Diablo Mining Company

[EskimoBob]

Right. Now, can you post the link to DMC portfolio? 

[DiabloD3]

Right. Now, can you post the link to DMC portfolio? 

Wait until I do the monthly report. It should come out sometime today.

[DiabloD3]

Happy Dividend Day!

Shares sold to date: 4066
Dividends paid out today: 30.98172586 BTC
Dividends per share paid out today: 0.00761970631087064 BTC

Dividends paid out for all time: 41.114581505 BTC
Dividends paid out for all time per share:0.013236588597456  BTC
Money uninvested: 0.00 BTC

Shares held total:
15 GIGAMINING (5 mhash) = 15.00 BTC (75 mhash)
1784 YABMC (1 mhash) = 328.26 BTC (1784 mhash)
1053 BMMO (1 mhash) = 195.86 BTC (1053 mhash)
849 TYGRR.BOND-A (1 mhash) = 169.80 BTC (849 mhash)
994 BTCMC (5 mhash) = 755.20 BTC (4970 mhash)
941 OBSI.1MHS (1 mhash) = 178.79 BTC (941 mhash)
4 RSM (1.3 mhash) = 5.20 BTC (5 mhash)
450 BMF (3 mhash*) = 445.05 BTC (1350 mhash)
98 BFLS.RIG (4.15 mhash) = 68.60 BTC (407 mhash)
140 SYNERGY (1 mhash) = 27.72 BTC (140 mhash)

*: BMF is not a mining stock, but I'm valuing it at 3 mhash each

Total investments: 2189.48 BTC
Total hashing power: 11574 mhash (equivalent to 0.575 mhash/$)
Approximately 2.846 mhash per share

Increase in asset value: 89.9%
Increase in mhash: 189.2%
Increase mhash/$ efficiency: 27.7%

Announcements:
Last month I announced that "Bonds for DMC" would be changing to 2.5 mhash from 2.25 mhash on July 1st. However, due to the rapid growth of Diablo Mining Company's assets, we are skipping 2.5 and 2.75 mhash per share and going straight to 3.00 mhash per share.

The bond trading chart is available at http://caspar.adterrasperaspera.com/dmc/trade/

In addition, I am raising the IPO share price from 1.00 BTC to 1.025 BTC to reflect asset growth and protect early shareholder value.

[P4man]

asset growth?
I may be missing something, but didnt you sell 4066 shares at 1 BTC while your holdings are currently worth 2189 BTC at market rate (and you will never even be able to actually sell for that much)?

[DiabloD3]

asset growth?
I may be missing something, but didnt you sell 4066 shares at 1 BTC while your holdings are currently worth 2189 BTC at market rate (and you will never even be able to actually sell for that much)?

Yup, you're missing things. Don't worry, it happens to even the best of us.

[P4man]

You mean the 41BTC paid in dividends or something that actually matters?

[P4man]

I just checked the value of your bonds today:

15 GIGAMINING (5 mhash) = 15.00 BTC (75 mhash)  15
1784 YABMC (1 mhash) = 328.26 BTC (1784 mhash)  285
1053 BMMO (1 mhash) = 195.86 BTC (1053 mhash)  206
849 TYGRR.BOND-A (1 mhash) = 169.80 BTC (849 mhash) 144
994 BTCMC (5 mhash) = 755.20 BTC (4970 mhash) 746
941 OBSI.1MHS (1 mhash) = 178.79 BTC (941 mhash) 150
4 RSM (1.3 mhash) = 5.20 BTC (5 mhash) 1
450 BMF (3 mhash*) = 445.05 BTC (1350 mhash)
98 BFLS.RIG (4.15 mhash) = 68.60 BTC (407 mhash)
140 SYNERGY (1 mhash) = 27.72 BTC (140 mhash) 25

total of ~2085 BTC. Assuming market depth would actually allow you to sell them all at those prices, in reality its going to be a lot less. Add the 41 BTC you paid in dividends and so far, you have managed to lose almost exactly half your investors money while claiming to make profits.
Really, you should start buying greek debt, your profits will soar!

[DiabloD3]

I just checked the value of your bonds today:

15 GIGAMINING (5 mhash) = 15.00 BTC (75 mhash)  15
1784 YABMC (1 mhash) = 328.26 BTC (1784 mhash)  285
1053 BMMO (1 mhash) = 195.86 BTC (1053 mhash)  206
849 TYGRR.BOND-A (1 mhash) = 169.80 BTC (849 mhash) 144
994 BTCMC (5 mhash) = 755.20 BTC (4970 mhash) 746
941 OBSI.1MHS (1 mhash) = 178.79 BTC (941 mhash) 150
4 RSM (1.3 mhash) = 5.20 BTC (5 mhash) 1
450 BMF (3 mhash*) = 445.05 BTC (1350 mhash)
98 BFLS.RIG (4.15 mhash) = 68.60 BTC (407 mhash)
140 SYNERGY (1 mhash) = 27.72 BTC (140 mhash) 25

total of ~2085 BTC. Assuming market depth would actually allow you to sell them all at those prices, in reality its going to be a lot less. Add the 41 BTC you paid in dividends and so far, you have managed to lose almost exactly half your investors money while claiming to make profits.
Really, you should start buying greek debt, your profits will soar!

Yawn, if you're going to troll, try harder.

[miscreanity]

asset growth?
I may be missing something, but didnt you sell 4066 shares at 1 BTC while your holdings are currently worth 2189 BTC at market rate (and you will never even be able to actually sell for that much)?

Yup, you're missing things. Don't worry, it happens to even the best of us.

I assume you're referring to the DMC share price of ~0.5BTC adding up to about 2k?

Also, this is not to single you out as many mining outfits will have to deal with this:

What contingency plan do you have, if any, for being within a business-hostile environment that has granted itself the authority to seize assets as it sees fit, offering no recourse? Might it be better to have multiple smaller, independent facilities in geopolitically diverse locations?

[DiabloD3]

asset growth?
I may be missing something, but didnt you sell 4066 shares at 1 BTC while your holdings are currently worth 2189 BTC at market rate (and you will never even be able to actually sell for that much)?

Yup, you're missing things. Don't worry, it happens to even the best of us.

I assume you're referring to the DMC share price of ~0.5BTC adding up to about 2k?

Also, this is not to single you out as many mining outfits will have to deal with this:

What contingency plan do you have, if any, for being within a business-hostile environment that has granted itself the authority to seize assets as it sees fit, offering no recourse? Might it be better to have multiple smaller, independent facilities in geopolitically diverse locations?

Facilities, plural, still costs money. The DC I'm looking at building (either flat out, or buying a small warehouse no one wants anymore) is going to be around 100 square feet, or room enough for a dozen racks or so.

Also, its not like it wasn't business-hostile to begin with. We (me, investors, the Bitcoin community at large) all went into Bitcoin 3 years ago knowing the outside world there is business-hostile. This isn't really anything new. That said, GLBSE is panicing because Bitcoin prices are going up., thus the prices of all assets are going down.

The contingency plan is to continue, well, as planned. I don't think even if the entire world tried to stop Bitcoin, it could. No matter how much Congress tries to stop entrepreneurs like me from helping local economies and paying taxes and improving the quality of life of the citizens of this country, they can never stop us.

The contingency plan is me flipping Congress the bird and continuing to be more awesome than they can ever imagine.

[miscreanity]

The contingency plan is me flipping Congress the bird and continuing to be more awesome than they can ever imagine.

This came to mind

[mc_lovin]

I think buying a used facility will be much cheaper than building one.

[P4man]

I think buying a used facility will be much cheaper than building one.

Yeah. With what will be left of his IPO funds after having to sell those bonds, Im sure he can afford a nice building



Sometimes I wonder what planet some of you live on.

[DiabloD3]

I think buying a used facility will be much cheaper than building one.

This has already been discussed. If I can find a building that suits my needs, I will acquire that instead.

[EskimoBob]

P4man, your sure have a sad view from your house window.

Code:

2012-07-03              Price
GIGAMINING      15    0.9800   14.7000
YABMC         1784    0.1800  321.1200
BMMO          1053    0.1957  206.0721
TYGRR.BOND-A   849    0.1700  144.3300
BTCMC          994    0.8189  813.9866
OBSI.1MHS      941    0.1600  150.5600
RSM              4    0.2500    1.0000
BMF            450    0.9890  445.0500
BFLS.RIG        98    0.7000   68.6000
SYNERGY        140    0.1750   24.5000

            Total V in BTC  2,189.9187
            Srs outst.      4,068   
            NAV?                0.5383

What I did not find is DMC's income from dividends, paid by all the turds in the portfolio.

P4man, you sure have a sad view from your apartment window. 

[DiabloD3]

What I did not find is DMC's income from dividends, paid by all the turds in the portfolio.

Take what I paid total this month and double it.

[DiabloD3]

A lot of people are questioning Butterfly Labs' commitment to the Bitcoin community, and a lot of people are even coming right out and calling it a scam or a long con or the end of Bitcoin.

I cannot help but agree with these people.

Without a second vendor producing hardware just as efficient and cheap as Butterfly Labs claims their new Bitforce SC hardware is, I do not believe Butterfly Labs is being completely honest with potential customers.

Because of how Butterfly Labs has handled customer relations, Diablo Mining Company will never purchase Butterfly Labs hardware. We will pursue high-efficiency FPGA and ASIC hardware from alternate vendors only.

Diablo Mining Company will be the largest Bitcoin startup in the world, and we will do it without the help of Butterfly Labs.

[Transisto]

Good that you hold principles, And hope a silent ASIC vendor come out soon enough.

[DiabloD3]

As a reminder, dividend day is coming soon. Be sure to have any share purchases done before August 1st.

[P4man]

Are you paying dividends or coupons?
Dividends are paid on profits, not revenue. To calculate profits, you cant keep ignoring the fact the bonds you hold are way under water particularly since AFAIK, those bonds are your company's only asset. You are essentially acting like the banks did before the housing bubble burst, paying dividends (and bonuses) based on profits that didnt exist because they didnt write off their toxic assets. You can keep doing that for a while, but eventually your investors will figure it out.