[GLBSE] Yet Another Bitcoin Mining Company (YABMC) - Call for comments...

[JWU42]

Yet Another Bitcoin Mining Company

Trying to learn from those who have gone before me and provide shareholder value (yes, looking at equity and not debt).

Will be selling ~5Gh/s in the near-term and could increase to 30 Gh/s come June/July.

Again, more to follow and appreciate comments on what the community feels has been lacking (if anything) from previous offers.

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[BinaryMage]

What differentiates you from previous/other companies?

[JWU42]

Good question and hence the request for comments to open a dialogue.

I am not sure I see a marked difference in any of the recent offerings with the exception of Inaba and his BFL purchase option.  No chance I could do that as he has a relationship there and it is unlikely to change.  So what differentiates YABMC - perhaps very little at this early stage.  This is something I will think on...

So again, my question to the forum - what has been missing (if anything) from previous offers that we can attempt to construct here?

[mcorlett]

Will be selling ~5Gh/s in the near-term and could increase to 30 Gh/s come June/July.

Assuming you're mining using GPUs, do you have the infrastructure required to handle 30 GH/s?

[JWU42]

A bit more on current set-up...

9.5 Gh in GPU (my personal reserve fund)

For the Fund

~5 Gh in BFL Singles (basis of fund to start) - Ordered

~25 Gh in BFL mini-rg OR ~20Gh in Largecoin (growth plan)

If we were to grow to 30 Gh/s I would certainly look to increase Hashing Reserve

If demand is great enough I could start with 5 Gh/s of GPU (2 - 4x7970 rigs) and transition to BFL Singles when they arrive.

[JWU42]

Well the mini-rig is finally official - time to accelerate things or keep it private.

I spent part of yesterday thinking over how things have worked on GLBSE.  An equity's price is often based on a multiple and that really doesn't seem to work here as there aren't quarterly financial statements etc.  Most of the equities are paying dividends (weekly) which is more bond like to me.  That isn't to say that stocks don't pay dividends, just that the focus of equities would seem to be capital appreciation and bonds consistent dividends.

Is it even possible to move to something more "real world"?  The value of the company is the ability to generate a profit and those that generate more profit realize a higher equity price (while also factoring present value of growth opportunities).

I fear this model, call it "real world equities", would struggle on GLBSE as there isn't sufficient volume.  Stock and Bond holders are using payback as the primary metric to judge.  Could you shift to a model that is more focused on capital appreciation (i.e., the value isn't the dividend as much as the increasing stock price)?

Appreciate comments or thoughts on the structure -- again, focusing (or trying) on differentiation here.

Will never work in this virtual world.  Lack of auditing and regulation would be an issue.  Perhaps in the long run the free market would weed out those that are legit versus not.  I suspect the other offerings out there are as good as we have (for now).

[JWU42]

New thread started here ==> https://bitcointalk.org/index.php?topic=75867.0