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17's are up. 16's are next. So much for 17's being support. Currently, no one can say for sure where support lies. This stock is in free fall because the dilution is taking out all levels that should be support. When the dilution stops, support will emerge.
NO one is selling at these prices and the buyers are waiting on the sidelines for confirmation of forward movement.
Thanks. So retail is selling shares at these low prices? I don't get it.
I hate to admit it, but with the volume and downtrend, it looks a lot like dilution. I have emailed the T/A, but I have not received an answer. Does anyone have any current numbers on the S/S?
Why do they tease me with the .19's if they are not going to sell me any???????
You have zero clue about which you speak...period! The price of mining does not become more expensive as the price of BTC goes up. What a clueless comment. Please do SOME homework before posting such nonsense. BTW, anyone can just ask questions to stir things up. Do you want the company to account for each and every cent every day? Come on...
First, thanks for the analysis. I am not concerned about the negative cash flow at this stage. This is essentially a start up that is in the beginning phases of its business model. I had a lot concerns about the initial negative cash flow of other start ups like AMZ* , NFL*, TLS* and look where they are now. Not to mention a lot of pharmachetical companies that bleed red over red every year. The real question is, can MELY execute their business plan. So far they have been executing ahead of schedule with a few positive surprises. It is too early in this game to conduct any cash flow analysis that will provide convincing evidence that MELY is not a going to be profitable in the long run. There simply are too many variables can change the numbers in a short period of time. Come back in a year and conduct the same analysis.
Gary, please correct your figures. The number should be 47,711,605 vice 47.1M. Thanks.
Outstanding and issued shares, according to the T/A, as of July 25, 2014 is 47,711,605.
You forgot to say...Bud.
Outstanding and issued shares as of July 25, 2014, according to the T/A, is 47,711,605.
I am not really giving advice. I just post the facts. This company does not care about shareholders. I have seen dilution machines before, but ELRA just does not let up. They dump shares like there is no tomorrow. That is why it will be difficult to make money here. You have to have perfect timing. BTW, I have seen a lot posters disappear that were promoting this stock. They are probably the ones that are currently dumping.
So you DID take my advice and sell, albeit at a loss. I am glad I was able to help someone because if you were still holding, your losses would be much greater. I feel so much better.
I am not doubting you made money on your first trade. But you intimated you bought back in around the.01 area. That is the trade I am referencing. Everyone that currently holds this stock is underwater because the bid sits at an all time low. When the next unannounced reverse split happens, it will only get worse. I have contacted the T/A to get the share count. I will post the number as soon as I get them.
You are correct in that it does not take much to set up a BTC server. The new ones are plug and play and can be set up within an hour. However, if you have to syncronize 100 servers or more in your mining pool, that may be a different story. Mining pools go down all the time because of technical reasons. I for one don't care if they ever get the servers in the pool. They are still being rewarded BTC. Yes, the BTC rate will be greater if they had the servers in the MELY pool, but I can wait until they are technically satisfied with performance or any other technical issues they are working on. Look at the problems Eligius pool had when the pool was open. People were not getting paid the correct amount of BTC (some not at all in the beginning) and other issues. Remember, when the pool is open, MELY will not only receive BTC, but they will be responsible for ensuring all participants are awarded the correct amount of BTC. That in itself is a lot of responsibility and should not be taken lightly. I can wait for them to be completely satisfied with the performance before the pool opens to the public.
ELRA sits at an ALL time low and going lower. Reverse split of 1 for 10 on the horizon.
I don't think you made any money on that last trade. Time to average down again? Cheapies for sale.
ELRA has $10,000,000 more in convertibles to sell. That equates to 1,000,000,000 1 billion shares at .01. At that rate, there will be at least 10 more 1 for 10 reverse splits. Yes you can make money with this issue, but your timing has to be impeccable. So far, the company is winning this game.
The increase of A/S to 7.5 Billion is obvious to me. They increased the S/S shortly after announcing they were going into the BTC mining business. If you were going to purchase property, infrastructure and equipment totaling several million dollars and you wanted to prevent someone from taking over those assets on the cheap, you have to increase the A/S as a de facto "poison pill." Just think if they had only 1 Billion A/S shares at .0030. The market capitalization would only be $300,000 for the entire company. They had to protect themselves and our investment by increasing the A/S. BTW, having the A/S at 7.5 does not mean 7.5 Billion will be issued and outstanding. So far they have only issued 1 Billion which is very reasonable at this point. I think it was very smart to increase the A/S before they received those 1,800 servers. Just my take...
Facts cannot be posted on this board. You can only cheerlead and obfuscate the facts. GO ELRA. LOL
The miners are still in the testing phase before going into the MELY pool They are synchronizing the miners based on GHash.io and BTC Guild pools statistics. Once the miners are calibrated using these pools and baselines are established, all the miners will be placed in the MELY pool. The GHash.io site is not always up. You just have to keep refreshing the page until you get the page that lists the miners.
Is this a twisted game for Sierra World Equity? What is their purpose of starting these rumors? Is there any way to verify or refute the rumor. Can someone call Brett and ask if this rumor is true. $15 Million in non toxic financing would provide MELY with a growth opportunities. Everyone should conduct some DD and report back to board what they found. Any other thoughts?
Can someone read my post and determine the validity of the the information provided in this link?
http://sierraworldequityreview.blogspot.com/search?q=mely
If this rumor is confirmed multi pennies will surely come. Thoughts please?
What do you think about this rumor? We must do some DD on this info. If this true, MELY is going to get a lot of attention and multi pennies will not be far away. What do you think?
http://sierraworldequityreview.blogspot.com/search?q=mely
All, please read my previous post and comment on this rumor.
http://sierraworldequityreview.blogspot.com/search?q=mely
If this is true, multi pennies are on the horizon.
I don't want to get anyone excited, but does anyone know about Sierra World Equity Review? Do they just post rumors or can there be any validity in their information. Please post any and all info vis a' vis Sierra World Equity Review so that collectively we determine validity of this rumor.
Here is the link I found:
http://sierraworldequityreview.blogspot.com/search?q=mely
First you ask what is the S/S? Then you ask who put the incorrect S/S at the top of board? If you knew the S/S was at the top of board, why would you ask about the S/S in the first place? Your first question that you answered yourself is an indication of deceptive behavior. BTW, thanks for the advice, but I will keep my shares.
1,185.30 Gh/s is the speed of the miner. It could also be read as 1.185 TH/s. GH equals gigahash and TH equals tera hash. The "s" stands for second. Therefore, this particular miner was operating at one thousand one hundred eighty five giga hashes per second. These miners are built to operate at these high speeds to enable them to solve the mathematical equations as quick as possible and find blocks of BTC. Each of MELY's miner is suppose to operate at least at 1 TH/s. Sometimes this number is lower than 1 TH/s and sometimes it is higher than 1 TH/s (as in this case). I hope this answers your question.
So you spent more money to average down to what? Lets say you spent $1000 at .054 and bought 18,518 shares. After the split you have 1,851 shares. At the current bid of .01, the value of those 1,851 shares equals a grand total of $18.51. So lets say you spent another $1,000 shares at .02 and purchased 50,000 shares and you now have 51,851 shares and your average is .0385. I hope you sold the other day. If you are still holding on, you are now underwater again. You should seriously try getting out on the next pop or before the next reverse split. Good luck with this trade.
You make some valid points. My only point of contention with ELRA is the dilution is relentless. 30,000.000 diluted shares in 6 weeks. With zero money or any asset to show for the dilution. If the dilution stops and/or revenues are recorded, I agree ELRA could be epic. But the constant dumping of shares kills all rallies. If Intergral is correct and there are $10,000,000 in convertibles that are outstanding and there is no real revenue, ELRA has no choice but to dilute. I like the potential of gaming revenue and any connection to BitCoins (there has been zero news vis a' vis BitCoins so I guess that boat has been put on the back burner). I would be a buyer at these prices if I knew dilution took a holiday. $10M is a big VIG to crack a penny at a time. Therefore, I cannot support ELRA until the dilution takes a holiday or stops. I will check back in September to look at the share structure. If another unannounced reverse stock split occurs between now and September, shareholders will be against the wall and almost no chance of recouping their monies. The next 10Q will reveal all including share structure and revenue. I will not comment again until the next 10Q is released.
Thank you for dissecting my post. Bottom line, this company is diluting more than any company I have ever seen. Since 01/25/2013, the total shares issued amount to over 36 Billion. Is 36 Billion issued shares since 2013 and cash of $9,097 low float? Where is that money? With every reverse split the float does get lower and so does your investment. Yes some people are lucky enough to make money if their timing is exactly perfect. A few days ago as you mention ,when the stock price was .008 on the bid, the ask was .015. Now if you were lucky enough to buy below .015 you could have made a little money yesterday and earlier this morning. With bid currently at .0155, there is little to any money to be made now. Finally, I know all stocks are risky, hell the stock market is smoke and mirrors, but there are companies with a product that actually make money. This company makes money by selling shares and again to support a company that is making money by selling shares with no other of income is akin to theft because in the end you will more than likely lose your hard earned money. I know the PR said that were "getting generating considerable gaming activity." It said nothing about how much money that equals. Please feel free to dissect this post so that I may provide a retort.
As Mr. Monk said, here is the thing...
First, this not a bash, just the cold hard facts. How can anyone and I mean anyone, support a company everyday, day in a day out that is stealing your money? Yes, ELRA is stealing your money. They sold 30,000,000 shares into the market in a six week period. The result of this dilution is causing your hard earned money to decrease in value. If you actually saw a criminal come to your house and steal your money, would you support that person and leave more money for them to steal? That is in essence what ELRA is doing. They put out PR's suck people in and dilute like crazy. The last time the price went to .04's and back down to .008. This time the price went to .03's and now headed back down. Each time they dilute to a greater extent. How can anyone call this a low float play when week after week, the float and outstanding shares increases. The next reverse split in circa 3 months or less will be a point of no hope for many stockholders. I get why you won't sell, but why on earth would anyone support and try to rally this stock for other clueless people to buy into this stealing machine and loose their money? I for one cannot support a company that is literally stealing money. There should be zero posts on this board, except those posted as a warning to any new investor. The term "Caveat Emptor" definitely applies to this stock.
NO one can ever predict any price movement. This stock is going to do what is going to do. Also, no one can predict the price of BitCoin tomorrow or a year from now. Over exuberance can take any stock to insane heights and short attacks can take any stock to insane lows. Know what you own and why you own any stock. I have held stocks that moved to astronomical levels for no reason and I have held stocks that made a ton of money and did not move at all. Everyone has to pick an entry point and an exit point. If you understand BTC and all that implies, then you get MELY and their potential. The price utimately, of course, will be determined by the market. Good luck with your trades.
First things first. You need a wallet to store your BTC. Within your wallet you will designate where you BTC will be placed (folder) by getting a BTC address. Each BTC address is a unique set of numbers and letters. This is how BTC are transferred securely to anywhere in the world.
Next step, purchase miners. You the input your address that you want the BTC to be transferred. Once you mined a certain amount of BTC, that amount will automatically be transferred to your wallet.
When your mining join a pool and a block is discovered, the block is shared fractionally by all pool participants. The more people in the pool (i.e. hash rate), the smaller the share. However, the greater hash rate increases your chance of finding a block.
Read about basic BTC vernacular.
https://bitcoin.org/en/vocabulary
Here is info about the equations.
https://bitcoin.org/bitcoin.pdf
You are not going see that many. When I started mining exactly one month ago at 6 TH/s, I was being rewarded .32 BTC a day. Since then the difficulty has increased by 15% and I am averaging around .18 BTC a day. In another month, I will probably get between .12 to .15 BTC a day. There is definitely diminishing returns as the difficulty increases. Next week, I am going get another 6 TH/s for a total of 12 TH/s and I should be getting around .40 BTC a day. It is a good idea to get as many TH/s as soon as possible because a year from now the network will have a lot more hashing power and the BTC return will not be that profitable for us small miners. I am hoping to average .15 during the next year that will produce around 55 BTC. Still very profitable. Even at .10 BTC a day the miners pay for themselves. The other reason to get started as soon as possible is that as the price of BTC increases, miners will be much more expensive and harder to obtain. You will enjoy mining BTC and probably, like me, find it very addictive. BTW, MELY will make a ton of money. You have to understand BTC to understand the potential here. This is not a flipping stock. The flippers and people who don't understand this BTC will sell MELY and buy back at much higher prices. My anology to MELY is AOL. People who understood the internet knew AOL was going to make a ton of money because they understood the potential of the internet.
Rockie, I do not understand why you bought? What lead you here and why put down money on something you do not understand?
MELY is in the BitCoin (BTC) mining business. BTC are creating using computers to solve mathematical equations. The first person (or group) that solves the equation is rewarded with 25 BTC (block). A BTC block is rewarded every 10 minutes. The difficulty of solving the equation increases after each block is solved. Because the difficulty is increasing every 10 minutes, you need faster computing power to dove the equation. Mining pools allows for many computers to be linked to create one big super computer to solve the equation. The more computing power you have increasing your chances of being rewarded BTC. Everyone in the mining pool gets a share of the BTC. MELY created a mining pool that will allow anyone in the world to connect to their pool and mine for BTC. Currently MELY has 100 computers (miners) that will be added to the pool that will create approximately 5 BTC/day. In the next 12 months MELY plans on increasing the total number of miners to 1,800. MELY is currently the only publicly traded company that is mining BTC.
Go here to read about everything BTC including the price of BTC. You will also read that that venture capitalist have invested 150 million dollars year to date in BTC.
http://www.coindesk.com
That is what the guy that bought in .08's a couple ago thought. Yesterday's T-Trade of 90,000 shares and todays T-Trade of 59,000 is my clue that is not quite the time to load. I have learned from experience that when T-Trades start showing up on OTC Pinks's, it is the beginning of the end and there is less of a chance for the stock to run. I am watching. Good luck with your trade.
So wait, you have bought a gold mine. You have bought the equipment. You have the workers ready and you are not going to mine for gold and just let the equipment and miners just sit there and collect dust? Come on...Your statement is illogical! It makes zero sense to have miners in hand and wait 2 to 3 months to have them operational. They will have have those miners making money ASAP.
Something is up. Six miners listed and only 5 actually mining at GHash. Hopefully, the 10 removed miners will show in the MELY pool tomorrow.
First, congrats on your profits. Second, please don't give it all back. I wish you nothing but success with your trades. BTW, if another reverse split happens, your average will become .127 or 1.27. The previous reverse split happened between .005 and .008. Lets see what happens this time around.
I suggested they would execute another split right after the previous unannounced 1 for 10. It is funny that now the continuing dilution has brought the price below .01 is obvious they will execute another reverse split. I now surmise before the next reverse split, ELRA will raise the outstanding shares between 50 Million and 100 Million and then execute another 1 for 10 reverse split. I feel bad for the poster that recently bought. With this type of dilution, there is no way to average down. The only strategy to employ here is to just say no and not purchase any shares. Take the tax loss and move on. At least when you sell and move on, you won't have to experience the psychological losses on a daily basis because that can be very depressing. The poster whose break even is $70 will be even deeper after the next reverse split. Another 1 for 10 will put his break even at $700.
Since ELRA has $10 Million and not enough revenue to cover these expenses, the only solution is dilution, dilution and more dilution. If anyone has an alternative, please post.
HHG, don't get your feathers ruffled! I actually enjoy this board. This board allows me to differentiate the actual posters from those that don't have clue. My main point has always been dilution is killing any hopes of recovery with ELRA. People keep posting, I wonder what is going on with ELRA and who is buying all these shares. Hello, as Integral pointed out, these are wash sales meant to deceive, just like the T-Trades are meant to deceive. If you are not smart to figure this out, then shame on you. IMO and I said this previously, this stock will undergo another reverse split soon because they have keep it above .01. As soon they have sold enough shares above .01 and before it goes below .01, another reverse split will occur and the cycle will repeat. That is because no investor in their right mind at this point (given the dearth of information from the company) will invest. All investors that have purchased shares and are still holding are underwater. Eventually, all shareholders will be all like the person posting that said $70/share is his break-even point.