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Interesting article regarding the state of crypto mining in general.
state of crypto mining
Good day today Go ASAMA!
If you were a business buying back shares... Would you tell anyone until you are done?
Are you asking if someone payed a person with mining rigs?
I think you might be misunderstanding the article in which you can't use Bitcoin or any crypto as a means of payment for goods and services in Vietnam mainly because they probably don't have a way to tax it yet...
This doesn't affect mining operations... Think of it as saying that it's ok to mine raw gold but you can spend it unless you convert it to the local currency...
Thanks for the info
7k miners imported into Vietnam
I also found some recent news regarding the massive import of mining hardware into Vietnam. It also details impending regulation which could be the USA link as well..
Bitcoin.com
Perhaps what Mr. Y did was facilitate the importing of mining hardware through contacts at canoe and bitmain for ASAMA.
Correct me if I'm wrong
As SANP moves towards an actual company with fundamentals (operations corporate structure, advertising etc.) in place it should begin to have a PPS valued at it's actual corporate earnings. Which with Bitcoin mining are linear (more miners equals more revenues).
(BTW They aren't just mining Bitcoin which is really smart to diversify your operations)
Once the OTC financial filings are updated and the stop sign is removed it should have no problem going penny and then dime on fundamentals alone. (Why would this not be th case?)
Things that reassure me about this is that filing in Florida updating the corporate structure and the social media from Vietnam looks "culturally appropriate" for such an event. Also the shots of the mining hardware looks legit I'm not too worried about the lack of any location in formation as that's easily half a million dollars in easily stolen equipment. The video cards alone are extremely hard to find at the moment.
Some people think that this is a LARP (live action role play) and there is no ASAMA mine though financials would put that to rest. The outstanding shares are an issue but other companies have valued up with even more shares outstanding right?
ASAMA Miner Hardware Photo
ASAMA Tweet
Just a casual few picture of 50k worth of video cards (1080 ti's? They're double fanned so they're up there in quality) and 60k worth of Antminers. I can't tell what is in the racks on the first picture.
They are mining something in addition to Bitcoin and they aren't playing around...
The Bright future of SANP
Some brief internet research suggests that 911 is a fabled MM signal which means "news incoming".. which is obvious for anyone who has been watching this stock for longer than a week... The OTC update will be huge and I think everyone is hoping they just buy shares versus a reverse split. This isn't my area of expertise but I can see this is the only crypto play that has a legitimate asian connection. Important because Asia is the abyss from which all bitcoins spew.
My initial feelings regarding this stock have born out well. Im in this since Canoe pool merger news so I don't carry the emotional baggage of podweks or cigars or wine. I think that someone said that some people execute deals and others manage and I think that is what we have with Mr. Y. Pretty awesome move completely out of nowhere which is straight out of "Art of the deal".
On the fundamentals I see that cryptocurrency mining is affected by 4 things, cost of equipment, cost of electricity and cost of regulation and price of Bitcoin. Most of which is in ASAMAs favor
Price of equipment is easy because if you are in Asia and buying in bulk I'm sure you get a great deal.
Lets take it at face value that ASAMA has 5k machines which are Antminer S9s which means they currently have 70000 T/H and at a vietnam price of 8 cents a kwh would be clearing 1.19 million dollars a month. Running that many miners is no small task but is completely manageable and still maintain a profitable overhead.
Recently other ASIC miners have been developed for other mining protocols like ethash (etherium), equihash (every other alt coin) and cryptoknight (monero) so I wouldn't be surprised if they have a diversified portfolio of ASIC miners and are involved in proof of stake currencies as well.
Veitnam appears to be at the same crossroads to crypto regulation as many other adian countried with crypto regulation, though I suspect it's more related to adoption versus mining, currently Bitcoin is a non taxable asset and it's illegal to pay for things with crypto but that will change soon.
It's my belief that mining operations will move stateside due to the relative stability of the regulatory environment and security. But maybe not, perhaps it's more profitable to have the investment be stateside and the mining be international like other industries..
With the NYSE considering not only creating a futures market but an actual Bitcoin exchange we are still way ahead on general investor acceptance of Bitcoin, it's current price of 9k is a new floor and will be 20k by the end of the year or even more should the NYSE create it's own exchange and bring Bitcoin investment out of the dark. If you mine Bitcoin you sort of don't care about price all too much because even at lower prices you still make money. It's unlikely for Bitcoin to fall below the price mining operations are willing to sell it at but thats the market forces affecting most commodities, most people see a bullish future in fintech and crypto.
All in all, While ASAMA won't be the last investable mining farm it certainly is the first.
Which in crypto terms means "moon soon then lambo".
GLTA $SANP
Bitcoin mining Calculator
NYSE Bitcoin exchange
Vietnam Crypto Regulations
Haha, POS is Proof of Stake... Honestly there's a lot of etherium block chain projects that have a lot of funding for waaaay less of a deliverable product... If they can actually pull that off it would revolutionize a niche high value industry.... With actual real world implications for the use of a distributive network platform...
PO8 is actually pretty cool: My Take
To be honest, PO8 is a pretty great idea and seems revolutionary in a niche industry of marine archaeology salvation "Treasure hunters". There hae been a lot of "Yarrr Durr Yarrr" posts but reviewing the project reveals a pretty great idea... and if SANP is involved, this could be great for us.
Whats good
PO8 is a proof of stake token vs proof of work. POS Tokens require you to hold tokens in a wallet and it allows you to serve as a computing node for the network. Essentially you purchase enough tokens to participate in the network. By staking these tokens you take them out of liquidity temporarily which also reduces the circulating supply generally driving up value.
This POS model has two prongs, an automatic option where you serve as a distributed computational processing node and an interactive one where you actually review information yourself and accomplish bounties.People can earn "silver" which will have its own exchange value to P08. It is unclear what this value is...
Distributive and crowd-sourced solutions to big data makes sense where it could really help advance a smaller recovery operation where I am sure there is a large amount of data to analyze with only a few hands on deck to do it.
The second great thing would be a decentralized exchange run by the token PO8 where additional capital would flow into the ecosystem of the coin to purchase the recovered artifacts. This does seem to break the hegemony of larger auction houses who take a large bite out of the profit margins of recovery operations. An effective, decentralized exchange for historical artifacts would destroy the current market standard bearers and itself could claim a sizable market share.
The media behind this project actually is really top notch, this they have everything (telegram, reddit, Github, twitter....) The design is also quite good.
Apparently The Bahamas is "crypto friendly" and they have been issued a permit to conduct recovery operations which appears pretty rare...
Whats "Bad"
The private sale and crowd sale has pretty high standards for minimum investments. I am sure that they have secured a few etherium whales that hold a lot of cheaper etherium at current market value you are looking at 25k initial investment in a pretty revolutionary product. This seems risky or at least.... A risk many investors may not take. Many people like cryptocurrency for its liquidity, without having high volume exchanges lined up... this might scare many people off. Also.. For the regular crowd sale where you buy tokens for 0.1 etherium... without exchange support many people would be leery of spending this kind of crypto with so many other projects going on.. They really need to generate some huge press to accomplish this in a bear market where most people would rather hold fiat...
This also has to be taken into account that from a perspective of people investing in Archaeological recovery operations. Spending 25k to get in on the ground floor of an operation might actually be cheap and doing it with etherium in the Bahamas might also a great under the radar opportunity. To a millionaire... 25k isnt the biggest deal to get in on this action. I may betray my plebeian perspective here and misunderstand the average wealth of the community. Archaeological recovery people are probably like people that buy art but way cooler, someone you would rather have a beer with....
The roadmap is pretty aggressive given the team size
If the presale does not generate enough revenue to ramp up the team, the project could lose steam and be unable to deliver.
ICO free bee is over for the general crypto community, they really need to market to people already involved in "treasure hunting".
What's fit to be seen
Creating a decentralized auction house/distributed network requires the accumulation of a pretty large brain power team, while I am sure you could outsource a lot of the work under the direction of the CIO the project seems pretty niche not to have one in house. This won't happen overnight... Blockchain programmers charge 250 - 500k a year for good ones and there's literally not enough of them around for even more established projects with more resources to use. Again, with any business, its about your people...
Also, ICOs (initial coin offerings, this is a way to generate investment in a project by offering blocks of coins with bonuses and other incentives... They are looking to raise 10 Million$ worth) really aren't in vogue at the moment. The ICO craze is somewhat over in which a blockchain idea could essentially get funding based on being a block chain idea. What makes this different is the niche of the market and how it would appeal to those people involved in it.
This being said, Non-ICO projects are incredibly hampered by funding issues. This has to ICO for it to work imho...
Final Thoughts
It has both the interactive qualities of distributed computational power and personal interaction that people involved in the community will love. A decentralized archaeological exchange would upset the current market and bring value to the token. In fact... I am willing to bet that those in the community are quite excited about this new and daring project. I kinda wish I had 25k of etherium laying around to do just that...
How this relates to SANP... well... know one really knows... I guess we will find out...
As always feel free to PM me include your email as I dont have the fancy acccount that allows me to PM people...
Proof Of Eight White paper
"welcome to the twilight zone... The story your about to see..." that guy should be our spokesman! I'm interested in seeing where this ride goes! SANP!
This "Crypto is ded" Meme is hilarious.
Cryptocurrency or fintech (Financial Technology) is really just beginning. Currently there is a technology war going on to see which technology will be the King. This is a protocol war, consider VHS vs Betamax or DVD vs BluRay. How this relates to santo, and why the growship containers actually makes sense, is that the development of the mining operations is what will bring profit to the large scale investors.
Bitcoin is "down" to sub 10k and may even go to 4k in the nearterm future, however over a 2 years it has outperformed any securities.
Regarding mining operations...
At 14cents a kilowatt hour, two of my antminer s9s make 300 dollars a month. This is even at historically high network difficulty levels. If Frankie and Ling create a partnership in which they develop mining nodes around the US based upon shipping container based mining, this would revolutionize the current mining industry which develops large scale investment into static operations. Don't like the electricity prices? Hook up your operation to a semi and drive it somewhere else.. Growpods are designed to dissipate and manage heat which is the huge byproduct of miners.... Oh and wait... you can grow stuff with heat....
If santo pulls this off its big.. real big
From what I understand most mergers are executed under extensive NDAs which prevent their public discussion prior to their completion... and any public discussion of it could be a breach of contract... It also appears as if we are in an accumulation phase. Doesn't the fact that the gap between the bids and the asks show that there are hodlers of SANP pulling the price upwards?
Skinnyman1967 Bitcoin Cash: Bitcoin cash was a fork of Bitcoin that sought to increase transaction efficiency by increasing the size of the blocks which are added to the block chain. Because more transactions could be added to each block you could essentially transact faster. Currently Bitcoin is one of the slowest and relatively inefficient methods of transacting cryptocurrency because of self imposed limitations on how the currency is generated. Because Bitcoin Cash is a fork of bitcoin it uses the same algorithm in its processing (SHA-256) which current ASIC (Application specific integrated circuits) miners can chose to mine.
This is an effort to make bitcoin a more spendable currency. As in, If you bought a coffee with bitcoin right now it would probably take you 20 minutes of waiting around till the transaction settled... which makes it something you would not adopt as a transactional currency.
In my humble opinion you don't want reserve currencies the same thing as transactional ones... but there are people here that probably have deeper understandings of this...
Unfortunately for Bitcoin cash is that there are better more efficient methods of doing this already (see Nano (I actually accept this at my online business) , See SiaCoin, See Ripple (for banks))
Because of the relative network difficulty it is more profitable (by a few percentage points) to mine Bitcoin Cash. Miners, Especially gigantic mining pools like Canoe Pool, run daily if not hourly mining efficiency calculations and I am sure mine both...
If you look at a Antminer S9 it looks like a toaster and it goes bang bang with money! :)
I think there is some misunderstanding about what this potential venture is and what makes it somewhat revolutionary compared to other plays. What I believe we are seeing here is an investment in bitcoin mining in america where essentially shares of the company are representative of shares of the profit the operation. What differentiates this from purchasing "cloud mining" shares is that you do not directly receive BTC for your participation in the company you receive a value of the operations profit. Most cloud mining operations are scams. More scammy than OTC.
Currently mining profits are under heavy stress because of power cost vs equipment cost vs network difficulty. (If you don't understand how network difficulty works for bitcoin mining feel free to pm me and I'll respond via email to explain it to you.) What the competitive edge a Chinese company can bring to american operations would be a huge discount on mining hardware, industrial sized investment which would allow negotiations for power rates from local companies (depending on where you live this is facing some scrutiny look at plattsburg NY). This is an actual valuable business proposition and is something that no other BTC play has in its pocket. This is the actual value of SANP and why you should be SANP long and do everything you can to support a merger.
If canoe mining is looking for a company to bring it to the stock market with american mining operations, then SANP is perfect for it as a vehicle. Why mine in america? Because we don't have the corrupt/saturated market of BTC mining in China, also the chinese government will at one point put regulations in place to stifle mining growth. Also America has... the stock market!
If this comes online, BTC goes back to 20k, which it will do... If there is a reverse split and a re-branding, you're all millionares and the ceos/board are new billionares.
Please don't read stupid posts about "Muh GPU 1080 can't mine your pool Durr" and buy into it. Do your due diligence and if you have any questions about BTC in general... feel free to PM me.
Honestly the price of btc falling a bit is good for mining enterprises as a lower price ostensibly lowers the number of people mining which lowers difficulty which increases likelihood of mining a bitcoin increasing return...