Announcing GLBSE listing for Bitcorp Mining CO.

[yochdog]

We are pround to announce that after 6+ months of successful operation, we have finally opened investment to the general public on GLBSE.  

Ticker symbol:  BTCMC

Dividend rate is currently .125 BTC per share, per month.  There is considerable room for increasing the dividend, and we intend to raise it significantly in the next 30-60 days.  

Please ask any questions you might have, and looking forward to having more of you on board!

More info on the company here, including financial results:  https://bitcointalk.org/index.php?topic=45438.0

[Sukrim]

How high is (was) the IPO?

Why so few shares - liquidity will probably suffer...?

[yochdog]

How high is (was) the IPO?

Why so few shares - liquidity will probably suffer...?

1000 shares are issued, the founders still hold upwards of 80%.....the IPO was simply to get shares into the hands of pre-IPO investors on the new platform.  We are entertaining a share split to increase liquidity. 

[Sukrim]

Might be useful to issue 1000 shares then on GLBSE to show actual ownership relations... also your "contract" is just 2 lines of nothingness. Not something I'd trust with more than a few bitcents.

As much as I find MPOE/MPEX weird, their contracts are actually really good - I hope Nefario or another GLBSE admin will in the future threaten to delist assets on GLBSE that have terms that consist of "You're buying shares that pay dividends and we'll try to pay them monthly - and we'll try to pay MOAR OF 'EM!" and nothing more. You claim to be a group of finance students - would you buy shares for ~40 USD that are advertised and managed like this?!

[yochdog]

Might be useful to issue 1000 shares then on GLBSE to show actual ownership relations... also your "contract" is just 2 lines of nothingness. Not something I'd trust with more than a few bitcents.

As much as I find MPOE/MPEX weird, their contracts are actually really good - I hope Nefario or another GLBSE admin will in the future threaten to delist assets on GLBSE that have terms that consist of "You're buying shares that pay dividends and we'll try to pay them monthly - and we'll try to pay MOAR OF 'EM!" and nothing more. You claim to be a group of finance students - would you buy shares for ~40 USD that are advertised and managed like this?!

We had some trouble putting everything together on GLBSE, give it a shot and see if you can do better.

This idea has been shit on long ago, and we got through all that with very happy investors.  If you are not interested, fine.....but go away with your useless trolling. 

[Sukrim]

We had some trouble putting everything together on GLBSE, give it a shot and see if you can do better.

I actually already did on GLBSE 1.0, before you even signed up on this forum...

However sorry if my wording was too harsh - still I think my crititzism is beyond "useless trolling". You kill liquidity with high share prices, your "contract" is seriously a joke (you don't explain for example that someone who holds 50% of shares on GLBSE does NOT hold 50% of shares in your company and won't get 50% of earnings - in reality it's only 10%) and even 16 year olds do a better job of staying transparent, see https://bitcointalk.org/index.php?topic=67547.0

I am actually really interested in these shares, otherwise I hardly would have cared to answer here.

Oh, and another calculation: 23.5 MH/s per share * 0.30 BTC for 1 MH/s = 7.05 BTC for one share at "mining bond" prices. It's not clear if you have any other benefits if you buy shares in this "company", so it's hard to say if it might be worth paying a bit more as they plan to expand.

Also, since there still is no link to the actual asset, here is one:
https://glbse.com/asset/view/BTCMC

[yochdog]

We had some trouble putting everything together on GLBSE, give it a shot and see if you can do better.

I actually already did on GLBSE 1.0, before you even signed up on this forum...

However sorry if my wording was too harsh - still I think my crititzism is beyond "useless trolling". You kill liquidity with high share prices, your "contract" is seriously a joke (you don't explain for example that someone who holds 50% of shares on GLBSE does NOT hold 50% of shares in your company and won't get 50% of earnings - in reality it's only 10%) and even 16 year olds do a better job of staying transparent, see https://bitcointalk.org/index.php?topic=67547.0

I am actually really interested in these shares, otherwise I hardly would have cared to answer here.

Oh, and another calculation: 23.5 MH/s per share * 0.30 BTC for 1 MH/s = 7.05 BTC for one share at "mining bond" prices. It's not clear if you have any other benefits if you buy shares in this "company", so it's hard to say if it might be worth paying a bit more as they plan to expand.

Also, since there still is no link to the actual asset, here is one:
https://glbse.com/asset/view/BTCMC

The contract wordking on GLBSE was basically a placeholder.  Unfortunately we cannot go edit it now, but I have asked Nefario for help.  We do have a whole thread here dedicated to who we are, our financials, and our goals.  I think that should help.....we certainly did not get as many investors as we currently have with only 2 sentences.  The link to that thread is in the OP.  

Shareholders have claim to 100% of their share of retained earnings.....they just are not being paid out until expansion in finished.  

I am not sure what you are saying with that calculation?  Each of our shares represents nearly 28 MH/s.....soon to be 30.  It seems likely that we will expand beyond that should the shareholders wish to go that route.  Where did you come up with 23.5?

-Y  

PS - all 1000 shares will be issued on GLBSE, we are just having problems at the moment. 

[Sukrim]

Where did you come up with 23.5?

https://bitcointalk.org/index.php?topic=45438.msg820381#msg820381 - the latest MH/s number I could find in that thread of yours.

Also your income in April (451.39 BTC) divided by 0.01901707 (the 100% PPS income of 1 MH/s) suggests you had on average 23.7 GH/s in April mining. This number can be a bit inflated by good luck or GPUMAX or deflated by bad luck, but with that mining power it should average out quite nicely over 30 days.
With your March numbers (431.11 BTC, 0.02072455 for 1 MH/s) you had 20.8 GH/s online back then.

[yochdog]

Where did you come up with 23.5?

https://bitcointalk.org/index.php?topic=45438.msg820381#msg820381 - the latest MH/s number I could find in that thread of yours.

Also your income in April (451.39 BTC) divided by 0.01901707 (the 100% PPS income of 1 MH/s) suggests you had on average 23.7 GH/s in April mining. This number can be a bit inflated by good luck or GPUMAX or deflated by bad luck, but with that mining power it should average out quite nicely over 30 days.
With your March numbers (431.11 BTC, 0.02072455 for 1 MH/s) you had 20.8 GH/s online back then.

Gotcha.  Ya, we have been aggresively building up. 

currently holding steady at 26,000.....realtime.  a few more kick on in an hour.