Bitcoin Forum

What I'm envisioning is a company listed on GLBSE that does the following...

Operator sells 49% of company in IPO.

Funds are used to purchase mining equipment, whatever is available at the price equal to what the shares sold for (or to wait in line with BFL).

All mining goes into wallet that is publicly visible (address is known) and is considered an asset of the company, along with the hardware.  The wallet is offline only and backed up appropriately.

At such time when a sale of 50% of the wallet would yield enough $ or BTC to purchase more equipment (another ASIC, for example), 50% of the wallet is spent on more hardware.

This is designed to last in perpetuity, however, should the majority owner decide to close up shop, he sells equipment for BTC or $ converted to BTC (into publicly visible wallet) and divides the wallet among shareholders.

Anything out there like this?

I would sell 49% stock of my bfl single right now. I only have one, and it'd be a long time before it generated enough to purchase an ASIC upgrade on it's own, especially since once(if) ASIC comes out it'd be all but useless other than trade in value. But I would be open to handling more deposits to cover immediate purchase of ASIC single(s) when the time comes. I wouldn't want to use glbse because what is the point. It's more risk than benefit from what I can tell. I have coins on deposit with starfish bank that I'd be willing to use as backing. IE I would agree not to withdrawal my obligations and give Patrick permission to pay out investors my deposit in case of default. I'm short of time right now and heading out the door, but this is somehting I've been considering for a while, just need to iron out the details.

You can create the contract in whatever manner you want.

Now whether anything that doesn't pay any dividends whatsoever would garner a decent price for you, I don't know.  I'ld bet not though.

Why pay dividends when that artificially limits your rig upgrades?  The wallet and existing rigs are the assets.