GRID – Update
GRID CrypostocksThe Good, The Bad & The UglyвThe Goodв The period of hardware reinvestment has
ended. Any funds that would have been used to buy hardware will now
be used to pay dividends. This is the dividend collection
address: GRIDThis is the link to the active miners
Site A: TulsaThis is the link to the active miners
Site B: KC I will add an S1 Ant Miner to the pool
to help accelerate dividends.
As per the Cryptostock rules, I cannot
pay out fractional dividends (every share must receive at least 1
Satoshi). So once the dividend account has . 49 BTC in it, I will
disburse a dividend.
The BadвWe own a lot of hardware that is
essential worthless for commercial purposes. It has value, but from a business point of view.
The Gridseeds miners cost more to
operate in electrical costs (even with the fans removed) than what
they can produce in bitcoins / litcoins etc. Essentially I and
JcaffeJr are paying out of pocket to host and run the miners.
They crash on a regular basis and
require a restart of the entire system (which makes it a real pain
if you have them on a server of any sort. )
Up to this point I was using the
proceeds to increase the hash rate at Zen Pool, but we will be
pointing the miner’s proceeds to the dividend wallet from this point
The Very UglyвWell everything was going great until
GAW shut down cloud mining. In case you missed the GRID
updates: I moved 100% of the hardware allowance over to GAW Zen Pool
and purchased 256 SHA & Scrpyt mining hash. GAW even shut down
trading of miners (? ? ? ) WTF. . . that costs them nothing! In fact they
charge a fee to trade! ! Why the hell they would shut down trading is
a mystery to me.
The current amount of hash that we own
on GAW is:
~1. 1 ths. SHA256 and 15 mhs scrypt
This is a screen shot from our ledger
today: GRID-ZENThis means our primary method of kick
starting these payouts is on hold. We still have our hardware just
not the miners on the GAW Zen Pool site.
Moving forward: If GAW Zen Pool
starts back up, we are good to goв. If they go under, then we
are SOL. I will let you know however that I am filing a lien on the
hardware to protect our interests. Their warehouse and office is in
in San Antonio, TX. Its less than a $700 worth of hardware, but I’m
not letting them just have it. If I get the money I’ll just disburse
the funds to the dividend pool. I will post a copy of lien in next