[BitFunder][RTM] Rastamine - 22+ Th/s perpetual mining bond

[rastapool]

Dear miners and investors, I want to offer you my mining bonds.

What I offer:
bonds, 1Mh/s each, currently only 2500, but I will increase this amount over time.
Payouts at least 105% PPS, and at least once per week.
The bond will never expire.
I reserve the option to repurchase bonds at 110% of the highest traded price over the last 15 days.

ASIC update path

Once BLF will start selling their ASIC devices, I'll buy them. And once, I'll start recieve bitcoins from the ASIC miners, I'll increase my bonds payouts in 6 times, up to 630% PPS. Also I'll create a new mining bonds with 4x that value (25.2 mhs/s 100% PPS) and will offer 0.12 BTC update from the JAH to that bonds 1:1.
Why don't I make BFL-preorder? Because it's just a money locking, it's sensless: there are no way to produce a few ASIC chips. If BFL will success, then they will have at least tens of thousands chips, or even more then 100,000. This is totally different situation compared to BFL FPGA devices. In their interest to produce and sell the devices as quick as they can. So I decided to not make preorder, but wait. When and if BFL will success, I'll buy their ACIS devices.
Also as a backup option, I already bought ASICMINER shares. So, if ASICMINER will pay for shares before BFL success I'll also will start my update.

Once I'll start recieving bitcoins from ASIC miners, I'll offer updates:
Free: 1 Mh/s 105% PPS Rastamine bond will update up to at least 630% PPS.
Paid: 1 Rastamine bond + 0.12 BTC for 1 at least 25.2 mh/s 100% PPS bond.

Where my postASIC bitcoins will came from:
1. I'll order ASIC devices from BFL, once they'll start selling it.
2. I already have ASICMINER shares.

*If BFL devices will have speed/price lower than 80% from anounced, I'll change my offer. Also if ASICMINER will pay less then 80% from anounced, I'll change my offer.

About Me
I'm Ukrainian miner. Most of you don't know me, but currently I'm working on obtaining the "verified" status on GLBSE.

https://glbse.com/asset/view/JAH
https://bitfunder.com/asset/JAH

https://bitfunder.com/asset/RTM
[RTM] https://bitcointalk.org/index.php?topic=77121.msg2017875#msg2017875

The holder of these bonds will receive as coupons a number of bitcoins equivalent to 100% PPS output of 25.2 MH/s per bond, for as long as they hold the bond.

Dividends
Dividends are paid at weekly or more often in bitcoins.

BuyBack
The issuer can buy back the bond at any time at a price equal to 105% of the highest price the asset was traded on BitFunder over the prior 360 hours.

I'm reading this forum more often than my e-mail. So if you sent e-mail, please send me also PM with notification. Ore just use PM directly if message it allows.

[rastapool]

Q: How much mining power do you really have now?
A: Currently I have 5 Gh/s.

Q: If some of your hardware breaks down, how could you pay the dividends?
A: I have enough own hardware to cower this situation. And I have more than 100 BTC in reserve in case contingencies.

first payment: 2012-04-26 at 00:01. Payment for period from start to 2012-04-25 23:59 UTC

Code:

Payment date    |	Total paid |	 Shares paid |	Payment per share
2012-04-25 19:01	0.31399952	67		0.00468656
2012-04-27 00:01	0.05903948	73		0.00080876
2012-04-28 00:01	0.30033003	429		0.00070007
2012-04-29 00:01	0.31083108	444		0.00070007
2012-04-30 00:01	0.32343234	462		0.00070007
2012-05-01 00:01	0.37383738	534		0.00070007
2012-05-02 00:01	0.58455845	835		0.00070007
2012-05-03 00:01	0.73157315	1045		0.00070007
2012-05-04 00:01	0.8610984	1230		0.00070008
2012-05-05 00:02	1.050105	1500		0.00070007		#got 502 at 00:01 (
2012-05-06 00:02	1.050105	1500		0.00070007		#got Internal Server Error at 00:01
2012-05-07 00:01	1.050105	1500		0.00070007
2012-05-08 00:01	1.050105	1500		0.00070007
2012-05-09 00:01	1.050105	1500		0.00070007
2012-05-10 00:09	1.050105	1500		0.00070007		#
2012-05-11 00:01	0.99999258	1641		0.00060938
2012-05-12 00:01	1.06086094	1741		0.00060934
2012-05-13 00:01	1.15226194	1891		0.00060934
2012-05-14 00:01	1.18029158	1937		0.00060934
2012-05-15 00:01	1.21868		2000		0.00060934
2012-05-16 00:01	1.21868		2000		0.00060934
2012-05-17 00:01	1.21868		2000		0.00060934
2012-05-18 00:01	1.21868		2000		0.00060934
2012-05-19 00:01	1.21868		2000		0.00060934		#next payment: 05/21
2012-05-21 00:01	2.559984	2100		0.00121904
2012-05-22 00:01	1.2857074	2110		0.00060934
2012-05-23 00:01	1.29058212	2118		0.00060934
2012-05-24 00:01	1.32409582	2173		0.00060934
2012-05-25 00:01	1.44569106	2178		0.00066377
2012-05-26 00:01	1.44969552	2184		0.00066378
2012-05-27 00:01	1.45033745	2185		0.00066377
2012-05-28 00:01	1.50476659	2267		0.00066377
2012-05-29 00:01	1.62897768	2311		0.00070488
2012-05-30 00:01	1.53530001	2313		0.00066377
2012-05-31 00:01	1.593048	2400		0.00066377
2012-06-01 00:01	1.6063234	2420		0.00066377
2012-06-02 00:02	1.61893503	2439		0.00066377		#
2012-06-03 00:01	1.65945		2500		0.00066378
2012-06-04 00:01	1.65945		2500		0.00066378
2012-06-05 00:01	1.65945		2500		0.00066378
2012-06-06 00:01	1.65945		2500		0.00066378
2012-06-07 00:01	1.65945		2500		0.00066378
2012-06-08 00:01	1.66775		2500		0.0006671
2012-06-09 00:01	1.66775		2500		0.0006671
2012-06-10 00:01	1.66775		2500		0.0006671
2012-06-11 00:01	1.7764873	2663		0.0006671
2012-06-12 00:01	1.841196	2760		0.0006671
2012-06-13 00:01	1.8672129	2799		0.0006671
2012-06-14 00:01	1.8838904	2824		0.0006671
2012-06-15 00:01	1.8872259	2829		0.0006671
2012-06-16 00:01	1.8872259	2829		0.0006671
2012-06-17 00:01	1.8932298	2838		0.0006671
2012-06-18 00:01	1.8978995	2845		0.0006671
2012-06-19 00:01	1.9699463	2953		0.0006671
2012-06-20 00:01	1.9766173	2963		0.0006671
2012-06-21 00:01	2.1994287	3297		0.0006671
2012-06-22 00:01	2.0164452	3297		0.0006116
2012-06-23 00:01	2.143658	3505		0.0006116
2012-06-24 00:01	2.1638408	3538		0.0006116
2012-06-25 00:01	2.1638408	3538		0.0006116
2012-06-26 00:05	2.1950324	3589		0.0006116		#got "Website currently unavailable" at 00:01
2012-06-27 00:01	2.2066528	3608		0.0006116
2012-06-28 00:01	2.2457952	3672		0.0006116
2012-06-29 00:01	2.2457952	3672		0.0006116
2012-06-30 00:01	2.2488532	3677		0.0006116
2012-07-01 00:01	2.2488532	3677		0.0006116
2012-07-02 00:01	2.2818796	3731		0.0006116
2012-07-03 00:01	2.2892188	3743		0.0006116
2012-07-04 00:01	2.2928884	3749		0.0006116
2012-07-05 00:01	2.3112364	3779		0.0006116
2012-07-06 00:01	2.278737	3779		0.000603
2012-07-07 00:01	2.279943	3781		0.000603
2012-07-08 00:01	2.282958	3786		0.000603
2012-07-09 00:01	2.282958	3786		0.000603
2012-07-10 00:01	2.2914		3800		0.000603
2012-07-11 00:01	2.2914		3800		0.000603
2012-07-12 00:01	2.2914		3800		0.000603
2012-07-13 00:05	2.2914		3800		0.000603		#
2012-07-14 00:01	2.2914		3800		0.000603
2012-07-15 00:01	2.2914		3800		0.000603
2012-07-16 00:01	2.293209	3803		0.000603
2012-07-17 00:02	2.316123	3841		0.000603		#
2012-07-18 00:01	2.320344	3848		0.000603
2012-07-19 00:01	2.1826763	3857		0.0005659
2012-07-20 00:01	2.2262506	3934		0.0005659
2012-07-21 00:01	2.2268165	3935		0.0005659
2012-07-22 00:01	2.2477548	3972		0.0005659
2012-07-23 00:01	2.2636		4000		0.0005659
2012-07-23 00:01	2.2636		4000		0.0005659
2012-07-24 00:01	2.2636		4000		0.0005659
2012-07-25 00:01	2.2636		4000		0.0005659
2012-07-26 00:01	2.2636		4000		0.0005659
2012-07-27 00:01	2.2636		4000		0.0005659
2012-07-28 00:01	2.2636		4000		0.0005659
2012-07-29 00:01	2.2636		4000		0.0005659
2012-07-30 00:01	2.2636		4000		0.0005659
2012-07-31 00:01	2.2636		4000		0.0005659
2012-08-01 00:01	2.0744		4000		0.0005186
2012-08-02 00:01	2.0744		4000		0.0005186
2012-08-03 00:01	2.0744		4000		0.0005186
2012-08-04 00:22	2.0744		4000		0.0005186
2012-08-05 00:01	2.0744		4000		0.0005186
2012-08-06 00:04	2.0744		4000		0.0005186
2012-08-07 00:01	2.0909952	4032		0.0005186
2012-08-08 00:01	2.1003705	4050		0.00051861
2012-08-09 00:01	2.1003705	4050		0.00051861
2012-08-10 00:01	2.1034416	4056		0.0005186
2012-08-11 00:01	2.04478562	4058		0.00050389
2012-08-12 00:01	2.20446792	4058		0.00054324
2012-08-13 00:01	2.15219		4150		0.0005186
2012-08-15 00:01	4.009979	4150		0.00096626		##
2012-08-16 00:01	2.000964	4150		0.00048216
2012-08-17 00:01	2.000964	4150		0.00048216
2012-08-18 00:01	2.000964	4150		0.00048216
2012-08-19 00:01	2.000964	4150		0.00048216
2012-08-20 00:01	2.000964	4150		0.00048216
2012-08-21 00:01	2.000964	4150		0.00048216
2012-08-22 00:03	2.000964	4150		0.00048216
2012-08-23 00:01	2.000964	4150		0.00048216
2012-08-24 00:01	2.000964	4150		0.00048216
2012-08-25 00:01	2.000964	4150		0.00048216
2012-08-26 00:01	1.7999795	4150		0.00043373
2012-08-27 00:01	1.7999795	4150		0.00043373
2012-08-28 00:01	1.7999795	4150		0.00043373
2012-08-29 00:01	1.7999795	4150		0.00043373
2012-08-30 00:01	1.7999795	4150		0.00043373

[friedcat]

Could you give an estimation on how would your shares be priced?

How much mining power do you really have now? If you only have 2.5GH/s, if some of your hardware breaks down, how could you pay the dividends?

[Raoul Duke]

Could you give an estimation on how would your shares be priced?

How much mining power do you really have now? If you only have 2.5GH/s, if some of your hardware breaks down, how could you pay the dividends?

Perhaps he's using the money from the bonds sale to buy more mining hardware, no?

[friedcat]

Could you give an estimation on how would your shares be priced?

How much mining power do you really have now? If you only have 2.5GH/s, if some of your hardware breaks down, how could you pay the dividends?

Perhaps he's using the money from the bonds sale to buy more mining hardware, no?

Maybe, but the current OP gives so little information.

[rastapool]

Perhaps he's using the money from the bonds sale to buy more mining hardware, no?

Now I have 3.5 + 1 (in near future) without money from bonds. Yes, I will use money from bonds for future purchases.

Could you give an estimation on how would your shares be priced?

Considering market prices, I think 0.3 or close is a good price.

[friedcat]

It seems that mining bonds are becoming a money making machine for bond issuers. I understand people's craziness to buy them, but it is very unprofessional to just throw out some data in the OP and wait for shining coins from bidders.

We would be very happy and consider buying a considerable amount of them, if you could answer these questions:

1. How do you support the bonds? By real tangible computation power, or other sources of income?

2. If the answer to 1 is the former, could you put some pictures of your mining rigs and the transaction data of your mining pool online?

3. Do you have backup plans for emergency?

[rastapool]

Could you put some pictures of your mining rigs and the transaction data of your mining pool online?

Soon I'll show you pictures of my rigs

[Sukrim]

Why "at least" 105% PPS of 1 MH/s and not 100% PPS of 1.05 MH/s?

After all you have to think about the fact that after ~1 year (or a bit more) you'll have to mine completely for free to bondholders - indefinitely or until you buy back bonds. Are you really up for this or do you just want to get a cheap loan so you can order some BFL equipment and after a few weeks/months buy back? Maybe think of ways how you could convince me (and others) that this is not the case.

[rastapool]

Why "at least" 105% PPS of 1 MH/s and not 100% PPS of 1.05 MH/s?

Because I have more than 100% PPS: Goat mining pool, Clipse, GPUMax, whatever. I have more than 100% PPS, and I offer more than 100% PPS. Technically it is the same with 1.05 MH/s, but 105% is more honest.

Are you really up for this or do you just want to get a cheap loan so you can order some BFL equipment and after a few weeks/months buy back?

1. Even if this is true. Aren't it's profitable for investors? 110% + weekly dividends?
2. This is not true. But how can I convince you (and others)?

[rastapool]

As far I can see, my bond is the cheapest offer on the market.

[BinaryMage]

Verified: Email Address. IPO launched before any demonstrated interest, clarification of contract, references, or community feedback. No response to important queries (plans in case of emergency, pictures of rigs, etc). Both an email and stats on a pool are easy to fabricate or rent. So far, you have provided no tangible proof of identity, not answered serious questions, and launched without fixing or addressing any of these problems.

Starting to smell like mackerel to me...

[rastapool]

Verified: Email Address

I'm Ukrainian, and there are some issues to verify my ID on GLBSE.

IPO launched before any demonstrated interest, clarification of contract, references, or community feedback.

I selling mining bonds, one bond, one Mh/s. My contract is pretty simple, I don't see, what side of it may need some clarification. Community feedback? If you like it, you buying it, if no, than no, that is the best feedback.

plans in case of emergency

I thought that I currently answer of that question. I have more mining power, that I selling, and I have money reserve in BTC. If this is not an answer, that, probably, I do not clearly understand the question. What kind of emergency?

etc

What kind of etc?

pictures of rigs

[Raoul Duke]

WOOD!?!?!? That shit will catch on fire, dude!

[marked]

WOOD!?!?!? That shit will catch on fire, dude!

Can fans running fully  function fully off-axis?

marked

[BinaryMage]

I'm Ukrainian, and there are some issues to verify my ID on GLBSE.

I'm sure that there are, and I bear no ill intent. Just understand that you have the burden of proof here.

I selling mining bonds, one bond, one Mh/s. My contract is pretty simple, I don't see, what side of it may need some clarification. Community feedback? If you like it, you buying it, if no, than no, that is the best feedback.

If no one buys it, it isn't much of an IPO, is it? I assume you want to sell these; I'm trying to help you by showing why, and least IMHO, people aren't buying them.

I thought that I currently answer of that question. I have more mining power, that I selling, and I have money reserve in BTC. If this is not an answer, that, probably, I do not clearly understand the question. What kind of emergency?

You didn't, not in this thread at least. Thank you for answering.


And thank you for posting pictures of your rigs. They're certainly quite inventively constructed.

[rastapool]

Just understand that you have the burden of proof here.

Yea, I'm working on it.
And I'm grateful for showing my weak sides.

Can fans running fully  function fully off-axis?

Don't see why not.

WOOD!?!?!? That shit will catch on fire, dude!

They will not. I do not smoke near them, dude.

[xkrikl]

Do you plan to get verified by Nefario anything else than just email address?

[rastapool]

Yes, I planned, but my plans end reality goes different ways, and I can do nothing with this.
I sent my docs last week, but I still don't received answer from Nefario.

[rastapool]

My first payment.
GLBSE-time and UTC are different times, probably I will switch to GLBSE time.
Temporarily I will make payments more frequently than once a week.