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18181  Other / Off-topic / Re: BitForce SC - Pre order delay on: June 23, 2012, 05:30:29 AM
Will the BitPay payment form support trading in Singles? Can I specify that I want to trade in a Single and only pay you $700 in btc right now for a SC Single?

+1
18182  Economy / Securities / Re: [GLBSE] NASTY - Free Electricity, GPUMAX.com, Free ASIC Upgrade! on: June 23, 2012, 12:13:36 AM
It looks like we can expect our ASICs in October.

http://www.butterflylabs.com/bitforce-sc-release-notes/
18183  Economy / Goods / Re: Silver for your BFL Single on: June 22, 2012, 01:33:12 AM
I'd offer 20 ounces and a few BTC.

Are you offering or are you suggesting?

I was saying I'd give someone 20 ounces of silver for a BFL Single.   Wink
18184  Economy / Securities / Re: [GLBSE] NASTY - Free Electricity, GPUMAX.com, Free ASIC Upgrade! on: June 21, 2012, 07:46:22 PM
UPDATE:
More than 5GH/s has now been ordered for this operation.

So what exactly is the situation.  Is this additional hardware or is nothing currently mining?  What is the ETA to be mining / anticipated dividends payout?

We have several units on order with Butterfly Labs currently. A couple of the units were ordered 5+ weeks ago. I'd imagine we'll have them whenever BFL completes their next production run. If I can get one sooner from a 3rd party for a reasonable price, I will do so. No matter what happens, I'm planning to start paying dividends in some form starting in July.
18185  Economy / Goods / Re: Silver for your BFL Single on: June 21, 2012, 07:41:46 PM
I will take 40 ounces for one single.

Let me know.

I'd offer 20 ounces and a few BTC. 40 ounces is more than double the price of a single...
18186  Economy / Lending / Re: What is this pirate 7% compounded i see? on: June 20, 2012, 11:13:58 PM
I'm more greedy than skeptical.

Also with a bit of an honest streak.
18187  Economy / Securities / Re: [GLBSE] NASTY - Free Electricity, GPUMAX.com, Free ASIC Upgrade! on: June 20, 2012, 08:48:09 PM
UPDATE:
More than 5GH/s has now been ordered for this operation.
18188  Bitcoin / Project Development / Re: GLBSE - request for next features on: June 20, 2012, 05:00:19 PM
The graph only shows bid/asks which are within 15% of the best bid/ask.

yep, it's perfectly fine, clear & useful - I wish that GLBSE would do this too.

I've asked for this feature before & others agreed that your charts without it are useless atm, can you implement it or state why not, thanks.



A good useful chart




A bad completely useless waste of space chart

PS - why don't you reply to my emails about releasing the 130 BTC from my balance that has been unavailable to me for about 2 weeks now!

Doesn't Nefario work with the Intersango folks?  It seems like this should be pretty easy to implement, given that Intersango is already doing it.
18189  Economy / Securities / Re: IMPACT on: June 20, 2012, 04:43:41 AM
I only got 100.  This is an outrage!   Angry
18190  Economy / Securities / Re: [GLBSE] NASTY - Free Electricity, GPUMAX.com, Free ASIC Upgrade! on: June 19, 2012, 11:36:52 PM
i would suggest, that at there should be a reserve in bitcoin totaling at least 10% of the ognastys market capitalisation to hedge ognasty against volatility and another 10% in dollar/euro.

i don't mind if you pay out dividends at all, i would even prefer to not beeing payed dividends if the aquisation of capital could be neede in the near future, cause own earnings are much cheaper than taking a loan, offcourse.

So i would prefer the paper-only earnings rather than dividends. but this is anyway something that needs to be discussed by the shareholders!
(dividends vs. capitalparking is always the main issue at stockholder meetings)

I like those ideas, and I agree that they would be best for the long term growth of the company.  Once we start seeing some profits I am definitely willing to put up a few motions to see if shareholders are interested in taking a portion of the profits and using them to invest or save.  When it comes to what to do with the profits, it is up to the shareholders.  Most will want dividends, but I could see a motion to use a % of profits for a transparent investment portfolio passing.
18191  Economy / Services / Re: Gigamining / Teramining on: June 18, 2012, 11:55:42 PM
quite a few of the mining bonds sold here are with the intent to use the funds from the bonds to purchase equipment. NASTY, for a recent example.

NASTY is a share of a mining company, and not a bond.  Although I understand the confusion in the way the IPO was structured to be 1MH/s per share.   Wink

https://bitcointalk.org/index.php?topic=86854.msg972853#msg972853
18192  Economy / Securities / Re: [GLBSE] NASTY - Free Electricity, GPUMAX.com, Free ASIC Upgrade! on: June 18, 2012, 11:22:40 PM
So from that, as a possible investor (I've thought about buying in as I just want the weekly returns on 1mh/s. If I buy in and have a share, and you upgrade equipment, am i on 1mh/s or 20mh/s on the upgrade date or delivery date? I'm assuming 1mh/s.

The 20MH/s would go into effect upon the delivery date of an ASIC miner.


But for x months you are willing to pay out of your pocket? For any normal person this can only happen for a few months,what happens if bfl never deliver,or deliver below the 20mh/s?

Obviously I'm not going to pay dividends out of my pocket forever and I have no plan to start doing so at this time.  If delays become longer than anticipated, that is one option I have to compensate shareholders for their trust and investment.  I don't think anyone I've dealt with in the past is concerned that I'm not going to compensate shareholders.  At this time, any announcement as far as extraordinary compensation would be premature.


Would it not be best to start a new bond for the hardware?

No.  I have no intention of ever issuing a bond.  I think issuing a bond in the face of the coming mining environment would be taking advantage of investors, which is why I specifically structured this investment as a share of a company.  It leaves the door open for a lot of growth for shareholders that would otherwise be unavailable.


Would it not be best to start a new bond for the hardware?
NASTY is no bond! IMHO thats why it would be best to stick to this security.

Amen.


@NASTY what if competitors double your Mhash/s per BTC
Is 20 Mhash/s is just a rough guess and the actual hashrate could be higher too?

I'm not worried about what my competitors do.  The 20MH/s was an educated estimate using the figures published in Butterfly Labs' press release.  The actual number could be more or less depending on the final figures released by Butterfly Labs.  However, I think 20MH/s is a realistic expectation at this point.
18193  Economy / Securities / NASTY MINING on: June 17, 2012, 10:12:41 PM
I agree with what you said. But up to 20MH/s, can be as well only 1.1 Mh/s, see the cellphone contracts. You can reformulate as "20MH/s provided BFL doesn't change the initial unit parameters and upgrade conditions."
For sure it will provide piece of mind to investors.

Is this a major concern?  I think my reputation would speak a little for me here as I am not out to scam anyone, but instead provide a useful investment option to protect investors against the coming losses of 1MH/s bonds currently trading on the exchange.  I will trade any organization owned equipment for BFL's ASIC miners once they are available.  Once the exact figures are released and confirmed, I will be able to make a definitive statement.
18194  Economy / Securities / NASTY MINING on: June 17, 2012, 08:47:29 PM
Hi there,

I find your offer interesting. Can you please clarify the statement "up to around 20MH/s" baked by actual calculations?

Thanks.

The BFL trade-in program isn't official yet, nor has the ASIC statistics been confirmed, so it would be impossible to clarify the statement at this time.  Using the numbers from the announcement, I made a general statement about what shareholders can expect once the trade-in is completed, in order to provide a realistic expectation for the future.
18195  Economy / Services / Re: First person to make me laugh gets 1BTC on: June 17, 2012, 04:47:51 PM
A bear and a rabbit are walking through the woods.

The bear turns to the rabbit and asks, "Do you have a problem with shit sticking to your fur?"

The rabbit replies, "No."

So the bear wiped his ass with the rabbit.



Do you know how to catch a polar bear?

You dig a hole in the ice, and put a handful of peas in it.

When the polar bear comes to take a pea, you kick him in the icehole.
18196  Economy / Securities / NASTY MINING on: June 17, 2012, 04:24:40 PM
Getting on board the ASIC train Wink

It appears that this train is "ride or die" for Bitcoin miners.
18197  Bitcoin / Bitcoin Discussion / Re: Using MEMES to explain bitcoin's appeal, its problems, and my proposed solution on: June 17, 2012, 02:38:27 AM
It was good until you started talking about coins with chargebacks.
18198  Economy / Invites & Accounts / Re: [WTS] Diablo III Battle.net Account on: June 16, 2012, 11:49:35 PM
Would take 7.5 BTC or best offer.
18199  Economy / Securities / Re: [GLBSE] In the Trading Pit with BMF: ASIC Mining Now a Reality on: June 16, 2012, 08:21:13 PM

Interesting. How will you handle the transition and prevent allegations of insider trading? I assume that you have shares in NastyMining, so there's no real way for you to avoid a conflict of interest.

When more information regarding ASIC development and the BFL trade-in program is made public, shareholders will find out the same time as I do.  I don't think insider trading is a big concern.  I won't know exactly how the transition will be handled until the details are announced.

Everyone should find out about the trade in program at the same time, but the transition from a 1MH/s bond to a 20MH/s bond is a huge one that's under your control.

Let me propose this scenario, and I'm not saying you would do this. It's just something that could possibly happen.

A miner issues 20000 shares of a 1MH/s mining bond, selling 10,000 of them at the current price of about 0.30BTC. This brings in 3000BTC.
In 6 months BFL products hit the market, and a 1MH/s mining bond is selling for ~0.03BTC.
The issuer buys 5000 shares of his bond on the market for 150BTC.
The issuer amends the offering to be a 20MH/s bond. Dividends shoot up 2000%. The bond starts trading at 0.6BTC.
The issuer slowly releases his new 5000 shares for 0.6BTC, collects 3000BTC.

Since the market is aware that this transition to ASIC miners is going to happen and I have made that very clear, I don't see why the price would fall to 0.03BTC/share.  If it did, there would be no harm in buying up all the available shares on the market, as that is what a free market is about.  As long as the buyer didn't have any inside knowledge that wasn't available to the public, I don't see the problem.  That is why I will continue to make the company's plans very clear.
18200  Economy / Securities / Re: [GLBSE] In the Trading Pit with BMF: ASIC Mining Now a Reality on: June 16, 2012, 07:30:05 PM
If you wanted to earn dividends mining with Bitforce Singles on GPUMAX.com until they can be upgraded to ASIC Miners:
https://bitcointalk.org/index.php?topic=86854.0

Why should investors in your shares care whether their 1MH/s is going to be produced by ASICs or singles, other than the small difference in power usage between the two?

They should care because (see below quote).  While 1MH/s bonds will be paying out only the proceeds of their 1MH/s, NASTY shares will be upgrading to ASIC Miners with the BFL trade-in program and giving shareholders the benefit, potentially raising the per share hash rate to 20MH/s!

ANNOUNCEMENT:
With the Butterfly Labs ASIC miners coming soon, NastyMining is pleased to announce that we will be participating in the FPGA->ASIC trade-in program once it is made available.  This will bring the hashing power per share up to around 20MH/s.  Once the trade-in program is completed, the contract for this offering will be updated to reflect the new terms.

Interesting. How will you handle the transition and prevent allegations of insider trading? I assume that you have shares in NastyMining, so there's no real way for you to avoid a conflict of interest.

When more information regarding ASIC development and the BFL trade-in program is made public, shareholders will find out the same time as I do.  I don't think insider trading is a big concern.  I won't know exactly how the transition will be handled until the details are announced.
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