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Update
Three motions have been raised. The contents in two of them were mentioned before in this thread, but since we did not get many replies towards them, we finally decided to create corresponding motions.
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Weekly Financial Disclosure
Time: 09:30 AM, Beijing time
Date: May 02, 2012
Funds of Last Week: 189.277 BTC
Assets:
BitBond
Original: 134shares 79.730BTC
Bought in: 141shares 84.600BTC
Average Holding Price: (83.616+84.600)/(134+141)=0.598BTC
Sold: 127shares 79.191*(1-0.5%)=78.795BTC
Average Selling Price: 0.620BTC
Holding: 134+141-127=148shares 88.504BTC
Net Gain: (0.620-0.598)*127=2.794BTC
Dividends Paid: 1.472BTC
Gigamining
Original: 40shares 52.400BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.310BTC
Sold: 4shares 5.960*(1-0.0%)=5.960BTC
Average Selling Price: 1.490BTC
Holding: 40+0-4=36shares 47.160BTC
Net Gain: (1.490-1.310)*4=0.720BTC
Dividends Paid: 0.916BTC
BFLS
Original: 0shares 0.000BTC
Bought in: 8shares 9.150BTC
Average Holding Price: 1.144BTC
Sold: 8shares 9.750*(1-0.0%)=9.750BTC
Average Selling Price: 1.219BTC
Holding: 0+8-8=0shares 0.000BTC
Net Gain: 9.750-9.150=0.600BTC
Dividends Paid: 0.015BTC
BDK
Original: 0shares 0.000BTC
Bought in: 395shares 26.070BTC
Average Holding Price: 0.066BTC
Sold: 245shares 27.697*(1-0.5%)=27.559BTC
Average Selling Price: 0.112BTC
Holding: 0+395-245=150shares 9.900BTC
Net Gain: (0.112-0.066)*245=11.270BTC
Dividends Paid: 0.000BTC
JLP-BMD
Original: 0shares 0.000BTC
Bought in: 200shares 50.000BTC
Average Holding Price: 0.250BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 0+200-0=200shares 50.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC
Holding Funds=
189.277-84.600+78.795+1.472-0.000+5.960+0.916-9.150+9.750+0.015-26.070+27.559+0.000-50.000+0.000+0.000=143.924BTC
Total Net Gain=
2.794+1.472+0.720+0.916+0.600+0.015+11.270+0.000+0.000+0.000=17.787BTC
Calculated Dividends: 17.787*35%=6.225BTC
Usable Funds: 143.924-6.225=137.699BTC (The CEO does not take any fee this week)
Actual Dividends: 6.22367728BTC (For Adjusting the rounding errors)
NAV: 137.699+148*0.634+36*1.504+150*0.141+200*0.248=356.425BTC
weekly NAV growth: 356.425/333.152-1=6.99%
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Additional expansion will be paid for by additional share issues, I've raised the issue before to reserve some dividend payout for future expansion and it was denied...
Reducing electric cost will be somewhat achieved as around mid to late July the price of electric will drop 10%, past that, just strive to make the Rigs perform to their maximum profit margin instead of minimum cost to operate.
I guess it won't be hard to pass motions on issuing more shares to buy new Rigs, because it's nearly always a good thing for existing shareholders. With the electricity cost, in fact I'm asking that if there's some discount from the electricity company if your electricity consumption exceeds some threshold. If so, we can work out a plan to make use of the discount. |
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I'm a little confused, so I clicked on the verifiable income link, and it says there are about 7BTC, and dividends were just paid. How did the rigs manage to mine so much in so little time?
There's actually 9.7 BTC in that account...it's income from contracts that hasn't been dispersed out yet. I've tried the contract thing before where I just dumped everything into one dividend payment, and things were still somewhat sparatic for some reason or another. This way it's much more perdictible and dependable. Bought in, keep going!
I see someone bought in, and enough to add a second 7970 to Rig 3, which I will be ordering tomorrow...sometime next week Rig 3 should be running with 2 7970s, and we're almost 3 of them! Great. Do you have longer-term plans to further reduce the electricity cost and keep the mining farm expanding? |
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 The gold price has a 4.46% swing high to low this month. And the market cap of gold is many magnitudes larger than that of Bitcoin. 18% swing is almost a miracle with respect to such a small economy. |
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it's very simple. there are always cycles of high and low volatility. now we are in low volatility. soon we will see a massive move
Of course. But the fact that the low volatility lasted for so long is beyond my expectation and amuses me. So I opened this poll. |
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There are more speculators (their bets neutralize each other).
Added.  |
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More options could be added if you provide them.  |
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I remember I saw from somewhere that the BFL guys said that the expected date of shipping is the end of June.
Now if what you say turns out to be true, it seems they will have done a better job than before.
The date has slipped a bit as it was supposed to be the middle of may. Good things come to those who are patient, so I wait. I guess I've confused the shipping date for very early pre-orderers and that for those people asking questions in the thread I saw. |
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Thanks for your reply. A relative long time of waiting then.  The mini rigs should be here by the end of May. I remember I saw from somewhere that the BFL guys said that the expected date of shipping is the end of June. Now if what you say turns out to be true, it seems they will have done a better job than before. |
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Seems that the sales of all the mining bonds are going pretty well, except those with smaller volumes. Will you propose plans for releasing more soon? Hi friedcat, All 10k bonds were sold on or before IPO day. The sales going on now are all between existing bonds holders. As for plans on releasing more bonds, I would like to get the mini rigs in and running before I make anymore moves of that nature. Best, gigavps Thanks for your reply. A relative long time of waiting then. |
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Seems that the sales of all the mining bonds are going pretty well, except those with smaller volumes. Will you propose plans for releasing more soon? |
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Announcements- 99.437 btc of payouts were made today. This consisted of 5 days and 39 mins at 1577913.485676 difficulty, then from block 177408 until the end of the week, the new (lower) difficulty of 1508589.62500. This difficulty should prevail for the next week
- 110% PPS payouts will continue for another week
- Bitbond will soon be expanding to 60Gh/s to accomodate a large private investor who will be purchasing a block of 20,000 bonds.
Wow! 20,000 bonds = 12,000BTC. Considering possible discounts, I assume it's about 10,000BTC. That's about 1/900 of the total Bitcoins ever mined. GLBSE is indeed becoming a major player in the Bitcoin world. |
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I'm changing the buyback provision to account for how dynamic this asset will be. As it was, I believe it was unfair to shareholders. I believe this is a dramatically more generous offer. There is still a static amount of BTC factored into the buyback provision, which increases incentive for me to push BDK share value as high as it's able. Because I don't imagine any shareholders complaining, I have no intention to honor the requirement the contract not become effective for 60 days after I make the change -- this change is effective right now.
Before:
"Buyback" - At any time, the operator is permitted to buy back shares issued. The operator will pay .07 Bitcoins per share if the operator buys back BDK shares prior to August 3rd, 2012. If August 3rd, 2012 or later, the operator will pay ((.05 Bitcoins + GLBSE 5 day weighted average of trade transaction amount per share of BDK shares)/2)
Now, after change:
"Buyback" - At any time, the operator is permitted to buy back shares issued. The operator will pay .64 Bitcoins per share if the operator buys back BDK shares prior to August 3rd, 2012. If August 3rd, 2012 or later, the operator will pay ((.32 Bitcoins + GLBSE 5 day weighted average of trade transaction amount per share of BDK shares)/2)
Cheers!
The upward jump of buyback price is impressive. Can't help estimating how much the trading price will rise to after some saturation. |
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And an even better question, why did it not die like all the pundits predicted?
And maybe the best question... "How to Make bitcoin be worth more?" <-- Why? What does that do for bitcoin? Do you expect more people to start using if it trades at $20 instead of $5? It will trade at $20 instead of $5 if more people start using it. Higher price is the consequence of wider adoption, but probably not the cause. |
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Madness is still going on:  |
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The dividend of last week doubled from that of the week before last week. Since the difficulty does not change much, is the increasing caused by just random number factors, or that you've already upgraded some of your hardware? Thanks.
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Very nice. This would dramatically flatten the effect of price fluctuations and large spreads.
Thank you very much for your great work.
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BITBOND has now exceeded 10000 BTC is trading volume. The first GLBSE asset to do so.
Does this mean I'll get a cake from Nefario? I would prefer a medal if I were you. It lasts longer than a cake. But you can't eat a metal... Yes, that's the downside. Neat cake pictures by the way. |
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BITBOND has now exceeded 10000 BTC is trading volume. The first GLBSE asset to do so.
Does this mean I'll get a cake from Nefario? I would prefer a medal if I were you. It lasts longer than a cake. |
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