[GLBSE] BFLS - Bitcoin Mining & Sales

[Inaba]

Inaba,

At what time is this thing being released?

Thanks,
gigavps

Is that something GLBSE dictates or is it when I transfer them out of the holding portfolio onto the market?  I really wish there was some documentation on GLBSE!

If it's the latter, I will start issuing shares between 0900 and 1100 CST and release them slowly throughout the day, likely around 170 shares at a time.

[1715010902]

1715010902

[The00Dustin]

(2) Inaba issues a seperate, temporary stock each time he wishes to order more hardware. A share of this asset "guarantees" the buyer a share of BFLS upon receipt of the hardware by Inaba. He raises enough money, purchases the hardware, issues new BFLS shares, transfers shares to those who bought the temporary stock, and finally deletes the temporary stock. Crude, and I don't know what Nefario would think of this, but AFAIK it should work.

This could be done with a subasset.  Theoretically, you could sell the subasset and then when the time comes, transfer 1 BFLS share per subasset share to each account that transfers you subassets.  This is assuming that GLBSE shows this information on the frontend.  It does show where dividends come from, so I imagine it shows what account transfers come from as well.

[The00Dustin]

Is that something GLBSE dictates or is it when I transfer them out of the holding portfolio onto the market?  I really wish there was some documentation on GLBSE!

If it's the latter, I will start issuing shares between 0900 and 1100 CST and release them slowly throughout the day, likely around 170 shares at a time.

I haven't done any issuing in GLBSE, but I'm guessing you can sell them at will.  I'm certain it was that way in the old system.  Also, about offering 170 at a time, have you looked at the number of open buy orders?  I am guessing you can just go ahead and issue them all at once, with the highest bidders getting the shares.  I'm pretty sure there's no way you can sell to a lower bidder unless you take payment outside of GLBSE with a limit per person and then transfer the shares to the appropriate accounts (where those buyers may well then sell to the highest bidder in GLBSE, earning money you could have fairly received).  You might want to do a low number at a time and keep looking at the buy orders to make sure there's not a big order taking them all, but even then, what can you do if there is (and as such, why worry about it)?

[stochastic]

When you need to get new hardware, you just release new shares at market price, setting the price per share of the hardware accordingly. That way you don't dissolve the existing shares and you get the capital you need for the hardware.

You can't do that, because you are diluting the worth of the previous investors' shares until the new hardware arrives. That's why you need a self-contained entity (a "sub-asset") until the new hardware arrives. Then you can merge everything together.

Why not buy them yourself then when they come in release more shares?

[zapeta]

Inaba,

At what time is this thing being released?

Thanks,
gigavps

Is that something GLBSE dictates or is it when I transfer them out of the holding portfolio onto the market?  I really wish there was some documentation on GLBSE!

If it's the latter, I will start issuing shares between 0900 and 1100 CST and release them slowly throughout the day, likely around 170 shares at a time.

I'd encourage you to release the shares in one shot - there are enough orders out there to buy most of the shares.

[rdponticelli]

Inaba,

At what time is this thing being released?

Thanks,
gigavps

Is that something GLBSE dictates or is it when I transfer them out of the holding portfolio onto the market?  I really wish there was some documentation on GLBSE!

If it's the latter, I will start issuing shares between 0900 and 1100 CST and release them slowly throughout the day, likely around 170 shares at a time.

I'd encourage you to release the shares in one shot - there are enough orders out there to buy most of the shares.

Yes, a big dump would be fun.

[zapeta]

I'd encourage you to release the shares in one shot - there are enough orders out there to buy most of the shares.

Yes, a big dump would be fun.

Well, and honestly its a lot less annoying than sitting around refreshing GLBSE all day to see if your shares were purchased or if you need to adjust your bids.

[Inaba]

I will release all available shares at once, in about 2 hours from now.  1100 EDT or there abouts.

[tgmarks]

I will release all available shares at once, in about 2 hours from now.  1100 EDT or there abouts.

Sweet, let the games begin.

[JWU42]

More IPO fun for GLBSE 

[server]

I will release all available shares at once, in about 2 hours from now.  1100 EDT or there abouts.

Is this now ?

I asked Nef to add GLBSE-time to the site, will be less confusing.

[BinaryMage]

Yes, it's now 11:04 AM EDT.

[m_yaw]

So, what's going on? The number of shares issued jumped from 0 to 2000 but there was no sell order from inaba yet...

[BinaryMage]

So, what's going on? The number of shares issued jumped from 0 to 2000 but there was no sell order from inaba yet...

I'm not sure... Inaba?

I'm just spamming F5.

[filharvey]

just checked the orders and there is a lot of demand for this, with people offering all the way upto 1 for a share initially worth 0.7

will be interesting to see how this goes over time. Wonder how many of the 200 orders for shares will request the hardware? At least 5 of over 200 shares.

Just counted 1600 orders for more than 0.71

Phil

[tgmarks]

You cant even crack the top 2k orders for the original ipo price now. So when is the trigger getting pulled on this?

[server]

just checked the orders and there is a lot of demand for this, with people offering all the way upto 1 for a share initially worth 0.7

I put up a bid 1@1 to prevent one buyer is getting all the stocks.
Just to prevent one big dog gets everything.

Bitcoin-rich buy all of these stocks & bonds and I think it's bad for bitcoin that a few people ...etcetc

[filharvey]

I think I missed it but how many BFL singles are on order for this? 5?

Phil

[m_yaw]

@filharvey:
10. at least

2000 shares / 200 shares per unit = 10

[filharvey]

just checked the orders and there is a lot of demand for this, with people offering all the way upto 1 for a share initially worth 0.7

I put up a bid 1@1 to prevent one buyer is getting all the stocks.
Just to prevent one big dog gets everything.

Bitcoin-rich buy all of these stocks & bonds and I think it's bad for bitcoin that a few people ...etcetc

How do the IPO's on GLBSE work? Is it highest bidder get the sale? Is it all shares are sold at the IPO price or done via auction ie highest first?