I'd not go for this, it's not signed properly.

I confirm that optimalbitcoinminingcorp is actually dubious. I've been dealing with him over this for the last few days.

Nefario.

Sense, this doesn't make any.

watching thread.

Yeah, we've got the forum http://glbse/forum/ but I know that's not enough.

What I'd like to do is to have a forum per glbse listed company, such that only shareholders are able to use it. And have something like a public company page.

I wasn't saying he should hire someone for PR, I was saying that he doesn't need PR for his company at all.

And his job isn't to answer questions, it's to make good payments on dividends.

Nefario.

Actually the return is much better than you think. He's managing that return (between 5-30%) in a deflationary currency, as opposed to an inflationary one. Such a return in an deflationary environment isn't supposed to happend according to the deflationary spiral theory  , the earliest investors are the biggest winners with this, and should be as they had the biggest risk.

To demonofelru, the issue is that he's getting bashed for not answering SOME forum users or these users are not satisfied with his answers.

He's provided enough information for people to make decisions on whether to buy or not. He's not obliged to answer peoples incessant questions. He can if he wants but he's not required to, and to a large extent it wouldn't help if he did. CEO's of normal companies aren't at the beck and call of everyone on a forum, they've got real work to do.

His attitude is less than optimal? Whats optimal?

His goal has been to get as much btc profit for shareholder as possible, that's it (less his fee), he's put plenty of information out there and looked for SH feedback plenty of times. He's stating a fact when he says the company is his. What's wrong with the attitude? What more do you want?


The difference here is that if he runs with the money there will be no consequences beyond his reputation being ruined, whereas if he stole from the restaurant he'd be arrested and probably jailed.

I don't see there being a need for him to have a PR department, this is a simple business. Sell shares, use capital to buy equipment, use equipment to mine bitcoins, pay said bitcoins to shareholders. Repeat. All that matters is the numbers.

I think anyone reading this thread should have a look at this post.

http://forum.bitcoin.org/index.php?topic=5750.msg216289#msg216289

It would answer a lot of questions that are likely to pop up.

To clarify some things to questions and statements on this thread, there is a lot of missunderstanding (and wrong assumptions).

Firstly with regard to the IPO, a founder (the person who starts a company) can issue themselves shares in an IPO, usually they have a large majority(think Facebook founder Mark Zuckerberg). It's also known as sweat equity and is the norm. The company founder is not required to buy their allocation of shares when a company is made public (what a silly notion).

Secondly Dishwara has in his personal ownership over 1000 shares of DISHWARA, if you look back to the begining you will see that he made this very clear. He issued 1000 shares for himself, and then using his own personal bitcoin bought more.

At the time of issuing one share was 1btc, and 1btc was valued at $0.7 USD. So he has not valued his investment (of time and effort, AKA. sweat equity) at $14kUSD. It's as a result of the value of bitcoin rising since he begun that his investment is worth this much.

Dishwara is as a result the largest single shareholder, and the majority shareholder of this company(at over 51%). He is both the CEO and owner.

It's important that the founder has a large stake (share) in the company otherwise they have no incentive to work for it's success.

He was also the first company on GLBSE to pay a dividend.

He is also so considerate of his other shareholders that he (with his majority share) has decided not to receive dividend payments for himself (which would mean he would get 50%), and is only taking a 10-20% charge(I'm unsure of the exact amount, that's not clear) of each dividend payment, giving every onther shareholder almost double what they would be otherwise entitled to.

He is holding those shares in the companies GLBSE account as this is the only way to prevent them from getting dividend payments(this may be where some of the confusion has come from).

In terms of his reporting he has been as forthcoming as he can(posting on this thread regularly keeping everyone updated), but he is only one person. He could hire an accountant to have proper records and accounts put up, balance sheets, profit and loss statements etc. But that would pretty much use all the mining profits to do so, is that what you want?

The internal expenses are really of no concern to shareholders. Companies listed on major stock exchanges don't have every nitty gritty detail of their accounts put up, they hire an outside auditor (such as KPMG) to do anual public accounts (or quarterly) to give an overall view of the company.

Information that is available to investors is the shareprice, and the dividends that have been paid. I will be adding those features to GLBSE, they're just not there yet (although the information itself if there).


Now lets move away from company practice for a while and look at some real world facts.

Dishwara live in India, and is despite the difficulties managing to run this (I know from personal experience what it's like trying to do something like this in a developing country, I live next door in China), which is not easy at all.

He is a semi anonymous person, no one here knows where he lives(apart from the country, but good luck finding him there).

There was nothing stopping him from taking your bitcoin and running away, there are noo police that can get him, to is no regulator that will fine or imprison him for cheating you, or not doing his job.

In short you have no way to enforce your will or rules on him.

And despite this he continues, working, running his miner, and more importantly paying dividends, on terms much better than he's required.

If you don't want to invest fine, but I wouldn't complain about the way Dishwara has been running his company. I think he's a great example of how to run a small semi-formal venture using outside micro-investment, and it seems at this rate he's going to manage to pull it off and deliver an overall profit to initial investors.

Nefario.

Someone should, but I don't think that will really work out though, it's a nice idea, just not practical 

Oh it's possible.

We're going to be kicking this into the next grear tomorrow by throwing more resources at it. To top it off I've figured out something of a technical issue that was in the way.

I'll also be selling shares on GLBSE for the project, this is going to be big.

Nefario.

Bug has been fixed, markets back up, sorry for the downtime.

Nefario.

Ive fixed the dividend bug and cleaned up the mess, so everything (paying dividends) should work fine.

Nefario.

Servers and market is back up, bug has been fixed (bloody should be at least).

Should be able to pay dividends.

Nefario.

Some bugs in dividend payments has popped up, so the market is down until I fix (I'ev a good idea what it is so shouldn't be too long).

Nefario.

I think this nolonger needs to be a sticky.

With regards dividends, tawsix attempted to make a payment but got an error, it's something I'm investigating ATM.

Nefario.

Hey ripper, thanks for the post.

So right now glbse is owned by BitcoinGlobal, and no the shares are not on the exchange yet, they will be however we have some requirements for our shares that means we have to wait for our implementation of smart contracts.

At the moment we don't need funding (at least not for GLBSE) however we will be looking for funding for one or two of our other projects (Bitdrop, Nomicoin, and CryptoCloud), and we'll be listing shares on GLBSE for that(shares for each project).

Happily this college term is coming to a close(I'm a teacher, not a student) and I will be able to spend some real time working on GLBSE (everything we have so far I've done in what little spare time Ive got after my normal job, extra part time work, and my family). So we'll see a lot of features soon enough. I'm also hoping to be able to work full time on this project in the near future (after college term starts), and I'll see what the options available to do so over the next couple of weeks. Also I've gotten some help from other developers I've hired, and will be hiring more.

In terms of development, feast your eyes on THIS(it's our web client, I've not put it on the home page as I want to make a good few improvements before doing so)

Email is in my profile, doctor.nefario@gmail.com

I've also hired someone to work on the documentation.

The roadmap is in no particular order.

In short I agree with you, and I'm doing my best, but I'm limited for a number of reasons.

If you want to help (oh god I could use good help, someone who gets shit done) that would be great, pm me your skillset and how involved you want to get. I could really use a right hand man for a lot of this.

Nefario.

Interesting, I hadn't realised that there was such a thing as "an illegal website" in America, illegal content yes but a website that's illegal?

And they want to seize the domain, that's sweet.

I was under the impression that is something was essential then people would pay for it themselves, because they need it. Otherwise it's not essential.