Tuesday, 23 October 2012

Update - getting a Yubikey

I've converted the £180 VAT cash back into bitcoin as it is no longer needed for paying import VAT.  So our new wallet balance is [btc]46.89898951 and the actual wallet addresses are on the new spreadsheet done by Evolvex - https://docs.google.com/spreadsheet/ccc?key=0AolvfZ07D-3SdHBuaGcxRUw3SEkwTzUyVXVqUzRPZFE&pli=1#gid=0 - So that means we are about half way to our fourth ASIC which will take us up from 160(GH/s) over 2344 shares or 76.79(MH/s)per share to 240(GH/s) over 2344 shares or 102.389(MH/s)per share.  Which should increase profits by around ~25%.  Once we have saved enough for our fifth ASIC we will be at 300(GH/s) over 2344 shares or 127.986(MH/s)per share.  Which is about another 25% increase in profits.

Can you all see why its so important that we are saving 50% of profits for reinvestment by buying more ASIC's.  I'm even in favour of rising the reinvestment fund all the way up to 90% of profits.  As each new ASIC we buy greatly increases profits.  Although I know you all want to see some dividends being paid again.  So I won't put forward the motion of increasing the growth fund until we have all three of our pre-ordered ASIC's and have paid some dividends.

On another note as we have a large amount of bitcoins that is only going to grow in amount I'm going to purchase a Yubikey to secure our wallet.  They only cost $25 - https://store.yubico.com/store/catalog/product_info.php?products_id=3 - and don't worry our coins are not held on MtGox but on blockchain.info hybrid wallet.  So they don't have access to our wallet and copy is also kept and updated to my 'Google Drive'.