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Are the Sunday Evening - Monday Morning dividend payouts going to be working for you Tawsix? If you can't continue to make payouts at that time(s), perhaps you should consider different day(s) of the week...
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Wait... Tawsix, you've had lower-than-normal hashrates since the 22nd, and haven't done anything about it???
He had a family emergency. Currently some of the rigs are not producing, I will be working on this problem tonight and tomorrow, and hopefully get us back up to speed! As I said before, a small emergency has kept me away from things for a bit, but everything is back in order so I will be able to set things straight!
Going to be fixing that ASAP. 2222 shares have been sold since last I checked. It's pretty reasonable to say that the family emergency was why he wasn't able to do anything about it, since we didn't see him from the 24th-26th. |
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How many unsold IPO shares are there now?
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These dividends are from July 10 to July 17. Next dividends will be from the 17th to the 25th.
Dividends have been paid out! A total of 57.94 BTC was generated. 13.55 BTC was used to pay for electricity. 22.195 BTC was paid out to investors, and an equal amount was reinvested in the company to pay for my shares. The following is a report detailing SIN purchases and expenses since the last payout:
Money spent on new rigs (1): $1287.73
Money spent on electric bill: $176.26
Total spent: $1463.99
Thanks again to all of the investors!
Very little investment and low price for BTC means we will not be purchasing a new rig for this week. We will see where we stand next week, hopefully we'll be able to get another rig once we pay out dividends next week!
Are the 17th-25th dividends going to be paid out on time? |
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Usually this thread doesn't need any bumpage, but i guess it could use one now.
Any news of the new rigs, Tawsix?
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Wooo, 4 bitcents!  Better than nothing I suppose...  It's more than you would get for interest at a normal bank account. At a bank you get your deposit back. Not anymore. Lol... Either way, if needed anyone could put up their shares for .74999999 BTC per share, atleast until the IPO shares have sold. |
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Just to point out the risk involved, in order to maintain the current level of return , new mining hardware has to be continually added to keep up with difficulty. This means new investment is regularly needed to purchase more mining hardware, just to maintain an initial rate of return.
It has already been stated that investment in new hardware will always be needed to keep up with difficulty. Which means that a certain percentage of generated BTC will be put into new hardware. Just as BTC will need to be used to pay for the electric bill as well as other expenses. Also see... A note: the current situation is exactly why I proposed SIN: we've reached a higher difficulty but price of BTC hasn't followed. This means that there is less ability for current miners to expand and less incentive for new miners to join. However, because SIN is still getting investments (as well as still producing a sizable sum of BTC) we can continue expanding. In fact, this week (the week following a huge increase in difficulty) will be the largest expansion this company has seen since the initial 5 rigs. Once again, I would like to thank investors for their faith in this venture. As Bitcoin makes history, so will we.
Investing in a mining company has other benefits than the hopes of profit, if that was the only reason, I would have been mining by myself. I haven't been following this thread in great detail. I thought I remembered reading that the OP's decided to give 100% of earnings back as dividends. If that's not the case, what % is currently going back into new hardware before dividends go out? Also, what is/are the other benefit(s) of investing in a mining operation aside from profit? I believe he gave an estimated % growth, rather than a percent spent. I'm not sure exactly what it was, but it may have just been for an example anyways. Pretty much the benefits are the same as having a mining contract, someone else runs, maintains, and cools the rigs. I suppose that a slight benefit over mining contracts would be that with shares, the "contract" never ends, you would just have to sell your shares. There's also voting, of course. |
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You are investing in a business that becomes less profitable every day. That's not a bad thing, it just means your calculations of value need to account for it.
It isn't so much the business or even the industry really... It's the individual rigs. Until all the IPO shares are sold, we'll be seeing a rapid growth in hashing power. We're leaving it up to Tawsix to spend these funds to bring in efficient and powerful rigs. Once all the IPO shares are sold, or they start selling at an extremely slow rate, generated BTC will have to be put into purchasing new hardware. The idea is that by then, mining has scaled up to the point that x number of rigs can be purchased every week, month, or quarter. Remember that dividends are split up among IPO shares that are SOLD, not counting what goes to paying for Tawsix's shares. 15 shares will have a much lower percentage stake then what they have now. x shares out of 2000 lose 60% stake in the dividends when it comes to x out of 5000. Don't worry though, because as shares are sold, rigs are bought. Just be sure to calculate what % you will be bringing in... - Now
- When all IPO shares are sold
- When all of Tawsix's shares are paid for
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Just to point out the risk involved, in order to maintain the current level of return , new mining hardware has to be continually added to keep up with difficulty. This means new investment is regularly needed to purchase more mining hardware, just to maintain an initial rate of return.
It has already been stated that investment in new hardware will always be needed to keep up with difficulty. Which means that a certain percentage of generated BTC will be put into new hardware. Just as BTC will need to be used to pay for the electric bill as well as other expenses. Also see... A note: the current situation is exactly why I proposed SIN: we've reached a higher difficulty but price of BTC hasn't followed. This means that there is less ability for current miners to expand and less incentive for new miners to join. However, because SIN is still getting investments (as well as still producing a sizable sum of BTC) we can continue expanding. In fact, this week (the week following a huge increase in difficulty) will be the largest expansion this company has seen since the initial 5 rigs. Once again, I would like to thank investors for their faith in this venture. As Bitcoin makes history, so will we.
Investing in a mining company has other benefits than the hopes of profit, if that was the only reason, I would have been mining by myself. |
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We've passed 200 BTC paid out on BTCMine! Let's hurry up and get out of there before it gets any higher!
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I think I only have 2 shares, but how can I confirm that I received the dividends? I don't remember any strange payments to any of my addresses. Does the dividend go to my account on the stock exchange?
It goes to your Stock Exchange balance. You should able to view it under one of the histories. |
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But hey, that's just one shareholders opinion.
It's not the number of shareholders that matter, it's the number of shares  |
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All sounds good Tawsix. I look forward to the first report. I have decided that it is not prudent nor in the best interest of the investors that the information regarding the components of the mining rigs be released.
Given the purpose of the company, I understand this position and agree with it - there is value in the research that has been performed by Tawsix while "employed" by the company. However, in lieu, I think it necessary that an estimate for the value of these assets be stated in each report. Shareholders need and deserve to know the $ value of the hardware assets of the company, which could be liquidated tomorrow, if the worst was to happen (e.g. something akin to what has happened recently with DISHWARA), as per the proposed new contract. The report will include the amount of money used for expenses and purchases, as well as what went to rigs, what went to infrastructure, etc. Can/will you include the possible resell value of the assets (as a whole or individually)? Even an optimistic ballpark coul help shareholders have an idea of how much could be liquidated if it ever came to that. |
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That is correct, you will own 1% of the company, 1% of the company's computing power, and 1% of profits made from it.
And who gets the revenue of the unsold stocks ? I understand that you sold 1645+438 stocks. Should my share not be 100 out of 1645+438 instead of 100 out of 10.000 ? Ah yes, my mistake. Those calculations were under the assumption that all shares were purchased, which is not the case. I collect dividends that amount to the number of shares sold (1645) + 1, which I reinvest until the number of shares I own (currently 438) is equal to that number, at which point I would collect dividends as normal until more shares are sold. This would go on until I have paid for all the shares not in the IPO. So in actuality 100 shares would get you 100/3291 (if you already owned them, the denominator would increase by 200 if you went and bought 100 shares right now) of the company, or about 3%. This is what I like about buying in sooner, it increases the percent of the profits you get if you invest earlier on! Buy in now to take advantage of the higher (percent) dividends! =D Just don't try to shoo away other investors, we need their capital to buy more rigs! So, Tawsix, do you think you will be doing weekly dividend payments and rig purchases? Or are you not sure what it will be in the long run? |
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This is getting really out of hand guys... I have over 8000 shares in my portfolio because only 1600 out of 10000 have sold.
OH, I see. Because they're in the same account, you'd be voting with all shares on the account, so as far as voting is concerned, you have 8k+ shares. My mistake. |
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I actually own over 8000 shares so the point is rather moot.
You bought around 3000 of the 4999 sold to the public? How is that possible? |
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The amount of shares DISHWARA receives should be based on the equipment we actually need (and we will take/use) and the hashing power of that equipment. If we need some equipment for something other than generating hashes, I think Tawsix should purchase it with some generated funds and not IPO shares (perhaps funds from selling said shares though). If we give DISHWARA X shares, we shouldn't be able to get more hashing capability from (X*.75) BTC worth purchased equipment. And as I said before, the amount of shares should be based on - Hashing Power of Assets
- NOT the Value of Assets
- Equipment Acquired That Helps Generate More Hashes
If we don't need an i5, should we take it? I don't see a problem as long as it either helps us generate hashes OR it isn't tacked on top of the shares we pay for hashing capabilities. |
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Someone is selling below IPO price again, I guess they were just waiting until dividends were handed out. Oh well, they will probably be sold soon, assuming no one else pulls out.
Any news on the motions, Tawsix?
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Hey Nefario,
Are you actually making changes or are are you just checking the security? If making changes, did you find any vulnerabilities or are you just adding security just in case?
Hey Peter, did a code review trying to find areas that might be exploitable, made a few changes(nothing big AFAICT). And adding security. Trying to separate and comparmentalise different areas of functionality, kind of defence in depth. To be honest I'm not an expert in implementing these things, which is one of the reasons it's taken so long. The other reasons being that moving onto another machine was more work than planned, I'd not documented the setup process. Coming along though, glbse.com is now all https. Now need to make the changes to the clients. Will have the system up for maybe a day before I put any bitcoin in it. Just in case. I'm also having someone check it over. Nefario. Is Doctor Nefario a trusted CA Root Certificate Issuer?  My browser says the certificate isn't trusted and that the certificate does not match the URL. But out of curiosity and in all seriousness (on my part, other people may have other reasons), are you going to be getting a different ("trusted") certificate? |
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Update: dividend payout will be delayed until GLBSE.com is back up. Once it is back up we'll get dividends out. Things are still running smoothly, we're about to start implementing a better cooling solution to enable for better overclocking, so updates on that will be appearing in the next few weeks. We won't be ordering any new rigs until dividends are paid out and investment money still in the GLBSE account is withdrawn and sold.
What % of generated BTC (since last dividend payout) will be sent out this round? If you keep on doing 100%, you will have paid for your shares in no time Also, given the way GLBSE dividend payments currently work, it sounds like you will have to make a personal account/portfolio (if you don't already have one) to move your shares to once they get paid for. |
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