[GLBSE] CANMINE 5GH/s mining bond CANCELLED DUE TO LACK OF INTEREST

[ciuciu]

Hello bitcoiners,

I would like to offer 125 shares in my  mining operation valued at 10 BTC each. Each coupon will be worth 40Mh/s.
I intend to use the funds to purchase 10 Butterfly Labs BitForce Singles.
Until their arrival I will make the payments from my 15GB mining farm. I intend to start on 16th, with weekly payments.
I reserve the option to repurchase bonds at 105% of the highest traded price over the last 15 days.

I would like to keep this as transparent as possible so I'm ready to answer all questions. Suggestions and advice are welcome!

Thank you.

Follow up:

1. By mistake I entered 1250 instead of 125. I contacted GLBSE support and they told me it can't be modified at this time. Next week after they upgrade the website it will be possible to modify it. Be kind I'm new to this!

2. Personal information submitted for approval.

3. Personal information verified by GLBSE.

[1715033359]

1715033359

[1715033359]

1715033359

[Sukrim]

As with all the other "mining bonds":
Show clear(!) proof that you really control this hashing power via blockchain!

To do so:

1) create a new bitcoin address, unknown to the blockchain
2) Sign a message with this address, something like "ciuciu controls this address" and maybe include a link to this topic or so
3) Mine on p2pool or Eligius for at least 1 week to this address and to this address only with a hash rate that is as constant as can be to proove you didn't use GPUMAX or are buying your hashing power from somewhere else.
4) Post the address, the message + signature and the proof with the generated coins (e.g. blockexplorer) in this thread
5) repeat this step every 1-2 months if you really need to mine somewhere else (not on p2pool), for extra confidence ONLY mine on p2pool or Eligius with this address

It is VERY easy to let such a contract/bond run like a Ponzi scheme (selling bonds for a high price, pay the payouts from the IPO initially and after half a year or so "disappear", have "hardware errors", "a medical condition" or more or less anything else that could make people panic-sell. After 15 days pay 105% of the lower-than-IPO price + keep the remaining BTC.

It takes far more than 1 year until something like the above becomes unprofitable for you as the issuer...

[ciuciu]

I understand the problem, unfortunately it takes too much time.
As proof, here is a link to my anubis page, hosted on my home computer.
Two hosts are on wireless and sometime they do not show up. I can provide pictures.

Thanks.

[Sukrim]

Seems like I can change values there, dunno if that changes the view of every other visitor after me too... but yes, stuff like this gives more confidence that you at least really have the hash rate needed to generate the amount of coins you want to sell - which is already 1 major thing that might seperate you from a fraudster!

The other thing is: Are you actually using external money to fund this?
For this to be more transparent, you could for example use a feature that would have yet to be developed for GLBSE: Send money to a fixed BTC address and it gets paid as dividends to holders of a certain share. This would allow your buyers to see that you are actually using fresh coin to pay them, not just their own funds for ~1 year and then miraculously (even though you mined in your own pocket) make a great disappearance.

[ciuciu]

I can offer a collateral of 500 shares in GIGAMINING I bought a few days ago. I can try to speak at GBLSE to remove the sell option on my account and keep them in escrow.
I will provide personal information, driving licence.
I'm in Canada, I pay $0.075/KW.

Thanks.

[ciuciu]

This was fast! Somebody already deleted all my hosts. I will redo it and show it when there is interest from an investor.

Thanks.

[ciuciu]

The link is again working.



Thanks.

[BinaryMage]

I understand the problem, unfortunately it takes too much time.
As proof, here is a link to my anubis page, hosted on my home computer http://173.246.21.102/anubis/
Two hosts are on wireless and sometime they do not show up. I can provide pictures.

Thanks.

It takes too much time? Why? That makes me, with all due respect, suspicious.

That page proves nothing; it's already been shown as editable.

No hostility intended, but I suspect people will be skeptical of someone who says they "don't have time" to prove their mining capability and doesn't provide any references.

[Sukrim]

Well, maybe the OP can at least post unedited pictures of his rigs + a handwritten piece of paper or something like this...

[ciuciu]

Good morning,

Here are 2 pics:


Thanks.

[ciuciu]

Hi,

I will have to change the start up procedure for all the rigs and this take time. I also mine at 110% PPS and I will lose money.
If you follow the link you will see that the page changes the numbers in a few seconds, it is impossible to edit it continuously.
If you are not familiar with Anubis you can find details about it on the forums.

Thanks.

I understand the problem, unfortunately it takes too much time.
As proof, here is a link to my anubis page, hosted on my home computer .
Two hosts are on wireless and sometime they do not show up. I can provide pictures.

Thanks.

It takes too much time? Why? That makes me, with all due respect, suspicious.

That page proves nothing; it's already been shown as editable.

No hostility intended, but I suspect people will be skeptical of someone who says they "don't have time" to prove their mining capability and doesn't provide any references.

[DILLIGAF]

I've been watching this and see all this negativity against this proposal. What is the problem he did not ask for ten of thousands of dollars like the rest this offer is a modest little idea. And that is probably the problem too sensible an idea for the great thinkers on here...

[ciuciu]

Hi,

Thanks for the support, I was starting to think it is a bad idea.
I try to move in small steps and always cover the capacity I sell bonds for.
I can fully cover the 5GB/s from my own ming farm until the BFL singles arrive. I'm also ready to put a collateral of 500 Gigamining shares. If any trusted forum member is in the Montreal area, he can come and see my operation.

Thank you.

[Sukrim]

I've been watching this and see all this negativity against this proposal. What is the problem he did not ask for ten of thousands of dollars like the rest this offer is a modest little idea. And that is probably the problem too sensible an idea for the great thinkers on here...

125 shares * 10 BTC = 1250 BTC (currently ~6k USD). He is asking for at least thousands of dollars. Also it's not clear yet what "40 MH/s" mean - as he mines at 110% PPS, will he pay whatever he's mined with 5 of his Gigahashes or does he "only" want to pay 100% PPS and keep the additional 10% for himself?

I personally think it might be a bit hasty and not thought through to start with this on the 16th of April already, however as I've seen the pictures I'm at least convinced the OP should have the hashing power he claims. To just get this hardware would make it probably not worthwile to run this as a complete scam... if it gets listed on GLBSE + identity verified (or simply publicly disclosed - it's not like you're doing something illegal here) I guess the OP might find investors, if reasonably priced.

[ciuciu]

I currently mine at 110% PPS, but it can change at anytime, so it is only 100% PPS.
Thinking like this, also GIGAMINING is mining on Gpumax and it gets more than 100% PPS.

I will go ahead and issues the shares on GLBSE. I will provide all my contact informations.

Thank you.

I've been watching this and see all this negativity against this proposal. What is the problem he did not ask for ten of thousands of dollars like the rest this offer is a modest little idea. And that is probably the problem too sensible an idea for the great thinkers on here...

125 shares * 10 BTC = 1250 BTC (currently ~6k USD). He is asking for at least thousands of dollars. Also it's not clear yet what "40 MH/s" mean - as he mines at 110% PPS, will he pay whatever he's mined with 5 of his Gigahashes or does he "only" want to pay 100% PPS and keep the additional 10% for himself?

I personally think it might be a bit hasty and not thought through to start with this on the 16th of April already, however as I've seen the pictures I'm at least convinced the OP should have the hashing power he claims. To just get this hardware would make it probably not worthwile to run this as a complete scam... if it gets listed on GLBSE + identity verified (or simply publicly disclosed - it's not like you're doing something illegal here) I guess the OP might find investors, if reasonably priced.

[ciuciu]

Hi,

I created an asset on GLBSE https://glbse.com/asset/view/CANMINE

Thank you very much to the investors, I will make all my future actions very transparent.

[Andrey]

Congratulations and good luck!

[TheOtherGuy]

GLBSE is showing 1250 shares issued. Didn't the OP say 125 shares?

[ciuciu]

By mistake I entered 1250 instead of 125. I contacted GLBSE support and they told me it can't be modified at this time. Next week after they upgrade the website it will be possible to modify it.
I'm in the process to verify my information with GLBSE.

Thanks.

GLBSE is showing 1250 shares issued. Didn't the OP say 125 shares?

[ciuciu]

I'm not familiar with the escrow services. Where can I find some information about Kluge?
I will try to ask GLBSE to remove the sell option for my 500 Gigamining shares for a year, if this is OK with the investors.

Thanks.

I can offer a collateral of 500 shares in GIGAMINING I bought a few days ago. I can try to speak at GBLSE to remove the sell option on my account and keep them in escrow.
I will provide personal information, driving licence.
I'm in Canada, I pay $0.075/KW.

Thanks.

Kluge offers an escrow service. I'm sure he would be happy to hold these bonds for you for a small fee. If you did that I would have some faith in this.

Thanks