Cognitive is Garr255's thing and BTCSYN is BTC Syndicate, both of them have nothing to do with HorseRider, so I don't really think that's fair. Unless I'm wrong in which case, please carry on with the mental shit-list

Never heard of Data Centers? Believe me, if you have a $15k-$30k worth of kit, you don't want it lying around home. You'll be stressed to hell and back when you leave home for any extended period of time.

On the other hand a Data Center, has improved security, CCTV, and so on. - I would find it tough having my rigs at home if they were over a certain value and power cost.

You see THIS is free market people! No Cease and Desist letters anywhere to be found, no big boys clubs and lobbies... This is the true capitalist dream where people are given free speech and free choice but at the same time the responsibility that comes with it.

And BTW, I say give the OP the benefit of doubt, history and time will judge us all. Having said that nobody should be able launch such libel against another member wether their right or wrong, if they can't back their claims.

You insist with your extremely simplistic calculations that do not account for many factors.

No offence but you either need to work on your math skills or business skills. Either way go check my math a few posts back and see why at 1BTC/5Gh it's a good deal.

Although like all investments there's a chance that within the months it will take to brake even the BTC will crash, people will lose interest and god knows what.

The only realistic big lose scenario is if gigavps desides to buy back in say 6 months while manipulating the stock to be extremely cheaper (say 0.20btc + the promised 5%) than it was when you originally bought it. But I think Gigavps has a better reputation than that to pull a fast one.

And there's nothing wrong with that. The way I see it, he has a great reputation and if he makes a great offer then it's a win/win for everyone and thus these shares are going to fly off the shelves like hot BTC cupcakes.

I need someone to be prepared to receive letters for me, OCR them and email them, in confidence.

I'll pay 0.50btc per letter.

Ha! At this stage I need a spreadsheet but yea I can see that this could be a good deal for both parties.

I'm interested to see how this would compare with GPUMAX (don't have an invite thus can't compare or comment) or BTCSYN if/when they add their Icarus boards and start paying dividends (they've been delivered for a couple of weeks now and I assume they're working hard to set them up and integrate them to their P2Pool, so everything is up in the air still and I can see their share loosing ground if they can't deliver by mid-May).  


I can tell you one thing. Q3-Q4 2012 are going to be a very very fun periods. As we've reached the end of Q1, we can see clearly that FPGAs alone have proven to be quite a disruptive technology and this is only the beginning. Icarus is dead as a project and everyone is contemplating wether they should keep their money and wait for Lancelot or buy a BFL which have slowly started to get delviered and also Nanominer is coming along.

Since you have two BFL mini-rigs plus two more coming along (grats! you can be quite an interesting option for people who want "in" but don't want to either to wait months for delivery of a BFL; wait for Lancelot or any other up-and-coming FPGA project and definitely (like me) aint going to spend a penny with GPUs.

Let's see how Gigamining will develop.

Let's put it this way.. I dont want the mess, the noise and the maintenance and it will take me a couple of months to get my BFL single. On the other hand you can start now. The BFL Single was advertised for 600 MH/sec and now it's over 800 MH/sec, I say it can reach to 1Gh/sec by Q3 2012 but that's about it.

If you sell each share (5Mh/sec) for 1BTC today to brake even (ber BFL Single) you will need to actually sell 700Mh/sec on each BFL and use the rest as your pure profit. Assuming that they can push the BFL single to go higher that will give you a nice little bonus by Q1 2013.

Now since you have a mixed rig between GPUs and BFLs you will take a small profit hit (i.e. less margin) on your GPUs. I hope (assume?) that your secret plan is to use that bond money this year to buy more FPGAs and get rid of your GPUs (selling them to recuperate some of the cost) by at least Q2 2013. Which means that by Q2 2013 not only you would have managed to upgrade your farm but you'll have made a good profit at the same time doing it.

So, IPO shares should be at 1BTC (make it lucrative) then let offer and demand take care of the share price. Also I'm in if you can guarantee that there is not time limit on this and if you choose to buy them back you will indeed buy at +5% of whatever is the current share price.

Let's do the math.. Each share (is that what you mean by coupon) on GLBSE will be traded fro 1.2BTC (~$5.60 in current rates).

5Mh/s with the current difficulty = 0.101 BTC/month (~$0.47). So ROI/share will be in about 1.4 years but accounting for profitability decline it's more likely to be 1.7 years. That's not accounting for anything else but pure ROI from dividend.

Say we want to reach the equivalent of a 5970 (700Mh/s) that would cost us 168 BTC (~$783). It will generate 14BTC/month (~$65)... Same ROI obviously.


Now let's make it interesting:

* If I were to start mining today from scratch with an ATI 5970 that would cost me for one year: $650ish for the rig + $394 electricity (300 watt at 0.15kWh)
* If I were to do the same with a BFL Single (assuming I will be running it down to 700 Mh/sec and not the advertised 832 Mh/sec) that would cost me for one year: $600 for the BFL + $105 electricity (80 watt at 0.15kWh).

All of the above giving me the same returns mining-wise. On top of that add the benefits of having your mining power in easily changeable shares and the potential benefits from that.


Thus at 1.2BTC it's a good deal. At  1BTC it would be a steal




How's my math!??!

Okay I half-way retract my comment then, I will *not* love you as much as your wife. Ain't no chance I'm cooking you dinner... However, I'm still very interested in your new venture... Keep us updated.

I will love you as much as that girl on your avatar if you manage to pull this hat trick right!!! I'm In!!!

So why don't we get something organised like https://www.lendingclub.com/ but for bitcoins. And rate different Borrowers based on their risk.

The higher their risk, the higher the interest and thus higher the returns for lenders. So if you're a Lender and you fancy some risk and high returns then you'd go for a higher risk Borrower.

On the other hand if you just want to make your BTC work but without any high risk, you could choose someone with a high rating and thus lower interest.


It also keeps bitcoins flowing rather than being stashed in one place.

Still interested... I'll be paying attention to this...

I had a similar idea here (https://bitcointalk.org/index.php?topic=73908.0).

Collocation of miners seems like a no-brainer to me...

PM me and we can discuss it in detail. I'm really interested....

Man, waste your reputation for $300?! Shame...

They are extremely reliable. UK transfer takes about a day, EU transfer about 2-3 days.

I've used them many times and they're my main exchange.

Is there a "request invite here" thread that I've missed or do we just politely ask here then?

Welcome to System D. Let me introduce you to your new best friends, Money and Reputation...

Okay here's an idea that poped up in my mind in another thread (https://bitcointalk.org/index.php?topic=25883.0).

Rent a flat in a cheap country, Bulgaria comes to mind since I'm in the EU (BG has a kWh of €0.0674/$0.089 for businesses, compared to €0.1019/$0.135 here in the UK). Fill it with racks and promote the equivalent of a Collocation where your customers can choose to either:

a) ship over their hardware and it will get hosted for a fixed price per month or percentage to cover for power consumption plus a small profit margin, plus maintenance/uptime (i.e. standard Data Centre concept), or
b) let the client configure a rig online up to their budget and specs and then build it and host it again for fixed price or percentage per month.


Now... remember you're in the business of hosting and not mining so you'll give them a better deal than miners and in return you get steady returns and a low startup capital (since you don't have to fork out for the hardware).


What do people think? Would you use it if there was a guarantee in regards to security, uptime and room temperature?!

I had a different idea altogether.

Why not create a website where you can sell the stamps that say "whateverdomainaboutbitcoins.com" and all the profits go to a faucet (sponsors can the buy stamps and use them to promote the idea of bitcoins). When a user visits for the first time the website walks them through the idea behind bitcoins (or link to another website that does that, like http://www.weusecoins.com/). If the new user then types in the serial number of the fiat plus their own wallet they get some bitcoins. I guess we could re-use the same  techniques/precautions as the bitcoin faucet.

On top of that you can use that platform to promote other Bitcoins-for-Free projects.

I still like bitcoinishappening.com as a domain (it's begs the question, what's bitcoin and what do you mean by "happening").