-

[grnbrg]

About an hour ago, a purchase through BitFunder put the number of bonds sold from the IPO over 25,000.

25% of the initial issue has been sold in a little over 2 weeks.



grnbrg.

[Lab_Rat]

I am rather dissatisfied with the random downtime on Eligius over the past 48 hours.  Due to this fact I have switched over to EMC.  I would rather have a more stable miner with less visibility.  You will see the stats hit https://eclipsemc.com/top_miners_pie.php over the next week or 2.  The company hashrate should hit ~95GH on Wednesday or Thursday depending on how reliable USPS is.  This is currently enough to be placed on the top miners list.

I will likely be implementing API connectivity with my website in the near future, but for the time being this will have to suffice.

[maqifrnswa]

I am rather dissatisfied with the random downtime on Eligius over the past 48 hours.  Due to this fact I have switched over to EMC.  I would rather have a more stable miner with less visibility.  You will see the stats hit https://eclipsemc.com/top_miners_pie.php over the next week or 2.  The company hashrate should hit ~95GH on Wednesday or Thursday depending on how reliable USPS is.  This is currently enough to be placed on the top miners list.

I will likely be implementing API connectivity with my website in the near future, but for the time being this will have to suffice.

Are you planning on using a commercial pool long term or are you thinking of setting up a private pool (or p2pool -- I think OgNasty, ADDICTION, pyraminning asics-only are using p2pool so they control their own nodes, are DoS protected, and only pay a ~1% donation to the developer)

[Lab_Rat]

I am rather dissatisfied with the random downtime on Eligius over the past 48 hours.  Due to this fact I have switched over to EMC.  I would rather have a more stable miner with less visibility.  You will see the stats hit https://eclipsemc.com/top_miners_pie.php over the next week or 2.  The company hashrate should hit ~95GH on Wednesday or Thursday depending on how reliable USPS is.  This is currently enough to be placed on the top miners list.

I will likely be implementing API connectivity with my website in the near future, but for the time being this will have to suffice.

Are you planning on using a commercial pool long term or are you thinking of setting up a private pool (or p2pool -- I think OgNasty, ADDICTION, pyraminning asics-only are using p2pool so they control their own nodes, are DoS protected, and only pay a ~1% donation to the developer)

I have access to a private pool that I'd like to mine in, but transparency is rather important, so I may use EMC with this private pool as a backup.  It's no fee and by invitation only, therefore DDoS protected.  It's also extremely stable.  In the months I've mined there I have experienced 0 downtime.

[mufa23]

It's no fee and by invitation only, therefore DDoS protected.  It's also extremely stable.  In the months I've mined there I have experienced 0 downtime.

giga, I am assuming. Would mine there myself if my hash speed was high enough.

[||bit]

I am rather dissatisfied with the random downtime on Eligius over the past 48 hours.  Due to this fact I have switched over to EMC.  I would rather have a more stable miner with less visibility.  You will see the stats hit https://eclipsemc.com/top_miners_pie.php over the next week or 2.  The company hashrate should hit ~95GH on Wednesday or Thursday depending on how reliable USPS is.  This is currently enough to be placed on the top miners list.

I will likely be implementing API connectivity with my website in the near future, but for the time being this will have to suffice.

Are you planning on using a commercial pool long term or are you thinking of setting up a private pool (or p2pool -- I think OgNasty, ADDICTION, pyraminning asics-only are using p2pool so they control their own nodes, are DoS protected, and only pay a ~1% donation to the developer)

I have access to a private pool that I'd like to mine in, but transparency is rather important, so I may use EMC with this private pool as a backup.  It's no fee and by invitation only, therefore DDoS protected.  It's also extremely stable.  In the months I've mined there I have experienced 0 downtime.

I don't see the stats on EMC. Does it require an account to view? Did you consider using Bitminter yet? It's super easy to get going, and stats appear to be available for non users to see. LRM's hashing is fast enough to be in the top 50. See here: http://bitminter.com/livestats/big

[mmmerlin]

I am rather dissatisfied with the random downtime on Eligius over the past 48 hours.  Due to this fact I have switched over to EMC.  I would rather have a more stable miner with less visibility.  You will see the stats hit https://eclipsemc.com/top_miners_pie.php over the next week or 2.  The company hashrate should hit ~95GH on Wednesday or Thursday depending on how reliable USPS is.  This is currently enough to be placed on the top miners list.

I will likely be implementing API connectivity with my website in the near future, but for the time being this will have to suffice.

Are you planning on using a commercial pool long term or are you thinking of setting up a private pool (or p2pool -- I think OgNasty, ADDICTION, pyraminning asics-only are using p2pool so they control their own nodes, are DoS protected, and only pay a ~1% donation to the developer)

I have access to a private pool that I'd like to mine in, but transparency is rather important, so I may use EMC with this private pool as a backup.  It's no fee and by invitation only, therefore DDoS protected.  It's also extremely stable.  In the months I've mined there I have experienced 0 downtime.

I don't see the stats on EMC. Does it require an account to view? Did you consider using Bitminter yet? It's super easy to get going, and stats appear to be available for non users to see. LRM's hashing is fast enough to be in the top 50. See here: http://bitminter.com/livestats/big

Stats aren't public on EMC, but I think what Lab_Rat is saying is that he/we should be on the high-scores list soon, which is public

[grnbrg]

I don't see the stats on EMC. Does it require an account to view? Did you consider using Bitminter yet? It's super easy to get going, and stats appear to be available for non users to see. LRM's hashing is fast enough to be in the top 50. See here: http://bitminter.com/livestats/big

Stats aren't public on EMC, but I think what Lab_Rat is saying is that he/we should be on the high-scores list soon, which is public

Correct:

(.....) the Eclipse Mining Consortium stats will show up here once enough hashrate is secured.

(Emphasis mine.)

Although Eclipse's pages are "sort of" public.  EMC requires you to have an account to look at anything but the front page, including the "Top Miners" page.  Easy enough to get one, though.  The miner at the bottom of that list is currently hashing at 88 GH/s.  @Lab_Rat reports that LRM will be hashing above that level on Wednesday or Thursday (Aug 7th or 8th) and will therefore appear on the list.


grnbrg.

[||bit]

We need more power captain!

[Lab_Rat]

Eclipse is registering 74/95GH I'm pointing toward it, so until I get that worked out I'm mining privately. It's in as a backup, but I don't appreciate a paycut... Not sure if EMC does that to everyone and therefore it works out in the long run or if it's an issue with how it's reading LRM's shares. Didn't have time to look at it today as there are other more important things to do. Either way... 95GH and climbing rapidly!!!

[||bit]

Eclipse is registering 74/95GH I'm pointing toward it, so until I get that worked out I'm mining privately. It's in as a backup, but I don't appreciate a paycut... Not sure if EMC does that to everyone and therefore it works out in the long run or if it's an issue with how it's reading LRM's shares. Didn't have time to look at it today as there are other more important things to do. Either way... 95GH and climbing rapidly!!!

More power!!!!

[Lab_Rat]

Eclipse is registering 74/95GH I'm pointing toward it, so until I get that worked out I'm mining privately. It's in as a backup, but I don't appreciate a paycut... Not sure if EMC does that to everyone and therefore it works out in the long run or if it's an issue with how it's reading LRM's shares. Didn't have time to look at it today as there are other more important things to do. Either way... 95GH and climbing rapidly!!!

More power!!!!

Agreed, and I'm working on it 

[Ashitank]

So what is the hashing rate per share right now with Lab_Rat mining @ 95 Gh/s.

[kslavik]

So what is the hashing rate per share right now with Lab_Rat mining @ 95 Gh/s.

It seems to be ~3.5Mhs/share

95GH/s/26k shares = 3.65Mhs/s

[redphlegm]

So what is the hashing rate per share right now with Lab_Rat mining @ 95 Gh/s.

It seems to be ~3.5Mhs/share

95GH/s/26k shares = 3.65Mhs/s

Well the details of the bond indicate that it's a minimum of 100Mh per share and dividends will be paid out after the end of the 2nd full week of mining (so I take that to mean after 3 full weeks of mining with the 3rd week being the revenue-generating hashrate).

[pixl8tr]

Well the details of the bond indicate that it's a minimum of 100Mh per share and dividends will be paid out after the end of the 2nd full week of mining (so I take that to mean after 3 full weeks of mining with the 3rd week being the revenue-generating hashrate).

I don't read that at all. It possibly will be less than the 100Mh minimum per share until fully operational.   Look at the 2nd Sentence.   " If the entire 100,000 bond IPO is not sold immediately,bonds will represent an equivalent portion of the processing power included in the operation at that time."

Dividends/Bond Value – Each bond will receive a minimum of 100MH/s* worth of mining profit in dividends/returns (all dividends are intended as contractual returns based on investments and may simply be referred to as dividends for future purposes) on a weekly basis.  The first payout will be at the end of the second full week mining.  If the entire 100,000 bond IPO is not sold immediately, bonds will represent an equivalent portion of the processing power included in the operation at that time.  If it occurs that multiple installments of hardware are required to fulfill the IPO’s expected hardware, the earnings of each installment will begin to be paid out in dividends on the second full week of each installment.  Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)

[grnbrg]

So what is the hashing rate per share right now with Lab_Rat mining @ 95 Gh/s.

There are currently just shy of 26,000 bonds sold, to which dividends will be payed.

LRM takes 25% for costs and reinvestment (See the bond calculator for details) so the hashrate per bond is currently ((95,000 Mh/s * 0.75) / 26,000) or 2.74 MH/s per bond.  There are still hardware orders that are outstanding right now.

From the official announcement:

Dividends/Bond Value – Each bond will receive a minimum of 100MH/s* worth of mining profit in dividends/returns (all dividends are intended as contractual returns based on investments and may simply be referred to as dividends for future purposes) on a weekly basis.  The first payout will be at the end of the second full week mining.  If the entire 100,000 bond IPO is not sold immediately, bonds will represent an equivalent portion of the processing power included in the operation at that time.  If it occurs that multiple installments of hardware are required to fulfill the IPO’s expected hardware, the earnings of each installment will begin to be paid out in dividends on the second full week of each installment.  Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)

More hardware is coming.  Current estimates are for around 350 MH/s per bond.


grnbrg.

[grnbrg]

I don't read that at all. It possibly will be less than the 100Mh minimum per share until fully operational.   Look at the 2nd Sentence.   " If the entire 100,000 bond IPO is not sold immediately,bonds will represent an equivalent portion of the processing power included in the operation at that time."

Dividends/Bond Value – Each bond will receive a minimum of 100MH/s* worth of mining profit in dividends/returns (all dividends are intended as contractual returns based on investments and may simply be referred to as dividends for future purposes) on a weekly basis.  The first payout will be at the end of the second full week mining.  If the entire 100,000 bond IPO is not sold immediately, bonds will represent an equivalent portion of the processing power included in the operation at that time.  If it occurs that multiple installments of hardware are required to fulfill the IPO’s expected hardware, the earnings of each installment will begin to be paid out in dividends on the second full week of each installment.  Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)

It should be noted that the number of bonds sold does not make a huge difference in the per-bond hash rate.  If the entire 100k issue sells out, there will be 4x as much hardware available as now, but also 4x the number of bonds to distribute them to.

The issue here is that there is a lag between when all the hardware is ordered, and when it arrives.  And all the hardware is not going to arrive at once.



grnbrg.

[mmmerlin]

Well the details of the bond indicate that it's a minimum of 100Mh per share and dividends will be paid out after the end of the 2nd full week of mining (so I take that to mean after 3 full weeks of mining with the 3rd week being the revenue-generating hashrate).

I don't read that at all. It possibly will be less than the 100Mh minimum per share until fully operational.   Look at the 2nd Sentence.   " If the entire 100,000 bond IPO is not sold immediately,bonds will represent an equivalent portion of the processing power included in the operation at that time."

Dividends/Bond Value – Each bond will receive a minimum of 100MH/s* worth of mining profit in dividends/returns (all dividends are intended as contractual returns based on investments and may simply be referred to as dividends for future purposes) on a weekly basis.  The first payout will be at the end of the second full week mining.  If the entire 100,000 bond IPO is not sold immediately, bonds will represent an equivalent portion of the processing power included in the operation at that time.  If it occurs that multiple installments of hardware are required to fulfill the IPO’s expected hardware, the earnings of each installment will begin to be paid out in dividends on the second full week of each installment.  Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)

You are right that it won't be 100MH/s per bond until fully operational, but your reasoning is wrong. As grnbrg says, the number of bonds sold doesn't make a huge difference (other than a few economies of scale, hence the small increase if large numbers are sold), as unsold bonds do not earn dividends.

However, the full hashrate per bond will not be paid until all the hardware that was bought with the money raised by those bond sales is online, which will be many weeks from now. Things are starting to ramp up, and there may well be a decent amount of power coming online soon, but the full amount per bond (forecast to be ~350MH/s) won't be paying dividends until many (read >6) weeks from now.

[pixl8tr]

However, the full hashrate per bond will not be paid until all the hardware that was bought with the money raised by those bond sales is online, which will be many weeks from now. Things are starting to ramp up, and there may well be a decent amount of power coming online soon, but the full amount per bond (forecast to be ~350MH/s) won't be paying dividends until many (read >6) weeks from now.

Yes, we are saying the same thing.  That is the only point I was trying to make.  That the minimum hashrate dividends per bond  will not be met until the hardware is installed and hashing for two weeks. What that value is, is based on what bonds have been sold to that point, and what hardware is operational.