[Cryptostocks] Bitbond 200Gh/s 105% PPS mining bond - Relaunched

[GeoRW]

uff, this is huge.  Will that need a lot of maintenance? At what price will you be selling those additional bonds?
Best of luck

[WinTame2012]

Quite interested. How to register to get your upcoming shares offer?

[WinTame2012]

Yes, I registered at GLBSE and have my BTC's ready on account. How to subscribe motion? (I'm under 400 BTC investor

[GeoRW]

Yes, I registered at GLBSE and have my BTC's ready on account. How to subscribe motion? (I'm under 400 BTC investor

You may buy and sell shares/bonds there even now. On Friday he will put additional 30k bonds for sale. Currently price there is around 0.6 (just check asks and bids): https://glbse.com/asset/view/BITBOND

[WinTame2012]

Thank you guys for instructing noob in Bitcoin stocks stuff

[GeoRW]

Thank you guys for instructing noob in Bitcoin stocks stuff

No problem, just don't buy too hastily everything you see with all your money, or you will learn the hard way

[amazingrando]

While I would like to buy in at a discount, I would like to ask, what is the benefit for investors of your newfound hashing power? it seems your mHash/share will be exactly the same as before.

My philosophy is to set realistic goals and then strive to exceed those goals.  With the new hashing power, I hope to be able to extend the 110% PPS indefinitely and possibly offer more as I increase my efficiency.  I don't want to commit to that until I have everything up and running and it's working as efficiently as I plan.  At a minimum, the new hashing power will allow ensure that I have plenty of surplus hashing power to handle any issues that may come up.

[amazingrando]

The response to my expanded offering has been wonderful! 

In speaking with a few prospective investors, they would like more time to prepare their investment.  Thus, I will be moving the offering date to June 13th, next Wednesday.

If you need to make an investment before this weekend's payout, please let me know and we will see if we can work something out.

[Sturmvogel]

Can you disclose share price for public sale?

[amazingrando]

Hi everyone-

I have been having trouble with my GLBSE account since Friday.  Thus far, Nefario and team have not resolved it yet.  Until it is resolved I cannot pay a coupon payment or sell bonds.  I'll keep you posted on progress.

Fixed!

I will be send out coupon payments shortly

[amazingrando]

Update

This week was paid out at 110% PPS.  Today was our biggest payout yet:  423.98 btc!     Enjoy!

[amazingrando]

Large investors have asked for a couple more days.  Thus, the offering is now scheduled for Friday

[amazingrando]

Weekly payout paid, a total of 431.84 btc, which at the latest trades is almost $2800! 

While I have been hugely expanding my hashing power, there has been some interesting volatility in the market.

First, we've seen Bitcoin prices by a good 25%.

Second, bond prices (not just Bitbond) have been fluctuating and been down about 15-20%.  Part of this has been driven by FUD circulating around in chat rooms about the value of bonds in general.  In my view this is creating a huge opportunity for someone to snag a bunch of bonds on the cheap.

Until we get a bit more stability in the market, I will likely only make a very small expanded bond offering to the public.  I would rather not feed irrational selling.

Meanwhile, 110% PPS will continue, meaning all bondholders are getting effectively 2.2mh/s per bond.  Enjoy your bigger payouts!

[amazingrando]

One more thing....

Since my hardware is paid for and I pay a fair bit less than 3 cents per kw/h, ASICs won't dramatically improve my operational profitability.  What it will do is allow for less expensive expansion, which may be needed if difficulty increases.  Thus, I plan to invest in some ASICs as a hedge.  Given the real risk of a protocol change (which would render any ASICs completely useless), I will wade into ASICs carefully.  If there is no protocol change I will likely increase the payouts for bondholders or offer an upgrade to a new class of bonds when ASICs arrive

[BinaryMage]

It has been whispered about in the darkest corners of the bitcoin world but I honesty doubt it will happen unless it is clear someone will get a 50% attack going. Someone should start a thread on the forum.

What, proof-of-stake? There have been many protocol changes proposed, which are you referring to?

[BinaryMage]

It has been whispered about in the darkest corners of the bitcoin world but I honesty doubt it will happen unless it is clear someone will get a 50% attack going. Someone should start a thread on the forum.

What, proof-of-stake? There have been many protocol changes proposed, which are you referring to?

If sha256(sha256(x)) gets replaced by something else, like scrypt
or sha256(scrypt(x) + sha256(x)) then ASICS are dead in the water.

Scrypt, interesting. That would certainly change things. Is there a thread about this, or has it just been mentioned on IRC?

From what I've read though, Scrypt would actually be more vulnerable than SHA256 to custom hardware, though, as it's specifically designed to be inefficient on standard CPUs/GPUs.

[steelhouse]

It is sinking in you can buy 5mh/s in 4 months for .023 btc.

[amazingrando]

It is sinking in you can buy 5mh/s in 4 months for .023 btc.

With all due respect, I think stating such a prediction can only serve to stir up fear and panic.  Honestly, no one knows what will happen four months from now.  There is a great deal that could change in the next four months that would greatly affect pricing both in btc and fiat.

[sunnankar]

It is sinking in you can buy 5mh/s in 4 months for .023 btc.

I kind of have to agree with amazinggrando here.

In other words, steelhouse, are you willing to sell a properly collateralized forward contract for perpetual hashing power deliverable in 4-5 months?

Everyone can have opinions on what they think will happen but I am more interested in what people are willing to risk money on happening. I would love for you, or anyone else, to put your money where you have asserted because I am inclined to take the other side of the contract based on Butterfly Lab's performance to date.

[DiabloD3]

Hey amazingrando, have you considered replacing Bitbond with a fixed dividend bond instead of per mh? It would go a long way to stabilize GLBSE's wild fluctuations, and clearly you can grow your farm fast enough to keep up.