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Author Topic: possible stock offering?  (Read 1689 times)
Epinnoia
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May 31, 2011, 03:41:31 PM
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I spent the past month generating bitcoins (via pool) on an old system of mine with an ATI HD 4550.  While not up 24/7 that entire period of time, I was lucky to generate a full bitcoin in a little more than 30 days.  And considering today's prices, that's about $9.50. 

My hardware is certainly below the curve right now.  The power supply is only 430 watts, and the best I can expect out of that 4550 is about 7 MH/sec.

So I am proposing to issue stock at http://glbse.com/ to fund the acquisition of a new power supply and a better (best?) video card.  The rest of the system (os, hard drive, case, RAM, cpu) already exists, and is fairly modern -- E8200 cpu @2.66 GHz, 4 Gig RAM, Windows 7 Ultimate.  I'd generate bitcoins with this system to pay all investors.  Which pool(s) I point the system to will be decided by investors.

Should I aim big and try to fund a 6990 (758ish MH/sec around $700), or just a 6870 (275ish MH/sec around $190)?  How many video cards could be supported on a 1000 watt power supply? 

Any comments and/or suggestions appreciated. 


My first miner -> ATI 4550 (7.2 Mh/sec): 
https://www.facebook.com/groups/cryptospeculators/
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Reckman
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May 31, 2011, 03:49:02 PM
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HD 5850 is the most economical card right now, 150 dollars ususually 340 mhash with modest overclock, and you can use a sub 1kw psu which saves a bunch of money
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May 31, 2011, 03:51:05 PM
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5850 - best card (if you can find them)
5830 - not exactly the best, but the cheapest, good for starting out
6xxx - sucks for mining, in terms of MH/$
As for your mining rig, you'll need approximately 200 W for each (58xx) card, plus 100 - 150W for your CPU/Motherboard.

It is pitch black. You are likely to be eaten by a grue.

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May 31, 2011, 03:52:02 PM
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Why I should invest in you, instead of say, Dishwara?

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May 31, 2011, 03:53:38 PM
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Why I should invest in you, instead of say, Dishwara?
Dishwara has unstable power supply Tongue

It is pitch black. You are likely to be eaten by a grue.

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Epinnoia
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May 31, 2011, 03:59:24 PM
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Why I should invest in you, instead of say, Dishwara?

What's your ROI with Dishwara?  

Upon first glance, he seems to be doing something similar.  In which case, it's a matter of which of us two is willing to give you more.  And also a matter of spreading your risk around.  

Unless he has changed something, I found this:

Quote
Dishwara:

SH gets 40% profit, i take 5-10% profit(will be decided after voting), while the remaining 50-55% profit stays IN for Paying electricity bills, future expansion, failure prevention, safety..........

I'd be willing to give shareholders 100% of all generated coins until their original investment is paid off.  And I am amenable to suggestions beyond that point.  I would think that 50-55% for all those incidentals is a bit high.  But I suppose it depends on how much of that is pumped into more MH/sec.

Would you be more interested in a target ROI?

My first miner -> ATI 4550 (7.2 Mh/sec): 
https://www.facebook.com/groups/cryptospeculators/
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May 31, 2011, 04:15:52 PM
 #7

5850 - best card (if you can find them)
5830 - not exactly the best, but the cheapest, good for starting out
6xxx - sucks for mining, in terms of MH/$
As for your mining rig, you'll need approximately 200 W for each (58xx) card, plus 100 - 150W for your CPU/Motherboard.

doing pool mining, how many BTC / mo can you expect with each 5850? 25? 30?
Epinnoia
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May 31, 2011, 04:22:00 PM
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5850 - best card (if you can find them)
5830 - not exactly the best, but the cheapest, good for starting out
6xxx - sucks for mining, in terms of MH/$
As for your mining rig, you'll need approximately 200 W for each (58xx) card, plus 100 - 150W for your CPU/Motherboard.

doing pool mining, how many BTC / mo can you expect with each 5850? 25? 30?

The bitcoin mining table shows that the 5850 is capable of about 270 MH/sec.  Plugging that into deepbit's statistic screen, and it says roughly 0.56 BTC/24 hours.  (obviously subject to difficulty).

At 0.56 BTC/24 hours, you'd expect 16.8 BTC in a month. 

My first miner -> ATI 4550 (7.2 Mh/sec): 
https://www.facebook.com/groups/cryptospeculators/
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May 31, 2011, 04:28:55 PM
 #9

5850 - best card (if you can find them)
5830 - not exactly the best, but the cheapest, good for starting out
6xxx - sucks for mining, in terms of MH/$
As for your mining rig, you'll need approximately 200 W for each (58xx) card, plus 100 - 150W for your CPU/Motherboard.

doing pool mining, how many BTC / mo can you expect with each 5850? 25? 30?

The bitcoin mining table shows that the 5850 is capable of about 270 MH/sec.  Plugging that into deepbit's statistic screen, and it says roughly 0.56 BTC/24 hours.  (obviously subject to difficulty).

At 0.56 BTC/24 hours, you'd expect 16.8 BTC in a month. 


well then, that's not really worth it, is it?

A 5850 is about 200 cdn used, 230 refurb, 270 new.

16.8 BTC * $8.50 US = $142.80 / mo so it would take 42 days to break even on the $200 cost not counting electricity
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May 31, 2011, 04:34:22 PM
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Quote from: trueimage
well then, that's not really worth it, is it?

A 5850 is about 200 cdn used, 230 refurb, 270 new.

16.8 BTC * $8.50 US = $142.80 / mo so it would take 42 days to break even on the $200 cost not counting electricity

Your prices are a bit high, IMHO -- I would go for an OEM card if possible.

I expect that the card would pay for itself after a little more than a month, yes.  Why do you think that makes it 'not really worth it'?  Most people would be quite happy to double their money in 3 or 4 months.  

I am not sure if the 5850 will run with only a 430 watt power supply.  But supposing it did, I could pay everyone their initial contribution back within 1 month.  And assuming I would need a different power supply ($100ish), everyone would be paid back within 2 months.  So anything beyond the first 2 months would be nearly pure profits.  And it's not as if they have to wait the full 2 months to be paid out -- the bitcoins generated by the machine will be paid out at least weekly.

My first miner -> ATI 4550 (7.2 Mh/sec): 
https://www.facebook.com/groups/cryptospeculators/
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May 31, 2011, 04:46:28 PM
 #11

Dishwara has just paid his first dividend. Has something of a history on this forum. He has reputation because he hasn't scammed anyone.

You have 4 posts to your name, what kind of collateral can you offer in the event you try to run with the money?

Probably want to be something non physical, like a WoW profile that's worth around the same value as what your looking for.

What about your facebook account? Offer that as collateral. 

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
Epinnoia
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May 31, 2011, 04:51:04 PM
 #12

Dishwara has just paid his first dividend. Has something of a history on this forum. He has reputation because he hasn't scammed anyone.

You have 4 posts to your name, what kind of collateral can you offer in the event you try to run with the money?

Probably want to be something non physical, like a WoW profile that's worth around the same value as what your looking for.

What about your facebook account? Offer that as collateral. 

I have a WoW account with over 240k gold on it.  Not sure how that adds collateral to the equation, though. 

If there were only a handful of investors, I would not mind sharing not only my facebook profile, but also skype.  I don't mind speaking to investors on skype at all. 


My first miner -> ATI 4550 (7.2 Mh/sec): 
https://www.facebook.com/groups/cryptospeculators/
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May 31, 2011, 05:00:32 PM
 #13

I mean offer your facebook and WoW account(or gold) as collateral, give the username and password to a third person who then keeps hold (by changing the username and password) until you meet certain conditions.

Find someone on the forum who is a trusted party, someone with reputation on the forums and have them be the third person. They can verify they have control of your account's to everyone else. You then instantly have more trust (if your facebook account is legit), and shouldn't have a hard time raising capital.

The third party should recieve a small fee for this service.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
Epinnoia
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May 31, 2011, 05:08:01 PM
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I mean offer your facebook and WoW account(or gold) as collateral, give the username and password to a third person who then keeps hold (by changing the username and password) until you meet certain conditions.

Find someone on the forum who is a trusted party, someone with reputation on the forums and have them be the third person. They can verify they have control of your account's to everyone else. You then instantly have more trust (if your facebook account is legit), and shouldn't have a hard time raising capital.

The third party should recieve a small fee for this service.

I see.  I play WoW, so I am not going to cancel my subscription and stop playing in order to do this.  I wouldn't mind letting someone hold some WoW gold for the first couple months.  Or I could dump the gold into the guild bank, and make someone the temporary guild leader.

I also use facebook -- mostly to keep in touch with family and friends.  I'm not going to give someone access to that.  I would make them friends, however.  And that would give them full access to who I am.

I would be providing everything in the computer besides the GPU and power supply, as well as a location and electricity.  And I am promising to hand out 100% of the generated bitcoins to investors until their original investment amount is returned -- on a weekly basis.   

I am interested in what investors would think reasonable for them AFTER they've been paid back their original investment.

My first miner -> ATI 4550 (7.2 Mh/sec): 
https://www.facebook.com/groups/cryptospeculators/
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May 31, 2011, 05:18:55 PM
 #15

You're choice, just outlining a method to reduce the risk of you being a scammer.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
Epinnoia
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May 31, 2011, 05:25:02 PM
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You're choice, just outlining a method to reduce the risk of you being a scammer.

You offered a method to reduce the 'perceived' risk of my being a scammer.  There's a difference.  From my perspective, you didn't offer a method of reducing the risk that I *AM* a scammer.  Because that's at 0%.  Now, granted, you don't know that.  But I do.

Generally, investors expect a higher ROI for risk.  Given that I am only asking to be 'entrusted' with less than $300 total, I think that's a bit safer for investors who invest in projects worth tens of thousands -- projects where the investors are on the hook for everything, mobos, cpus, ram, hard drives, etc.  In this case, it's only the two most significant pieces -- the PS and GPU.

I figure I will need at most about 40 bitcoins to get started with this.  If I could find 4 people each willing to invest 10 bitcoins, I'd be willing to give my home telephone number to each of them!!!



My first miner -> ATI 4550 (7.2 Mh/sec): 
https://www.facebook.com/groups/cryptospeculators/
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