μ - Bitcoin Venture Capital (Collecting Shareholders Data)

[guruvan]

It doesn't look like any of the larger "institutional" investors are holding much/any muBit shares. Maybe getting out and pitching to them a little (bitcoin banks, other funds are the firsts that come to mind).

Not entirely true, one of the Bitcoin banks has purchased a large share of this offering and is watching the IPO like a hawk

Ahh...Music to my wallet.dat

[1713586856]

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[1713586856]

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[1713586856]

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[matthewh3]

Update

News



It is said by the CEO of RSM that they will use a new kind of FPGA chips, but we are not convinced:
https://bitcointalk.org/index.php?topic=63257.msg819666#msg819666
https://bitcointalk.org/index.php?topic=63257.msg819672#msg819672

Board #1 will be shipped by no later than this Wednesday (11/04/12[04/11/12]) board #2 will be shipped within three weeks each board operates at ~800MH/s@~40W I'm predicting the weekly dividend (assuming all shares are sold) to be ~0.00333BTC per share each week.

[matthewh3]

Update

News



It is said by the CEO of RSM that they will use a new kind of FPGA chips, but we are not convinced:
https://bitcointalk.org/index.php?topic=63257.msg819666#msg819666
https://bitcointalk.org/index.php?topic=63257.msg819672#msg819672

Board #1 will be shipped by no later than this Wednesday (11/04/12[04/11/12]) board #2 will be shipped within three weeks each board operates at ~800MH/s@~40W I'm predicting the weekly dividend (assuming all shares are sold) to be ~0.00333BTC per share each week.

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

[matthewh3]

Update

News



It is said by the CEO of RSM that they will use a new kind of FPGA chips, but we are not convinced:
https://bitcointalk.org/index.php?topic=63257.msg819666#msg819666
https://bitcointalk.org/index.php?topic=63257.msg819672#msg819672

Board #1 will be shipped by no later than this Wednesday (11/04/12[04/11/12]) board #2 will be shipped within three weeks each board operates at ~800MH/s@~40W I'm predicting the weekly dividend (assuming all shares are sold) to be ~0.00333BTC per share each week.

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

Plus once the IPO is over I'm holding a motion on whether to issue another 375 shares at 0.31BTC each to pay for board #3 which should take the weekly dividend to ~0.00450BTC per share each week or withhold dividends for approximately two to three months to complete the purchase of board #3 in which case the dividend would end up ~0.00500BTC per share each week.

[guruvan]

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

Did I get that right?
800MH/s@40W@$1129

 

[matthewh3]

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

Did I get that right?
800MH/s@40W@$1129

 

Yes the boards nearest competitor is two of the new X6500 boards (and they come without heatsinks) and this board works out cheaper.

[guruvan]

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

Did I get that right?
800MH/s@40W@$1129

 

Yes the boards nearest competitor is two of the new X6500 boards (and they come without heatsinks) and this board works out cheaper.

hmm. what's your power bill? BFL single @ 830MHash/s@80W@$599 + $75to$150 lost mining op time waiting (risky tho) = are you paying that much more in power (or projecting that level of difficulty) that it's worth the premium?

but, as they say, one in the hand is worth two in the bush

EDIT: at $999 it sounds much more betta - are you getting more at that?
 

[matthewh3]

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

Did I get that right?
800MH/s@40W@$1129

 

Yes the boards nearest competitor is two of the new X6500 boards (and they come without heatsinks) and this board works out cheaper.

hmm. what's your power bill? BFL single @ 830MHash/s@80W@$599 + $75to$150 lost mining op time waiting (risky tho) = are you paying that much more in power (or projecting that level of difficulty) that it's worth the premium?

but, as they say, one in the hand is worth two in the bush

EDIT: at $999 it sounds much more betta - are you getting more at that?
 

No only one at $999 but a BFL-Single would take over 8 months to pay for its self but with only 6 months warranty!  This board will take up to 16 months to pay for its self but then will still have 8 months within warranty of a guaranteed profit.  Also got feed up of waiting for the BFL that was a major reason of switching to this.

[matthewh3]

I'm also taking pre-orders for these new boards to be shipped within three weeks at $1129 (RSM board #1 cost $999   ) for 1BTC commission finders-fee until the new company goes public which I expect this Monday or at least before next Friday as my board should be delivered by then and be hashing away with photos published.

edit: twelve months warranty (may be two years [have to check])

Did I get that right?
800MH/s@40W@$1129

 

Yes the boards nearest competitor is two of the new X6500 boards (and they come without heatsinks) and this board works out cheaper.

hmm. what's your power bill? BFL single @ 830MHash/s@80W@$599 + $75to$150 lost mining op time waiting (risky tho) = are you paying that much more in power (or projecting that level of difficulty) that it's worth the premium?

but, as they say, one in the hand is worth two in the bush

EDIT: at $999 it sounds much more betta - are you getting more at that?
 

No only one at $999 but a BFL-Single would take over 8 months to pay for its self but with only 6 months warranty!  This board will take up to 16 months to pay for its self but then will still have 8 months within warranty of a guaranteed profit.  Also got feed up of waiting for the BFL that was a major reason of switching to this.

I pay £0.11185/$0.15kWh and if the difficulty goes right up or the price falls out the electricity costs per board are only £0.75 a week for 10 bitcoins at the moment so even if BTC dropped to $1 (or $2 after the block reward halfs) we could still keep the boards running and issuing dividends.

[friedcat]

Update

First motion
Voted Yea:1098
Voted Nay:17

The motion has been passed.


Second motion
Voted Yea:1150
Voted Nay:0

The motion has been passed.

We have taken action according to the first motion. The second motion now seems to become obsolete since the IPO will probably finish before the end of this financial week.

[friedcat]

Update

First motion
Voted Yea:1098
Voted Nay:17

The motion has been passed.


Second motion
Voted Yea:1150
Voted Nay:0

The motion has been passed.

We have taken action according to the first motion. The second motion now seems to become obsolete since the IPO will probably finish before the end of this financial week.

We reduced the first round IPO from 10,000 shares to 3,000 shares, as allowed by the votes of shareholders.

So, there are merely several hundreds of shares left, and we are on the road of making our money!

Do we have to say anything more about the remaining shares?

[HorseRider]

matthewh3, you're not very reliable according to your track record. And through the market history, even a mining company is mining at its full planned hashing rate, the stock price won't have a premium than 10% for 1-2 weeks. So I will wait until your company is indeed mining as you planned. I'd love to pay the 10% premium than lose all of my bitcoin invested.

[friedcat]

It doesn't look like any of the larger "institutional" investors are holding much/any muBit shares. Maybe getting out and pitching to them a little (bitcoin banks, other funds are the firsts that come to mind).

Not entirely true, one of the Bitcoin banks has purchased a large share of this offering and is watching the IPO like a hawk

Ahh...Music to my wallet.dat

It might be off-topic, but thanks for your free advertisement in the signature.

[matthewh3]

matthewh3, you're not very reliable according to your track record.

Why because I changed my plan twice?  Once to increase the dividend and once to speed up the process to start mining.  Anyway two boards have now been paid for I've a good mind to take all remaining shares and all future issues to be private deals only.  The first dividend should be paid in two weeks and I'm predicating the weekly dividend per share in five weeks to be ~0.00333BTC and if we do issue another 400 shares (maybe privately) the weekly dividend per share will be ~0.0045BTC per share.

[friedcat]

Update

The first round IPO has ended. Thanks for all investors.

The time and (BTC/share) of second round IPO is to be decided. If we are doing very well in the next few weeks, maybe it will be sooner than you expect.

Now let's roll up and make a fortune!

[friedcat]

Weekly Financial Disclosure

Time: 13:28 AM, Beijing time
Date: Apri. 11, 2012

Funds of Last Week: 53.663 BTC
Shares Sold: 1157
Gross Income: 115.700BTC
GLBSE Trading Fee: 0.579 BTC
Net Income: 115.121 BTC

Assets:

Cognitive
Original: 40shares 22.565BTC
Bought in: 105shares 60.900BTC
Average Holding price: (22.565+60.900)/(40+105)=0.576BTC
Sold: 95shares 57.820*(1-0.5%)=57.531BTC
Average Selling Price: 0.606BTC
Holding: 40+105-95=50shares 50*0.576=28.800BTC
Net Gain: (0.606-0.576)*95=2.850BTC
Dividends Paid: 0.000BTC

TyGrr-Bank
Original: 200shares 20.600BTC
Bought in: 294shares 29.400BTC
Average Holding Price: (20.600+29.400)/(200+294)=0.101BTC
Sold: 179shares 18.077*(1-0.5%)=17.987BTC
Average Selling Price: 0.100BTC
Holding: 200+294-179=315shares 315*0.101=31.815BTC
Net Gain: (0.101-0.100)*179=0.179BTC
Dividends Paid: 2.011BTC

TyGrr-Bot
Original: 20shares 20.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 20.000/20=1.000BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 20+0-0=20shares 20*1.000=20.000BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

PureMining
Original: 50shares 18.550BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 18.550/50=0.371BTC
Sold: 0share 0BTC
Average Selling Price: N/A
Holding: 50+0-0=50shares 18.550BTC
Net Gain: 0.000BTC
Dividends Paid: 0.232BTC

RSM
Original: 0shares 0.000BTC
Bought in: 15shares 4.500BTC
Average Holding Price: 4.500/15=0.300BTC
Sold: 15shares 5.25*(1-0.5%)=5.224BTC
Average Selling Price: 0.348BTC
Holding: 0+15-15=0shares 0.000BTC
Net Gain: (0.348-0.300)*15=0.720BTC
Dividends Paid: 0.000BTC

BitBond
Original: 80shares 48.000BTC
Bought in: 60shares 36.750BTC
Average Holding Price: 84.750/140=0.605BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 80+60-0=140shares 84.750BTC
Net Gain: 0.000BTC
Dividends Paid: 0.439BTC

Gigamining
Original: 0shares 0.000BTC
Bought in: 80shares 104.800BTC
Average Holding Price: 104.800/80=1.310BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 0+80-0=80shares 104.800BTC
Net Gain: 0.000BTC
Dividends Paid: 0.000BTC

Holding Funds=
53.663+115.121-60.900+57.531+0.000-29.400+17.897+2.011-0.000+0.000+0.000-
0.000+0.000+0.232-4.500+5.224+0.000-36.750+0.000+0.439-104.800+0.000+0.000=15.768BTC

Total Net Gain=
2.850+0.000+0.179+2.011+0.000+0.000+0.000+0.232+0.720+0.000+0.000+0.439+0.000+0.000=6.431BTC

Calculated Dividends: 6.431*35%=2.251BTC

Usable Funds: 15.768-2.251=13.517BTC (The CEO does not take any fee this week)

Actual Dividends: 2.34299BTC (For Adjusting the rounding errors)

[friedcat]

Apologize

We apologize for our hesitation towards the Pre-IPO of Gigamining, and our failure to catch the best price on the IPO.
Though 1.3/share is still way better than PureMining and BitBond, we could have done much better.
Sorry to our shareholders. We will do better next time.

[friedcat]

Update

We are considering some modifications to our policies. They are just proposals, not motions. We won't be holding votes on them immediately. Any advices, criticisms and discussions are welcome.

1. Is it OK to always pay 100%(or 95%, fee excluded) when doing the second, the third, and the Nth fundraising, and resume the rate to 35% when they finish?

Reason: (1) When doing fundraising, the dividends will be diluted by new shares. Paying 100% during that time could help us obtain more steady returns.
            (2) It could reduce (N-1) cumbersome motions in the future.

2. Is it OK for the CEO to permanently give up the 5% fee, instead he automatically gains 5% of the new shares issued each time?

Reason: (1) It simplifies dividends calculation and reduces BTC transfer.
            (2) The CEO could cash some out in extreme conditions. (mu in emergency of Bitcoin flow, CEO himself needs Bitcoins, etc)
Downside: (1) The CEO will have more potential to influence the stock price.

[friedcat]

Weekly Financial Disclosure

Time: 13:45 AM, Beijing time
Date: Apri. 18, 2012

Funds of Last Week: 13.517 BTC

Assets:

Cognitive
Original: 50shares 28.800BTC
Bought in: 123shares 69.090BTC
Average Holding price: (28.800+69.090)/(50+123)=0.566BTC
Sold: 43shares 27.310*(1-0.5%)=27.173BTC
Average Selling Price: 0.632BTC
Holding: 50+123-43=130shares 130*0.566=73.580BTC
Net Gain: (0.632-0.566)*40=2.640BTC
Dividends Paid: 0.268BTC

TyGrr-Bank
Original: 315shares 31.815BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.101BTC
Sold: 315shares 32.033*(1-0.5%)=31.872BTC
Average Selling Price: 0.101BTC
Holding: 315+0-315=0shares 0.000BTC
Net Gain: 31.872-31.815=0.057BTC
Dividends Paid: 0.000BTC

TyGrr-Bot
Original: 20shares 20.000BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.000BTC
Sold: 20shares 25.000*(1-0.5%)=24.875BTC
Average Selling Price: 1.244BTC
Holding: 20+0-20=0shares 0.000BTC
Net Gain: 24.875-20.000=4.875BTC
Dividends Paid: 0.000BTC

PureMining
Original: 50shares 18.550BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 0.371BTC
Sold: 50share 19.620*(1-0.5%)=19.522BTC
Average Selling Price: 0.390BTC
Holding: 50+0-50=0shares 0.000BTC
Net Gain: 19.522-18.550=0.972BTC
Dividends Paid: 0.000BTC

BitBond
Original: 140shares 84.750BTC
Bought in: 15shares 7.500BTC
Average Holding Price: (84.750+7.500)/(140+15)=0.595BTC
Sold: 0shares 0.000BTC
Average Selling Price: N/A
Holding: 140+15-0=155shares 92.250BTC
Net Gain: 0.000BTC
Dividends Paid: 1.159BTC

Gigamining
Original: 80shares 104.800BTC
Bought in: 0shares 0.000BTC
Average Holding Price: 1.310BTC
Sold: 10shares 14.000*(1-0.5%)=13.930BTC
Average Selling Price: 1.390BTC
Holding: 80+0-10=70shares 91.700BTC
Net Gain: (1.390-1.310)*10=0.700BTC
Dividends Paid: 1.542BTC

Holding Funds=
13.517-69.090+27.173+0.000-0.000+31.872+0.000-0.000+24.875+0.000-
0.000+19.522+0.000-7.500+0.000+1.159-0.000+13.930+1.542=57.000BTC

Total Net Gain=
2.640+0.268+0.057+0.000+4.875+0.000+0.972+0.000+0.000+1.159+0.700+1.542=12.213BTC

Calculated Dividends: 12.213*35%=4.275BTC

Usable Funds: 57.000-4.275=52.725BTC (The CEO does not take any fee this week)

Actual Dividends: 4.44380059BTC (For Adjusting the rounding errors)

[HorseRider]

The performance is fantastic. for the IPO investor, this week the MU gain a more than 4% return on investment. If someone buy all the shares at IPO with 300 BTC, MU earns 12.2 BTC for him this week. 4.3BTC is paid as dividend and rest of it will add to growth fund.

It's really fantastic.