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Author Topic: SkepsiDyne Integrated Node - The Bitcoin Mining Company  (Read 92737 times)
boonies4u
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June 04, 2011, 03:10:08 AM
 #161

I'd be willing to get on logging/graphing the data as soon as it becomes available, as well as aggregating multiple data sources should SkepsiDyne decide to take your advice (which I agree with.)

Here ya go.

Here is the full list of the APIs. Assuming that this is his account, we can use his to see whether or not the miners are running and how much BTC they are making.

Stats of Pool
http://btcmine.com/api/getpoolstats/020d055f94131c4b29baeca9915c7e04917bb18e/

Stats of Balance
http://btcmine.com/api/getbalance/020d055f94131c4b29baeca9915c7e04917bb18e/

Stats of User
http://btcmine.com/api/getstats/020d055f94131c4b29baeca9915c7e04917bb18e/

Stats of User's Miners
http://btcmine.com/api/getminerstats/020d055f94131c4b29baeca9915c7e04917bb18e/
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June 04, 2011, 07:03:50 AM
 #162

Sharp's handy graph, hotlinked here:


Le edit:
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June 04, 2011, 05:45:56 PM
 #163

I'm now a shareholder and will be looking forward to follow this thread and our company's activites Cool

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June 04, 2011, 05:51:23 PM
 #164

Tawsix,

The only real ways to reward your shareholders are with dividends, and by increasing both the value of the corporation and the market value of the company.

In this case, they would go together nicely; dividends would increase the market value.

What are your plans for dividending? I would recommend a schedule; this will create some market gyrations around dividend time, but it will also provide the kind of information current shareholders, the ones who funded the business, eagerly desire.

As a pre-emptive response inre: generating more capital, I think you'll generate far more capital by engaging politely and following through on my suggestions than just holding the generated BTC.



I'm the CEO of CoinLab (www.coinlab.com) and the Executive Director of the Bitcoin Foundation, I will identify if I'm speaking for myself or one of the organizations when I post from this account.
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June 04, 2011, 06:08:37 PM
 #165

http://shrp.me/sin/

This was the most interesting information to me right now, but expect more.
Awesome, thanks! Smiley

A small request though - please change the date/time on the graphs to UTC.

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June 04, 2011, 07:12:49 PM
 #166

Tawsix,

The only real ways to reward your shareholders are with dividends, and by increasing both the value of the corporation and the market value of the company.

In this case, they would go together nicely; dividends would increase the market value.

What are your plans for dividending? I would recommend a schedule; this will create some market gyrations around dividend time, but it will also provide the kind of information current shareholders, the ones who funded the business, eagerly desire.

As a pre-emptive response inre: generating more capital, I think you'll generate far more capital by engaging politely and following through on my suggestions than just holding the generated BTC.




he doesn't have to listen to you b/c this is not the only way he can reward shareholders.  he can continue to bring his ordered rigs online as he has planned which will start increasing production of the company and increase share value as well.  the asks @ .749 btc are almost eaten up now 2/3 being sold (the guy started at 125 shares, now down to 42).  it looks to me like they'll be cleared out relatively soon and then Tawsix can finish off the the IPO.  i assume you bought your shares @.75 having full knowledge of his plans to issue 5000 so we investors @.75 have nothing to complain about.

my only suggestion to Tawsix at this pt is to at least make a daily post and continue to build production.
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June 04, 2011, 07:18:44 PM
 #167

Nefario: The intention on my end was not to game the market, it was to give the initial investors a reward for their early trust.  I say that I got gamed because some people bought into the shares once the announcement that the value of the shares would be increased for the sole purpose of undercutting the IPO once it was repriced.  I agree that dividend payment will renew interest in the shares, and that is currently the goal to reach after bringing the total capacity of the company online.

vess: I can not take the IPO down, it will be the main source of income until many more rigs are brought on line.  The purpose of the shares sold was to raise funds, not create a market for shareholders.  The intention was that shareholders were in it for the long run, making an investment, not that they would see immediate liquidity in their stocks.  Once dividends begin being paid, which will occur when everything is settled in, the IPO will begin selling again.

As far as the new rigs arriving: they are currently scheduled to arrive on Monday.  This weekend I will be unlocking all of the GPU's I currently have so that they can be overclocked higher once the rigs arrive.

What I meant was that you couldn't tell the market what to do, essentially when a market is free you can't beat it, so try to harness it.

Also you really will have to pay dividends before selling more shares, simply no one will buy anymore until you do. That's the market. It's not going to wait because it doesn't have to. And it shouldn't, you should already be mining, and getting ready to pay dividends in a day or two. Look at DISHWARA, he's already paid his first dividend and is on track for another, and he's in India, your in the states, you should be paying dividends already.

This isn't China, shareholders are king here.

as someone who doesn't need to see a dividend right now, i respectfully disagree.  again, he can raise share price just by continuing to work and bringing his ordered rigs online.  we see it happening right now, evidence being the 125 shares offered at .749 btc having been bought down to 42 shares remaining.  if he more than doubles his hashing output as it looks like he is on the verge of doing, the remaining IPO shares could disappear quite quickly.
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June 04, 2011, 07:20:30 PM
 #168

as i just wrote the last 2 posts the asks @.749 have decreased to 18 shares.  someone is BUYING.
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June 04, 2011, 07:23:01 PM
 #169

as i just wrote the last 2 posts the asks @.749 have decreased to 18 shares.  someone is BUYING.

sorry i mispoke, there are only 8 shares left @ .749
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June 04, 2011, 08:00:03 PM
 #170

http://shrp.me/sin/

This was the most interesting information to me right now, but expect more.

Thank you very much, we really appreciate your work on that!  I will put the hotlink of the graph in the OP.

Sukrim: I do like your idea of running two miners per GPU on different pools.  I will implement that after I review candidate pools.

vess: Plans for dividends are currently monthly (when expenses have been deducted from gross production) but I am in contact with Nefario concerning daily automated dividend payouts that would take into account an estimate of expenses (conservative estimates, of course) and then at the end of the month the difference would be paid out in a lump once real expenses have been taken into account.

What I think we should discuss now is how much of production should be used for growth.  I personally think that the maximum number of rigs should be bought per week with production and the rest should be set aside for dividends (or paid out if a weekly dividend schedule is used.)  As far as a percentage, remember that half of total dividends paid out will be going back into the company from me paying off my shares, so that will be taken into account when determining how many rigs could be bought.  

Any thoughts?

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June 04, 2011, 10:45:15 PM
 #171

As a shareholder I would like to make money... But I haven't yet made any graphs to compare different investment-scenarios. I would like you to at least compensate the rise of difficulty, but if it eats all the profit that just won't be any good... For now I would say invest as much as you can.
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June 05, 2011, 01:39:21 AM
 #172

http://shrp.me/sin/

This was the most interesting information to me right now, but expect more.

Thank you very much, we really appreciate your work on that!  I will put the hotlink of the graph in the OP.

Sukrim: I do like your idea of running two miners per GPU on different pools.  I will implement that after I review candidate pools.

vess: Plans for dividends are currently monthly (when expenses have been deducted from gross production) but I am in contact with Nefario concerning daily automated dividend payouts that would take into account an estimate of expenses (conservative estimates, of course) and then at the end of the month the difference would be paid out in a lump once real expenses have been taken into account.

What I think we should discuss now is how much of production should be used for growth.  I personally think that the maximum number of rigs should be bought per week with production and the rest should be set aside for dividends (or paid out if a weekly dividend schedule is used.)  As far as a percentage, remember that half of total dividends paid out will be going back into the company from me paying off my shares, so that will be taken into account when determining how many rigs could be bought.  

Any thoughts?

you could use todays production btc to buy rigs up to the #rigs u outlined in your original ipo plans.  then any further production gains PLUS any btc from left over ipo shares would be given out as dividends.  you would be capped by your original plan for # rigs.  clear?
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June 05, 2011, 02:41:51 AM
 #173

you could use todays production btc to buy rigs up to the #rigs u outlined in your original ipo plans.  then any further production gains PLUS any btc from left over ipo shares would be given out as dividends.  you would be capped by your original plan for # rigs.  clear?

I'm not quite following.  Only about 5 BTC were generated in the last 24 hours, and that is not enough to buy even a single rig.  Also, I'm wondering if you're talking about the number of rigs proposed if the entire IPO was sold.

Also, to be clear, money raised from the IPO will never be paid out in dividends, only BTC generated by the rigs is eligible for that.

I don't think that there should be a cap on the growth of the company.

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June 05, 2011, 03:11:42 AM
 #174

I think until the IPO shares are sold out, all mined BTC should be paid out as dividends (after subtracting expenses).  IPO shares are currently being sold to raise capital for rigs, and paying the maximum dividend will help sell those shares more quickly.

After all the IPO shares are sold out, maybe 50% of mined BTC could go to purchasing new rigs (growth) and 50% could be paid out as dividends?
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June 05, 2011, 09:27:21 AM
 #175

I think until the IPO shares are sold out, all mined BTC should be paid out as dividends (after subtracting expenses).  IPO shares are currently being sold to raise capital for rigs, and paying the maximum dividend will help sell those shares more quickly.

After all the IPO shares are sold out, maybe 50% of mined BTC could go to purchasing new rigs (growth) and 50% could be paid out as dividends?

That's an interesting take.  Paying out all BTC generated until the IPO was sold out would still allow for growth, as half of the dividends paid out (my half) will be reinvested into the company to pay off my shares.

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June 05, 2011, 09:37:56 AM
 #176

So... paying out dividends might also increase shareholder confidence, which means fewer will be likely to put their shares back on the market for margin traders to play with – which is a game we've seen to be easy right now since they only have to stay one satoshi below the shares you offer.

Bitcoins: solid enough to build pyramids.
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June 05, 2011, 10:50:51 AM
 #177

Summary:

- about 1 Month after IPO and with 8000$ converted from BTC at under 10$ per BTC rate, the shareholders are left with their 0.0x BTC payout from the 2.x gh/s mining operation
- leaves Shareholder of "assumed previous 1 BTC aka now 16$ +" with zero BTC but a virtual stake in 0.0x something BTC payout and the hope to get back to a BTC, sounds like the investment has worked out really well

proud 5.x gh/s miner. tips welcome at 1A132BPnYMrgYdDaRyLpRrLQU4aG1WLRtd
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June 05, 2011, 12:53:09 PM
 #178

Tawsix

my idea above is a maximum growth strategy.  take all revenue from either production or ipo share sales and buy rigs up until the pt u have the original # rigs u proposed which was around 39 i believe.  only then pay dividends.  i for one would be more excited at seeing the #rigs and production increase as rapidly as possible which i think alone would drive share sales and prices in the long run.  most of us here who bought @ .75, i presume, were in it for the longterm altho clearly there were the flippers too who i think were the minority of buyers at that price.  and then there are those who just want a payout asap in the form of dividends.

my only other word of advice fwiw is that you need to realize u wouldn't be having as many problems with shares sales and price if u hadn't let confidence slip during that 1-2 wk period by not posting.  share price is all about management perception (and eventually fundamental value).  just simply posting everyday and updates would have you in a better position today than you are.  and its not too late to do this.  just keep posting, continue to show progress as you are, slowly increase production and you'll get thru this.  there's nothing but a bright shiny future ahead for btc in general and mining in particular. you just need to learn how to ride the wave.

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June 05, 2011, 04:18:42 PM
 #179

Tawsix

my idea above is a maximum growth strategy.  take all revenue from either production or ipo share sales and buy rigs up until the pt u have the original # rigs u proposed which was around 39 i believe.  only then pay dividends.  i for one would be more excited at seeing the #rigs and production increase as rapidly as possible which i think alone would drive share sales and prices in the long run.  most of us here who bought @ .75, i presume, were in it for the longterm altho clearly there were the flippers too who i think were the minority of buyers at that price.  and then there are those who just want a payout asap in the form of dividends.

my only other word of advice fwiw is that you need to realize u wouldn't be having as many problems with shares sales and price if u hadn't let confidence slip during that 1-2 wk period by not posting.  share price is all about management perception (and eventually fundamental value).  just simply posting everyday and updates would have you in a better position today than you are.  and its not too late to do this.  just keep posting, continue to show progress as you are, slowly increase production and you'll get thru this.  there's nothing but a bright shiny future ahead for btc in general and mining in particular. you just need to learn how to ride the wave.



Ah, now I understand, you want to get to 39 computers as fast as humanly possible, then payout dividends once we get there.  Do you think that we should ever enter back into the growth phase, or just stick to 39 computers indefinitely?

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June 05, 2011, 04:30:05 PM
 #180

I think the fastest route to 39 rigs is to pay dividends, because this will result in more IPO shares being sold, thus resulting in more capital that can be used for rigs.  If all dividends are used for new rigs, we won't get new investors and it will actually take longer to accumulate enough capital to buy rigs.

Nefario is supposed to have a new GUI interface for GLBSE in the next week, which could significantly expand the number of potential investors.  I don't think very many people are capable of using the current command line interface to GLBSE.  I think we should give these new GUI-using investors a good reason to buy SIN.
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