Title: [GLBSE] Help me define a new mining operation Post by: amazingrando on February 25, 2012, 06:56:10 AM Hi everyone-
I'm looking for your ideas about what would be nice to see in a new mining organization with features that get people excited to invest and be an investor - something interesting and lucrative. Here is the short of it:
I am looking for your suggestions on what you would want to see in a new mining operation. More dividends, more reinvestment, maximize profits, expansion into other uses for hashes (e.g. render farm, penetration testing, etc.)?? With your suggestions I hope to define the organization this weekend with an IPO next week. Title: Re: [GLBSE] Help me define a new mining operation Post by: gewure on February 29, 2012, 11:50:34 PM sounds very promissing
Title: Re: [GLBSE] Help me define a new mining operation Post by: senbonzakura on February 29, 2012, 11:58:25 PM regular dividends per week
Title: Re: [GLBSE] Help me define a new mining operation Post by: gewure on March 01, 2012, 12:41:34 AM rapid expansion plan
Title: Re: [GLBSE] Help me define a new mining operation Post by: bulanula on March 01, 2012, 12:43:37 AM What about a BFL farm if they can meet the demand or a farm of Rig Box devices ?
That would be something new and not done before in the community. Title: Re: [GLBSE] Help me define a new mining operation Post by: amazingrando on March 01, 2012, 01:12:44 AM What about a BFL farm if they can meet the demand or a farm of Rig Box devices ? That would be something new and not done before in the community. I've thought about that. I suspect FPGA rigs like that might be the future, but I'm not ready to make that jump for the following reasons: 1) Who knows if/when BFL will deliver the big boxes and what their real specs will be 2) I already have the 6990's and can easily add more (infrastructure is in place to expand) 3) Current FPGA's aren't as attractive when power is very cheap ($/Mh is high to acquire) 4) GPUs can be rented out to do other kinds of processing if bitcoin mining loses profitability 5) You can always sell GPUs to gamers Title: Re: [GLBSE] Help me define a new mining operation Post by: Electricbees on March 01, 2012, 02:52:02 AM Subscribing to this thread; Interested in investment in this project should it get off the ground.
Title: Re: [GLBSE] Help me define a new mining operation Post by: amazingrando on March 01, 2012, 03:36:03 AM rapid expansion plan With investment, it should be possible to add capacity quickly. After a post-IPO built-out, my preference would be to reinvest and add capacity more than pay dividends. I'm thinking of a split of profits between reinvestment and dividends along the lines of 70/30. Comments? Title: Re: [GLBSE] Help me define a new mining operation Post by: gewure on March 04, 2012, 02:54:30 AM rapid expansion plan With investment, it should be possible to add capacity quickly. After a post-IPO built-out, my preference would be to reinvest and add capacity more than pay dividends. I'm thinking of a split of profits between reinvestment and dividends along the lines of 70/30. Comments? i thought quite alot about the rate of reinvestment to be done in the bitcoin mining business and came to the conclusion that btc-syndicates approach of reinvesting 100% isn't bad at all. bitcoin is growing rapid and steady, therefor a rapid and steady growing strategy should be applied. i suggest 80/20. thats the ration i would apply if i had a mining business. greets Title: Re: [GLBSE] Help me define a new mining operation Post by: cunicula on March 04, 2012, 03:07:47 AM Do 50/50, the problem with heavy re-investment is that it is difficult for external observers to differentiate from scamming.
Title: Re: [GLBSE] Help me define a new mining operation Post by: HorseRider on March 04, 2012, 03:40:15 AM A man want to reinvest can always use the proceeds buy more share of the company.
A man who want more dividend can always sell a little bit of the shares if the company reinvest. No big deal. Title: Re: [GLBSE] Help me define a new mining operation Post by: chungenhung on March 04, 2012, 06:45:55 AM is this listed yet?
Title: Re: [GLBSE] Help me define a new mining operation Post by: gewure on March 04, 2012, 06:47:18 AM A man want to reinvest can always use the proceeds buy more share of the company. A man who want more dividend can always sell a little bit of the shares if the company reinvest. No big deal. that doesn't change the value of the company your are invested in. and that is finally what most people are looking for i think - long term growth. Title: Re: [GLBSE] Help me define a new mining operation Post by: amazingrando on March 04, 2012, 02:03:01 PM Title: Re: [GLBSE] Help me define a new mining operation Post by: splatster on March 06, 2012, 06:29:06 AM This definitely looks interesting. I bought a short mining contract of about 40 GH/s from him a week or so ago. I can attest to his having of the rigs. Also, I currently have a decently sized loan out to him so he could get some more mining hardware. Speaking of which, I would love to get in contact with you so we can talk more about that loan. You can drop by on IRC or send me a PM.
Title: Re: [GLBSE] Help me define a new mining operation Post by: Philj on March 21, 2012, 02:04:00 PM Any update on this. I'd be on board for a few BTC when this IPOs.
Title: Re: [GLBSE] Help me define a new mining operation Post by: amazingrando on March 21, 2012, 04:48:39 PM Any update on this. I'd be on board for a few BTC when this IPOs. Thanks for the interest. I've been a bit busy bringing online more equipment and working out what is the optimal starting point in terms of GH/s, strategy, and dividends vs. growth. Also, I've been waiting for GLBSE 2.0 to launch. I hope to have everything worked out this weekend. Title: Re: [GLBSE] Help me define a new mining operation Post by: Garr255 on March 21, 2012, 10:29:15 PM 2.0 should be out pretty soon. My IPO was a few days ago, and we've already ordered six x6500s. Good luck, though I'm sure you won't need any :P
- Garrett Title: Re: [GLBSE] Help me define a new mining operation Post by: guruvan on March 22, 2012, 08:59:31 AM I will be interested if you show a longer term growth strategy.
Title: Re: [GLBSE] Help me define a new mining operation Post by: Kaos on March 22, 2012, 03:35:52 PM Promising, and I agree with you on all accounts in regards to GPUs/vFPGAs when power is cheap.
The most important element for me is a solid ROI. BTW, what country is the data center located? In regards to penetration testing do you mean renting out the processing power of password cracking (Cracking as a Service)? Pre-computing Rainbow tables and selling them or something else? I've thought about both of these as options... I'll be watching for an IPO. Title: Re: [GLBSE] Help me define a new mining operation Post by: amazingrando on March 22, 2012, 07:56:21 PM Promising, and I agree with you on all accounts in regards to GPUs/vFPGAs when power is cheap. The most important element for me is a solid ROI. BTW, what country is the data center located? In regards to penetration testing do you mean renting out the processing power of password cracking (Cracking as a Service)? Pre-computing Rainbow tables and selling them or something else? I've thought about both of these as options... I'll be watching for an IPO. I'll definitely try my best for a solid ROI. That being said, changes in price and difficulty, mining luck, etc. will definitely keep me on my toes! The data center is in Washington state - the cool Pacific Northwest where hydro power is plentiful and in the right places can be quite cheap. For renting out processing power, I'm thinking first of password cracking, but honestly I've got my hands full with my bitcoin mining in the short term. I'm planning to set up a test rig soon with backtrack and figure out an optimal configuration. Rainbow tables are an option too, but haven't really spent much time fiddling with that yet. Title: Re: [GLBSE] Help me define a new mining operation Post by: Kaos on March 22, 2012, 08:10:42 PM Moxie has setup a very excellent WPA cracker service: https://www.wpacracker.com/
I'd say forget about all that for now and concentrate on your core business which is bitcoin mining... Title: Re: [GLBSE] Help me define a new mining operation Post by: friedcat on March 24, 2012, 08:20:41 AM Hi everyone- I'm looking for your ideas about what would be nice to see in a new mining organization with features that get people excited to invest and be an investor - something interesting and lucrative. Here is the short of it:
I am looking for your suggestions on what you would want to see in a new mining operation. More dividends, more reinvestment, maximize profits, expansion into other uses for hashes (e.g. render farm, penetration testing, etc.)?? With your suggestions I hope to define the organization this weekend with an IPO next week. Sounds cool, especially with such inexpensive power costs. You said you acquired 30 new GPUs, plus your old ones, the total number of which may be near 100 GPUs. I heard even 50 GPUs are already a pain to manage. Are you planning to work on this full-time? Or will you need to hire someone else to do it? Title: Re: [GLBSE] Help me define a new mining operation Post by: amazingrando on March 24, 2012, 09:01:49 PM Hi everyone- I'm looking for your ideas about what would be nice to see in a new mining organization with features that get people excited to invest and be an investor - something interesting and lucrative. Here is the short of it:
I am looking for your suggestions on what you would want to see in a new mining operation. More dividends, more reinvestment, maximize profits, expansion into other uses for hashes (e.g. render farm, penetration testing, etc.)?? With your suggestions I hope to define the organization this weekend with an IPO next week. Sounds cool, especially with such inexpensive power costs. You said you acquired 30 new GPUs, plus your old ones, the total number of which may be near 100 GPUs. I heard even 50 GPUs are already a pain to manage. Are you planning to work on this full-time? Or will you need to hire someone else to do it? I now have about 200 GPUs. It certainly is taking a lot of my time. I've been able to use some tools like BAMT to make things easier to monitor and manage. I would like for this to become a full time endeavor by the end of summer, but I'm not quite in a position to do that yet. More IPO details coming tomorrow... Title: Re: [GLBSE] Help me define a new mining operation Post by: friedcat on March 25, 2012, 01:01:03 PM Hi everyone- I'm looking for your ideas about what would be nice to see in a new mining organization with features that get people excited to invest and be an investor - something interesting and lucrative. Here is the short of it:
I am looking for your suggestions on what you would want to see in a new mining operation. More dividends, more reinvestment, maximize profits, expansion into other uses for hashes (e.g. render farm, penetration testing, etc.)?? With your suggestions I hope to define the organization this weekend with an IPO next week. Sounds cool, especially with such inexpensive power costs. You said you acquired 30 new GPUs, plus your old ones, the total number of which may be near 100 GPUs. I heard even 50 GPUs are already a pain to manage. Are you planning to work on this full-time? Or will you need to hire someone else to do it? I now have about 200 GPUs. It certainly is taking a lot of my time. I've been able to use some tools like BAMT to make things easier to monitor and manage. I would like for this to become a full time endeavor by the end of summer, but I'm not quite in a position to do that yet. More IPO details coming tomorrow... Thanks for your reply. :) And I would like to ask, when you say "Once I hit 50kVA in a month through expansion", do you mean you could already reach 50kVA to bring the electricity price down by installing these 30 new GPUs, or are you talking about some further expansion plan of your farm in this month? Title: Re: [GLBSE] Help me define a new mining operation Post by: amazingrando on March 25, 2012, 06:05:13 PM Thanks for your reply. :) And I would like to ask, when you say "Once I hit 50kVA in a month through expansion", do you mean you could already reach 50kVA to bring the electricity price down by installing these 30 new GPUs, or are you talking about some further expansion plan of your farm in this month? I see how that phrase could be read a couple of different ways. My power company has a two tier pricing model - small and large commercial customers. The cut off between the two tiers is 50kVA of usage during a month. Thus, once I am meeting or exceeding that level of power usage, then then rate will come down. I did just speak with the power company and they told me that they review usage on an annual basis, not on a monthly basis. So it might have to convince them to consider changing the rate without waiting for the annual review if I'm using at least 50kVA. A better scenario is for me to move my operation to a different county where the base power rate is already lower. Given that I'm nearing my power capacity at my current facility, that might be a necessary move. Meanwhile, I'll have to stick with the 5.2 cents/kwh, which is still quite good. Title: Re: [GLBSE] Help me define a new mining operation Post by: amazingrando on March 26, 2012, 02:28:40 AM I've put together a draft of the new mining operation.
You can find it in this new thread: https://bitcointalk.org/index.php?topic=74044.0 |