[GLBSE] MergedMining BTC/NMC Mining Company

[slush]

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...

[chmod755]

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.

[chmod755]

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  

Unless you mean: release them to buy more hardware!

[OgNasty]

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  

+1

[sadpandatech]

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  

+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...

[OgNasty]

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.

[naypalm]

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. 

[OgNasty]

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.

[Eveofwar]

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.

[weex]

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.

[OgNasty]

* 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.

[OgNasty]

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

[Eveofwar]

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.

[slush]

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.

[slush]

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.

[Eveofwar]

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 ?

[slush]

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 :-)

[Eveofwar]

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.

[slush]

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.

[OgNasty]

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.  

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.