Diablo Mining Company

[DiabloD3]

Happy Dividend Day!

Shares sold to date: 2993
Dividends paid out today: 39.272852185 BTC
Dividends per share paid out today: 0.0131215677196793 BTC
Uninvested: 1.95316165 BTC

Dividends paid out for all time: 80.38743369 BTC
Dividends paid out for all time per share: 0.0263581563171353 BTC

Shares held total:
46 BITBOND (2.1 mhash) = 21.62 BTC (97 mhash)
324 YABMC (1 mhash) = 51.84 BTC (324 mhash)
188 BMMO (1 mhash) = 30.08 BTC (188 mhash)
21 ZETA-MINING (1 mhash) = 4.10 BTC (21 mhash)
735 TYGRR.BOND-A (1 mhash) = 121.28 BTC (735 mhash)
994 BTCMC (5 mhash) = 793.21 BTC (4970 mhash)
567 PIMP (1 mhash) = 119.00 BTC (567 mhash)
121 BFLS.RIG (4.15 mhash) = 118.58 BTC (502 mhash)
134 HYDRO.BONDS (10 mhash) = 213.06 BTC (1340 mhash)
40 PAJKA.BOND (0.363 mhash) = 4.00 BTC (15 mhash)

Total investments: 1476.77 BTC
Total hashing power: 8759 mhash (equivalent to 0.601 mhash/$)
Approximately 2.926 mhash per share

Announcements:
"Bonds for DMC" now requires 3.25 mhash per DMC over last month's 3.00. The bond trading chart is available at http://caspar.adterrasperaspera.com/dmc/trade/

Due to the rapid increase of the price of BTC, I am moving the share price back down to 1.0 BTC each.

[P4man]

It will not be impacted. What I just did was disclose a flaw in the plan: the plan is much more profitable than I originally realized. Oops.

Mine bitcoins with constant hashrate while difficulty increases by two orders of magnitude, and suffer no impact to your bottom line? Yeah, Im sure that is more profitable than anyone realizes.  The scary part is that some people might actually fall for it.

[DiabloD3]

It will not be impacted. What I just did was disclose a flaw in the plan: the plan is much more profitable than I originally realized. Oops.

Mine bitcoins with constant hashrate while difficulty increases by two orders of magnitude, and suffer no impact to your bottom line? Yeah, Im sure that is more profitable than anyone realizes.  The scary part is that some people might actually fall for it.

Difficulty goes up 2x. People pay over half a million dollars a month to lease my racks.
Difficulty goes up 100x. People STILL pay over half a million dollars a month to lease my racks.

So, whats the problem?

[P4man]

It will not be impacted. What I just did was disclose a flaw in the plan: the plan is much more profitable than I originally realized. Oops.

Mine bitcoins with constant hashrate while difficulty increases by two orders of magnitude, and suffer no impact to your bottom line? Yeah, Im sure that is more profitable than anyone realizes.  The scary part is that some people might actually fall for it.

Difficulty goes up 2x. People pay over half a million dollars a month to lease my racks.
Difficulty goes up 100x. People STILL pay over half a million dollars a month to lease my racks.

So, whats the problem?

LOL, so Diablo Mining Company did give up on mining, and now you plan instead to compete with a bazillion established datacenters around the globe? And you will make that work without a frigging clue when it comes to building DCs, and with the 3000 BTC you raised from the IPO - half of which you squandered already?

Good luck!

[DiabloD3]

It will not be impacted. What I just did was disclose a flaw in the plan: the plan is much more profitable than I originally realized. Oops.

Mine bitcoins with constant hashrate while difficulty increases by two orders of magnitude, and suffer no impact to your bottom line? Yeah, Im sure that is more profitable than anyone realizes.  The scary part is that some people might actually fall for it.

Difficulty goes up 2x. People pay over half a million dollars a month to lease my racks.
Difficulty goes up 100x. People STILL pay over half a million dollars a month to lease my racks.

So, whats the problem?

LOL, so Diablo Mining Company did give up on mining, and now you plan instead to compete with a bazillion established datacenters around the globe? And you will make that work without a frigging clue when it comes to building DCs, and with the 3000 BTC you raised from the IPO - half of which you squandered already?

Good luck!

Did you not read the plan? This was outlined completely already. I never said I am cutting mining out, I said if mining is not our only source of income and not a majority source of income.

[novusordo]

It will not be impacted. What I just did was disclose a flaw in the plan: the plan is much more profitable than I originally realized. Oops.

Mine bitcoins with constant hashrate while difficulty increases by two orders of magnitude, and suffer no impact to your bottom line? Yeah, Im sure that is more profitable than anyone realizes.  The scary part is that some people might actually fall for it.

Once he gets renewable power sources up and running, difficulty shouldn't be too big of an issue. Whether one mines 50 BTC a day or 20 BTC a day, if one doesn't pay for electricity, one still makes a profit. It's a 60% decrease in revenue, but when operating costs are 0 it shouldn't be a monumental concern.

If you don't think it's a good investment, don't invest. The same goes for any security, on GLBSE or elsewhere.

[P4man]

Once he gets renewable power sources up and running, difficulty shouldn't be too big of an issue. Whether one mines 50 BTC a day or 20 BTC a day, if one doesn't pay for electricity, one still makes a profit.

Solar energy is about as free as electricity from a diesel generator with a full fuel tank. If you really think its cheaper, invest in solar energy instead of bitcoins.

It's a 60% decrease in revenue, but when operating costs are 0 it shouldn't be a monumental concern.

Difficulty has more than doubled this year. Thats (mostly) pre mini rigs and pre ASICs. You are probably looking at one order of magnitude difficulty increase in the next 12 months and perhaps as much as two orders  in the next 24. And yes, that is a monumental concern when you havent earned back either your FPGA farm, "datacenter" or your "free" electricity investments, as your break even point just shifted from, say very optimistically,  24 months, to never ever.

If you don't think it's a good investment, don't invest. The same goes for any security, on GLBSE or elsewhere.

Thank you cpt obvious.

[EskimoBob]

Meanwhile, in other news: Existing Solar Tech Could Power Entire US, Says NREL

P4man actually makes valid points and I personally think, those needs to be addressed.
Can you stop investing to mining turds? As you probably have realized by now, they are all losers until difficulty stops climbing.
 

[DiabloD3]

Meanwhile, in other news: Existing Solar Tech Could Power Entire US, Says NREL

P4man actually makes valid points and I personally think, those needs to be addressed.
Can you stop investing to mining turds? As you probably have realized by now, they are all losers until difficulty stops climbing.
 

I don't really think he makes valid points. All he does is continually remark that Bitcoin cannot build a data center, or that its somehow impossible to enter a market that badly needs more competition, or that solar power is not profitable, or other things that aren't true.

Mining bonds aren't losers because they continue to pay out. Leaving the money simply sit means those profits are lost forever, and it also locks us out of future investors because no one is going to invest in something on GLBSE that doesn't pay dividend; worse, instead of investing in DMC, people may throw their money at Pirate or BFL instead because they don't know any better.

[P4man]

I don't really think he makes valid points. All he does is continually remark that Bitcoin cannot build a data center,

Im saying you cant build a datacenter and profit from it (nor me if it makes you feel better),  because you lack the funds, the expertise and even basic common sense. Its hard enough for people who have all three.

or that its somehow impossible to enter a market that badly needs more competition

Which market? Mining market? Mining is a zero sum game. Of course you can enter it, but very few people, if any, will be able to profit from it in the asic era, even with asics. And anyone entering it with (non upgradable) FPGAs at this hour is pretty much guaranteed to be throwing his money away. I also dont see why it would need more competition, chances are there will be way too many miners for not enough mining revenue.

, or that solar power is not profitable,

Im saying its not free power.

Mining bonds aren't losers because they continue to pay out.

Like I said, you lack basic common sense. Do you really not comprehend that their payout is less than their value depreciation ? And that this will get infinitely worse if asics arrive?

[xkrikl]

What has happend that we have
1) less hashing power this month 8759 mhash versus last month 11574 mhash?
2) less shares sold this month 2993 shares versus last month 4066 shares?

[DiabloD3]

I don't really think he makes valid points. All he does is continually remark that Bitcoin cannot build a data center,

Im saying you cant build a datacenter and profit from it (nor me if it makes you feel better),  because you lack the funds, the expertise and even basic common sense. Its hard enough for people who have all three.

Okay, you can claim that. Its a free country. A lot of people do not agree with you, however.

or that its somehow impossible to enter a market that badly needs more competition

Which market? Mining market? Mining is a zero sum game. Of course you can enter it, but very few people, if any, will be able to profit from it in the asic era, even with asics. And anyone entering it with (non upgradable) FPGAs at this hour is pretty much guaranteed to be throwing his money away. I also dont see why it would need more competition, chances are there will be way too many miners for not enough mining revenue.

No, not mining. Data center space, the market is growing faster than companies can supply it.

, or that solar power is not profitable,

Im saying its not free power.
[/quote]

Good, because its not. If I produce more power than I use, it has a negative operational cost; that is not the same as free.

Mining bonds aren't losers because they continue to pay out.

Like I said, you lack basic common sense. Do you really not comprehend that their payout is less than their value depreciation ? And that this will get infinitely worse if asics arrive?

Yet the same would happen if I purchased the hardware: it would depreciate in value.

Also, much of what DMC owns already has an ASIC upgrade path.

[DiabloD3]

What has happend that we have
1) less hashing power this month 8759 mhash versus last month 11574 mhash?
2) less shares sold this month 2993 shares versus last month 4066 shares?

I sometimes trade one bond for another if I can get more hash cheaper that way. DMC shares themselves happened to become cheaper than other bonds, so I bought a large number of them back.

mhash/share went up, however.

[xkrikl]

What has happend that we have
1) less hashing power this month 8759 mhash versus last month 11574 mhash?
2) less shares sold this month 2993 shares versus last month 4066 shares?

I sometimes trade one bond for another if I can get more hash cheaper that way. DMC shares themselves happened to become cheaper than other bonds, so I bought a large number of them back.

mhash/share went up, however.

Thanks for clarification.
Higher mhash/share is good and the fact that the dividend per share doubled is a good sign of it.
I am just unsure if buying back is the right thing when we want to sell shares to get the money for the big thing.

[DiabloD3]

What has happend that we have
1) less hashing power this month 8759 mhash versus last month 11574 mhash?
2) less shares sold this month 2993 shares versus last month 4066 shares?

I sometimes trade one bond for another if I can get more hash cheaper that way. DMC shares themselves happened to become cheaper than other bonds, so I bought a large number of them back.

mhash/share went up, however.

Thanks for clarification.
Higher mhash/share is good and the fact that the dividend per share doubled is a good sign of it.
I am just unsure if buying back is the right thing when we want to sell shares to get the money for the big thing.

Things will be back on track when Bitcoin prices stop being insane. We just crossed $10, so that might be a month or two.

[toffoo]

I am just unsure if buying back is the right thing when we want to sell shares to get the money for the big thing.

As a fellow shareholder, I ABSOLUTELY think buying back is the right thing to do.

If the marketplace is (wrongly?) discounting DMC shares to the point where they're a better value than other mining bonds, Diablo would be wrong to not take advantage of it.

It's probably the shrewdest move I've seen our "management" make.

[toffoo]

:facepalm: :facepalm: :facepalm:

Maybe I was singing your praises too soon ...

I went on to GLBSE to see why our shares were trading near zero,

and when I finally figured it out, all I could think of was ...  SCUMBAG DIABLO:

[Coinoisseur]

Um, am I the only one who remembers that the ASIC offerings are for future output. Unless someone has ASIC hashing running at the up until now theoretical rates and I've just missed the news item. Edit: Otherwise, arguing it is devaluing current DMC value is a bit of a stretch.

In regards to DMC, it's operating as a company and not a bond so changes in structure and operation are within the bounds of expected outcomes.

[P4man]

In regards to DMC, it's operating as a company and not a bond so changes in structure and operation are within the bounds of expected outcomes.

LOL. Its certainly within the bounds of my expectations , but anyone who bought this share at 1BTC  might feel differently.

In case you missed it, Diablo is now much closer to a one millionth of a dollar company than a one million dollar company:

https://glbse.com/asset/view/DMC

Way to go D3D!

[DiabloD3]

Hey all.

My VPS is down at the moment, so there goes the trade chart until Enzu is done their LA migration. However, I'm changing the trade requirement from 3.5 mhash to 15 mhash. That means 15:1 for all the 1 mhash bonds, and 1:2 for asicminer.

Price per mhash on GLBSE is crashing, so might as well trade to me while you still can. I'm probably going to continue progressing the trade requirement 1 mhash per month from now on, so you have 16 days until the next increase.