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Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

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Author Topic: FPGA Mining Contract  (Read 36250 times)
fizzisist
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October 20, 2011, 05:36:30 PM
 #1

FPGA.contract is an FPGA only mining company. A small FPGA cluster will be built out of X6500s and operated by me. 100% of all revenue is distributed to shareholders as weekly dividends. Operating costs (electricity, maintenance, etc.) are covered by the dividends paid to the 500 shares held by the company (amounts to 8.3% of the 6000 total shares). No revenue is held for future expansion.

The official FPGA.contract website can be found at contract.fpgamining.com. You can check on the hash rate and see a graph of the total hashrate for the last 24 hours. It also pulls info from GLBSE including ticker, dividends, and motions. If you subscribe, you'll get an email when a new motion has been raised, which I think is very helpful because GLBSE itself has no way to do this. We'll also be posting updates there, so it would be a good idea to subscribe if you're a shareholder.

Links:
FPGA.contract Page
FPGAMining.com
X6500 FPGA Miner Thread
Asset on GLBSE

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zapeta
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October 21, 2011, 01:32:36 AM
 #2

Just purchased my shares.  Can't wait for this to fully take off.
m3sSh3aD
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October 21, 2011, 09:03:02 AM
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How much are shares and where do you apply?
fizzisist
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October 21, 2011, 10:11:02 AM
 #4

How much are shares and where do you apply?

Should have included the share price in the first post. Added it now.

To buy shares, you need to create an account at glbse.com and deposit BTC. Then use the asset ID FPGA.contract (case sensitive, I believe).

Creating an account at GLBSE is a bit different than most sites. Your browser stores the account information client side, so the password you enter will only serve to keep people out of the account if they have access to your computer. To access your account on a different machine, you will need to export your public and private key and import it on the second machine. I remember seeing a guide on this before but can't seem to find it now.

Dexter770221
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October 21, 2011, 09:18:26 PM
 #5

I'm waiting for a first dividends, then maybe I will buy more shares. Since mining is no longer profitable to me, I'm considering to convert earned BTC into shares, so maybe i will lose less Wink Or everything if this is some sort of scam...

Under development Modular UPGRADEABLE Miner (MUM). Looking for investors.
Changing one PCB with screwdriver and you have brand new miner in hand... Plug&Play, scalable from one module to thousands.
fizzisist
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October 21, 2011, 09:57:05 PM
 #6

It would be silly of me to run this as a scam, given that my real business is in making and selling FPGA boards. Why destroy my reputation to run off with a couple hundred BTC from the sales of these shares?

Although it certainly doesn't prove that this isn't a scam, here are some screenshots from the account at Asrbitcoin (until Eligius gets up and running again):





When dividends are made, any balance in the FPGA contract wallet will be distributed to shareholders. The first dividend will be this weekend.

Thanks for your investment!

zapeta
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October 21, 2011, 10:56:45 PM
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Just an idea, can we move the mining to nmcbit or some other similar pool that does PPS and merged mining until Eligius is back up?
Dexter770221
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October 22, 2011, 06:04:11 PM
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Wow, someone bought a significant amout of shares. You may now run few boards, not only one Wink

Under development Modular UPGRADEABLE Miner (MUM). Looking for investors.
Changing one PCB with screwdriver and you have brand new miner in hand... Plug&Play, scalable from one module to thousands.
zapeta
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October 22, 2011, 06:07:17 PM
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Wow, someone bought a significant amout of shares. You may now run few boards, not only one Wink

Wow indeed...there were 4400 or so shares outstanding last night, only 1686 now.
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October 22, 2011, 07:03:01 PM
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And it may be a reaction to info that you will pay first dividends this weekend. Then share holder will want to sell shares...
But since it is just a begining it maybe very difficult to achive reasonable profits...
So, alot of headroom for speculators and share price... But every stock exchange works that way, right? Freedom of choice, sell or buy, pay more or less...
Just a thought....

Under development Modular UPGRADEABLE Miner (MUM). Looking for investors.
Changing one PCB with screwdriver and you have brand new miner in hand... Plug&Play, scalable from one module to thousands.
fizzisist
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October 23, 2011, 07:43:11 AM
 #11

Dividends have been paid!

Despite not actually mining anywhere near full capacity (only one board right now) I decided to pay a bonus dividend as a thank you for the great positive reaction I've received from this. I paid a dividend of 9.59 BTC, which is the expected revenue for a full week of mining with the full system. Divided over the 4392 outstanding shares, the dividend per share was 0.00218351 BTC.

Dexter770221
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October 23, 2011, 09:38:56 AM
 #12

Dividends have been paid!

Indeed, I may only confirmed that...
So, its probably a good time to buy more shares Wink

Under development Modular UPGRADEABLE Miner (MUM). Looking for investors.
Changing one PCB with screwdriver and you have brand new miner in hand... Plug&Play, scalable from one module to thousands.
EskimoBob
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October 23, 2011, 03:17:02 PM
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What is the current cost per BTC in this adventure?

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
zapeta
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October 23, 2011, 03:19:54 PM
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What is the current cost per BTC in this adventure?

0.25 BTC per share.
m3sSh3aD
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October 23, 2011, 03:33:07 PM
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Im going buy 120 shares just for a punt. Just waiting for the BTC to be confirmed Smiley Worth a gamble Smiley
m3sSh3aD
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October 23, 2011, 03:52:44 PM
 #16

What is the current cost per BTC in this adventure?

0.25 BTC per share.

I put FPGA.contract as an asset, requested to but 120 shares at 30BTC and now its sitting in 'orders'

Do i need to do anything else?

THanks
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October 23, 2011, 04:06:55 PM
 #17

Dividends have been paid!

Despite not actually mining anywhere near full capacity (only one board right now) I decided to pay a bonus dividend as a thank you for the great positive reaction I've received from this. I paid a dividend of 9.59 BTC, which is the expected revenue for a full week of mining with the full system. Divided over the 4392 outstanding shares, the dividend per share was 0.00218351 BTC.

Bonus received, thanks. Do you plan to issue more shares to keep share price at a fixed 0.25 ?

If you don't own the private keys, you don't own the coins.
zapeta
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October 23, 2011, 04:52:00 PM
 #18

What is the current cost per BTC in this adventure?

0.25 BTC per share.

I put FPGA.contract as an asset, requested to but 120 shares at 30BTC and now its sitting in 'orders'

Do i need to do anything else?

THanks

If you go in to GLBSE and click Portfolio it will show you what you own.  Its the easiest way to see if your trade has executed.  I'm guessing it hasn't based on what you said.  In the buy screen, you'd want to put FPGA.contract as the asset, 120 shares, and the final line you put in the amount you are willing to pay per share, in this case 0.25.
fizzisist
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October 23, 2011, 05:07:47 PM
 #19

I put FPGA.contract as an asset, requested to but 120 shares at 30BTC and now its sitting in 'orders'

Do i need to do anything else?

If you go in to GLBSE and click Portfolio it will show you what you own.  Its the easiest way to see if your trade has executed.  I'm guessing it hasn't based on what you said.  In the buy screen, you'd want to put FPGA.contract as the asset, 120 shares, and the final line you put in the amount you are willing to pay per share, in this case 0.25.

Also, look out for the "short_btc" bug. It seems that if you place your order before your deposit is confirmed, or even too soon after it is confirmed, it will get stuck waiting for you to make a deposit even though the funds are there. If it says "short_btc" under "status" on the Orders page, just cancel it and place the order again.

Bonus received, thanks. Do you plan to issue more shares to keep share price at a fixed 0.25 ?

I won't issue more shares unless a motion passes by 2/3 majority, as required in the contract. If more shares are issued, it would be at the going market price, I suppose. Doesn't that make the most sense?

m3sSh3aD
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October 23, 2011, 05:13:04 PM
 #20

I put FPGA.contract as an asset, requested to but 120 shares at 30BTC and now its sitting in 'orders'

Do i need to do anything else?

If you go in to GLBSE and click Portfolio it will show you what you own.  Its the easiest way to see if your trade has executed.  I'm guessing it hasn't based on what you said.  In the buy screen, you'd want to put FPGA.contract as the asset, 120 shares, and the final line you put in the amount you are willing to pay per share, in this case 0.25.

Also, look out for the "short_btc" bug. It seems that if you place your order before your deposit is confirmed, or even too soon after it is confirmed, it will get stuck waiting for you to make a deposit even though the funds are there. If it says "short_btc" under "status" on the Orders page, just cancel it and place the order again.

Bonus received, thanks. Do you plan to issue more shares to keep share price at a fixed 0.25 ?

I won't issue more shares unless a motion passes by 2/3 majority, as required in the contract. If more shares are issued, it would be at the going market price, I suppose. Doesn't that make the most sense?

Cheers, i missed the 0.5 charge so was insufficent funds Smiley Waiting now and will purchase once its all ready. Hoping these will come into there own and its worth a bit of a gamble i think, I'd pay £250 for a 400 m'hash card so these arnt far from been worth while and the power saving will make that up (even if it will be about 2+ years at the current rate Smiley)

Thanks Wink
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