Bitcoin Forum

AJM.MINING is now live!

Grab some bonds here: https://www.litecoinglobal.com/security/AJM.MINING
View the miner's stats here: http://ltc.kattare.com/ajmmining.php

PENDING CONTRACT

AJM MINING'S PERPETUAL MINING BOND

CONTRACT

1. BOND TERMS
Each bond currently represents a MINIMUM of 1Kh/S ongoing Litecoin mining power.
All bonds sold are free of any maintenance, administration, or utility fees.
Each bond will pay 100% of its earnings on Sunday of every week.
Each bond sold is perpetual and does not expire.
To insure the bond remains viable in the future the issuer reserves the right to increase the minimum hashing speed each bond is worth at any time.

2. GROWTH FUND
An amount equal to 25% of all paid dividends will be held in AJM Mining's growth fund.
Once there are sufficient funds available in the growth fund they will be withdrawn and used to purchase hardware to increase the hash rate each bond is worth.
The issuer will make all final decisions on hardware to be purchased.
Additional hardware will be set up and maintained by the issuer.
After new hardware has been purchased and set up, each existing bonds minimum hash speed will be increased by taking 45% of the aquired hardwares average hash speed and distributing it equally to all bonds available at that time.

3. ISSUING NEW BONDS AND BUY BACK
The issuer reserves the right to release additional bonds at any time.
The price of newly issued bonds can not be lower than 10% of the lowest traded price from the previous 2 weeks.
Each bond sold will always always represent a minimum of 1.25 times the existing hash speed available to back them.
The issuer reserves the right to buy back the bond at any time at a price equal to 1.05 times the highest price a bond was traded for on LitecoinGLobal over the previous 2 weeks.

Reserved.

I'll take 10 bonds. That means I get 1000% of all earnings.

Nice catch ;) thanks for pointing that out.

AJM.MINING is now live on LitecoinGlobal. I have release 250 shares at 80 LTC each. The other 250 will be sold at 85-90 each.

The first dividend for AJM.MINING is schedule for tomorrow (9/30/2012 11:00 MST). As a special thank you to early purchasers who are investing in this bond I will be doubling the dividend for each bond sold before the time of payout tomorrow.

Picked up some shares.

I've been contemplating setting up a special mining product on the ltc.kattare.com mining pool.  You can see on there how I have special pages setup for LTC-MINING and LTC-MINING.LTC.  I think in exchange for a permanent 1% donation (set in the account settings) I'd be willing to setup a similar dedicated page for other mining operations.  It's a pretty good way to deliver transparency to your investors.  Just a thought.

In any case, best of luck with your new asset.  Take good care of your bond holders.  :)

I think that would be a great idea. Let me know if you decide to implement it and I will definitely participate.

Thanks for the well wishes and the investment (and really all you have been doing for the LTC community). I'll be sure to take very good care of all of my bond holders.

9/23/2012 11am - 9/30/2012 11am   
Diff.            Hours @ Diff.         LTC / Bond                     
9.76439             58            0.248940478446
11.06468             84            0.318165489648142
11.0927             26            0.098231035876447

Total / Bond                    0.665337003970589                        
Total / Bond x 2                1.330674007941178

Dividend Paid:                    1.33094014 / Bond

The rig for AJM Mining is currently hashing on burnside's pool. Information and stats about the rig can be found at:

http://ltc.kattare.com/ajmmining.php

Big thanks to burnside for providing this feature. Hopefully this is a feature that all issuers of mining bonds and mining shares will find useful to provide some transparency on their mining operation.

A motion to change the current contract has been raised. Please review the changes and submit your vote by 19:00 10/08/2012. Since this affects all current bondholders I am requiring that it passes with a 100% vote.

AJM MINING'S PERPETUAL MINING BOND

CONTRACT

1. BOND TERMS
Each bond currently represents a MINIMUM of 1Kh/S ongoing Litecoin mining power.
All bonds sold are free of any maintenance, administration, or utility fees.
Each bond will pay 100% of its earnings on Sunday of every week.
Each bond sold is perpetual and does not expire.
To insure the bond remains viable in the future the issuer reserves the right to increase the minimum hashing speed each bond is worth at any time.

2. GROWTH FUND
An amount equal to 25% of all paid dividends will be held in AJM Mining's growth fund.
Once there are sufficient funds available in the growth fund they will be withdrawn and used to purchase hardware to increase the hash rate each bond is worth.ncrease in each bonds minimum hash speed will be equal to 60% of the new hardwares average hash speed distributed evenly to all existing bonds at the time of withdrawel from the growth fund.
The issuer will make all final decisions on hardware to be purchased.
Additional hardware will be set up and maintained by the issuer.
After new hardware has been purchased and set up, each existing bonds minimum hash speed will be increased by taking 45% of the aquired hardwares average hash speed and distributing it equally to all bonds available at that time.

3. ISSUING NEW BONDS AND BUY BACK
The issuer reserves the right to release additional bonds at any time.
The price of newly issued bonds can not be lower than 10% of the lowest traded price from the previous 2 weeks.
Each bond sold will always always represent a minimum of 1.25 times the existing hash speed available to back them.
The issuer reserves the right to buy back the bond at any time at a price equal to 1.05 times the highest price a bond was traded for on LitecoinGLobal over the previous 2 weeks.

Would be nice if you had pictures of your mining operation so we know you are actually doing what you say you are doing.

Pix or it doesn't exist. :D

The mining's coming from somewhere....   :D

Thanks for confirming. I must have missed that post.

I will also be posting some pictures of the rig soon. I ordered a new battery charger for my camera yesterday and it should be here Monday or Tuesday.

9/30/2012 11am - 10/07/2012 11am
Diff.                   Hours @ Diff.                           LTC / Bond
11.0927                   53                           0.200240188517373
11.6562                   74                           0.266064769965054
13.22001                 41                            0.129976463646145

Total / Bond                                              0.596281422128572
Total / Bond x2                                         1.19256284

Dividend Paid: 1.19256284 / Bond

The motion to add a growth fund to the mining bond has passed with 33 "Yes" votes, and 0 "No" votes.

I suspect that in most bondholder/shareholder motions you need to get at least 50% of the bond holders to approve, not 50% of the voters to approve.  You essentially have to treat a non-vote as a "NO" vote.  You're going to have to drum up some more voter support!   ;)

10/07/2012 11am - 10/14/2012 11am            
            
Diff.              Hours @ Diff.               LTC / Bond      
13.22001                41         0.129976463646145      
13.58032                71         0.21910938948174      
16.01879                56         0.146511246271826
      
Dividend Paid:  0.49559709 / bond

Important updates:

The proposed change to the contract DID pass this time. Thank you all for voting.

Dividends have been paid per the contract. More information can be found here:

https://docs.google.com/spreadsheet/ccc?key=0AijqHDhq-O1zdEMtQks4SHdMcVUzY3BsRG5aanFpQ3c

I have decided to retroactively pay out to the growth fund as can be seen in the above link.

Sorry for the late updates, I have been crazy busy with work and other personal obligations.

Awesome, glad it passed!

Updated it in the database for you.

Cheers.