So it should read like this: 3 FPGA boards with ~800 MH/s each = ~2.4 GH/s mining power (+ maybe a RaspberryPi as controller)
2300 shares in total of which 5% (= 115 shares) are given for free to the operator for being CEO.
Dividends are paid weekly on Friday, 0000 UTC and consist of all real (not theoretical) mining income of the last week minus expenses (electricity I guess?).
...right? I'm preparing an overview of the different mining bonds/shares/assets on GLBSE and this is one where information is scattered all over the thread with the operator deciding this and that from time to time (OP reads atm 1600 shares + 700 shares, GLBSE says 1900 shares issued...) so I wasn't sure. At the moment there is 1900 shares issued (of which only 50 I kept as payment for running the company [tho I have bought more]) to operate over two boards at 1.6GH/s@80W. Another 400 are being issued (which I will be keeping 5% as payment for running the company [20 shares]) so that will be 2.4GH/s@125W over 2300 shares once we have sold enough shares for board #3. I have not issued the extra 400 shares yet but will be doing very soon. With the extra share issue we are hopefully not just buying another board but a RaspberryPi(or cheap low power PC) and a 600W PSU to run the boards as long as exchange rates treat us well. We still have over 200 shares left from the 1900 once we get down to around only 100 I will issue the next 400. So at the moment the ~3.5BTC(if it all gets confirmed in time) earned this week will be paid over ~1700 or whatever shares get sold. So this first weekly dividend could be ~0.00205882BTC per share. Once we have board #2 1.6GH/s@80W over 1900 shares is a weekly dividend of over 0.00333000BTC. Once we have board #3 2.4GH/s@125W over 2300 shares the weekly dividend will be over 0.00400000BTC per shares (even tho I stated that after we are operating over 2.4GH/s 2% of profits or 1BTC a month [whichever is greater] is going to be used by RSM to buy back its own shares to increase the price and help expand the company. Apart from that move to expand the company once 2300 shares have sold and we have board #3 I plan on putting forward the motion to issue more shares to purchase board #4 to increase the weekly dividend again. After that I plan then to put forward the motion for board #5, then #6 and so on each time to increase the weekly dividend. |
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You're displaying your ignorance on the topic. GSM is a wideband commercial product not intended to mesh. GSM cell phones have a practical range of about two kilometers, but that is to a very senitive celltower tranceiver.
I live 6 KM from the nearest mast, but Im sure you are the expert. That said, you asked me to back up my claim of 1% chance to find another bitcoin user within 300m range, it turns out to be an average of 0,00051% assuming ideal circumstances. I might be ignorant about radio technology, I do have a basic grasp of arithmetic. Do you? The 2m band the cards operate on have much better propagation effects than the bands mobile phones operate on. Also you are missing the point this is not just about BTC users and there will also be LOTS of stationary nodes too once the likes of Wall-Mart, Tesco and most other chains start issuing them as store/loyalty cards. |
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Another way of looking at it. Assume the maximum stated range of 300m. Assume perfect spreading. 30000 bitcoin users would be able to cover 51x51 Km. Out of a total of 510 million square Km of land mass. Funny that. Edit. Not sure where I got the 30K from. It seems to be closer to 5K: http://bitcoinstatus.rowit.co.uk/serversStart.pngSO all bitcoin users combined could theoretically cover 21x21Km. More realistically, only a fraction of that, barely enough to cover the small town I live in. Surely this would be the relevant chart? http://bitcoinstatus.rowit.co.uk/hostsStart.pngYours is listening hosts, ie those with open ports I think. Anyway, surely we have more users than last September (60,000), most probably can't be bothered to keep th chain up to date anymore. We could have a lot more running clients than that, since some of us have 'quite' clients, myself included, that won't show up in those scans. Those are usually based upon the ip addresses that show up in the bitcoin IRC bootstrapping channels, and there are many clients now that don't use those channels anymore. Nowadays the only reason real reason I can see in running the full client is to use P2Pool. Also 11m Freebanding rocks  I've Tx'd to Italy a few times from northern England but have now sold my widebanded HF rig. |
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You may say I'm comparing apples with oranges but what I found interesting is that the city of Salford in the UK with a population of less than 220,000 people within a larger conurbation of 2.2million (Greater Manchester) has a higher search and news reference volume then bitcoin - http://www.google.com/trends/?q=bitcoin,+salford&ctab=0&geo=all&date=ytd&sort=0 - Suppose it still has a long way to go  |
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Another way of looking at it. Assume the maximum stated range of 300m. Assume perfect spreading. 30000 bitcoin users would be able to cover 51x51 Km. Out of a total of 510 million square Km of land mass. Funny that. Edit. Not sure where I got the 30K from. It seems to be closer to 5K: http://bitcoinstatus.rowit.co.uk/serversStart.pngSO all bitcoin users combined could theoretically cover 21x21Km. More realistically, only a fraction of that, barely enough to cover the small town I live in. Yes but there will also be lots of stationary nodes and it won't just be BTC users using this device. |
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Board two will ship in eight to nine days to take us up to 1.6GH/s. So now everyone agrees with issuing another 400 shares at 0.4BTC to take the estimated weekly dividend up to at least 0.00400000BTC per share. If the exchange rates stay in our favour this will not only raise enough for another ~800MH/s@~40W board but also a RaspberryPi and a 600W PSU to run the boards. I will be keeping 5% of this share issue as payment for being CEO. If no one objects I'll issue these shares in 24hrs time otherwise I'll put it forward in a motion.
Right no one has objected and every one seems posative about it so I'm going to issue another 400 shares (5% [20 shares] of which I am taking as payment for being CEO and running the company) to raise funds for board #3. Which will take us up to 2.4GH/s and a weekly dividend of at least 0.00400000BTC per share. The first board is operating fine @0.51BTC per day the first dividend will be paid 00:00 am GMT/UTC Friday although a full weeks BTC may have not cleared. Do you want the first dividend paid later in the day or Saturday after a full seven days of mining as been confirmed and paid by the pool or should we stick to that time. Due to the company starting late I will not be charging anything for electricity this week and also maybe next week as well. Also I've found out the pool (MtRed) has currently suspended merged mining with NMC but to our benefit the pool is still 0% fees. |
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How many people carry a store or supermarket loyalty card? This is going to be big.
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Also I won't buy the device unless it can be turned off as I don't want big-brother tracking me every where I go.
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Maybe other company's will buy-in to the device to offer them subsidised but if the parent company makes sure all the cards can communicate with each other then bingo. Then the data-mining capability's can be turned on/off for btc/loyalty points.
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I can also see the company being bought out by PayPal or Google dropping the btc wallet and using theirs. With the new company providing them free or subsidised.
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Yeah but it would create a user base to fuel wider adoption of both the device plus btc too.
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If it can provide free "im" and definitely if it can provide free "sms" plus a btc wallet I can see lots of bitcoiners paying for one.
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@matthewh3
what did he say ?
He was comparing the sub-prime mortgage crisis and the credit crunch problem to the IBB because it has 0% interest. |
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Then where is the announcement from the "mystery" FPGA firm ? For all I know you could be mining on a BFL single etc. I'm not sure but I do know he is getting the parts for the first full production run in about a week or maybe eight days (that's where board #2 is coming from) so probably when he has boards to sell tho I am taking pre-orders to guarantee delivery if anyone is interested. |
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Sorry if I missed it in the thread somewhere else but what price bracket are you aiming for? |
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You might find it more cost effective to spend the money you would use on the cluster in buying LTC for USD on - https://btc-e.com/exchange/ltc_usd - Then once the price goes up in months/years time and its more cost effective to mine then do so. |
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Board two will ship in eight to nine days to take us up to 1.6GH/s. So now everyone agrees with issuing another 400 shares at 0.4BTC to take the estimated weekly dividend up to at least 0.00400000BTC per share. If the exchange rates stay in our favour this will not only raise enough for another ~800MH/s@~40W board but also a RaspberryPi and a 600W PSU to run the boards. I will be keeping 5% of this share issue as payment for being CEO. If no one objects I'll issue these shares in 24hrs time otherwise I'll put it forward in a motion.
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Board #2 should be shipping within two weeks taking us to 1.6GH/s for 1900 shares. As soon as we have sold another ~600 shares we can pay for board #3 to take the weekly dividend per share to ~0.00400000.
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Got some MH per Watt data? Seems to be ~700 MH/s at the moment - what does your power meter say?
I can't give out any more info on the boards until they go public unless you want a pre-order and then I want 1BTC just to talk business. Sorry but they should be going public soon. |
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