RSM - https://bitcointalk.org/index.php?topic=63257.0 - just needs to sell ~250 shares @ BTC0.30 each to be operating at 48(MH/s)per share on delivery of our ASIC's. I know were not issuing dividends until we receive the hardware but that's a better (MH/s)per share rate then most if not all our competitors. Were planning on issuing 300 new shares on Monday at BTC0.30 each to take us to >51.6(MH/s)per share. Although if we can shift another ~1400 shares at BTC0.30 we would be operating at >54(MH/s)per share or 1(GH/s)@< BTC5.55. Just thought I'd let you know. We've been operating over seven months now and I know Nefario personally. |
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RSM - https://bitcointalk.org/index.php?topic=63257.0 - just needs to sell ~250 shares @ BTC0.30 each to be operating at 48(MH/s)per share on delivery of our ASIC's. I know were not issuing dividends until we receive the hardware but that's a better (MH/s)per share rate then most if not all our competitors. Were planning on issuing 300 new shares on Monday at BTC0.30 each to take us to >51.6(MH/s)per share. Although if we can shift another ~1400 shares at BTC0.30 we would be operating at >54(MH/s)per share or 1(GH/s)@< BTC5.55. Just thought I'd let you know. We've been operating over seven months now and I know Nefario personally. |
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We need to sell another ~250 shares @BTC0.30 to fully pay for ASIC #3 to take us to 120(GH/s) and 48(MH/s)per share. If I issue another 300 shares and we can then sell a total of ~850 shares @BTC0.30 we can purchase ASIC #4. Taking us to 160(GH/s) over 3100 shares or 51.612903226(MH/s)per share. So shall I issue the 300 shares and stick everything we got (meaning we need to sell ~850shares @BTC0.30) on the market to purchase ASIC #4 taking us to 160(GH/s) over 3100 shares or 51.612903226(MH/s)per share. If no disputes the idea then I'll issue the 300 shares on Monday for ASIC #4. Meaning we have to sell ~850@BTC0.30 each.
I priced that at $10/ BTC1 so the (MH/s)per share may end up higher if the exchange rate stays like this or climbs. |
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We need to sell another ~250 shares @BTC0.30 to fully pay for ASIC #3 to take us to 120(GH/s) and 48(MH/s)per share. If I issue another 300 shares and we can then sell a total of ~850 shares @BTC0.30 we can purchase ASIC #4. Taking us to 160(GH/s) over 3100 shares or 51.612903226(MH/s)per share. So shall I issue the 300 shares and stick everything we got (meaning we need to sell ~850shares @BTC0.30) on the market to purchase ASIC #4 taking us to 160(GH/s) over 3100 shares or 51.612903226(MH/s)per share. If no disputes the idea then I'll issue the 300 shares on Monday for ASIC #4. Meaning we have to sell ~850@BTC0.30 each.
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Just completed my first trade with Matthewh3 GBP - BTC. £180 bank transfer to Matthewh3 and 24.58922336BTC received - all within the hour. Pleasure doing business  Ty. |
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Yeah you could use an Atom Nettop (don't think laptops/netbooks are made for 24/7 usage) or even a RaspberryPi.
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I know it is technically possible. I can think of two ways:
Change the Bitcoin source code and the block chain.
Change all the bitcoin clients and online wallets, etc.
But will we ever have consensus?
First of all, why move it at all:
Today a bitcoin at 12 bucks its probably fine, but at $100 or $200 (or $1,000 etc..) it will give a sticker shock to new users and the adoption rate will slow down.
Also, when using bitcoins, it seems better to pay with 1 or 2 bitcoins for something and not with 0.001.
Many people have suggested just calling the new units mili, micro, bitcent, etc. but the brand awareness is “Bitcoin”. We should stick with it.
When a stock splits to maintain an affordable level, the new stock keeps the name it had even though is not the same thing.
When a country wants to remove zeros from their currency, generally they just do it and the new currency maintains the old name. Maybe calling it “new” for some time like New Peso, etc.
So the questions are:
1. How can this be done (if ever)?
2. Should it be done?
I had the same idea a while ago and still think it's a good idea although most people either don't care or are against the idea. |
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Matthew/all, I just wanted to say in public (even if the sale is not approved by the investors) that I am one of the two people offering to buy £180 of BTC. On another note, if I become an investor can I approve the sale of BTC to myself If your using the coin to buy shares then yeah  |
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Current wallet ~BTC104.39, shares distrubuted ~2180. At current exchange rates we need to sell another ~300 shares at BTC0.30 to fully pay for ASIC #4. This would take us to 120GH/s over ~2480 shares or >48(MH/s)per share.
What I need to know is when to sell coin for the VAT fees as I currently have two buyers for £180 of btc each and this would cover us for the VAT fees of the two purchased ASIC's. Even tho we don't need the cash until maybe November while I have the buyers with cash ready now it may be a good time to sell. Although prices could rise considerably by November but they could also fall. So what are investors feelings on me selling the btc now for cash so we have the VAT fees read in cash? Or take a gamble on the price rising by November but that could mean a MtGox sale with the associated trade fees and a £25 international wire fee?
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Alternatively you could avoid bringing legal attention to bitcoin by using your brain to avoid getting scammed.
A scammer tag in bitcoin community is more powerful than a tax - avoidance judgement. Cause then you are done with the ladder profits. Cheers Zyk costs nothing but time to start a new identity/identities on the forums. if you can make off with $5m just by posting on a forum for a year, I'd be working round-the-clock, posting from multiple accounts and lying my guts out to get the money. unless of course I was afraid of getting thrown in the slammer MNW |
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MNW never took anyone's money trying to sue him on a broken promise is absurd or is that just the american way to sue for anything and trying to get him deported is wrong.
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Sure, if cablepair thinks so. Cool ask him then he told me to set up an account for CoinConnect. I'm the sites mod/admin. Thanks. |
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Our current wallet is BTC88.79 and we need around £360/$560/€450 of cash to pay the 20%VAT fees. The current MtGox 24hr average is £7.10534 so going to try and sell BTC50.00 for £360 or BTC25.00 for £180 so the 20%VAT cash is in my bank account for quick payment. I'm trying to do a private deal so we don't pay the MtGox trade fees or the £25 international bank transfer fee. That would leave us with BTC38.79 and 472 shares@BTC0.30 each towards ASIC #3.
I know the first board won't even ship for at least six weeks but I don't want our board(s) caught up in customs. Also I will make sure the cash is in my bank before sending the coins to the buyer.
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matthew3,
1. is your ASIC mining rigs ordered from 'Tom' 'cablepair'? Has the order been placed or paid yet?
2. can you show us some evidence about having placed the order or the connection between you and 'Tom' 'cablepair'? (like ask cablepair to post a short confirm words here that he knows you and talked about the FPGA and ASIC with you, you have placed the order and paid money. or you can give us some screenshots.)
3. when do you expect that these rigs will be in your hand and mining based on all the information you have?
No so far we have only ordered two BFL SC Single 40GH/s ASIC as we ordered before his product was available for for pre-order. We could look at 'Toms' btcasic.com next if they work out better value. I don't know anyway I can prove I've ordered off BFL I think you'll just have to trust me but you should know I have bought over 250 shares my self in RSM out of my own pocket. You should know I want my investment to make me good returns and I plan on buying more shares out of my own pocket. |
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Added this to the OP so the long term goals are clear.
50% of profits will be reinvested into more hardware to increase the (MH/s)per share rate. Once we have more hardware than I can house for free if renting accommodation is not viable then the 50% reinvestment will drop to =<25% and the other =>25% will be used to invest in other high yielding mining company's that have a strong organic growth plan and/or GLBSE investment funds. The dividends RSM receives from these shares will be treated as normal profits and paid out in the normal way.
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Just started on this pool with litecoin (hope to use it for my ASIC's too) but this litecoin mining calculator - http://www.litecoinpool.org/calc?hashrate=5.62&difficulty=9.40447348 - Says I should be earning ~0.60ltc per 24hrs period according to my 24hour average effective hash rate and I've been mining with you's for over 36hrs now and only earned ~0.32ltc - what am I doing wrong  |
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Hi can anyone tell me what to do if you use MtGox and Google-Authenticator and your phone packs up or you loose it. Thanks.
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It might want to consider micro-investing in a GLBSE listed mining company. Like mine RSM - https://bitcointalk.org/index.php?topic=63257.0 - each BTC0.30 you invest gets you 46(MH/s) or 1(GH/s) for BTC6.50. If we can sell enough shares for our third 40(GH/s) then we will issue more shares for our fourth to take us to >50(MH/s)@ BTC0.30(per share) or 1(GH/s)@ BTC5.95 |
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>throw disadvantaged minorities in prison for victimless, drug-related crimes. >force them to work for less than a dollar an hour > ?? >PROFIT
Federal Prison Industries (FPI), a corporation owned by the federal government, employs more than 13,000 inmates at wages from 23 cents to $1.15 an hour, making everything from military apparel to call center and help desk support to solar panels and selling the products to the Pentagon and other federal agencies.
FPI, also known as UNICOR, operates inside 83 federal prisons and made more than $900 million in revenue last year.
In March Tennier Industries, which also makes military clothing, fired more than 100 employees after losing out to FPI on a new $45 million contract from the Defense Department.The US has the highest per capita prison population by a long way. Maybe this is one of the reasons why? |
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Update
~2050 shares on market, 562 remaining to be sold for the third ASIC. Two BFL SC Single 40GH/s ASIC's paid for current wallet ~BTC62.392. This will enable us to fully pay the 20%VAT on both ASIC's and starts us saving for our third ASIC which will take us from current (~39MH/s)per share to (>46MH/s)per share. If those 562 shares sell we can issue another ~575 to purchase our fourth ASIC to take us to over (50MH/s)per share. We may also look at btcasic.com ASIC's before paying for our next if they can beat BFL's (MH/s)/$ rate and if I can get us a discount too.
What I need to know from investors is when should we sell some of our BTC62.39 wallet for the possible up to £375/$600/€475 20%VAT fees. If the coin price is to drop then we could be in trouble but if prices are to rise we are laughing. The VAT fees need to be in my HSBC savings account (so I have quick access) within six weeks anyway or on news of BFL starting to ship. I think prices are going to rise in the next six weeks but if they were to drop we could have a dilemma unless we have sold lots of more shares.
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