Friday, 7 September 2012

Update

~2050 shares on market, 562 remaining to be sold for the third ASIC. Two BFL SC Single 40GH/s ASIC's paid for current wallet ~[btc]62.392. This will enable us to fully pay the 20%VAT on both ASIC's and starts us saving for our third ASIC which will take us from current (~39MH/s)per share to (>46MH/s)per share. If those 562 shares sell we can issue another ~575 to purchase our fourth ASIC to take us to over (50MH/s)per share. We may also look at btcasic.com ASIC's before paying for our next if they can beat BFL's (MH/s)/$ rate and if I can get us a discount too.
 What I need to know from investors is when should we sell some of our [btc]62.39 wallet for the possible up to £375/$600/€475 20%VAT fees. If the coin price is to drop then we could be in trouble but if prices are to rise we are laughing. The VAT fees need to be in my HSBC savings account (so I have quick access) within six weeks anyway or on news of BFL starting to ship. I think prices are going to rise in the next six weeks but if they were to drop we could have a dilemma unless we have sold lots of more shares.