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Author Topic: [GLBSE] MergedMining BTC/NMC Mining Company  (Read 43620 times)
OgNasty
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October 09, 2011, 10:34:18 PM
#1

MergedMining is a Bitcoin mining company seeking to utilize the "merged" mining technique to increase investment returns by mining for bitcoins and namecoins at the same time. MergedMining has access to electricity at a variable $0.05-$0.16/kWh rate and free internet, making mining costs extremely manageable and giving MergedMining the potential to outperform it's peers.



You can purchase shares using the GLBSE under the ticker symbol MergedMining.

Mining Rig #1:
  • Butterfly Labs Bitforce Single
  • x2 ATI Radeon HD 5970 w/ Danger Den Waterblocks
  • ATI Radeon HD 5870 w/ Danger Den Waterblock
  • Watercooling Loop (Pump, Radiator, Reservoir)
  • Gigabyte 870A-USB3 ATX Motherboard
  • PC Power and Cooling Silencer Mk II 950W
  • AMD Sempron 130 Sargas 2.6GHz & Heatsink/Fan
  • Kingston 4GB (2 x 2GB) 240-Pin DDR3 SDRAM
  • Western Digital 500GB HD
  • Kill A Watt Electricity Meter

Dividend Payments:

Donate Hashing Power:


Updated: 5/19/12

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October 10, 2011, 02:22:36 AM
#2

What kind of dividends could we expect?  Why are you issuing 1000 BTC worth of shares (i.e. what is your plan with these funds)?
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October 10, 2011, 02:54:48 AM
#3

FREQUENTLY ASKED QUESTIONS:


What kind of dividends could we expect?
We are currently paying a dividend of 0.001 BTC/share.  That is a annual dividend yield of 58% based on our IPO price.

Why are you issuing 1000 BTC worth of shares (i.e. what is your plan with these funds)?
With 1000 BTC I would love to build mining rigs with multiple 5970s or FPGAs. Any additional funds could be used for investments, having a website created, or any other ideas that may come from shareholders.

The namecoin hash rate dropped drastically after a huge rise in difficulty, so blocks are going really slow. Has the difficulty adjusted back down yet, so blocks come at a normal rate?
You can check the difficulty for namecoin and bitcoin here: http://dot-bit.org/tools/nextDifficulty.php
The namecoin difficulty will be adjusted down by the time our rig is operational.

Have you considered selling your personal rigs to your business?
Yes, but my personal rigs aren't built with costs in mind and wouldn't make the best investment for my shareholders.

What will you do if exchange rate drops below a price that would cover our power cost?
My power is charged at 2 different rates.  $0.16/kWh from 9am-9pm & $0.05/kWh from 9pm-9am.  If the exchange rate continued to drop to where mining was no longer profitable at the average $0.11/kWh rate, I would likely begin running the miners only from 9pm-9am.  If the exchange rate dropped to where it was no longer profitable to mine using $0.05/kWh electricity, I would propose a shareholder motion to see if the equipment should be sold off to refund investors.

What policy will you use to sell the namecoins?
This will be based on market conditions.  Perhaps some ideas could be floated on this thread to give shareholders the opportunity to voice their opinion on this subject.

When will you start paying dividends?
Weekly dividend payments will begin on November 6th, 2011.

How will dividends be calculated?
Dividends will be split among the purchased shares.  For example, if 10,000 shares have been issued, but only 1,000 purchased, those 1,000 purchased shares would split the entire dividend payment equally on a per share basis.  The amount of the dividend will be at my discretion and based on the company's current financial situation.

How often will you pay dividends?
I'm planning to pay dividends weekly.  This could change at any time, but would most likely never be longer than monthly.

I might be selling my 5970. Would it be possible to trade it for shares in the company?
Yes.  PM me with any trade offers.  

Could you make a spreadsheet, with company info contained on it?
I am working to implement an automated accounting display.  I hope to have something better and more trustworthy than a spreadsheet in place on this thread by the time the miner goes live.

What OS do you use for mining?
I am planning to use Win7 with cgminer.

Do we see somewhere how many shares are on the market and how many are held by you?
There are 10,000 shares available.  You can figure out the amount that have been purchased by doing some math each week when dividends are paid.

Can you issue new shares at any time, how does that work exactly?
New shares can only be issued following a shareholder vote.

The shares you have in your account, can you only offer them for the initial price of 0.1 or can you also just sell them on the market?
Shares can be sold at any price, at any time.

Do you have plans to buy back shares at some point?
I would definitely like to buy back shares at some point and will do so if I feel it is in our shareholder's best interests.

What are the future prospects for your company?
I will continue to aggressively pursue the expansion of profits for my investors.  Keep your eye on this thread for updates and information on future expansion plans.

Do you keep 5,000 shares back for additional hardware?
Shares are held back for many reasons, including additional hardware purchases.  This number could increase or decrease depending on opportunities that may arise.

Can you explain to me how all this works?
You buy shares of the company using the GLBSE.  You then get to vote on company motions as well as receive profits from the company in the form of dividends.  Dividends are credited to your account, and you can do whatever you'd like with them (withdraw, reinvest, spend, etc.).  There are two ways you can profit from owning shares on the GLBSE.  A) Dividends B) Buy low and sell high.
For more information on how public companies work, I'll refer you to wikipedia.
http://en.wikipedia.org/wiki/Public_company

What do you plan on doing with the NMC?  Sell it at some point or send it to shareholders?
NMC has been sold off in the past and more could be sold off if I feel it would benefit the company.  There are currently no plans to pay dividends in NMC.

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unthy
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October 10, 2011, 06:00:43 AM
#4

Wow...

Quote
Trades:
Oct 10, 2011, 04:40:44   0.10000   901.00   
Oct 10, 2011, 04:40:42   0.09000   99.00

Just wow...

Congrats on the extreme growth sir...

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October 10, 2011, 05:12:37 PM
#5

Congrats on the extreme growth sir...

Thank you.

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October 11, 2011, 01:17:57 AM
#6

Since you're clearly getting funds now, how do you plan to start using this capital to build miners?  When do you expect to start sending out dividends?
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October 11, 2011, 03:29:40 AM
#7

I have not been keeping up with namecoin much. I remember somebody saying that the hash rate dropped drastically after a huge rise in difficulty, so blocks are going really slow. Has the difficulty adjusted back down yet, so blocks come at a normal rate?
The difficulty will drop within a few days, but then it will very sharply increase next time around to even higher than it is now (I'm guessing merged mining has really caught on).
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October 11, 2011, 03:30:11 AM
#8

Since you're clearly getting funds now, how do you plan to start using this capital to build miners?  When do you expect to start sending out dividends?

ASAP. As soon as enough capital is raised to purchase the bare necessities, a rig will be brought online to begin paying out dividends.


I have not been keeping up with namecoin much. I remember somebody saying that the hash rate dropped drastically after a huge rise in difficulty, so blocks are going really slow. Has the difficulty adjusted back down yet, so blocks come at a normal rate?

You can check the difficulty for namecoin and bitcoin here: http://dot-bit.org/tools/nextDifficulty.php
The namecoin difficulty will be adjusted down by the time our rig is operational.

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unthy
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October 14, 2011, 09:27:24 PM
#9

Have you considered selling your personal rigs to your business, but buying the rigs from yourself using stock?
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October 15, 2011, 01:53:21 AM
#10

Have you considered selling your personal rigs to your business, but buying the rigs from yourself using stock?

Yes, but my personal rigs aren't built with costs in mind and wouldn't make the best investment for my shareholders.

I have reached an agreement with bou707 to purchase 2x5970s for MergedMining:
https://bitcointalk.org/index.php?topic=45233.0

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October 16, 2011, 08:08:00 AM
#11

I just bought some shares. I will buy more once I have higher confidence in this business.

Can you make some predictions (or calculations) as to what dividends we can expect. How often will you pay the dividends, how exactly will you go about calculating the amount?

I'm really interested in this, since my own little miner will likely have to be shut down due to energy prices being too high where I live. I'd still like to mine and support bitcoin, however, and this seems a good way to do this.

EDIT: more questions (integrating questions from above):

  • In the top post, it says "2x5970 (sale pending)". Do you mean "purchase pending" or did you buy them and are selling them again?
  • What will you do if exchange rate drops below a price that would cover our power cost?
  • What policy will you use to sell the namecoins? Sell right away?
  • When will you start paying dividends?
  • How will dividends be calculated?
  • How often will you pay dividends?

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October 16, 2011, 03:17:30 PM
#12

What will you do if exchange rate drops below a price that would cover our power cost?

My power is actually charged at 2 different rates.  $0.16/kWh from 9am-9pm & $0.05/kWh from 9pm-9am.  If the exchange rate continued to drop to where mining was no longer profitable at the average $0.10/kWh rate, I would most likely begin running the miners only from 9pm-9am.  If the exchange rate dropped to where it was no longer profitable to mine using $0.05/kWh electricity, I would propose a shareholder motion to see if the equipment should be sold off to refund investors.


What policy will you use to sell the namecoins? Sell right away?

Good question.  This will most likely be based on market conditions.  With the namecoin difficulty so low right now, I'm expecting a large price drop coming for namecoins.  I do like the idea of namecoins being like the company's "savings" while bitcoins were sold to pay costs and paid to investors as dividends.  Perhaps some ideas could be floated on this thread to give shareholders the opportunity to voice their opinion on this subject.


When will you start paying dividends?

As soon as possible.  This will depend on our ability to raise funds for building a rig.  Being conservative, I'd say by November 5th we should have a rig in place and enough bitcoins generated to make a good dividend distribution.


How will dividends be calculated?

Dividends will be split among the purchased shares.  For example, if 10,000 shares have been issued, but only 1,000 purchased, those 1,000 purchased shares would split the entire dividend payment equally on a per share basis.  The amount of the dividend will be at my discretion and based on the company's current financial situation.


How often will you pay dividends?

I'm planning to pay dividends weekly.  This could change at any time, but would most likely never be longer than monthly.

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October 16, 2011, 03:46:43 PM
#13

Thanks, OgNasty, for your answers to my questions. These satisfy me quite a bit and I will buy some more shares now Wink

On another note: I might be selling my 5970 (I pay $0.30 per kWh). Should you have use for one, I might be willing to sell them for shares in the company. Would that be possible at all?

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October 18, 2011, 06:48:33 AM
#14


Current Assets:
  • $347.02
  • 8.98BTC
  • 19.74NMC
  • 2x5970s (purchase pending)
  • Motherboard/CPU/PSU/HD/Ram/WiFi (ordered from NewEgg.com on 10/16/11)

Updated: 10/17/11

a suggestion: could you maybe make this into a spreadsheet, with the info above contained in one row? That way, we could see changes more easily. You could use google docs or editgrid or a similar service and make the sheet publicly viewable.

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October 18, 2011, 04:20:56 PM
#15

a suggestion: could you maybe make this into a spreadsheet, with the info above contained in one row? That way, we could see changes more easily. You could use google docs or editgrid or a similar service and make the sheet publicly viewable.

Thanks for the suggestion.  I'm brainstorming on how to implement an automated accounting display of some kind.  I hope to have something better and more trustworthy in place by the time the miner goes live.

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October 20, 2011, 11:54:05 AM
#16

Hi, it's been a while, what's the status on these issues:

  • current asset list? can you update in main post?
  • timeline for starting mining
  • question: which pool will you use? I opt for eligius, that way we can confirm mining operations/profit without needing a login (just the pool address necessary), easy namecoin merged mining support (I tried it, very simple)
  • question: what OS do you use for mining?

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October 20, 2011, 04:44:01 PM
#17

        • current asset list? can you update in main post?
        I updated this information last night.  I sold off all the BTC and deducted the amount of funds needed to pay bou707.  The NMC are in the process of being sold off and are not accounted for in the current totals.  I will have something better in place once the miner is operational. 

        • timeline for starting mining
        Yesterday we received a majority of the parts needed to get the first miner running.  The remaining parts should arrive Friday/Saturday.  I'm hoping to be mining away by Saturday morning.

        • question: which pool will you use? I opt for eligius, that way we can confirm mining operations/profit without needing a login (just the pool address necessary), easy namecoin merged mining support (I tried it, very simple)
        I plan to use multiple pools due to all the DDOS attacks happening lately.  I think using 1 pool would invite problems.

        • question: what OS do you use for mining?
        I'm planning to use Win7 to begin with.  I may switch to Ubuntu at some point if I feel that the operation would benefit from it.

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        October 20, 2011, 09:50:05 PM
        #18

              • current asset list? can you update in main post?
              I updated this information last night.  I sold off all the BTC and deducted the amount of funds needed to pay bou707.  The NMC are in the process of being sold off and are not accounted for in the current totals.  I will have something better in place once the miner is operational. 

              • timeline for starting mining
              Yesterday we received a majority of the parts needed to get the first miner running.  The remaining parts should arrive Friday/Saturday.  I'm hoping to be mining away by Saturday morning.

              • question: which pool will you use? I opt for eligius, that way we can confirm mining operations/profit without needing a login (just the pool address necessary), easy namecoin merged mining support (I tried it, very simple)
              I plan to use multiple pools due to all the DDOS attacks happening lately.  I think using 1 pool would invite problems.

              • question: what OS do you use for mining?
              I'm planning to use Win7 to begin with.  I may switch to Ubuntu at some point if I feel that the operation would benefit from it.

              thanks for the information.

              another question: up until about 3 days ago there where still around 800 shares available on GLBSE at the starting price of 0.10 BTC/share.
              These seem to have disappeared without leaving a trace on bitcoincharts (http://charts.glbse.com/charts/MergedMining#rg30zigHourlyzvztgSzm1g10zm2g25). If someone had bought them, one should see a volume bar there. I think they disappeared around Oct 19th. Any info on this for us?

              [/list][/list][/list]

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              October 20, 2011, 11:47:34 PM
              #19

              up until about 3 days ago there where still around 800 shares available on GLBSE at the starting price of 0.10 BTC/share.
              These seem to have disappeared without leaving a trace on bitcoincharts (http://charts.glbse.com/charts/MergedMining#rg30zigHourlyzvztgSzm1g10zm2g25). If someone had bought them, one should see a volume bar there. I think they disappeared around Oct 19th. Any info on this for us?

              No problem.  Once the parts for a mining rig were ordered, the company was then tied to the value of something.  When the BTC price dropped, it would have allowed new investors to buy shares of the company at a much lower cost (in dollar terms) than the company was actually worth.  For that reason, I decided that it was no longer in my shareholder's best interests to be selling shares for 0.1BTC/share.  The sell orders you see on the GLBSE now are not being sold by the company.

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              October 21, 2011, 06:23:09 AM
              #20

              up until about 3 days ago there where still around 800 shares available on GLBSE at the starting price of 0.10 BTC/share.
              These seem to have disappeared without leaving a trace on bitcoincharts (http://charts.glbse.com/charts/MergedMining#rg30zigHourlyzvztgSzm1g10zm2g25). If someone had bought them, one should see a volume bar there. I think they disappeared around Oct 19th. Any info on this for us?

              No problem.  Once the parts for a mining rig were ordered, the company was then tied to the value of something.  When the BTC price dropped, it would have allowed new investors to buy shares of the company at a much lower cost (in dollar terms) than the company was actually worth.  For that reason, I decided that it was no longer in my shareholder's best interests to be selling shares for 0.1BTC/share.  The sell orders you see on the GLBSE now are not being sold by the company.  I'd urge investors to take advantage of this opportunity and buy cheap shares while they can.  Doing the math on the assets the company now holds, it is my opinion that MergedMining shares should be trading around 0.15BTC/share based on the value of the equipment alone.  Fair value if you think we will be profitable is now probably closer to around 0.17BTC/share.  But that is just my opinion.

              Thanks for being open about everything so far. Keep it up and I'm looking forward to the miner running. Should you need help with anything, you can always ask me, also on irc, I'm molecular there.

              EDIT: you shouldn't have said that about the price being too low, now some offers disappeared and best price is 0.14 Wink

              EDIT2: 3 questions about GLBSE: 1.) there's 10000 shares in all, do we see somewhere how many are on the market and how many are held by you? 2.) can you issue new shares at any time, how does that work exactly? 3.) the shares you have in your account, can you only offer them for the initial price of 0.1 or can you also just sell them on the market?

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              October 21, 2011, 03:59:01 PM
              #21

              EDIT: you shouldn't have said that about the price being too low, now some offers disappeared and best price is 0.14 Wink

              All companies offer guidance.  I'll try to be more reserved with my opinions in the future.  


              EDIT2: 3 questions about GLBSE: 1.) there's 10000 shares in all, do we see somewhere how many are on the market and how many are held by you? 2.) can you issue new shares at any time, how does that work exactly? 3.) the shares you have in your account, can you only offer them for the initial price of 0.1 or can you also just sell them on the market?

              1) Not that I know of.  Perhaps I'll make this public information.

              2) I believe so.  I would NEVER issue new shares without a shareholder vote.  Dilution is not a friend to the shareholder.

              3) Shares can be sold at any price, at any time.

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              October 22, 2011, 06:56:10 PM
              #22

              how is miner coming along? I hope you have some fun building/configuring Wink

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              October 22, 2011, 08:59:48 PM
              #23

              how is miner coming along? I hope you have some fun building/configuring Wink

              The motherboard didn't arrive yesterday as expected.  Since it's being shipped via UPS from newegg and they don't deliver on Saturdays, it looks like this rig won't be coming online any sooner than Monday night.

              allright, thanks for letting us know.

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              October 23, 2011, 07:31:53 AM
              #24

              I would like to purchase a dual FPGA board for the company in order to ensure profitability by lowering power consumption per megahash.  In order to purchase this board, the company is listing 1,100 shares at 0.136/share. 

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              October 23, 2011, 09:03:55 AM
              #25

              I would like to purchase a dual FPGA board for the company in order to ensure profitability by lowering power consumption per megahash.  In order to purchase this board, the company is listing 1,100 shares at 0.136/share. 

              I'm actually opposed to adding an FPGA miner to your mining equipment at this point in time, personally.

              Why don't you ask your shareholders first via a motion on glbse and present some math here on the thread?

              I doubt it's profitable if prices rise more in the coming months. I agree it's a sort of insurance against falling prices, but too expensive in my mind.

              Can you compare adding the FPGA miner to adding another 5970 for different bitcoin price levels (say $2, $3, $5, $10)?


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              October 23, 2011, 03:09:57 PM
              #26

              Why don't you ask your shareholders first via a motion on glbse and present some math here on the thread?

              You bring up a good point.


              I doubt it's profitable if prices rise more in the coming months. I agree it's a sort of insurance against falling prices, but too expensive in my mind.

              Don't doubt that it would be profitable if prices rise.  A price rise would only make the addition more profitable.  A price drop would make it more valuable and essential to the company.  


              Can you compare adding the FPGA miner to adding another 5970 for different bitcoin price levels (say $2, $3, $5, $10)?

              It's not so much about direct comparisons (although I have done the math).  I think we all know that 5970s are more profitable at $10/BTC.  However, an FPGA miner would be profitable at a $0.25/BTC.  Since we already have 2-5970s, I think the added ability to maintain profitability at a $0.25/BTC rate is the bigger advantage.

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              October 23, 2011, 04:22:49 PM
              #27

              If this gets bought I will be selling my shares. I thought you were getting 5970's?

              We have 2-5970s already. Perhaps I should put it up for a vote before making the purchase.

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              October 25, 2011, 10:35:22 AM
              #28

              The miner has been built and is functional. I need to get some sleep.  It will be hashing away by tomorrow evening.

              Nice! This is good to hear.

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              October 27, 2011, 03:59:22 PM
              #29

              Bad news. The motherboard has a dead PCI-E slot. It is being returned to newegg. Unfortunately, that means a loss of $10.73 to ship it back and nearly a $15 restocking fee. Since it is out of stock, a replacement is not an option. I will order a new motherboard and get it running as soon as possible.

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              October 27, 2011, 06:29:14 PM
              #30

              Bad news. The motherboard has a dead PCI-E slot. It is being returned to newegg. Unfortunately, that means a loss of $10.73 to ship it back and nearly a $15 restocking fee. Since it is out of stock, a replacement is not an option. I will order a new motherboard and get it running as soon as possible.
              They don't pay the return shipping and waive the restocking fee for sending you a defective part?
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              October 30, 2011, 12:41:06 AM
              #31

              • question: which pool will you use? I opt for eligius, that way we can confirm mining operations/profit without needing a login (just the pool address necessary), easy namecoin merged mining support (I tried it, very simple)
              I plan to use multiple pools due to all the DDOS attacks happening lately.  I think using 1 pool would invite problems.

              • question: what OS do you use for mining?
              I'm planning to use Win7 to begin with.  I may switch to Ubuntu at some point if I feel that the operation would benefit from it.
              [/quote]

              I would suggest using BAMT. It will be much easier on you in the long run and will lower your overall power consumption

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              October 31, 2011, 11:21:53 AM
              #32

              what's the new timeline for getting the 5970s online?

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              November 01, 2011, 11:46:44 AM
              #33

              what's the new timeline for getting the 5970s online?

              I went ahead and used my own money to order another motherboard so we wouldn't have to wait for the exchange process with newegg. The new board should arrive Wednesday or Thursday. As soon as the board is delivered, I'll get it running. Hopefully this is the last hurdle.

              It's nice of you to use your own money. I'm assuming why we see -15$ in the asset list?

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              November 02, 2011, 05:52:26 PM
              #34

              A motion has been submitted on the FPGA issue and will run for a couple days.  Please vote.  If a majority 'Yes' vote is received, I will move forward in purchasing an FPGA miner.

              Voting ends on Friday, November 4th at 7:30PM EST has ended.

              The results of the motion show that investors are interested in pursuing an FPGA miner for the company (4:3 in favor of FPGA mining).  However, significant opposition has been noted and I've decided to hold off on the FPGA miner at this time.  That isn't to say an FPGA miner won't be added, but I feel that any effort to raise funds now would be met with opposition and could have a negative effect on share prices in the short term.  This topic will be brought up again if profitability is threatened by a falling bitcoin exchange rate.

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              November 04, 2011, 04:43:43 AM
              #35

              The new motherboard was received today and the miner is now 100% operational.  


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              November 04, 2011, 01:01:35 PM
              #36

              The new motherboard was received today and the miner is now 100% operational. 



              Whoohooooo!

              Nice, when will it start mining? Where can we see mining stats?

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              November 05, 2011, 12:26:54 AM
              #37

              Nice, when will it start mining? Where can we see mining stats?

              The miner has been mining away all night and day.  I'm still trying to figure out the best way to show stats.  I'll have SOMETHING soon.

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              unthy
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              November 05, 2011, 12:31:50 AM
              #38

              Simple tables with date, shares submitted, stale shares, paid credit, unpaid credit and electricity usage on a 24hr basis are nice

              Typically all this information, besides electricity use, can be grabed by the api to save you on data entry

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              November 05, 2011, 04:09:03 PM
              #39

              Nice, when will it start mining? Where can we see mining stats?

              The miner has been mining away all night and day.  I'm still trying to figure out the best way to show stats.  I'll have SOMETHING soon.

              You could just mine on eligius. No account required, so anyone can see the stats without any login.

              They have nice graphs and stats.

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              November 05, 2011, 04:10:24 PM
              #40

              Nice, when will it start mining? Where can we see mining stats?

              The miner has been mining away all night and day.  I'm still trying to figure out the best way to show stats.  I'll have SOMETHING soon.

              You could just mine on eligius. No account required, so anyone can see the stats without any login.

              They have nice graphs and stats, example:

              http://eligius.st/~artefact2/19WCZBTrpSbUWVrJDzAPekodKbiTHvLwnx

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              November 05, 2011, 11:24:47 PM
              #41

              You could just mine on eligius. No account required, so anyone can see the stats without any login.

              I'll look into that.  I decided to go with slush's pool.  Mostly because it is the original bitcoin mining pool and also happens to be the largest merged mining pool.  I've also been quite impressed with how slush has handled the attacks on his pool.

              I added this to the first post showing our miner status:

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              November 06, 2011, 12:01:37 AM
              #42

              You should be PPS mining with 0% fee for profitability purposes. Slush's pool is good but has gone down hill since he went down for I think 3 days and it has greatly effected the amount of blocks found there which will lower your profits

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              November 06, 2011, 01:30:14 AM
              #43

              which will lower your profits increase your variance

              This. But as far as smaller pools are in the game and you're running long-term operation, higher variance (in contrast with deepbit, for example) isn't probably an issue. Just my two cents ;-).

              Edit: Btw number of found blocks should be roughly the same as before an outage, because during the outage dropped the bitcoin difficulty. So it even didn't affect block variance.

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              November 06, 2011, 07:16:02 PM
              #44

              The first dividend of 1 BTC has been paid.  


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              November 07, 2011, 02:29:16 AM
              #45

              The first dividend of 1BTC has been paid.  

              Hmm, seems to me a dividend of BTC ~0.00027624 was payed per share. GLBSE says there are 10,000 shares. That'd be BTC 2.76240034 in sum, no? Can someone explain why this doesn't add up to 1 BTC?

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              November 07, 2011, 02:34:07 AM
              #46

              I added this to the first post showing our miner status:


              ^ currently shows 1.26 GH/s. What's the miner-reported speed?

              I'm getting 799 MH/s from my 5970... do you have plans for overclocking and/or overvolting or are we playing safe?

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              November 13, 2011, 09:57:12 PM
              #47

              The second dividend of 1 BTC has been paid.


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              November 13, 2011, 10:11:42 PM
              #48

              The second dividend of 1BTC has been paid.



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              November 17, 2011, 05:35:09 PM
              #49

              11/17/11 UPDATE:

              After just under 2 weeks of mining we've mined >14BTC & >275NMC. During this period we had one outage due to a network failure that appeared to be an isolated incident. Things are going well.

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              November 17, 2011, 06:46:13 PM
              #50

              can we see some caculations of the last dividend of 1 BTC? why 1 BTC?

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              November 17, 2011, 07:31:47 PM
              #51

              can we see some caculations of the last dividend of 1 BTC? why 1 BTC?

              I decided on a 1BTC weekly dividend for the following reasons:
              1) A 1BTC dividend would be easily sustainable with the current operation.
              2) A 1BTC dividend leaves room for future dividend increases.
              3) The company is still raising funds for future operations/expansion.
              4) A 1BTC dividend makes it very simple for investors to gauge their ownership share in the company.

              My goal in running this company is to provide a reliable dividend and build value for my investors over the long term. I don't feel paying out 100% of profits is the best way to achieve this goal.

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              November 17, 2011, 10:49:41 PM
              #52

              can we see some caculations of the last dividend of 1 BTC? why 1 BTC?

              I decided on a 1BTC weekly dividend for the following reasons:
              1) A 1BTC dividend would be easily sustainable with the current operation.
              2) A 1BTC dividend leaves room for future dividend increases.
              3) The company is still raising funds for future operations/expansion.
              4) A 1BTC dividend makes it very simple for investors to gauge their ownership share in the company.

              My goal in running this company is to provide a reliable dividend and build value for my investors over the long term. I don't feel paying out 100% of profits is the best way to achieve this goal.

              Maybe you can make a publicy viewabe spreadsheet with some info. Doesn't need to be fancy, neither does it necessarily need to be complete (date, current hashrate, BTC holdings, USD holdings, dividend payed, power payed, hardware payed...), one row each day or week or even irregularly

              I like the one JLP-BMD does for their mining efforts: https://docs.google.com/spreadsheet/ccc?key=0AsC42HRQbtMHdDdwendjYm1QZHlLbEtQOVZwa1hCbFE&hl=en_US

              If you dont like google, maybe use editgrid.com

              It's really hard to evaluate stuff when you have to extract the info from a bitcointalk thread.

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              November 17, 2011, 11:07:55 PM
              #53

              can we see some caculations of the last dividend of 1 BTC? why 1 BTC?

              I decided on a 1BTC weekly dividend for the following reasons:
              1) A 1BTC dividend would be easily sustainable with the current operation.
              2) A 1BTC dividend leaves room for future dividend increases.
              3) The company is still raising funds for future operations/expansion.
              4) A 1BTC dividend makes it very simple for investors to gauge their ownership share in the company.

              My goal in running this company is to provide a reliable dividend and build value for my investors over the long term. I don't feel paying out 100% of profits is the best way to achieve this goal.

              Maybe you can make a publicy viewabe spreadsheet with some info. Doesn't need to be fancy, neither does it necessarily need to be complete (date, current hashrate, BTC holdings, USD holdings, dividend payed, power payed, hardware payed...), one row each day or week or even irregularly

              I like the one JLP-BMD does for their mining efforts: https://docs.google.com/spreadsheet/ccc?key=0AsC42HRQbtMHdDdwendjYm1QZHlLbEtQOVZwa1hCbFE&hl=en_US

              If you dont like google, maybe use editgrid.com

              It's really hard to evaluate stuff when you have to extract the info from a bitcointalk thread.


              I for one thoroughly enjoy browsing JLP-BMD's spreadsheet.  Daily output of how the operation is going.  Not to mention it has all the information you could want Cheesy

              It's definitely a great base for tracking I'd say.
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              November 17, 2011, 11:31:53 PM
              #54

              I'll be honest...  I'm not going to update a spreadsheet daily and I think that is in your best interests.  Who is to say the manually entered information isn't manipulated, incorrect, or outright fradulent?  I'm all for automated solutions that can't be manually altered and I have been looking into what is possible.  I'll be adding more statistics as soon as I can, although electricty usage will be a tough one (maybe a webcam showing the kill-a-watt meter?).  I can add hardware costs and will do so if you'd like.  The current hash rate, dividends paid, current hardware, and BTC holdings are all shown on the first page of this thread.  Current BTC holdings shows the amount of NMC that have been converted to BTC (none have been converted yet) and are being held in "savings."  I think having all of the information available on one thread and updated in real time is actually more beneficial than a spreadsheet located on a different site that has to be manually updated.  Perhaps eventually we will have our own website with all of this information available in a sexy format.  First, we need to generate more profits, which takes time.

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              November 18, 2011, 01:12:15 AM
              #55

              I'll be honest...  I'm not going to update a spreadsheet daily and I think that is in your best interests.  Who is to say the manually entered information isn't manipulated, incorrect, or outright fradulent?  I'm all for automated solutions that can't be manually altered and I have been looking into what is possible.  I'll be adding more statistics as soon as I can, although electricty usage will be a tough one (maybe a webcam showing the kill-a-watt meter?).  I can add hardware costs and will do so if you'd like.  The current hash rate, dividends paid, current hardware, and BTC holdings are all shown on the first page of this thread.  Current BTC holdings shows the amount of NMC that have been converted to BTC (none have been converted yet) and are being held in "savings."  I think having all of the information available on one thread and updated in real time is actually more beneficial than a spreadsheet located on a different site that has to be manually updated.  Perhaps eventually we will have our own website with all of this information available in a sexy format.  First, we need to generate more profits, which takes time.

              It doesn't need to be daily.

              The drawback of updating the info in thread is: you dont see the history, which is important.

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              November 19, 2011, 06:34:28 PM
              #56

              The third dividend of 1 BTC has been paid.


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              November 20, 2011, 11:43:20 PM
              #57

              Nice  Cheesy

              hopefully in 2 weeks you can increase the dividends

              Sounds like a good plan.

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              November 24, 2011, 03:24:23 PM
              #58

              Happy Thanksgiving!

              A 1 BTC Thanksgiving Dividend has been paid.


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              November 24, 2011, 03:33:04 PM
              #59

              Happy Thanksgiving!

              A 1BTC Thanksgiving Dividend has been paid.


              yay!

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              November 26, 2011, 05:56:05 PM
              #60

              The fifth dividend of 1 BTC has been paid.



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              November 26, 2011, 11:31:40 PM
              #61

              subscribed, I would be interested in investing, could you send me more info???

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              December 01, 2011, 04:34:53 PM
              #62

              subscribed, I would be interested in investing, could you send me more info???

              PM sent.

              UPDATE: Prepaid electricity for December.

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              December 03, 2011, 04:00:04 PM
              #63

              A dividend of 3 BTC has been paid.


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              December 03, 2011, 07:20:18 PM
              #64

              It's also worth mentioning that we currently have 369.43073107 NMC.

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              December 03, 2011, 09:25:57 PM
              #65

              thanks for the message I will get back to you next week, would it be possible to organise a quick skype conference?

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              December 06, 2011, 04:27:27 PM
              #66

              I've started converting our NMC to BTC. You can see the amount of NMC that have been converted to BTC in the current holdings at the beginning of this thread. These BTC will be held as our long term savings.

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              December 07, 2011, 03:28:05 AM
              #67

              how many mega/ghash now ?



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              December 07, 2011, 11:03:04 AM
              #68

              I decided to try GLBSE and learn how that stuff works. Congratulation for your mining operation, I'm now proud owner of 34 shares :-).

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              December 07, 2011, 06:35:31 PM
              #69

              I decided to try GLBSE and learn how that stuff works. Congratulation for your mining operation, I'm now proud owner of 34 shares :-).

              Excellent. One more reason why I'm glad to be mining with your pool.

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              December 10, 2011, 06:24:03 PM
              #70

              A dividend of 4 BTC has been paid.


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              December 16, 2011, 11:28:32 PM
              #71

              I'm late, but: Thanks. Keep up the good work!

              You're welcome.

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              December 17, 2011, 07:11:04 PM
              #72

              A dividend of 4 BTC has been paid.


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              December 17, 2011, 09:57:25 PM
              #73

              Grin

              6 btc next week !!

              We aren't profitable enough to go that high yet, but I am looking into adding more capacity.

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              December 19, 2011, 09:32:48 PM
              #74

              Hm, I read a post about issuing some new shares for buying new card here few days ago, right? Or it was another thread? Anyway, all shares are sold already, are you going to add second card?

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              December 20, 2011, 12:06:02 AM
              #75

              Hm, I read a post about issuing some new shares for buying new card here few days ago, right? Or it was another thread? Anyway, all shares are sold already, are you going to add second card?

              More hardware is on the way.  Hopefully by this weekend you see our rig hashing away at around 1.7gh/s.

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              December 20, 2011, 04:03:52 PM
              #76

              how much shares remain to be sold ?

              how much money in glbse now from shares sold ?

              Unfortunately, it looks like I cashed out our BTC a little early but it was still a great offering. We currently have over $200, around 10BTC & a 5830 on the way. About 1/2 of the issued shares are still remaining to be sold and we haven't run into any major problems.

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              December 20, 2011, 06:15:20 PM
              #77

              How are the issued shares being sold? Are they just sitting on the order book at GLBSE? At what price?
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              December 20, 2011, 06:58:51 PM
              #78

              How are the issued shares being sold? Are they just sitting on the order book at GLBSE? At what price?

              Issued shares are being sold on the GLBSE or held by the company. The company is currently not listing any shares for sale as the previous listing of 500 shares at 0.14BTC has been sold.

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              December 20, 2011, 10:31:46 PM
              #79

              OgNasty,

              First I'd like to thank you for the opportunity to participate in this mining enterprise. I do think qxzn has a good question as clarity about how you might issue future shares will give investors more confidence in the endeavor.

              Other questions: When the 10000 shares run out will you issue more? Do you have plans to buy back shares at some point? How do you price the shares you are selling? Are there any stock issuance policies beyond what is listed in the asset contract?

              Thanks,

              weex

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              December 21, 2011, 12:37:59 AM
              #80

              First I'd like to thank you for the opportunity to participate in this mining enterprise.
              You're welcome.

              When the 10000 shares run out will you issue more?
              Probably not.  I want to keep this operation fairly small.  I think that's probably the best way to reduce shareholder risk.  

              Do you have plans to buy back shares at some point?
              I would definitely like to buy back shares at some point and will do so if I feel it is in our shareholder's best interests.

              How do you price the shares you are selling?
              I try to value the company's assets/earnings and price the shares at a level I feel is fair.  I'm hoping that someone will eventually create a system to list the market cap and dividend % of listings on the GLBSE to help shareholders make independent decisions regarding their investments.

              Are there any stock issuance policies beyond what is listed in the asset contract?
              No.

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              December 24, 2011, 07:49:12 PM
              #81

              A dividend of 4 BTC has been paid.


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              December 25, 2011, 12:59:43 AM
              #82

              It looks like the GLBSE went down right after the dividend was paid.  Whenever the site comes back online I'll make sure all dividends are paid.

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              OgNasty
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              December 25, 2011, 05:53:03 PM
              #83

              A dividend of 1 BTC has been paid.  Merry Christmas!


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              December 26, 2011, 03:55:18 PM
              #84

              i checked glbse, the dividends dont show up

              Same here.  The last 2 dividends are missing (4 BTC + 1 BTC)

              Fixed.  Enjoy the holidays!

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              unthy
              StewartJ
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              December 26, 2011, 07:23:42 PM
              #85

              I have read  this thread with much interest.

              MergedMining by every indication seems to be a successful start-up enterprise. Every step of the way, this company seems to have had transparent disclosure, with regular and healthy BTC dividends.  What are the future prospects for your company? Do you anticipate more growth and expanding your mining rigs?

              Can shares of MergedMining be purchased via GLBSE today? And is this the only way to purchase shares at this time or do you plan on issuing more shares in the future?

              I have never used the GLBSE before, how hard is it to purchase and sell shares with this exchange? I have heard they do experience some downtime.

              Thanks for your feedback, and congratulations on your company's success.

              Best,
              SJ



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              December 26, 2011, 09:05:12 PM
              #86

              Quick question, how do GLBSE shareholders of Merged Mining receive dividends from you? Is it done directly thru GLSBE?

              Thanks, SJ
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              December 26, 2011, 09:20:29 PM
              #87

              I have read  this thread with much interest.

              MergedMining by every indication seems to be a successful start-up enterprise. Every step of the way, this company seems to have had transparent disclosure, with regular and healthy BTC dividends.  What are the future prospects for your company? Do you anticipate more growth and expanding your mining rigs?

              Can shares of MergedMining be purchased via GLBSE today? And is this the only way to purchase shares at this time or do you plan on issuing more shares in the future?

              I have never used the GLBSE before, how hard is it to purchase and sell shares with this exchange? I have heard they do experience some downtime.

              Thanks for your feedback, and congratulations on your company's success.

              Best,
              SJ


              its easy, downtimes are not frequent. you just have to keep your user ID and private key safe. register and I will transfer 1 SLV share & 1 SIN share to you.

              Thanks for the info. I did register with GLBSE and purchased some shares of MergedMining.  Will be happy to receive the SLV and SIN shares, let me know what you need from me for that transfer?

              So far so good with GLBSE... keep up the good work. SJ
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              December 26, 2011, 09:42:40 PM
              #88

              send me your user ID via pm or post it here and I will transfer the shares to you.

              Hi Sen,

              PM'ed you the ID number. Thanks for the shares, fun to play with.

              I had read the SLV Offering thread, now defunct I take it. Sounded promising. I still think there could be a lot more done with Silver and Bitcoins in some sort of exchange mechanism. Noticed CoinAbul is doing something.

              I purchased MergedMining shares and soon to get TyGrr as well. This is just too cool. Hoping GLBSE will grow and grow as more start-ups come online.

              SJ

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              December 26, 2011, 09:49:05 PM
              #89

              sent enjoy Smiley

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              December 26, 2011, 09:54:55 PM
              #90

              sent enjoy Smiley



              Got them thanks !
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              December 26, 2011, 10:30:31 PM
              #91

              What are the future prospects for your company? Do you anticipate more growth and expanding your mining rigs?

              These are good questions.  I am not 100% sure about future expansion plans.  I have received quite a bit of interest and offers for expansion, I just want to be careful and try to limit my mistakes.  I have had people pitch ideas at me like adding a solar panel or wind turbine to provide free electricity as well as FPGA mining to increase efficiency and even water cooling to increase our clock speeds.  I can say I am somewhat satisfied with how things are running at the moment, but will continue to look for opportunities to increase shareholder value.

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              unthy
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              December 27, 2011, 12:33:00 AM
              #92

              i bought ten shares, the hot chick with money sold me.

              Tym's Get Rich Slow scheme: plse send .00001 to
              btc: 1DKRaNUnMQkeby6Dk1d8e6fRczSrTEhd8p ltc: LV4Udu7x9aLs28MoMCzsvVGKJbSmrHESnt
              thank you.
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              December 27, 2011, 10:30:49 AM
              #93

              What are the future prospects for your company? Do you anticipate more growth and expanding your mining rigs?

              These are good questions.  I am not 100% sure about future expansion plans.  I have received quite a bit of interest and offers for expansion, I just want to be careful and try to limit my mistakes.  I have had people pitch ideas at me like adding a solar panel or wind turbine to provide free electricity as well as FPGA mining to increase efficiency and even water cooling to increase our clock speeds.  I can say I am somewhat satisfied with how things are running at the moment, but will continue to look for opportunities to increase shareholder value.

              The solar and water cooling are obviously bad suggestions.

              Your power is already cheap, that's why I bought into this company. FPGAs are still too expensive to make sense at this point and I'm assuming bitcoin exchange rate will rise at least as much as FPGA prices will fall. As long as this is the case, FPGA don't make sense in my mind.

              I think it would be best to talk any expansions throught with your investors, that way you are much less likely to make mistakes, right?

              PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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              December 27, 2011, 08:28:38 PM
              #94

              Could someone break down what the latest dividend BTC amount came to for a single share of MergedMining?

              Haven not received any yet as I am a new shareholder. Just trying to gauge for future dividends.

              Thanks!

              SJ
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              December 27, 2011, 08:57:56 PM
              #95

              Could someone break down what the latest dividend BTC amount came to for a single share of MergedMining?

              I divided my holdings by the latest 1 BTC dividend and it came out to 0.0002 BTC per share. Inverting that gives 5000 shares that have been sold at this time.

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              December 27, 2011, 09:02:43 PM
              #96

              Could someone break down what the latest dividend BTC amount came to for a single share of MergedMining?

              I divided my holdings by the latest 1 BTC dividend and it came out to 0.0002 BTC per share. Inverting that gives 5000 shares that have been sold at this time.

              Thanks, did not realize it was so small. But these are weekly payouts, and have noticed they come in the 4/5 btc payout range. So not bad overall?
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              December 27, 2011, 09:40:50 PM
              #97


              Thanks, did not realize it was so small. But these are weekly payouts, and have noticed they come in the 4/5 btc payout range. So not bad overall?


              A quick estimate shows an annual rate of return from dividends of about 30%. It will be interesting to see how this investment holds up under difficulty and exchange rate fluctuations.

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              December 31, 2011, 12:07:59 AM
              #98

              I am awaiting the arrival of a 5830.

              The 5830 arrived and kept crashing our rig.  I've contacted the seller and am sending it back for a refund.  In order to make up for this, I purchased a 5870 off of craigslist and it is currently hashing away in our rig.  Everything seems stable at the moment and we're getting over 1.7gh/s.  

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              December 31, 2011, 01:45:44 PM
              #99

              Everything seems stable at the moment and we're getting over 1.7gh/s. 

              +1 !

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              December 31, 2011, 05:40:37 PM

              A dividend of 4 BTC has been paid.  Happy New Year!


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              unthy
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              December 31, 2011, 06:04:14 PM

              hashrate is generated from last 10 rounds, so it has some delay. Also btcstats.net have it's own cache, which can provide additional latency...

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              December 31, 2011, 06:11:15 PM

              General question @ OgNasty: do you keep 5000 shares back for additional hardware?
              It looks like the dividend was 0.0008 BTC per share and the total number of shares is 10000 → so that'd be 8 BTC to pay for 10000 shares or 4 BTC for 5000 shares.
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              December 31, 2011, 06:24:02 PM

              yes so far around 5000 shares sold, even if he released the other 5000 shares , there are shares already being sold at cheaper price.

              @OgyNasty

              it would be nice if you release all shares, and whoever wants to buy let them buy.

              Nope. If he decides to release the shares, the value and dividends of our current shares are permanently down. I don't want 50% of my dividends  Roll Eyes

              Unless you mean: release them to buy more hardware!
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              December 31, 2011, 06:30:52 PM

              General question @ OgNasty: do you keep 5000 shares back for additional hardware?

              The 5000 shares are being held for many reasons, including additional hardware purchases.  This number could increase or decrease depending on opportunities that may arise.


              @OgNasty

              it would be nice if you release all shares, and whoever wants to buy let them buy.

              Nope. If he decides to release the shares, the value and dividends of our current shares are permanently down. I don't want 50% of my dividends  Roll Eyes

              +1

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              December 31, 2011, 06:49:07 PM

              General question @ OgNasty: do you keep 5000 shares back for additional hardware?

              The 5000 shares are being held for many reasons, including additional hardware purchases.  This number could increase or decrease depending on opportunities that may arise.


              @OgNasty

              it would be nice if you release all shares, and whoever wants to buy let them buy.

              Nope. If he decides to release the shares, the value and dividends of our current shares are permanently down. I don't want 50% of my dividends  Roll Eyes

              +1
              It seems that right now with the BTC price being so high the current share price is highly overvalued. (current .14 /.0008 = 152 week payback) This would be an excellent opportunity to release new shares sell more of the existing shares for hardware, imho.

              1500 more shares sold at .12 = 180BTC or ~$846.
              Would this be enough to get 2 more 5970 going?
              It would more than double the divi payments...

              If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
              It is being worked on by smart people. -DamienBlack
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              December 31, 2011, 07:17:16 PM

              It seems that right now with the BTC price being so high the current share price is highly overvalued. (current .14 /.0008 = 152 week payback) This would be an excellent opportunity to sell more of the existing shares for hardware, imho.

              At first look I would agree with you.  However, you are underestimating the value of cheap electricity as well as being able to generate BTC without the hassle of running a mining operation.  Those are two rather large benefits that allow this company to trade at a premium to a "do it yourself" BTC mining operation.  Also, the .0008 you referenced is the current dividend rate which may be increased and not the actual earnings per share, which inflates the real payback length.  


              so now that we are regularly getting 4 BTC per week, its time to increase hash speed.

              Hash speed was just increased by >20% yesterday.  Patience young Skywalker.


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              January 02, 2012, 08:34:08 PM

              it says 1.50 ghz on the stats

              shouldnt it be 1.70?



              Our miner is currently showing 1.72gh/s.  I assume btcstats.net isn't real time or uses some sort of average.

              Your welcome to use uberbills.com.  Smiley

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              January 03, 2012, 11:46:21 PM

              With our new capacity online and running stable, I think now is a good time to announce a 25% dividend increase.  The increase will go into effect beginning with a 5BTC 0.001BTC/share January 7th, 2012 dividend payment.


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              January 04, 2012, 12:52:14 AM

              so 5 btc on jan 7?

              I'm pretty sure that's what was just said...

              With our new capacity online and running stable, I think now is a good time to announce a 25% dividend increase.  The increase will go into effect beginning with a 5BTC January 7th, 2012 dividend payment.


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              January 05, 2012, 03:06:20 AM

              I would also request that MergedMining not loan out any funds.

              If there is extra capital available, perhaps we can make suggestions on other ways it could be used to increase profits for MergedMining.

              To start and I'm just brainstorming:

              * more hardware
              * increase electrical efficiency
              * start a pool
              * solo mine and sell virgin blocks for a premium
              * colocation

              Thanks again OgNasty for running this thing.

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              January 05, 2012, 03:23:35 AM

              * more hardware
              * increase electrical efficiency

              * start a pool
              * solo mine and sell virgin blocks for a premium
              * colocation

              Thanks again OgNasty for running this thing.

              You're welcome.  I've listed 500 shares for sale at the lowest ask price to raise funds for future hardware purchases.  I will leave these shares for sale until A) they're sold B) the BTC price falls to where this is no longer beneficial for current shareholders.

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              unthy
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              January 06, 2012, 05:44:39 PM

              This might be a longshot, but I thought I would make the option available in the event shareholders wanted to unite their hashing power to increase company profits...

              If you would like to donate hashing power to MergedMining, you can now point your miner to our Public worker. 

              Pool URL: http://api.bitcoin.cz:8332
              Login: OgNasty.Public
              Password: Donate

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              unthy
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              January 06, 2012, 06:16:21 PM

              This might be a longshot, but I thought I would make the option available in the event shareholders wanted to unite their hashing power to increase company profits...

              If you would like to donate hashing power to MergedMining, you can now point your miner to our Public worker.  

              Pool URL: http://api.bitcoin.cz:8332
              Login: OgNasty.Public
              Password: Donate

              If you wanted hash rate donations, you shouldn't have picked a score pool.  People are basically just wasting their shares there, unless they stay in for full blocks.

              Just a thought.
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              January 06, 2012, 06:21:34 PM

              If you wanted hash rate donations, you shouldn't have picked a score pool.  People are basically just wasting their shares there, unless they stay in for full blocks.

              This is, of course, not true. I thought that the fame "score based pools are penalizing intermittent miners" is already gone.

              By the way, when all people use this public miner, it then acts as one "strong" miner from the side of the pool, which even eliminate this imaginary penalization.

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              January 06, 2012, 06:29:28 PM

              OgNasty: What about "selling" hashrate for the MM company? It would be the easiest way how to rise hashrate, without risking investment to the hardware.

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              January 06, 2012, 06:46:47 PM

              If you wanted hash rate donations, you shouldn't have picked a score pool.  People are basically just wasting their shares there, unless they stay in for full blocks.

              This is, of course, not true. I thought that the fame "score based pools are penalizing intermittent miners" is already gone.

              By the way, when all people use this public miner, it then acts as one "strong" miner from the side of the pool, which even eliminate this imaginary penalization.

              So if I submitted 15 shares....30 minutes into a 2 hours long block and stop.  What would me reward be for those 15 shares ?  No other shares submitted on that same worker during the same block.

              That would be like a hash rate "donation" right ?
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              January 06, 2012, 06:53:11 PM

              So if I submitted 15 shares....30 minutes into a 2 hours long block and stop.  What would me reward be for those 15 shares ?  No other shares submitted on that same worker during the same block.

              Nobody said that score based methods have the same (=zero) variance as PPS, so your question is misleading. I'll put contra question: What happen when you submitted 15 shares one minute before end of the round?

              You picked extreme case. Why should anybody donated exactly 15 shares at one time? Of course that this may lead into huge variance. But if you donate 1-5% of your hashrate steadily, you're drastically eliminating the variance.

              Btw I joined few GPUs into the public account few minutes ago, because I want to see hashrate far over 2Ghash :-)

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              January 06, 2012, 07:03:21 PM

              So if I submitted 15 shares....30 minutes into a 2 hours long block and stop.  What would me reward be for those 15 shares ?  No other shares submitted on that same worker during the same block.

              Nobody said that score based methods have the same (=zero) variance as PPS, so your question is misleading. I'll put contra question: What happen when you submitted 15 shares one minute before end of the round?

              You picked extreme case. Why should anybody donated exactly 15 shares at one time? Of course that this may lead into huge variance. But if you donate 1-5% of your hashrate steadily, you're drastically eliminating the variance.

              Btw I joined few GPUs into the public account few minutes ago, because I want to see hashrate far over 2Ghash :-)

              Correct, no one said that about zero variance...I said that intermittent mining on a score-based pool for "donation" of hashrate is basically not effective and would be a waste.

              I picked an extreme case, because it's plausible.  Why would anyone donate $15 to the UnitedWay once, when they could do it all day long...right ?  Mining intermittently, in the middle of a round, to donate some shares, then leave...will penalize you on score-based pools.  So the below that you wrapped in quotes and I highlighted, is true.

              You still didn't answer how much my reward would be for those 15 shares, that I donated, in that "extreme case" of one-time donating...you know, like a charity ?  Still curious on it.

              I'm just wanting to ensure that all "donated" shares are profitable to the company and investors, has nothing to do with slush or score as a whole, please keep that in mind.



              If you wanted hash rate donations, you shouldn't have picked a score pool.  People are basically just wasting their shares there, unless they stay in for full blocks.

              This is, of course, not true. I thought that the fame "score based pools are penalizing intermittent miners" is already gone.

              By the way, when all people use this public miner, it then acts as one "strong" miner from the side of the pool, which even eliminate this imaginary penalization.
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              January 06, 2012, 07:08:41 PM

              One-time donation of 15 shares submitted one hour before round ending will very likely lead to 0.00000000BTC reward, that's without discussion. But I believe this isn't the real use case.

              Score based pool isn't penalizing intermittent miners. Period. It's just adding more weight to the shares submitted to the end of the round, for some good reason. Don't forget that "intermittent" does not mean "unlucky".

              But this has been written many time and I don't want to open this topic again, especially when it's offtopic here.

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              January 06, 2012, 07:22:10 PM

              OgNasty: What about "selling" hashrate for the MM company? It would be the easiest way how to rise hashrate, without risking investment to the hardware.
              GPUMax.com seems like it might be a good way to do this.  What do you think?

              But if you donate 1-5% of your hashrate steadily, you're drastically eliminating the variance.
              This is what I had in mind.  The hope was that shareholders would each put a little bit of their hashing power toward the public worker.  I take no payment for running this company, and don't want to ask for *cough* donations to the address in my signature *cough*, but thought this could be a good way for us all to benefit in the form of increasing the value of our shares and dividends.  Basically, if shareholders think this is a good company and think I'm doing a good job running it, send a few mh/s to the public worker and let us all benefit from each other's generosity.

              Btw I joined few GPUs into the public account few minutes ago, because I want to see hashrate far over 2Ghash :-)
              Nice.  I wondered who was throwing a gh/s at the public worker.   Wink

              I'm just wanting to ensure that all "donated" shares are profitable to the company and investors, has nothing to do with slush or score as a whole, please keep that in mind.
              Don't forget we're mining NMC too.  Also, if multiple users are donating a little power, one user dropping out shouldn't have a huge impact.

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              January 06, 2012, 07:40:46 PM

              you should take some MergedMining shares for free, sweat equity. I thought you took some shares for yourself when registering the company?
              I purchased the shares I own on the open market, just like everyone else.  It's nice to have some "skin in the game."

              This might be a longshot, but I thought I would make the option available in the event shareholders wanted to unite their hashing power to increase company profits...

              If you would like to donate hashing power to MergedMining, you can now point your miner to our Public worker. 

              Pool URL: http://api.bitcoin.cz:8332
              Login: OgNasty.Public
              Password: Donate
              In case anyone missed it.  Yes, that is a big "if" but as I type this our Public Worker is getting 1,175mh/s.  Thanks slush!

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              January 07, 2012, 04:12:33 PM

              A dividend of 5.457 BTC has been paid.


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              January 08, 2012, 10:21:37 PM

              wow, 3.07 Ghash :-)

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              January 09, 2012, 10:15:18 PM

              wow, 3.07 Ghash :-)

              Thanks again for the contribution slush!  It was great seeing our hash speed double over the last few days because of donated hashes to our public worker.  A great way to help raise funds for more equipment purchases without having to sell more company shares!

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              unthy
              Remember remember the 5th of November
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              January 10, 2012, 11:14:23 PM

              Can you explain to me how all this works? I am totally new. Never used GLBSE(nor now how trading in that sphere works). So I would like a couple of pointers of how one can profit from this.

              BTC:1AiCRMxgf1ptVQwx6hDuKMu4f7F27QmJC2
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              January 10, 2012, 11:56:40 PM

              Can you explain to me how all this works? I am totally new. Never used GLBSE (nor know how trading in that sphere works). So I would like a couple of pointers of how one can profit from this.

              Speaking as simply as possible, it works like this.  You buy shares of the company using the GLBSE.  That makes you a part owner of the company.  You then get to vote on company motions as well as receive profits from the company in the form of dividends.  Dividends are credited to your account, and you can do whatever you'd like with them (withdraw, reinvest, spend, etc.).  There are two ways you can profit from owning shares on the GLBSE.  A) Dividends B) Buy low and sell high.

              For more information on how public companies work, I'll refer you to wikipedia.
              http://en.wikipedia.org/wiki/Public_company