[CLOSED] 007 Bonds - 1Mh/s

[lomax]

Update: This operation is closed and all obligations settled. Please feel free to PM if you would like to discuss anything further.

Announcing - 007 Bonds - 1MH PPS - Powered by Butterfly Labs

https://glbse.com/asset/view/007

You know the drill.. These bonds entitle the bearer to the PPS payout equal to one megahash per second.

- 800 Shares shall be issued, hashing is provided by one BFL Single.
- [Updated] - 500 Pre-IPO shares have been sold, the remaining 300 will be offered at 0.29.
- Dividends will be paid weekly on or about* the IPO anniversary.
- Any day difficulty changes on will be calculated at the lowest difficulty.



FAQ

Q - Who are you?
A - Long time listener first time caller, mining and using bitcoin for about a year now.

Q - Why buy these bonds?
A - Why not? I personally hold many of the mining bonds available, diversity is your friend.

Q - What if the single breaks?
A - I have ample GPU hashing power to cover downtime.

Q - Why is there a * in the dividends clause.
A - This is a one man band, I reserve the right to take vacations but will always communicate any expected delay or otherwise.

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[lomax]

people feel the need to reserve this bit.

[PsychoticBoy]

The name is Bond, James Bond.

[lomax]

Updated share offering after another pre-IPO purchase

[lomax]

And we are Live! Get in while they are cheap.

[lomax]

I think you've answered your own question in part, its possibly better to buy bonds that are reasonably stable in price across all the offerings than wait however long BFL is taking to ship, or you may not have the stomach for investing in hardware.

[brendio]

Maybe I just missed something in my calculations.

Does a BFL run on air and never break down?

I have my own opinion on the value of mining bonds, but running and replacement costs need to be taken into account in any comparison, such that each investment has its own pros and cons.

[lomax]

Made a test dividend, GLBSE needs a manual..

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-05-22 09:45	0.9999978	510	0.00196078

Enjoy!

[lomax]

The full 800MH/s will be paid out to any bonds that have sold.

With a retarget estimate of 1595297.29771767 the payout would be ~3.37 (currently 510 bonds sold).

[lomax]

Dividend paid for this week.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-05-27 00:45	3.4199949	545	0.00627522

Will continue to pay full 800MH/s as they sell.

[lomax]

Thanks to Butterfly Labs release of improved firmware we have seen a good gain in hash rate. As a bonus 'thank you' to investors this will be distributed between shares until further notice, bringing the payout up to 105% PPS.

Furthermore I'm giving notice that this weeks dividend will be paid early, in the next 24 hours, as I will be out of the country for a few days.

[lomax]

The dividend for week ending Sunday, June 3rd, paid early as advised.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-05-31 02:20	3.71199568	656	0.00565853

[lomax]

Dividend for week ending Sunday June 10th paid.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-06-10 00:07	3.73999745	697	0.00536585

[lomax]

Dividend for week ending 17th June paid.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-06-17 01:35	3.73999745	697	0.00536585

[John (John K.)]

Are you planning to verify with GLBSE?

[lomax]

Are you planning to verify with GLBSE?

No, don't really see a need at this point since most of the IPO sold and its doubtful the rest will in this market, without lowering the price (which I'm also not considering, currently). So I would be reducing my personal security in order to give investors more confidence, in the 103 outstanding shares, worth all of 29btc.  

[lomax]

Dividend for week ending 24th June paid.

Code:

2012-06-24 07:09	3.55999416	723	0.00492392

[lomax]

Gentlemen,

Dividends paid for week ending July 1st, accidentally add the bonus 5% twice (one too many martitnis) so enjoy the extra.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-07-01 01:57	3.59999775	723	0.00497925

The big news this week is the new BFL product, what this means for mining bonds is not entirely clear but Q is in the lab working on a plan. An SC single upgrade has been purchased, with our order placed within the first 100 according to https://bitcointalk.org/index.php?topic=89521.0.

[lomax]

Dividend for week ending July 8th (includes a little bonus for lateness, sorry)

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-07-09 15:55	3.49999962	723	0.00484094

[lomax]

Dividends for 15th July paid.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-07-15 06:59	3.39999426	723	0.00470262

[lomax]

Dividend for 22nd July.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-07-22 05:53	3.31999431	723	0.00459197

[lomax]

This weeks dividend paid.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-07-29 15:41	3.1699935	723	0.0043845

[lomax]

Div paid.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-08-05 17:06	2.90999547	723	0.00402489

[lomax]

Div paid.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-08-12 15:38	2.90999547	723	0.00402489

[lomax]

Div paid.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-08-19 07:07	2.72999739	723	0.00377593

[lomax]

Paid, apparently forgot to update thread last week, sorry about that.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-08-26 18:54	2.69999842	722	0.00373961
2012-09-02 17:01	2.4299993	722	0.00336565

Edit: If anyone cares the share count is down because I wanted to see what happens when the issuer buys. It will sell for 0.29 in the unlikely event that the other 77 do.

[lomax]

Div paid.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-09-09 15:55	2.32999508	722	0.00322714

[lomax]

Div paid.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-09-16 15:47	2.19999898	722	0.00304709

Obsi, not sure I want to part with the hardware or that 10 BTC is a reasonable price for a single.

[Deprived]

Div paid.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-09-16 15:47	2.19999898	722	0.00304709

Obsi, not sure I want to part with the hardware or that 10 BTC is a reasonable price for a single.

Without the hardware all you're selling is a commitment to pay out future dividends.  So you'd need to pay whoever took over - not the other way round.  His offer represents what he's willing to pay for the single LESS what he believes the cost of paying future dividends is.

[lomax]

Div paid.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-09-23 15:45	2.06999566	722	0.00286703

[lomax]

Div paid.

Code:

Payment date | 	Total paid | 	Shares paid | 	Payment per share
2012-09-30 17:48	2.06999566	722	0.00286703

[burnside]

I have a bunch of 007 bonds.

What are your plans for the issue going forward?

Thanks!

[lomax]

Without the convenience of a platform to trade on I'll probably wind it up with a "buyback" type payment. Yet to receive anything from glbse.

[burnside]

Without the convenience of a platform to trade on I'll probably wind it up with a "buyback" type payment. Yet to receive anything from glbse.

If you want to keep it going, I'd be happy to assist with a transition to https://btct.co/

https://bitcointalk.org/index.php?topic=127215.0

As a bond holder, I'm happy with a buyback too.

Cheers.

[lomax]

I don't wish to offend and without understanding your level of involvement, a 5 minute assessment of that service does not exactly inspire confidence. Irrespective of that, with miniscule mining revenue and the re-investment in BFL ASIC fast turning into a loss there isn't much point trying to keep it going.

[burnside]

I don't wish to offend and without understanding your level of involvement, a 5 minute assessment of that service does not exactly inspire confidence. Irrespective of that, with miniscule mining revenue and the re-investment in BFL ASIC fast turning into a loss there isn't much point trying to keep it going.

No worries, you're not going to hurt my feelings.  The BTC side of it just started up a week or so ago.  It's definitely very green and is certainly a work in progress.  The software has been up and running successfully for months though under litecoinglobal.com and has been fairly well received by the community.

As a fellow asset issuer, I understand wanting to close it down though.  I'm happy either way.  Just to have my couple of BTC back is more than I thought I'd have a few weeks ago. 

Cheers.

[strello]

Hi there.

Any news?

Do you have the list of shareholders from nefario? I don't see 007 listed on the GLBSE blog page.

Are you still planning to do a buyback?

Thanks for any info.

[lomax]

To date no BTC, lists or any communication whatsoever forthcoming from Nefario.

[Meni Rosenfeld]

To date no BTC, lists or any communication whatsoever forthcoming from Nefario.

Try contacting him again, he's been around about a week ago, and not only have I received pretty good lists, I finally got some of the coins I had deposited.

[strello]

Any update on the current situation?

Have you heard anything from GLBSE?

[strello]

Still waiting for news.

Have you been in contact with GLBSE?

Do you intend to pay back any of the money you have taken from your investors?

[strello]

Does your silence mean you want a scammer tag?

[GeoRW]

Looks like scammer tag is appropriate here

[strello]

Sent him the following PM.

"lomax

You issued nearly 800 shares in your mining venture, and therefore have a responsibility to pay back these investors.

I will be asking for a scammer tag for you unless you reply to this PM publicly on the forum within 5 days, giving details of how you intend to repay.

Scammer tag will be called for on the 11th January 2013."

[lomax]

Received asset list December 20th, shockingly I have been holidaying and returned to the predictable day-job-shitstorm this week.

I would appreciate some feedback from yourselves as to the following.

1. Should an attempt be made to verify the list? Unsure what other issuers have done but I guess contacting those on the list via email requesting they verify their submitted btc address and number of bonds held is the logical option.

2. What your opinion is regarding a fair buyback price, accrued dividends notwithstanding.

[strello]

Hi lomax!

I'm very happy to hear from you. I hope you had a good time over Christmas and the New Year.

Most asset issuers have done exactly as you suggest, sending a simple email to all known asset holders asking for confirmation of their email address, bitcoin address as given to GLBSE and number of shares held, if they know this.

Personally, I have no idea about how to figure out a fair buyback price. Maybe someone else could make a suggestion.

[GeoRW]

best way would be to relist the asset on some other exchange, pay the dividends that were not paid and then let it trade for a couple of months and buy back the bonds as per contract if you wish. You may also execute the buyback following the last trading data from GLBSE (should be found somewhere on these forums).

[strello]

Good idea. Import to BTCT.co is a simple and efficient way to handle this.

Without the convenience of a platform to trade on I'll probably wind it up with a "buyback" type payment. Yet to receive anything from glbse.

If you want to keep it going, I'd be happy to assist with a transition to https://btct.co/

https://bitcointalk.org/index.php?topic=127215.0

As a bond holder, I'm happy with a buyback too.

Cheers.

[lomax]

best way would be to relist the asset on some other exchange, pay the dividends that were not paid and then let it trade for a couple of months and buy back the bonds as per contract if you wish. You may also execute the buyback following the last trading data from GLBSE (should be found somewhere on these forums).

In all honesty re-listing sounds like a lot of work for miniscule return.

For perspective; I own around half of the 800 bonds, the next largest holding is one quarter and the majority of the rest are single digit amounts (several, like my itchy trigger fingered friend strello, hold one (1) single bond).

My feeling is that 1MH/s bonds are worth somewhere south of 0.05btc, based on the markets decline towards the end of GLBSE and diminishing returns from mining including the looming ASICpocalypse.

Seeking opinions and evidence of similar bonds trading on the new platforms.

[burnside]

best way would be to relist the asset on some other exchange, pay the dividends that were not paid and then let it trade for a couple of months and buy back the bonds as per contract if you wish. You may also execute the buyback following the last trading data from GLBSE (should be found somewhere on these forums).

In all honesty re-listing sounds like a lot of work for miniscule return.

For perspective; I own around half of the 800 bonds, the next largest holding is one quarter and the majority of the rest are single digit amounts (several, like my itchy trigger fingered friend strello, hold one (1) single bond).

My feeling is that 1MH/s bonds are worth somewhere south of 0.05btc, based on the markets decline towards the end of GLBSE and diminishing returns from mining including the looming ASICpocalypse.

Seeking opinions and evidence of similar bonds trading on the new platforms.

Depends on how many bondholders you had.  If you don't list somewhere, you have to process the last two months of dividends & buyback manually.  Not a big deal if there aren't many, but can be a PITA if you have a lot.

[Meni Rosenfeld]

best way would be to relist the asset on some other exchange, pay the dividends that were not paid and then let it trade for a couple of months and buy back the bonds as per contract if you wish. You may also execute the buyback following the last trading data from GLBSE (should be found somewhere on these forums).

In all honesty re-listing sounds like a lot of work for miniscule return.

For perspective; I own around half of the 800 bonds, the next largest holding is one quarter and the majority of the rest are single digit amounts (several, like my itchy trigger fingered friend strello, hold one (1) single bond).

My feeling is that 1MH/s bonds are worth somewhere south of 0.05btc, based on the markets decline towards the end of GLBSE and diminishing returns from mining including the looming ASICpocalypse.

Seeking opinions and evidence of similar bonds trading on the new platforms.

Depends on how many bondholders you had.  If you don't list somewhere, you have to process the last two months of dividends & buyback manually.  Not a big deal if there aren't many, but can be a PITA if you have a lot.

You don't need to do this manually for every bondholder. I have commented here with some notes about how to automate this.

[GeoRW]

best way would be to relist the asset on some other exchange, pay the dividends that were not paid and then let it trade for a couple of months and buy back the bonds as per contract if you wish. You may also execute the buyback following the last trading data from GLBSE (should be found somewhere on these forums).

In all honesty re-listing sounds like a lot of work for miniscule return.

For perspective; I own around half of the 800 bonds, the next largest holding is one quarter and the majority of the rest are single digit amounts (several, like my itchy trigger fingered friend strello, hold one (1) single bond).

My feeling is that 1MH/s bonds are worth somewhere south of 0.05btc, based on the markets decline towards the end of GLBSE and diminishing returns from mining including the looming ASICpocalypse.

Seeking opinions and evidence of similar bonds trading on the new platforms.

If you don't want to re-list (it's quite easy, you just send the file Nefario sent you to an exchange and they have an import script for that), then follow last GLBSE trading data and execute buyback (without paying backward dividends). If you want to make a buyback at the current prices you'll need to pay the missing dividends first.

[lomax]

Around half have responded to the confirmation email so far, the faster everyone verifies the sooner you get the BTC. For those that don't know how many you held try to give a ballpark.

[GeoRW]

So, what's next steps. Will you pay at least outstanding dividends for now? You have all the info you need.

[burnside]

Any progress here?

[strello]

lomax, it's now over a month since your last post.

Any update?

[lomax]

Aloha,

At this point while the list is not fully verified it seems unlikely anyone else is coming forward. I'm going to send their coins anyway and if you dig this thread up after finding you never received btc because you didn't respond or give glbse an address you actually control then I'm sorry, you had plenty of time.

Looking at daily pps earnings since Oct 3rd I get to about 0.036 per 1mh/s. Unless someone shows a problem with this I'll make the a payment of 0.04 per share later this week. To be clear this is to cover the accrued mining income.

Given the apparent agreement of 0.05 per share I will follow up with another payment to cover that next week.

Bond out.




 

[GeoRW]

Aloha,

Acknowledging its been a while, I could spin some elaborate drama filled story but really was waiting for a more favorable price to buy the coin to pay you guys back with, which turned out really well.

At this point while the list is not fully verified it seems unlikely anyone else is coming forward. I'm going to send their coins anyway and if you dig this thread up after finding you never received btc because you didn't respond or give glbse an address you actually control (wtf people?) then I'm sorry, you had plenty of time.

Looking at daily pps earnings in 14 day blocks for each difficulty since Oct 3rd I get to about 0.036 per 1mh/s. Unless someone shows a problem with this math I'll make the a payment of 0.04 per share (the simplified calculation already favors you in a number of ways, I'm rounding it up as a gesture of good will) later this week. To be clear this is to cover the accrued mining income (at least what it would be if the BFL FPGA still worked properly).

Given the apparent agreement of 0.05 per share 'buyback' I will follow up with another payment to cover that next week.


Cue Rejoicing/Lamentations

Bond out.




 

So the total payout per share will be 0.09 BTC? If so, that's OK with me.

[burnside]

Aloha,

Acknowledging its been a while, I could spin some elaborate drama filled story but really was waiting for a more favorable price to buy the coin to pay you guys back with, which turned out really well.

At this point while the list is not fully verified it seems unlikely anyone else is coming forward. I'm going to send their coins anyway and if you dig this thread up after finding you never received btc because you didn't respond or give glbse an address you actually control (wtf people?) then I'm sorry, you had plenty of time.

Looking at daily pps earnings in 14 day blocks for each difficulty since Oct 3rd I get to about 0.036 per 1mh/s. Unless someone shows a problem with this math I'll make the a payment of 0.04 per share (the simplified calculation already favors you in a number of ways, I'm rounding it up as a gesture of good will) later this week. To be clear this is to cover the accrued mining income (at least what it would be if the BFL FPGA still worked properly).

Given the apparent agreement of 0.05 per share 'buyback' I will follow up with another payment to cover that next week.


Cue Rejoicing/Lamentations

Bond out.

So the total payout per share will be 0.09 BTC? If so, that's OK with me.

That's great news.  Thanks!

[lomax]

Sent payment of accrued earnings, if you do not receive them please let me know within a week.

[strello]

Payment received- thank you very much.

[lomax]

Final payment has been made, thank you for your participation and again, apologies for the delay.

[burnside]

Final payment has been made, thank you for your participation and again, apologies for the delay.

Got it, thanks!

[strello]

Thank you again.

[dinox]

Just want to state a fact.

This guy lomax has done something both bitbond and gigamining has failed at doing. I invested 49.9% in bitbond, 49.9% in gigamining and 0.2% in 007. Even after 6 months I have got a lot more from 007 than from any of those scammers.

I just want to thank you for the very good work you have done, for your honesty to pay us back and I really hope you find a different way to make business in bitcoin in the future. Bitcoin needs non-scammers like you!

Regards,
dinox



PS. Thanks for my 0.2% btw. I highly regret I did not invest 100% with you

[strello]

+1