[BTC-TC] BTC-Mining

[Namworld]

Well, we got our hashing deal finalized and motion passed 60 Yes to 0 Nay. Refer to main post for announcement.

[gewure]

bought 23 shares

[Namworld]

Thanks.

First hashing power purchase from amazing should be this weekend and start getting us some good dividends. Will keep you all updated on the amount.

[Namworld]

Well first dividend is approaching. It will be for only one day of mining, but at least we have hashing power now.

[Namworld]

First mining returns of 1.64283078 BTC paid @ 0.00241238 BTC per share for the 5th May of 2012

Only for a day and a few hours extra, almost 0.25% daily. Will vary according to current mining bonds purchased from Amazingrando.

[Namworld]

Mining returns of 10.76103908 BTC paid @ 0.01550582 BTC per share for the week of 6th May to the 12th May of 2012

[gewure]

someone buy more shares please, and faster

[Namworld]

Eh, well that's certainly something I'd like.

Not sure people are quite aware we started giving out mining returns. And at a better rate than other mining operations considering the price we get the hashing. Well at least returns are good so current investors should be able to reinvest if they wish.

[MaxSan]

For anyone interested, I purchased a small numer of shares and the reinvestment they selected pays very well. I think I calculated it to 39% yearly return.

[Namworld]

It's around 3.63 mhash/BTC with the private bonds I'm purchasing, so should give around 0.064 BTC per month on each share, depending on how much hashing I purchased with the funds. 0.64 x 12 = 0.768 = 76.8% yearly return. (At current difficulty). (It's 100% returned on those, and not 50%)

Of course it will almost double after we're fully funded and issuer of those bonds purchase them back and we order the actual mining rigs.

An estimated 3.75 mhash/BTC cashed out for purchasers - 3 mhash/BTC for new equipment - 0.75mhash for electricity and administration.

[Tritonio]

Hi Namworld. I really wish you good luck on that. I really hope this goes well. Have you considered the x6500 mining cards? The are more expensive but use even less power. I don't know if buying them in bulk would bring their price down closer to the mini-rigs.

For the record I was mostly attracted by the mining split (10-40-50) which seem pretty rational to me.

One question. When you sell about 3250 shares, you are logically going to buy the first rig. When you sell another 1000 shares, how are the profits going to be split? It will seem like our shares are diluted until the second rig is bought? Or will you consider buying mining bonds during that time? (like you did now, or directly on GLBSE)

Best of luck. I will tell a friend to consider buying some shares too since he's got some BTC just sitting there...

Also you should get on #bitcoin-assets if you don't do so already.

Oh and do those rigs have any warranty?

Edit: this is probably the most unstructured post I've ever typed.

[Namworld]

I am placing funds reserved for new equipment in bonds which pays pretty close to the 50% returns on a mini-rig, which shouldn't dilute the purchasing power. (Will be bought back by the end of august by issuer). I might try and negotiate an extension if necessary until all 10000 shares are sold, or buy bonds on GLBSE (will require an extra motion for those options)

The minirig have no extensive warranty (I heard 6 months, don't remember if that's noted somewhere on the website, haven't seen it), but their internal hardware consists of an array of small boards with two processors each (just like the Single). No moving parts makes those kind of components last long. Components that may fail faster than other usually include hard disk drives and such. Of course the processors might break over time, but those boards can be replaced/re-added. It's mostly a modular product when you look inside it. Replacing fans/boards inside should be as easy as replacing components in your computer, as far as I know.

x6500 cards gives 0.70 mhash/$ compared to 1.63mhash/$ on Mini-Rig. More than twice the bang for your bucks.
Minirig is about 20 mhash/w, x6500 cards are 23.25mhash/w. Really not a big difference.

MiniRig is a good option, but the cost of entry are prohibitive.

[gewure]

the faster people buy into the IPO, the faster the dividends will rise. go on, ppl.

[ciuciu]

Cut to 40% for reinvesting. If the operation is a success, you will get funds easily on GLBSE for more units.
For the other investors, I'm in Montreal too and I can check on him

[Namworld]

Mining returns of 10.57820733 BTC paid @ 0.01257813 BTC per share for the week of 13th May to the 19th May of 2012

[Tritonio]

Namword could you please mention BTC-MINING somewhere on http://www.namworld.net/ ? Just to make sure you really own that site/company. :-)

Oh and will you buy more bonds as more people buy shares? Or are we going to split up the current bond dividents among all shareholders until you buy the rig?

Best of luck.

[Namworld]

My info verified by GLBSE is technically he info matching the business registration for it (I got a post about that on first page).

If you want to verify that personally, you could try sending me an email directly on that website maybe? I'll answer you.

Also, yes, I'm purchasing more bonds each weekend as new funds are added. (Usually Saturday, for the next Sunday - Saturday week. We're usually paid Sunday or later for the previous Sunday to Saturday)

[Tritonio]

Just posting to say that Namworld (the user above me) answered to me when I emailed him at the email address on http://www.namworld.net/  So he is actually namworld.net.

[Namworld]

Mining returns of 12.6672819 BTC paid @ 0.01392009 BTC per share for the week of 20th May to the 26th May of 2012

[Namworld]

Mining returns of 22.14361568 BTC paid @ 0.01172861 BTC per share for the week of 27th May to the 2nd June of 2012