23 upgrade eligible BFL singles that may never be upgraded because BFL may never ship ASICs in time to be profitable.
$400/day of litecoin is less than 4 BTC, and we own a tiny tiny fraction of that.
600+ in dividends that we, too, own a tiny fraction of.
There is something like 50k shares of BTCMC, we have 1k.
600 / 50000 / 1000 = 0.000012 BTC per DMC share
4 a day / 50000 / 1000 = 0.00000008 BTC a day per DMC share
23 upgrade eligible BFL singles / 50000 / 1000 = 0.000000046 of one BFL single per DMC share
Thank you for the timely and well-considered response.  Since you believe DMC's 1000 shares of BTCMC are worthless, I will generously (pending Yochdog's approval) buy them immediately, or the right to own them when eventually transferable, for BTC1.0. That is exactly BTC1.0 more than you think they are worth, so please do the right thing for DMC's long-suffering shareholders and recuperate some salvage value for them. |
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Hi Yochdog! Diablo has suddenly decided to strip us DMC shareholders of our ownership of/exposure to BTCMC.  He says it's "worthless" because it isn't trading and BFL is lagging.  He claims your hardware and infrastructure most likely will be thrown out or sold for what little scrap value they have.
His hare-brained scheme is to steal DMC's investment in BTCMC and use it for DMC 2.0, which is some blue-sky fantasy about disrupting cloud storage completely unrelated to Bitcoin.  Any advice?  |
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Fuck, not that shit AGAIN!
For misty eyed naive newcomers. BTW, this is not the first time when DiabloD3 fucks over his investors.
DiabloD3, blaming someone else for your stupid blunders got old about 30 pages ago.
Again, you prove you can't do math.  ARE YOU REALLY SAYING 23 UPGRADE-ELIGIBLE BFL SINGLES ARE "WORTHLESS???"
ARE YOU REALLY SAYING $400/DAY OF LITECOIN MINING POWER IS "WORTHLESS???"
ARE YOU REALLY SAYING BTC600+ IN DIVIDENDS ACCUMULATED FOR REINVESTMENT IN ASICS ARE "WORTHLESS???"
WHO ARE YOU TRYING TO FOOL??? |
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I believe BTCMC has been a failure because yochdog relied on BFL units that may never arrived, and if they do they may not turn a profit by the time they arrive. There is no equity, the assets BTCMC holds are worthless (again, if they exist at all, BFL has not sufficiently proved they have the capacity to produce units), and BTCMC is not currently being traded.
You have been outvoted by the majority of shareholders on this one.
I am not assigning a value to BTCMC. I do not believe BFL can ship the units in time to make a difference and will be not worth the money yochdog paid for them (assuming they do arrive), and the money that is lost (ie, most of it) was lost in the Bitcoinica scam and most likely will never be returned. BTCMC does own GPUs, but because they have custom heatsinks to be rackmounted with high output fans, yochdog cannot find a buyer (even for non-mining users) and most likely will be thrown out or sold for what little scrap value they have.
Why not make DMC 2 completely separate from DMC 1 by keeping the 1000 BTCMC shares in DMC 1, just in case BFL comes through or Yochdog makes other arrangements? You keep repeating these false statements about how BTCMC is "a failure" and "worthless" but they are not true and easily refuted. BTCMC has at least BTC600 in cash, which Yochdog bid on AM blades. Source: Re: ASICMINER Auction: 10 Block Erupter Blades 10 @ 60 BTCMC also owns at least $20k in hardware, installed and producing in ideal locations. Source: Here is a breakdown of our hardware:
7970 22
5970 16
6950 7
6970 2
6870 1
6870X2 4
5850 5
5870 3
BFL singles 23
And of course all the MOBOs, PSUs, CPUs, etc that run all that equipment.
You can assign your own salvage values, but $20,000 seems VERY conservative to me.
Electricity is amazingly cheap. 2 of our locations provide free power, and we have over 16,000 MH/s installed in those 2 locations. The other 2 locations have consumption based pricing, and the incremental cost per KWh is $.031.
Loan is backed by my massive mining operation, which can be seen on notroll.in. I am generally the top miner at 45,000 KH/s +. |
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BTCMC has no value. Yochdog says he ordered BFL units and has not been paying dividends and is not traded anywhere and you can't sell it like you can AM shares.
If there is any value in these, this will be retained for DMC 2.0, but as I said, I believe they have zero value.
Continued operation of DMC 1.0 makes no sense. We can not get to where we want to go from here. So either take an offering of your share of ASICMINER, or pledge your support of DMC 2.0, thats your only two options.
You are confusing liquidity with value. Did AM have "no value" before the pass-throughs, when it was "not traded anywhere?"  Your personal opinion of BTCMC's worth doesn't agree with the market, which has placed a premium on DMC shares over their 1/11 AM backing. Why? Because BTCMC has value in the form of producing assets, expertise, personnel, branding ,reputation, accumulated dividends, ASIC orders, and money tied up in Goxcoinica: BitCo is a mature organization with stable operations. Through our network of 40+ miners in 3 locations, we are able to achieve a maximum mining capacity of 40 GH/s. Our technical know-how allows us to achieve fantastic up-time with few unplanned outages. Our cost structure is very low due to favorable cooling methods as well as very cheap electricity.
We currently have mining operations across 3 locations:
1) A residential office, with 30,950 MH/s of capacity. Nearly maxed out.
2) 2,000 SF class A office space with 11,503 MH/s of capacity. Nearly maxed out.
3) 3,500 SF class A office space with 4,500 MH/s of capacity. Nearly maxed out.
We own dozens of BFL singles, and will use those towards upgrading to as many BFL asics as we can no dividends will be paid out until our ASIC hardware arrives. I will be presenting updated financials once we receive the new hardware, which I hope is within 30 days.
What we all need to do is put pressure on MT Gox to assist the receiver with the Bitcoinica debacle, as the amount of money we have tied up there is now approaching $100,000. DMC 2.0 has zero value, unless you plunder 1.0 and steal our BTCMC shares to shore it up. I don't want to go anywhere near DMC 2.0. Compete with Amazon and Rackspace for cloud storage? LOL, good luck with the pipe dream buddy. And pass that dutch!  Let me be clear: if you proceed in breaking your promise ("DMC will be buying back shares at market rate over time") and stealing your shareholders' equity in BTCMC, I will report the breach of contract and theft to the Bitcoin Police. |
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In 60 days, DMC will no longer be honoring shares that have not taken either choice A or choice B. There are several users who have NOT claimed their shares on BitFunder, in 60 days from this date if you have not claimed them and traded them for ASICMINER or been added to the list for conversion into DMC 2.0 bonds, they will no longer be valid.
Choice A: 11 shares of DMC for 1 share of ASICMINER, whole integer amounts only.
Choice B: Trade 1.0 shares in for 2.0 bonds Problem 1) Nothing is mentioned about this sudden change of plans in the DMC asset description at https://bitfunder.com/asset/DMC, which says DMC will be buying back shares at market rate over time. Problem 2) Neither choice A nor B assign any value to BTCMC ( https://bitcointalk.org/index.php?topic=85443.180), which has large amounts of money tied up in disputes and large amounts of dividends re-invested into ASICs. Hey guys,
As I have stated before, no dividends will be paid out until our ASIC hardware arrives. I will be presenting updated financials once we receive the new hardware, which I hope is within 30 days.
What we all need to do is put pressure on MT Gox to assist the receiver with the Bitcoinica debacle, as the amount of money we have tied up there is now approaching $100,000. Problem 3) DMC has been trading at a substantial premium to the value of 1/11 share of AM (demonstrating the value added by BTCMC) but this forced choice destroys any rational for that valuation. Problem 4) This unsolicited, involuntary A/B choice functionally steals DMC shareholders' 1000 share stake in BTCMC, right at the time when Yochdog is due to begin ASIC mining. |
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Losing shares to stratum disco; Loc. N. America. |
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That's right! "At some point all" the dot coms became worthless.
Especially Google. And Apple. And Yahoo. And Pandora.
/fucktard lol, you must not a baby that time, remember these? InfoSpace, webvan, freeinternet.com, startups.com, open.com, pets.com, etc etc I've been in silicon valley for 20 years and saw them up and down. now the alt coins exactly the same, albeit a lot less in scale. Yah me too. Milk and cookies dot net was the worst. Don't forget VA Linux. But it's not valid to claim "all" dotcoms failed, just because, like most new ventures in any sector, many of them did. |
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I'll just mine for the money now, not for trying to improve and make the cryptocoin concept be a new way of making payments and get out of the Fiat Scam. The reason is that we're getting a flood of shtcoins ruining the show. First example is Feathercoin, it brings nothing new to the table but it had a huge and very smart marketing campaign along with alliances like BTC-e to get a lot of profit in a short time, now I can see the same being done with CHN (CNC) and I guess this is going to be an ongoing trend. The problem with this "alt coins" is that they are derailing the original purpose of BTC and now it's just a speculation game with tulips. In a few years we will have a flood of cryptos with a lot of volume, more and more altcoins with good planning and marketing (Shills on this forum) which will eventually end in serious coins like BTC and LTC on the same level as these jokecoins. Anyway right now I'm mining FTC, will flip them for profit then ride the next train until all this fad dies off. Thank you for ruining the game phaggots. All that, and you newb to b!tch about Novacoins.  |
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this alt coins like the dot com back in 1999-2000, everyone tries to push for it, the result: more and more comes out, at some point all will become useless, lol
That's right! "At some point all" the dot coms became worthless. Especially Google. And Apple. And Yahoo. And Pandora. /fucktard |
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great pool, but my rate keeps dropping periodically. does it pay transaction fees? it took a lot to pry me off GML, but you did it! |
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I would be glad to see Silk Road shut down for good.
Why? Puritanism: the haunting fear that someone, somewhere is having a good time. - H.L. Mencken |
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And no one gave a flying fuck.
IKR? Who cares? What could possibly go wrong?  |
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I know they announced it but, any idea WHEN LTC on mtgox? Litecoin is already on mtgox, it started a couple of days ago. But the LTC/BTC trading floor is in a hidden area, only accessible to high-rollers. Volume is huge, and still growing! Today's BTC crash is a direct result of money moving out of BTC and into LTC. /trollbox chikkun  |
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Looks like the wall has been breached. Current price is 1.298.
Awesome! Thanks for the update. It's nice to see breaking news about the AM security in the Securities>AM thread, exactly where it belongs.  |
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good job building up the bitcoin + kiddie porn seo with this thread, guys.
And likewise, you've done some great work by bumping the thread. |
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Hi, I have an 850W certified gold PSU. It's running between 840-850Watts. Is it ok to run it at it's load? How long will it last? Or should I lower my cards?
It's fine to run full load in a cool, well-ventilated room. Don't push it if your place is warm and stuffy, because heat increases electrical resistance. Brand also matters. Antec, Corsair, or Dell? Good to go! |
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Someone is currently trying to break into the pool server via social engineering with my hosting provider. I'm working on it and in discussion with my hosting provider.
Time for a clever honeypot. Go Cuckoo's Egg on them. Hack the hackers, like a Boss. |
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EDIT: On second thought, I think this is essentially a network neutrality problem. Ding Ding Ding a winnar is you! Now let's stop setting our hair on fire and learn about "Common Carriers." Because ISPs are no longer prohibited from discriminating among different types of content under common carrier law, Internet providers may charge additional fees for certain kinds of services, such as Virtual Private Networks. Some network neutrality supporters advocate reclassifying all ISPs as common carriers in order to prevent content discrimination. Internet networks are, however, already treated like common carriers in many respects. ISPs are largely immune from liability for third party content. The Good Samaritan provision of the Communications Decency Act established immunity from liability for third party content on grounds of libel or slander. http://en.wikipedia.org/wiki/Common_carrier#General/Drama |
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