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Nefario
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August 16, 2011, 05:07:34 AM |
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This shows one significant structural problem with GLBSE companies so far: they all are tiny by any regular means. Sosmall they dont have any infrastructure - no phone, no personell etc. Maybe he just hat an accident or has an emergency? Noone knows - but then, there is noone to replace him.
This is not a problem. Judge me by my size do you? All those things, extra staff, phones etc. are not needed to run a small, tight ship. The size of the company doesn't matter, what does matter is whether it is profitable. This is micro-investment come true. Many companies/startup would go out of business tomorrow if one of the founders was hit by a bus, they're a key man, and there are plenty of one or two man operations worth millions in the world. Also GLBSE is not the NYSE, we don't do valuations of billions(yet), what we do do however is allow people to make small investments at almost 0 overhead (good luck doing that with a share broker or even stock market trading website). Secondly we allow people with great ideas and drive to get the capital they need to get going. GLBSE itself is an investment of myself and several others. You can see the share of BG. It is to allow the most efficient allocation of resources available. |
PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com |
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Whoever mines the block which ends up containing your transaction will get its fee.
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Ben Walsh (beamer)
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August 16, 2011, 09:27:50 AM |
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NetTecture ...
Why are you so determined to undermine the efforts of others?
So far you have come across as an insulting and angry person.
I suspect that either you feel threatened by the competition one or more of the GLBSE listed companies represent or your own Bitcoin related business has already failed and feel they are responsible in some way.
If you have no intention of investing in SIN then kindly leave the thread so that others who want to / have can conduct our business in peace.
We are not children and are more than aware of the risks we take by investing.
Start your own thread if you want. I'll happily debate this stuff with you.
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NetTecture
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August 16, 2011, 09:43:56 AM |
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Neitner nor.
* My own bitcion busienss can not fail because there is none. You cant run a bitcoin business unless lets say 75% of all income and expenditure isi n BTC - which curently wont work. I am accumulating bitcoin.
* Sorry, I would LOVE to invest into GLBSE companies, including one or two mining outfits. Just it seems there are nont worth investing. IBB - a childs joke (balance sheet is what - 500 USD?). SIN - the largest so far obviously not following up with it's obligations and telling me not to invest a SMALL amount of money (which i could just buying shares) as it would blow the capacity.
I am more fearfull that GLBSE will blow up legally at one point and / or the companies will. WHich may be bad. What is needed is some sensible business putting something up in a fully legal way. And no, dont even look into my direction - I wont take third party funds even if my life depends on it, matter of principle.
I would love SIN to actually live up to it's potential and turn into a viable investment. I would be the first to buy a couple of thousand USD in shares.
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Ten98
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August 16, 2011, 12:24:05 PM |
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Neitner nor.
* My own bitcion busienss can not fail because there is none. You cant run a bitcoin business unless lets say 75% of all income and expenditure isi n BTC - which curently wont work. I am accumulating bitcoin.
* Sorry, I would LOVE to invest into GLBSE companies, including one or two mining outfits. Just it seems there are nont worth investing. IBB - a childs joke (balance sheet is what - 500 USD?). SIN - the largest so far obviously not following up with it's obligations and telling me not to invest a SMALL amount of money (which i could just buying shares) as it would blow the capacity.
I am more fearfull that GLBSE will blow up legally at one point and / or the companies will. WHich may be bad. What is needed is some sensible business putting something up in a fully legal way. And no, dont even look into my direction - I wont take third party funds even if my life depends on it, matter of principle.
I would love SIN to actually live up to it's potential and turn into a viable investment. I would be the first to buy a couple of thousand USD in shares.
Is it possible for a Mod to remove all these argument posts from this thread and start a new one called "Are bitcoin stock exchange businesses legal" or something? I am so sorry for contributing to this stupid argument.  |
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Ben Walsh (beamer)
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August 16, 2011, 02:31:28 PM
Last edit: August 16, 2011, 02:54:55 PM by Ben Walsh (beamer) |
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Tawsix (OP)
Full Member
 Offline
Activity: 210
Merit: 100
I have always been afraid of banks.
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August 17, 2011, 11:22:30 PM |
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Sorry again for the late payment, I will be doing payments on Wednesday for the foreseeable future, it works much better into my schedule.
I will be pasting the GLBSE response for the pay command as well from now on, it's rather informative:
{'amount': 1639000000, 'assets_paid': 2304, 'payment_per_share': 711371}
A total of 48.17 BTC was generated. 15.39 BTC was used to pay for electricity. 16.39 BTC was reinvested in to the company, and an equal amount was paid out to shareholders. Expense update is as follows:
Electricity: $158.73
I apologize for the state of the company, I'm having difficulties with some RMA's, which is why the output is currently low. Due to constraints on capacity as well as my ability to dedicate a large portion of time to expand capacity, we will not be expanding further until September at the earliest. I am not sure how much larger we will be able to get without taking a leap from small-time to big-time, and at this moment I do not have the schedule to allow for making that leap. If there is still a lot of interest in the company when my schedule clears up, we will discuss further expansion. Because I am unsure if or when we'll make that next step, I've taken down the IPO, any money raised from investment will essentially sit in my GLBSE account and only serve to dilute the amount of BTC paid as dividends without increasing output.
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boonies4u
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August 18, 2011, 01:58:12 AM |
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Sorry again for the late payment, I will be doing payments on Wednesday for the foreseeable future, it works much better into my schedule.
I will be pasting the GLBSE response for the pay command as well from now on, it's rather informative:
{'amount': 1639000000, 'assets_paid': 2304, 'payment_per_share': 711371}
A total of 48.17 BTC was generated. 15.39 BTC was used to pay for electricity. 16.39 BTC was reinvested in to the company, and an equal amount was paid out to shareholders. Expense update is as follows:
Electricity: $158.73
I apologize for the state of the company, I'm having difficulties with some RMA's, which is why the output is currently low. Due to constraints on capacity as well as my ability to dedicate a large portion of time to expand capacity, we will not be expanding further until September at the earliest. I am not sure how much larger we will be able to get without taking a leap from small-time to big-time, and at this moment I do not have the schedule to allow for making that leap. If there is still a lot of interest in the company when my schedule clears up, we will discuss further expansion. Because I am unsure if or when we'll make that next step, I've taken down the IPO, any money raised from investment will essentially sit in my GLBSE account and only serve to dilute the amount of BTC paid as dividends without increasing output.
Will you be bring the hash rate back up to where it was before? Or is it going to be staying at around 8k? |
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Tawsix (OP)
Full Member
Offline
Activity: 210
Merit: 100
I have always been afraid of banks.
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August 18, 2011, 10:10:39 AM |
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Sorry again for the late payment, I will be doing payments on Wednesday for the foreseeable future, it works much better into my schedule.
I will be pasting the GLBSE response for the pay command as well from now on, it's rather informative:
{'amount': 1639000000, 'assets_paid': 2304, 'payment_per_share': 711371}
A total of 48.17 BTC was generated. 15.39 BTC was used to pay for electricity. 16.39 BTC was reinvested in to the company, and an equal amount was paid out to shareholders. Expense update is as follows:
Electricity: $158.73
I apologize for the state of the company, I'm having difficulties with some RMA's, which is why the output is currently low. Due to constraints on capacity as well as my ability to dedicate a large portion of time to expand capacity, we will not be expanding further until September at the earliest. I am not sure how much larger we will be able to get without taking a leap from small-time to big-time, and at this moment I do not have the schedule to allow for making that leap. If there is still a lot of interest in the company when my schedule clears up, we will discuss further expansion. Because I am unsure if or when we'll make that next step, I've taken down the IPO, any money raised from investment will essentially sit in my GLBSE account and only serve to dilute the amount of BTC paid as dividends without increasing output.
Will you be bring the hash rate back up to where it was before? Or is it going to be staying at around 8k? We'll be fixing all the existing machines, just not buying new ones. |
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Ben Walsh (beamer)
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August 18, 2011, 10:42:07 AM |
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In light of recent events, I, as an investor, want to be able to accurately value this company. The base value is formed from the value of it's assets - you and the mining machines. As part of the work for your compensation this week I ask again that you produce a detailed financial record, in the form of a spreadsheet detailing all company assets and make this available to all shareholders. I don't want to hear anything about 'business confidentiality' at this stage I am deciding whether I remove my investment from this business. You have one week to produce this. I will be calling for a vote if this deadline is not met. Sorry again for the late payment, I will be doing payments on Wednesday for the foreseeable future, it works much better into my schedule.
I will be pasting the GLBSE response for the pay command as well from now on, it's rather informative:
{'amount': 1639000000, 'assets_paid': 2304, 'payment_per_share': 711371}
A total of 48.17 BTC was generated. 15.39 BTC was used to pay for electricity. 16.39 BTC was reinvested in to the company, and an equal amount was paid out to shareholders. Expense update is as follows:
Electricity: $158.73
I apologize for the state of the company, I'm having difficulties with some RMA's, which is why the output is currently low. Due to constraints on capacity as well as my ability to dedicate a large portion of time to expand capacity, we will not be expanding further until September at the earliest. I am not sure how much larger we will be able to get without taking a leap from small-time to big-time, and at this moment I do not have the schedule to allow for making that leap. If there is still a lot of interest in the company when my schedule clears up, we will discuss further expansion. Because I am unsure if or when we'll make that next step, I've taken down the IPO, any money raised from investment will essentially sit in my GLBSE account and only serve to dilute the amount of BTC paid as dividends without increasing output.
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Ten98
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August 18, 2011, 11:31:13 AM
Last edit: August 18, 2011, 12:33:12 PM by Ten98 |
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We'll be fixing all the existing machines, just not buying new ones.
Hello! Glad that you're back, I was getting worried there. Hope everything is ok. A consolidation phase is a very good idea at this stage. If I were you I'd take some time to get your existing rigs working at absolute optimal efficiency while you get all the broken parts RMA'd and replaced. Experiment with undervolting and underclocking your cards. This can yeild far better Bitcoin / Watt ratios than overclocking and overvolting. Given how much is being spent on electricity, underclocking should actually increase profit output rather than reduce it. Additionally, the lower temps should allow for a greater density of rigs in the available space when you start to expand again in the coming months. Figure out clever ways to maximise your space without affecting temperatures. For example, Do you use PCI-E ribbon cables rather than plugging the cards directly into the motherboard? this can be a great way to improve airflow and temps, allowing you to stack rigs even more closely together without overheating. Simple things like a really good cable tidying job can help a lot too. If we could have some pics of the mining hardware that would be really cool, and allow shareholders to suggest improvements... A company that can increase profit and growth potential while reducing expenditure and without taking on any new investment is a valuable prospect indeed. |
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Nefario
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August 18, 2011, 02:34:46 PM |
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SIN is in danger of being delisted. I have emailed tawsix at the begining of the week, and just sent him a PM. https://bitcointalk.org/index.php?topic=37414.014 hours remain for the SINs details to be updated before being delisted. Nefario. |
PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com |
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Ten98
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August 18, 2011, 02:41:15 PM |
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SIN is in danger of being delisted. I have emailed tawsix at the begining of the week, and just sent him a PM. https://bitcointalk.org/index.php?topic=37414.014 hours remain for the SINs details to be updated before being delisted. Nefario. That sounds bad. Do any funds get returned to Shareholders in that scenario?? |
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Nefario
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August 18, 2011, 02:45:20 PM |
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SIN is in danger of being delisted. I have emailed tawsix at the begining of the week, and just sent him a PM. https://bitcointalk.org/index.php?topic=37414.014 hours remain for the SINs details to be updated before being delisted. Nefario. That sounds bad. Do any funds get returned to Shareholders in that scenario?? Delisted means everything will be frozen, if the issue is fixed after the fact the company will be relisted. If it's not fixed after that then I'm not sure whats next. |
PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com |
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Ben Walsh (beamer)
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August 18, 2011, 02:48:06 PM |
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Is this something only the asset creator can do ? I'm not sure why I am even considering doing this myself, given Tawsix is getting 50% of the profits, as compensation for doing exactly this stuff but I thought I'd ask nonetheless. SIN is in danger of being delisted. I have emailed tawsix at the begining of the week, and just sent him a PM. https://bitcointalk.org/index.php?topic=37414.014 hours remain for the SINs details to be updated before being delisted. Nefario. That sounds bad. Do any funds get returned to Shareholders in that scenario?? Delisted means everything will be frozen, if the issue is fixed after the fact the company will be relisted. If it's not fixed after that then I'm not sure whats next. |
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server
Legendary
Offline
Activity: 892
Merit: 1002
1 BTC =1 BTC
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August 18, 2011, 02:49:25 PM |
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SIN is in danger of being delisted. I have emailed tawsix at the begining of the week, and just sent him a PM. https://bitcointalk.org/index.php?topic=37414.014 hours remain for the SINs details to be updated before being delisted. Nefario. That sounds bad. Do any funds get returned to Shareholders in that scenario?? Delisted means everything will be frozen, if the issue is fixed after the fact the company will be relisted. If it's not fixed after that then I'm not sure whats next. Nefario, aren't you changing the rules while we're playing ? |
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server
Legendary
Offline
Activity: 892
Merit: 1002
1 BTC =1 BTC
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August 18, 2011, 02:52:18 PM |
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..., given Tawsix is getting 50% of the profits, ....
50%+++ because he bought shares back. |
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Ten98
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August 18, 2011, 03:09:26 PM |
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SIN is in danger of being delisted. I have emailed tawsix at the begining of the week, and just sent him a PM. https://bitcointalk.org/index.php?topic=37414.014 hours remain for the SINs details to be updated before being delisted. Nefario. That sounds bad. Do any funds get returned to Shareholders in that scenario?? Delisted means everything will be frozen, if the issue is fixed after the fact the company will be relisted. If it's not fixed after that then I'm not sure whats next. Nefario, aren't you changing the rules while we're playing ? To be fair, all he has to do is enter an email address and a short description about the company, it'll take about 5 minutes to create a gmail account or somesuch so not exactly a hardship. If the company owner can't find time to do this tiny task, should they really be running a company? |
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boonies4u
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August 18, 2011, 03:45:34 PM |
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SIN is in danger of being delisted. I have emailed tawsix at the begining of the week, and just sent him a PM. https://bitcointalk.org/index.php?topic=37414.014 hours remain for the SINs details to be updated before being delisted. Nefario. That sounds bad. Do any funds get returned to Shareholders in that scenario?? Delisted means everything will be frozen, if the issue is fixed after the fact the company will be relisted. If it's not fixed after that then I'm not sure whats next. Nefario, aren't you changing the rules while we're playing ? To be fair, all he has to do is enter an email address and a short description about the company, it'll take about 5 minutes to create a gmail account or somesuch so not exactly a hardship. If the company owner can't find time to do this tiny task, should they really be running a company? ___ Public information about companies traded on GLBSE, when researching a company look for: Constant communication. Financial reports. The business managers identity. ___ Are you sure an email and a short description is all that is needed? |
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Nefario
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August 18, 2011, 03:53:40 PM |
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Nefario, aren't you changing the rules while we're playing ?
Yes, yes I am. And the rules will continue to change, and change for a reason(and for the better), read GLBSE's terms and conditions, it mentions subject to change at any time. The reason this is being made a requirement, people found it very hard to learn anything about the companies being listed. I'd contacted the company managers after setting up the listing page, giving them the admin login (doesn't even need a password). Only 2 filled in the information. So I have made it a requirement that all listed companies need to have up to date information. The absolute minimum is name, ticker, a private email (so that I can contact the company) and a short description, the others are voluntary. Beamer, yes the site admin is the one who must enter the information (it's their email), also it's their responsibility. Listen I'm a very free market wild west kind of guy, I hate having rules, but like rules of the road some really are needed to stop the walls falling in. There will be more changes and rules to come in the future, but I really want to keep them to a min, the absolute min. |
PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com |
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Ben Walsh (beamer)
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August 18, 2011, 03:57:41 PM |
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I think Nerfario is quite right with the approach he is taking. Far too many of the currently listed companies provide no financial reports whatsoever and communicate monthly or less. This is ludicrous. How many hours do you think the CEOs of these companies are putting in ? What hourly rate are you therefore paying them via your investments ? When GLBSE was first launched and during the following months, I was happy reward these new CEOs with investments that I wouldn't even consider in the "fiat world" ... I considered I was investing in the long term future of GLBSE, the businesses and the wider Bitcoin project - encouraging them all. Personally, that grace period is now over. SIN is in danger of being delisted. I have emailed tawsix at the begining of the week, and just sent him a PM. https://bitcointalk.org/index.php?topic=37414.014 hours remain for the SINs details to be updated before being delisted. Nefario. That sounds bad. Do any funds get returned to Shareholders in that scenario?? Delisted means everything will be frozen, if the issue is fixed after the fact the company will be relisted. If it's not fixed after that then I'm not sure whats next. Nefario, aren't you changing the rules while we're playing ? To be fair, all he has to do is enter an email address and a short description about the company, it'll take about 5 minutes to create a gmail account or somesuch so not exactly a hardship. If the company owner can't find time to do this tiny task, should they really be running a company? ___ Public information about companies traded on GLBSE, when researching a company look for: Constant communication. Financial reports. The business managers identity. ___ Are you sure an email and a short description is all that is needed? |
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