I have a 5 Gh/s BFL order from the 10th of April which I just upgraded to 7 Gh/s. I want to sell 5 Gh/s from that device in chunks of 100 Mh/s for 0.21 BTC each. That's 50 shares, with each share entitled to 100% of the PPS value specified by the pool I mine at.
With all 50 shares sold, I will purchase a 30 GH/s BFL and once it arrives, I will increase the hash rate of each share to 300 Mh/s. Josh has stated that he expects devices purchased today to be shipped in about 90 days.
Just so I have this straight (and correct me if I'm wrong of course): You purchased and will be receiving a 7GH/s device. Out of those 7GH/s, you're proposing to sell 5GH/s worth in shares (50 shares,100MH/s @ BTC0.21) equating to BTC10.5. With these BTC10.5, you'll be purchasing a 25GH/s device (formally a 30GH/s Mini Single). At that point, you'll be controlling 32GH/s total. Now here's where it gets a bit fuzzy for me: That gives me 37 Gh/s, out of which, 15 Gh/s would belong to shareholders and 20 Gh/s would belong to me. As soon as I acquire enough funds from those 20 Gh/s to purchase a 60 GH/s BFL, I will do so. Once the device arrives, I will again increase the hash rate of each share to 750 Mh/s.
For the sake of math, let's stick with the original 37GH/s for now. How did you come up with the 15GH/s / 20GH/s split between shareholders and yourself? Put simply, shareholders just fully funded a 30GH/s device...why do they only get 15GH/s worth? As I see it, shareholders not only own the 5GH/s you subsidized out, but also the equipment you purchased with the funds (the "30" GH/s device)...so more of a 35GH/s / 2GH/s split. |
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The tone of some of these posts is certainly off putting, and some of the participants are obviously immature, but that doesn't mean there aren't real questions to be answered. I'm sure most CEO's don't especially like being called out on the carpet during their annual meetings either, but when you are an adult, and you handle other people's money, you have to expect it, and handle it professionally.
There is an incredible lack of transparency and communication in these BTC ventures, and while we all knew that going in, it certainly doesn't mean we shouldn't press for more disclosure. And of course some investors don't understand how the businesses is run; they have invested their money to purchase the benefit of someone else's expertise.
Your attitude seems to be that people who've invested should have no right to ask questions, because, well darn, just look at that return. I don't know when you bought your shares, but there are obviously many who haven't seen 20% this year. But that's beside the point anyway, as there is no inverse relationship between profit and disclosure.
Bottom line: if you communicate plans and challenges in a timely, professional manner, you have far less confusion and discord. That should be as self evident as the absurdity of appointing someone with the disposition of Triumph the insult dog to speak on behalf of the company.
Though I agree that there are questions yet to be answered, I wholly disagree with the approaches taken to ask them..so I suppose we're on the same page there. I can read post after post of troll threads and simply ignore them, regardless of whether or not valid questions are posed. That said, I also encourage questions (threads on my business ventures are a testament to that). I suppose before was more of a reaction to troll threads where it seemed people where vexed by the company's "mismanagement" and their dwindling returns. I dunno..I babble from time to time. As for my holdings, I've been buying and selling since January and haven't had a loss yet. Sold when I thought it was overvalued, bought again when it dropped. Dumped everything I owned when Erik sold some of his shares since I figured dilution would take over in the long run, not to mention the BTC price was skyrocketing (or at least starting to). For the most part people are pretty finicky about bad news (especially here in BTC-land)..so paying attention to Dooglus's daily SD stat postings has helped with the buy low / sell high pattern. As it is right now, I'm not holding anything (missed a buy opportunity last week)..but I'll certainly buy again when the time strikes. TL;DR - I agree..more communication would be nice. Stock prices go up and down all the time for any number of reasons, that's not what concerns me. I'm more interested in the direction the business is going and any underlying objectives to get there. With that info, I'm more inclined to allocate funds to long term holdings instead of my previous strategy. Also, Korbman, as an investor, I would suggest you withhold opinions like these, particularly when you run another investment fund... when you say that 20% annual ROI is abnormally high and above expectations, that doesn't give me much hope for KCIM.
My opinions are what they are: opinionsTo be honest, I actually laughed out loud after reading this sentence. It's quite apparent you have no idea what KCIM is or what my Notes entail..and that's another topic for another thread, let's stick to SDice. On that note, where did I say that 20% was abnormally high? I just double checked my previous posts, but I can't seem to find it..  If Erik didn't want to be transparent about his company, he shouldn't have opened an IPO.
Transparency is an option, not a requirement. Those of us who detail how our companies run are doing it more as a courtesy than anything else. Yes, there are consequences should we neglect transparency..that's not what I'm arguing. Besides, as fcmatt just noted above, SDice's books are open to all. I'd say that's quite transparent. |
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Hi Trendon Shavers.
Aw, that's a bit insulting..I feel Trendon did a much better job at convincing the public to invest than Mr. OP here.  |
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I'm also wondering how you'd go about valuing an account when trying to figure how much to loan. I imagine there are a number of factors at play...
Anyway, I suppose I'll take a PM too, simply out of curiosity.
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I can kind of see how this would be feasible, but only for well established accounts. Obviously there's no point in loaning to new or new-ish accounts since they're easily recreated.
But for someone like me (or TF and the like) where my account is used for both business and personal purposes, there's sort of a need to get my account back (and not just for the time I've put into the forums).
However, what sort of assurances are in place to make sure I get my account back after paying my debt?
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Am I the only one that finds this thread to be quite comical?
On the one hand, we have tons of newbie accounts (85% likely to be puppets, but still) complaining that SD has been a poorly run and terrible overall investment.
On the other hand, we have people who recognize the difficulties of running a business and praise Erik for the work he's put in so far. I concur with this group, and I can only imagine some of the hardships Erik is encountering, both on legal and financial fronts as he grows the business.
It seems, however, that the first group doesn't quite understand A) how businesses are run, B) how market conditions (including both currency fluctuations and competition) can influence share price, and C) that achieving 20%+ annual ROI is better than just about any other investment you'll be able to find (either in the "real world" or Bitcoin).
Sooo...remind me again why Erik should have to answer to a bunch of trolling, butt-hurt children who are angry because they haven't made millions off of SD in the past 3 months?
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Looks like a pyramid to me.
One of the original pyramid schemes:  I mean, it must be..because it looks like a pyramid and all.. |
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Wow.
lewisg broke the thread all by hisself.
MicroGuy included. I started noticing newbies just posting random images back on 270. After that, I knew this thread was lost unless a mod comes and cleans it up (not goin' happen). For anyone reading this, the theme of this thread is not only pictures, but numbers as well. Find a picture with a number in it that will match your post count. For example, this post is number 5457 ..therefore:  |
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I cant vouch for HYIP's, but I am sick of people bashing MLM.
MLM's are just legal pyramid schemes, that's all there is to it. So long as you have a product to sell, leveled marketing is a fantastic way to earn money by doing absolutely nothing (other than convincing your subordinates to push the product). And having been a part of one during my college days when I needed to earn a bit of extra income, I can assure you being at the bottom rung in an MLM is some serious bullshit. On the other hand, I presume MLM's are pretty freakin' awesome if you manage to score a position near the top of the pyramid..  |
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The only reason consoles are seen as convenient is because certain morons in the games industry have decided to make it as annoying as possible to legitimately purchase a game...
And now, with the Xbox One, consoles begin their journey down that dark path.... ...and I begin the journey back down my previously traveled PC-gaming path |
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Sure thing. 1qokD8RN9i7zZfD54VVFZyZJpHBwW6sKk
There is a fairly long chain of unconfirmed transaction from that address and while most of them do include fees the root transaction ( https://blockchain.info/tx-index/75347434/1) doesn't. I actually had the "pay fees" setting set to 'Frugal' for a bit (since I didn't have that much in the account), but I switched it back to 'normal' this morning before sending the second batch of bets and my other non-SD transaction. I'm not sure it has helped so far, but I figured I'd wait and see. I have rebroadcasted it a few times manually and there should be no reason why it won't confirm but it is low priority so could take a while.
Much appreciated, and there's no rush so low priority isn't a problem. I was just more concerned for the reasoning behind the unconfirmed status than anything else. |
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There is over 2k unconfirmed transactions at the moment so it is likely your transactions are simply waiting behind other higher priority ones.
Ah, yeah I saw that as well. Please link your bitcoin address or specific transaction.
Sure thing. 1qokD8RN9i7zZfD54VVFZyZJpHBwW6sKkAnd I made a mistake before..this morning's transactions were to the 1.5% address, instead of the 0.0015% like last night. |
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Has anyone had trouble with transaction confirmations over Blockchain.info to SatoshiDice? I'm sure this has been brought up before, but I seem to be failing at searching for an answer this morning. Last night while working on my Blockchain.info account I had (re)discovered the option to send bets to SD, so I figured I'd give it a go just for fun. I sent BTC0.01 using the 10x option to the "Under 1" address, but only one of the transactions (the first one) is showing as having gone through. The other 9 transactions are still showing unconfirmed, even 12+ hours later. Network propagation started out fine (70%+), but then dropped to showing a propagation of just 2 nodes...but seems to jump every once and a while to 100+ nodes. As a test this morning to see if it was just a fluke, I sent another 5x BTC0.01, but the results seem to be the same (except no transactions have gone through). I took a look at the logs for the SDice address and it shows the 5 transactions as being unconfirmed as well..but transactions from other addresses (both before and after mine) have confirmed just fine. To top it off, now it seems my normal transactions (non-SD) are stuck in an 'unconfirmed' state Anybody seen this before? |
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Dont trust mtgox
DO NOT TRUST SCAM MTGOX
mtgox is no good
I'm noticing a theme here...I suppose that's one way to spam a thread and boost your post count... But back to the point of the thread: I know this is just rehashing what others have said at this point, but I suppose it also bears repeating. Reversing a Bitcoin transaction (accidental or otherwise) isn't possible, unless you manage to get the receiving party to cooperate. If the funds you sent to SDice ended up going back to another user's account, then that would be mighty hard to retrieve. It may be worth it to keep up the fight with Gox, but I'd say let it go. I'm sure you'll know for next time, even though it was quite a pricey learning experience. |
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The massive cliff on the chart caused by the 10:1 split on March 1. It rendered the chart useless for the past three months, but it just rolled off today.
Ah, the 1:10 split..got it. So if/when it happens again you'll go crazy?  |
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Right, but since all this data is available, they can trace it (remember, in your scenario, that they also have internal ids for transactions and tie them to users, and that is how it is resolvable). Surely they should charge a retrieval fee and return the money.
That may be true that they could probably trace it, but how would you propose "returning the money" when it's already sitting in another person's account? |
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Was this driving anyone else nuts for the past 90 days? I feel like I can finally relax What do you mean? What was driving you nuts? |
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SPRINGFIELD, MO, – May 28, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines is announcing today that they have ordered (Order: #10409) a full batch (10,000) of Avalon chips to build ~29 Fast-Hash-80's for AMC should AMC provide the capital in the next few weeks, this would bring AMC machine total to 39 units. The 39 machines will bring the cooperatives hash power to 3,504,000 MH/s, 3,504 GH/s, or 3.504 TH/s. At the current Difficulty of 12,153,411.71 this will bring the estimated total revenue as of this writing to a total of $19,280.28 per day and a yearly amount of $5,398,450.75. AMC is a hybrid mining and development cooperative and a business unit of VMC.
This looks as if it was written for an article, but I can't seem to find the actual source. Link? |
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Not sure what happened to my post, not sure if I actually posted it  I said the admins won't slap the scammer tag on BFL and Inaba because they won't bite the hand that feeds them. BFL pay for advertising: https://bitcointalk.org/index.php?topic=206304.msg2228269#msg2228269 https://bitcointalk.org/index.php?topic=214520.msg2257451#msg2257451 This is damning of Theymos  More interested in the money than he is in altruism. Not in the least.. Anyone can put up an advertisement, regardless of who they are, what they've done, or what they're accused of doing. |
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Everything looks 100% above board -- what TF did is no different from any other paid advertising. It isn't even astroturfing -- soliciting in a public forum makes it explicit that he, and not the paid users, is the source of the message This ^^^ |
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