[GLBSE] MergedMining BTC/NMC Mining Company

[OgNasty]

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:

[1714066585]

1714066585

[1714066585]

1714066585

[1714066585]

1714066585

[likuidxd]

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

[slush]

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.

[OgNasty]

The first dividend of 1 BTC has been paid.  

[molecular]

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?

[molecular]

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?

[OgNasty]

The second dividend of 1 BTC has been paid.

[molecular]

The second dividend of 1BTC has been paid.

[OgNasty]

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.

[molecular]

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

[OgNasty]

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.

[molecular]

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.

[Eveofwar]

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

It's definitely a great base for tracking I'd say.

[OgNasty]

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.

[molecular]

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.

[OgNasty]

The third dividend of 1 BTC has been paid.

[OgNasty]

Nice 

hopefully in 2 weeks you can increase the dividends

Sounds like a good plan.

[OgNasty]

Happy Thanksgiving!

A 1 BTC Thanksgiving Dividend has been paid.

[molecular]

Happy Thanksgiving!

A 1BTC Thanksgiving Dividend has been paid.

yay!

[OgNasty]

The fifth dividend of 1 BTC has been paid.