It doesn't get over the fact you are operating physically somewhere. Bitcoin mining isnt a virtual operation
Our ASIC's are going to be operated by a BFL employee which we pay a fee for. So I'd imagine any business tax is for him to sort out. All we lot are is part owners of ASIC's and there is currently no taxes, regulations or laws on mining bitcoins. If a shareholder wanted to sell his/her share of ownership on a Open-Transaction server then that is up to them. If a potential investor wanted to issue an asset (maybe on Open-Transactions) to raise funding for entry to the cooperative then that is up to them. Although I think we are a very long way off anyone being able to raise additional investment for us on Open-Transaction servers.
As the only way I got paid for running the outfit was by 5% of share issues and that can't happen for the foreseeable future plus now I will have a lot more work to do by arranging dividend payments by hand and sorting any voting out. Then a new way of paying for this new administration work must be sorted out. I put forward this idea -
2% of profits to be paid to the "CEO"/Director
1% of profits to the Treasury
1% of profits to the Accountant
1% of profits to the Secretary
While we initially go through this change I think I should take all the roles until we have a stable outfit. Although what I would initially like to offer out is the secretary role. That person will have to create a private(password) IRC channel for voting and/or count email votes and work out there weighting. The next role to be offered will be the accountants role to work out our accounts and dividends. Then the Treasury maybe if we could find someone else trustworthy enough to manage the wallet and pay out dividends. Finally if I ever run out of time/effort/energy which I doubt for a long long time yet then I could stand down as "CEO"/Director" or take a lesser Directors role. Say with a split with someone else for the 2% salary.
I'm not going to ask for any payment initally and will do all four roles for free to start us off. Although once we have all three 60(GH/s)ASIC's and are saving towards our fourth I think I should start getting paid for this new extra admin work. The only other way I could continue with all this extra admin work without being paid a percentage of profits is to be paid in an increase in share ownership.
Yes I'm also upset the GLBSE got shut down as I was very soon about to receive a 28 share payment. Of which I earned around almost twenty shares so far by the selling of newly issued shares.
Another job for the four admin roles above could be through raising additional funding for us to purchase new ASIC's. As we are saving 50% of profits to purchase new hardware the full price of an ASIC need not be raised for someone to enter the or increase there share of the cooperative. Although this could be quite complicated now? Maybe I could put forward an idea where individual shareholders agree to a smaller dividend with the subtractions being saved up to help faster purchase new ASIC's. With there share ownership increasing. Although this could be quite complicated as I don't have a accounting degree and even looks like it could involve calculus
All should we stop any new investment and just stick to our 50% growth plan. Which is probably for a vote to hold although I can't see any easy way anyone could invest at the moment unless it was by giving/buying us ASIC's.
Also the 50% growth plan may have to change in future depending on how fast our (MH/s)per share is growing against the growth in the ratio against the growth in network difficulty. As if our (MH/s) per share doesn't grow faster than the long term growth in network difficulty then we would in fact be running at a loss. Which we'd soon see through decreasing instead of increasing profits and dividends.
So if we noticed profits and dividends decreasing on the long term then we would have to bump up the 50% growth to a higher percentage. Which would see an even bigger decrease in dividends in the short term until it started to rebound after us buying new ASIC's even faster.
