Channel topic changed to "Possibly back up and running?" and shares are being passed through to my offline pool.
Thanks to zux0r and pirateat40 for working so hard (all night) to get gpumax back in fighting shape!
If anyone has doubts about these two individuals, I am here to let you know they are the best of the best. I'm sticking with GPUMAX.
Aye, I stand by my avatar! |
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This was the op as seen by Shak's roommates.  The only thing I cannot get my head around is where did $20k worth of hardware go. I understand that hardware failure happens and the odd rip off. But still for me it did fire up a red flag or 2
Does it look like 20k in hardware?  EDIT: As of the middle of January all of the hardware was gone. People had been coming by frequently to purchase small items and occasionally a tower. That is a lot of laundry. The cgminer is showing 6-8 hashing devices, but I cannot see at what rates. |
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An option is a contract transferring the right (but not the obligation) of either buying or selling a specified underlying for a set period of time.
We've tried for about a month now to come up with a satisfactory statistical model that would allow automatic pricing of such an option (something similar to the BTC/USD options available) with limited to no success. Since there is a lot of demand from traders for something of this nature, and since we don't actually have the wherewithal to satisfy that demand, we're opening the books for one competent miner to fill in this role.
This position requires you quote prices for no less than 1k BTC worth of contracts at any given time. The prices are entirely up to you, but there must be bids and asks up for at least that amount. It's not yet decided if the option will be straight difficulty (something like O.DIFF.2MN for instance) or hash-based (something like O.HASH.1GH) for instance. The former would act like a straight forex option, taking the difficulty as the currency rate, the later would act like a commodities option, dealing in the present value of the specified number of hashes (not per second, mind). Alternatively there could be something share based, trading the present value of a "share" if that concept can be sufficiently standardised. All these are up for discussion with the eventual person selected.
In exchange you will receive significant credit support from MPEx, and for that reason only well known and well respected miners will be seriously considered. A strong OTC rating helps.
You can discuss this matter here or via pm, you can also email or make contact on IRC. Thanks for reading.
You should work on your website first, it'd increase your demand even further. |
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IMSA has a farm EIEIO?
Very nice. Now to update the name to match the acronym. |
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And all 16 have been sold to 1 buyer!  Thanks for playing. Come again soon. Winner! |
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also I see that you are part of the GLBSE PPT cabal, are any of these OEIO funds being fed through in to Pirate's S&T, or are they completely isolated from any risk there or associated with P's borrowing? In other words do you guarantee the funds lent to you here in the event of a P default?
This OEIO isn't a FPS&T arb. I do retain some holdings at FPS&T but its only for idle coins I don't have in play for other things. THIS OEIO has been used to expand my mining operation (just yesterday purchased another 5GH of gpus), to take advantage of various market arbs, as well as some short term loans to various parties. My exposure to PPT is currently 100 BTC and will always be a measured risk shared with the other 5 parties. @INAU many thanks, I take it then that you do therefor guarantee these OEIO funds in full in the event of a Pirate default - that's what I was hoping & had assumed when I made my investment therefor I am happy to leave it with you for diversification purposes & to support your mining ops etc Let's face it, a FPS&T default would have major effects on the economy and it wouldsome effect on my short term liquidity. I keep a local slush for everyday transactions. I keep some funds at fps&t. I keep funds at various markets. I have pending payouts from a multitude of pools. If everyone asked for a withdrawal at the exact same time, I would have some issues. If I sat on all coins invested with me, I might as well just return them as idle coins make no money other than possible appreciation. In short, in the case of a fps&t default, I would honor all of my current debts and investments. |
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You should probably come up with a name for the "OEIO."  imsaguy's OEIO doesn't work for you? |
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also I see that you are part of the GLBSE PPT cabal, are any of these OEIO funds being fed through in to Pirate's S&T, or are they completely isolated from any risk there or associated with P's borrowing? In other words do you guarantee the funds lent to you here in the event of a P default?
This OEIO isn't a FPS&T arb. I do retain some holdings at FPS&T but its only for idle coins I don't have in play for other things. THIS OEIO has been used to expand my mining operation (just yesterday purchased another 5GH of gpus), to take advantage of various market arbs, as well as some short term loans to various parties. My exposure to PPT is currently 100 BTC and will always be a measured risk shared with the other 5 parties. |
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Not to nick pick or anything, but why does this "zero-coupon bond" mature with a par value of 1.28 and not 1.00, which would be the normal par value for this type of financial security?
Overall great concept though, thanks for the contribution to the overall BTC community.
the .28 is essentially the interest. A 'coupon' is the interest you receive. Rather than sell 1 BTC bonds with .28 BTC coupons, its just a 0 coupon, 1.28 BTC bond. EDIT: http://en.wikipedia.org/wiki/Coupon_(bond) is a good read to explain a bit better. |
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or be like me and do both!
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I feel your pain. My mining rig, which also doubles as my daily driver, and triples as my home business computer lost an SSD and a PSU within 1 week of operation. I was down 2 weeks for the SSD, when the PSU let go I said "hell no" and picked up an 80+ gold ASAP.
OCZ SSD?  Those things are worse than sitting in the electric chair and hoping for a call from the governor. On the bright side, they know their product is junk, so they never give you any problems with RMA. I run many OCZ SSDs in my miners and haven't had one fail yet, which isn't to say they won't eventually. |
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Unfortunately, on principal alone, I can not bring myself to using IRC, although feel free to let me know if Morse Code or Smoke Signals ever become fashionable again Fine, we'll send you a post card the next time they're mining public work. |
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That's probably due to using Apache virtual hosts. Can be perfectly normal... I have the same question, is it impossible to reach by IP? What's the advantage of using the ip vs dns? A single roundtrip when you start your mining software? |
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I saw we just give out bandaids in the case of default.. ow!
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So on top of those 15-20k writes per second, you want to add an extra check to each one to tell if the share is stale. If it's so trivial, why don't you buy Pirate an extra server to handle the added load?
What are you saying, pirate is checking 20K shares per second for stales by hand when he is awake? Let me rephrase the question: what is it you can check manually by looking at a screen, that you can not monitor automatically relatively easily ? Have you heard about the dog/cat captchas? Evidently, computers suck at telling the difference between a picture of a cat and a picture of a dog. There are certain tasks that are better suited for the human eye than a computer. |
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This is starting to be spam thread.
starting? Is. |
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Hello. Purchase 1 has been created and is pending payment.
about 9 hours ago ~50 network confirmation, when my purchase will be ok? ) They are manually approved and Pirate is sleeping. It is 2AM in his timezone. |
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Has the purchase price really gone up to .00006362?  (not that I'm complaining) no. my purchase screen says 5519 per |
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