Smoky Mountain mining now offering daily dividends to GLBSE investors.

[Bitcoin Swami]

I've  been thinking about this and i want to give it a try.  With the crazy price changes, I'd rather investors have the bitcoins ASAP so they can decide what to do with them.  I see no reason to hold on to all of them really.  It will work like this.  I will hold 44% of the bitcoins created everyday and will pay all shareholders daily 56% of what I mine.  After the middle of the month (when my electricity bill comes in) I will use the 44% to pay for electricity, anything left over will also be payed to the shareholders as a mid month bonus.  Simple, easy.  The only problem I could have is that bitcoins would take a death dive (isn't that all of our problems?)  If that happens the experiment is over and I'll go back on a monthly payout.

My first dividend payout will be Monday morning around midnight Eastern Daylight time.  It will be bigger than the daily because it will encompass the past 5 days of mining.

Hope you like this idea.  My ticker is SMM.

I'm open to questions and concerns.

[logansryche]

This sounds interesting...

[shakaru]

Why not, expect my purchase. Now is this listed in the contract? The new dividend deal?

[Bitcoin Swami]

Why not, expect my purchase. Now is this listed in the contract? The new dividend deal?

No its not, I can't edit the contract directly.  I already had nefario edit it once and I hate to keep bothering him really.  I figure if it says monthly and I pay everyone daily there shouldn't be a problem right? everyone happy?

If some craziness happens and I'm forced to go monthly again, then the contract wont need to be edited.  

Does this seem ok? Most companies on the GLBSE dont even put their dividend schedule in there, I don't know why I did.

[Bitcoin Swami]

Dividend payed,

please make sure you got it.  For now on they will go out daily.

Just want to clarify that I own 10200 shares but I'm only getting dividends on 5000 shares to cover my initial investment.  I don't feel right taking 51% of the dividends.

So for about 1881 shares have been sold.  I've purchased more mining equip and just waiting for more funds so i can buy a power supply and maybe a card or 2. Also bought 31 shares of LIF.A.

I've kept a pretty good log of income and expenses here.

https://docs.google.com/spreadsheet/ccc?key=0AvdHbho4OHt9dFVTVHFUNFVvNFZyc2E5eERPeFd2Y1E&hl=en_US#gid=0

[lathomas64]

Put me down for one share!

[Ben Walsh (beamer)]

Could someone post the dividend/share for each of the days on which a dividend has been paid please ?

I am trying to do a competitive analysis of SMM vs SIN and unfortunately the Google Spreadsheet for SMM only gives the total dividend payout rather than the more useful dividend/share figure. I can infer the total number of shares which are receiving a dividend from that total payout but I would like the actual figures themselves for the analysis.

Thanks in advance.

[Bitcoin Swami]

Could someone post the dividend/share for each of the days on which a dividend has been paid please ?

I am trying to do a competitive analysis of SMM vs SIN and unfortunately the Google Spreadsheet for SMM only gives the total dividend payout rather than the more useful dividend/share figure. I can infer the total number of shares which are receiving a dividend from that total payout but I would like the actual figures themselves for the analysis.

Thanks in advance.

Hey Beamer,

I had it on the spreadsheet but then took it off cause I think it can be a bit misleading especially when the IPO shares are being sold.  One day it might say one eps.. but if 1000 more shares are sold the next day it will be divided up further.  Once all the shares are sold it wont be a problem.  (hopefully not too long at this rate)

The formula is:  the dividend / (number of shares sold + 5000 (my shares))

Edit: i'll just put it back up there) Should be up there tonight.

[Ben Walsh (beamer)]

EDIT : Excellent. Thanks for that. Further evidence regarding comms and professionalism ;O)

Okey dokey.

I don't see any problem with that, as long as you make a real clear post to this thread, when you change from paying 5000 of your shares a dividend.

At the moment, that is where the vast majority of your financial competitive advantage over SIN is coming from.

You are light years ahead of SIN in terms of communication and professionalism.

I far prefer your daily dividend approach.

I have purchased 60 shares in SMM with funds from the sale of most of my SIN shares - it will be interesting to see how many others reach the same conclusions and investment decisions.

Thanks for bringing a higher quality of investment opportunity to GLBSE.

Could someone post the dividend/share for each of the days on which a dividend has been paid please ?

I am trying to do a competitive analysis of SMM vs SIN and unfortunately the Google Spreadsheet for SMM only gives the total dividend payout rather than the more useful dividend/share figure. I can infer the total number of shares which are receiving a dividend from that total payout but I would like the actual figures themselves for the analysis.

Thanks in advance.

Hey Beamer,

I had it on the spreadsheet but then took it off cause I think it can be a bit misleading especially when the IPO shares are being sold.  One day it might say one eps.. but if 1000 more shares are sold the next day it will be divided up further.  Once all the shares are sold it wont be a problem.  (hopefully not too long at this rate)

The formula is:  the dividend / (number of shares sold + 5000 (my shares))

Edit: i'll just put it back up there) Should be up there tonight.

[indio007]

Question, what are the maximum GH you are planning to go up to? Are you capping at 2.5 GH or do you plan to expand operation?

[Bitcoin Swami]

Question, what are the maximum GH you are planning to go up to? Are you capping at 2.5 GH or do you plan to expand operation?

I should be adding another 1 - 1.2 ghs within the next week just waiting for some stuff to arrive.  If it all works out smoothly I can add maybe one more rig. I don't want to expand beyond what I can handle.  It seems like alot of these companies got tons of money and invested it in mining gear and got in over their heads. Mining can be stressful especially when you have people waiting for a dividend.  I'd like to balance it out with smart investments on the GLBSE.   Just want to make something stable for people to be able to invest in without too much risk.

[logansryche]

Question, what are the maximum GH you are planning to go up to? Are you capping at 2.5 GH or do you plan to expand operation?

I should be adding another 1 - 1.2 ghs within the next week just waiting for some stuff to arrive.  If it all works out smoothly I can add maybe one more rig. I don't want to expand beyond what I can handle.  It seems like alot of these companies got tons of money and invested it in mining gear and got in over their heads. Mining can be stressful especially when you have people waiting for a dividend.  I'd like to balance it out with smart investments on the GLBSE.   Just want to make something stable for people to be able to invest in without too much risk.

Or when you're like me and left to cpu mining only lol. Good to see your business thriving and moving forward.

[Bitcoin Swami]

Only 447 shares left of the IPO.  I had not idea they would sell out this fast.  There will be 9300 shares floating around after the IPO is done.  I put 500 shares aside for a later date in case we need to raise more funds.  Thanks for everyone whos invested. Now please get that bitcoin price to rise.

[Bitcoin Swami]

Only 447 shares left of the IPO.  I had not idea they would sell out this fast.  There will be 9300 shares floating around after the IPO is done.  I put 500 shares aside for a later date in case we need to raise more funds.  Thanks for everyone whos invested. Now please get that bitcoin price to rise.

All gone now Let the wild ride begin! (On a side note, I speculated (with some money, not talking, cause that gives my advantage away ) that the price would rise once the IPO runs out. Looks like I am right.)

Now, if only the price of bitcoins would go back up ...

Yes this bitcoin price is screwing with my plans.  I have ideas for 2 websites. I think they will bring in alot more bitcoins than the mining operation does.  Don't want to just rely on mining in cases like this.  Hopefully since there are 9300 shares out there, the stock will be funner to trade than the others.

[322i0n]

@Bitcoinswami did you decide what pool you would use for SMM?

[Bitcoin Swami]

Hey there.  Right now I am on Deepbit, I know they take a fee, but I've just grown used to it.  I plan on changing to a place with less fees soon.

[322i0n]

I commented on your blog post relating to pool choice.

I did a small test on the top 10 pools and found that arsbitcoin gave the biggest payout with the least fees for the ammount of shares accpeted.

I bought some stock of SMM and am very pleased with the work you have been done. thanks. I think this stock has the most potential and is most trustworthy of the choice of stock on GLBSE.

[teflone]

Hey there, like what your doing, already saw a few dividends pop into my account, bought a bunch of shares a couple days ago..


Keep it up! Im really liking the GLBSE!

[Bitcoin Swami]

Hey guys after thinking long and hard I've decided to end the mining operation.  Please read my blog post.

http://smokymountainmining.com/?p=49

[teek]

Hey guys after thinking long and hard I've decided to end the mining operation.  Please read my blog post.

http://smokymountainmining.com/?p=49

That sucks man.  What kind of equipment you have for sale?  We might be interested here at BMMO if the price is right..   I have some shares of SMM too..