think above you mean the KHS miner will be delivered in August?

Please advise when you will start to mine?


Thank you,

Kind Regards,

Hi Kevinrasf,

Thanks for your support. I have actually already began the KHS mining on http://ltc.nexgenmining.ca:9327

We have 12000 KHS mining right now. The above comments for August was regards to price. Currently I could sell August contracts a lot cheaper but again they wouldn't start until August.

GHS should be online this weekend or early next. I've got some personal machines I may bring online to get GHS investors started until the 1 TH machine arrives.

Thanks again for the support :)

Sent from my SM-N900W8 using Tapatalk

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tersagun

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #34 on: May 21, 2014, 05:18:21 pm »

Fair enough Ryan, all settled in my mind now.

The current scheme looks already well enough, just wanted to make sure.

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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #35 on: May 21, 2014, 05:23:00 pm »

Fair enough Ryan, all settled in my mind now.

The current scheme looks already well enough, just wanted to make sure.

Sent from my Lumia using Tapatalk

No worries this is all stuff that needs to be clarified. Even though English is my first and only language it was never my best subject in school lol So I apologize for any miscommunication. Math and Science was my specialty :)

Very exciting to see all the action on the AE today. We are moving forward quite nicely.

Also if I can ever give back to investors I will but as this is a new startup I need to be careful to run things tight until we have better insight and numbers to predict were we are going :) Baby steps to start.

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Kevinrasf

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #36 on: May 21, 2014, 05:40:06 pm »

Hey



I have good faith this will be a succes, so I own a total of 200 shares now.

Looking forward to updates etc :P!

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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #37 on: May 21, 2014, 05:48:54 pm »

Hello,



I have good faith this will be a succes, so I have own a total of 200 shares now.

You rock. I will do everything in my power to make sure that it is.

My passion is mining and as I began looking at other business models around crypto currency I began to realize I should do what I'm good at and enjoy doing.

I have been approached by Angel Investors and VC's wanting me to do an exchange but that is not where my true passion lies. I'd rather be in the mine digging out some digital assets :)

I hope to make this a success story that can be used to show the world how empowering a decentralized asset exchange can be to the little guy.

The story begins now :)

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MrV777

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #38 on: May 21, 2014, 05:57:21 pm »

Just bought 20.  Good luck with the mining!!
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #39 on: May 21, 2014, 06:02:16 pm »

Just bought 20.  Good luck with the mining!!

Thanks a bunch :) I appreciate the support.

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