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Author Topic: SkepsiDyne Integrated Node - The Bitcoin Mining Company  (Read 92709 times)
Tawsix
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June 26, 2011, 04:25:24 PM
 #361

That is correct, you will own 1% of the company, 1% of the company's computing power, and 1% of profits made from it. 

And who gets the revenue of the unsold stocks ? I understand that you sold 1645+438 stocks.

Should my share not be 100 out of 1645+438 instead of 100 out of 10.000 ?



Ah yes, my mistake.  Those calculations were under the assumption that all shares were purchased, which is not the case.  I collect dividends that amount to the number of shares sold (1645) + 1, which I reinvest until the number of shares I own (currently 438) is equal to that number, at which point I would collect dividends as normal until more shares are sold.  This would go on until I have paid for all the shares not in the IPO.  So in actuality 100 shares would get you 100/3291 (if you already owned them, the denominator would increase by 200 if you went and bought 100 shares right now) of the company, or about 3%.

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June 26, 2011, 05:15:57 PM
 #362

Thanks Tawsix, I think you're handling this really well.

(a picture of the rigs would be nice for current and future investors)
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June 26, 2011, 05:17:29 PM
 #363

That is correct, you will own 1% of the company, 1% of the company's computing power, and 1% of profits made from it. 

And who gets the revenue of the unsold stocks ? I understand that you sold 1645+438 stocks.

Should my share not be 100 out of 1645+438 instead of 100 out of 10.000 ?



Ah yes, my mistake.  Those calculations were under the assumption that all shares were purchased, which is not the case.  I collect dividends that amount to the number of shares sold (1645) + 1, which I reinvest until the number of shares I own (currently 438) is equal to that number, at which point I would collect dividends as normal until more shares are sold.  This would go on until I have paid for all the shares not in the IPO.  So in actuality 100 shares would get you 100/3291 (if you already owned them, the denominator would increase by 200 if you went and bought 100 shares right now) of the company, or about 3%.

This is what I like about buying in sooner, it increases the percent of the profits you get if you invest earlier on! Buy in now to take advantage of the higher (percent) dividends! =D

Just don't try to shoo away other investors, we need their capital to buy more rigs!

So, Tawsix, do you think you will be doing weekly dividend payments and rig purchases? Or are you not sure what it will be in the long run?
Tawsix
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June 26, 2011, 06:06:06 PM
 #364

This is what I like about buying in sooner, it increases the percent of the profits you get if you invest earlier on! Buy in now to take advantage of the higher (percent) dividends! =D

Just don't try to shoo away other investors, we need their capital to buy more rigs!

So, Tawsix, do you think you will be doing weekly dividend payments and rig purchases? Or are you not sure what it will be in the long run?

Yes, we're always trying to get new investors in!  I really think that weekly dividends are going to be the norm, that seems to be working out well so far.  If things change, so might dividends, but for the foreseeable future, weekly dividends will be issued.

Thanks Tawsix, I think you're handling this really well.

(a picture of the rigs would be nice for current and future investors)

Thank you!  I appreciate when people ask questions, it helps me think about different aspects of the company as well as help explain things to people who have not yet invested but are looking into doing so.

Pictures of the rigs is something I'll be getting up in the future, but I can't make any promises on a time frame.

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June 26, 2011, 06:35:41 PM
 #365

Thanks for the explanation - I'd say you need to wait until GLBSe is working, including the motion, perfectly until you try and issue motions... clearly it's not worth it to have them up now and then never work :p But in the meantime, you need to make any necessary decisions - that is, move to BTCguild. Worst case scenario, if someone sees a major issue with that (I don't...) we'll move back when motions are working.
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June 26, 2011, 06:37:05 PM
 #366

Thanks for the explanation - I'd say you need to wait until GLBSe is working, including the motion, perfectly until you try and issue motions... clearly it's not worth it to have them up now and then never work :p But in the meantime, you need to make any necessary decisions - that is, move to BTCguild. Worst case scenario, if someone sees a major issue with that (I don't...) we'll move back when motions are working.

Yeah, I won't be issuing any motions until the problem is fixed, and I'll be reissuing the motion concerning our backup pool.  However, BTCguild is already decided, so that won't be an issue.  The only thing being voted on is the backup server.

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June 26, 2011, 09:03:26 PM
 #367

What equipment do you use for the minig rigs? Iv asked several times to no avail.  I'm aware you can't always get the same cards so I'm mostly insteaded in the other parts and which cards you prefer using.
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June 26, 2011, 09:31:37 PM
 #368

What equipment do you use for the minig rigs? Iv asked several times to no avail.  I'm aware you can't always get the same cards so I'm mostly insteaded in the other parts and which cards you prefer using.

Secret family recipe Wink.

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June 26, 2011, 11:03:01 PM
 #369

What equipment do you use for the minig rigs? Iv asked several times to no avail.  I'm aware you can't always get the same cards so I'm mostly insteaded in the other parts and which cards you prefer using.

Secret family recipe Wink.

Doesn't... seem too transparent to me :/
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June 26, 2011, 11:56:00 PM
 #370

What equipment do you use for the minig rigs? Iv asked several times to no avail.  I'm aware you can't always get the same cards so I'm mostly insteaded in the other parts and which cards you prefer using.

Secret family recipe Wink.

Doesn't... seem too transparent to me :/

We're building rigs for SIN, not for the competition.  If you would like the prices of each rig, I'll give that, or the output of each rig, but I don't see how specific components are relevant with that information.

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June 27, 2011, 02:21:43 AM
 #371

why not send me a PM if you dont EVERYONE knowing? Im a shareholder and it is an important piece of information. For all i know you are over spending buying rigs that cost 2Grand each that only output 1.2Ghash/sec. Maybe you are buying good rigs but I could or another investor could help reduce the cost saving $100-200 a rig. Also why does it matter if others have the same build? Maybe Id like to build the same rig for myself i wouldnt consider that competition.

Since it appears you are going to refuse to give such information away id like to propose a motion asking the shareholders if you should tell us what the equipment you purchase for the rigs.
Tawsix
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June 27, 2011, 03:00:30 AM
 #372

why not send me a PM if you dont EVERYONE knowing? Im a shareholder and it is an important piece of information. For all i know you are over spending buying rigs that cost 2Grand each that only output 1.2Ghash/sec. Maybe you are buying good rigs but I could or another investor could help reduce the cost saving $100-200 a rig. Also why does it matter if others have the same build? Maybe Id like to build the same rig for myself i wouldnt consider that competition.

Since it appears you are going to refuse to give such information away id like to propose a motion asking the shareholders if you should tell us what the equipment you purchase for the rigs.

As I said, I would be happy to disclose the price and output of each rig to assuage you fears that I'm spending our money unwisely.  Every miner is competition, shareholder or no.  If I have a good build, do you think the components I'm using will last if everyone is suddenly building the same thing?

However, I do agree that if it is important to the shareholders then a motion should be put forth by them.  I would not recommend it, but if the consensus is such that I should disclose the components of our rigs then I would comply.  Once again, I see no benefit to be gained from such action.

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June 27, 2011, 03:52:12 AM
 #373

Well its good to hear your willing to make a motion. If it the motion is past im just looking for you to send the information to share holders not post it all over the forums. Itd be great if GLBSE has a system where you could directly contact or message shareholders with a mass message. In the mean time could you post the approximate $$/hash for the rigs?

thanks
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June 27, 2011, 03:53:00 AM
 #374

As I said, I would be happy to disclose the price and output of each rig to assuage you fears that I'm spending our money unwisely.  Every miner is competition, shareholder or no.  If I have a good build, do you think the components I'm using will last if everyone is suddenly building the same thing?
ROFL. You think you have some magic sauce on building mining rigs that no one else has figured out?

However, I do agree that if it is important to the shareholders then a motion should be put forth by them.  I would not recommend it, but if the consensus is such that I should disclose the components of our rigs then I would comply.  Once again, I see no benefit to be gained from such action.
Really? You don't think the owners of the company have a right to know what they are buying? Wow. Steer clear of this investment. It's only going to get worse. When he starts getting hardware failures, and doesn't come clean, things are going to go downhill fast.

Buy & Hold
Tawsix
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June 27, 2011, 04:07:53 AM
 #375

Well its good to hear your willing to make a motion. If it the motion is past im just looking for you to send the information to share holders not post it all over the forums. Itd be great if GLBSE has a system where you could directly contact or message shareholders with a mass message. In the mean time could you post the approximate $$/hash for the rigs?

thanks

I can just make another motion containing the information, it would serve the same purpose as a mass messaging option.

Five rigs are ~$950/.90 Ghash/sec
Two rigs are ~$1050/.85 Ghash/sec
Two rigs are ~$1300/.95 Ghash/sec

Those costs are high estimates, the output is just about right.  The $950 and $1300 rigs are underproducing right now until I implement a direct cooling solution to allow for better overclocking.  That's going to be happening towards the end of this week/this next weekend.

When he starts getting hardware failures, and doesn't come clean, things are going to go downhill fast.

Search for "motherboard" in this thread and you'll see a nice little episode on why you're wrong.

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June 27, 2011, 04:28:44 AM
 #376

Quote from: Tawsix
We currently have 9 rigs producing ~8.1 Ghash/sec.


Those costs are high estimates, the output is just about right. 

These numbers alone should tell any potential investor that theres some loss in the system. Usual triple 5850 roi + mh/w champions are at over 1gh/s hence there should be easily between 9.4 and 10gh from 9 machines. Its a very bad investment.

proud 5.x gh/s miner. tips welcome at 1A132BPnYMrgYdDaRyLpRrLQU4aG1WLRtd
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June 27, 2011, 04:56:21 AM
 #377

At the current dividend payout rates, what is the return per 1 share of SIN?
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June 27, 2011, 05:50:46 AM
 #378

As an investor I would like to add my 2 cents.
I believe that seeing as the equipment is technically mine, I have every right to know what it is I own.

Selling goods from Japan for BTC. http://www.cheaplightning.com
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June 27, 2011, 10:25:23 AM
 #379

Agreed.

I still want to see a Finance Sheet as per that provided by UBX (but also including dates for each entry)

The Asset List shareholders appear to now be requesting would then by compilable from the Finance Sheet.

For me personally, the Asset List is a significant input to the assessment of the value of the company and hence each share (particularly mining companies) and is a key differentiator between the SIN shares and shares in mining contracts (e.g. CM400).

A link to a Google Docs spreadsheet shared on a "if you have the URL" basis rather than fully public could easily be provided to shareholders via a "mock" motion on GLBSE.

As an investor I would like to add my 2 cents.
I believe that seeing as the equipment is technically mine, I have every right to know what it is I own.


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Ben Walsh (beamer)
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June 27, 2011, 10:52:42 AM
 #380

Tawsix ...
I think it would be beneficial to record dividend payouts on the first post in this thread, updating in the same way you are for the hash rate.
It will be very helpful in encouraging further investment / new investors.

At the current dividend payout rates, what is the return per 1 share of SIN?

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