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Looking to get into this tomorrow.
Waiting on the news with the MMJ play, which should make this pop. At least that is what my play on this is O_o
Trust me, that is all I wish for, myself included!!!
I have been here since October!!!
Have a few Million shares more than I would like to have at this time, but this beast is not done yet and will be waiting for another pump before I exit.
GLTA & Yourself Jufel, you have been around here for quiet some time now, lets see how well this company rewards us =P
#11 now. We have news around the corner as to their cash flow plans.
I am pretty sure they see they can only print so many shares now and maybe, just MAYBE they decide to do something business like for a change...
Big maybe, but holding long enough to see if this company plans on doing anything, other than dumping shares/notes.
GLTA the silly longs here, like myself, and any newcomers.
You are confused at how bitcoin mining works...
They are mining BTC in GHash and BTC Guild's pool being paid out on every found block in their pools proportionately to their hashing power, which having the Ph/s that those pools have they are spewing out blocks. (Sneak peak of MELY =D)
Having 100 Th/s in their own pool yields a block find approx. every 8 days 14 hours at current difficulty, which varies depending on luck.
On the other hand having 200 Th/s seems for feasible with finding a block cutting that time in half to 4 days 7 hours.
I would say they are waiting for their other 100 servers to arrive to have a bigger pool which will in turn give them more exposure and likelihood of other miners joining their pool.
$MELY
Sorry man, but this stock has little to no volume ever...
Seemed like it was a little pump that happened...Only $50-$75 volume today...
I will have this on my watchlist though, thanks for the heads up Brad.
GLTY
There was only like $500-$1000 volume today...
Why the recent spike in price???
Something is not adding up.
This company does nothing!!! Like what the F!!!
They talked about updating their website way back when, which never even took place...
They need to put a picture of all these scum bags faces on this page on their website:
http://www.gncc-capital.com/Fraud-and-Corruption.html
Maybe one of these days I will see the PPS be over .0010 again like good ol' days...but then again I probably have better luck winning the mega millions.
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So frustrating to say the least...
Would prefer not to go back and forth with you, but if you claim to own stock here and believe it is going into trips, cut your losses and move on.
100 Th/s mining power currently expected to go up to 1.8 Ph/s within a year...Did you read that correctly 1.8 Ph/s
Do some DD to truly understand this company better.
We should still be waiting for these 100 Th/s servers, since they originally were supposed to be here in September.
$MELY
Personally, I do not care what the PPS is at now. All I know is that I am green.
I have been around long enough to know what I hold here.
$MELY
Maybe instead of taking into account the shares, you take into account what this company does, YOU would get it...
$MELY
Thank you for that clarification
Usually is the case, but as a new investor here I have noticed a few filings that were a little odd and the only sticky post here is butchering the company, given it should be known for all new comers.
I am playing this as a bounce play, but what has been the situation for the past 6+ months of down trending? They are still selling their products as well as having revenues still, correct?
I feel like I am missing something here.
Just got in at 13 yesterday, any reason(s) why you think this will be at 0.0001?
TIA
Just trying to be informative as possible, no problem at all.
This is new technology for almost everybody on this board and we have a glimpse first hand at how the blockchain, bitcoin, and mining all works.
We truly have a great company here that has been on point with their PR's and date constraints if not surpassing them, which they have!
I am glad to say I own stock here and plan on staying here for quite some time. We just need to get these miners in OUR pool and test our luck =P
I have always been a gambler and this play is right down my alley, but the only difference is that we have house edge ;) 8+ days to generate one block, solo, which in a pool I hope to see at least an additional 25-50 Th/s from outside miners to cut down on block generation.
1.8 Ph/s is nothing to look past...That is some SERIOUS mining power and will prove the pool strong after they all have been added.
My hard part is figuring out which points I want to sell at, which I guess is not a bad thing.
Good luck to all here, $MELY included in finding blocks so we can all be happy together.
This is for sure and they will most likely take it at a discounted rate since they do not worry about any processing fees.
That would be JUICY
I want them to update us on their next shipment!!!
My hopes would be receiving these next 100 miners within 3 weeks time if they plan on expanding to 1800 within 12 months.
This will run out of this ridiculous PPS when the Miners are in THEIR pool so we can all see the revenue pouring in.
This is a sleeper...make sure you have some shares when this giant awakes...
Dreamer Posts PFFFFFFT....More like Logical Posts.
$MELY
They see me mining, they hating
Patrolling IHub tryin to catch me mining bitcoin
Tryin to catch me mining bitcoin
Tryin to catch me mining bitcoin
Tryin to catch me mining bitcoin
Tryin to catch me mining bitcoin
$MELY
77!!!!!!
We will be at 100 soon with a PR telling us when the next 100 miners will arrive!!!!
Almost a WEEEEEEEEEEEEEEEEEEEEEEEE =)
$MELY
Will be looking for a nice entry tomorrow.
MM's will shake some more cheap shares out of the weak shareholders here like every other OTC. Filthy MM's =P
This chart is screaming ten bagger all over it imo. Seems like a great bottom play.
Why the 6-9 month dip after the run???
Reversal seems imminent but will be doing DD for the rest of the night with this one.
I plan on them PR'ing how much they have currently mined before they pump their miners into their pool.
They will be EXTREMELY transparent once they are in their own pool.
Instead of receiving Quarterly reports we will be able to see their LIVE profits being mined!!!
$MELY will be turning heads. I still cannot wait until they solve their first block $$$$$$$$$$$$$$$$$$$
Once all the miners are in their pool we will be able to see every block they solve
MELY: WHAT IS BITCOIN?
Introduction to Bitcoin
Forget most things you've heard. People discover Bitcoin in a variety of ways, but usually pick up some sort of misconception like "Bitcoin gives free money to people with computers" or "in order to use Bitcoin I have to use a program that wastes electricity for nothing" along the way. Here is a good summary to help you understand Bitcoin in general, by focusing on what Bitcoin is and what problem it solves. These two things are not typically well explained on most websites, and it is difficult to appreciate just how effective a technology Bitcoin is until they are understood.
What Bitcoin is: An agreement amongst a community of people to use 21 million secure mathematical tokens--"bitcoins"--as money, like traditional African and Asian societies used the money cowry. Unlike the money cowry:
there will never be more bitcoins
they are impossible to counterfeit
they can be divided into as small of pieces as you want
and they can be transferred instantly across great distances via a digital connection such as the internet.
This is accomplished by the use of powerful cryptography many times stronger than that used by banks. Instead of simply being "sent" coins have to be cryptographically signed over from one entity to another, essentially putting a lock and key on each token so that bitcoins can be securely backed up in multiple places, and so that copying doesn't increase the amount you own.
Because bitcoins are given their value by the community, they don't need to be accepted by anyone else or backed by any authority to succeed. They are like a local currency except much, much more effective and local to the whole world. As an example of how effective the community is at "backing" the bitcoin: on April 4th 2011 30,000 bitcoins were abruptly sold on the largest Bitcoin exchange, consuming nearly all "buy" offers on the order book and dropping the price by nearly 1/3. But within a couple of days, the price on the exchange had fully rebounded and bitcoins were again trading at good volumes, with large "buy" offers slowly replacing the ones consumed by the trades. The ability of such a small economy (there were only 5 million out of the total 21 million bitcoins circulating then, or about 3.75 million USD worth at then-current exchange rates) to absorb such a large sell-off without crashing shows that bitcoins were already working beautifully.
What problem Bitcoin solves: Mathematically, the specific implementation of the bitcoin protocol solves the problem of "how to do all of the above without trusting anyone". If that sounds amazing, it should! Normally a local currency has to trust all kinds of people for it to be able to work. So does a national currency. And in both cases, that trust is often abused. But with Bitcoin, there's no one person who can abuse the system. Nobody can print more money, nobody can re-use the coins simply by making a copy, and nobody can use anyone else's coins without having direct access to their keys. People who break its mathematical "rules" simply end up creating a whole different system incompatible with the first. As long as these rules are followed by someone, the only way Bitcoin can fail is for everyone to stop using it.
This marvelous quality of not having to trust anyone is achieved in two ways. First, through the use of cutting-edge cryptography. Cryptography ensures that only the owner of the bitcoins has the authority to spend them. The cryptography used in Bitcoin is so strong that all the world's online banking would be compromised before Bitcoin would be, and it can even be upgraded if that were to start to happen. It's like if each banknote in your pocket had a 100-digit combination lock on it that couldn't be removed without destroying the bill itself. Bitcoin is that secure.
But the second way of securing the system, called the blockchain, is where the real magic happens. The blockchain is a single, authoritative record of confirmed transactions which is stored on the peer to peer Bitcoin network. Even with top-notch digital encryption, if there was no central registry to show that certain bitcoins had already been "paid" to someone else, you could sign over the same coins to multiple people in what's called a double-spend attack, like writing cheques for more money than you have in your account. Normally this is prevented by a central authority, the bank, who keeps track of all the cheques you write and makes sure they don't exceed the amount of money you have. Even so, most people won't accept a cheque from you unless they really trust you, and the bank has to spend a lot of money physically protecting those central records, whether they are kept in a physical or digital form. Not to mention, sometimes a bank employee can abuse their position of trust. And, in traditional banking, the bank itself doesn't have to follow the rules you do--it can lend out more money than it actually has.
The blockchain fixes all these problems by creating a single master registry of the already-cryptographically-secured bitcoin transfers, verifying them and locking them down in a highly competitive market called mining. In return for this critical role, the Bitcoin community rewards miners with a set amount of bitcoins per block, taken from the original limited quantity on a pre-agreed schedule. As that original amount gradually runs out, this reward will be replaced by fees paid to prioritise one transaction over another--again in a highly competitive market to ensure the lowest possible cost. The transactions are verified and locked in by the computational work of mining in a very special way so that no one else can change the official record of transactions without doing more computational work than the cumulative work of all miners across the whole network.
In conclusion: All this mathematical technology may be a bit of a mouthful, but what it means in practice is that Bitcoin works just like cash. Bitcoin transactions are intentionally irreversible--unlike credit cards or PayPal where chargebacks can invalidate a payment that has already been made. And there are no middlemen. Transactions are completed directly between the sender and the receiver via the peer to peer network.
Because of Bitcoin's intricate design, the network remains secure no matter where or how you process Bitcoin transactions. Which is incredible--no one else has ever tried to create a system that worked this way! All previous monetary systems have relied on trusting somebody, whether it was the king, town hall, the federal reserve, or banks. Bitcoin doesn't. It's guaranteed instead by the laws of mathematics, and that's why it has everyone from technologists to economists very excited.
MELY: BITCOIN MINING INTRODUCTION 101
Introduction
Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function.
The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.
Bitcoin mining is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground.
Difficulty
The Computationally-Difficult Problem
Mining a block is difficult because the SHA-256 hash of a block's header must be lower than or equal to the target in order for the block to be accepted by the network. This problem can be simplified for explanation purposes: The hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. See Proof of work for more information.
The Difficulty Metric
The difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes. As more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless.
Reward
When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 25 bitcoins; this value will halve every 210,000 blocks. See Controlled Currency Supply.
Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.
The mining ecosystem
Hardware
FPGA Module
Users have used various types of hardware over time to mine blocks. Hardware specifications and performance statistics are detailed on the Mining Hardware Comparison page.
CPU Mining
Early Bitcoin client versions allowed users to use their CPUs to mine. As the network hashrate grew with more power efficient GPU miners the amount of Bitcoin's produced by CPU mining became lower than the cost of power to operate the CPUS. The option still exists in the reference Bitcoin client, but it is disabled by default.
GPU Mining
GPU Mining is drastically faster and more efficient than CPU mining. See the main article: Why a GPU mines faster than a CPU. A variety of popular mining rigs have been documented.
FPGA Mining
FPGA mining is a very efficient and fast way to mine, comparable to GPU mining and drastically outperforming CPU mining. FPGAs typically consume very small amounts of power with relatively high hash ratings, making them more viable and efficient than GPU mining. See Mining Hardware Comparison for FPGA hardware specifications and statistics.
ASIC Mining
An application-specific integrated circuit, or ASIC, is a microchip designed and manufactured for a very specific purpose. ASICs designed for Bitcoin mining were first released in 2013. For the amount of power they consume, they are vastly faster than all previous technologies and already has made GPU mining financially unwise in some countries and setups.
Cloud Mining
Instead of taking physical possession of a mining rig which can face additional costs and delays. Cloud mining is quickly becoming a better alternative. It allows you to 'rent' hashing power from another miner. It can be purchased on as little as an hourly basis thus allowing one to rent from anything from small scale rigs to industrial scale farms. A sample service is CEX.IO
Mining services
Mining contractors provide mining services with performance specified by contract. They may, for example, rent out a specific level of mining capacity for a set price for a specific duration.
Mining shares provide Mining as a Service (MaaS). These break large-scale datacenter mining down to easily manageable pieces that are available in the form of shares of equipment.
Hosted mining services create some systemic risk for the Bitcoin system because they undermine the security assumption that the control of mining power is well distributed. If too much mining becomes consolidated in large hosting providers and an attacker is able to compromise some of these providers they could potentially disrupt the Bitcoin system or rip off people they transact with with reversals.
Pools
As more and more miners competed for the limited supply of blocks, individuals found that they were working for months without finding a block and receiving reward for their mining efforts. This made mining something of a gamble. To address the variance in their income miners started organizing themselves into pools so that they could share rewards more evenly. See Pooled mining and Comparison of mining pools.
History
Bitcoin's public ledger (the 'block chain') was started on January 3rd, 2009 at 18:15 UTC presumably by Satoshi Nakamoto. The first block is known as the genesis block. The first transaction recorded in the first block was a single transaction paying the reward of 50 new bitcoins to its creator.
Current Network Hashrate: 123353.15 Th/s
MELY planning on having 1800 Th/s within 12 months.
Given the Network hashrate will steadily increase as more miners are released/people become aware, but currently:
1800/123353.15 x 100 = 1.46% of the global mining power.
That is HUGE!!!!
There pool would be listed here:
https://blockchain.info/pools
and just give them more exposure for people to hop in the pool!!!
IF ONLY PEOPLE SEE THE VISION MELY DOES!!!
TIC TOC!!!
$MELY
There is no dilution here LMAO...
I needed a good laugh, thanks for that.
Once MELY shows their revenue then we are good to go. A lot of people are just waiting on that before they jump in, but we have 50+ Th/s mining power at the moment about to be 100 Th/s come early next week...
This company has outperformed ever since they said they would be acquiring all these miners in June/July rather than the original September that they set for themselves
Oh boy does it feel good to be invested here. BTC mining has no end in sight and so does MELY...1800 you say?? 1.8 Ph/s =0.....Mind = Blown
Get ready for phase two for another 100 miners!!!!!!
Long and strong in a penny stock for once does not seem so idiotic.
$MELY is only going higher...
This is just the beginning.
Anybody know what dcg and sgm stand for on the workers??
My assumption would be to differentiate from Ghash pool to BTC guild pool?
We should make a DD post that is short and sweet to just blast EVERYWHERE
Maybe they should be labeling them 001, 002, since after all they have the potential of having up to 500 miners set up in their new facility.
I cannot wait to hear news on PHASE TWO!!!
They would not call something Phase one if they didn't have plans to expand into further phases...
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$MELY
39 Servers now...I love seeing a company hard at work...
Unlike 90%+ of these OTC companies, MELY is setting itself up for amazing revenues.
So many things can be done once they have BTC, sell preloaded btc cards...buy a few BTC atms...also reaching here, but we all know they are opening up shop in Washington for their miners, so maybe something incorporating weed? O_o
So much potential for the next weeks/months/years ahead.
Go $MELY!!!
Oh man, I feel so feeble with my amount of shares compared to you guys...
I am also jealous!!!!
I am averaged at 27 with 1.9M
Love how my portfolio is pretty much all MELY...#Winning
Glad to be along with all you longs here...It is about to be SHOWTIME
Just wait until they get all their miners into their own pool and then the fun really starts.
July 11th right around the corner!!!
Weeeeeeeeeeee =D
$MELY
Come on Chiron!!!!
Just like 100 Th/s of mining power cannot be installed/tested in one day =/
Give this company some time. They are being so transparent it is ridiculous. There is really nothing more to ask of, other than solving blocks and boosting the MELY pool!!!
The uptrend will begin to commence very soon imvho
More acceptance of bitcoin globally in ALL countries...
This is a great time we are living in right now to witness a decentralized currency adoption.
Happy 4th of July all, stay safe! 'Murica!
$MELY
Yeah, lets see. I really want to get into this company, but I will be patient.
Idk how much lower this can go...
NO CLUE how they have a cap of $13.5 Million...That is INSANE!!!
Welcome aboard!!!
The MELY train is set to depart in 2 weeks, grab your tickets while you can!!!
$MELY