SkepsiDyne Integrated Node - The Bitcoin Mining Company

[Ben Walsh (beamer)]

It is time for either a sacking of Tawsix as CEO or a hostile takeover by one of the other companies.

$15,000 is a considerable sum, particularly for those who don't live in the Western world.

It is also a sum which attracts considerably higher penalties for theft/fraud, should the other shareholders decide to take that option too.

I realise Tawsix is new to much of this and relatively young, however, he is legally (never mind morally) obligated to respond to the questions he is receiving here and the emails he is receiving at . He may believe himself to be hidden but he is truly not - a basic set of Google searches retrieves significant amounts of recent information about his true identity and location - ample to launch a legal case in the USA, should it prove necessary - all of which I have archived. Last chance for him to respond.

At this point it has become clear that you, Tawsix, are either incredibly stupid, or a scammer. Unfortunately, I believe it is the latter seeing as plenty of people have offered their help (even investors, at no charge) to try and keep this "company" afloat. It should have been obvious to me you weren't capable right at the beginning, when your calculations were off and you refused to answer questions. I'm sorry to have ever invested in this company, and I'm taking it as a hard lesson learned for quite a price.

I hope we're thinking of liquidating hardware and cutting losses. Even if price goes up and difficulty goes down, this isn't going to work with someone who is very clearly stealing (which we can't prove since he shows NO calculations and now just "decides" that he's put enough work into this that his debt is paid) and/or totally mismanaging this.

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[teek]

Hi guys-  Thread jacker here    Can't help but notice the drama going on with some of the mining companies on the GLBSE.  If you're looking for a solid no bs GLBSE mining investment, check out GLBSE: BMMO.   Our power rate is low, we are actively experimenting with merged mining and actively looking into future technologies such as FPGA's.  We run a couple other companies, we have the techs, we have the facilities, we have the infrastructure.  Pretty much unless all of bitcoin goes down the toilet, we will not dissapoint.   I'll be posting more details about our mining operation in a few weeks, which I am sure will start looking pretty juicy to investors at that time. 

We are also thinking of offering shares of the actual company in the future (the BMMO asset is a share of mining capacity only, each share represents 1 mhash).     Our expected dividend per share (after fees) for October is looking to be around .014 btc per share. We are trying to keep fees low while keeping dividends high!


teek
blockminers.com


 

[SgtSpike]

It is time for either a sacking of Tawsix as CEO or a hostile takeover by one of the other companies.

$15,000 is a considerable sum, particularly for those who don't live in the Western world.

It is also a sum which attracts considerably higher penalties for theft/fraud, should the other shareholders decide to take that option too.

I realise Tawsix is new to much of this and relatively young, however, he is legally (never mind morally) obligated to respond to the questions he is receiving here and the emails he is receiving at . He may believe himself to be hidden but he is truly not - a basic set of Google searches retrieves significant amounts of recent information about his true identity and location - ample to launch a legal case in the USA, should it prove necessary - all of which I have archived. Last chance for him to respond.

At this point it has become clear that you, Tawsix, are either incredibly stupid, or a scammer. Unfortunately, I believe it is the latter seeing as plenty of people have offered their help (even investors, at no charge) to try and keep this "company" afloat. It should have been obvious to me you weren't capable right at the beginning, when your calculations were off and you refused to answer questions. I'm sorry to have ever invested in this company, and I'm taking it as a hard lesson learned for quite a price.

I hope we're thinking of liquidating hardware and cutting losses. Even if price goes up and difficulty goes down, this isn't going to work with someone who is very clearly stealing (which we can't prove since he shows NO calculations and now just "decides" that he's put enough work into this that his debt is paid) and/or totally mismanaging this.

I agree.  Legal action should be taken.  Question is, does anyone have any information about who Tawsix actually is?

[boonies4u]

I agree.  Legal action should be taken.  Question is, does anyone have any information about who Tawsix actually is?

Sounds like Ben Walsh knows.  I believe I identified him earlier on, when he was inactive for some weeks.  I am fairly confident that I could get the dox again if need-be.

[SgtSpike]

Someone should start grabbing copies of every piece of history on this whole thing as well.  Who knows whether this thread will happen to be deleted in the future, or information on GLBSE is suddenly gone.

I wouldn't be worried about the contract not holding up though, even though it's through a non-sanctioned "stock exchange".  People have written contracts on the back of napkins that hold up in court, so w/e.

[Ben Walsh (beamer)]

At this stage, I would say I am 90% confident I know Tawsix's true identity. However, I am all for second chances, so he has a week to demonstrate a willingness to treat the shareholders the way they deserve.

To be frank though, I have already pulled the vast majority of my investment, taking a relatively insignificant hair-cut, leaving me with a reasonable number of shares to be able to critically comment.

So, I am very much in spectator mode here, little to lose but very curious to see how others react to the behaviours being exhibited - I am as much interested in Bitcoin for the psychology / sociology aspects of its use (and that of the community around it) as anything else - I find it fascinating.

I agree.  Legal action should be taken.  Question is, does anyone have any information about who Tawsix actually is?

Sounds like Ben Walsh knows.  I believe I identified him earlier on, when he was inactive for some weeks.  I am fairly confident that I could get the dox again if need-be.

[Tawsix]

Well, difficulty certainly is approaching 1.5 mil, but i doubt that the drop in price helped any.

Difficulty will always lag behind the price.

They have invested some $15,000 into hardware, that at one time was generating nearly 13 ghps. When you "turned them off" they were generating a pathetic 8 ghps. I suspect you really still have the full 13 ghps turned on and mining somewhere else all for yourself.

Tawsix, you really need to give a full report on the status of the rigs; Yes, we were nearly at 13.

I want to know how much Ghps the rigs in their current status could produce. I want to know how much funds and time it would take to bring them back up to 13, if they aren't capable yet. I want to know how much funds could be liquidated if we were to sell all hardware at their current status and when they are back to full hashing power. I would like you to have discussions with both shareholders (i may speak to Nefario to see if someone can provide proof that they own shares), and the public here on the forum.

I would like you to put the time that you no longer are putting towards maintaining the rigs to some use.  Even though the rigs aren't running your job isn't over.

I hope that everyone else agrees with me.

The rigs in their current state can produce around 8-9 Ghps.  There are three computers down right now, two that won't stay on for reasons I was unable to determine and one that has need for graphics card replacement.  The two that won't stay on need a few days of playing with to figure out.  The one that needs new graphics cards needs either about $600 put into it or XFX and Gigabyte to stop giving me the runaround on the RMA.

If and when we decide that the company should be liquidated, depending on what the Bitcoin climate is, an investor could see a decent return based on what the price of BTC was when they invested (those who invested at higher prices will see more BTC, etc.)  If we pull out when prices are low like they are now, the liquidated funds will buy a lot more BTC than if the price jumps back up, and investors will get a lot more of their investment back.

I see a lot of concern with the efficiency of the machines being run, and that we should still be able to operate profitably.  I would like to make a very important point that many people who go into business mistakenly ignore: the cost of operation that I calculator for the machines is not limited to the energy costs, it also includes the cost of replacement for the parts as well.  It is important to do this when your income depends on any machines, because yes, we could be operating "profitably", but what happens when the rigs start breaking from running 24/7 at max load for a year?  All of a sudden we have a bunch of broken machines and no money to replace them with because we've been operating "profitably".  So with the cost of electricity, I add the cost of replacement, and that does effect us to the point of not being able to operate in the current condition of the economy.

With difficulty falling, all it will take is for the price of BTC to jump up 15-20 cents, and we will be able to mine profitably again.  However, I would say that unless we are making more than marginal őprofits, we should keep the rigs down.  There is no point in mining for the sake of mining, and putting more and more wear and tear on the rigs lowers their value.  I am not sure what the best method of moving forward is right now, and how we should go about deciding the future of the company.  I am open to suggestions.

[REF]

my vote is to liquidated everything.

[SgtSpike]

Well, difficulty certainly is approaching 1.5 mil, but i doubt that the drop in price helped any.

Difficulty will always lag behind the price.

They have invested some $15,000 into hardware, that at one time was generating nearly 13 ghps. When you "turned them off" they were generating a pathetic 8 ghps. I suspect you really still have the full 13 ghps turned on and mining somewhere else all for yourself.

Tawsix, you really need to give a full report on the status of the rigs; Yes, we were nearly at 13.

I want to know how much Ghps the rigs in their current status could produce. I want to know how much funds and time it would take to bring them back up to 13, if they aren't capable yet. I want to know how much funds could be liquidated if we were to sell all hardware at their current status and when they are back to full hashing power. I would like you to have discussions with both shareholders (i may speak to Nefario to see if someone can provide proof that they own shares), and the public here on the forum.

I would like you to put the time that you no longer are putting towards maintaining the rigs to some use.  Even though the rigs aren't running your job isn't over.

I hope that everyone else agrees with me.

The rigs in their current state can produce around 8-9 Ghps.  There are three computers down right now, two that won't stay on for reasons I was unable to determine and one that has need for graphics card replacement.  The two that won't stay on need a few days of playing with to figure out.  The one that needs new graphics cards needs either about $600 put into it or XFX and Gigabyte to stop giving me the runaround on the RMA.

If and when we decide that the company should be liquidated, depending on what the Bitcoin climate is, an investor could see a decent return based on what the price of BTC was when they invested (those who invested at higher prices will see more BTC, etc.)  If we pull out when prices are low like they are now, the liquidated funds will buy a lot more BTC than if the price jumps back up, and investors will get a lot more of their investment back.

I see a lot of concern with the efficiency of the machines being run, and that we should still be able to operate profitably.  I would like to make a very important point that many people who go into business mistakenly ignore: the cost of operation that I calculator for the machines is not limited to the energy costs, it also includes the cost of replacement for the parts as well.  It is important to do this when your income depends on any machines, because yes, we could be operating "profitably", but what happens when the rigs start breaking from running 24/7 at max load for a year?  All of a sudden we have a bunch of broken machines and no money to replace them with because we've been operating "profitably".  So with the cost of electricity, I add the cost of replacement, and that does effect us to the point of not being able to operate in the current condition of the economy.

With difficulty falling, all it will take is for the price of BTC to jump up 15-20 cents, and we will be able to mine profitably again.  However, I would say that unless we are making more than marginal őprofits, we should keep the rigs down.  There is no point in mining for the sake of mining, and putting more and more wear and tear on the rigs lowers their value.  I am not sure what the best method of moving forward is right now, and how we should go about deciding the future of the company.  I am open to suggestions.

Simple solution:  Take a vote.

Also, I demand you take back your claim of owning half of the shares now.  You are bound by the contract you described at the beginning of this thread - you can't just change that at your whim because it sounds good!

[shakaru]

What would it take to save this sinking ship? Facility? Hardware? Experience?

[boonies4u]

The rigs in their current state can produce around 8-9 Ghps.  There are three computers down right now, two that won't stay on for reasons I was unable to determine and one that has need for graphics card replacement.  The two that won't stay on need a few days of playing with to figure out.  The one that needs new graphics cards needs either about $600 put into it or XFX and Gigabyte to stop giving me the runaround on the RMA.

Do we have the 600 dollars to get the computer the new graphics cards?

If and when we decide that the company should be liquidated, depending on what the Bitcoin climate is, an investor could see a decent return based on what the price of BTC was when they invested (those who invested at higher prices will see more BTC, etc.)  If we pull out when prices are low like they are now, the liquidated funds will buy a lot more BTC than if the price jumps back up, and investors will get a lot more of their investment back.

I know the number of BTC returned will vary depending on the current market. I should receive my X shares of the 50% of the funds liquidated from the sold hardware if we choose to liquidate. The money that comes back to investors depends on how much value they invested, when you transferred the BTC to the currency used to buy hardware (probably USD), and the current value of the hardware.

I just don't think comparing BTC invested vs. BTC returned is that practical, given the changes in price over this year.

I see a lot of concern with the efficiency of the machines being run, and that we should still be able to operate profitably.  I would like to make a very important point that many people who go into business mistakenly ignore: the cost of operation that I calculator for the machines is not limited to the energy costs, it also includes the cost of replacement for the parts as well.  It is important to do this when your income depends on any machines, because yes, we could be operating "profitably", but what happens when the rigs start breaking from running 24/7 at max load for a year?  All of a sudden we have a bunch of broken machines and no money to replace them with because we've been operating "profitably".  So with the cost of electricity, I add the cost of replacement, and that does effect us to the point of not being able to operate in the current condition of the economy.

How much BTC have we saved up for part replacement? How much BTC do we have, period?

With difficulty falling, all it will take is for the price of BTC to jump up 15-20 cents, and we will be able to mine profitably again.  However, I would say that unless we are making more than marginal őprofits, we should keep the rigs down.  There is no point in mining for the sake of mining, and putting more and more wear and tear on the rigs lowers their value.  I am not sure what the best method of moving forward is right now, and how we should go about deciding the future of the company.  I am open to suggestions.

Would mining at 15-20 cents higher than 8.4-8.6 USD per BTC (I believe that was the price when you posted) be marginally profitable or "more than marginally profitable"?

Before I believe that a vote/motion on whether or not to liquidate should be done, I think you should show us your calculations used to determine what mining profitably entails.  I would also like to know how much funds we currently have, as well what would be needed to bring us back to the 13 Ghps. (Is it really just 600$?) I would like to see your calculations used to determine how many of your shares that you have "paid" for. I think you should be given compensation for the time you put into working on the rigs, I just want to make sure that you are correctly compensated.

Thank you for the comprehensive reply.

What would it take to save this sinking ship? Facility? Hardware? Experience?

Given who you are, i'd say you have the Facility, Hardware, and Experience, and are hoping to sell some . (selling exp is bad, that's boosting  )

[shakaru]

What would it take to save this sinking ship? Facility? Hardware? Experience?

Given who you are, i'd say you have the Facility, Hardware, and Experience, and are hoping to sell some . (selling exp is bad, that's boosting  )
[/quote]

I will give this as an open invitation to Tawsix and the members of SIN, give me a call on the SDM business line during 9am-9pm 7days a week @ 1-310-982-6597. I will be available handling papers all day tomorrow and  some small things around the office.
Otherwise I can be reached here or via email @ Shakaru@ShadesMinoco.com or via Skype at Andrew_Nollan.
Let get this mess cleaned up.

[Tawsix]

What would it take to save this sinking ship? Facility? Hardware? Experience?

Time, and low electricity costs.

Do we have the 600 dollars to get the computer the new graphics cards?

Until the next electric bill comes, I can't be certain, as many factors make precise estimation of the bill almost impossible, as well as the fact that we were operating at somewhat of a loss for a short period, but I think it may be close.

I know the number of BTC returned will vary depending on the current market. I should receive my X shares of the 50% of the funds liquidated from the sold hardware if we choose to liquidate. The money that comes back to investors depends on how much value they invested, when you transferred the BTC to the currency used to buy hardware (probably USD), and the current value of the hardware.

I just don't think comparing BTC invested vs. BTC returned is that practical, given the changes in price over this year.

Very true.  I cannot say what the return will be in that case, as many people bought in at many different prices, and their investments were not always sold at prices close to that of the time when they invested the BTC.

How much BTC have we saved up for part replacement? How much BTC do we have, period?

Once again, I can not give an exact figure at this time, as the next electric bill has not yet been received.  It will be soon, however, and then I can give an account of that.  I would like to say that we have no funds held in BTC at the moment, what extra we have is held in USD.

Would mining at 15-20 cents higher than 8.4-8.6 USD per BTC (I believe that was the price when you posted) be marginally profitable or "more than marginally profitable"?

The price was actually around 3,90 USD when I made that post, and it has continued to fall.  This of course will push down difficulty as more people drop out, but at the time it would have been marginally profitable, probably only being in the black by a few bitcents.  I am anxious to see where the difficulty and price goes from here.

Before I believe that a vote/motion on whether or not to liquidate should be done, I think you should show us your calculations used to determine what mining profitably entails.  I would also like to know how much funds we currently have, as well what would be needed to bring us back to the 13 Ghps. (Is it really just 600$?) I would like to see your calculations used to determine how many of your shares that you have "paid" for. I think you should be given compensation for the time you put into working on the rigs, I just want to make sure that you are correctly compensated.

Basically I look at what our operating costs have typically been, then I check that against the current price of BTC and the current difficulty as well as what little forecasting can be done with the BTC economy and then make the call.  As a rule, if each share that gets paid receives less than .005 BTC, I start considering it marginally profitable, and if it continues I see no reason to continue.  Once again, some time during this week I will be able give an accurate account of how much money we have in reserve.  That $600 is a high estimate, as the market for GPUs (which is basically what it would be paying for) has come down quite a bit.  That number is a worst case scenario at worst, my pessimistic side at best.  I understand your request for an account of my compensation, and I will do my best to provide it as soon as possible.

I will give this as an open invitation to Tawsix and the members of SIN, give me a call on the SDM business line during 9am-9pm 7days a week @ 1-310-982-6597. I will be available handling papers all day tomorrow and  some small things around the office.
Otherwise I can be reached here or via email @ Shakaru@ShadesMinoco.com or via Skype at Andrew_Nollan.
Let get this mess cleaned up.

I will send you an email this week and we can discuss plans in the event of liquidation of SIN.  Thank you for your interest.

[boonies4u]

On a note that may only matter if we get back to mining. I am really liking the documentation of ANN (another BTC mining company traded on GLBSE) https://bitcointalk.org/index.php?topic=46693.0. The reason that he may be able to have more documentation on current things is because the mining operation is legally a part of business he already has set up.

In the event that the we resume mining, I believe that better/more documentation will help your image and the image of SIN as a whole. I have grown quite tired of the plummeting share price and the constant criticism of how you operate SIN.

In the event of liquidation I want to know exactly what is being sold for what price. Not necessarily the price of each item sold, especially in the case that an entity, like Shades Minoco, were to buy the GPUs for a lump sum.

Either way, I would like to know what hardware we actually have.

Would mining at 15-20 cents higher than 8.4-8.6 USD per BTC (I believe that was the price when you posted) be marginally profitable or "more than marginally profitable"?

The price was actually around 3,90 USD when I made that post, and it has continued to fall.  This of course will push down difficulty as more people drop out, but at the time it would have been marginally profitable, probably only being in the black by a few bitcents.  I am anxious to see where the difficulty and price goes from here.

I honestly don't know where I got 8.4-8.6 USD from, must have been a typo, or a delusion.

[SgtSpike]

Tawsix, SHOW US SOME CALCULATIONS already!  How many times have we asked for specifics, yet you only give a vague "it's not profitable right now" response?

[boonies4u]

Tawsix, SHOW US SOME CALCULATIONS already!  How many times have we asked for specifics, yet you only give a vague "it's not profitable right now" response?

Electric Bill is a key variable in his calculations. We are waiting for said variable.

[SgtSpike]

Tawsix, SHOW US SOME CALCULATIONS already!  How many times have we asked for specifics, yet you only give a vague "it's not profitable right now" response?

Electric Bill is a key variable in his calculations. We are waiting for said variable.

How about:
- Rig specs
- Electric rate (including various tiers)
- Listing of all equipment purchased
- Listing of any equipment needing RMA



How come Tawsix refuses to provide any of this information?  It's because he has something to hide...

[boonies4u]

Tawsix, SHOW US SOME CALCULATIONS already!  How many times have we asked for specifics, yet you only give a vague "it's not profitable right now" response?

Electric Bill is a key variable in his calculations. We are waiting for said variable.

How about:
- Rig specs
- Electric rate (including various tiers)
- Listing of all equipment purchased
- Listing of any equipment needing RMA



How come Tawsix refuses to provide any of this information?  It's because he has something to hide...

1. I've already asked for
2. He has already given that information earlier in this thread
3. Basically same as 1.
4. Yeah, we could use that info

He has refused to supply this information in the past, probably because he thought that he was running his rigs in some special (proprietary, shush shush) way.

He doesn't have much choice now, and if we decide to continue mining, he knows that he cannot continue to run Skepsidyne as he has, or he will constantly berated by people like you. Which isn't very good for the image of SIN.

I am tired of
1. The lack of information Tawsix has given us
2. The cynicism coming for people like you

You're not helping, so please kindly... GTFO

[SgtSpike]

Tawsix, SHOW US SOME CALCULATIONS already!  How many times have we asked for specifics, yet you only give a vague "it's not profitable right now" response?

Electric Bill is a key variable in his calculations. We are waiting for said variable.

How about:
- Rig specs
- Electric rate (including various tiers)
- Listing of all equipment purchased
- Listing of any equipment needing RMA



How come Tawsix refuses to provide any of this information?  It's because he has something to hide...

1. I've already asked for
2. He has already given that information earlier in this thread
3. Basically same as 1.
4. Yeah, we could use that info

He has refused to supply this information in the past, probably because he thought that he was running his rigs in some special (proprietary, shush shush) way.

He doesn't have much choice now, and if we decide to continue mining, he knows that he cannot continue to run Skepsidyne as he has, or he will constantly berated by people like you. Which isn't very good for the image of SIN.

I am tired of
1. The lack of information Tawsix has given us
2. The cynicism coming for people like you

You're not helping, so please kindly... GTFO

I am cynical because this is information that he should have provided right from the start, and it is information that is not difficult to acquire/generate.  Basically, there is no legitimate reason he could possibly have to withhold this information.  Thus, I must make the assumption that there is some illegitimate reason he is withholding the information.

I just want some answers to the questions that people have been asking all along, that's all.

I'm sorry our methods of conflict resolution do not jive.  But that's not my problem, and I'm not going to leave this thread just because you told me to.

[LehmanSister]

I'm sorry our methods of conflict resolution do not jive.  But that's not my problem, and I'm not going to leave this thread just because you told me to.

It appears to me that in a pure market like this, the most wisest strategy is creating a hedge fund with a bounty contract on the head of the CEO. In the event of failure to execute, execution is made, or disbursements of hardware are done. Theft makes for death but giving the CEO a way to back out of a failed business via liquidation of assets and the hedge appears reasonable. IIRC, this is how the Pinkerton's began and how mining contracts were handled, in ye ole west. Auction houses.... etc.