[796.com] RedStarMining.com - the oldest public mining security [15.0(TH/s)]

[matthewh3]

On another note as we have a large amount of bitcoins that is only going to grow in amount I'm going to purchase a Yubikey to secure our wallet.  They only cost $25 - https://store.yubico.com/store/catalog/product_info.php?products_id=3 - and don't worry our coins are not held on MtGox but on blockchain.info hybrid wallet.  So they don't have access to our wallet and copy is also kept and updated to my 'Google Drive'.

Purchased in exchange for 2.4 bitcoins, payment on delivery to 1ECJKKXYiUKjPwFW4BRBKKjiSnjutkZDXe

Thanks.

[1714290337]

1714290337

[1714290337]

1714290337

[matthewh3]

On another note as we have a large amount of bitcoins that is only going to grow in amount I'm going to purchase a Yubikey to secure our wallet.  They only cost $25 - https://store.yubico.com/store/catalog/product_info.php?products_id=3 - and don't worry our coins are not held on MtGox but on blockchain.info hybrid wallet.  So they don't have access to our wallet and copy is also kept and updated to my 'Google Drive'.

Purchased in exchange for 2.4 bitcoins, payment on delivery to 1ECJKKXYiUKjPwFW4BRBKKjiSnjutkZDXe

Paid BTC2.4 to - 1ECJKKXYiUKjPwFW4BRBKKjiSnjutkZDXe - https://blockchain.info/tx/212bdd953b953cbbf7b9cadcaa9c91ea22c49b32124779e82e680de2e114e7eb

Our wallet is now protected with a Yubikey  

[matthewh3]

Hi I think coloured coins may be still to a immature project for us to use.  I was thinking maybe we could set up our own OT server.  Which could also be on I2p and Tor so people can trade anonymously.  Also I could get a website set up for us and offer a brokerage service for people who don't want or can't use OT.  We could also use the website to attract new investment.

Any views?

[matthewh3]

"Jelibaby" a shareholder from the start has offered to build and maintain a website for us that we can attract new investment for us,  She has also offered to work out our motions and do other general admin work.  So I'm going to offer her the admin job at 1% salary.  Tho please remeber salaries will not start being paid until the month after we have received our third pre-ordered ASIC.

[jEli_bAby]

"Jelibaby" a shareholder from the start has offered to build and maintain a website for us that we can attract new investment for us,  She has also offered to work out our motions and do other general admin work.  So I'm going to offer her the admin job at 1% salary.  Tho please remeber salaries will not start being paid until the month after we have received our third pre-ordered ASIC.

I'll think about the job offer and I may also be able to set up a brokerage site for RSM to raise investment. People can then buy and sell their shares there without using 'coloured coins'/OT. I'm not sure on the fees to run a brokerage for you yet but its something I could look into.

Regards.

[matthewh3]

"Jelibaby" a shareholder from the start has offered to build and maintain a website for us that we can attract new investment for us,  She has also offered to work out our motions and do other general admin work.  So I'm going to offer her the admin job at 1% salary.  Tho please remeber salaries will not start being paid until the month after we have received our third pre-ordered ASIC.

I'll think about the job offer and I may also be able to set up a brokerage site for RSM to raise investment. People can then buy and sell their shares there without using 'coloured coins'/OT. I'm not sure on the fees to run a brokerage for you yet but its something I could look into.

Regards.

OK, your right I'm sure a lot of people won't/can't be bothered to use 'coloured coins' or OT depending on what we use.  If you can offer low enough fees to new investors this could be beneficial to RSM.  As you may be helping to bring in new investment I'll offer you a cut of my 5% salary of new share issues as a start but you'll make most of your coin from brokerage I suppose.

[jEli_bAby]

"Jelibaby" a shareholder from the start has offered to build and maintain a website for us that we can attract new investment for us,  She has also offered to work out our motions and do other general admin work.  So I'm going to offer her the admin job at 1% salary.  Tho please remeber salaries will not start being paid until the month after we have received our third pre-ordered ASIC.

I'll think about the job offer and I may also be able to set up a brokerage site for RSM to raise investment. People can then buy and sell their shares there without using 'coloured coins'/OT. I'm not sure on the fees to run a brokerage for you yet but its something I could look into.

Regards.

OK, your right I'm sure a lot of people won't/can't be bothered to use 'coloured coins' or OT depending on what we use.  If you can offer low enough fees to new investors this could be beneficial to RSM.  As you may be helping to bring in new investment I'll offer you a cut of my 5% salary of new share issues as a start but you'll make most of your coin from brokerage I suppose.

Excellent.

[matthewh3]

"Jelibaby" a shareholder from the start has offered to build and maintain a website for us that we can attract new investment for us,  She has also offered to work out our motions and do other general admin work.  So I'm going to offer her the admin job at 1% salary.  Tho please remeber salaries will not start being paid until the month after we have received our third pre-ordered ASIC.

I'll think about the job offer and I may also be able to set up a brokerage site for RSM to raise investment. People can then buy and sell their shares there without using 'coloured coins'/OT. I'm not sure on the fees to run a brokerage for you yet but its something I could look into.

Regards.

OK, your right I'm sure a lot of people won't/can't be bothered to use 'coloured coins' or OT depending on what we use.  If you can offer low enough fees to new investors this could be beneficial to RSM.  As you may be helping to bring in new investment I'll offer you a cut of my 5% salary of new share issues as a start but you'll make most of your coin from brokerage I suppose.

Excellent.

May I remind you the salary for the admin is up to review by all shareholders.  I know you've been with us since before the IPO but you are a minor shareholder.  Also the offer to provide shareholders who can't or don't want to use 'coloured coins' or a Open-Transaction server is a good idea but it doesn't look like any new shares will be created until into next year and then only after a motion.  We did offer to save 5% of dividends to buy back shares from holders who now wanted to get out of RSM after the GLBSE closure.  As our admin that is now your job to arrange but now one has contacted me about it yet.

[matthewh3]

Summary

Total hardware and wallet assets = ~$4,022+~BTC44.49898951 | Total shares distributed ~2,344

GLBSE page - https://glbse.com/asset/view/RSM

CoinConnect Social Network Group - http://www.coinconnect.org/groups/profile/13713/red-star-mining

RSM blog - http://redstarmining.blogspot.co.uk/

Accounts Spreadsheet - https://docs.google.com/spreadsheet/ccc?key=0Ap02rO_j4NLvdDB2cFRTS0ctVGRHRE5yQ2RfNUZFcUE#gid=0 - https://docs.google.com/spreadsheet/ccc?key=0AolvfZ07D-3SdHBuaGcxRUw3SEkwTzUyVXVqUzRPZFE&pli=1#gid=0

Chatroom http://webchat.freenode.net/  channel:RSM

As RSM has had enough investment to pay for 180(GH/s) of ASIC's and we will soon have all shareholders details.  Then I'm probably going to turn RSM into a private investors club.  I'll set up a spreadsheet to calculate everyone's dividends and once they reach a threshold of say at least BTC1.00 they will payout to your chosen wallet address.  RSM will still save 50% of profits for growth but will now save 5% of profits to buy back holders shares at BTC0.41 (tho that price is not set in stone yet) so everyone who has invested and wants to now get out and profit can do so.  We will also let people join the private miners Co-OP investment club for a reasonable price.  We are was looking on using coloured coins - (https://bitcointalk.org/index.php?topic=117630.0) - to prove ownership of shares and to pay dividends but the projects are all still very early alphas.  So we are now thinking of using a Open-Transaction server for the asset - (https://github.com/FellowTraveler/Open-Transactions/wiki) - https://github.com/FellowTraveler/Moneychanger/wiki

Using Open-Transactions is not that plain newbie simple at the moment.  So our Admin Officer "jEli_bAby" is going to offer a brokerage service for people who don't want to use the OT software.  She will have a copy of my master shareholder list of people who want to use her service and forward your dividends on to a wallet address of your choice.  "jeli_bAby" can also arrange the buyback of your shares at BTC0.41 per share (before any brokerage fees) if you now we to sell your holdings.  If we ever issue new shares again you will also be able to buy them through her as well as on the OT server.  Her email for any questions is - melicat23@hotmail.co.uk

I've now updated the OP.

[matthewh3]

Summary

Total hardware and wallet assets = ~$4,022+~BTC44.49898951 | Total shares distributed ~2,344

GLBSE page - https://glbse.com/asset/view/RSM

CoinConnect Social Network Group - http://www.coinconnect.org/groups/profile/13713/red-star-mining

RSM blog - http://redstarmining.blogspot.co.uk/

Accounts Spreadsheet - https://docs.google.com/spreadsheet/ccc?key=0Ap02rO_j4NLvdDB2cFRTS0ctVGRHRE5yQ2RfNUZFcUE#gid=0 - https://docs.google.com/spreadsheet/ccc?key=0AolvfZ07D-3SdHBuaGcxRUw3SEkwTzUyVXVqUzRPZFE&pli=1#gid=0

Chatroom http://webchat.freenode.net/  channel:RSM

As RSM has had enough investment to pay for 180(GH/s) of ASIC's and we will soon have all shareholders details.  Then I'm probably going to turn RSM into a private investors club.  I'll set up a spreadsheet to calculate everyone's dividends and once they reach a threshold of say at least BTC1.00 they will payout to your chosen wallet address.  RSM will still save 50% of profits for growth but will now save 5% of profits to buy back holders shares at BTC0.41 (tho that price is not set in stone yet) so everyone who has invested and wants to now get out and profit can do so.  We will also let people join the private miners Co-OP investment club for a reasonable price.  We are was looking on using coloured coins - (https://bitcointalk.org/index.php?topic=117630.0) - to prove ownership of shares and to pay dividends but the projects are all still very early alphas.  So we are now thinking of using a Open-Transaction server for the asset - (https://github.com/FellowTraveler/Open-Transactions/wiki) - https://github.com/FellowTraveler/Moneychanger/wiki

Using Open-Transactions is not that plain newbie simple at the moment.  So our Admin Officer "jEli_bAby" is going to offer a brokerage service for people who don't want to use the OT software.  She will have a copy of my master shareholder list of people who want to use her service and forward your dividends on to a wallet address of your choice.  "jeli_bAby" can also arrange the buyback of your shares at BTC0.41 per share (before any brokerage fees) if you now we to sell your holdings.  If we ever issue new shares again you will also be able to buy them through her as well as on the OT server.  Her email for any questions is - melicat23@hotmail.co.uk - There will be a fee on arranging dividend payments for shareholders who use the brokerage service by "jeli_bAby" so maybe you want to contact her to work that out.  For shareholders who use the OT software to manage there own shares things will be like normal.

We are still looking at moving onto coloured coins, but all the projects are very early alphas and just as difficult to use as a OT server, but with a OT server the trading of shares and dividends automatically following them is auto.  Unlike 'coloured coins', so this will enable the anonymous trading of shares without me have to update dividend payment addresses.

OP updated again.

[matthewh3]

Just spent about three hours trying to install OT from Git and the learning curve just to use it is immense.  So it will probably be simpler to use 'Coloured Coin' but the reason I wanted to try OT was because it would have enabled shareholders to trade there own shares.  You see with 'Coloured Coins' I have to know each coins dividend address.  If you want to trade your shares you've got to change the dividend payment address.  So you why I wanted to use OT maybe we should support this - [BOUNTY] 185+ BTC - Open Transactions Client (for Grandmas) - https://bitcointalk.org/index.php?topic=105506.0

A dev has started a thread on a -    
stock exchange based on colored coins - https://bitcointalk.org/index.php?topic=118672.msg1274632#msg1274632 - but it's a very long way off.  So it looks like our only way to increase profits after the ASIC's delivery is through reinvestment.  That's why after we have received our third ASIC and paid its first months dividend I'll be pushing on upping the reinvestment fund up to maybe 90% of profits depending on how fast it looks set for us to grow.  As I've stated after we've saved the rest up for the fourth ASIC that will increase turnover by around ~25%.  Also after we have saved up enough for the fifth ASIC that will increase turnover by a little less but still around 25%.  As for increasing the reinvestment fund I'd rather have a smaller dividend that is growing fast then a larger dividend which is slowly shrinking due to our hashrate not growing faster than the growth in network hashrate/difficulty.  I hope you can all see the logic in that.

[matthewh3]

What's investors views on us investing BTC10.00 of our wallet then 5% of dividends in - http://pyramining.com/ - to broaden our portfolio?

[matthewh3]

What's investors views on us investing BTC10.00 of our wallet then 5% of dividends in - http://pyramining.com/ - to broaden our portfolio?

I've invested BTC0.20001111 of RSM's wallet into Pyraming - http://pyramining.com/ - if the majority of investors agree I'll pay BTC9.79998889 to our Pyraming BTC wallet address - 1RsRSss66dbgpNmgSaF68YvaT35ev54S8 - to make our investment BTC10.00  By sending BTC0.20001111 we have created a Pyraming donation wallet address people can donate too and two referral links (below) people can join that'll profit RSM.

RSM's Pyraming - http://pyramining.com/faq#howdoesitwork - wallet donation address - 1RsRSss66dbgpNmgSaF68YvaT35ev54S8 - RSM Pyramining referral links - http://pyramining.com/referral/kyrhdepq9 - and - http://pyramining.com/referral/mrga6kts8 - all donations and referrals will benefit RSM financially.

[matthewh3]

What's investors views on us investing BTC10.00 of our wallet then 5% of dividends in - http://pyramining.com/ - to broaden our portfolio?

I've invested BTC0.20001111 of RSM's wallet into Pyraming - http://pyramining.com/ - if the majority of investors agree I'll pay BTC9.79998889 to our Pyraming BTC wallet address - 1RsRSss66dbgpNmgSaF68YvaT35ev54S8 - to make our investment BTC10.00  By sending BTC0.20001111 we have created a Pyraming donation wallet address people can donate too and two referral links (below) people can join that'll profit RSM.

RSM's Pyraming - http://pyramining.com/faq#howdoesitwork - wallet donation address - 1RsRSss66dbgpNmgSaF68YvaT35ev54S8 - RSM Pyramining referral links - http://pyramining.com/referral/kyrhdepq9 - and - http://pyramining.com/referral/mrga6kts8 - all donations and referrals will benefit RSM financially.

Well unless there is a lot of weight against hedging our bets by investing BTC10.00 into Pyraming then'll go ahead and do it.  I encourage you all to donate any spare bitcents to our Pyraming investment wallet address - 1RsRSss66dbgpNmgSaF68YvaT35ev54S8 - Or if you are thinking of investing into Pyraming then use our referral links - http://pyramining.com/referral/kyrhdepq9 - and - http://pyramining.com/referral/mrga6kts8 - all donations and referrals will benefit RSM financially.

[matthewh3]

no motions no vote ?

Our 'spreadsheeter' brought this application to my attention - http://loomio.org/ - it seems that'd be very good for us to hold motions and stuff.  At the moment all I can do is try to judge general consensus.  Every one has had to trust me for the last ten months to get us where we are.  I've never had an idea of mine voted out.  So I feel the only real need for motions are on real major decisions for RSM not just general running and investments.

[matthewh3]

i invested to get dividends , not to put into pyramining or other things

I started this company and bought over 250 shares in it out of my own pocket to make bitcoins.  I'd rather have BTC500.00 of dividends over ten years then BTC100 in one year then were bankrupt.  If you don't like our plans to make bitcoin then we are offering to buyback anyones shares for BTC0.41 each first come first served.

[matthewh3]

i invested to get dividends , not to put into pyramining or other things

I started this company and bought over 250 shares in it out of my own pocket to make bitcoins.  I'd rather have BTC500.00 of dividends over ten years then BTC100 in one year then were bankrupt.  If you don't like our plans to make bitcoin then we are offering to buyback anyones shares for BTC0.41 each first come first served.

We currently have the funds to buy back about 100 shares at BTC0.41 then any more would be bought out of mining profits.  The amount set aside from profits to buy back shares would depend on demand but would be no more than 40% of mining profits.  First come first served in the buy back.

[matthewh3]

i invested to get dividends , not to put into pyramining or other things

I started this company and bought over 250 shares in it out of my own pocket to make bitcoins.  I'd rather have BTC500.00 of dividends over ten years then BTC100 in one year then were bankrupt.  If you don't like our plans to make bitcoin then we are offering to buyback anyones shares for BTC0.41 each first come first served.

We currently have the funds to buy back about 100 shares at BTC0.41 then any more would be bought out of mining profits.  The amount set aside from profits to buy back shares would depend on demand but would be no more than 40% of mining profits.  First come first served in the buy back.

If you are only interested in short term profits then you should know we will be reinvesting 50% of profits into more ASIC hardware.  You should also know that after we have received our third ASIC pre-order that'll be putting forward the motion to save and reinvest up to 90% of profits into new ASIC hardware.  If anyone is only interested in short term gains then maybe they should consider our offer to buy back shares at BTC0.41 each.  This offer is first come first served.

[matthewh3]

i invested to get dividends , not to put into pyramining or other things

I started this company and bought over 250 shares in it out of my own pocket to make bitcoins.  I'd rather have BTC500.00 of dividends over ten years then BTC100 in one year then were bankrupt.  If you don't like our plans to make bitcoin then we are offering to buyback anyones shares for BTC0.41 each first come first served.

We currently have the funds to buy back about 100 shares at BTC0.41 then any more would be bought out of mining profits.  The amount set aside from profits to buy back shares would depend on demand but would be no more than 40% of mining profits.  First come first served in the buy back.

If you are only interested in short term profits then you should know we will be reinvesting 50% of profits into more ASIC hardware.  You should also know that after we have received our third ASIC pre-order that'll be putting forward the motion to save and reinvest up to 90% of profits into new ASIC hardware.  If anyone is only interested in short term gains then maybe they should consider our offer to buy back shares at BTC0.41 each.  This offer is first come first served.

I've just received our first request to buy back 70 shares at BTC0.41 this will be completed after we have received the records from the GLBSE.  All other shareholders should know all shares that are bought back are basically destroyed so any remaining shares increase in value.  For anyone else thinking of selling back there investment then it'll be done on a first come first served basis.  So if you want to sell out then get your requests in as we only have a ~BTC40.00 wallet.  Any more buybacks will be taken from mining profits.

[matthewh3]

Our BTC0.10 Pyramining FPGA investment bought us 960.9(KH/s) of mining power and now has made us BTC0.00014743 within 24hrs.  Our BTC0.10 ASIC investment will buy us 69(MH/s) of hashing power once there available.  We only get to keep this hashing power until we've been paid back our initial deposit plus a bonus.  If you want to donate any bitcents to our Pyramining account - 1RsRSss66dbgpNmgSaF68YvaT35ev54S8 - your deposit has to end BTCx.xxxx1111 for the last four decimals to go towards ASIC's.  All other deposits will go into current hardware and start paying out straight away.  If you want to join Pyramining your self then please use one of our referral links - http://pyramining.com/referral/kyrhdepq9 - and - http://pyramining.com/referral/mrga6kts8 - all donations and referrals will benefit RSM financially.

Once we have received our ASIC pre-orders we will be paying 3% of dividends into our Pyramining account.  100% of the money paid into our Pyraming account from dividends will be repaid into dividends with us keeping the bonus to go towards our growth fund.  So please use our referral links and increase our bounus. 

As you can see all funds deducted from dividends to pay into Pyramining will be repaid back out into dividends and with us just keeping the bonus for reinvestment.  That the idea is not actually reducing dividends but is increasing our ASIC reinvestment.  That it makes sense to slowly increase our 3% invested into Pyramining as the payments come in.  As even if we paid in 100% of dividends that we could still pay a full dividend to our shareholders.  Only we'd be getting a bonus of a value of 10% (currently[use our referral links to increase our bonus percentage]) of the amount of the dividend payment fund.

Anyone can login to our Pyramining account and see where were up to by logining in with our Pyramining payment address - 1RsRSss66dbgpNmgSaF68YvaT35ev54S8 - so please donate and/or use our referral links to increase our profits.