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Author Topic: [GLBSE] BFLS - Bitcoin Mining & Sales  (Read 15938 times)
Inaba
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April 04, 2012, 03:03:57 PM
 #1

https://glbse.com/ipo/6

Initial offering of BFLS @ 0.7 BTC / share.  BFLS is a public offering for stock in an FPGA mining company with the ability to acquire the mining assets at any given time.  200 Shares per BFL Single unit will be issued, with 30 (15%) being kept by the operator to cover operational costs, maintenance, and unit replacement.  Units will mine at the operators facility/facilities, and dividends on the mining proceeds will be distributed on a weekly basis, split evenly according to the number of shares held. For example, if there are 200 total outstanding shares and weekly proceeds are 20 BTC, and you hold 50 shares, you will receive 5 BTC per week.

Any individual investing in the company may, at their discretion, transfer 200 BFLS shares to the operator in exchange for a physical BFL Single being shipped (CONUS only. Additional charge for international shipping.) to the individual. When a BFLS is redeemed, a new unit will replace the redeemed unit, and 170 BFLS shares will be offered at current market rate.

Should mining become unprofitable or other circumstances cause the operator to be unable or unwilling to perform his duties, sale of all hardware and equal distribution of funds will commence according to the number of shares held by each individual.  Additionally, should a BFL Single be unavailable for immediate shipping, the operator reserves the right to refuse the 200 BFLS shares until such time as a unit becomes available.

Shares will be on sale next week.  I will be releasing shares for sale in a controlled manner as the hardware comes online and begins mining.

If you're searching these lines for a point, you've probably missed it.  There was never anything there in the first place.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin-Qt, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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Inaba
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April 05, 2012, 03:57:29 PM
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Bump

If you're searching these lines for a point, you've probably missed it.  There was never anything there in the first place.
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April 05, 2012, 04:24:25 PM
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Yet another excellent offering! Have you set a date, Inaba?

Mine at the Maza Club! with ShastaFarEye Prospectors! Mazacoin PPS & P2pool mining, and more services coming soon!
Maza Means Money! Check yours at the mazacha.in!

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Inaba
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April 05, 2012, 04:56:56 PM
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One week from yesterday will be the IPO.  Depends on when my shipment of BFL units gets in as to how many shares I'll release at the IPO, but there will only be 10 units (2000 shares) outstanding at any given time, unless I increase my FPGA holdings dramatically.  I plan on keeping a number of units in reserve for failure, mining, delays in shipments, etc... 

I will likely be offering the same for MiniRig boxes and RigBoxes as well.

If you're searching these lines for a point, you've probably missed it.  There was never anything there in the first place.
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April 05, 2012, 04:58:13 PM
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watching
Epoch
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April 05, 2012, 05:50:12 PM
 #6

ditto.

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tgmarks
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April 05, 2012, 10:52:19 PM
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like it

Inaba
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April 06, 2012, 02:40:11 AM
 #8

Got a lot of PMs on the subject, I will get to them soon - just got home and am dead tired, so I'll try to get all of them answered tomorrow.

If you're searching these lines for a point, you've probably missed it.  There was never anything there in the first place.
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April 06, 2012, 03:13:58 AM
 #9

Subbed. Like the backing of actual hardware.

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DILLIGAF
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April 06, 2012, 04:27:08 AM
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Subbed. Like the backing of actual hardware.

Indeed and shockingly it appears the shares are priced to reflect close to the actual cost of the hardware.
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April 06, 2012, 07:47:06 AM
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In for this!
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April 06, 2012, 10:44:04 AM
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Count me in! Grin
Sukrim
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April 06, 2012, 12:24:48 PM
 #13

So far one of the cheapest (the cheapest I could find/would trust) "PPS shares" on GLBSE. Smiley

(for comparison, MH/s per BTC spent:
Inaba: ~6 MH/s, assuming 830 MH/s per unit
gigavps: probably 5 MH/s
Meni: ~2.6 MH/s)

Good luck and please make sure to post extensive statistics on payouts!

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jamesg
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April 06, 2012, 12:33:01 PM
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So far one of the cheapest (the cheapest I could find/would trust) "PPS shares" on GLBSE. Smiley

(for comparison, MH/s per BTC spent:
Inaba: ~6 MH/s, assuming 830 MH/s per unit
gigavps: probably 5 MH/s
Meni: ~2.6 MH/s)

Good luck and please make sure to post extensive statistics on payouts!

I would like to ask the OP, are you guaranteeing a PPS rate on the shares held?

I reread the OP and did not find that guarantee.
JWU42
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April 06, 2012, 12:58:17 PM
 #15

Interesting twist with the single purchase option...

@gigavps - I believe this is not a guaranteed PPS like your bond offering.  Simply divides revenue by shares and paid proportionally.  I think it fair to assume the revenue would be ~100% PPS, however.

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jamesg
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April 06, 2012, 01:00:32 PM
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Interesting twist with the single purchase option...

@gigavps - I believe this is not a guaranteed PPS like your bond offering.  Simply divides revenue by shares and paid proportionally.  I think it fair to assume the revenue would be ~100% PPS, however.

I am starting to think the real deal here is buying 1000 shares and asking Inaba to send you 5 singles.

* gigavps start dreaming of moar singles in the bottom rack......
JWU42
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April 06, 2012, 01:01:47 PM
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Yep  Grin

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The00Dustin
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April 06, 2012, 01:15:26 PM
 #18

I will likely be offering the same for MiniRig boxes and RigBoxes as well.
Would this all blend together with more BFLS shares per miniRig and RigBox, meaning early adopters would gain from the upgrade / addition, or would those be offered in separate tickers when thie time comes?
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April 06, 2012, 03:05:15 PM
 #19

Interesting twist with the single purchase option...

@gigavps - I believe this is not a guaranteed PPS like your bond offering.  Simply divides revenue by shares and paid proportionally.  I think it fair to assume the revenue would be ~100% PPS, however.

I would assume Inaba's running these on his pool (EclipseMC), which would cause payouts to very a bit, but in the long term theoretically average out to 100% PPS.

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April 06, 2012, 05:39:19 PM
 #20

I would assume Inaba's running these on his pool (EclipseMC), which would cause payouts to very a bit, but in the long term theoretically average out to 100% PPS.

I would assume Inaba would run these on GPUMAX and get 1.2x-1.3x-1.4x PPS.

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