How long does it take to light a cigar with that seemingly-tiny flame?

Very likely default of 110BTC. I won't count this loss immediately, but space it out throughout next month assuming I don't receive payment. Loss = principal - amt. recovered selling to debt-collector.

Spreadsheet has been prettied up a bit. I'm still debating how to handle accounting for the "liability" of BDK in the event of a forced buyback. It's really "my" liability, not BDK's, but these two entities are so much connected, it takes some thought... I mean... if I file for bankruptcy, I wouldn't cede my BTC holdings. BDK would still operate. OTOH, if BDK had negative equity, I would not bail it out by further increasing my BTC holdings.


... I've also been thinking about splitting BDK up further. Since BDK has transformed dramatically from what it was at the time of the IPO, and become much more an investment bank than a "lending operation," and I'm a bit more comfortable with issuing securities... I think I want to create "subsidiary funds" of BDK. My idea is to create 5 or so securities, each with a specific investment category: BDK.FND.MINING (self-explanatory), BDK.FND.BTCSEC (investment in non-mining industrial and commercial Bitcoin-related ventures such as Kronos, BitVPS, and GPUMoney), BDK.FND.USDSEC (investment in industrial and commercial ventures unrelated to Bitcoin -- there were some interesting loan requests in the business loan form I posted a while back -- I was expecting more stuff along the lines of BitVPS, but instead found requests from people opening "deluxe" massage parlors in Canada, and a fellow doing something with lasers which was way over my head), BDK.FND.INTERESTFREE (gratuity-based loans to reputable individuals, with no gratuity required), and BDK.FND.ABNORMAL (the weird shit. Satoshis Daemon, IMPACT, Bioethanol -- I'm sure I could find odder [and profitable!] investments if someone gave me the funds to do so - though that's certainly not encouragement to do so ).

Anyhoo, BDK would take 10% off the TOP of these funds' net profit. No profit, nothing for BDK from that fund. However, by splitting everything up, BDK also minimizes its potential reportable losses (less the security revaluations I post, and need to do again soon). Additionally, investors are able to invest in the sector they choose, or they may continue to invest directly in BDK so they're exposed (for better or worse) to all the different sectors BDK's currently in. BDK will likely keep interest-bearing loans to itself, and BDK-BLoC is expected to bring a lot of new, safe, profitable business that way. BDK would do equity-swaps with these funds, but this can only be done before the IPO, with the deals posted publicly, to ensure I am not allowed to do any scammy nonsense where BDK receives more than FMV for its holdings. For what BDK invests using securities, it would receive fund units and receive dividends as any other normal unit-holder. From that point on, if BDK wants to invest in one of these funds, it must send that fund BTC. Wallets would be kept totally separated.

To summarize that, BDK would be split up 6 ways. Five "subsidiary funds," with interest-bearing loans staying with BDK, the parent company. BDK will swap securities with these various subsidiary funds, receiving, for example, 500BTC worth of BDK.FND.MINING for 500BTC worth of YABMC. BDK's profits will remain exactly the same, except it will also collect an additional 10% off the top of these various funds' net profits. So... say 50% of total BDK.FND.MINING units are held by BDK, 50% by others. In that scenario, BDK will effectively receive 55% net profits (50% it owns + [10% of 50% others own]). I think, this way, I'd be much more willing to take on liabilities than currently, where I'm turning down potential CD-holders and buying back bonds.

(.... .... If I keep writing like this, I'll develop schizophrenia for sure.)

I'll talk about BDK-BLoC some other time. I have papers written on it as well as on the benefits of setting some general interest rates in collaboration with the lending syndicate. Eventually, we will need credit agencies, too. I think the community's still tight-knit enough where we probably don't need independent audits... though eventually, that will become a necessity - but for now, analysis of company's income statements would be adequate and a huge step up from now.... BDK-BLoC will have an auxiliary objective of prodding BTC businesses to open up their finances to the public. (rambling, again -- sorry)

Effectively the same would happen this way, no? To recall, vote against option seven, in favor of other options. If you don't want to recall, vote for option 7, against others. Maybe this route lacks proper formality, however. There were 1560 votes explicitly against option 7 in the last vote. I would vote for a recall only if option 7 remained an option in the future vote, so that'd make 2838 votes explicitly in favor of a recall, 2019 explicitly in favor of keeping option 7, only factoring in my change-of-heart. However, I will not be participating in this re-vote, so (going by the last vote) there would be 2019 in favor of option 7, 1560 against. I imagine option 7 will eek by victorious in this re-vote, but Idunno.

Take out my influence, and you get 1716 votes against option 3 (2nd best ratio of the motions first go-around), 1407 in favor. For option 7, 2019 in favor, 1560 against. Garr's also purchased additional shares, however...

Anyone prod these folks to accept BTC payment, yet?

After about an hour editing the above post - I request a re-vote. Put them all up again and let us try again, please.

[12:49:17 AM] Ben Malec:
I initially voted for option 7 without doing the calculations. I've done them now. "a" represents how much BTC I'd have if you did the giant dividend. "b" represents how much I'd have with 2x normal dividends.
[12:49:18 AM] Ben Malec:
Mo1 - a=192.5, b=44
Mo2 - a=233.75, b=92.4
Mo3 - a=279.13, b=145.64
Mo4 - a=329.04, b=204.2
Mo5 - a=383.94, b= 268.62
Mo6 - a=444.34, b =339.49
Mo7 - a=510.77, b =417.44
Mo8 - a=583.85, b =503.18
Mo9 - a=666.43, b =597.50
Mo10 - a=755.073, b=701.25
Mo11 - a=852.58, b=815.375
Mo12 - a=959.84, b=940.91
Mo13 - a=1077.82, b=1079
[12:49:53 AM] Ben Malec:
(both assume I make 10% monthly off dividends without accounting for the week of the month I receive those dividends, and assumes difficulty doesn't change -- it's rough stuff)


After talking with Garr, it seems the x6500s would lead to ~40% increased dividends per week (~10GH/s total vs. 7.2GH/s), not 2x. But, it's still worth considering the options far more closely than I originally did. I'm sorry for the relatively thoughtless vote. May request a re-vote when I do numbers on the different boards.


w/X6500s (7.2GH/s -> 10GH/s):
Mo1 - a=192.5, b=30.8
Mo2 - a=233.75, b=64.68
Mo3 - a=279.13, b=101.95
Mo4 - a=329.04, b=142.95
Mo5 - a=383.94, b=188.05
Mo6 - a=444.34, b =237.66
Mo7 - a=510.77, b =292.22
Mo8 - a=583.85, b =352.24
Mo9 - a=666.43, b =418.26

BFL singles (7.2GH/s -> 12.19GH/s [keeping in mind Garr pays for electricity])
Mo1 - a=170.5, b=37.4
Mo2 - a=187.55, b=78.54
Mo3 - a=206.3, b=123.79
Mo4 - a=226.94, b=173.57
Mo5 - a=249.63, b=228.33
Mo6 - a=274.59, b =288.56
Mo7 - a=302.05, b =354.82
Mo8 - a=332.255, b =427.7
Mo9 - a=666.43, b =507.87

Conclusion: Singles would be the preferable non-dividend option, given Op pays for electricity, IF Singles could be delivered within a few months. A single would likely take ~5-10 weeks to deliver, while x6500s can be delivered within a week or two. However, even with the time delay, it would be far preferable to shareholders (perhaps not Garr's "electricity shares") for Cognitive to order Singles.

However, because it would likely take well over a year (in my particular case) for Cognitive purchasing FPGAs vs. paying a giant dividend to be preferable, I believe it to be the rationally-superior option for me to choose option 7, and thus will not change my vote.

ETA: OTOH, Cognitive's been "diluted" 28% for what can increase dividends 70% (after ~2 months' wait). The IPO was a huge gain for shareholders any way you slice it. Relative to before the last offering, Cognitive's now underpriced, IMO, though I do think all mining "stocks" (compared to bonds) are over-priced. Hm.... Now I'm on the fence. I request a re-vote, and I'll just sit on the sidelines.

ETA2: Fwiw, I didn't post the above numbers to try suggesting what other shareholders do, just me personally (BDK, I suppose). It's not a question of whether or not it's a good idea for Cognitive to buy BFL Singles (or, to a lesser extent IMO, other boards) with the money -- that's indisputable. It's just a question of opportunity cost for myself factoring in how I view the value of tangible equity in mining organizations vs mining bonds. I posted to justify my vote.

ETA3: Changed my mind one final time, voted for the singles, against giant dividend.

I've also noticed significantly higher total payout compared to any other pool I've tried -- unhoppable pools - enough to make me wonder if Graet's paying us a secret bonus and somehow obscuring it. - And Ozco.in handles FPGAs flawlessly. I haven't done the calcs on it, though - just guesstimating. I guess I wasn't really expecting the Icarus boards to pay for themselves so quickly. *nudges up the donation %*

"Statist" is a nice step up from "muggle," but let's take this thought process to its logical end and call everyone who doesn't do what we do something like "zombies," "sheep," "dregs," "dullards," or perhaps "submissive, narrow-minded simpletons" -- or Jews. Enemy combatants? Or the Japanese Unit 731 favorite - "logs."

I'm alive! Kicked caffeine while on "vacation." 8 cups coffee per day -> no caffeine intake. - And I didn't kill myself!

Will place some phone calls today, see how everything's going, roll out the "amortization" update on the spreadsheet (not sure why I thought it'd be "easy" at first -- once everything's updated, it should be easy, though), add fees & profits from GLBSE trades to the spreadsheet (I've been getting lazy with that), then get to the PM backlog tomorrow. Also working on mechanics for "BDK-BLoC." "LoC" may be a giveaway.  

ETA: Noticed some other things I really need to fix on spreadsheet. "Amortization" update may need to be put off until tomorrow.
ETA2: I also bought back 10k BDK.BND units @ face value a day or two ago, so profits will likely be a bit higher than originally estimated.
ETA3: May have a defaulter. Need to check on it. Two weeks without dividends would be pretty shitty.

Heh, the reasons you dislike the state are many of the reasons I like it here. I did grow up in MI, and family's here. "Colorful" people who tend to keep to themselves. Christianity dominates (less Dearborn), and many even adhere to the principals taught (though there're certainly some pockets of intense racists in rural Southern areas, but I'm White, so don't really give a damn) -- I'm atheist, but I'll admit to generally preferring the company of a fatalist Christian over an Atheist who insists on morphing the world to his ideals. In school, we'd get free absences if it's hunting season. Lots of broken-down cars (funny given it's some "automotive capital"), but there are no state car inspections, which is nice. Taxes & regulations aren't too terrible. Milk's incredibly cheap relative to PA, and it's not usually very hot (I enjoy the cold, and want to move up to the snow belt of MI, next).

Only other states I've lived in for any significant amount of time have been NC and PA. NC was fine (I lived in the ghetto-ist of the ghettos), but I *HATED* PA. The gays in Erie seemed to have some type of agenda to be as flaming as humanly possible. We gave away some cookware once on CL, and the flamiest flamers of all Flamedom came up to our door without a shirt, all sorts of piercings and tattoos, high-pitched voices, and talking about how they "love a hot kitchen." Then there was another gay couple who were rich, but rode a bicycle-built-for-two around town (they were cool, though). Bought a recliner from a fellow on CL. He wanted us to come to inside his house to haul it, so we scoped him out a bit to find an incredibly gay Myspace profile where he just goes on and on about how great it is to suck cock (I'm not even exaggerating). I don't have a problem with gays, but flamers who define themselves by their sexuality annoy the Hell out of me. The neighbors always tried to talk to us, too (one couple would even peer in our fucking windows when we didn't answer the door!), and the town was segregated not just on skin color, but literally by nationality. Like... there was a Hungarian section of town, a Polish section, a Black section (not by nationality AFAIK), and a huge Italian section. Oh - and there were these scrap-metal-hauling lard-asses who'd roam around town like vultures and take away anything with any metal on it if you left it in the front yard -- if you put something metal on your front lawn, chances are it won't be there if you check again in a couple hours, even if it's pitch-black out. It was interesting, but I'd really prefer being left alone in a quiet area. I stay in FL a few weeks every year or so to stay with family, but it's just too damned hot - VA, too.

Must allow a grumpy old dog that just lays around in a corner of a room, have at least 3 bedrooms (or two bedrooms and one empty room able to function as an office). Being furnished already would be nice, but unnecessary (it must have washer/dryer/stove/fridge, however). Garbage pick-up must be included and the home must be ready to drop a cable or DSL connection in. Must not be in a population-dense area. I have absolutely no interest in room-mates or shared housing arrangements. I don't want a mansion, I don't want a cabin, I don't want a trailer -- I want a clean, habitable, small house. I've looked online and can't find any houses for rent outside of cities. If it's near an old-folks' home, that'd be great, too.

For a better idea of where we'd like to live - any of the following counties would be great: Eaton, Ingham, Jackson, Branch, Hillsdale, Jackson, Calhoun (houses outside these counties would be considered, but shouldn't be more than an hour or so away from Spring Arbor [no, I don't go to SAU if you were wondering])

We'll likely live there for 2-8 months (waiting for house in PA to sell). I don't have a hundred GPUs mining Bitcoins or anything like that. You'd have two adults (Wife & I) and one toddler (daughter) for tenants, all extremely quiet (well... the adults are, anyway). I'd prefer to pay in BTC, but USD fine. PM me. Cheers!

ETA: Offer closed. Looking to buy a house in NE IN, however.

Fair warning -- It's probable I'll be initiating a forced buyback @ .101 in 45-120 days. CD rates will also be reduced at that time, though CDs are currently not for sale (I'm also not issuing BDK.BND, though that's also because the security's still restricted by GLBSE). I have too much OPM and interest rates have been dropping in the Bitcoiniverse far faster than I anticipated.

CMH also satisfied my cigar demands (rather, he introduced me with a sampler box), though I couldn't order Cubans. +1

"Emergency room Doctor Paul Adams agreed with Aguilar saying similar cases have showed up in the ER.

'We noticed an increase, probably after Ultra Fest,' Dr. Adams said."

...

"Do you know where your teenager is at 5 o'clock in the morning?
The Ultra Fest?
The music festival attracts thousands of Miami-area young people.
Some say they come looking for drugs, dirty dancing, and pounding techno music.

...

It's 10pm. Do you know where your children are?
Well things have changed.
Today the question for parents is, 'it's 5am, do you know where your children are?
The MacArthur Causeway?
Some say they come looking for brains, flock-like movement, and Michael Jackson's 'Thriller''"

 

Two dividends were paid a few hours ago, fwiw. 75BTC + 70BTC. Waiting for more info.

BDK's been traded @ practically nothing three times in the past couple weeks. I'd be willing to call those panic sells -- I believe those were moreso over the GLBSE drama than from no dividends being paid today. Someone saw enough opportunity in those sells to keep up some small bidwalls, now, so probably won't happen again. Anyhoo - will have to just wait it out for BDK to market to re-evaluate BDK once some solid dividends come out. At this time, I'm not intending to offer more than 500 units next month. 500 "pre-IPO", none reserved for offering date - but I'll wait to make a more firm commitment for 2-3 weeks when I can have a better gauge of the market on July 2nd. Should have a solid month in July, so will likely offer maximum amount again in August.

June 4 UPDATE
Dividend/share paid: 0.0BTC/share
Total dividend paid: 0BTC (-6.99BTC negative liability to shareholders being wiped)
Running total dividends paid in June: 0BTC

May 2012 Net Income Expectations
Optimistic estimate: 400BTC
Reasonable estimate: 100BTC
Pessimistic estimate: -150BTC
(Guesstimated weekly dividend payouts -- June 4th: 0.0BTC/share Actual: 0.0BTC/share, June 11th - .00063BTC/share, June 18th - .00018BTC/share, June 25th - .00036BTC/share)

Dividends paid.

Issued: 26367 bonds (2636.7BTC FV)
Interest Payment: (2636.7*.01)=26.367BTC

Next Payment Date: June 11th

Before I take a break from the Internet for a few days, starting tomorrow - does anyone want to have a dialogue with me over the 0BTC dividend I'll be paying tomorrow, or anything else?

As to why BDK took a loss this week, it's due to CDs reaching maturity around the same time. I foresaw problems like this, and is why I originally wanted to do monthly dividends (and still do later down the road when BDK is ("I am") better-trusted), so stuff would have time to "balance out." As-is, the current shareholder dividend is calculated to be -4.86BTC, ~-5.5BTC after I pay dividends to BDK.BND-holders. This "debt" will be wiped using BDK funds, but I will not always be wiping debt, especially if "unit"-holders own >30% or so of BDK. There will very likely be a dividend paid on June 11th, particularly because I have no CDs due in that timespan, so the only expenditure will be ~27BTC to holders of BDK.BND.

I think it'd be a good temporary solution use amortization when calculating CD expenditure - and loan income, too. Instead of suddenly accounting for a 100BTC loss due to CD maturation, make it weekly. It would be easy to account for on the spreadsheets... Give a gain/loss per week column in the loan sheet, then in monthly I/O reports, use the sum of that column, and add a static amount I "paid on paper" for previous weeks to the current weekly amount lost/gained from interest each week. This seems like much more sound accounting to me, allow less volatile dividend returns, and would give me a better idea of how I'm doing, but am open to other ideas. Cheers!

Hariprasad Trivedi (I)



Just look at his face. I think that says it all.

ETA: Whoops -- someone's been letting me talk, again. :x