I'm announcing the end of Diablo Mining Company.
Although DMC was started to show the world that Bitcoin is ready for large scale business, the actions of several people in our community has proven we're just not ready for this yet.
nefario misrepresented his asset vetting process, he misrepresented the legality of GLBSE as a stock exchange, and he misrepresented his ownership of GLBSE. The SEC is now investigating nefario and GLBSE for fraud for his actions over supporting the Pirate scam. Many people have repeatedly requested a scammer tag for nefario and a URL filter for GLBSE links, and this may come to pass because of his actions.
Pretty much everything on GLBSE except for maybe 5 assets have proven to be either scams or badly managed, and DMC invested in some of this on good faith and the belief nefario knew what he was doing and had properly vetted them before allowing them on GLBSE. nefario has cost not only the Bitcoin investment community a unique opportunity, but he has tarnished the name of Bitcoin itself.
Although I could just reopen DMC on another exchange, nefario's actions has also damaged the DMC name and enticed trolls to attack anyone who DMC has invested in, anyone who has invested in DMC, or anyone even associated with me. Forum drama is not profitable.
I am going to put a bid wall up at 0.0666 as money comes in, it will be first come first serve. If you want out before I finish liquidating assets at the very end, I suggest you sell into that wall now. It may take several months to buy everything back. Sorry Diablo, but i dont like how you speak here. You say the SEC is coming as if you knew it, but you dont know. You then try to say that nefario is the reason why all projects on glbse are losing value. Its not. Miningprojects have to go down in value simply because the dividend goes down because of rising difficulty. And your project going down has nothing to do with nefario. Nefarios actions didnt made the share price drop in any way. In fact it grew because people were in hope that something will be better now. And nefario didnt do anything before to drop your shares price. So dont claim he is the reason. Then... nefario detailed everything what he knew about the owners of a security. Every investor could decide if its worth the risk. Nefario was right here. Unfortunately he wasnt able to do it properly. But you cant blame him in any way. So please dont do it. Its simply not fair to blame him because its plain wrong that he is the bad guy that made all broken. I would like to see you be fair at least. nefario apparently has admitted the SEC has already contacted him about Pirate, although I'm not sure if he as done so publicly. Its not that mining went down in value, its that there is more than one case where people "proved" they had mining hardware with lots of photos, and then they either just keep printing bonds for hardware that didn't exist at cheap prices (way below both their IPO price and the current market price) to go invest the money in either Pirate or simply just pocket it and pyramid pay it out until they could buy ASIC hardware cheap (so they end up with both the money (having spent a tiny fraction of it on the ASIC hardware) and then a large part of the AISC output because they didn't issue 100% of the ASIC in bonds, only half or less). The mining part of the market collapsed because of these people. Even on bond issuers that were legit and didn't abuse investors, their prices went down because people were willing to sell the bonds they bought at half what they paid for them because they could buy the same hash power at half of what they threw those bonds out for (so they lost half their investment value but doubled their dividends). I was able to triple the mhash DMC held because of people throwing their bonds out, but the prices crashed so hard that I would have had to increase it 5x or 6x to not lose value. zapeta claimed I didn't do enough due diligence, but there is only so much due diligence you can do with people you've never met. You can claim nefario did do enough to protect investors on his end, and maybe its true, but its not what I believe. Although GLBSE may not be coming back at all (which a lot of people in #bitcoin-assets think), maybe going forwards nefario can force bond issuers to hand over a large sum of BTC for collateral and also put a lock on the number of shares they can issue (as to not exceed the actual hardware) and also require frequent timestamped photos of the hardware. This would have been enough to prevent a lot of the bond issuer abuse. |
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Uh have you tried to connect to GLBSE lately?? like in the last few hours?
Yeah, it sees nefario took it down. He claims software update, I wonder if the SEC just arrested him and took the site down. First I've heard of software update, where did you hear/read that? People on IRC. If you read it on IRC, it must be true  A software update for the launch of GLBSE 3.0 is plausible.... just so is the SEC extraditing him from the UK to stand trial in the US. |
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Uh have you tried to connect to GLBSE lately?? like in the last few hours?
Yeah, it sees nefario took it down. He claims software update, I wonder if the SEC just arrested him and took the site down. First I've heard of software update, where did you hear/read that? People on IRC. |
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Uh have you tried to connect to GLBSE lately?? like in the last few hours?
Yeah, it sees nefario took it down. He claims software update, I wonder if the SEC just arrested him and took the site down. |
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I'm announcing the end of Diablo Mining Company.
Although DMC was started to show the world that Bitcoin is ready for large scale business, the actions of several people in our community has proven we're just not ready for this yet.
nefario misrepresented his asset vetting process, he misrepresented the legality of GLBSE as a stock exchange, and he misrepresented his ownership of GLBSE. The SEC is now investigating nefario and GLBSE for fraud for his actions over supporting the Pirate scam. Many people have repeatedly requested a scammer tag for nefario and a URL filter for GLBSE links, and this may come to pass because of his actions.
Pretty much everything on GLBSE except for maybe 5 assets have proven to be either scams or badly managed, and DMC invested in some of this on good faith and the belief nefario knew what he was doing and had properly vetted them before allowing them on GLBSE. nefario has cost not only the Bitcoin investment community a unique opportunity, but he has tarnished the name of Bitcoin itself.
Although I could just reopen DMC on another exchange, nefario's actions has also damaged the DMC name and enticed trolls to attack anyone who DMC has invested in, anyone who has invested in DMC, or anyone even associated with me. Forum drama is not profitable.
I am going to put a bid wall up at 0.0666 as money comes in, it will be first come first serve. If you want out before I finish liquidating assets at the very end, I suggest you sell into that wall now. It may take several months to buy everything back.
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Hi,
I'm trying to mine using:
- phoenix 1.7.5
- linux with kernel 3.4.0
- fglrx 1:12-6+point-1
- ATI7970
I'm trying to run it with BFI_INT but it complains "Failed to apply BFI_INT patch to kernel".
Any idea how to fix this?
(without it, it seems that
-k poclbm AGGRESSION=13
is the most efficient: 595 MHash/s, but with loads of "Warning: work queue empty, miner is idle" unfortunately).
GCN does not have that instruction, AMD's OpenCL compiler does the proper thing. Can you elaborate on that? I did not install a package with gcn in the name, only pyopencl and fglrx. GCN is your hardware, 79xx. |
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Hi,
I'm trying to mine using:
- phoenix 1.7.5
- linux with kernel 3.4.0
- fglrx 1:12-6+point-1
- ATI7970
I'm trying to run it with BFI_INT but it complains "Failed to apply BFI_INT patch to kernel".
Any idea how to fix this?
(without it, it seems that
-k poclbm AGGRESSION=13
is the most efficient: 595 MHash/s, but with loads of "Warning: work queue empty, miner is idle" unfortunately).
GCN does not have that instruction, AMD's OpenCL compiler does the proper thing. |
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I agree with DrHaribo, that there should be some minimal timeout between retries.
Unless you're abusing the X-Is-P2Pool header, there is a timeout. |
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A user at my pool retrying the same wrong password 10 times per second with DiabloMiner. Is that how it's supposed to run?
Might be an idea to give up and shut down if the password is wrong, or at least use a much longer delay. It may be that 10 times per second is because of running multiple instances, but still if it is once per second it is pretty extreme.
Most pools do not follow the HTTP spec, so there is no way for DM to detect the difference between a malfunctioning pool and a malfunctioning user. Plus, no one should EVER run multiple instances of DM. If the user has added multiple pools, DM will just go to the next pool after a few failed attempts. |
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Hey all,
Here are the preliminary numbers for September:
Production (in BTC) +649.82
Sale of equip. -
Expenses -200.00
Dividends paid -150.00
Net income 299.82
The difficulty is really starting to take a toll on us. I cannot increase mining capacity fast enough to keep up.
The plan is to continue running the GPU farm indefinitely, until the time comes that expense = revenue. At that point the GPU's will be liquidated.
It is uncertain if we will be able to execute an ASIC upgrade, as the liquidity is not present to float more shares and acquire the necessary capital to purchase the equipment. We will continue to work toward something on that front, but at this point we are up in the air.
This assumes ASICs even exist, btw. Although I have my money behind ASICMINER on this one, there is still a chance ALL the ASIC companies are scams. |
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Nefario isn't a scammer. He's just made some poor decisions for GLBSE from a customer relations standpoint. You can solve this by creating competition.
Or we can have a public transparent management board that takes over all decision making from Nefario and serves as our equivalent to the SEC, one that smickles has a permanent position on it, and by permanent I mean we're kidnapping him and chaining him up in the basement. |
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Happy dividend day, Yochdog!
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Today is the first, the report is going to be late.
The short version is:
106 BTC-MINING * 0.975 = 103.35 BTC
1000 BTCMC * 0.590 = 590.00 BTC
1000 ASICMINER * 0.112 = 112 BTC
0.572 BTC uninvested
805.922 total.
11909 shares trading.
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Ahh, but the problem with all of the current exchanges (including GLBSE) is that they not only provide the service of facilitating the sale, but they also act as the sole recorder of ownership.
I think this is the most important thing here. Asset issuers pay 16BTC up front, and every shareholder pays trading fees, to make this service continue functioning. GLBSE has no policy to deal with moving assets off the exchange, and it badly needs one. Imagine if NASDAQ decided to just suddenly delist Facebook with no warning: the SEC would be so far up NASDAQ's ass, they could collectively taste shoe leather. |
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1 J/GH = 1 Ws/GH = 1 W/(GH/s)
Most important math ever. |
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Based on Nefario's actions with both DMC and Goat's assets, I think maybe it it really is time for nefario to get a scammer tag.
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Sales are now closed.
Final tally:
30,903 shares sold of DI.BFLSC.Fail
7,829 shares sold of DI.BFLSC.Success
We will know in one month if BFL succeeds or not.
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So you are an American building the company in America. Do you have any response to this? Sounds pretty important if the company is going to keep going ahead with building a DC.
I was quoting that more for the whole "nefario was fired from intersango" part than the "Americans are fucked" part. I think both parts are important. Do you not have an answer? I don't hold any Goat assets, so what hes talking about doesn't apply to me I think. My question has nothing to do with Goat. It has to do with you selling shares on an unregulated exchange as an American for an American company. Do you not think this has a potential to be a problem in the future? It seems to me that you are avoiding answering. I'm not avoiding the question, you just didn't make clear thats what your question was. To be honest, with our current government, EVERYTHING might be a problem and be illegal in the future. Congress has repeatedly voted against small business owners (the same businesses that employ 60% of this country) and do everything possible to stop innovation and entrepreneurship especially when it comes to technology. I can't hide in fear because Congress is going to come and take my business away on a whip, if I do that, they win. I think he is asking about right now, not what might happen in the future. I think its up to nefario on this one. If he ends up just closing GLBSE and shafting asset creators and shareholders, then its game over. |
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So you are an American building the company in America. Do you have any response to this? Sounds pretty important if the company is going to keep going ahead with building a DC.
I was quoting that more for the whole "nefario was fired from intersango" part than the "Americans are fucked" part. I think both parts are important. Do you not have an answer? I don't hold any Goat assets, so what hes talking about doesn't apply to me I think. My question has nothing to do with Goat. It has to do with you selling shares on an unregulated exchange as an American for an American company. Do you not think this has a potential to be a problem in the future? It seems to me that you are avoiding answering. I'm not avoiding the question, you just didn't make clear thats what your question was. To be honest, with our current government, EVERYTHING might be a problem and be illegal in the future. Congress has repeatedly voted against small business owners (the same businesses that employ 60% of this country) and do everything possible to stop innovation and entrepreneurship especially when it comes to technology. I can't hide in fear because Congress is going to come and take my business away on a whip, if I do that, they win. |
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So you are an American building the company in America. Do you have any response to this? Sounds pretty important if the company is going to keep going ahead with building a DC.
I was quoting that more for the whole "nefario was fired from intersango" part than the "Americans are fucked" part. I think both parts are important. Do you not have an answer? I don't hold any Goat assets, so what hes talking about doesn't apply to me I think. |
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