BMMO - BlockMiners Mining Operations

[teek]

Ben I will put something together asap, is there anything specific you think I should include that would help?

teek

I would be happy to evaluate such information and decide whether I vouch for you or not.

Encrypt the information with a password of your choosing. Send the encrypted information to my email address - benny.walsh@gmail.com
and PM me on this forum with the password you chose.

I will need to see evidence that you are any more trustworthy, competent, experienced and/or professional than Tawsix.

Why should I invest in you ?

I will need to know significantly more about you and what you offer.

You still aren't listed here - http://companies.herokuapp.com - even though that was pointed out to you more than 2 weeks ago.
At an absolute minimum I require every section completed in a company listing.

You still haven't posted your bylaws at the address in the contract - even though that was pointed out to you more than 2 weeks ago.

These are not the behaviours of a professional who is seeking investment.

Hi Ben, duly noted.  I will see what I can do about clearing those items up in the coming weeks. Honestly I gotta say, the information listed for the bulk of the companies on that directory, is very incomplete, and is basically no more than I have provided on this forum thread (yes there are some exceptions, LIF maybe a couple more).  We find ourselves in an awkward position due to the nature of the GLBSE, we are kind of forced into this limbo quasi-anonymous land because of ridiculous laws.  While our business is 100% on the up and up, I find that revealing too much about it / us bares a level of risk that has to be dealt with delicately. 

What I can tell you right now is this, we have dozens of GPU's currently mining in a few locations.  We are currently renovating our offices, and actually just yesterday got the power and conduit in our new server room installed, panel and plugs wired up, etc.  I'd be happy to provide pictures of it, and will be putting pictures on the new website when things are buttoned up. Construction has taken a little longer than anticipated, so we are kind of in a holding pattern.  Not to mention, blockminers is the smallest of our ventures, so yes, it does take a backseat from time to time.  The facilities, server room, etc, are for our primary business and that business does have to come first.  However, that doesn't change the fact, miners are mining, shareholders get 1 mhash, and we are currently only taking a fee that does not yet even equal the cost of power.  In the past, we have seen mining companies come on GLBSE, and ask for a IPO basically starting from GPU0.  We've had dozens of GPU's going since June, there is value here.

The hodgepodge of miners is currently at our homes, and around the office, running various miners (linuxcoin, guiminer, etc).  Right now it is fairly inefficient, due to how it is laid out  however the plan is once we can actually move into the new server room, we will consolidate everything, run BAMT, etc.  We have network admins and developers on staff and a webdev / layout / UI guy just joined our team on a trial basis this week. His 3rd task on the list is blockminers new site... we hope to be providing some nice stats etc on the new site.  On the new site we can put out financial statements etc, if we decide that we will be offering shares of the company. Right now, we do not, because the shares do not represent ownership of the company, the company remains private.

You seem to be quite involved in the GLBSE community, i'd be happy to provide evidence to you if you would verify in the public forum that you believe we do, what we say we do as long as our actual communication remains confidential.   If you have any other feedback i'd love to hear it!

teek

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[Nagle]

I couldn't resist. I sent a link to this page to Data Center Knowledge.

[Ben Walsh (beamer)]

I'll let you decide what you think is best for the situation.

Ben I will put something together asap, is there anything specific you think I should include that would help?

teek

I would be happy to evaluate such information and decide whether I vouch for you or not.

Encrypt the information with a password of your choosing. Send the encrypted information to my email address - benny.walsh@gmail.com
and PM me on this forum with the password you chose.

I will need to see evidence that you are any more trustworthy, competent, experienced and/or professional than Tawsix.

Why should I invest in you ?

I will need to know significantly more about you and what you offer.

You still aren't listed here - http://companies.herokuapp.com - even though that was pointed out to you more than 2 weeks ago.
At an absolute minimum I require every section completed in a company listing.

You still haven't posted your bylaws at the address in the contract - even though that was pointed out to you more than 2 weeks ago.

These are not the behaviours of a professional who is seeking investment.

Hi Ben, duly noted.  I will see what I can do about clearing those items up in the coming weeks. Honestly I gotta say, the information listed for the bulk of the companies on that directory, is very incomplete, and is basically no more than I have provided on this forum thread (yes there are some exceptions, LIF maybe a couple more).  We find ourselves in an awkward position due to the nature of the GLBSE, we are kind of forced into this limbo quasi-anonymous land because of ridiculous laws.  While our business is 100% on the up and up, I find that revealing too much about it / us bares a level of risk that has to be dealt with delicately. 

What I can tell you right now is this, we have dozens of GPU's currently mining in a few locations.  We are currently renovating our offices, and actually just yesterday got the power and conduit in our new server room installed, panel and plugs wired up, etc.  I'd be happy to provide pictures of it, and will be putting pictures on the new website when things are buttoned up. Construction has taken a little longer than anticipated, so we are kind of in a holding pattern.  Not to mention, blockminers is the smallest of our ventures, so yes, it does take a backseat from time to time.  The facilities, server room, etc, are for our primary business and that business does have to come first.  However, that doesn't change the fact, miners are mining, shareholders get 1 mhash, and we are currently only taking a fee that does not yet even equal the cost of power.  In the past, we have seen mining companies come on GLBSE, and ask for a IPO basically starting from GPU0.  We've had dozens of GPU's going since June, there is value here.

The hodgepodge of miners is currently at our homes, and around the office, running various miners (linuxcoin, guiminer, etc).  Right now it is fairly inefficient, due to how it is laid out  however the plan is once we can actually move into the new server room, we will consolidate everything, run BAMT, etc.  We have network admins and developers on staff and a webdev / layout / UI guy just joined our team on a trial basis this week. His 3rd task on the list is blockminers new site... we hope to be providing some nice stats etc on the new site.  On the new site we can put out financial statements etc, if we decide that we will be offering shares of the company. Right now, we do not, because the shares do not represent ownership of the company, the company remains private.

You seem to be quite involved in the GLBSE community, i'd be happy to provide evidence to you if you would verify in the public forum that you believe we do, what we say we do as long as our actual communication remains confidential.   If you have any other feedback i'd love to hear it!

teek

[teek]

Oct dividends paid, and they are a little higher than expected.  We paid .0186 BTC per share minus our .004 fee = .0146 BTC per share to shareholders.  We will be keeping fees at .004 throughout November, and are expecting a gross dividend of around .0195 per share.  


teek
blockminers.com


EDIT: typo on dividend should read .0195 per share instead of .195

[Danijel Habek]

Oct dividends paid, and they are a little higher than expected.  We paid .0186 BTC per share minus our .004 fee = .0146 BTC per share to shareholders.  We will be keeping fees at .004 throughout November, and are expecting a gross dividend of around .195 per share. 

teek
blockminers.com

How come the expected dividend for the November rose 10 fold in just one month?
Did you just omitted some decimals or added 10x more hashing power to the company?

[teek]

Oct dividends paid, and they are a little higher than expected.  We paid .0186 BTC per share minus our .004 fee = .0146 BTC per share to shareholders.  We will be keeping fees at .004 throughout November, and are expecting a gross dividend of around .195 per share. 

teek
blockminers.com

How come the expected dividend for the November rose 10 fold in just one month?
Did you just omitted some decimals or added 10x more hashing power to the company?

Ouch typo, thanks for correcting me dividend is .0195 expected, I will edit!!

teek

[Danijel Habek]

Any updates on your operation?
Maybe my search-fu isn't that good, but a month has passed away since your last update, and the website doesn't give much news too.
Please, could you post the updates of your operation more frequently, maybe once a week would be great for starters?

[teek]

Hi all!  November dividends have been paid!  .0199 per share gross, .0159 net to shareholders!

Another update: the first version of our new site is up at www.blockminers.com

As for the lack of updates on this thread.. No news is good news right now..  Construction did stall a bit on the new office, we are still in the old one.  No major changes / upgrades to the mining equipment are going to happen until then, which should be in a week or two.  The place has doors, locks, lights, all that good stuff now, so we're good to go pretty much any time now.  It's just a matter of actually moving everything and doing some wiring etc..

We are thinking of changing to a weekly dividend instead of monthly to keep things a little more active.. it does seem like other GLBSE assets have done well with that, and a month is a long time in the bitcoin world it seems.  What do you think?

Once we are moved in, set up, and comfortable, we will be releasing more mhash's onto the open market, and doing some major expansion.  We have a page on the new site which will be used for displaying hash rates and other stats as things come along.  Any feedback on what people would like to see?

Anyway's more updates coming soon.  Have a good weekend everyone!

teek
blockminers.com

[Danijel Habek]

Thanks for your quick response teek!

In my opinion any news update, good or bad is better than none.
If there's no news to communicate to potential shareholders, even your occasional activity is enough to record operation performance, which is enough for some to decide whether to give you trust and invest in your operation.

I tend to believe if there's no activity in a month, that the operation is defunct or something bad is happening (that's just me and my imagination), which have happened one too many times on few mining operations in my brief bitcoin history. So please, don't let me calculate what is maybe happening to the operation I might be investing in. I'm too prone to make mistakes if I don't have timely input. Selling off some of the shares below the market price because I think the operation is going south just to squeeze back some of the investment is a mistake one could easily make if there's no clear input.

I can see potential behind your project, now that it's backed with more than welcomed updates to your website, and to the information it shows to the public.
I believe you can see small but positive reflection of that updates

I wish you nothing but success!
Oh yes, I've corrected that mistake and bought back those shares I've sold once I saw your reply.

[vmg3]

I for one appreciate the work you are doing!  Keep up the great work!

[Danijel Habek]

Your plan to make weekly payouts will surely liven up a bit the network transactions, do it!

[tablekart]

try biweekly

[teek]

Hi all!  To switch over to a weekly dividend, we paid a 10 day dividend payment today for the period covering December 1st to 10th inclusive. Our dividends will now be paid weekly, every Sunday.

   
So for 10 days we have a gross dividend of .0073 BTC per share minus our fees of .0018 per share = .0055 BTC per share paid to shareholders!


We expect next weeks dividend to be around .0061 gross.


More news coming soon!


teek

[teek]

Hi all!  Dividends have been paid for the week ending Dec 17th.  Dividend paid was .0061 gross per share, minus our fees of .0015, .0046 BTC per share has been paid to shareholders!

More news coming soon!

teek

[teek]

Hi all - Just a note to shareholders that GLBSE seems down at the moment therefore dividends will be delayed until it is back up.. or possibly tomorrow as I am pretty busy with family Christmas stuff today..

Merry Christmas everyone!!

teek

[teek]

Hi all!  Weekly dividends have been paid for the week ending Dec 24th.  We came in a little lower this week due to a little downtime.  Gross Dividend of .0056 BTC per share minus our .0015 BTC fee = .0041 BTC per share, paid to shareholders!

Merry Christmas everyone!  More news coming soon!

[vuce]

Will there be any dividends this week?

[teek]

Will there be any dividends this week?

Yep - before 3pm CST we'll get them out!

[vuce]

Will there be any dividends this week?

Yep - before 3pm CST we'll get them out!

superb, thanks for the remainder.

[teek]

Dividends have been paid!  .0059 gross, minus our 0.0015 fee = .0044 BTC per share paid to shareholders!

News coming soon.

teek