BMMO - BlockMiners Mining Operations

[teek]

BMMO  News

With ASIC on the horizon, we realize that the future of mining will be a very different world.  With the block reward dropping and GPU and FPGA heading toward obsolescence we must all adapt.

BlockMiners BMMO was the first mining operation to offer a 1 MH/s share / bond, and one of the first successful mining operations on the GLBSE period.  It is also one of, if not the longest standing asset on the GLBSE with a historic record of timely payments you could set your watch too.

Today at BMMO we bring you another first.  To reward our loyal shareholders and to stay relevant, BMMO will be paying an additional "Difficulty Based Bonus"  of .00000001% of Difficulty represented in MH. Current holders of BMMO need not do anything, you will automatically start receiving the bonus next Sunday.

We are rapidly expanding our GPU operations, exploiting our cool climate and extremely low energy costs for one last hurrah to our GPU days, preparing us for what comes next.  Once the new technology is proven and the market has stabilized we will make a move into such technologies.

We will also lower our fees due to falling operating costs relative to BTCUSD.  Starting next week our fees will decrease from .0015 to .0012 per share for the foreseeable future.

Further announcements will be forthcoming before we release any new bonds for sale on GLBSE.

I will accept private offers via PM from anyone interested in 1000 units or more that wishes to join us in this expansion.

teek




Original Post:


Hi All - Would like to introduce a new asset on the GLBSE.  

The asset is GLBSE: BMMO.  Blockminers.com

Get them now at bargain basement prices!!!

Our team is currently involved in a million other projects (a few related to bitcoin), so development of blockminers may be slow.  However, I assure you the mining operations are very real, and we do have capacity to expand and can bring new equipment on very quickly if the demand is there.  All shares issued are backed by a REAL mega hash.  Please see our asset contract for further details.

First dividends will go out Oct 1st to Oct 5th.

Please hit me back in this thread if you have any questions.  


teek
blockminers.com

[1715272131]

1715272131

[teflone]

Ok done.. now what ?

[teek]

Agreed - to an extent.  Our mining operations are fully functional, the shares are based on mining production.  Not how fancy our website is, or how our other projects are developing.  We may issue shares of the actual company at some point, but not for now.  In other words, I want to be honest and up front that this is one of many projects, and these shares are backed by cold hard mega hashes, rather than marketing hype.

Thanks for your inquiry, I do believe it may be a question others would ask!

teek
blockminers.com

[teek]

Ok done.. now what ?

Watch the profits roll in? 

[teflone]

Ok! Dont let us down!

[marks1976]

Blockminers.com webpage not working.  Are we investing in mining if so how is blockminers.com involved?

[teek]

Blockminers.com webpage not working.  Are we investing in mining if so how is blockminers.com involved?

Thanks for pointing that out.  Looks like it was a problem with the www subdomain.  I just put the page up a couple hours ago.  Should be good now.


teek
blockminers.com

[teek]

How often do you plan to pay out dividends?

Hi Peter - We are paying monthly dividends.


teek

[teek]

Just under two weeks until first dividend payout!!

[teek]

First dividend coming next weekend!  Our miners are busy hashing away, if you hold the share at time of dividend payout, you get the benefit of a full month of mining, even if you only hold for a day!

This may change if GLBSE implements a "shareholder of record" feature by the way, but for now, they don't have that option so early adopters benefit!!


We are slowly working on a new website.. stay tuned.

teek
blockminers.com

[Bitcoin Swami]

Did you issue all your shares at a certain price and have them sell out? or did you stack the share price going up? trying to figure out whats going on.

[teek]

Did you issue all your shares at a certain price and have them sell out? or did you stack the share price going up? trying to figure out whats going on.

Hii Bitcoin Swami.  We issued shares representing 1 MH.  They are being sold on the free market.  These are not company ownership shares, they are a share of our mining capacity only. As we increase production or choose to sell a greater percentage of our mining capacity, we may issue more shares, thus representing more hashes.  We pay dividends monthly, which is the gross profit from mining minus our fee.  Fees are subject to change as costs change.  Right now we are selling some of our first few shares as a discount to drive some growth, but we will let the market set it's price from there.

teek

[Bitcoin Swami]

Did you issue all your shares at a certain price and have them sell out? or did you stack the share price going up? trying to figure out whats going on.

Hii Bitcoin Swami.  We issued shares representing 1 MH.  They are being sold on the free market.  These are not company ownership shares, they are a share of our mining capacity only. As we increase production or choose to sell a greater percentage of our mining capacity, we may issue more shares, thus representing more hashes.  We pay dividends monthly, which is the gross profit from mining minus our fee.  Fees are subject to change as costs change.  Right now we are selling some of our first few shares as a discount to drive some growth, but we will let the market set it's price from there.

teek

Ok cool.  Would you care to show any pics of your mining operation? I'd like to invest.

[322i0n]

how would this be profitable for investors. please correct me if i am wrong, my math is not the best. at current difficulty 1mhash would give 0.02btc per month. current market ask price is 1.2 btc so it would take 6 months to return the initial investment.

edit typo: current market ask price is 0.12btc

[teek]

Ok cool.  Would you care to show any pics of your mining operation? I'd like to invest.

We will throw some pics on the website at some point.  Things are kind of segmented right now because we are in the process of moving our server room.  We share a server room with a couple other businesses in a building, but due to an anchor tenant requiring the space where the server room currently is, we are moving it.  So I have some miners at home temporarily as do other team members. The electrical / data for the new room should be done in about a week or so. When I go by the office tomorrow I could snap a picture of the pile of radeon boxes and a few miners if you want?  

teek

[teek]

how would this be profitable for investors. please correct me if i am wrong, my math is not the best. at current difficulty 1mhash would give 0.02btc per month. current market ask price is 1.2 btc so it would take 6 months to return the initial investment.

assuming that 1mhash has no market value it would take 6+ months yes..

[Nagle]

how would this be profitable for investors. please correct me if i am wrong, my math is not the best. at current difficulty 1mhash would give 0.02btc per month. current market ask price is 1.2 btc so it would take 6 months to return the initial investment.

Check your math:

  1.2 btc / 0.02btc per month = 60 months = 5 years.

[teek]

how would this be profitable for investors. please correct me if i am wrong, my math is not the best. at current difficulty 1mhash would give 0.02btc per month. current market ask price is 1.2 btc so it would take 6 months to return the initial investment.

Check your math:

  1.2 btc / 0.02btc per month = 60 months = 5 years.

@nagle  market ask is .12 btc not 1.2 btc,  322i0n quoted the current ask wrong. 

[teek]

hmmm glbse seems to be down at the moment.  getting several errors back.

[322i0n]

yep thanks. typo fixed.