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Forums > Digital Mining Company > Topic: News Story: DMC: October Financials & Dividend
| Nov 4th 2011, 07:38 Sekioh Sachs |
News Story: DMC: October Financials & Dividend | |
| The financials are now posted in the forums for the month of October. The month was slow with a dip in price, therefore there will only be an one cent (L$0.01) dividend per share. http://www.slcapex.com/forums/topic/DMC/3763 |
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| Nov 4th 2011, 09:59 Cecil Niosaki |
Re: News Story: DMC: October Financials & Dividend | |
| I sent an email to you about this, but would it be possible to include cash on hand in your financials? | ||
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| Nov 5th 2011, 11:55 Sekioh Sachs |
Re: News Story: DMC: October Financials & Dividend | |
| I'll get around to adding that into the reports over the weekend, we did quarterlies recently so the positive gain plus that should be what we have on hand. | ||
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| Nov 6th 2011, 06:35 Skip Oceanlane |
Re: News Story: DMC: October Financials & Dividend | |
| How are Bitcoins doing these days? | ||
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| Nov 6th 2011, 15:27 Sekioh Sachs |
Re: News Story: DMC: October Financials & Dividend | |
| Rollercoaster, but still secure as ever. Depends on how you look at it, their value is down from last few months, but if you look before that, they were like pennies on the coin, because there was nobody even buying them or trading them for anything. :] To really do any good, we need things that don't cost fiat money, and can be arbitrary number of coins to make it a currency. As is, people are still tying it to currencies so it's just become a middleground. Services or trade being offered not based on a currency conversion would totally redefine the worlds economy. |
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| Nov 6th 2011, 19:16 Marishka Ixito |
Re: News Story: DMC: October Financials & Dividend | |
| Skip, Sekioh, Not meaning to start a flame war here, but as long as 99.9% or so of all bitcoin trades are trades for another currency instead of alpaca socks, bitcoins are little more than a very speculative asset to own. The chart of the bitcoin value against the dollar shows that despite bitcoin having a following with almost the same "evangelist" drive as do Jehovah witnesses, they weren't able to prevent the bubble from bursting. Miners are still selling at the rate they mine (to pay off their 5830's and 5850's), but there's too few new converts coming in to keep the demand high enough to prevent the price from falling. We're down from 30 US$ to 3 US$, with no resistance in sight. Bitcoin's been good for graphic card manufacturers, and for electricity producers, and probably been real good for a few speculators. That's about it. kind regards, Marishka |
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| Nov 8th 2011, 13:58 Sekioh Sachs |
Re: News Story: DMC: October Financials & Dividend | |
| There were very few trades at $30 because there wasn't an 'ask' wall there at that time, the peak I would categorize more around the $15-20 range more, with a plateau of about $6-8 for a good 3 months there until we broke resistance and fell. There's actually a fairly good stabilization happening at $3, but it's true only time will tell. It's true, and I said it above, people are tying it to fiat currencies by selling as soon as they basically become the middle man for trading, like theres computer stores, but they still have to buy supply with USD, so they sell off anything thats not profit, and skim some coins and then that just holds the value to whatever USD is able to buy. I said it before and above, we need services and work done that doesn't require products made elsewhere and bought or bartered for. Having people pay amounts of Bitcoins for labor or services will be what gives it strength. I don't think it bitcoins are in danger of failing, as much as stagnating. If anything they'll lock more to 1:1 with dollars or euros for a while until the mining cuts in half in the next year. The supply won't be as stressful then against the demand, then things will be for the better. It really should have never gotten that high, but where it is, I'm actually comfortable with it for the moment, it's not insanely inflated, and it's not dollar for dollar with other currencies. It's maintaining the cost to produce, which is fine until we get the above said services and utility from it for changing hands. |
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| Nov 28th 2011, 11:22 Cecil Niosaki |
Re: News Story: DMC: October Financials & Dividend | |
| How are bit coins doing now? :) | ||
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| Nov 28th 2011, 14:17 Smoovious Laxness |
Re: News Story: DMC: October Financials & Dividend
Edited by author Nov 28th 2011, 14:18 |
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| the value of BTC has dropped significantly in the past couple/few months. right now, the 2 exchanges I folllow have the price fluctuating around the US$2.30-2.50 range, give or take. while this may not be ideal for mining, I have been day-trading BTC through these fluctuations and so far, I have been making a profit, as far as BTC balance goes. on a positive note, BTC was featured recently on Fox News during the Freedom Watch show, and they covered what BTC is, and its potential, very well. if this sparks more interest in it, we may find more firms start to accept BTC, and with the increase in retailers accepting BTC, demand will increase, and the value should start picking back up again. this is what I am day-trading it for, so I have more BTC when it does start to climb again. DMC may want to consider trading some of the BTC's it has been generating as well. -- Smoov reference: the exchanges I follow are TradeHill and Mt. Gox |
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| Nov 29th 2011, 06:40 Sekioh Sachs |
Re: News Story: DMC: October Financials & Dividend | |
| I don't like that at least Mt.Gox had inflated fee rates if you do only small transactions or your first few until you have a higher trading volume total. I haven't considered trading as I never mentioned it in the company prospectus. We can see about a vote about trading, but from my standpoint I don't have much trading experience in that day-trade sense and unless we get a board of 2 others to develop a sort of plan and consensus for how to trade, I don't want to risk other peoples investments without a solid backing of confidence. Bitcoins actually are doing pretty well this month so far, last month was a down trend continued from previous months, but in the 3 weeks of this month it has been creeping up and fighting, today a few people must have placed a few big orders at least since price hiked up in a spike and but have been positive for about 48 hours now. |
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