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Author Topic: [closed] Bitcoind Pooled Mining Association  (Read 16416 times)
mizerydearia
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January 29, 2011, 08:06:00 PM
 #81

Sure, you are playing it cautious. But I see a risk of analysis paralysis setting in: trying to tie up all the loose ends while the difficulty rises and the window of opportunity starts to close...

Anyway I think a collaborative venture is a great thing to do. But it's going to have to be nimble to be successful.

Actually, while you may consider that the 'window' is starting to close, that is only based on the current value of Bitcoin in relation to the expenses to establish hardware dedicated to mining Bitcoin.

If you consider that regardless of the expenses for mining Bitcoins, that there will still be Bitcoin miners since there are ~140 years remaining to establish all the Bitcoins.

I think a better comparison is for individuals to depict the costs of mining using their own hardware and electricity compared to costs for investing in Bitcoind Pooled Mining Association.  In this case, for users that want to contribute towards mining Bitcoins, they would still have an opportunity to do using either of the two methods suggested above depending on which is lesser expensive for them.

I believe it is still useful to establish a mining association that offers best performance at best value regardless of how difficult it is to generate a block or the cost to operate*.

* Unless the cost to operate is comparably more expensive than users establishing their own individual hardware setups to mine.
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January 29, 2011, 10:32:45 PM
 #82

That is the reason we are getting full financial reports and risk assessments done before we even begin to solicit members.
Sure, you are playing it cautious. But I see a risk of analysis paralysis setting in: trying to tie up all the loose ends while the difficulty rises and the window of opportunity starts to close...

Anyway I think a collaborative venture is a great thing to do. But it's going to have to be nimble to be successful.

I agree. Im sure you are also aware of the risks when dealing with "shares" and Im not just talking about bitcoin itself. We are dealing with some powerful entrenched interest groups .
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February 02, 2011, 01:38:02 AM
 #83

This thread is relevant to my interests and I'm posting so I get the new reply updates. You may have yourself a smalltime investor, with more if I'm satisfied by risk assessments etc.
Anonymous
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February 02, 2011, 03:32:53 AM
 #84

This thread is relevant to my interests and I'm posting so I get the new reply updates. You may have yourself a smalltime investor, with more if I'm satisfied by risk assessments etc.

Thanks gigitrix.

Anonymous
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February 03, 2011, 12:23:52 PM
 #85

Just an update.

We are tallying up interest in bitcoind on irc.

So far 29.7k has been pledged.


You can email me at bitcoind@gmail.com or post here or irc if you'd like to add to the total tally.


Anonymous
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February 04, 2011, 05:17:55 AM
 #86

http://bitcoind.org/mediawiki/index.php/Status

This page will give updates on the current status. The expression of interest phase is now open.
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February 04, 2011, 02:51:40 PM
 #87

Not sure you got my email, or details while on irc. In for 500, 1000 if needed (but doubt the need).

I agree with not getting stuck in analysis paralysis - strike while the iron is hot. Will chat on irc soon. thanks. 

http://BTCSportsBet.com - The most complete bitcoin Sportsbook - All games from pro and college sports, Champions League, E-Sports, and reduced juice as well!
Anonymous
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February 06, 2011, 02:03:51 PM
 #88

Expression of interest is closed. Thanks to everyone who participated.






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February 08, 2011, 02:01:24 PM
 #89

I'm not participating in BPMA, but I very much want this association to succeed.

In any association larger than say half-a-dozen people, there's a risk of much time and energy being wasted deciding on how to make decisions, allocate work, and keep track of things. You may wish to use the service provided by BetterMeans. Although they charge a fee to corporations, it's completely free for organizations that have publicly-visible workflows.

It seems well-suited to an association with an anarchistic leaning. Here's their introductory video:
http://www.youtube.com/watch?v=MAlnMWlvw9g
Anonymous
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February 09, 2011, 12:35:53 AM
 #90

We have enough funding interest from within the operations team, so no further funding is needed. Thank you all for your interest.

If the need for further expansion develops we will be in touch.

The "operations team" means those directly responsible for  the project who contribute in some way. 

We could have created 2 bitcoind projects going by all the wonderful support we received!
Anonymous
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February 15, 2011, 11:11:31 AM
 #91

http://bitcointalk.org/index.php?topic=3370.msg47302#msg47302


I recommend if you missed out on the first round to invest in Nefario's new project.
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February 19, 2011, 10:01:38 PM
 #92

hows this going so far?
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February 19, 2011, 11:14:09 PM
 #93

I’d love to invest in this. Please keep me updated. Smiley

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