Bitcoin Forum

http://www.greenbtc.com (http://www.greenbtc.com)
GreenBTC Making the Bitcoin Green!

We are a mining company listed on GLBSE.

GLBSE Ticker: GREEN

Chart: https://us.glbse.com/asset/view/GREEN (https://us.glbse.com/asset/view/GREEN)

GREEN Shares at Issue: 10,000



Server Stats: http://p2pool.greenbtc.com:9332/static/ (http://p2pool.greenbtc.com:9332/static/)


Current Mining Power 1.2 GH/s

GreenBTC Books https://docs.google.com/spreadsheet/ccc?key=0Ak1NqDefdzk2dDRTVXU3ZXJvQTgtUm1jcXdFQk1hRXc#gid=1 (https://docs.google.com/spreadsheet/ccc?key=0Ak1NqDefdzk2dDRTVXU3ZXJvQTgtUm1jcXdFQk1hRXc#gid=1)


Account Balances: http://www.greenbtc.com/account-balances/ (http://www.greenbtc.com/account-balances/)

Assets: http://www.greenbtc.com/assets/ (http://www.greenbtc.com/assets/)

Bylaws: http://www.greenbtc.com/bylaws/ (http://www.greenbtc.com/bylaws/)

Insider Trading: http://www.greenbtc.com/insider-trading/ (http://www.greenbtc.com/insider-trading/)

Mining Payout: http://www.greenbtc.com/mining-payout/ (http://www.greenbtc.com/mining-payout/)

Mining Rigs: http://www.greenbtc.com/mining-rigs/ (http://www.greenbtc.com/mining-rigs/)

Operating Expenses: http://www.greenbtc.com/operating-expenses/ (http://www.greenbtc.com/operating-expenses/)

Security: http://www.greenbtc.com/security/ (http://www.greenbtc.com/security/)

FAQ & Questions

---

1. Will you verify with GLBSE?
I plan to verify all 6 forms of ID with GLBSE.

2. Why is your IPO so far in the future?
Two Reasons, I want to get the power cost reduced by Home Built Solar system. I also will be completely Disconnected from ALL forms of communication July 20-27 not by choice(aka GF said no laptops,ipads,phones during vacation)

3.Why are you going to use solar power?
Because I have a connection with a 30 year leader in the solar industry.

4. Are you going to use FPGA?
NO

5. Do you own both sites that store the mining rigs in California and Arizona?
Yes & No, They are owned by a trust fund that i'm the sole Beneficiary.




Please Ask anything

Better reserve a ticker symbol! ;)

/watching

Ticker Symbol :GREEN
 ;D

Contract updated, GREEN asset and IPO listed.

Website Down this morning, Webhost contacted.
Website Back up

I only use Windpower, so i am a ECO miner too 8).
Good luck with your ECO mining farm.


Greetz

Hi RandomQ,

What will the initial share price be on IPO release?

Is there a pre-IPO sale?


Greetz

Taken from the website Bylaws:

The CEO will have the right to purchase future shares @50% Current Market Value.

Clarification of what this means please.

Initial share price will be .01 BTC

As of right now there isn't going to be a pre-ipo sale.

Since the issue future shares is set at 81%, and I can't sell more than 1% of my shares per week and I take no salary.

I would like to reserve the right to purchase any future shares issued at 50% below market value.

I will rewrite that section to make it more clear, thank you for pointing that out.

I might be switching the IPO, to an auction style where only 500 shares a week will be sold till all the shares are sold.

That way I can do a soft opening and show that the company can provided on time payment.

I will updating the balance sheet today with the GPU's that we have purchased.

I'm also going to change the rigs that are currently free leased to company owned.

Also I'm throwing my ipad into the company, to add a little more value to the assets. lol

I've been really busy this past two weeks trying to raise funds for adding solar array #1.

I changed that line in the bylaws to read.
"The CEO will have the right to purchase future shares Issued at 25% below 30 day average sale price"

How does this sound? Better solution?

Same problem, I'm afraid.

I'm not entirely clear on the point of that clause in the first place. Why exactly should you have the right to buy future shares under market value?

Ok, let me see what the other assets do and we will most likely just get rid of this.

Some have a small operator cut of profits, some just have the allowance of shares to the operator.

Some only issue a percentage of the company value (and thus profits) on GLBSE in the first place.

Most buyback clauses specify market plus a percentage, not market minus a percentage.

It wasn't a buyback clause I was trying to do,more of like an CEO stock option.

But Never Fear I have removed it from the bylaws.

I also did some minor tweaks.

Payout is now
50% Growth
40% Dividend
10% Operating Cost

I think all excepting TYGRR-BANK, which was a special case. (and not a mining company)

Going to start selling shares every Sunday to the highest bidder. First sale will only be 1 share out of 2 issued. So the lucky bidder will get 50% of this dividend payment.

Also added a google doc spreadsheet for all the accounts/income,etc

https://docs.google.com/spreadsheet/lv?key=0Ak1NqDefdzk2dDRTVXU3ZXJvQTgtUm1jcXdFQk1hRXc (https://docs.google.com/spreadsheet/lv?key=0Ak1NqDefdzk2dDRTVXU3ZXJvQTgtUm1jcXdFQk1hRXc)

So you aren't using FPGA, are you using GPUs or ASIC? What kinds (models)?

Using GPUs ,XFX 5770 because the power requirement works very well with the solar system that my CTO helped me design.

Strange way of doing it. It will still start on August?

You second largest asset is a completely useless slab of shiny plastic with a half eaten apple as a logo?
Why not buy another card for your rig?
http://img51.imageshack.us/img51/9291/snapshot77green20120603.png

Nope

First share is going to be sold today(sunday)
Next week most likely 8 shares are going to be sold.
and slowly ramp up the number of shares each week

How did I miss that one!? I even searched for a "pad"   ::)

At what time?

Sunday (22:00 UTC-8) or Monday(01:00 GLBSE TIME)

6/03/2012
Total Mining Payout this week : 4.35 BTC
With 1.3 BTC going to the dividend fund for next week.
With 2.17 BTC going to the Growth Fund.
With .43 BTC going to the operating Fund.

2 Shares issued Total with 1 going to a lucky buyer (not me)
Dividend payment 0.605 per share

Shares to be sold next sunday (8) to the highest bidder
Sunday (22:00 UTC-8) or Monday(01:00 GLBSE TIME)

In earlier post you said shares will be sold @ 0.01 and in a PM to me you said: but first to the highest bidder.
Isn`t 0.36 for your first share sale unfair? Or are they definitely worth it?





Greetz

They are being sold to the highest bidder.
First share sold for .36 and first dividend was .605 so 160% return on investment in one day for that share holder. The market is setting the price on these shares not me.

Next week the dividend should be a ~ .07 per share With a total of 18 shares issued.

Ok thanks for the information.

It`s more clear to me now.


Greetz

Check out our New AD

NSFW

http://www.reddit.com/r/sexybitcoinads/comments/uqqdn/greenbtccom_making_the_bitcoin_green_3_jackieo/

NSFW

 ;D

FYI: I'm tipping her with my own bits, not company money.

Weekly mining payout 4.37
2.18 to Growth Fund
1.74 to dividend fund
.43 to operation fund


Weekly Pool Luck 91%

Dividend per share
0.06444444

I just created 6 new motions today. 5 expire in 24 hours, the last expires in 48 hours.

They ask to sell 100 shares at a set price that ranges from .10 - .50 per share.

The last motion is asking to spend 60 USD to buy a motherboard for a new mining rig.

I would go for selling @0.5, not to dilute the value of shares already sold, and to raise some capital useful to expand the operation.

And obviously, I support buying the motherboard.

Our New P2Pool Server Hosted In California Datacenter.
Been testing this for around 2 weeks so far, so far it looking pretty good.
Please Note I did put a 1% fee to try to cover server cost.


http://p2pool.greenbtc.com:9332/static/




FYI: I'm currently paying for this out of my own pocket.

I just bought a few shares

Hope this idea grows.

If you can, try to reinvest rather than payout dividend. That allows for growth and reserve capital

50% of mining payout goes towards growth :)

Motion Passed to sell 100 shares @ .50.

Shares up for sale

Shares are sold out.

Mining Output was a little lower this week due too a 60HR block and a few orphan blocks. But we have a motherboard on the way and should have another mining rig up at end of this week. Last Sunday I put 100 shares for sale and thought it would take a week to sell them, and they sold out in under 12 hours. This week I offered 200 shares @.75 each since the ask wall seemed to be buying and selling around that price.
 
This weeks mining output was 3.69 BTC
1.47 BTC  to the Dividend Fund
1.84 BTC  to the Growth Fund
 .36  BTC  to the Operating Fund

This is a statement towards questions about BFL products and our usage.

We currently do not use any BFL products.

If BFL can sell there units for $150 and we can get them in under 6 months then we will consider a purchase.

I have a personal problem with technology that could only used for SHA256, because if bitcoin is forked to SHA512.
The BFL products will only be good for password cracking.

Of course we will be proactive and continue to follow current events regarding BFL Products.

We like using GPU's because them seems to hold value and we can sell and upgrade at anytime and not have to wait a few months for a product be made and shipped to us.

Motion 65.

To Purchase a DC TO DC Power Supply for the latest Mining Rig. ~70 USD COST.

Motion 66

To Purchase a USB thumb drive to store .PEM files for our company servers offline while not in use. ~12 USD Cost.

Motion 65 Passed
Motion 66 Passed

Submitted all document to verify identify this week, so we should be 6 for 6 very soon.

If you can get more green power than you need you can sell it back onto the grid and get government incentives etc.

Have you investigated this ?

I mean it may be more profitable to sell excess power than to mine  :)

the solar system is a little different because its OFF-grid, not a tie-in system.
I'm trying not to release alot of information about it until I get all the performance specs during real life operation.

Also i don't want to OUT my CTO(Solar guy) because he is a high profile person & company.
And I don't have or want any endorsements from him or his company.

Plus I'm a niche mining company, I'm not the biggest,I'm not the strongest, but I hope to be the Greenest.
 

Motion 72 - Purchase a motherboard for mining rig 6 cost ~99 USD
Motion 73 - Purchase ram for mining rig 5 & 6                 ~40 USD
Motion 74 - Purchase Cat5 cable and extension cable      ~50 USD

This motions will have 24 hours to vote on.


You may notice some rigs going down and up in the next 24 hours.
I'm switching the cards around in rig 1,3,4 and putting new thermal paste on the GPU's

Just a status update.
Mining Rig 1- 1 hard drive is DOA and the main drive was boot looping/bsod.
I got it back up and running except one of the cards is only running at 50%.

Mining Rig 5- is almost ready to start

The stats from last week will be delayed maybe another 24 hrs before they are updated.
The main mining rig payout was on the failed drive. But we have a couple backups so we didn't lose any BTC :)

I'll post a status update in 24hrs

 

Status Update
Mining Rig 1 Repaired and working @100%
Mining Rig 5 Online and working Great

Last week we mined 4.33 BTC
1.73 Went to Dividend Fund
2.16 Went to Growth Fund
.43 Went to Operating Fund

Security Update
We have moved all bitcoin from wallets to GLBSE and MTGOX. We have google auth enabled on all accounts.
 
I'm in the process of trying to fix the graphics card for Mining Rig 6, it has a broken fan enclosure.

possible switching pools in the next two weeks to try to get better returns on mining power.

Do you really think that online wallets are safer? Even with all their security measures, they are always the biggest targets....

Wouldn't be better to have at least some at hand? Just in case...
 

I would prefer to stay on p2pool, even if it's slightly less profitable. I believe that supporting decentralized mining is more convenient in the long term, considering that in this way we would be collaborating with the long term sustainability of the whole system.

Maybe diversifying a little could be acceptable, trying just some rig on other pools, but I would prefer the main hashing to remain on p2pool.

btw, the alt coins are dumped on the market?

Thank you for your comments

I also believe that p2pool is good for bitcoin and that a 51% attack is going to be possible in the next year thanks to BFL.

I was just worried that other share holders don't agree with using p2pool.

Yes right now the ALT coins are being stockpiled, but when they get sold they go into operating fund per contract. I've been trying to hold them for a higher price.

I think that the google auth OTP is a very secure method of securing an account. I have it on all my GLBSE,MTGOX,and gmail accounts.
Someone has to steal my cell phone to steal the companies coins or hack GLBSE or MTGOX.

I really liked the idea of having the wallets stored offline and people being able to verify funds in the account.
Right now i'm moving the mining payout daily from the online wallet to GLBSE.

I don't know the others, but I invested on this company because I think that going the green and decentralized way is the right thing to do. So I'm all for staying on p2pool.


Nice. I also like this strategy. They may be worth much more in the future (or may not, but that wouldn't be a huge lose anyway).


That's the main concern. We have had a bitcoinica...

I have some very bad news.

https://bitcointalk.org/index.php?topic=83679.120

Has effected GreenBTC very badly right now the total loss is around $1,000.

The Upside we still have our assets and we will not default.

I will keep this thread updated as to what is happening

Weekly stats

Weekly BTC Mined 2.29 BTC

.91 BTC is being sent to the Dividend Fund
1.14 BTC is being sent to the Growth Fund
.22 BTC is being sent to the Operational Fund

Please Note that all Accounts Address have been changed.

This week payout was very low this week, I'm a little surprised.

I'm switching the Rigs over to public p2pool asap and merged them into 1 address to try to get a better payout.

Status Update

Mining Rig 5- Hard drive started clicking of death, and then died after around 24 hours.
got a hard drive off CL for 20$ USD and i'm in the process of reloading

Mining Rig 1- I noticed some higher than normal temps on one of the cards, I finally pulled the card out before it was damaged.
the cards fan is bad and not spinning correctly. looking about for replacement fans.

Mining rig 4- I pulled the card out of this system to replace the card in mining rig 1.

p2pool.greenbtc.com is offline right now due to high cost of running it on AWS.

currently Mining Rig 6 is running p2pool locally for the california mining rigs and a public p2pool server is being used for Rig 2

Also it looks like we will get back our USD funds that are tied up in the Paypal Bitman problem in around 180 days.

Got the p2pool server working better today. The efficiency was crap because it didn't have any incoming connections but should get better in the next few days.
Mining rig 5 is up and running
Mining rig 2, had a minor problem on reboot and the antivirus deleted cgminer but its all fixed.

greenbtc.no-ip.org:9332 (http://greenbtc.no-ip.org:9332) is the temp p2pool server address i hope to have p2pool.greenbtc.com:9332 fixed soon.

merged mining is currently offline only BTC right now.

Will the BFL ASICs affect this operation? Do you expect to switch to ASIC equipment, and remain on solar power?


Gah, I hate it when my AV flags Bitcoin-related files. I mean, really? "Program identified as virus and quarantined: Win32.BitcoinMiner."  :-\

IF BFL is able to ship its ASICs this year or next then difficultly will go up and we will be forced to upgrade to ASIC.

We currently use no BFL products all GPU Based, so if BFL does start shipping its ASICs will will start buying them and phasing out GPU mining or switch the GPU's to LTC.

I'm surprised how much value video cards keep even after they are 2-3 years old.

Until I see a shipped and working BFL ASICs unit in the wild, I'm not going to send BFL a BTC. lol

In respone to BTCSYNC 12K dollar thief.

I use google auth on all my MTGOX accounts,GLBSE accounts, EMAIL Accounts,Online Wallets

Also I'm going to go thru and change out all my passwords on those accounts.

I use random generated passwords that are not reused on any other sites that are atleast 14 chars in length

We had a good week, thanks to very good luck on p2pool Highest week yet.
-----------------------
Mining Payout 5.84 BTC
2.33 to Dividend Fund
2.92 to Growth Fund
.58 to Operating Fund.
-----------------------
Latest news on our held funds. Looking like ~10-14 more days before they will be released.

Please note a change to our dividend schedule
The July 22nd payment will be made on July 19th

~July 20-27 I will be out of the country and will be disconnected from all forms of communication.

I'm also going to put on hold all future transfer of shares to me, when shares are sold.I'm currently deferring ownership of ~10 shares. I hope this will help increase dividend payment payout a little bit.

Motion 88 ok to purchase replacement fan for graphics card max 5btc

24 hrs to vote

I wanted to talk about share price before I put up a motion.

We started sellings the first 30 share or so by auction.

then we started selling them at .5 BTC

Then we switched to selling them at .75 BTC.

What prices do you think I should change the IPO share price to try to better our growth rate?

I still want to expand our current BTC generation ability.
If BFL Labs release its product this year, I want the company to have enough BTC set aside to be able to switch if needed. And switch our current assets to Litecoin or sell them.

I think we will be in a good position when the block chain halves.

Dividend paid 2.3299991 BTC   286 shares   0.00814685 BTC

---

This week we mined 4.356 BTC

1.74 going to the dividend fund
2.17 going to the Growth Fund
 .43 going to the Operating Fund

---

I have deferred ownership of another 5 shares for a total of 25.
To try to increase dividend %

---

Our Weekly Pool Luck 103.5%

---

We are in the process of securing a second site in California with ~500 KWH of power a month.
We now have ~30' x 10' of land to test a solar tracking array(I'm most likely going to test the cost of this myself to see if its a better value)

Things are looking better for getting some of our IPO money that was held in thebitman issue.

I'm posting this here before i do it so people don't think if running away with all of GreenBTC BTC  ;D

I've moving all the current accounts into mtgox so I can put a stop loss order while I'm away from computer for the next 7 days.

I've changed my MtGox password to a new secure 20 chr password, and I have Two Google OTP keys set on two cell phones.
1 for login and 1 for withdraw, the cell phone will be stored in two safes 1 fireproof and 1 not fireproof in two separate locations.
I'm not taking the phone with me on my trip.

---

I found a way to save ~10%(~10-30% but going with 10% for now) on our power cost, I'm building a prototype(with my own funds) if successful I will be filling a patent on it, so until the patent is issued I won't be providing details or pictures beyond the power savings %.

---

Solar Tracking Array #1 should start being built ~1st week of August.

---

We also got a 2 BTC donation to our Operating Fund for a problem I found and notified a company about.  ;D

I have deferred 149 Shares back to the company for a total of 174.

As it stands I will have no voting rights at all on company motions.

This should increase the dividends by 50% from prev payouts.

I reserve the right to reclaim these shares at any time.

I'm doing this to increase Dividends and make the company more competitive for larger investment.

Website went down on the 22nd, Looks like a DNS problem. Emailed Host and hope to have site back up and runnning ASAP.

Just a reminder while the website is down our books are located here https://docs.google.com/spreadsheet/pub?key=0Ak1NqDefdzk2dDRTVXU3ZXJvQTgtUm1jcXdFQk1hRXc&output=html (https://docs.google.com/spreadsheet/pub?key=0Ak1NqDefdzk2dDRTVXU3ZXJvQTgtUm1jcXdFQk1hRXc&output=html)
No Update from the webhost yet, Its kinda sad when i have servers with better uptimes than them.

Please remember this weeks Dividend is only 4 days worth do to changes in payout days last week. Also this weeks payout is for 10 days instead of 7.

This Week pool luck 119.7%  ;D

We had a great week on P2Pool

Mining Payout This Week 8.88 BTC
3.55 BTC Going to Dividend for Next Week
4.44 BTC Going to Growth Fund
  .88 BTC Going to Operating Fund

Motion 99

Please Vote Since I have deferred all my shares back to the company.

This will change the Bylaws to allow the dividend to be paid immediately instead of holding it for 7 days.

Effects: The First week this goes into effect an extra dividend payment will be made.

This needs 80% of current share holders to pass, time to pass is 7 Days.

Accounting Note:

I screwed up and transferred too many shares back to GreenBTC.

I forgot to account for shares that I bought with BTC on the open market.

I'm transferring 34 Shares back to myself, and all of my 50% of share will continue to stay with the company as deferred.

By transferring shares I bought back to the company it would screw up the deferred shares totals.

The Insider trading has been updated on the company books to reflect the transfers

Mining Payout this Week 4.56 BTC
With 1.82 BTC going to Dividend Fund
with 2.28 BTC  going to Growth Fund
with .45 BTC going to Operating Fund

---

Dividend Payout Was 3.55 BTC
Paid to 209 Shares
0.01698564 Per Share

---

And Don't forget Please vote on the motion to change the Bylaws to allow the dividend to be pay out instantly instead of waiting 7 days.
Needs 80% to Pass.

---

Just a notice to share holders.

I'm filing a small claims court suite against TheBitMan in 24 hrs, if the money owed is not paid.

I'm doing this because I feel its in your best interest to try to get paid faster.

Status Update.

Having some problems with Mining Rig #1
It had been locking up and not rebooting incorrectly multiple times the last few weeks.
Had some data corruption and Bad Sectors on the Hard Drive.
Swapped out the Hard Drive and it now has a fresh OS Install.

---

The California site, is around 3-4 Miles from the epicenter of two earthquakes Over 4.0 the past 24 Hrs
We had no damage, but it looks like one or two of the systems shutdown and did not reboot correctly.


Internet seems to be working great since the Speed increase, debating hosting greenbtc locally since I now have a 5 mbit upload speed.

I got off the phone with GLBSE tonight so I should have some more verification added to my securities.

Status Update
Mining Rig #1

This is now running Windows 8 Pro RTM Build 9200 X64.
I'm getting almost 7% better Mh/s than when I was running Windows 7.
It seems very stable and so far is running Great.
I restarted Running CPU LTC mining on Rig #1

---

Our Public P2Pool Servers

http://p2pool.greenbtc.com:9332 (http://p2pool.greenbtc.com:9332)BTC

http://p2pool.greenbtc.com:9327 (http://p2pool.greenbtc.com:9327)LTC

---

Motion 99

This motion needed 80% to pass because it has to changes the Bylaws, it got around 63% so it failed.

At current market rates for investment in the macro-markets, Green energy makes no sense to invest in even when you consider the pollution abatement benefit. Why should I invest in this company you run in a market where 1% per week in the minimum return?

Green= is the ANTI-Mining Stock

Its your Hedge against other Mining Stocks.

We buck trends that we consider high risk for the investor, that hurts our weekly return but helps prevent the default of the stock by making that stored value safe.

We have no funds stored with anything Pirate Related. We are 100% PIRATE FREE.
Alot of mining companies and stocks have RISK based just on them using a PIRATE related assets or fund.


We do not have any BFL labs products ordered.
BFL has released a successful product, but there claims for the new products seem to go outside MOORE's LAW.
If they do release a product in OCT, we will purchase it on the OPEN market for a premium. Rather than risk putting money in a company that can't meet its past shipping timetables.

To Help make the company more attractive to Investors, I have deferred my share of the company stock back to the company. This helps increase the Rate of return.
I do buy the company stock on the open market and use the dividends to reinvest back into the company.

I started out with hardware and then sold stock. I didn't start this when nothing to give and buy with the proceeds.

I receive no CEO Pay.

I follow the bylaws and respect the share holders wishes.
If a shareholder came to me and said we should disband the company, I would put up a motion to do so and let the share holders decide.

The Bylaws prevent me from selling more than 1% of my shares per week.

We are not a bond, you get ownership.

We don't pay 100% dividend, we hold back profit to help grow the company without issuing more shares.

We Mine on P2Pool the decentralized Bitcoin mining pool.

We constantly monitor BTC vs LTC Mining Prices, to see if LTC mining becomes more profitable than BTC mining we will switch to give the best dividends.

Currently Our hardware can withstand a BTC Encryption change, If a Zero-Day hack comes out to SHA-256 and bitcoin has to change algorithms we won't be stuck with hardware that can no longer mine.

Over 20+ Year of Computer Experience, I maintain all the Mining Rigs,Web Servers,etc
We run a Mix of Win 8,Win 7 and Ubuntu OS.

We have more than 1 Mining Location.

I will always listen to the investor and try to take time to answer there questions.

I'm very Aggressive, if you haven't heard I'm filling a small courts claim against a former vendor/BTC Exchanger we used in the Past.

I'm not a fly by night operation, I'm not going anywhere.

I take security very very serious and use 2 auth on any account that offers it. Currently 11 accounts.

I try to run as OPEN as possible so that Investors/share holders see everything that I see. There is nothing to hide with this company.
I try to update on every little thing that effects to company so that everyone is informed about it.


Thank you for taking the time to Ask me about the Company

I really appreciate the rapid response, and I will admit that your company's structure is just about what I look for, but you have dodged the question of why you think that renewable power should be used to run the companies assets.

How are you the "Anti-mining stock"? Do you not generate bitcoins using computer components and electricity?

I appreciate that you are low risk, but don't you counteract that by having ~.15/kwh electric rates? That makes you damn close to being a marginal miner. I think staying away from pirate is a good idea for you guys.

I too have not invested in BFL technology for mostly the same reason. Not to mention that premium prices will probably be less than what I make in GLBSE stocks in the interim.

I can appreciate your personal conduct in running your organization. It is admirable, and you should be recognized for it.

My great belief in Green Power has to do with my relationship with my CTO. I've spent many hours talking about the green industry and its technology at length with him. I try to be vague when I talk about him because he owns a large green power company and is a industry pioneer. I have never asked him to endorse my company and never will because i want it to stand on its own legs. I use him for technology advice and experience he has no money invested in the company because I have forbid it(within my power).


As it stands right now Green Power will not give the company any advantage Over other Mining Companies.


One of the Idea's I've been floating around is Selling Green Bitcoins, IE bitcoins that are mined from Green Power Sources.
They could be sold for a higher premium once documentation is provided that they come from a green source.

People that support green principles and Ideas do so with there wallet.


I'm unsure of the exact mix of my investor, but the large majority I've talked with via email do so because of the Green Principles.


I'm hoping in the next few months to be able to move atleast 50% of the mining rigs to Arizona.

In California the Mining Rigs don't require any outside cooling IE Air Conditioning even during the summer months.

In the next few months the Temps in Arizona will be coming down to a point where they won't need Air Conditioning to Run, and our power cost is .12Kwh there.

Looks Like we have to reevaluate our pool usage again.

P2Pool hash rate went up ~40% this week, added 120Ghz.

This causes share difficulty to go up and payout % / Rate to go down.

So I'm going to Play around with a few different Pools and see where you should end up.

Because loosing 40% of our profit would cripple the company.

Dividend Paid 1.82 BTC

Pool Luck this week 89.5%  :'(

Total BTC 2.47

Dividend Fund .98

Growth Fund 1.23

Operating Fund .24

--------------
By switching to a Normal Pool or PPS Pool

Our Weekly Payout Should be more Stable.

Good Bye P2Pool unless someone wants to fork p2pool lol

Since our share difficulty went from 300-400 to over 900

GREEN is now verified on 5 of 6  ;D

That is the highest i can go because i don't really use my linked-in account .

Dividend payout is going to be delayed around 8 hrs, had a blow out on the trip this weekend so i got back way later than i expected too.

Weekly mining Payout 3.49 BTC
Dividend Payout 1.39 BTC
Growth Fund 1.74 BTC
Operating Fund .34 BTC.

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Today's dividend payout is .98 over 224 share per share .0043 or .57%
Not that great of a payout this week because of pool luck, but we are bouncing back.

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We are going to have some downtime on some of the rigs while I move them over to Arizona.
If should help reduce our power cost a little since its .12 vs .16

Weekly Mining Payout 2.01 BTC
.80 going to dividend Fund
1.00 going to growth Fund
.20 going to operating Fund

We had some unexpected downtime this week related to moving the mining rigs 400 Miles and Having Rig 1 go down and not noticing it.

Motion 111
72 Hours to Vote
Needs 81% to pass

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Changing the amount of shares from 10,000 to 1,000.

This week was a much better week than the last two.We have 100% uptime the entire week, mainly due to some software changes I made the week before I suspect.
We also dumped p2pool due to its wild swings in luck, one week its 130% this week its at 76.7% luck. It was playing too much havoc on our dividends.
We are very cash heavy right now, due to waiting to see what happens with BFL in OCT and the Reward Halving.

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We mined 3.23 BTC this week.
1.29 BTC Going to dividend to be paid next week
1.61 BTC Going to Growth Fund
 .32 BTC Going to Operating Fund
 

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Motion 111 Passed By 82%
I will email GLBSE to reduce our share number tonight and put the remaining shares up for sale.

All is good over here, our rigs are running great. There may be some very small down time this coming week, due to moving Rig #1 into a better location that is vented better for the heat output. We are currently holding Bitcoins again because it appears that the price has stabilized. If the market starts going up 5% a day again we will resume converting to USD. We are very healthy regarding our cash holdings to prepare for the coming Block reward halving and Pending Super Duper Java Coffee Heater Products. In my option we are in a better position when someones starts to ship a new product. I will gladly pay a premium to get a released product vs vaporware  ;D. We have recalled 9000 Shares today, and put all remaining shares up for sale.

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We mined 2.83 BTC this week.

1.13 BTC Going to dividend to be paid next week
1.41 BTC Going to Growth Fund
 .28 BTC Going to Operating Fund

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Any questions please ask

Two New Motions to vote on (7 Day time limit)

Motion 130
"This motion will change the bylaws of the company to direct Alt Coins towards mining profit instead of going towards Operating Costs"


Motion 131
"This Motion allows RandomQ to purchase shares and Sell Shares with the express purpose of offering pass thru bonds on other exchanges in alt coins for this company"

This is to allow me to Purchase and sell shares on GLBSE and offer Bonds for those shares on other exchanges that offer Alt coin purchases.

The Dividend Payment has gone out early (Today)

We had a power supply go out in Mining Rig #1(Rig 1 has 50% of our Mining Power) Last night heard it POP.

Took the power supply out of Mining Rig #6

Mining Rig #1 is currently Running at 33% Mining Power.
Until I can get a replacement Power Supply.

Mining Rig 1 is @ 66% Mining Power now, and I'm testing 2 new power supplies to make sure they can handle the watts.
I kinda screwed up with the mining rig #1 setup, I was running the powersupply at a too high percent of capacity.

I'm attempting to warranty the Power Supply.

The Rig should be back at full power tomorrow.

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Also I'm attempting to consolidate our 6 Mining Rigs down to 1 or 2 Mining Rigs with the same hash rate or higher for Zero Cost  ;D

I also think i can do this with Zero very little down time to the Hashing Rate.

I will keep you updated on the status.

New Motion Up to authorize a Purchase of a replacement power supply for Mining Rig #1
(Still at 66% hash rate)

I bought 2 Powers supply 1 main and 1 Aux for cards. I'm not happy with the output and are going to switch  to another option.
I'm going to return the 2 Power supply when I find a better deal or Higher wattage supplies or go to a 3 Power Supply Setup.
---------
In the process of Selling Mining Rig 6, to upgrade the hash rate of Rig 1.. I'm doing a zero cost upgrade, increasing hash rate of Mining Rig #1

Weekly Update

This week we mined 1.48 BTC and .28 Alt Coins (We did mine .51 also but it hasn't cleared the 120 conf required to withdraw it.

.592 BTC will go to the dividend fund
.74   BTC will go to the growth Fund
.148 BTC will go to the Operating Fund
Per our current contract .28 Alt coins will go towards Operating Fund.

We had a really bad week, PS dying, random down time, bad pool luck.

But we do have .51 from this week going on next weeks totals.

I will test PPS pools this week to see if we can't get a more steady rate of return.

Please be aware that the dividend payment was paid early this week. Because we hold he dividend for 1 week.

Mining Rig #1 has been repaired with a new power supply and it now running at 100% again.

Mining Rig #6 is almost completely sold, for an upgrade to mining rig #1

The Motherboard I'm going to put up for sale on the forum, I'm going to set the auction for 7 days.
I'm also going to publicly bid for it, to possible purchase it.

There was a accidental sweeping of coins on the wallet, multiple account balances merged.
When these funds merged it mixed a personal account, to correct this error from happening again, I'm going to export my address to another wallet.
Funds should never co-mingle.

Most likely an updated contract in the next few weeks, so that we can shift the bylaws into the Contract. That way it will be more clean and everything will be in stone.

The IPO has been completed successfully and all shares have been sold on the open market.

Weekly Update

2.89 BTC mined this week with .08 coming from Alt Coins

1.156 Going to Dividend Fund
1.445 Going to Growth Fund
 .289 Going To Operating Fund

Dividend payment is on the way, its a little be slow to confirm tonight

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We had a good week so far, had a small power failure that rebooted 3 mining rigs but everything seems good now.

If any shareholder wants me to put a motion to vote and Delist "GREEN" and switch exchanges, Let me know via PM or Email

cryptostocks

I want to try and hold on as long as possible on GLBSE, because right now all these problems haven't effected our little company.

It just doesn't feel like GLBSE is conducive to do business right now given there current climate there.

But please everyone give me your input also.

That is why it is so sad, that the exchanges refused to cooperate (at least until now ;)). Otherwise the risk of failure in a network of exchanges would have been lower for the whole system and would have created a environment of more mobile assetflow...I would highly encourage you to expand to other exchanges, to support them and to somehow signal them, that you want the advantages of a network. I'm still optimistic and support GLBSE but will also consider CS ;)

Motion 149

Allow RandomQ to Defer his shares back to the company, but retain the voting rights of those shares.

24hr Motion to vote

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This will allow me to no longer get paid a dividend for shares, but still allow me to vote on motions with those shares.

Motion 149 Passed.

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Motion 150 (24 hours to vote)

Change the dividend payout from waiting 7 days, to paying out the same day Sunday.

Motion 150 Passed
Due to Motion 150 today's payout will be higher than normal.

Mining Payout 3.14 BTC including .14 Alt Coin
Dividend Payout 1.256+.6 from last week
Growth Fund 1.57 BTC
Operating Fund .314

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Dividend Payout is on its way should be paid in ~ 1 hr.

Sorry about the late payment, you can blame it on dexter  ;D

Well with the Downtime associated with GLBSE or possible closure.

Once I have a way to verify ownership of shares, I will do one of two things.

Convert your Shares to another Exchange(CryptoStocks)
Or I will issue you a Paper Stock cert that will have a payment address, and private key for only shipping cost.

The only reason I could see a shutdown like this is hack that was found in GLBSE or the Host needed to be moved for a emergency reason.
Any other reason, is unacceptable.


If dividend payment can not be made this sunday, I will create a new escrow address for dividend payments. Until share holder records can be identified.

Well with the closing of GLBSE, we are currently homeless.

We could relist on cryptostocks,this would help the market value of the shares since being off-exchange makes them 1/10 of the value of them.
This would take around 1/5 of our current Cash reserves

Our NAV appears to be around ~.15-.20BTC.

Until we get our shareholder "Codes" we won't be able to vote on anything.

Other Options are sell off one of the mining rigs, to relist on cryptostocks if we don't want to use cash reserves.

Other options default the company and do a final dividend of the proceeds(As of right now, this doesn't appear to be the best option because was are still making BTC)

Other Options I can start to do a buyback of shares using the my personal dividends(This would be slow, and the price would be ~10% below nav. But would be a good option for people wanting to get out)

Since there is no chance that we are going to have a dividend payment sunday, I will put in a public address the bitcoins for sundays dividend Oct 7. (12GTEybN35EcRiGzX68VCcwncydFTW2QVy)

I will continue to honor and follow our bylaws to 100%. Because trust is the only thing that is going to get us thru this.

Please leave a comment

  

P.S.
Since I'm US Based, and I'm verified by GLBSE. There is a small chance that I could face Unregulated Securities Charges. I will not be leaving the Bitcoin community anytime soon by choice.
I'm a very small fry on the list, and have no exposure to Pirate in any way. But there are members here that have my offline information, to verify my status.

Mining Income 2.78 with .11BTC coming from ALT coins

Shareholder dividends are place in a address till we have a shareholder address to payout.

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Escrow
Oct 7- .83 BTC - 12GTEybN35EcRiGzX68VCcwncydFTW2QVy

Couple of updates

I submitted the email address and payout address to GLBSE so hopefully we can get a list of shareholders to pay out dividends too.

We had alot of problems with mining rig 2 crashing, I think its had more down time and uptime this week.Its not a bad drive so thats the good part,
I'm working remotely to try to get it working again and will keep you guys updated. -Fixed 10/12/2012

I'm moving the domain and website to another company. So the website will be down for a little bit and most likely email will be down for a little bit also.
I'll keep updated with the process.

You can contact me via forum PM, if needed. I login here every day so there is a good chance i'll see your message the same day.

Weekly Update

I think we had more mining downtime than i thought on mining rig #2 this week, but I was able to get down to the root of the problem and fix it and its been 100% since then.
We are having some minor problems with one of the card in mining rig #1, it seems to be getting 1C hotter ever few days, I've put a temp fan over the top of it to give it more cooling until I pull the card
and see whats wrong with it.

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We have a Income of 2.20 BTC with .1 BTC coming from alt coins.
The coins for the share holders have been put in this escrow account 1PUwgQCGZJBJ5T9RG9Y3nQBYCSAf5aXqsd until I get addresses to do a pay out.

so far so good... no news is good news right  ;D

So Far No Asset List From GLBSE, at the rate things are going I don't expect it before the block halving.


This weeks mining payout 2.73 with .06 coming from ALT COINS

The Escrow Account for this dividend is 19NuT1YwxVAbxxaSmkjPpNWrYmKDiWBtER

So Far So good this last week, no major downtime.

Just quick update

The Dividend this week is going to be late going into escrow.

We had a problem this past week with mining rig 1 having the hard drive go bad, and the sata connectors on the motherboard no longer working.

I purchased out of my own funds I'm calling it Mining Rig 0 to lease back to the company for free for the time being.

I'm also going to be moving Mining Rig 0 and 1 to the arizona Site.

I should have a status update later this week, when i get everything moved and settled

still haven't got asset holder info yet, dividend payments are still in escrow accounts

Hello,

We still haven't got our shareholder list yet.

Long story short, Our rigs are still mining, in a few days when the block chain halves we will consider our options.(Switching to LTC or Selling Rigs)

I didn't really expect the ASIC to be this late coming out, since we have nothing on pre-order. We can bid on any ASIC that gets sold on the open market/auction.

Once we get our List, most likely we will switch over to cryptostock since they are offering free transfers now.

There is a minor issue right now with our dividend coins not being accessible. I made a mistake and i wiped the google authentication logins.
But I'm working to get that fixed, If for some reason i can't get access back to the dividends. I will repay them out of my own pocket because it was a mistake on my part,
not a security break in or thief of coins.  

All Fixed Dividends are ready for Payout when we get our list.

Just wanted to Put a Quick statement.

We have the list and will resume dividends payments on Sunday.
We also have an Updated list, that I haven't looked at yet.

The Old list appears to be missing ~25 shares per my records. So its possible someone has not redeemed them yet.

I have a few emails and PM I need to respond too, I should get those taken care of Sunday.


The Current Plan of attack is Issue all Back Dividend Payments, starting slowly to prevent any errors.

Once all Dividend Payments have been made, Re-list the stock on a exchange most likely cryptostocks.

Howdy Everyone,

We have sent out the Oct 7 Dividend Payment.

The Dividend Payment was .004 Per sharre.

https://blockchain.info/tx/5f4fbee2fdfb1ac7ad7488a686960261778c7cbd51a198161d3eec0be1ae3975

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Current Status of the Asset

At the block halving the asset was loosing around $250 a month, with 90% being absorbed by myself.

I was betting that we could skip FPGA and go straight to ASIC. The problem is ASIC is being late coming out, and its a race to see what company gets the product.

I turned off all of the mining rigs with the block halving, it is possible that I may restart Mining Rig #1 with a new graphics card that I will leasing back to the asset for no cost along with 3 other cards.

I'm going to start selling the Mining Rigs to increase our cash reserves.

Since it doesn't really make any sense to buy a FPGA rig right now, even with full trade in value. Unless someone really wants to unload one for cheap.

The Best plan of attack is wait for EXTRA ASIC rigs people bought to be sold on the Open Market Come Early Jan.

But I will keep everyone updated, on plans.


I'm going to wait till next sunday to do the next two dividend payments.

To give time for people to claim there shares or say I might have screwed up with the payments

Thank you very much,

I was wondering where this sudden BTC came from. Good you added information in the Transaction or I would have never found out.

Didn't even know I had shares in Green  :P

What about mining litecoins with the gpus? Wouldn't it be sustainable?

Good News....

We are Relisted!

You should get a email from cryptostocks about registering your account to get access to your shares.

All remaining Dividends have been paid out.(I sent out a small amount of BTC extra because of a unconfirmed block, so consider it a xmas gift)

Going to try some LTC mining, and see if we can get some dividends going again.

The shares were loaded and assigned to the shareholders. For users who did not have an email account with Cryptostocks.com before will have received an email-notification. Check your Spam folder should you not have received your account registration email.

Our Current hardware Mining LTC would only generate ~.7 Btc a week and cost over 250 a month to power.
Currently we would mine BTC @ ~1.4 BTC a week with no down time.

We Will start dividend payment next week on sunday of 1 BTC. With 75% being paid by me and 25% being paid from the general fund.

We Will attempt to buy into BTC price dips in the next few weeks, and convert our USD reserves to BTC.

To Ready the company to purchase a new mining rig when they are released.

I will try to sell off the mining hardware for BTC or USD whatever gives us the most value.

Well good news, We started paying dividends again!!!

The more delays and problems I see with ASIC hadware producers the better I think the choice was to delay a purchase until one is released in the wild.

Just in case anyone missed the news we are relisted on Cryptostocks

Dividend Paid Early, Since I will be out of town this weekend.

Depending on how fast the deposit confirms dividend will be paid sometime today. PAID
Dividend will incease to 1.1 BTC Weekly, with the same mix as before 75% paid by me and 25% by the general fund.

Dividend has been increased to 1.3 BTC a week.



Also going to try and get website and domain back up...having minor problem with old host

Dividend is going to be a few days late gotta buy some BTC and waiting on dwolla transfer.

Updated the Books to reflect cash added this week.

Sent out the dividend payment today

Long term plans involve getting a BFL or Avalon device

I'm moving to a cheaper power company .09 KWH also within 10 miles of a 100 MW solar plant

Just wondering when you will be transferring the shares to another exchange, and what exchange will you be using?

I was wondering about the exchange move myself. I am a shareholder of GREEN, and when I saw there was a request for vote on changing exchanges, I sent a PM asking for some details on the proposed move so that I could make an informed vote, but never got a response back...

Speaking of wondering things, I saw the notice on Cryptostocks today that dividends have been 'suspended indefinitely', and now I'm wondering about that too: how long 'indefinitely' means, and if there was a vote on this that I somehow missed.

Apparently, GreenBTC is gone forever. >:(

Shame on You, RandomQ