Bitcoin Forum

  


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How can we be sure you are not going to make a run for it  ::) ?

What are your plans for the expansion and growth of this operation?

MAN, Bitcoins will rise to $100 very damn soon. No need for none of them "plans". Plans are for idiots we trust in bitcoin price rise to bring us the godly $$$ ;D

I am interested and like the approach you are taking, particularly the significant shareholder voting you intend to utilise.

Together with regularly maintaining the identified spreadsheet and text files, please ensure that the vote text and results are made fully public as soon as possible after each vote - this will help to build my perception of how trustworthy you are (your post count is far too low at the moment).

Once I have seen a sufficient amount of this, I will make my decision to invest.

What's your contingency plan if not enough shares are sold in time?

???

What price would the new shares go for? 0.1 BTC, the highest bid, the lowest ask, the middle, or something else?

What is your relationship with the website bitcoincharts.com ?

this is links to GLBSE.com owned by nefario how are you going to make it look nice?

What mining pool or pools are being used?  Do you have plans to use merged mining pools, especially while the Namecoin difficulty is still low?

Shouldn't your weekly reports begin with ? Besides that, you're still the most documented mining company that I have seen.

The Most serious business on GLBSE.
Nice!

Hi.

How many shares in the market now? 

Spreadsheet shows 2254 shares. 

Is the objective still 1 share = 1 Mhash/s?

Thanks.

You should consider moving to a merged mining pool.  With the current bitcoin difficulty of 1,468,845 and namecoin difficulty of 94,036, in the time it will take you to mine 1 bitcoin, you will also mine 15.62 namecoins, which you could sell for 0.41 bitcoins, a 41% increase in yield.  With the current USD/BTC exchange rates so low, merged mining of namecoins could mean the difference between turning a small profit and barely paying for utilities.

Dividends on the GLBSE get sent to a shareholders (except issuer) account on GLBSE. You should be able to view it in the history.

Running at 91C is not healthy, at all.  Neither is running the fans at 100%.  I'm hoping the other cards aren't running under similar conditions.  Better than 80C and 85%, for 24/7 is a good goal.  The rigs should be ventilated better/differently to allow for even cooler temperatures.

I plan on purchasing some shares, just want to ensure that the equipment is here to last :)

Hey, i've bought some shares and I'm very interested in this project.

But why did you order 4gb of ram for a mining rig, 1/2gb should be enough.
This would result in a lower consumption.

regards, talpan

thx for clarifing this,
and is there a way to see how much shares are arvailable?

Another 20 shares coming your way.

  Not a current shareholder but i'd like to say I like what I've been reading.  Mostly just from the point of the very transparent nature of your daily operations. It is very refreshing. I see you are struggling with some things but keep it going like you are and all will be awesome!!


   Cheers,
    Derek

What size PSU are you in need of?

Will save you a few bucks anyhows;
  http://www.newegg.com/Product/Product.aspx?Item=N82E16817194092&nm_mc=OTC-Froogle&cm_mmc=OTC-Froogle-_-Power+Supplies-_-Enermax-_-17194092
Review; http://www.hardocp.com/article/2011/09/06/enermax_platimax_1200w_power_supply_review/8

 Antec HCP 1200 - Recommended. 99% max wattage available to 12v rails. Over 88% efficient at ~1200w
  http://www.amazon.com/Antec-HCP-1200-Energy-Certified-Supply/dp/B004DBA2O6
Review; http://www.hardocp.com/article/2010/10/24/antec_high_current_pro_1200w_power_supply_review/

 Edit; max load ripple reads for Antec; http://www.techpowerup.com/reviews/Antec/HCP-1200/7.html

 Corsair Ax1200; 85% Eff at 1186 DC W, amazing low ripple. 3 reviews all listing it <30Mv


I'm still partial to the Antec with its mammoth available juice to the 12v rail and overall efficiency.  And, these guys here selling one for $215 +shipping is insane; http://www.amazon.com/gp/product/B004DBA2O6/ref=sc_pgp__m_A5YB1DFQD8C8M_3?ie=UTF8&m=A5YB1DFQD8C8M&n=&s=&v=glance

  I edited in another link on Amazon there for one even cheaper. I did not look into the listing company though.

Yea, I have a HCP-1200. It's a beast of a PSU and runs cool and quiet

And your other requirements to get the other rig up and running?

$400 for case fans! Jesus! Are you buying nocuta's or deltas?

I just now saw this thread and I like your transparent operation. 

I noticed that you are having trouble with people undercutting the IPO shares that you are selling.  One way around that is to ask people to buy directly from you and then use the transfer option in GLBSE to send the shares.  The buyer would have to send the BTC to an address that you choose, and once the transaction is confirmed you could use the transfer option in GLBSE to send them their shares.  While it may be cheaper for the investor to buy the shares that are undercutting the IPO shares, it probably makes more sense to buy directly so the BTC actually ends up the the hands of the business.

Can't we just put in a buy order and for the "Enter the price you are willing to pay" just enter 0.25 ?

I believe even if someone states they want to sell their shares for 0.25, they are placed after the IPO's shares...since they were posted first.

I think what you are entering is the maximum price you'd be willing to pay, so it would buy the 0.24 shares first.

Well, shitty...just went through my Market History, and have paid 0.25 for all shares I own.  Makes me feel a little bit better, but the undercutting when all the IPO shares aren't all consumed is kinda sad still.

How does this happen? Are your fan speeds set to an auto setting? What are you using for overclocking?

I must be missing something...the fan died? or The fan slowed down when it stopped hashing and didn't speed up in time as the card started hashing again causing it to overheat?

  CGminer should tweak that a bit so the fans don't go from 0 to 85% instantly. It should gradually, over the course of a few seconds get them up to max. That would've helped atleast a bit in the case.

Oh! okay, I get it now. I don't use CGMiner, didn't know this was possible.

I'm not positive but, shouldn't you keep your fans at a static speed? If you have a target temp set for a fan control, wont the fan speeds be constantly changing? Wouldn't the constant variance in speed wear your fans faster?

I know from watching my cards with a static fan speed that the temps often dance around +/- 2°C. I would think that this would cause your fans to be constantly adjusting +/- 500-1000 rpms which would wear heavy on the fan.

Spreadsheet hasn't been updated in a few days.  Dividend from Sunday wasn't paid out.  Replacement 5970 was supposed to arrive on Monday.  What's being done about the 2nd down'd 5970 ?  Haven't seen a post from you in a bit, just wanting a status update with how things are going, as well as other shareholders I believe.

Thanks

How much wattage do you need for the power supply for rig 2?

  I forgot all about you discussing the new psu. How much more fundage do you need to get it? Still not a shareholder but that would be a good enough reason to go grab a few up.

Any updates?

Last Active:    January 03, 2012, 09:15:28 PM

Can you please provide us with an update ?

Thanks.

MergedMining is almost similar to JLP-BMD so after buying shares in MM i researched JLP-BMD and bought some shares.

hopefully we see regular dividends from the end of January

thanks !

Excellent  :D

Awesome !

Thank you tremendously for the update :)

Thank you for the update!

Just curious, how many shares have sold?  I'm just trying to figure out how many shares of the 8001 issued are receiving dividends. 

I'm having GLBSE issues that I hope Nefario is looking into. I would invest once that is remedied.

nice

hey guys, I'm relatively new to JLP-BMD, bought some shares a while back and I think this is the first dividend payment I received.

Is this some kind of accumulated payment? It says in OP payments will be every Sunday, which was clearly not the case.

What kind of payments are to be expected for the future?

There was some downtime from mid-November to the end of January.

i think after this huge dividend payout, we shall expect regular dividends on Sunday of about 3 or 5 BTC

when will you pay dividends for sunday today ?

no dividends for Sunday? what happened ?

I dont understand , can you explain more please

when you pay dividends for today ?

thanks

1. how much will the dividends be tomorrow ?

yes, you should obtain BF Single , would vote for it

if you pay regular dividends like MergedMining yes.

I am hoping your dividends is like MergedMining 5 BTC, since your g/hash is more than MM.

once i am confident that there will be regular dividends each week, then i will buy shares direct from you.

Wow, that was the fastest motion to accepted vote that I've ever seen.  The vote was open for just under an hour, so I'm curious how we accumulated so many votes in that time.

While it may be a good idea to add some FPGA's to the rigs, how long would it take to get these even if we had the funds?  They've just now barely started shipping the first orders that they promised months ago.  We may want to look at other FPGAs that are out there - even if the BFL singles are the most efficient, it doesn't really matter if we can't get them for 6 months.

It takes only a few shareholders with largish stakes.

marked

Well obviously.  I was more wondering if the unsold shares were included in the vote and voted yes as that would partially explain the quick total.

glbse.com is up and it doesn't look any different to me.

new version has been delayed, and though I've logged in I can't get anywhere. it just sits at refreshing.

marked

Nefario just kicked something into touch, and now I can see the dividend received but:

39682   0.0011715 BTC   dividend   N/A   JLP-BMD   27/02/2012-16:33
39742   0.0000000 BTC   dividend   N/A   JLP-BMD   27/02/2012-16:36
39802   0.0000000 BTC   dividend   N/A   JLP-BMD   27/02/2012-16:36

marked

Just the one at the moment, will be buying more at a later time.

marked.

i plan on buying some shares, under 100, though.

[edit] now in with 40 shares

Can someone explain these kinds of announcements?

The most likely explanation I can think of is that the person really wants to sell and drive the price up a bit. That's just plain childish, being dishonest like that.

The other explanation would be he really wants to buy. Why tell everyone? Maybe the person is so excited in anticipation of his purchase that he just has to tell everyone and neglect the fact that this might even result in a less favorable price for him?

Am I missing an alternative explanation?

btw, @gewure: I put in some quite competitive orders on both sides of the market for you to take. They should satisfy your volume needs. The market is made, now get on with it ;)

Bitcoins are new, the community spirit is strong, for most people this is more about having fun together than about turning $5 profit.

lol. just before he asked if somebody wants to buy shares. indeed, i want to, and that is what i have done.

im also not amused by the price dropping instantaniously after i bought my first shares, but ..jesus, dont blame it on me! if i say i buy, i buy!

a fixed sum, or a fixed percentage?

everyone seems to have voted yea, but there is no clear idea as to what they are actually voting for.

marked

I'm not sure I see the need for a consistent dividend if its going to be slightly less than the total possible dividend, but if it funds future expansion thats cool.

you are buying back shares with your own BTC or company BTC ?

ah ok, then you should say "I (ceo) started to buy more shares for myself"

instead of saying the 'company' is buying back shares.

Why are you buying back shares?

ok so you are mixing your btc with company btc , and mixing your shares with company shares ?

I think you need to take out those shares that you bought with your own btc , that is currently in the company glbse account and transfer them into your personal account.

If the company is buying back shares, the company will buy back with its own btc, so far no one voted for that. But from what i understand is that you bought shares with your own BTC and put it in the company account.

Either you can donate and hand them over to the company or transfer them into your own personal account

JL421, just a thought: maybe you should change the thread title.

Who uses Linked-in anyways?

I'd say as long as difficulty is looking to be stable (it's decreasing a bit today), and the lead time on BFL is so extreme, stick with GPU for atleast another round of growth.

my 2 bits
cheers

nice :) things are good now  ;D

aye, looking good and we started chipping away into the recently released shares.


gogogogo.  ;p

The dividend of last week doubled from that of the week before last week. Since the difficulty does not change much, is the increasing caused by just random number factors, or that you've already upgraded some of your hardware? Thanks.

I'm interested in investing in your mining operation as it seems to be well run, and progressing, but I guess I'v just tried to read too many posts in a short amount of time, so Iv got a few questions. There are a total of 8000 shares correct? I'm also pretty sure I read that dividends were paid out every week or so, and that average dividend per share was .003 BTC or so? Like I said I may be misreading with haste, but does anyone have any feedback on their experiences with JLP-BMD? Also, what is the current MHash that the setup is getting? Going through the posts, Iv seen about 10 different figures, which makes sense as more equipment is added, I'm just not sure what the current figure is.

I've been a shareholder since November, and my experience with the company and JL421 have been great.  JL421 has put a lot of effort in to this and kept things going even during some rough times with hardware failure, etc, even to the point of throwing his own money in to paying dividends.  As you can see, he is fully verified on GLBSE and I feel he is trustworthy.

Well, I bought in. I'll buy more as soon as a few of my other shares sell. I'm wondering, the 2000 shares that are for sale right now, were those someones private shares? Or were those just released to fund more rigs?

I wanted to ask why your dividends in April are THAT high - you paid ~130% of PPS value as dividend, by far the most dividends per MH/s of all mining assets I'm currently monitoring. After digging around a bit on your spreadsheet it seems that it mostly comes from sold mining contracts though. Good work on that! :)

Just a pity that shares are that expensive currently... Well, I guess I have to wait and see.

Bought in, keep going!

I'm a little confused, so I clicked on the verifiable income link, and it says there are about 7BTC, and dividends were just paid. How did the rigs manage to mine so much in so little time?

Great. Do you have longer-term plans to further reduce the electricity cost and keep the mining farm expanding?

I guess it won't be hard to pass motions on issuing more shares to buy new Rigs, because it's nearly always a good thing for existing shareholders.

With the electricity cost, in fact I'm asking that if there's some discount from the electricity company if your electricity consumption exceeds some threshold. If so, we can work out a plan to make use of the discount.

When the motions are put into place, are they via GLBSE, or do you have a separate website where you vote? And is there any news on the plans of purchasing a 7990 when they come out?

Great, does this mean we will have Rig 3 running with at least one video card, within a week? :)

So whats the projected GHash by this/next week?

Great, waiting for your other two cards. :)

I like the progress, its been a pleasure working with this company. I'm in the process of seeing what I can do about buying more stocks.  ;D

Any idea when this weeks dividends will come in?

Indeed, I just noticed that they haven't been released yet  ???

JL421 is one of the most trustworthy issuers on GLBSE, so I wouldn't worry much. He probably has something else to deal with, it's a one-man enterprise after all.

If there really is a problem, Nefario usually intervenes and actively tries to resolve the issue.

EDIT: Guess I was a bit late to reply. :)

Great to know this. Thank you.


We disclose that we are behind both of these. :) In fact everybody could see from our financials about the first one.


It's OK. But could find some trustworthy guy when you are absent. She/he doesn't need to do too much. Just paying out the dividends in time would be a very good thing to us.

There are two 20.153453 BTC payments today. Could anyone explain it?

In fact I'm enjoy your timely and regular reply more.

Hope you could keep being more active than the last several weeks. ;D

bug glbse to recall it ;) or skip on the next one. you shouldn't pay double for such mistakes

I have no problem with that.

Agreed.

Sure.

We are also OK with it.

So no following motions about Lancelots vs 7990's? :D

But anyway, after all BTCs are finally spent to buy hardware, whether they are newest FPGAs or newest GPUs, the MH/BTC of JLP-BMD will exceed all existing mining assets.

The only concern is the high consumption of electricity of video cards. Now it seems that the electricity fee is compensated with GPUMax, but >100% PPS pools will not last forever.

So last week there's no additional income. ::)

The payment of this week is supposed to be today. Hope you could already make a more regular weekly updates from the last update.

And to AMD: where are our precious 7990s? ;D

Any update on Dividend payouts?

The price has taken a tumble on this lack of information.
Very poor behavior from the owner of JLPBMD

Don't worry he will pay soon enough. No need to jump all "scammer" on him, mind you !

Can't possibly imagine how this would be a scam ...

I wasn't so much saying scammer as I was saying there is more to running a business than selling shares and mining.
PR is important.

Sure, we are trying to do fair business here, so I think I can speak for most investors if I say that we want you to succeed and make a good profit for your own operation.

Nice to see JLP-BMD once again paying dividends. ^^

What will you be doing wrt to the ASIC situation ?

some percentage of the earnings should be kept to hedge JLP-BMD against bitcoin price volatility. put aside, to be decided what to do with it later.

i suggest 50% of earnings into savings

Dividends are late again? :(

Could you please use some of that time to keep us updated? Thanks.

Very very nice, thanks for the update! Keep up the good work :)
I wish you all the best with your marriage :)

Where are the consistent dividends that made me love JLP-BMD? :(

Thanks, much appreciated!

With a BitForce Single SC upgrade order, and possibility of another one once they are released, this asset seems to be a bit undervalued. Am I missing something? What do you guys think?

So what is the backup plan for raising the funds?  JLP-BMD hasn't traded anywhere near 0.25 BTC since the beginning of June.  It looks like someone will have to buy up over 1000 shares before we get there again.  At least at 0.10 BTC we had a shot at actually selling some of the shares. 

 

Well, selling at 0.25 now seems hard as the market does walue only mhash/s and not really that this is a company backed with real HW.
Selling at 0.10 would dilute actual shareholders share ... so I personally would prefer a way where current shareholders would pay for the new HW ... but with GLBSE not providing a way how to prove who own what ... that's difficult ...
So if we don't sell at 0.10 it seems that an option could be a loan and use dividends to repay it ... but if we need 180BTC it would take some 25 weeks ... but that's 1/2 year and not taking into account reward halving and ASICs coming ... seems not viable solution ...
I would still prefer to have an option to buy a number of new shares at 0.1 which would reflect my actual share in the company so it stays the same

Well there are 2 problems with this ...
1) There is 500 shares offered below 0.1BTC
2) We invest in BTC ... so you can't measure it in USD

Okay, I don't think JL421 will just run away, but a status report is long overdue.

Just to clarify, how many shares do you hold and how many are outstanding total?

Also to clarify, you'd be paying out the 65 BTC plus whatever else is mined divided by the number of shares, plus 5.8 BTC divided by the number of shares for the next 52 weeks (after you receive the shareholder list)? 

For what it's worth, the mergedmining thing ended up being a huge mess and they are in the process of liquidating.  I'd personally rather have the buyout if I'm understanding it correctly than have the operation sold to someone else.

How many BTC have been mined while GLBSE has been offline? Will we receive one big dividend for that?

So everyone waited 2+ months to get this list, and now that you have it - you are going to give people 7 days to reconcile?  While I understand your wish to close this thing down as quickly as possible; I think you might want to reconsider. From an outside perspective it looks like a simple share/cash grab.  I know several other issuers are waiting 60 days before doing anything like this.

I only point this out because I 'checked out' of the whole GLBSE & Bitcoin forums after about 3 weeks of watching the sh*tstorm.  I loaded up my coind client just 3 or 4 days ago to discover I had received an eighth of a coin, 2x from an address I didn't recognize.  After trying to get caught up on the forums, GLBSE blog posts, etc, I was just last night able to get in touch with GLBSE.  I sent back the double payment and am waiting to get added to the issuer list.

So if I had been travelling this week, or if I had not decided to upgrade my PC (and thus necessitating the blockchain synch and wallet backup prior to the upgrade), I would not have found out about this at all. Other people may have similar circumstances, or circumstances that end in a similar result.

Certainly one can argue that's my tough luck, I should have been following my investments, blah blah, and that's all fine and dandy, but what's the harm in waiting another 30-45 days before pulling in other people's shares?

Couldn't agree more, well said!

I never received any email. From you, GLBSE, or any other issuer.  I submitted my claim information the same day (possibly withing 36 hrs) that the [sane/v2.0] claims process was put up on GLBSE.


Again - No email here.  I'm assuming it's because I didn't refund the claw-back until earlier this week.  From what I'm reading it appears Mr McCarthy is holding email addresses hostage for those clawbacks. Does this message constitute me contacting you?  Or is there some other requirement for 'contact'. Please inform so I can follow the process.
Also - to be clear - You didn't see me complaining - Just advising you as to how it looked from my optic.  I cared enough to submit my claim, but then didn't care enough to stand around and watch the next 6-8 weeks go by.  Like I said - call me lazy or whatever, but I felt like there were others in my position who might be similarly affected, so I thought I might throw a bit of advice against the wall and see if if stuck. Do as you will, I cannot change you.

That's a red herring.  You've offered exactly 7 days to make a claim.  Again - I can't change you dude, and I'm not trying to.  Just pointing out how it looks.  It looks like a cash grab. Do as you will. 

> As disclosed in the original contract, I will be repurchasing all shares at 75% of their last traded value.

> As soon as I receive a list of shareholders I will begin dispersing out 5.8 BTC weekly as a dividend split between all shareholders, except myself, until all outstanding shares have been paid off. At that rate the total value should be paid off in exactly 52 weeks.

From forum page 1

> 6)In the event of terminating the company and liquidation of its assets, after payment of the organization's creditors and/or expenses, the shareholders will be paid all remaining liquidity, divided equally among shares. If that is not enough to buy back all remaining shares, shares will be bought back at the price the share was trading for when the company ended.

Can you please clarify this?

Also, did it state in the original contract that shares would be bought back over 52 weeks?

Possibly a term a little longer than a week might be a good idea. You don't have to hold on to them for a year or anything, but people do occasionally get buried in. How's a month sound?

It actually looks like the approx 70 BTC mined was split amongst all 8000 shares.  69 BTC/8000 shares gives 0.008625 per share, pretty close to what we got.

Looking back a few pages in the thread its apparent that all 8000 shares were receiving dividends then too. 

Haven't seen a payment in a couple weeks.  Just wanted to make sure this is still proceeding as planned.

Any updates? I only received the one payment on 8 January.

This

Repeated request.

Has anyone tried contacting JL421 by email?  He hasn't been active on the board since January.

well done, may they stick in your greedy throat

Fuck you. You miss every single fucking "weekly" payment and now you think because the price has risen so much that ~9 BTC is enough? _You_ missed your payments, so it's _your_ fault. I understand you cannot pay the full 231.7875 BTC, that would be insanely unfair after such a rise. But if you had kept your word, and made your weekly payments, we would have already gotten WAY more than the measly 9 BTC you paid out.

I cannot understand why we should we "pleased" with this. You didn't say a word anymore. Didn't reply to our request for updates/payments, and now we should be pleased with what we got? Had you just kept your word and sticked to your plan with 4.4575 BTC weekly payments, after only 3 weeks we would have gotten more than we got now.

What are you expecting to find out?  He sent out a final payment around April 9 and shut the company down.

.. and ran with my 11 bitcoin?

i have not been contacted of whatsoever. i have still alot to claim from this.