[GLBSE] MergedMining BTC/NMC Mining Company

[OgNasty]

Coola boola, could you explain to this chap why split fees wont really work on a stock exchange (or explain to me why they will).

I don't want to get too far off the topic of MergedMining, but my personal opinion on this (I really don't care much either way) is that the fee should only be charged to 1 party, but not limited to 1 side of the trade.  The person providing the liquidity should be able to make their trade for free.  For example, if I put up a buy order at .15 and a sell order at .16, but the stock is actively trading at .155, I should not have to pay fees when my orders are filled.  The person who chooses to fill the order (buy at .16 or sell at .15) should pay the fee.  This would encourage more open orders and improve liquidity.  Just placing the fee on one side or the other seems to encourage holding or discourage trading, while free trades for providing liquidity would encourage more people to list orders, thereby encouraging more trading.  It would also allow companies to list their IPO without being victim to double dipping (charging to create the asset and then charging to sell the asset).

[1714611863]

1714611863

[DeaDTerra]

Coola boola, could you explain to this chap why split fees wont really work on a stock exchange (or explain to me why they will).

I don't want to get too far off the topic of MergedMining, but my personal opinion on this (I really don't care much either way) is that the fee should only be charged to 1 party, but not limited to 1 side of the trade.  The person providing the liquidity should be able to make their trade for free.  For example, if I put up a buy order at .15 and a sell order at .16, but the stock is actively trading at .155, I should not have to pay fees when my orders are filled.  The person who chooses to fill the order (buy at .16 or sell at .15) should pay the fee.  This would encourage more open orders and improve liquidity.  Just placing the fee on one side or the other seems to encourage holding or discourage trading, while free trades for providing liquidity would encourage more people to list orders, thereby encouraging more trading.  It would also allow companies to list their IPO without being victim to double dipping (charging to create the asset and then charging to sell the asset).

I agree with this, it seems like a smarter and better solution to make the liquidity taker pay the fee instead of the liquidity provider. I also like the idea with reduced fees for larger volume traders. Btw really good job so far Nefario and I don't think anyone meant to gang up one you more give feedback and try to reach the best solution

//DeaDTerra

[molecular]

Feels like you're ganging up on me, anyway I'll drop the dividend fee for the time being, if at a later time I want to reintroduce it we'll have a discussion first.

I apologize.  I was merely acting to protect the income I have promised my shareholders.  Thank you Nefario, for your continued efforts.  We all appreciate it.

Coola boola, could you explain to this chap why split fees wont really work on a stock exchange (or explain to me why they will).

I can see that you can clearly not withhold x% of the shares from the buyer, but why withhold 0.5% from the money passed to the seller (as you plan to do now) and simply deduct the other 0.5% from the buyers balance? Of course this would mean having to check the buyers balance for sufficient funds for the fee and that might complicate things a lot.

On another note I think it really doesn't matter who pays the fee. Prices will just reflect that: as a seller, I know I pay 1% fee so I can make my price a little higher to adjust for that and "make the buyer pay the fee" (or half the fee or whatever, the market will do that for us). So my suggestion to nefario is: do it as planned, have the seller pay the full fee.

[OgNasty]

A dividend of 6.22 BTC has been paid.

[Nefario]

A dividend of 6.22 BTC has been paid.

Whats the search term you use to find these pics in Google?

On a slightly related note, GLBSE 1.0 will be going down in about an hour, staying down for another hour and coming back up as 2.0 launches.

Nefario.

[OgNasty]

Whats the search term you use to find these pics in Google?

That information is strictly classified.

[Nefario]

Whats the search term you use to find these pics in Google?

That information is strictly classified.

GLBSE2.0 is here.

[OgNasty]

have you transferred to 2.0 MM ?

Yes.

[OgNasty]

A dividend of 6.233 BTC has been paid.

[stochastic]

A dividend of 6.233 BTC has been paid.

Could you post the gross income generated by the mining operation as well as the expenses before dividends were paid out?  Thanks in advance.

[OgNasty]

Could you post the gross income generated by the mining operation as well as the expenses before dividends were paid out?  Thanks in advance.

No.  More automated metrics will be coming soon along with some other great advances as I implement the MergedMining 2.0 plan.

[stochastic]

Could you post the gross income generated by the mining operation as well as the expenses before dividends were paid out?  Thanks in advance.

No.  More automated metrics will be coming soon along with some other great advances as I implement the MergedMining 2.0 plan.

Will the gross income and expenses will be part of the automated metrics?

[OgNasty]

Could you post the gross income generated by the mining operation as well as the expenses before dividends were paid out?  Thanks in advance.

No.  More automated metrics will be coming soon along with some other great advances as I implement the MergedMining 2.0 plan.

Will the gross income and expenses will be part of the automated metrics?

I'm still having a lot of work done on the script I will be using, so it is difficult to say what will be possible at this point. Expenses (electricity) will be difficult to display, although if investors were dead set on having this information, a webcam and image recognition script could be implemented.  That goes beyond my abilities and would cost some money though.  Not really worth the expense for such a small operation in my opinion.

[stochastic]

Could you post the gross income generated by the mining operation as well as the expenses before dividends were paid out?  Thanks in advance.

No.  More automated metrics will be coming soon along with some other great advances as I implement the MergedMining 2.0 plan.

Will the gross income and expenses will be part of the automated metrics?

I'm still having a lot of work done on the script I will be using, so it is difficult to say what will be possible at this point. Expenses (electricity) will be difficult to display, although if investors were dead set on having this information, a webcam and image recognition script could be implemented.  That goes beyond my abilities and would cost some money though.  Not really worth the expense for such a small operation in my opinion.

The image recognition and a webcam would be overboard.  I assume you already keep books on the expenses of MergedMining.  Also, since you have a Kill A Watt Electricity Meter that keeps track of the amount of electricity the mining rigs are using and you posted the electricity rate, it would be possible to see the electricity expense.

[OgNasty]

I assume you already keep books on the expenses of MergedMining.

That would be an incorrect assumption.

[stochastic]

I assume you already keep books on the expenses of MergedMining.

That would be an incorrect assumption.

Then how do you calculate expenses and know that the company is profitable?

1) All utility/equipment costs and BTC/NMC fees associated with the mining and sale of NMC & BTC produced by the mining operation will be paid before dividends

How about a motion to keep books on the company?

[OgNasty]

Then how do you calculate expenses and know that the company is profitable?

I update the amounts in the OP each time BTC/NMC is sold or an expense is paid.  I know the company is profitable because I did the math.

How about a motion to keep books on the company?

As I have stated several times on this thread, I am not interested in being a bookkeeper.  Small investors + public books = a pain in the ass.  I prefer the "set it and forget it" approach, which is why I stay away from the manually updated info as much as possible.  If Nefario implemented a way for me to display our current BTC balance and dividend payments on this forum, I wouldn't even be updating the OP.  I think for a guy (or girl?) that runs this company FOR FREE, I am doing an ok job.

I also suggest you take any manually updated information on any of the available GLBSE investments with a grain of salt.

[Nefario]

GLBSE has been updated to allow account recovery/password reset via email.

Please make sure you're GLBSE accounts have good passwords and your email accounts are secure. If your email is compromised then so will your GLBSE account.

Nefario.

[OgNasty]

GLBSE has been updated to allow account recovery/password reset via email.

Please make sure you're GLBSE accounts have good passwords and your email accounts are secure. If your email is compromised then so will your GLBSE account.

Nefario.

Thank you for the heads up Nefario.  I created an alias email account for use with my GLBSE account that is used nowhere else on the net and have substantially increased the strength of the password due to your warning.

[OgNasty]

A dividend of 6.202 BTC has been paid.