It is back up and running, try going to the site rather than a simple refresh - that worked for me.
I'm using the US gateway; it's up now. Thanks Nefario. |
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Any ETA on the current outage?
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I'll give you 150 SC.
also obviously not a business man... once a bitcoin site is created it can be extended easily to support any Crypto-currency. Any that exist today or any in the future.... Any possible crypto-currency that may ever exist? If you've got an engine for predicting the future, 150 BTC just got a lot more reasonable. |
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Quite interested, depending on initial sale price.
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Ha ha ha 150 BTC
obviously not a business man... You forget that very few members of this community pay $750 for computer programs, much less unknown source code. I'm no expert, but I would certainly suspect that you won't get any takers at this price. |
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Intriguing, but can you give some more explanation behind the profit calculation? Have you surveyed a market sample, or is that number just an educated guess?
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bump
PM'd on the 4.5 GH/s. |
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Can you clarify this point, however? If you want me to phrase it explicitly:
If mining becomes unprofitable, as determined by the backers of the YABMC bond, whether individually or in unison, would YABMC bond payments continue regardless?
The responsibility is to pay the bond holder irrespective of mining. We have worked through this point in some detail as we have different cost structures, equipment mixes and even seasons. Thanks, that answers my question. |
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Sukrim,
There have been posts going back several days in the YABMC thread that more bonds were coming. I am sorry that you believe there wasn't sufficient notice/warning.
As far as the contract language, I would like tweak a few things but it cannot be edited at this point, however, so it remains as written.
Can you clarify this point, however? If you want me to phrase it explicitly: If mining becomes unprofitable, as determined by the backers of the YABMC bond, whether individually or in unison, would YABMC bond payments continue regardless? |
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Seems like a lot of people had the same idea as me:
Buy 2 shares of X for 0.6 BTC, trade them for 1 share of DMC and sell them for slightly less than 1 BTC...
I'm not really sure if you can keep up this model much longer without seriously hurting your IPO income.
I'm not sure this was intended to happen, but it certainly has. If he sells all 200k shares, percentage-wise, the impact is still small, but I agree, this can do naught but dilute the value of DMC shares. I really doubt I can exchange all 200k shares this way. However, if someone wants to try, they are more than welcome. I meant that if the rest of the shares are bought @ 1 BTC each, the effect of what bond exchanges have happened on DMC's assets would be negligible. Not enough bonds exist right now, so even if someone wanted to buy the remaining shares with bonds, they wouldn't be able to. |
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Well, to me it only seems that the issuer can stop mining if he wants to - however "The holder of this bond will receive as coupons a number of bitcoins equivalent to 100% PPS output of ONE MILLION HASHES PER SECOND for as long as they hold the bond." This would mean I'd still get paid, even if the miners aren't running. He doesn't have to keep his rigs running at a loss though. The giant askwall is really not nice at all, especially as it came on such short notice and without warning.  That seems the case, but I'd like it confirmed for the sake of my paranoia.  Some notice would have been nice about the askwall, but I can understand the decision. The market is quickly becoming saturated; I suspect they didn't want to delay release any more than necessary. |
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HUGE Think you've got enough tags there?  I'm on the metaphorical edge of my seat; when do you plan to divulge further details regarding this "huge" news? |
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With multiple-location mining, how will the clause in the YABMC contract for ceasing mining if it becomes unprofitable work? Based on location or an all-together average? And would this cause payouts to cease?
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Seems like a lot of people had the same idea as me:
Buy 2 shares of X for 0.6 BTC, trade them for 1 share of DMC and sell them for slightly less than 1 BTC...
I'm not really sure if you can keep up this model much longer without seriously hurting your IPO income.
I'm not sure this was intended to happen, but it certainly has. If he sells all 200k shares, percentage-wise, the impact is still small, but I agree, this can do naught but dilute the value of DMC shares. |
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Is this thing dead now? It hasn't been resolving for me since GLBSE shifted DNS servers.
I can't access it either, though I must admit I didn't even try until I saw your post. |
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Not odd when you consider the country is highly socialist and Hugo Chavez has such gems as: “I have said it already, I am convinced that the way to build a new and better world is not capitalism. Capitalism leads us straight to hell.” and I have always said, heard, that it would not be strange that there had been civilization on Mars, but maybe capitalism arrived there, imperialism arrived and finished off the planet."  I was referring to the low rates and lack of economy as odd, not the governmental stance. I'm no expert in Venezuelan politics. (obviously) |
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Venezuela. Gasoline is 0.1$/gal, diesel even cheaper.
Thanks, that's quite useful information. Sounds like an excellent place for a mining operation. The country also routinely seizes private property for the "common good". It would be the last place I would consider for a mining operation. "Sorry BinaryMage, the people of Venezuala are better served if the govt owns your server farm. Your building, all mining rigs, offices, records, and any bitcoin wallets will now be directly managed by the people of Venezuala. Feel happy knowing that your contribution will make the country a better place for all its citizens. These Police Officers will provide you escort to the airport, your visa has been revoked". There is a reason why economic growth in Venezuala is essentially flat lined while the majority of the continent is enjoying massive GDP growth. Well, that certainly changes things quite a bit. Seemed a little odd. Thanks D&T for enlightening me. |
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Venezuela. Gasoline is 0.1$/gal, diesel even cheaper.
Thanks, that's quite useful information. Sounds like an excellent place for a mining operation. |
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I actually think it's a shame that difficulty has increased this much for relatively so few miners. As I said in my cgminer thread, the original vision of bitcoin mining was that anyone who wanted to use bitcoin could also contribute a few spare hashes to make the network more secure and gain a few bit cents along the way. The fact that it is getting harder every day to justify throwing any computing power to make those few bit cents and it is becoming the domain of "professional setups" is far from that original vision. I know human nature will tend to concentrate on the profit side of things and they will always try to find a way of increasing said profit, but it's still a shame.
I think it's an inevitable byproduct of the evolution of Bitcoin from tech gimmick to serious currency. While it may signal the death of the former, it's certainly beneficial for the latter. Bittersweet, in my opinion. It's fine for me, as it's basically competition, and only miners with great efficiency or low power cost will survive. (0.01$/KWh here). Where do you get power so cheap? That's a quarter of the lowest I've ever seen. |
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