Ummmm informing shareholders ahead of the general public is insider trading. So yep, while it's great for shareholders it does nothing to make Bitcoin investing look less like the wild west. I'm against insider trading!
Most jurisdictions have securities laws about this - and most RL exchanges provide (or at least list) acceptable methods for public notification.
Please keep all updates in this public forum. So no to insider trading!
(Yes, I am a shareholder)
I think shareholders should receive information in an organized report. The same information that is made public over the period of time since the last report was sent out. |
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I find it even cooler that our total payout is more than 1/3 of that. |
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-----BEGIN RSA PRIVATE KEY-----
Proc-Type: 4,ENCRYPTED
DEK-Info: AES-256-CBC,F0CD17928C35A07E24D4B06D934A842D
this is at the beginning of private key. its still not encrypted is it?
I'll give you a hint, it has the word "ENCRYPTED" in it  precisely why i asked i thought that since i can now see this huge wall of text that it was no longer encrypted. ok, the original command line de-encryption you gave me referenced the private key file with a .rsa extension. that extension is now gone when i look at it in Windows Explorer. it's now named .blackmarket3. how do i modify your original command line?: openssl rsa -in .blackmarket3.rsa -out .blackmarket3-non-AES.rsa -passin pass:mypass ".blackmarket3-non-AES.rsa" is the location where openssl printed the non-encrypted private key .blackmarket3.rsa was not over-written if you wish to get rid of the unencrypted private key... you PROBABLY (don't quote me or jump the gun) securely delete the ".blackmarket3-non-AES.rsa" file |
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Hm, somethings wrong, somebody just put up 9999 shares for sale at GLBSE
depth SIN
1, 74800000
7, 74900000
9999, 74999999 <---- how is that possible?
3535, 75000000
Have you tried looking at "asset SIN"? That shows total shares in existance. Should be able to do that to look for obvious fakes. |
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So, to clarify, how often will a shareholder be paid their dividends?
How much per share will a shareholder recieve in dividends per block solved?
That can't be certain, since we will be pool mining. (i'll edit in some calculations for a certain amount of BTC generated though) |
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Ah, now I understand, you want to get to 39 computers as fast as humanly possible, then payout dividends once we get there. Do you think that we should ever enter back into the growth phase, or just stick to 39 computers indefinitely?
I'm pretty sure that the mining model requires regular growth to sustain a profit. If we get to 39 ASAP, we might not have to move as fast at that point. Nefario is supposed to have a new GUI interface for GLBSE in the next week, which could significantly expand the number of potential investors. I don't think very many people are capable of using the current command line interface to GLBSE. I think we should give these new GUI using investors a good reason to buy SIN.
I don't think it is so much the CLI, but more so that the installation procedure has/can be so complicated. |
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I'd be willing to get on logging/graphing the data as soon as it becomes available, as well as aggregating multiple data sources should SkepsiDyne decide to take your advice (which I agree with.)
Here ya go. |
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What kind of fees/fee calculator are you using? I know it costs 4.95 USD to activate a moneypak.
Are you considering selling BTC for Moneypak or Prepaid Visas aswell?
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As a shareholder and an investor, I am more interested in the sale of the unsold shares and the funds acquired from said sales be used to set up more rigs.
If he wanted to, he could have started a vote and votes. He would have won regardless.
Hate to sound like I'm just being a hater, but actually I've been on the fence about re-investing. If there would have been a vote, explaining why the price raise was a mistake, and how it should be lowered so the business can raise more capital, yeah, I think it probably would have passed. But it would have also shown some respect to the shareholders. It would have shown me that important decisions and problems would actually be discussed with the owners of the company, instead of just make arbitrarily. That's what shareholders are, the owners of the company. Even if they are greedy bastards who bought at 0.75 just so they could sell at 0.99999999. Even better would have been a vote to yank all IPO shares, and release a finite amount, like say 250, with a specific goal, like say add 5 rigs. (Not sure if the math works out there but you get the point.) That way it would be reasonable to expect that in a few months the existing shares might actually trade at .8 or something like that. And then another 250 could be released at .8 then. That would make it easier for people to invest seriously, and actually treat their investment like a stock, rather than a loan or a bond. I understand what you're trying to say, but Tawsix already said that he's wanting to sell the IPO shares as soon as possible. I would have liked to see a vote, but I don't consider him not issuing one a big deal. All the shares up for sale is a pretty easy way to publicize the amount of unsold shares. I don't think how Tawsix sells the share will affect the investor confidence, it will depend more on his ability to help the image and profitability of the company. Once the first dividends are handed out, expect a jump in confidence. Either that, or us passing superman3486 on BTCMine would. The sale of the IPO shares is what I would like to see happen ASAP, I would not like to see Tawsix resort to selling below .75 to achieve this though. |
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As a shareholder and an investor, I am more interested in the sale of the unsold shares and the funds acquired from said sales be used to set up more rigs. If he wanted to, he could have started a vote and votes. He would have won regardless. There was no vote, I made the decision.
You prove yourself that you are only interested in new investors and ignore the valueation for shareholder of any BTC already in your pocket. Its not a scam, its a mining ponzi scheme you are running to fund your mining operation. It is Tawsix's responsibility to sell the shares and to acquire new investors. The only role he needs to play in the market's value of unsold AND sold shares is keeping the business profitable, giving out dividends in the timely manner he has mentioned, and general PR. Basically keeping up and improving the image of the company. Also to get technical, a ponzi scheme is a scam, and from what Tawsix has shown... he is not scammer. |
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Update: all components are currently in the mail. We're selling stock at .75 BTC / share again because the previous 1 BTC / share price was not selling.
Stock wasn't selling at 1 BTC because potential buyers, like me, are waiting to see more than 2 systems on-line at once. You seem to be suffering from a number of set backs which, while not necessarily your fault, make me wary. In fact, dropping the price made me more wary. Hopefully you really will be bringing 7+ systems up, but right now, it could just be a pig in a poke. I'm not micromanaging your business, which I haven't invested in, but I do believe you are misreading the market. Dropping the price was necessary, because all unsold shares must be sold as soon as possible. It is where SIN is getting its starting fund, the funds paying for those rigs. Tawsix wasn't the one who decided to bring the price up to 1, it was the shareholders. I supported, but did not vote on the decision to increase the share price, because I thought that a good amount of the people investing were planning on holding their shares for some time... Given the way that SIN was trading when the unsold shares were upped in price, clearly a good amount of people were merely wanting to sell at .9999999, or anything higher than .75. When the current investors have the confidence to hold onto shares if another price increase were to happen, that would be a sign of real confidence on the part of the original investors and would hopefully show other possible investors that people are not merely speculating. |
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Ubitex Cuddlefish Music <3
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Whats up with the no-longer-selling of shares?
I just checked, they are up for .75 now... He wasn't selling any at 1, so I can understand why. Though, some notice or a vote would be nice. Maybe 1 will look more attractive when we get these 5 GPUs pumping. |
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I am wondering where the asks for the unsold shares have gone...
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I notice that some people are really micro managing Tawsix. Early on, I asked for name and address and Tawsix didn't want to tell, which is fine. Investors shouldn't have invested if they weren't okay with that. If Tawsix wanted to scam people, he would obviously be long gone by now (under that identity at least), so why still all the mistrust?
Each time you ask Tawsix unneeded questions, you are the one loosing money if you are an investor because it takes time to read and respond and that time could be spent on creating value instead.
After the unsold share price increased to 1.00000000 a bunch of asks at .99999999 popped up (people looking for quick profit). At that point Scamming became more trouble than it was worth for Tawsix. He would have disappeared shortly after or before that point if he was scamming. |
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Well, currently 466 shares have been sold.
Out of these, 161 are for sale for less than 1 BTC, 8 even for 70 Bitcents (meaning this investor looses 40 Bitcents).
Interestingly Tawsix got lucky and even solved a block (in the pool though...)
Currently he mined 1.55787272 BTC, meaning he "owns" one of his own shares now (only 3999 to go!!!11) and each share would get a whopping 0.00038947 satoshis as dividend!
Yep out of 4000 shares, 3600 are listed still for sale. I guess one way the cash-out-now people could profit is by having the price of the capital raising block increase in price to 1.25btc - that motion was voted against though.
4999 shares were originally put up for sale, Tawsix kept 5001 to himself. Read the first post. |
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Can't agree with this more. Very very easy to get scammed. Do the numbers people, make your background checks ppl!
The thing about this particular project and it's open trading on GLBSE has been that tawsix says nothing.... the negativity creeps in and the ASK price drops. Tawsix posts something then the GLBSE price rises. Just riding those swings I've made back more than my original investment (yes, that btc is banked) and have a little parcel of effectively free (yeah I know, opportunity cost) shares in SIN just in case it pays off. GLBSE is a peculiar place - allows open trading while a capital raising share float is in progress.
I'm sure some people are investing just because of the Greater Fool concept... I think most of them cashed out @ the increase to 1.00 per share though. |
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Why do people never think...
Before they start investing...
Investing with a deflationary currency...
Is generally a pretty bad idea...
One of the beauties with the BTC...
Is that you can actually hold...
The coins in your wallet and not lose value...
No pressure to invest in shady stuff...
Unless the investment is pure genius...
It will always be better to just hold coins...
A mining company is not pure genius...
In any form or way...
There are so many assumptions here. A lot of the growth we have been seeing is speculation. How long have you been "holding coins"? |
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While the market is unregulated the bitcoin community will be very harsh on anyone who fails to deliver what they promised. It really shows that a good reputation goes a long way when judging the merits of an offering.
True, but this community wrath will fall on someone who could get lots of money and is free to go and create a new identity, rinse and repeat. But you cannot be more right about value of reputation. It is bitcoin's version of a brand. This is why I am so surprised by investors optimism on some projects. Particularly given that investments are in bitcoins. Could have just held bitcoins. He didn't make a new identity to to set up Skepsidyne. Even if he did make a new identity to pull of other scams, we could always trace him with the Tawsix identity. I personally do not like holding onto bitcoins... I'm not really much of a trader, but I like the idea of investing. While i like moving part of my paycheck away from the USD, just keeping it in my wallet isn't enough. |
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