Probably WLAN password cracking or other password cracking/hashing. Seriously though: Why not pay in bitcoins?!  |
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Is that right? Using marginal amounts of power per machine, a HUGE pool of GPUs+CPUs wouldn't have any effect?
Not for the single persons in that pool... Imagine 10000 users mine enough to buy ~5 songs every day - would you want to be number 10001?  |
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Is this going to be set up similar to your OBSI.1MHS bond? The one where initial investors are screwed over by a lowered "second" IPO price 32% less than the initial IPO? It only took a few weeks for that to go from .25 BTC to .16 BTC a share.
Just wondering.
These bonds will not be offered by OBSI.HRPT for less than 0.1 BTC Initial investors in OBSI.1MHS were not screwed over. They valued 1 MH/s at the IPO price and above at that point in time. They are still receiving exactly what the contract states (a bit more in fact) and they have the opportunity to purchase more OBSI.1MHS bonds for an even better price. Do I control the price at which the market values 1 MH/s? Should I attempt to prop it up? Or should I continue my expansion (which is the entire reason for the offering) at prices that remain profitable? Why won't you say who they are? How would we actually know if they defaulted?
I might as well send BTC to some random bitcoin address.
"Well "they" defaulted guys. Sorry about that." lol.
You'd have to take my word for it. Like many of my other offerings, and many things in life, it's based on trust. If you don't trust me to be honest about the situation, then you shouldn't invest in my offerings. Why do you still keep OBSI.1MHS running, since you can now buy back shares with the money you got minus dividends and still have a profit? Also you seem to have this amazing opportunity here to get interest rates similar to a ponzi scheme but without being one of course, as you - the nice and friendly neighbourhood businessman that you are - never would invest. It might make Baby Jesus cry after all! Honestly, I don't understand why such stuff is even allowed on GLBSE, this is right against rule #9 imho: 9. The Exchange reserves the right to suspend trading of any asset, or suspend access to an asset creator's account, for failure of an asset creator to provide requested information, or in the event of suspected fraud. I highly suspect fraud in this venture and I think I'm not the only one, judging from posts so far. By the way: * No buyback clause * No way of knowing that the underlying venture really has defaulted (or exists, or doesn't have much better rates than what's paid here or...) * Paying 0% interest forever is not even against the contract(!) * 10 million bonds issued * Issuer has a history of at least questionable actions with his GLBSE assets * ... How stupid (and I don't use that word often!) must people be who buy this stuff?! |
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So, I strongly believe I'm on the right path.
Ciuciu, so how is your shorting working out? Has everyone who has lent shares to Ciuciu been receiving their interest payments on time as agreed? Has anyone successfully closed a position yet? Given the strong negative cash-flow, highly leveraged position, potential for unlimited losses to Ciuciu, lack of posted collateral and recent strong moves against Ciuciu's position leading to massive capital losses therefore I am interested to see how those who lent shares to Ciuciu have fared with regards to protecting their principal. I only ask because I may be interested in lending some shares. Well, so far as to ciuciu paying up, you can check out the address(es) in our contract(s) - the main reason why I did design it this way, so it is auditable for anyone. I haven't called my shares back yet and ciuciu hasn't sent any back so far... I really enjoyed the double dividends so far (~50 bitcents each week extra) but obviously it's something that even some kids could pay out of their pocket money, so I'm not sure if it gives much more credibility or is proof to scale up really well. At least it's a way to show that shorting is really possible right now in a way that it can be publicly verified and audited for the most parts (except share transfers which are private). Also a lot of very valid points have been brought up in this thread (especially about scaling and about initial deposits/payments by ciuciu), so make sure to read it! |
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Also it was heavily overpaid... I'd have to check it out again, but I think a realistic price for one GLBSE share would be something around a few bitcents.
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C-C-C-COMBOBREAKER!
Seriously, it is anyways public on the asset page when dividends are being paid and how high they were... Maybe keep these updates to a table in a single post or so?
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Also feel free to buy back in! My sell orders are waiting to be filled...
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In other news: If you "invested" in MMM instead, you'd have earned even more than 25 BTC! Edit: Please take your frustration elsewhere by the way. If I had "invested" in pirate's "bank" earlier on, I'd have a lot more than 25 BTC more currently. I didn't. That's life. Stand behind your own decisions and don't blame others! |
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Vandroiy has a 5000BTC bet that pirate defaults, pirate having the funds to continue business means that Vandroiy loses 5000BTC, lol
ignore him and go on with business as usual
Well, until when does pirate have to default for this bet to become effective? Anyways, please discuss that kind of stuff in Meta, srsly! |
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3rd one = Pirate account?! |
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1. Get loan 2. Disappear 3. Create sock puppet 4. Buy bad debt ? ? ? PROFIT!  |
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FAH + bitcoin mining has come up often, especially when GPU mining was new.
Problems:
FAH uses completely different (not very well documented, proven secure and audited) algorithms.
FAH uses floating point math, BTC mining doesn't.
FAH doesn't scale well.
Even folders themselves didn't like the idea of their "ressource donation" work being used to power the difficulty of some funky internet funny money.
It is not clear if FAH can generate work indefinitely and of consistent difficulty.
I'm still all in for a BOINC bitcoin mining project that bundles everything that's needed to mine on P2Pool for example, but that's something different and would just use the BOINC client. The only difference would be that it would be easier to schedule some other projects on your mining farm as well.
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I submitted what was the 2nd largest bet on the site and once it was over I got less than half a BTC in commission. Sort of disappointing. Perhaps I misunderstood the commission rates?
If there are 1 million BTC bet on "true" and 10 BTC on "wrong" and "true" turns out to be the winner, only 10 BTC would get divided between bettors on "true", the site owner and the submitter. I even lost quite some moey just by opening a bet and betting 1 BTC on each side to make it more interesting to bet in the first place - if the end result is more skewed than you initially think due to some external factors along the way, even with the "early comer" bonus it doesn't really pay off. It might work out with a exponential instead of linear function, but even this could turn out to be too punishing for early bets. I still plan to analyze closed bets and see if it would be worthwile to "snipe" bets (e.g. bet 10 BTC always on the high end right before the time runs out) but I fear the simpler bet "pirateat40 won't default before I made back my initial deposit" is more lucrative and less risky to my funds than that. |
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I guess the biggest wallet is own by Satoshi. At least I hope so, he deserves it
That's hard to see with blockchain analysis, because these amounts haven't moved yet at all. |
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The company behind MtGox (tibanne) actually owns the infrastructure used to host this very forum here afaik. The forum itself is independent.
Back to GLBSE though I fear they have hit another wall - maybe not enough RAM? The problem is that caching is not really an option as most of the data is expected to be live. I already had a problem where I bough some shares by setting a bid slightly below the highest ask at that time and in the meantime somebody must have placed yet another ask... if this would have been because of caching and not my slow typing skills, I'd be pissed a bit.
Also I looked at the fees I have paid on GLBSE 2.0 so far - less than 1 BTC with pirate for 2 weeks. Is there some way for us to donate shares and/or BTC to GLBSE? Ideally there would be a public wish list + you can vote by sending some BTC to an address written next to the feature.
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Meh, just let them be. After all, they at least have heard about BTC.
If they think it's a pyramid scam, telling them it's not will just make it "more obvious" that it's indeed a pyramid scam. Letting such threads die instead of preaching is the correct way of treating this stuff imho.
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Sometimes it's nice being long on your bond and receiving double dividends.  Now you just need to get your trading price back north of 0.6 BTC and I'm all happy!  |
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Better to be early than late.
I bet the ladies disagree... Anyways, better late than never!  |
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May I suggest that you already set up Teramining, allow for swaps and until "Day X" comes simply pay out the same on both bonds? I'm sure I might forget exchanging my bonds or have liquidity issues just when I need to pay the .25 BTC per bond to upgrade... You could simply do 1:1 swaps + keep a public pseudonymized spreadsheet with a unique address per person: Name | Gigamining shares deposited | Teramining shares received | Teramining shares to be sent on day X | max. BTC for upgrades | BTC received | Address
abc123 | 10 | 10 | 9 | 2.50000000 | 0.75 | 1Bitcoinaddress1234567 Most of this can be made/checked automatically, you'd only need to take the snapshot on day x (after announcing it etc.), hand out the additional shares and start paying out the new MH/s on Teramining. |
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