[OPEN] Confirmed*PAID* USA NO VAT KnC Neptune#3 - .25 BTC = 17 Shares = ~60 Gh/s

[Paranoia]

Here are some thoughts on how the company could work.

• Once you have joined the company you no longer own shares in an individual machine. Instead you own shares in a pool of machines. This means that your income is not dependant upon a single machine but it also means that if any machine breaks down your income will decrease.
• A percentage of generated BTC is kept back so as to provide funds for emergencies. This should be capped based upon the total value of the companies assets.
• Broken machines are repaired (or replaced) from the emergency fund. Without this the Gh/s of each share will decrease over time.
• Shareholders may sell or transfer any number of their own shares without the permission of any other shareholder.
• A publicly available list of all shares and the bitcoin address distributions are made to should be maintained. This would allow 3rd parties to verify you own any shares you are selling and to verify that you have transferred the shares.
• Any share transfer is the sole responsibility of the individuals involved and not the company.
• New shares are only issued for new machines (not replacement or second hand machines) and the number of shares issued is based upon the hash rate of the machine. This will allow bigger and faster machines to join the company at a later date.
• Shares are issued at the rate of one share for every 100/429 Gh/s. This would mean that 1 share in a Saturn would get you 11 shares in the company and 1 share in a Jupiter would get you 12 shares in the company.
• When a new machine first arrives all bitcoins (less costs) generated by that machine are distributed to the machine owners until the first bitcoin payout date. At that point new shares are issued for the machine and the new machine starts generating bitcoins for all the shareholders. For example, if bitcoins are paid to shareholders every Sunday at midnight and a new machine arrives on Wednesday then the owners of the new machine get the bitcoins generated up to midnight Sunday. After that, the owners get shares and generated bitcoins go into the pool.
• The company can use its own funds to purchase new (as opposed to replacement) machines and thus increase the hash rate per share.
• In any company vote it is one vote per share and not one vote per person.

[1714822651]

1714822651

[1714822651]

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[aar0]

So I really need an answer to my original question of expected delivery/operation date.
If you don't know the exact date can you give me a ball park or a range, a best guess maybe?
This is the crucial piece of information I need before buying.

[Bigdaddyaz]

Just sent 2.1 BTC for 3 Jupiter shares.

TXID: b48e30af71976e873a1e62c4eca0cb0ce4d3f407df694c64f69ad2e53b676269

[lajz99]

Sent $ via paypal for an additional share.

[peterlex]

Due the merge of Saturn11 and Jupiter1 mightycount has caught in the middle, so he has some shares in Jupiter1 and Jupiter2. Check here: https://bitcointalk.org/index.php?topic=233624.msg2690298#msg2690298

Sure, has the shares were split the paypal amount could also have been split. Maybe it's easier to ragingazn628 to track transfers.

I just noticed that mightycount is listed at $500 PP but only with 4 shares?

Caught a serious cold with constant migraines. Feeling a lot better now. I will be catching up with replies and PMs

Hope you're feeling better, can't wait for more machines to be ordered (despite the fact that I probably won't be buying in to any more).

Are you going to start working on the Google Docs spreadsheet again? I was getting a bit worried

Indeed!

Jupiter #2:

mightycount $500 PP - 4 Shares
Bamdad - .55 BTC - 1 Share
Fantazygirl  - $200 PP - 4 Shares
jongaper - 1.6 BTC - 2 Share
m_yaw - .6 BTC - 1 Share
2400baud - $100 PP - 2 Shares
peterlex - $500 PP - 10 Shares
jamesc760 - .5 BTC - .4 BTC pending - 1 Share
antihero_929 - 3.6 BTC - 4 Shares
DugOutDad - 3.6 BTC - 4 Shares
dma88 - $100 PP - 2 Shares
phongnv - $150 PP - 3 Shares
wiredmine - $100 PP - 2 Shares
wolfskill - .9 BTC - 1 Share
SeriousWorm - 3.6 BTC - 4 Shares
piecinitup - .9 BTC - 1 Share

46 / 143

[danieldaniel]

So I really need an answer to my original question of expected delivery/operation date.
If you don't know the exact date can you give me a ball park or a range, a best guess maybe?
This is the crucial piece of information I need before buying.

I think KNC Miner is saying September.

[aar0]

Just sent 3.5BTC for 5 shares

Transaction ID: 4f1bf3b49dcf1e16308a5dd248cd7c5344c5caea3f9861dd99e98c205316f498

so this means ~14GH/s right.

Do I need to do any other actions like contribute to the Google docs or something?

[ragingazn628]

Jupiter #2:

mightycount $500 PP - 4 Shares
Bamdad - .55 BTC - 1 Share
Fantazygirl  - $200 PP - 4 Shares
jongaper - 1.6 BTC - 2 Share
m_yaw - .6 BTC - 1 Share
2400baud - $100 PP - 2 Shares
peterlex - $500 PP - 10 Shares
jamesc760 - .5 BTC - .4 BTC pending - 1 Share
antihero_929 - 3.6 BTC - 4 Shares
DugOutDad - 3.6 BTC - 4 Shares
dma88 - $100 PP - 2 Shares
phongnv - $150 PP - 3 Shares
wiredmine - $100 PP - 2 Shares
wolfskill - .9 BTC - 1 Share
annoSerious - 3.6 BTC - 4 Shares
piecinitup - .9 BTC - 1 Share
azenor - $300 PP - 6 Shares
gtdevo - 2.1 BTC - 3 Shares
aar0 - 3.5 BTC - 5 Shares


63 / 143

[ragingazn628]

Also please cast your vote for the company name so I can buy the domain and set something up!

https://docs.google.com/forms/d/1zcH5LWsRz_JJ0gEIpIVR0tFNDXzeEI2UoYdq1Os72sI/viewform

[ImThat1Guy]

Also please cast your vote for the company name so I can buy the domain and set something up!

https://docs.google.com/forms/d/1zcH5LWsRz_JJ0gEIpIVR0tFNDXzeEI2UoYdq1Os72sI/viewform

If odysseyminers and odysseymining end up with the highest percentage in total, but neither is first separately, will you still choose that as the name? They're very similar and I'd bet votes will be split.

ie if you've got

SolarMiners.com 10%
GalaxyMiners.com 20%
odysseyminers.com 10&
odysseymining.com 15%
miningodyssey.com 5%
reddwarfmining.com 5%
weminebitcoin.com 10%
jupiterminingcorp.com 15%
KryptoMiners.com 10%

will you pick odysseymining because it's clear that "miners"/"mining" split the vote, but if there was only one of the two it's clear it would have won?

[nobunaga]

bought 8 shares via Paypal. my Unique Transaction ID # 51D31062TW320381R. please confirm
my btc address to receive profits is 12mPjyDmq27f6aMGytjNWCGR3e5VjqiMXs

Thank you,

[floatyfish]

Here are some thoughts on how the company could work.

• Once you have joined the company you no longer own shares in an individual machine. Instead you own shares in a pool of machines. This means that your income is not dependant upon a single machine but it also means that if any machine breaks down your income will decrease.
• A percentage of generated BTC is kept back so as to provide funds for emergencies. This should be capped based upon the total value of the companies assets.
• Broken machines are repaired (or replaced) from the emergency fund. Without this the Gh/s of each share will decrease over time.
• Shareholders may sell or transfer any number of their own shares without the permission of any other shareholder.
• A publicly available list of all shares and the bitcoin address distributions are made to should be maintained. This would allow 3rd parties to verify you own any shares you are selling and to verify that you have transferred the shares.
• Any share transfer is the sole responsibility of the individuals involved and not the company.
• New shares are only issued for new machines (not replacement or second hand machines) and the number of shares issued is based upon the hash rate of the machine. This will allow bigger and faster machines to join the company at a later date.
• Shares are issued at the rate of one share for every 100/429 Gh/s. This would mean that 1 share in a Saturn would get you 11 shares in the company and 1 share in a Jupiter would get you 12 shares in the company.
• The company can use its own funds to purchase new (as opposed to replacement) machines and thus increase the hash rate per share.
• In any company vote it is one vote per share and not one vote per person.

When you talk about the new machine arriving, are you talking about a machine that was already ordered, or a machine that will be ordered after all the original machines have been ordered and delivered?

Also, I like how you bring up the fact of an emergency fund. I think it's worth talking about how we will juggle the removal of funds from payouts in order to cover expansion/breakage of machines.

Your point about joining the company and owning shares in a pool of machines is good idea, but I'm assuming that early adopter's would have to share their proceeds with eveyrone who bought in later, no? That could be problematic.

Apologies if what I'm asking isn't making sense, it's late here.

[Paranoia]

When you talk about the new machine arriving, are you talking about a machine that was already ordered, or a machine that will be ordered after all the original machines have been ordered and delivered?

Both. I've got to wait for a Jupiter to be delivered before I start earning anything or can join the company. It wouldn't be right for me to have a share in any proceeds until my machine is delivered and producing coin for the pool.

Also, I like how you bring up the fact of an emergency fund. I think it's worth talking about how we will juggle the removal of funds from payouts in order to cover expansion/breakage of machines.

The emergency fund could simply be allocated some shares and receive payouts like everybody else. Alternatively, when calculating distributions, the values could be rounded down with the rounded part going into the fund. For example, if each share is supposed to get 0.033333333 BTC then it could be rounded down to 0.03333BTC and the extra 0.000003333 going into the emergency fund.

Your point about joining the company and owning shares in a pool of machines is good idea, but I'm assuming that early adopter's would have to share their proceeds with eveyrone who bought in later, no? That could be problematic.

No. Early adopters should get their reward for being early adopters (I'm a late adopter).

Lets say that 4 Saturns have been delivered and each one generates 1BTC every week. Every Sunday, at midnight, all the generated bitcoins are distributed to the shareholders.

Everybody with a share in the first 4 Saturn has 11 shares in the Company. This means that there are a total of 3432 (4x78x11) shares in the company.

On Sunday, at midnight, every Company share gets 4/3432 BTC = 0.0011655 BTC.
On Wednesday, Saturn #5 is delivered and powered on. Over the following 3.5 days (until midnight Sunday) it generates 0.5 BTC.
On Sunday, at midnight, every shareholder of Saturn #5 gets 0.0064103 BTC (0.5/78). Every share in the Company gets 4/3432 BTC.  858 (11x78) new shares are created in the Company and exchanged with the owners of Saturn #5.

The company now has 5 Saturns and there are now 4290 shares in the company.

The following Sunday 5 bitcoins have been generated over the previous 7 days and each share in the Company get 5/4290 BTC = 0.0011655 BTC.

[emeraldforce]

One share for now. More soon. Thank you!

Transaction ID: f57e96b352a59f02c6e725dcc1943c93a329836303411fc7fd1612ae1be5e503

[ragingazn628]

Jupiter #2:

mightycount $500 PP - 4 Shares
Bamdad - .55 BTC - 1 Share
Fantazygirl  - $200 PP - 4 Shares
jongaper - 1.6 BTC - 2 Share
m_yaw - .6 BTC - 1 Share
2400baud - $100 PP - 2 Shares
peterlex - $500 PP - 10 Shares
jamesc760 - .5 BTC - .4 BTC pending - 1 Share
antihero_929 - 3.6 BTC - 4 Shares
DugOutDad - 3.6 BTC - 4 Shares
dma88 - $100 PP - 2 Shares
phongnv - $150 PP - 3 Shares
wiredmine - $100 PP - 2 Shares
wolfskill - .9 BTC - 1 Share
annoSeriousW - 3.6 BTC - 4 Shares
piecinitup - .9 BTC - 1 Share
azenor - $300 PP - 6 Shares
gtdevo - 2.1 BTC - 3 Shares
nobunaga - $400 PP - 8 Shares
emeraldforce - .6 BTC - 1 Share


67 / 143

[ImThat1Guy]

Jupiter #2:

mightycount $500 PP - 4 Shares
Bamdad - .55 BTC - 1 Share
Fantazygirl  - $200 PP - 4 Shares
jongaper - 1.6 BTC - 2 Share
m_yaw - .6 BTC - 1 Share
2400baud - $100 PP - 2 Shares
peterlex - $500 PP - 10 Shares
jamesc760 - .5 BTC - .4 BTC pending - 1 Share
antihero_929 - 3.6 BTC - 4 Shares
DugOutDad - 3.6 BTC - 4 Shares
dma88 - $100 PP - 2 Shares
phongnv - $150 PP - 3 Shares
wiredmine - $100 PP - 2 Shares
wolfskill - .9 BTC - 1 Share
annoSeriousW - 3.6 BTC - 4 Shares
piecinitup - .9 BTC - 1 Share
azenor - $300 PP - 6 Shares
gtdevo - 2.1 BTC - 3 Shares
nobunaga - $400 PP - 8 Shares
emeraldforce - .6 BTC - 1 Share


67 / 143

Um, remember the Google Docs spreadsheet? Shouldn't you be using that?

[aar0]

Jupiter #2:

mightycount $500 PP - 4 Shares
Bamdad - .55 BTC - 1 Share
Fantazygirl  - $200 PP - 4 Shares
jongaper - 1.6 BTC - 2 Share
m_yaw - .6 BTC - 1 Share
2400baud - $100 PP - 2 Shares
peterlex - $500 PP - 10 Shares
jamesc760 - .5 BTC - .4 BTC pending - 1 Share
antihero_929 - 3.6 BTC - 4 Shares
DugOutDad - 3.6 BTC - 4 Shares
dma88 - $100 PP - 2 Shares
phongnv - $150 PP - 3 Shares
wiredmine - $100 PP - 2 Shares
wolfskill - .9 BTC - 1 Share
annoSeriousW - 3.6 BTC - 4 Shares
piecinitup - .9 BTC - 1 Share
azenor - $300 PP - 6 Shares
gtdevo - 2.1 BTC - 3 Shares
nobunaga - $400 PP - 8 Shares
emeraldforce - .6 BTC - 1 Share


67 / 143

You dropped my name from the list. I got 5 shares.

[lajz99]

I also sent $ via paypal for an additional share and should be added to the list.

[DugOutDad]

emeraldforce - .6 BTC - 1 Share

So we're down to 0.6/share now? Damn me for my impatience.

[piecinitup]

So I hope I'm understanding this correctly, but do each share holders get a dividend from the whole lot of miners but not until the specific miner they're holding a share on gets delivered?