SkepsiDyne Integrated Node - The Bitcoin Mining Company

[SgtSpike]

So we can assume tawsix controls ~8,000 with which he can do whatever with...

If he votes with those ~8k shares, then we know that he doesn't give a fuck what we think and that we need to take him to court.

Yeah that.  It'll be pretty clear the course of action that needs to be taken if there's suddenly a huge amount of shares voting towards liquidation.

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[bulanula]

So we can assume tawsix controls ~8,000 with which he can do whatever with...

If he votes with those ~8k shares, then we know that he doesn't give a fuck what we think and that we need to take him to court.

Yeah that.  It'll be pretty clear the course of action that needs to be taken if there's suddenly a huge amount of shares voting towards liquidation.

LOL. We got owned on GLBSE as well. Pretty smart to own 51% of the shares so only you can vote. Damn scammer !

[boonies4u]

So we can assume tawsix controls ~8,000 with which he can do whatever with...

If he votes with those ~8k shares, then we know that he doesn't give a fuck what we think and that we need to take him to court.

Yeah that.  It'll be pretty clear the course of action that needs to be taken if there's suddenly a huge amount of shares voting towards liquidation.

LOL. We got owned on GLBSE as well. Pretty smart to own 51% of the shares so only you can vote. Damn scammer !

It has been known since start he would be giving himself controlling interest.

[SgtSpike]

So we can assume tawsix controls ~8,000 with which he can do whatever with...

If he votes with those ~8k shares, then we know that he doesn't give a fuck what we think and that we need to take him to court.

Yeah that.  It'll be pretty clear the course of action that needs to be taken if there's suddenly a huge amount of shares voting towards liquidation.

LOL. We got owned on GLBSE as well. Pretty smart to own 51% of the shares so only you can vote. Damn scammer !

Did he vote with his shares?  How many shares?

[shakaru]

If the shares are the IPO shares, they cannot vote. However, if he transferred them to another GLBSE account and back, he can then vote with them, but they are then considered stolen.

Why is the issue of abortion not here? We had discussed that it would be put up here along side this motion yet again there is nothing.

[SgtSpike]

If the shares are the IPO shares, they cannot vote. However, if he transferred them to another GLBSE account and back, he can then vote with them, but they are then considered stolen.

Why is the issue of abortion not here? We had discussed that it would be put up here along side this motion yet again there is nothing.

Well, that's a very serious issue.  I don't think the Bitcoin folks are really qualified to make any sort of agreement or decision in that realm of politics...

[boonies4u]

So we can assume tawsix controls ~8,000 with which he can do whatever with...

If he votes with those ~8k shares, then we know that he doesn't give a fuck what we think and that we need to take him to court.

Yeah that.  It'll be pretty clear the course of action that needs to be taken if there's suddenly a huge amount of shares voting towards liquidation.

LOL. We got owned on GLBSE as well. Pretty smart to own 51% of the shares so only you can vote. Damn scammer !

Did he vote with his shares?  How many shares?

There are only 14 Yea votes, so I can safely say that Tawsix has not voted.

On a related note, GLBSE is back up (had some downtime last night), and I was able to get my votes in.

[shakaru]

I am about ready to withdraw my offer and just file suit. The more and more I look into this, the less and less I want anything to do with SIN. There has been no evidence of any hardware. The number on output never matched up and I am pretty sure that the operation was run as a ponzi scheme paying out "dividends" by using the btc used to buy shares to pay out these.
I will make this clear. Given almost any outcome at this point, I am taking you to court Tawsix. The way you have handled operation has not only been negligent but criminal. Every btc that has been traded to you for shares of SIN was intended only for that specific purpose and under the belief that the contract that was purchased would remain vaild. As of now you are in breach of the contract. Your only bailout clause states that you can only terminate in the even that mining become unprofitable, which with the hardware asset already in possession, cannot be the case given the electrical cost you have previously provided.
Secondly, you have been offered both offers to keep the operation running as well as ones for sale in which you would not provide a list of items for sale despite stating that you would.

In the short reply to my first offer, you stated the following.

Subject   Liquidating SIN
Sender   tawsix@skepsidyne.com
Recipient   Shakaru@ShadesMinoco.com
Date   07.11.2011 00:40

shakaru,

Hello, I am sorry it took so long to get into contact with you after I said I would.  I have been very busy lately.  I received your message on the forums and there will be no need to pursue legal action, I am fully willing to wrap up SIN, I have just been preoccupied with other matters lately.  I am unsure exactly what you are offering as far as helping with the liquidation, and what information you need to move forward.  I look forward to your response.

To reply to you, I stated the offer that I have made publicly here that a motion be put forward to have SDM absorb SIN in all respects, assets and operation. Your response was... [here is the full response with replys]

Unfortunately I am not interested in trading the hardware for shares.  I am looking to outright sell the assets of the company, pass on the money to investors, and allow them to decide what to do with it.  If you are still interested in acquiring SIN's assets I will personally forward the list of hardware to you when I have completed compiling it.  If this is not something you are interested in, I will be selling SIN's assets and paying out the proceeds to investors as they come in.

On Tue, 08 Nov 2011 12:38:01 -0500, <shakaru@shadesminoco.com> wrote:
(having to type this all again as my browser ate the first copy)

An absorbtion is where a party or person is tied to a contractual
obligation and wishes to either sell, liquidate or any other action
that would break said contract. In that case, or ones especially
simular to this, an absorbtion can occur when another interested party
wished to take over the contract as well as the assets of the breaking
party.

This is what happened with Wiseolowls mining company when it folded.
A hardware and asset manifest was provded, my partner and I evaulated
it against the public information that has been collected and make a
choice on if the asset that will be transfered can substain opperation
once combined into SDM.

In this case, I would like to work it out as such. Provided that the
hardware, website, GLBSE listings are acceptable, SDM would open a
non-public option. That option would be used to buy back existing SIN
shares in exchange for SDM shares. Once the buy back is compleate and
everything is good, you can walk away from this mess.

Let me know if this sounds good to you. Also, you do have a backup
key for the GLBSE login for SIN correct? That is a very vital piece of
binary sorcery there.




On Mon, 07 Nov 2011 20:07:58 -0500, <tawsix@skepsidyne.com> wrote:
While I am preparing the list of hardware, please elucidate your
"absorption" plan and what it entails.

On Mon, 07 Nov 2011 13:58:05 -0500, <shakaru@shadesminoco.com> wrote:
What I need to know is exactly what hardware you have, what the
outstanding amount of shares are that get a dvidend payment. Once I
know that, I am prepared to assorb the opperation and run it as a
subsid of SDM.

Plese gather a list of all hardware. (gpus, hdds, mobo, adapters, psus, ect)

On Mon, 07 Nov 2011 00:40:19 -0500, <tawsix@skepsidyne.com> wrote:
shakaru,

Hello, I am sorry it took so long to get into contact with you after
I said I would.  I have been very busy lately.  I received your
message on the forums and there will be no need to pursue legal
action, I am fully willing to wrap up SIN, I have just been
preoccupied with other matters lately.  I am unsure exactly what you
are offering as far as helping with the liquidation, and what
information you need to move forward.  I look forward to your
response.

I am not here to be nice. I am a very pissed off investor. You are a crook. I am only offering to absorb SIN because I already have hardware that dwarfs your vaporware operation, the experience and knowledge of not just how to run a successful operation but also how to act and respond to the people who foot your bills. Ontop of that, I know damn well that I am calling out your bluff. So stop it with this bull shit and start talking.

[Ben Walsh (beamer)]

As others have said, the motion is pointless without knowing exactly what the assets of the company are. I'm not going to vote until I have that information. It is unprofessional and unfair for Tawsix to withhold that information any further. I'm rapidly moving back to the position that legal action is the only way this is going to be resolved.

[SgtSpike]

[notme]

As others have said, the motion is pointless without knowing exactly what the assets of the company are. I'm not going to vote until I have that information. It is unprofessional and unfair for Tawsix to withhold that information any further. I'm rapidly moving back to the position that legal action is the only way this is going to be resolved.

I agree, but I don't have the assets to file suit.  Luckily, I only hold 2 shares of the steaming pile.

[Tawsix]

SKEPSIDYNE INVESTORS ARE CURRENTLY VOTING ON LIQUIDATING THE COMPANY

Due to the low prices BTC has fallen to, it has become unprofitable to operate the machines, so a motion has been put up to liquidate the company and pay out proceeds back to investors.  This vote will be up until midnight Tuesday, November 22nd.  If you are investor and have any questions regarding the liquidation, please post them here, PM me, or email me at tawsix@skepsidyne.com.

-Tawsix

I will be posting this periodically over the next few days so investors who are just now coming into the thread know the situation.

To address some issues people have brought up recently: I contend that I have paid off my debt to the company between my reinvestment and the time and materials I have personally contributed, as well as the time and materials of others who contributed to the company.  $15837.93 is the amount of money that was raised by the company from the IPO.  I have paid back 202.7945 BTC back into the company for a value of $3411.58 through reinvestment of dividends, I put 30 BTC of my own from my time solo mining into the company at the beginning (when BTC was at around $7.50, so about $225 from that), I provided a building (with insurance) to house the machines which I valued at $200/month (far below what we would have actually paid to rent a space), and I provided at least $500 of materials to build racks and a cooling system.  In addition to that, I logged 243 hours working directly on this project, at a rate of $35/hour.  I also contracted the work of several others to help with electrical setup, rack setup, cooling setup, etc. as well as to help take care of the machines in the event that I was unable to attend to them.

I think that this is value I added to the company and value that I should be able to be remunerated for.  I do not think I am being unfair in any of the prices or rates I listed.  When all is said and done I have invested quite a bit of time and personal capital into this company that would have otherwise had to be paid for by the company, cutting into dividend payments and growth.  My investment has easily been worth the $15837.93 that investors contributed.

There are a few people in this thread who contend that I am a scammer and am running a Ponzi scheme and that I have broken countless laws and the contract that this company was set up under.  I have not scammed anyone, and no one can point at one thing I have done to scam the people who invested in this company.  This is obviously not a Ponzi scheme, as evidence by the output logged on btcmine.com, illustrated by the graphs sharp provided for us.  The contention that it is against the contract to liquidate the company is literally the opposite of the truth; there is literally a clause dealing with the procedures of liquidating the company, which I quoted earlier in the thread.

I have done my best to operate this company to the benefit of the investors.  I have never done anything to try and scam anyone who invested.  You trusted me enough to give me, a complete stranger and unknown, the capital to start this enterprise.  There were a lot of bumps along the way and you still trusted me.  All I ask is that you keep trusting me and look through the few disgruntled people who loudly throw accusations around.

[Matthew N. Wright]

All I ask is that you keep trusting me and look through the few disgruntled people who loudly throw accusations around.

*cough* shakaru *cough*

[notme]

I will be posting this periodically over the next few days so investors who are just now coming into the thread know the situation.

To address some issues people have brought up recently: I contend that I have paid off my debt to the company between my reinvestment and the time and materials I have personally contributed, as well as the time and materials of others who contributed to the company.  $15837.93 is the amount of money that was raised by the company from the IPO.  I have paid back 202.7945 BTC back into the company for a value of $3411.58 through reinvestment of dividends, I put 30 BTC of my own from my time solo mining into the company at the beginning (when BTC was at around $7.50, so about $225 from that), I provided a building (with insurance) to house the machines which I valued at $200/month (far below what we would have actually paid to rent a space), and I provided at least $500 of materials to build racks and a cooling system.  In addition to that, I logged 243 hours working directly on this project, at a rate of $35/hour.  I also contracted the work of several others to help with electrical setup, rack setup, cooling setup, etc. as well as to help take care of the machines in the event that I was unable to attend to them.

I think that this is value I added to the company and value that I should be able to be remunerated for.  I do not think I am being unfair in any of the prices or rates I listed.  When all is said and done I have invested quite a bit of time and personal capital into this company that would have otherwise had to be paid for by the company, cutting into dividend payments and growth.  My investment has easily been worth the $15837.93 that investors contributed.

I'm working at a startup for $12/hr.  We keep costs low so we can develop a quality product without rushing to release.  You however have blown through your startup capital and are unable to deliver a product.  Hard to be sympathetic to the idea you should bear none of the losses.

[boonies4u]

$15837.93 is the amount of money that was raised by the company from the IPO.

I have paid back 202.7945 BTC back into the company for a value of $3411.58 through reinvestment of dividends

I put 30 BTC of my own from my time solo mining into the company at the beginning (when BTC was at around $7.50, so about $225 from that)

I provided a building (with insurance) to house the machines which I valued at $200/month (far below what we would have actually paid to rent a space
(200*4 = $800)

I provided at least $500 of materials to build racks and a cooling system.

In addition to that, I logged 243 hours working directly on this project, at a rate of $35/hour.
(35*243 = $8505)

I also contracted the work of several others to help with electrical setup, rack setup, cooling setup, etc. as well as to help take care of the machines in the event that I was unable to attend to them.

I think that this is value I added to the company and value that I should be able to be remunerated for.  I do not think I am being unfair in any of the prices or rates I listed.  When all is said and done I have invested quite a bit of time and personal capital into this company that would have otherwise had to be paid for by the company, cutting into dividend payments and growth.  My investment has easily been worth the $15837.93 that investors contributed.

$3411.58+$225+$800+$500+$8505=$13441.58
$13441.58-$15837.93=-$2396.35

This is my first time hearing this. Do you have any proof of you contracting these people?

You should have put in a clause covering remuneration. We are going to need much more documentation (see below) if you want us to give you any remuneration.

We are going to need documentation of
Hardware bought, used, donated
Your clocked labor hours
Contracted help

All I ask is that you keep trusting me and look through the few disgruntled INVESTORS who loudly throw accusations around.

*cough* shakaru *cough*

Fixed. Also, I stopped trusting you awhile ago. I'm just not as loud as other investors.

[Matthew N. Wright]

All I ask is that you keep trusting me and look through the few disgruntled INVESTORS who loudly throw accusations around.

*cough* shakaru *cough*

Fixed.

Isn't shakaru an investor? He acts like he is the most invested.

[boonies4u]

All I ask is that you keep trusting me and look through the few disgruntled INVESTORS who loudly throw accusations around.

*cough* shakaru *cough*

Fixed.

Isn't shakaru an investor? He acts like he is the most invested.

I was just putting it into perspective that they aren't just disgruntled "people", they are disgruntled investors! There are only so many people even taking a part of this discussion.

Also, edited my post.

[Ben Walsh (beamer)]

MATTHEW - Before you continue criticising others, I suggest you reread the 43 pages of this thread. The numerous actions and inactions of Tawsix are fully documented. Investors, particularly those who put in significant sums are clearly justified in their anger and mistrust.

[Tawsix]

I'd like to point out that there is no guarantee that anyone in this thread is or ever was an investor and that they could be just causing a ruckus so they can get a bunch of computers for basically nothing.

This is my first time hearing this. Do you have any proof of you contracting these people?

"Enlisted the help of" would probably be a better term to use than contracted, in retrospect.  However, somewhere earlier in the thread I was asked if I had access to people who knew how to do the electrical work that was required, as well as the networking etc., that could help me and I said that I did.

You should have put in a clause covering remuneration.

This isn't some sort of underhanded deal to make money off of SIN, this was what I thought was a better option to help the company without sending a bill to the company and cutting into profits and growth, in addition to reinvesting my dividends.  However, if this is not an acceptable way of remuneration (trading shares of the company for my resources) I would be more than happy to write up a bill for the company, as would those who helped.  Everyone who invested was profiting off of the labor and resources provided at no charge to this company.  Every dividend that got paid out was due to this.  It is not without precedent to pay people for providing services for the company.

We are going to need much more documentation (see below) if you want us to give you any remuneration.[/color]

I will provide such documentation in a motion later for shareholders to peruse.

[boonies4u]

I'd like to point out that there is no guarantee that anyone in this thread is or ever was an investor and that they could be just causing a ruckus so they can get a bunch of computers for basically nothing.

I've already told you a way to start a private discussion with shareholders. If you want to have a discussion with shareholders, please start a private discussion. There are ways for us to prove the existence of our shares, but if you don't need us to prove that we have shares, you're just going to have to deal with discussions with the public.

This is my first time hearing this. Do you have any proof of you contracting these people?

"Enlisted the help of" would probably be a better term to use than contracted, in retrospect.  However, somewhere earlier in the thread I was asked if I had access to people who knew how to do the electrical work that was required, as well as the networking etc., that could help me and I said that I did.

You should have put in a clause covering remuneration.

This isn't some sort of underhanded deal to make money off of SIN, this was what I thought was a better option to help the company without sending a bill to the company and cutting into profits and growth, in addition to reinvesting my dividends.  However, if this is not an acceptable way of remuneration (trading shares of the company for my resources) I would be more than happy to write up a bill for the company, as would those who helped.  Everyone who invested was profiting off of the labor and resources provided at no charge to this company.  Every dividend that got paid out was due to this.  It is not without precedent to pay people for providing services for the company.

I never said it was an underhanded deal, I'm just saying you did not write up the contract well.

We are going to need much more documentation (see below) if you want us to give you any remuneration.[/color]

I will provide such documentation in a motion later for shareholders to peruse.

We should have received this documentation before having a motion whether or not to liquidate. Currently the only evidence that this wasn't/isn't a ponzi scheme or scam were the stats coming from the pool.

If you can supply the documentation and evidence (proof if you have it)

• of every piece of hardware bought and/or used. (receipts, pictures, etc.)
• of every hour you put into maintaining and setting up the rigs. (I want to see the original document or log you used to record your hours)

I would not have a problem giving you the remuneration to cover owning half of SIN. (if the math is close enough)