Ok, but then the dividends will drop even more ...
How big is the GPU part?

And you can sell them and buy us some BFLS or use the money for upgrade to ASIC anyways.
What is the plan?

Man, this is really bad news.

The investment in pirate recently was a bad move as I personaly did the oposite. I invested in BDK as you said you are clear from Pirate.
Ok, you did that decision when the shares were trading lower ... so I waited ... and now see that I've made a mistake.
But maybe you can get at least part of that debt.

Regarding JRO, I don't know much. Last I read was that it should be solved and that part of that money was blocked on MtGox account.
So I hope that you'll do EVERYTHING to get this money back.

Regarding your idea of closing down BDK and opening up IOU as a new entity - forget about it.
I know that you have in the contract that clause about negative equity but those outstanding debts are still debts ... and volountarily settling them down to get into negative equity ... that would ruine your credibility.

We've invested and we new that there are risks. You made some bad decisions and were treated badly in some good ones. That's bad luck.
But you have to fight till the end and work the way out of this. You shouldn't announce things like that you give up and want to get it settled in a cheap way while planning a new IPO ... this would effectively break your contract where you promised that you'll never sell more shares lower.

We've put our trust in you so stand up to it.

Thanks for the update.

What does this exactly mean?

Are you just taking the GPUs out of service while they are still profitable?
Or are you about to sell them to use the funds for another BFLS purchase or ASIC upgrade?

How do you plan to do it?
Does GLBSE has any provision for it?
If not, how do you identify the shareholders?
And if you transfer extra shares to everybody then there are fees.

Sorry, just curious.
Pajka

Sorry, I didn't explain well myself. I was talking more in general without stating it.
Generaly it doesn't have to be so. They could be the executive board. But that would have to be stated in the contract or standing orders. That's not the case of ASICMINER also because ... see next point
In case of ASICMINER the executive part is in Bitfountain only and ASICMINER as whole is only shareholder and ASICMINER's board is more like Control board.
Well that might be problem if there is only few large investors who control small part (ie. less than 50%) and a lot of small investors. In such case they could take advantage of their position but I don't expect it to be the case here as I expect large percentage of ASICMINER's shares to be owned by the board members. Anyway that would be an interesting information to know.
Yep and I believe that this will be a success and want to thank Friedcat for the great work he's doing in managing this IPO and communicating with us.
Thanks!

The Board can do 2 things:
1) give the large share holders more information - well that could be considered insider info which would put them into advantageous position against the smaller shareholders - BAD
2) let them have a vote in some decisions - well that's OK ... BUT
- there should be somehow specified and publicly presented what the Board can decide and what has to be decided in a motion ... as of now I understand it only as a communication platform because everything should go through a motion but it's a good platform to formulate a motion
- if the Board should have any decions making rights then we need each member to prove they still own 5000+

As of now GLBSE lacks this functionality so we should stick with what is implied by this.
I agree with Friedcat that it should stay optional for the share holders and effectivelly reserved for such cases where the share holders want to prove to the issuer that they own the shares.

120% PPS promotion extended till the end of September

Hi Inaba,
what has happend that now we pay dividends to 400 shares more?
Pajka

I've found that the new buy orders are there ... but it took them some 5 mins before showing up

same here ...
and now I am also unable to put buy order if it doesn't fill an existing sell order. I am able ... but it takes some 5 mins before they show up on the order book ...

My buy orders are disappearing as well even though I have enough to cover them ...
I now I am even unable to place a new buy order ... it just doesn't show up ... they did show up after some 5 mins
Filling in sell orders and placing them works.

Works fine ...
except for the fact that I get "page not found" always when I click to cancel an order ... though the order gets canceled
Pajka

Thanks a lot, Nefario. Great to hear that it is implemented!

Do you consider for some future update that the buy orders would be only disabled (taken out of bid list) until the balance gets above the order cost?
Or do you prefer to sort this out with margin trading only?
What condition do you plan on margin trading (if it isn't to early to ask)?

Pajka

Well, in fact I loved it back in the days when those 10 shifts covered whole 24h.
I don't care too much any more as I'm non-stop miner but I know that my brother mines only few hours a day ... and he would definitelly appretiate the fact that if he mines 2 hours a day that he would be getting 1/12 of each shift during the following 24h ... but as of today that would mean we would need more than 80 shifts.
Anyway it's just variance ... over longer period of time it gets averaged anyway.
Pajka

Together with Havelock Investments, Gigamining, Cognitive Mining and Synergy we have been chosen by the new Blue Chip BTC 10 Mutual Fund.
For more more details see
https://glbse.com/ipo/192
https://glbse.com/asset/view/BLUECHIP
https://docs.google.com/spreadsheet/ccc?key=0AnpbJ9eMVdSodHYyVVNHUVh2OEtVYWd6NDFoY0pCalE#gid=0

Nothing that I would be aware of except for high BTC price.
I feel it unfair to other who bought at 0.1 to lower the IPO price ... so I do keep it as it is ...
on the other hand I understand that with the actual BTC to USD price it is a bit off ...
We need the BTC prices to stabilize again ... meanwhile (if you believe that the actual BTC price is unsustainable in the long term) the decision is ... or to buy cheap (in BTC) mining bonds/shares or to sell BTC to USD.
Pajka

Thanks for clarification.
Higher mhash/share is good and the fact that the dividend per share doubled is a good sign of it.
I am just unsure if buying back is the right thing when we want to sell shares to get the money for the big thing.

What has happend that we have
1) less hashing power this month 8759 mhash versus last month 11574 mhash?
2) less shares sold this month 2993 shares versus last month 4066 shares?

Promised overview table added to the second post.

Decided to prolong the 120% PPS daily payout promotion for entire month of August.

Good idea ... I'll make a nice table in the second post over weekend. Thanks