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2941  Economy / Securities / Re: [GLBSE] Yet Another Bitcoin Mining Company (YABMC) :: 5Gh Perpetual Mining Bond on: April 12, 2012, 01:48:18 AM
Thanks for the comments.

Annual return certainly makes some assumptions.  But the calculation is 1.4429 ^ (365/7) -1 (also displayed in Meni's thread).

Also note GIGAMINING last traded at 1.399 -- $1 was a great price and the reason I bought some  Grin



1 BTC per 5 m/hash is an acceptable price.  1.399 BTC is not (though apparently that's subjective).  I believe someone also bought 1 share at $10, but I wouldn't expect you to price it as such.

I made my calculation like this:
30 BTC for 100 m/hash = ~ $145
at 29.6 cents per day gives...

145/.296 = 489.86 days.

I would assume that you'd be making around 50% profit from this (i.e. half of the money collected from issued bonds is profit for you).  That's just a very large profit margin. 


Why do you do the calculation in USD? The purchase is made in bitcoins and the payout is in bitcoins.  Why would you not just keep it in bitcoins?

Oh, I don't know.  What do you buy Bitcoins with, wampum?
2942  Economy / Services / Re: Interest in yet ANOTHER ANOTHER mining bond, .2 BTC/MHps on: April 12, 2012, 01:45:38 AM
That is asinine.

A 1 MH/s bond should pay out 1 MH/s not 0.75 MH/s.  If you can cover your costs for 0.2 BTC per 1 MH/s then .... I don't know RAISE your price.

A 1 MH/s bond (which is really 0.75 MH/s) @ 0.2 BTC is the same thing as a REAL 1 MH/s bond @ 0.267 BTC.

+1

I'd be interested in 0.2 BTC per 1 MH/s.

I would not be interested in 0.2 BTC per .75 MH/s.

Gigamining had it right with the issuance of 1 BTC per 5 MH/s.  That's about as steep as I'd ever be willing to go.  Otherwise it's a pretty lousy investment (not for you, of course).

Sometimes I really think that people are convincing themselves so desperately that they're making money when they clearly are tossing it out the window.  But instead, they think to themselves, "Wow!  That was a mighty toss!"
2943  Economy / Trading Discussion / Re: Is there a need for a new exchange? on: April 12, 2012, 01:31:46 AM
We need exchanges with INSURANCE INSURANCE INSURANCE INSURANCE INSURANCE.
2944  Bitcoin / Mining / Re: Is rig building still profitable? on: April 11, 2012, 02:37:53 AM
Worth it?

Depends on electrical cost and the efficiency of your rig.  If you pay a high electrical cost, FPGAs are likely the way to go for now.  If your electrical cost is very low, GPU-rigs are still good because, relative to FPGAs, they give you more bang for your buck, at least right now.

Keep in mind, mining Bitcoins is like buying them indirectly instead of buying them directly, except that you hedge your investment in the form of your hardware.  With an efficient rig, you will pay off your hardware in less than a year and then anything after that is profit, PLUS you still have the value of the hardware itself.

All things to consider.  My advice would be to look for common trends -- a lot of very smart people are throwing down insane amounts of money on Bitcoin rigs ($100,000+ in some cases).  The new trend right now is the FPGA-based rig as well as the BFL singles and mini-rigs.

If you have the money, nothing beats a mini-rig right now.
2945  Economy / Securities / Re: [GLBSE] Yet Another Bitcoin Mining Company (YABMC) :: 5Gh Perpetual Mining Bond on: April 11, 2012, 12:58:52 AM
Thanks for the comments.

Annual return certainly makes some assumptions.  But the calculation is 1.4429 ^ (365/7) -1 (also displayed in Meni's thread).

Also note GIGAMINING last traded at 1.399 -- 1 BTC was a great price and the reason I bought some  Grin

Based on last traded prices (7:50 CST) paybacks are as follows:

Puremining: 663 days
BitBond: 462 days
Gigamining: 452 days
YABMC: 485 days

Again - I feel this is a competitive price!


It's a competitive price based upon traded prices, but not competitive for issued price.   Gigamining owns for issued price (not sure what the issued price was for Bitbond and Puremining).

I apologize, I'm really not trying to be a dick  Undecided  I just can't see how this is advantageous to the buyer.
2946  Economy / Securities / Re: [GLBSE] Yet Another Bitcoin Mining Company (YABMC) :: 5Gh Perpetual Mining Bond on: April 11, 2012, 12:54:31 AM
Thanks for the comments.

Annual return certainly makes some assumptions.  But the calculation is 1.4429 ^ (365/7) -1 (also displayed in Meni's thread).

Also note GIGAMINING last traded at 1.399 -- $1 was a great price and the reason I bought some  Grin



1 BTC per 5 m/hash is an acceptable price.  1.399 BTC is not (though apparently that's subjective).  I believe someone also bought 1 share at $10, but I wouldn't expect you to price it as such.

I made my calculation like this:
30 BTC for 100 m/hash = ~ $145
at 29.6 cents per day gives...

145/.296 = 489.86 days.

I would assume that you'd be making around 50% profit from this (i.e. half of the money collected from issued bonds is profit for you).  That's just a very large profit margin. 

2947  Economy / Securities / Re: [GLBSE] Yet Another Bitcoin Mining Company (YABMC) :: 5Gh Perpetual Mining Bond on: April 11, 2012, 12:35:35 AM
Good luck, but seems very pricey.

Gigamining offers 5 m/hash per 1 BTC

1 m/hash per .3 BTC = 3.33 m/hash per 1 BTC

30 BTC gets me 100 m/hash...that's around $145 per 100 m/hash.

At current difficulty and price, this gives me $0.296 daily per 100 m/hash.  

At this rate, you're looking at 489.86 days to break even and begin making a profit.  Not sure where you're getting 111% annual return.

I'll readily pass.  But good luck.
2948  Economy / Marketplace / Re: Coinabul website down? on: April 10, 2012, 07:29:50 PM
Just got a message from Coinabul.

Looks like it's just some basic maintenance and that everything is fine  Smiley Awesome.  Locking thread now.
2949  Economy / Marketplace / Re: Coinabul website down? on: April 10, 2012, 05:53:43 PM
Seems to be down also from here. :-(

Ok, thanks!

The only reason I'm slightly concerned is because I made a purchase about March 23 (maybe March 16)?  In either case, it's been a few weeks.  The site was up yesterday.  I've heard only good things about Coinabul in the past so I'm hoping this is only temporary.
2950  Economy / Marketplace / Coinabul website down? on: April 10, 2012, 05:43:05 PM
Is anybody having trouble connecting to www.coinabul.com?  

2951  Economy / Speculation / Re: WARNING READ THIS BEFORE YOU TRADE 10/04/2012 on: April 10, 2012, 12:39:18 AM
Lol holy crap
2952  Bitcoin / Development & Technical Discussion / Re: 51% on: April 08, 2012, 03:12:45 PM
you cant write something in a block, without changing it.

please stop asking questions that shows that you know nothing about how stuff work.
go read some more and find out why you are failing.

-1

Way to go, O' Superior One.
2953  Economy / Gambling / Re: Bitcoinduit is back from the dead! on: April 08, 2012, 04:05:04 AM
Any chance we can get one of these for Litecoin?

Litecoin would be the perfect token throwaway for this game.
2954  Economy / Gambling / Re: Bitcoinduit is back from the dead! on: April 08, 2012, 04:02:18 AM
... and what is it?

Ponzi games. Used to play it a lot back in the day.

Oh I missed these   Grin
2955  Economy / Goods / Re: (1) FREE $500 Amazon Code giveaway. Make a comment in this thread. on: April 08, 2012, 02:58:11 AM
Hey OP, if I win, I'll give you back $250 of it.
2956  Economy / Services / Re: Introducing the Bitcoin 100: A Kickstarter for Charities on: April 08, 2012, 02:32:55 AM
Today's the 4th, and Bitcoin 100 is right on track in reaching its goal of gaining 30 new members for April. Currently, for the month of April, we gained 0 new members. At this point, I wish to now thank each new member, individually. Now that that's out of the way, I've revised today's pledge drive upward to four, oppose to two of which I mentioned yesterday. If today proves to be as successful as yesterday, tomorrow's pledge drive will increase to obtaining five new members.


lol
2957  Other / Beginners & Help / Re: Bitcoin Value on: April 06, 2012, 10:45:40 PM
Im new to bitcoin. I know the market fell last year but will the value of bitcoins start to rise again? And will bitcoins ever run out?

Welcome Smiley
2958  Economy / Computer hardware / Re: [WTB] Up to 30 5870s on: April 06, 2012, 10:37:44 PM
I'll sell you one for 115 of your gigamining shares    Wink

Because I plan on buying shares from you anyway, and because I'm pulling 460 m/mash with it, and because you will be taking about 30% profit off the top of the shares I buy, I figure I'd take 30% profit in shares by selling to you   Grin  (not quite 30%, which would be 119.6 shares).
2959  Other / Off-topic / Re: Anyone Praying on: April 06, 2012, 10:34:12 PM
Prayer means meditation.

And yes, I did, though it came about unexpectedly.
2960  Other / Off-topic / Re: Would you buy my music? on: April 06, 2012, 12:17:08 PM

I wrote and played all parts.
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