Quick announcement - This month is progressing well with site performance. I am going to take this opportunity to have SD retain up to 4k in earnings for June at the end of the month. This means that dividends on earnings up to 4k won't be paid for June (ie - if the site earns 5k, then dividends will be paid on only 1k of earnings).
Before you yell and scream, let me explain the purpose.
Currently I have, personally, provided an ongoing interest-free loan of roughly 6100 btc to SD that is used by SD as its betting pool. This is money that is at risk of hacks and losses, but I've permitted SD to use it because it needed a capital pool. The risk to me was tolerable when Bitcoin was $10-12 each. Now, however, that's a ton of money, and I would like to withdraw the loan.
Thus, earnings for this month (June) will be retained by SD for the purpose of replacing this pool. The pool needs to be roughly 3-4k btc, so the site is on track to earn this amount this month. It's thus a perfect time to do the swap.
Note that because these earnings are retained and owned by SD, if and when they are ever paid out or released from SD, they will go to all shareholders. Thus the betting pool held by SD will from now on be an asset of SD instead of a liability owed to me. Therefore MPEX holders will, after June, own 13% of the betting pool fund assets. If the site is ever closed down, sold, etc, these funds would be liquidated out to shareholders.
Hopefully that's not too confusing. Please let me know if you have questions about it.
Kind regards,
-Erik
I understand the need for a reserve, and that is why companies usually don't payout 100% of their profits as dividends. But why now all of a sudden instate the whole reserve fund this month. It would be much more elegant to do it over a few months by paying out 75% of the profits and retaining the other 25% to allocate to the fund.... and again, it should have been like this from the start... |
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Link... so we can get some as well ?
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5 shares bought
TXID: cdb4e18af0b61ee23ce2725433d84473b93edca71a45250a3e13b05351f1688c
Address: 1HrKVrwUWDgHTptF1L1b527nNrQQ4t75TM
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Payment sent for 4 shares:
Net amount: -9.00 BTC
Transaction ID: fe3fcff98f553c19f66eee4c609aea23298ffaa13fefa41c4d1c48669e673f2c
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I should note: Buyer pays shipping dues on top of bid.
It is your responsibility to factor that into your bid. I will ship from USA zip code 83835 through whichever service you choose.
Cheers,
Garrett
Thanks for the info Garrett, i think I can still safely bid 2.4 BTC  |
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2.4 BTC (how much will the shipping be to London, UK ? )
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OG, have you looked into doing a group buy for avalon ASIC chips? Buying the ASICminer block erupters is a huge ripoff, but these chips aren't too pricey in a group buy. A user named Steamboat on here has a really nice looking group buy, and also has a company sourced to produce the Klondike 16 open source PCB. it is only ~ 1.376 BTC for 16 chips for one of the K16 boards. Each board would give 4.5GHash. The cost for the PCB and other necessities is about 100$ each Link to the group buy is here: https://bitcointalk.org/index.php?topic=192916.0He is already on his fourth group buy batch for the chips. I bought some for myself, but seeing as I just bought some seats for your fan-group, I thought you might have interest.  If it's only 1.376 BTC plus assembly expenses for 4.5 Ghps that would be a fair price en quite competative. I think it would be a good cause for the current BTC holdings, and with no need to sacrifice BFL orders. I do share TradeFortress's opinion that BFL won't be delivering "very soon", since they have been "very close" for a couple of weeks already, but they keep running in to (unforseen) problems. Regardless how soon BFL will start shipping, if we want to stay competitative and keep expanding, using the current funds to buy other ASICs seems to me like the best idea. Because ordering from BFL now would put us in the back of line and even with the most optimistic estimates those orders would be shipped in a couple of months at best. So any ASIC in that pricerange that can provebly be shipped "very soon" seems like a good bet, wether or not this is is sooner than BFL or not. Don't those chips use something like 10X the power as BFL's equipment per GH/s? Last time I checked (admittedly has been a while), I determined that there is a good chance those chips won't even be profitable once BFL ships their backlog and difficulty/price adjusts to the new reality. I have no interest in buying equipment for this operation that will be useless in less than a year. There are others chasing hash rates for quick gains, we are in this for the long haul and are in a great position to benefit from the 600GH/s that has already been ordered. I've also been in contact with BFL and there is a better than average chance we will be sending in some of our singles later this week... Just be patient a little longer. The ASIC race is just beginning. Panic buying inferior equipment now will almost certainly prove to be a bad investment once more products enter the market. 'Panic' buying 'inferior' hashing products when they first came available would have been a great investment as they would have recouped themselves and then some... just saying.... But I am happy that you keep having faith in BFL.... 10 months onward... |
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Neotrix, any updates on that server? What's happening with the launch timeline? Curiosity!! I think this week end will be the last one...We completed all with the new server and still finishing to double check again everything before the launch. We still also waiting to complete our verification with some payment processors, anyway we will launch anyway even without them, adding them later if hardware and software verif are done from the other part of the team. According other members of the team there is nothing which could make a new big delay. Good timing: "CNBC @CNBC ALERT: U.S. authorities have seized two Bitcoin accounts linked to Tokyo-based exchange Mt. Gox." so we might need a new exchange pretty quickly  |
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Just bought another 150 chips from Zefir in Batch 7, so now 300 chips in total (Batch 3 were the first 150)
Thanks
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DutchBrat; 150; 12.90; 1PwnXHGbhM9vPhRgs9hiejaF2GDRiMAimr
I have another 150 in an earlier Batch for 300 total
Thanks
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I wanted to ask, what is going on with satoshidice?
are they failing to pay dividends?
are people concerned about the site being slow?
are people concerned about the sudden absence of key personnel from the forums?
It was not a matter of the website being slow, the domain name registeration expired and we still have not heard any response from Evoorhees. Could he at least pop into the thread and say "Hey, I noticed that, fixing it now"? On irc he said he was going to the usa. Anyone know if he was captured? Seeing as he was able to comment in a different subject this morning I find that highly unlikely! https://bitcointalk.org/index.php?topic=186041.msg1936556#msg1936556 Next best option is that he made his money selling some shares, still receives his monthly dividend and other than that is not that much interested in SD anymore.... |
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Summer in the Northern or Southern hemisphere ?
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So I just read all thread and understand almost everything, just have a few questions that needs confirming.
1. I don't make an order until beginning of may, when exact price will be known, yes?
2. Can I pay with bank transfer in EUR, or just BTC?
3. What does all that signing messages mean? I have for chips using my Blockchain address, do I have to pay for PCBs with the same address and include a message with the payment, or is it something else?
3. I'm also curious about this signing messages to addresses. I understand public/private key pgp encryption, so are we just talking about sending encrypted messages? From what I understand, if you ordered the chips from Zefir, you will have to send Burnin a signed message with the btc-address you paid Zefir with, so they both know that the owner of the chips (the owner of the address the chips were paid with) wants the chips to go from Zefir to Burnin |
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Friedcat also has to keep in mind of the first auction winners. There are folks that just shelled out 75 BTC for 10 GH/s, it wouldn't exactly be fair if ASICMiner doubled the network hash rate before they got their blades (insult to injury). I'm sure this will be addressed in this week's update.
Youre serious? Stop earning money so that others can earn? Uh no, I didn't do the best job of explaining my thought process. Being a shareholder myself, I am not saying stop earning money but there is some balance. If people see that AM auctions off their first blades and then they just unload TH/s, the next set of blades being auction will have significantly less profits because people know ROI will take much, much longer. If this is going to be a nonissue, then disregard my previous posts. I would say it is a non-issue.... there were 10 blades sold.... unless the next batch for sale is 50 TH the only correct way to go is to try and get online a.s.a.p. |
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Come on people, it isn't too difficult:
Ordering and Pricing Info:
You order your chips from Zefir or other group buys.
I have an agreement with Zefir, who will ship all chips that
are to be mounted on my boards directly to me in one big delivery.
You don't need to send Zefir a message that he should ship your chips to me!
For other chip sources you'll have to figure out yourself how to get the chips to me.
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