Cool, if you do I may use it for my asset.  I'll see if I can organise you a donation for your work from shareholders if we use your client.

Can you automatically pay dividends to coloured coins?

Aphex Twin: Window Licker

The Prodigy: Smack My Bitch Up

Our ASIC's are going to be operated by a BFL employee which we pay a fee for.  So I'd imagine any business tax is for him to sort out.  All we lot are is part owners of ASIC's and there is currently no taxes, regulations or laws on mining bitcoins.  If a shareholder wanted to sell his/her share of ownership on a Open-Transaction server then that is up to them.  If a potential investor wanted to issue an asset (maybe on Open-Transactions) to raise funding for entry to the cooperative then that is up to them.  Although I think we are a very long way off anyone being able to raise additional investment for us on Open-Transaction servers. 

As the only way I got paid for running the outfit was by 5% of share issues and that can't happen for the foreseeable future plus now I will have a lot more work to do by arranging dividend payments by hand and sorting any voting out.  Then a new way of paying for this new administration work must be sorted out.  I put forward this idea -

2% of profits to be paid to the "CEO"/Director
1% of profits to the Treasury
1% of profits to the Accountant
1% of profits to the Secretary

While we initially go through this change I think I should take all the roles until we have a stable outfit.  Although what I would initially like to offer out is the secretary role.  That person will have to create a private(password) IRC channel for voting and/or count email votes and work out there weighting.  The next role to be offered will be the accountants role to work out our accounts and dividends.  Then the Treasury maybe if we could find someone else trustworthy enough to manage the wallet and pay out dividends.  Finally if I ever run out of time/effort/energy which I doubt for a long long time yet then I could stand down as "CEO"/Director" or take a lesser Directors role.  Say with a split with someone else for the 2% salary.

I'm not going to ask for any payment initally and will do all four roles for free to start us off.  Although once we have all three 60(GH/s)ASIC's and are saving towards our fourth I think I should start getting paid for this new extra admin work.  The only other way I could continue with all this extra admin work without being paid a percentage of profits is to be paid in an increase in share ownership.

Yes I'm also upset the GLBSE got shut down as I was very soon about to receive a 28 share payment.  Of which I earned around almost twenty shares so far by the selling of newly issued shares.

Another job for the four admin roles above could be through raising additional funding for us to purchase new ASIC's.  As we are saving 50% of profits to purchase new hardware the full price of an ASIC need not be raised for someone to enter the or increase there share of the cooperative.  Although this could be quite complicated now?  Maybe I could put forward an idea where individual shareholders agree to a smaller dividend with the subtractions being saved up to help faster purchase new ASIC's.  With there share ownership increasing.  Although this could be quite complicated as I don't have a accounting degree and even looks like it could involve calculus 

All should we stop any new investment and just stick to our 50% growth plan.  Which is probably for a vote to hold although I can't see any easy way anyone could invest at the moment unless it was by giving/buying us ASIC's. 

Also the 50% growth plan may have to change in future depending on how fast our (MH/s)per share is growing against the growth in the ratio against the growth in network difficulty.  As if our (MH/s) per share doesn't grow faster than the long term growth in network difficulty then we would in fact be running at a loss.  Which we'd soon see through decreasing instead of increasing profits and dividends. 

So if we noticed profits and dividends decreasing on the long term then we would have to bump up the 50% growth to a higher percentage.  Which would see an even bigger decrease in dividends in the short term until it started to rebound after us buying new ASIC's even faster.

 

The way I'm hoping it works out for us on Open-Transactions is for each shareholder who wants to use it, issues there own asset valued against their share ownership of RSM, which I may have to sign to prove is not fake.  That way rather then there be one asset issue for the whole of RSM (just me) there'll be lots of individual asset issuers of smaller amounts.  That should make things safer.  Also for the fact Open-Transaction servers can be hosted within the I2p and/or Tor networks.

We will follow the rules of an investment club (in the UK) but in a matter of fact and in the eyes of the (UK) law we are a mutual cooperative of interested friends.

Yeah I did set up a RSM irc channel I just have to figure out how to make it private or make a private version.  I've just started trying to use GPG email but I'm still a newbie on the subject :/

In the United Kingdom investment clubs and their members are required to submit form 185(new) to HMRC each year.

So were a "cultural" miners Co-Op

The only way we can do it at the moment is once I've got all shareholders details is to do it through email and for me to work out each shareholders weighting.  Although this requires you all to trust me but so far you have all had to trust in me complicity since February.

While were going through this transition the only roles I'm not giving up is Secretary or CEO (whichever has more say) and Treasury.  The other two roles are up for immediate taking if any (major) shareholder(s) wants to help.

What we could do with if anyone knows a way is for us to be able to hold secure shareholders voting?

Well I'll probably continue as doing all those roles as I didn't just start RSM I invested over BTC100.00 into it as well.  Should those roles be paid?  If so we'll need a new "contract" or whatever ever its called in a Co-Op.  Once the job gets bigger and/or anyone wants to help then the work can be distributed.

I'm not moving to Cryptostocks it will just follow the GLBSE as the same laws apply.  Also senbo you are an anonymous entity so you can't be taken to court and thrown in jail for the legal reasons the GLBSE has had to shut as long you remain anonymous and/or your anonymity remains strong enough.  I am not anonymous and risk being charged for issuing and running an unlicensed security and RSM can't afford to pay for a lawyer to work things out so that I don't get charged with breaking the law. 

So as RSM has had enough seed funding to buy 180(GH/s) of ASIC's and I will soon have shareholder details.  Once the ASIC's arrive at Inaba's we will start paying dividends and offer to buy back shares.  This is not a matter for a motion to decide if I should continue breaking the law or not by running an unlicensed security.  So we are no longer a mining stock, we are just a group of people who have all chipped in together to buy mining equipment and all receive a share of the profits from that. 

We will offer to buy back anyones shares at BTC0.41 but we can only buy back so many at a time.  So first come first served.  As we buy back any share the percentage of ownership for the other shareholders will go up.  We will save up to 5% of profits to buy back shares.  If no one wants to sell there shares back the 5% saving will stop once the wallet for that is worth a certain amount

I will look at people being able to trade there share ownership on Open-Transaction servers once I've figured it all out (so any help appreciated).  What will probably happen on OT with your shares is if you want to trade them you issue your own assets valued against your RSM share ownership.  Which I with sign to prove its not fake.  This is so I am no longer a securities issuer and if you want to trade your own share ownership then you become your own securities issuer.  Open-Transaction servers can be located within both the I2p and/or Tor networks.

As RSM has had enough investment to pay for 180(GH/s) of ASIC's and we will soon have all shareholders details.  Then I'm probably going to turn RSM into a private mining Co-Op investors club.  I'll set up a spreadsheet to calculate everyone's dividends and once they reach a threshold of say at least BTC1.00 they will payout to your chosen wallet address.  RSM will still save 50% of profits for growth but will now save 5% of profits to buy back holders shares at BTC0.41 (tho that price is not set in stone yet) so everyone who has invested and wants to now get out and profit can do so.  We will also let people join the private miners Co-OP investment club for a reasonable price.  In the long term I will look at helping RSM shareholders in moving there share (ownership) on to a Open-Transaction servers (if they want to) - (https://github.com/FellowTraveler/Open-Transactions/wiki).

Yeah this whole thread and the other three or four are just FUD.  Have you ever thought it may help some people in spreading FUD about the GLBSE (edit: Nafario) and the rest are just tolling like usual.

Yet more FUD 

I think Nafario has contacted all major shareholders and won a motion to stay CEO as well.  I run RSM and in no way did he hint I'm under investegation.  I even offered to proxy ID for someone (who wishes to remain anonymous) assets and coins and he only warned me of potential problem arising from future investigations into his accounts and didn't tell me not to do it just only advised me on any future potential pitfalls.

From what I understood any AML regulations information and data taken will only be provided to the government/police if he is required to do so.  Implying the authority's are not necessarily asking for such information at this point or at least not for everyone.   

I uploaded the API output formatted in JSON of assets holders in LTCI and the API output formatted in JSON of the assets we hold to a private online backup and will try to back it up at least weekly.  In case LTC-Global ever went dark.

Yes and so he should.  I've had an asset on the exchange since version 1.0 and need to pay dividends.  We are also friends and I was digging information not just for myself but on the request of some others.

Well believe me or not but I also have Nafario on my personal Facebook as well as having his phone number.  You think I'm making this up then why would I do that.  I think Nafario has been directly in touch with the majority of shareholders and what he told me is nothing he hasn't already repeated on the phone at least several times today already.