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Author Topic: (ANN) I will form a mining company to be traded on (GLBSE) if there is interest!  (Read 1791 times)
El Cabron
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October 24, 2011, 08:03:31 AM
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Hello everyone, In the next few weeks I would like to list a mining company on GLBSE and would like all of your ideas and input.

First, about myself, I dual majored in Computer Engineering and International Business Administration. I am an American who has lived and worked in Thailand for the last 7 years. I currently have a mining operation going and it has been running for 3 months. I love bitcoin and I love business so doing this is very exciting for me however, I want to do it right so I want all of your input.

Since I own all of the hardware that is currently mining what I would do is create shares roughly based on the number of Mhash/S (approximately 9000). I will then sell the shares based on the cost of the hardware per Mhash/S. (Total Cost/Mhash/S). I am only looking to sell about 30% and will use this money to expand or to invest in bitcoin.

I will then send out weekly the profit to share holders. (Total bitcoins earned/9000 times your number of shares owned)

Because the company has hard assists there will always be a floor to the value that the stock can fall in terms of the dollar. Since you are buying a percent of real goods the value will never go below the value of the real goods. Due to this, I will always be willing to personally buy back stock at 90% the value of the hardware, I might be willing to do it for more than 90% too. This will limit your risk in terms of Dollars. For example, If you buy 1 share at 1BTC and then BTC goes down in terms of US dollars 75% overnight I will give you at least 3.6 bitcoins for the share that you bought from me at 1BTC. I will always buy back at this rate so this will significantly reduce your risk in terms of dollars.

If bitcoin does really well then you will be able to collect the weekly dividends while still holding onto the value of the hard assets. This is a very good hedge for people who will be holding bitcoin, If you are just going to hold bitcoin anyway, why not get a return or protection from the value going down?


This is the list of the assets on hand

GPU
2x 5770     (240w)   (360mhs)
7x 5830     (980w)   (2310mhs)
16x 5850      (2500w)  (5760mhs)
1x 5970     (300w)    (800mhs)

PSU
1x 650w
4x 700w
1x 800w
2x 850w

all 80+ or better


CPU
1x 555
5x 955
2x i3 2120


Motherboard

2x msi p67a-gd80   (3x 16pci 2x 1pci)
4x msi 870a-g46   (2x 16pci 1x 1pci)
1x asus m4a79xtd evo  (2x 16pci 2x 1pci)
1x giabyte ga880ga-ud3h  (2x 16pci 2x 1pci)

I have extender cables.

I have large CM HAF-912 cases with lots of fans for the computers as well.

I have APC brand UPSs to protect from lightning/surge.

I have 8x 1 TB HDDs


If for whatever reason bitcoin brakes I will sell the hardware and buyback your shares.


Also I am working on a way to be able to keep two 6990's that I have on hand.


If there is serious interest in this I will identify myself and prove to you that I have what I have and will do what I say. Please, all comments welcome!





Sorry El Cabron, you are banned from posting or sending personal messages on this forum.
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https://bitcointalk.org/index.php?topic=622250.msg7030081#msg7030081
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brendio
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October 24, 2011, 10:30:11 AM
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What will be your remuneration?

What is your cost of electricity?

How stable is the electricity supply in Thailand?


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October 26, 2011, 05:04:09 PM
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The electric is currently 13.39 US cents per KwH after all taxes are paid.
That sounds like an expensive place to run a mining company.

Buy & Hold
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November 09, 2011, 03:08:11 AM
 #4

What is the status of this proposal?  It sounds interesting...

BTC: 1CDCLDBHbAzHyYUkk1wYHPYmrtDZNhk8zf
LTC: LMS7SqZJnqzxo76iDSEua33WCyYZdjaQoE
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November 14, 2011, 03:01:12 PM
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Bonds available now supported by this operation.

https://bitcointalk.org/index.php?topic=51832

sadpandatech
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November 16, 2011, 03:56:00 AM
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 Good to see you are continuing your project.  One error noted; You neglected to list your combined total (hash) for the 2x 6990. It states (800) now.

  Cheers

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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November 16, 2011, 04:41:53 PM
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Let me know when shares of this are available. I'm keen to purchase some.

Phil
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