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Author Topic: [GLBSE] Help me define a new mining operation  (Read 2157 times)
amazingrando
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February 25, 2012, 06:56:10 AM
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Hi everyone-

I'm looking for your ideas about what would be nice to see in a new mining organization with features that get people excited to invest and be an investor - something interesting and lucrative.

Here is the short of it:
  • In terms of credentials, I've been an active forum member for a long time and currently run a ~40Gh mining farm (mostly on maxbtc.com) - [note: this farm won't be part of the new mining company]
  • I recently acquired 30 x 6990 GPUs in order to build a new ~18Gh farm
  • I am looking to raise about 1000 btc in exchange for ownership in this new 18Gh farm
  • The capital would be used to build rigs for the 6990's and upgrade power and ventilation in my data center
  • Mining is quite profitable for me.  I have facility and network fixed costs (which get lower as I add more rigs), but I only pay 5.2 cents/kwh in power
  • Once I hit 50kVA in a month through expansion, or if I move to another county a bit further out, the power price will drop near 3 cents/kwh

I am looking for your suggestions on what you would want to see in a new mining operation.  More dividends, more reinvestment, maximize profits, expansion into other uses for hashes (e.g. render farm, penetration testing, etc.)??  With your suggestions I hope to define the organization this weekend with an IPO next week.


Bitbond - 105% PPS mining bond - mining payouts without buying hardware
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gewure
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February 29, 2012, 11:50:34 PM
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sounds very promissing
senbonzakura
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February 29, 2012, 11:58:25 PM
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regular dividends per week
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March 01, 2012, 12:41:34 AM
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rapid expansion plan
bulanula
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March 01, 2012, 12:43:37 AM
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What about a BFL farm if they can meet the demand or a farm of Rig Box devices ?

That would be something new and not done before in the community.
amazingrando
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March 01, 2012, 01:12:44 AM
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What about a BFL farm if they can meet the demand or a farm of Rig Box devices ?

That would be something new and not done before in the community.

I've thought about that.  I suspect FPGA rigs like that might be the future, but I'm not ready to make that jump for the following reasons:
1) Who knows if/when BFL will deliver the big boxes and what their real specs will be
2) I already have the 6990's and can easily add more (infrastructure is in place to expand)
3) Current FPGA's aren't as attractive when power is very cheap ($/Mh is high to acquire)
4) GPUs can be rented out to do other kinds of processing if bitcoin mining loses profitability
5) You can always sell GPUs to gamers


Bitbond - 105% PPS mining bond - mining payouts without buying hardware
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March 01, 2012, 02:52:02 AM
 #7

Subscribing to this thread; Interested in investment in this project should it get off the ground.

Donations are welcome!
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amazingrando
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March 01, 2012, 03:36:03 AM
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rapid expansion plan

With investment, it should be possible to add capacity quickly.  After a post-IPO built-out, my preference would be to reinvest and add capacity more than pay dividends.  I'm thinking of a split of profits between reinvestment and dividends along the lines of 70/30.

Comments?

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March 04, 2012, 02:54:30 AM
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rapid expansion plan

With investment, it should be possible to add capacity quickly.  After a post-IPO built-out, my preference would be to reinvest and add capacity more than pay dividends.  I'm thinking of a split of profits between reinvestment and dividends along the lines of 70/30.

Comments?

i thought quite alot about the rate of reinvestment to be done in the bitcoin mining business and came to the conclusion that btc-syndicates approach of reinvesting 100% isn't bad at all. bitcoin is growing rapid and steady, therefor a rapid and steady growing strategy should be applied.

i suggest 80/20. thats the ration i would apply if i had a mining business.

greets
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March 04, 2012, 03:07:47 AM
 #10

Do 50/50, the problem with heavy re-investment is that it is difficult for external observers to differentiate from scamming.

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March 04, 2012, 03:40:15 AM
 #11

A man want to reinvest can always use the proceeds buy more share of the company.
A man who want more dividend can always sell a little bit of the shares if the company reinvest.

No big deal.

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chungenhung
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March 04, 2012, 06:45:55 AM
 #12

is this listed yet?

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gewure
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March 04, 2012, 06:47:18 AM
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A man want to reinvest can always use the proceeds buy more share of the company.
A man who want more dividend can always sell a little bit of the shares if the company reinvest.

No big deal.

that doesn't change the value of the company your are invested in. and that is finally what most people are looking for i think - long term growth.
amazingrando
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March 04, 2012, 02:03:01 PM
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is this listed yet?

Not yet.  But soon

Bitbond - 105% PPS mining bond - mining payouts without buying hardware
splatster
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March 06, 2012, 06:29:06 AM
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This definitely looks interesting.  I bought a short mining contract of about 40 GH/s from him a week or so ago.  I can attest to his having of the rigs.  Also, I currently have a decently sized loan out to him so he could get some more mining hardware.  Speaking of which, I would love to get in contact with you so we can talk more about that loan.  You can drop by on IRC or send me a PM.

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Philj
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March 21, 2012, 02:04:00 PM
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Any update on this. I'd be on board for a few BTC when this IPOs.
amazingrando
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March 21, 2012, 04:48:39 PM
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Any update on this. I'd be on board for a few BTC when this IPOs.

Thanks for the interest.  I've been a bit busy bringing online more equipment and working out what is the optimal starting point in terms of GH/s, strategy, and dividends vs. growth. Also, I've been waiting for GLBSE 2.0 to launch.  I hope to have everything worked out this weekend.

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Garr255
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March 21, 2012, 10:29:15 PM
 #18

2.0 should be out pretty soon. My IPO was a few days ago, and we've already ordered six x6500s. Good luck, though I'm sure you won't need any Tongue

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March 22, 2012, 08:59:31 AM
 #19

I will be interested if you show a longer term growth strategy.

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March 22, 2012, 03:35:52 PM
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Promising, and I agree with you on all accounts in regards to GPUs/vFPGAs when power is cheap.

The most important element for me is a solid ROI.

BTW, what country is the data center located?

In regards to penetration testing do you mean renting out the processing power of password cracking (Cracking as a Service)? Pre-computing Rainbow tables and selling them or something else? I've thought about both of these as options...

I'll be watching for an IPO.
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