That is part of it. 1. Get selling criteria (What bond ticker to sell and how many of them to sell.) 2. Verify connection 3. Synchronize clock with GLBSE. 4. Time to sell? If not then go to 3. If yes, curl to post quantity=3000&price=100000000&ticker=PPT.D to https://glbse.com/api/market/buy/API-ID/API-KEY5. Sell bonds. 6. Evaluate results (save bond sale history, email whoever) 7. End Neee.. You can just use runat or put the command into cron or windows scheduler, if you prefer. And the GLBSE clock is pretty well synchronized - just synchronize yours to some NTP server. Besides in the past, except for the last time, you were +/- 2 min accurate. 6. Evaluating results - it's obviously a different task, though number 7 - the end - this one seems quite trivial  Guys, if you need a genius to solve such a challenges, I'm here for you  |
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Who cares - you can see from the dividends section that its 6.8 GLBSE probably does not allow to edit this content. |
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Oh, and one more thing: the clock on your server is 6 hours late GLBSE Time should be EST, what time zone are you in? I don't understand the problem. The website clearly states: GLBSETimeIt's an inconvenience, rather than a problem. Seeing any time of a past transaction or a dividend, I need to add 6 hours to get the idea of when it actually happened. Though, probably after a year or so of decoding GLBSETime, I will learn to do it much quicker and it won't be inconvenient any more..  |
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GLBSE Time should be EST, what time zone are you in?
Well.... I'm in a better time zone My point was: please make the zone configurable in the user profile, or use javascript to display local time of the browser - almost every webpage has such functionality nowadays. |
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Everyone assumes there's a risk of default because of paying out 7%.
If the deposits are 10000 bitcoins, then that would be only 700 bitcoins. There are plenty who make a lot more than that pr week. People speak of how much it is pr year, compounded - but that's assuming that he takes on deposits all the time. Even if he does increase his operation, it might be by less or more than these 7%, so there's no backing for such an argument, unless you know the numbers involved.
Just the passthrough listings on GLBSE are around 50k bitcoins. That doesn't include the Pirate passthroughs in the lending section, or people who actually have deposited directly with Pirate. But 50k BTC is only a few kilos of coke - I believe the weekly consumption is far, far larger all around the world. And then add all the other drugs that need to be bought in bulk and re-distributed in retail... 50k BTC is probably still too short to cover all the needs of the business And don't worry: the big drug business is pretty much owned by CIA, so it does have a future... |
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Oh, and one more thing: the clock on your server is 6 hours late |
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If this is a wishing thread then I would please like to have a possibility to fetch my transaction list outside the browser session, using the "Private GLBSE API" And also, it would be nice if you could put some reference (at least a ticker name) in the "fee" rows of this list - so one could easily figure out to which buy/sell/transfer transaction the fee actually applies. Because some fees appear on the list before, while other after the transaction... |
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I was always wondering what happens if I'd try to transfer shares to someone having not enough BTC for the transfer fee...
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i did not receive any dividend payment too: TYGRR.BOND-P
this was my last payment: 0.272 TYGRR.BOND-P 2012-06-05 10:05:58
TYGRR.BOND-P has not been paid yet. This thread is about TYGRR.BOND-B - which has already been paid today. At least to me.. |
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What I want to add, is that it will still need time for the difficulty to rise as crazy after ASICs are mass produced. Because the producers of ASICs will not price them based on the cost, they will control the supply and find a optimal price to maximize their profits. And the replacement of hardware will make many old miners quit and hence lighten the increase of difficulty for a while.
Unless the guy doesn't sell his first million of chips, but just use them to mine himself. Though, logistically this would be pretty much of a challenge But quite doable for a big company, like IBM or Samsung. |
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OK - then I was wrong, sorry. There is no SHA256 computing ASIC yet, that we would know of. And moreover, if anyone else is working on his own chip, he doesn't want to disclose this information.
There is a lot of money on stake here and turning an FPGA solution into a much cheaper ASIC chip is relatively easy nowadays.
This is possible. But turning FPGA to ASIC is not cheap (the initial capital cost), and I don't know if it's very profitable given the current tiny market cap of the whole Bitcoin economy. So you know the stuff. And you can confirm that, if you have enough money (like a million dollars, or so) you can turn any FPGA application into a silicon - which takes how long... about a month? And then you can manufacture your chips in millions, for less than a dollar each - right? And this is the moment which, as you nicely phrased it, gets the difficulty into the stratosphere - and makes all the non-adjustable mining bonds worthless. It may as well happen tomorrow |
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Why would it grow? I already told you why: so Gigamining would not end up dead. Otherwise it will - despite of "growing" It is a bond, not a share, the bond issuer wants their debt to end up dead. Doesn't everyone? Well, that's a good point But GIGAMINING is not only a bond - it's also a business and a mark. I was just thinking that GIGAMINING would maybe prefer to stay alive on GLBSE - having a reputation would make a further business easier. Instead of just dying and re-appearing as GIGAMINING2, that gives 10MH/bond - which would make the business harder, because of the reputation |
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Why would it grow? I already told you why: so Gigamining would not end up dead. Otherwise it will - despite of "growing" |
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Of course it will happen. ASICs are there already and they will be getting cheaper and faster - month by month...
As far as I know, ASICs for Bitcoins are still in the designing phase and no actual chips are mining now. Could you point URL to me to support "are there already" please? AFAIK, the butterfly labs hardware is based on ASICs. And moreover, if anyone else is working on his own chip, he doesn't want to disclose this information. There is a lot of money on stake here and turning an FPGA solution (which do exist) into a much cheaper ASIC is relatively easy nowadays. If the 5MH/bond stays fixed forever, the dividends will get lower and lower and the bond price will eventually go down to zero - it's only a question of when.
Anyone buying it are aware of this. They are all betting that the dropping of dividends will be slow enough to let the cover the initial price. You are just the one who bet on the opposite. If you are so confident about your bet, you could short the bonds. But it doesn't need to be like this. As the business is growing, thus buying more efficient equipment, I see no reason why the promised 5MH could not grow along with it. Otherwise new mining companies will appear, offering a better hashing power for a lower share price - while Gigaminig will end up dead. |
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Or am I missing something?
Yep. THe fact that asics will push up difficulty into the stratosphere, rendering those 5MH even more worthless. If anyone thinks Im wrong and wants to lend me these bonds for 6 - 12 months, pm me. Of course it will happen. ASICs are there already and they will be getting cheaper and faster - month by month... Having the new money gigamining will obviously buy a new and more efficient hardware - so for the current investors "growing" of the company makes sense only if the promised 5MH also keeps growing, along with the total number of shares... If the 5MH/bond stays fixed forever, the dividends will get lower and lower and the bond price will eventually go down to zero - it's only a question of when. And @ some of you guys, the big mr economists: you may be well educated on the field of economy, but you suck in basics of a logical thinking. |
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To all gigaminers:
I have taken the time to read the three new pages of posts since I left my hotel room this morning. I understand the concerns of recent market fluctuations and only hope that you can keep confidence both in gigamining and myself.
Gigamining is growing at a rapid rate, and this is was requires my attention at this time.
Best,
gigavps
Gigamining is growing - great, it must mean something good, we are all happy! So maybe now you could turn 5Mhash/share into at least 6Mhash/share? |
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Grow up. Gig offered the bonds publicly, took an unjustified shellacking from nefario when he didn't tip him out, and handled everything in an up-and-up fashion.
Is it unfair to those who bought btc at 5 because some of us spent thousands of dollars buying and mining it from $0.06 to $3?
Always blame yourself for your fuckups and your life will be a lot better. You'll "learn" from your "mistakes" and be in control instead of a perpetual victim.
sound like a real prophet |
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If I understand what is going on here - please correct me if I'm wrong: GIGAMINING recently sold 13500 new shares to someone, under the counter, at the price below 1.0 and the new "investor" have decided to make some quick profit by dumping a few thousands of his shares onto the market - right? Well... that's great - knowing that makes me really happy for buying my GIGAMINING shares at ~1.45. Now I know that you really take a good care about all your small investors and their interest If this is true it would have been a profoundly stupid thing to have done. I don't believe he did it. For one thing, it was not necessary. Secondly it will destroy confidence in his issue in several ways.. for one, it will lower his share price permanently both as a result of lost confidence (why should I buy at the current price, just wait for the next deal) and because if you buy in at 0.9, you can turn a quick profit at 1. And 1 is a 33% loss for everyone but you. I don't really believe this was done. i could see 1.25 if all the shares were sold at once. But under 1? Who's that stupid? That is why I said "correct me if I'm wrong"... But no one has done it so far - though, there have been many people advocating this kind of approach... |
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Fine - I'm a socialist and I know nothing about economy - call me like this if you will, it doesn't sound offensive to me. And moreover, I will keep these few tens of bonds, hoping that the dividends will pay me up the difference one day... But I said what I had to say: I don't think these new bonds were sold out quite perfectly. |
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