SchizophrenicX
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Activity: 112
Merit: 100
"I'm not psychic; I'm just damn good"
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May 31, 2011, 03:24:12 AM |
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I don't really know how to use the Glbse thing I'd like to purchase the shares. Think can run me thru briefly on using it? And how are you going to pay out to ur shareholders?
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Tawsix (OP)
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Activity: 210
Merit: 100
I have always been afraid of banks.
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May 31, 2011, 04:09:42 AM |
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I don't really know how to use the Glbse thing I'd like to purchase the shares. Think can run me thru briefly on using it? And how are you going to pay out to ur shareholders?
Currently GLBSE is using a very rudimentary command line program to operate, and it's very difficult to explain. My advice to you is to try your best to follow the tutorial offered on the website, and contact Nefario if you have any problems. In any case, GLBSE is down right now (hopefully to implement a web interface to make it user-friendly!) so even if you got it to work, you wouldn't be able to buy anything. GLBSE's program has a "pay" command that pays out dividends to shareholders, which is what we'll be using. |
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Nefario
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May 31, 2011, 08:46:49 AM |
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Dividend payment is now functional, you can now use it to pay dividends to your shareholders.
bmc.py pay ASSET AMOUNT
Asset for you should be SIN, and the amount is the total amount, it will be taken from your account split across all shares (that you don't own) and paid to the shareholders.
Any problems just pm me.
With regards the web interface it should be available to use by June 6th.
Nefario.
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PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com |
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SgtSpike
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Activity: 1400
Merit: 1005
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May 31, 2011, 04:32:09 PM |
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This is probably in the thread somewhere and I just forgot about it, but once all of your own shares are "paid off", what will the payout be to investors? Is it just a 50/50 distribution of profits between yourself and the other shareholders?
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sanchaz
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Activity: 90
Merit: 10
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May 31, 2011, 05:10:04 PM |
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This is probably in the thread somewhere and I just forgot about it, but once all of your own shares are "paid off", what will the payout be to investors? Is it just a 50/50 distribution of profits between yourself and the other shareholders?
Yes he will receive based on the amount of shares he owns just like anyone else. |
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sanchaz
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Activity: 90
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June 01, 2011, 10:56:00 PM |
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sell:3535@75000000:SIN:1306956626
ok....
i didnt think anyone owned that many shares.
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Kain
Newbie
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Activity: 57
Merit: 0
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June 01, 2011, 11:27:54 PM |
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If only I was making more than .05 bitcoins a day, I'd invest!
Good luck to you.
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eturnerx
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June 02, 2011, 02:07:15 AM |
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If only I was making more than .05 bitcoins a day, I'd invest!
Good luck to you.
Kain, you could evaluate whether CentiMine fits your circumstances better. Bascially 1 bitcent shares into a mining contract. The GLBSE symbol is CM400, you can find the thread to evaluate the CentiMine proposal here: https://forum.bitcoin.org/index.php?topic=8642.0. |
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Nefario
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June 02, 2011, 01:56:26 PM |
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sell:3535@75000000:SIN:1306956626
ok....
i didnt think anyone owned that many shares.
It doesn't really mean that someone really has. The way the system works is buy and sell orders can be placed even if you don't have the bitcoin or shares. However once a matching order has been found, it will try to process your order, and if by that time you don't have the needed btc or shares then it just removes your order from the market. |
PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com |
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eturnerx
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Activity: 84
Merit: 10
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June 02, 2011, 02:03:00 PM |
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sell:3535@75000000:SIN:1306956626
ok....
i didnt think anyone owned that many shares.
It doesn't really mean that someone really has. The way the system works is buy and sell orders can be placed even if you don't have the bitcoin or shares. However once a matching order has been found, it will try to process your order, and if by that time you don't have the needed btc or shares then it just removes your order from the market. So somebody could place fake orders to simulate demand/supply? Hmmm not cool. Leaves the market open to manipulation. |
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sanchaz
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Activity: 90
Merit: 10
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June 02, 2011, 07:01:10 PM |
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sell:3535@75000000:SIN:1306956626
ok....
i didnt think anyone owned that many shares.
It doesn't really mean that someone really has. The way the system works is buy and sell orders can be placed even if you don't have the bitcoin or shares. However once a matching order has been found, it will try to process your order, and if by that time you don't have the needed btc or shares then it just removes your order from the market. So somebody could place fake orders to simulate demand/supply? Hmmm not cool. Leaves the market open to manipulation. indeed like this sell order here leads people into thinking that the company is going to crash or something, and thus trying to sell theirs as well, making prices go down a lot. i think that at least sell orders should be checked before being put on the market. |
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Nefario
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June 02, 2011, 07:21:52 PM |
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It is something I could change but it would require the person making the order having the amounts in their account at all times until their order is fullfilled.
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PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com |
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sanchaz
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June 02, 2011, 09:11:33 PM |
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It is something I could change but it would require the person making the order having the amounts in their account at all times until their order is fullfilled.
i don't see why that shouldn't happen, since if he doesn't have that amount the order will just be canceled any way. |
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Tawsix (OP)
Full Member
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Activity: 210
Merit: 100
I have always been afraid of banks.
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June 03, 2011, 04:18:01 AM |
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i don't see why that shouldn't happen, since if he doesn't have that amount the order will just be canceled any way.
I relisted the shares back to their original price. The new price that was voted on by the shareholders was being exploited and I believe that made investment dried up. I will also be taking direct orders for shares in the event of continued undercutting in the event someone wishes to invest directly into the company instead of saving a few milibits: if they send me a PM with their GLBSE user ID and the amount of shares they want, I'll send them an address and how much to send, then manually transfer the shares to them once I receive the BTC. Hopefully that in conjunction with getting the rigs all operational will stimulate further investment. |
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rainman
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June 03, 2011, 12:17:32 PM |
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I think its a good idea until all shares are sold.
And how is it going by the way? How many miners up, how many more planned, hashrate, and what is the dividend plan?
I think having more discussion and details would get more people interested, which would raise more capital for investing, which would generate more interest, etc. etc.
I know I check the forums a few times a day looking for updates.
Also, we should vote maybe on whether we want dividends or to re-invest in more miners? Or is are the miners just to be purchased from the proceeds of selling shares?
Anyway great job so far!
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Amechan
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Activity: 105
Merit: 10
Spreading Bitcoin love
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June 03, 2011, 01:56:35 PM |
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So... any of us who bought shares after the price raise got screwed.
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Nefario
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June 03, 2011, 02:14:26 PM |
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So... any of us who bought shares after the price raise got screwed.
Well that's the market, it goes up and down, and no one put a gun to your head to buy(did they?). |
PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com |
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Tawsix (OP)
Full Member
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Activity: 210
Merit: 100
I have always been afraid of banks.
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June 03, 2011, 02:25:56 PM |
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I think its a good idea until all shares are sold.
And how is it going by the way? How many miners up, how many more planned, hashrate, and what is the dividend plan?
I think having more discussion and details would get more people interested, which would raise more capital for investing, which would generate more interest, etc. etc.
I know I check the forums a few times a day looking for updates.
Also, we should vote maybe on whether we want dividends or to re-invest in more miners? Or is are the miners just to be purchased from the proceeds of selling shares?
Anyway great job so far!
Right now, two miners are currently running consistently. Replacement motherboards are currently being shipped so that the original five rigs can be up and running (the parts are scheduled to arrive on Monday.) Along with that order are the parts for two more rigs, which will bring the total to seven. Current hash rate can be found here. Planned hashrate once all seven rigs are up should be over seven GHash/sec. The dividend plan is currently being fleshed out, possibly a weekly dividend with a monthly bonus to cover the difference once expenses and growth are accounted for, or a straight monthly dividend. Production of the rigs will first be used to pay for electricity, then for new miners. The remaining profit will be paid in dividends. The amount of growth will be discussed once all the current miners purchased from the initial selling of the IPO are up and running. So... any of us who bought shares after the price raise got screwed.
The short answer is yes, 25% of what you paid for your share went to someone who bought in for the sole purpose of undercutting the IPO. I apologize for this, I did not foresee that happening. |
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Amechan
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Merit: 10
Spreading Bitcoin love
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June 03, 2011, 02:42:51 PM |
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So... any of us who bought shares after the price raise got screwed.
Well that's the market, it goes up and down, and no one put a gun to your head to buy(did they?). Yes they did. They had a 9mm and an extremely keen interest in new types of investing. |
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sanchaz
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June 03, 2011, 02:46:59 PM |
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So... any of us who bought shares after the price raise got screwed.
Well that's the market, it goes up and down, and no one put a gun to your head to buy(did they?). Yes they did. They had a 9mm and an extremely keen interest in new types of investing. thats not the point here. point is there was a vote to raise to 1BTC, then simply they were put back down to 0.75BTC, after we bought them with no vote no nothing, which means those of us who bought them at 1BTC, just lost 0.25BTC per share just like that no vote no nothing. So yeah we did get kind of screwed... |
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