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Author Topic: [Cryptostocks] Bitbond 200Gh/s 105% PPS mining bond - Relaunched  (Read 35274 times)
DeathAndTaxes
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April 14, 2012, 03:57:46 PM
 #81

105/110% PPS sounds much better than 2.1/2.2 MH/s per share, right? Tongue



I got to agree it is just stupid.
It would be kinda like a CD/bond offering 105% of 5% interest instead of just offering 5.25% interest.
All that matters for a perpetual bond (beyond trust) is the price in BTC per "real" MH/s.

Maybe I should offer a .... DRUMROLL ... 500% PPS bond (sold @ 5x the price per MH/s)
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amazingrando
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April 14, 2012, 05:19:07 PM
 #82

105/110% PPS sounds much better than 2.1/2.2 MH/s per share, right? Tongue



I got to agree it is just stupid.
It would be kinda like a CD/bond offering 105% of 5% interest instead of just offering 5;25% interest.
All that matters for a perpetual bond (beyond trust) is the price in BTC per "real" MH/s.

Maybe I should offer a .... DRUMROLL ... 500% PPS bond (sold @ 5x the price per MH/s)

Based on discussions I've had with investors what matters is the price and the payout (and thus ROI).  Some convert the PPS % into mh/s, others just use % of PPS.  The numbers come out the same either way.

FYI. Those who invested in a 2 MH/s at 105% PPS bond are receiving 110% PPS worth of payout in today's payout, without having paid more. Creative marketing or not, that seems like a deal to me Wink

Bitbond - 105% PPS mining bond - mining payouts without buying hardware
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April 14, 2012, 05:28:56 PM
 #83

Well, if you say you are backing this bond with 20 GH/s, it might be even a bad business decision instead of just marketing talk - imagine a 1000% PPS deal for 1 GH/s backed by 100MH/s for example... Wink

Anyways, it was just something that I found interesting.

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April 14, 2012, 06:38:02 PM
 #84


Based on discussions I've had with investors what matters is the price and the payout (and thus ROI).  Some convert the PPS % into mh/s, others just use % of PPS.  The numbers come out the same either way.

FYI. Those who invested in a 2 MH/s at 105% PPS bond are receiving 110% PPS worth of payout in today's payout, without having paid more. Creative marketing or not, that seems like a deal to me Wink

I am not trying to offend you. Actually your offer does look good. Just that it can be explained easier as pointed above, but not less appealing to some investors. Thus I called it marketing. 
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April 14, 2012, 08:54:33 PM
 #85

Well, if you say you are backing this bond with 20 GH/s, it might be even a bad business decision instead of just marketing talk - imagine a 1000% PPS deal for 1 GH/s backed by 100MH/s for example... Wink

Amazingrando is one of the very few miners to be able to offer a deal like this at scale. If he needed to throw 40Gh behind this venture to make it successful, he could easily do it without batting an eye.

As for what to call his offer, 110% may not mean much if you only own 10 bonds, but for the larger investors who have put their faith and BTC into his offering, it is a bonus OVER what they were expecting. Amazingrando is under promising and over delivering for the investors who believed in him.

Just imagine what this community would be like if everyone tried to do this.
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April 14, 2012, 09:23:17 PM
 #86

Actually I just bought some shares that give 200% PPS for quite some time in another IPO...

I'm just saying that offering 100000% PPS of 1 MH/s is worse than offering 100% PPS of 1 GH/s. As amazingrando has anyways more hashing power than the 20 GH/s he's selling here, I wouldn't worry much in this particular case. I just hope it doesn't turn into badly backed contracts when someone effectively sells 105 MH/s contracts for 100 MH/s owned, believing that it will always be possible to mine at more than 100% PPS values in the longer run.

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April 15, 2012, 12:25:49 AM
 #87

Payouts will be coming later tonight.  Need to do a little math because we had a difficulty change mid-week.

Bitbond - 105% PPS mining bond - mining payouts without buying hardware
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April 15, 2012, 02:23:38 AM
 #88

Payouts paid!

Today's payout, for Tuesday through Saturday, totaled 48.86686 btc paid to 6,000 shares for 0.00747781 btc per 2MH/s share

Two interesting components of this payout were:
1) I paid 110% of PPS earnings for this period
2) Difficulty went *down* mid-week, so this resulted in more btc for investors

The 110% PPS payout will continue next week as well.

Bitbond - 105% PPS mining bond - mining payouts without buying hardware
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April 18, 2012, 10:41:10 PM
 #89

For those who are interested, I started the process to be verified on GLBSE.  Should be complete in the next day or two

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April 20, 2012, 04:38:28 PM
 #90

Updates:

1) Verification on GLBSE has been completed

2) I will be offering up the remainder of round 2 bonds on Sunday, 4/22.  I will also likely be expanding the offering to 40Gh/s.  More info to come.

3) If you're interested in what >100Gh/s that backs this bond looks like, here you go Wink


Bitbond - 105% PPS mining bond - mining payouts without buying hardware
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April 20, 2012, 05:09:55 PM
 #91

Excellent pic -- you definitely need height in your mining room for the heat to escape...  Grin

Also love the drum fan - that is being added to my arrangement as well!

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April 20, 2012, 05:36:39 PM
 #92

Excellent pic -- you definitely need height in your mining room for the heat to escape...  Grin

Also love the drum fan - that is being added to my arrangement as well!

I had considered a couple of options before getting the drum fan.  This one pulls in 22,000 cfm of fresh air (which is quite cool here in the pacific northwest).  Temps have been great ever since I installed it

Bitbond - 105% PPS mining bond - mining payouts without buying hardware
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April 20, 2012, 05:57:39 PM
 #93

22,000 cfm - oh my lord!

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April 20, 2012, 05:59:14 PM
 #94

22,000 cfm - oh my lord!

 Smiley  Yeah, my data center blows - literally!

Bitbond - 105% PPS mining bond - mining payouts without buying hardware
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April 20, 2012, 06:03:04 PM
 #95

Hory fucken shet, that is a major operation. Sweet.

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April 20, 2012, 06:56:54 PM
 #96

Updates:

1) Verification on GLBSE has been completed

2) I will be offering up the remainder of round 2 bonds on Sunday, 4/22.  I will also likely be expanding the offering to 40Gh/s.  More info to come.

3) If you're interested in what >100Gh/s that backs this bond looks like, here you go Wink



Nice.  What's the temperature inside. 
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April 20, 2012, 07:01:26 PM
 #97

There's a ton of airflow, so it's quite close to outside air temperature.  Lately it's been in the 50's F and 40's at night.  Inside it might be like 60-65F

Bitbond - 105% PPS mining bond - mining payouts without buying hardware
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April 20, 2012, 07:09:34 PM
 #98

Updates:

1) Verification on GLBSE has been completed

2) I will be offering up the remainder of round 2 bonds on Sunday, 4/22.  I will also likely be expanding the offering to 40Gh/s.  More info to come.

3) If you're interested in what >100Gh/s that backs this bond looks like, here you go Wink



incredible.

Thanks for sharing!

Don't get caught up in the game and have a nice day!
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April 20, 2012, 11:31:29 PM
 #99

There's a ton of airflow, so it's quite close to outside air temperature.  Lately it's been in the 50's F and 40's at night.  Inside it might be like 60-65F

That's very impressive. Nice job with your facility!

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April 22, 2012, 04:59:44 AM
 #100

Updates

* Payout 3 was made today for all existing investors

* The remaining 4,000 bonds will go on sale tomorrow for 0.6 btc.

* 110% PPS will continue again for the next week

Bitbond - 105% PPS mining bond - mining payouts without buying hardware
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