[GLBSE] Bitcorp Mining Company - BTCMC 60+ GH/s, clear ASIC upgrade path.

[DiabloD3]

Hey yochdog, happy dividend day!

[1713560323]

1713560323

[1713560323]

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[yochdog]

Dividends have been paid!

[Indemnified]

Dividends have been paid!

Did the month not go well? I thought you were targeting to pay .02 per share rather than .015?

[yochdog]

Dividends have been paid!

Did the month not go well? I thought you were targeting to pay .02 per share rather than .015?

The month went great......but we decided to stay at .015 this month for 2 reasons:

1)  We were offered some great hardware, and jumped at the chance to buy it....thus reducing available funds
2)  The contract on GLBSE still states the dividend is .015, and we want to avoid further confusion on ths issue.  Hence, we will have Nefario change it prior to dividends going out next month. 

[yochdog]

July production looks like it came in at just over 804 BTC

We did not hit our 850 goal due to the massive increase in difficulty, and the fact that I went on vacation for a week and had several miners go down for a day or two. 

Final numbers will be posted soon. 

[speeder]

I wonder why share value is dropping

Also, I came late to GLBSE, I can get earlier dividends? (I am one of the Angels)

[yochdog]

I wonder why share value is dropping

Also, I came late to GLBSE, I can get earlier dividends? (I am one of the Angels)

Not a lot of volume unfortunately.....it seems like all of the liquidity has been soaked up by Giga and a few Pirate bonds. 

I have your shares held in trust at the moment......would you like them tranferred to you on GLBSE?  If so, just give me your username. 

[DiabloD3]

yochdog, do me a favor: when you do the monthly dividends report, also list the equivalent mhash at that day's difficulty since you do fixed dividend output. For such a big holding of DMC's, I want to keep the mhash equivalent accurate.

Also, when is the full 0.05 dividend starting to be paid?

[speeder]

I wonder why share value is dropping

Also, I came late to GLBSE, I can get earlier dividends? (I am one of the Angels)

Not a lot of volume unfortunately.....it seems like all of the liquidity has been soaked up by Giga and a few Pirate bonds. 

I have your shares held in trust at the moment......would you like them tranferred to you on GLBSE?  If so, just give me your username. 

You already transferred the shares (at 3 of July I think) But not the dividends.

I am Speeder in GLBSE too

[yochdog]

I wonder why share value is dropping

Also, I came late to GLBSE, I can get earlier dividends? (I am one of the Angels)

Not a lot of volume unfortunately.....it seems like all of the liquidity has been soaked up by Giga and a few Pirate bonds. 

I have your shares held in trust at the moment......would you like them tranferred to you on GLBSE?  If so, just give me your username. 

You already transferred the shares (at 3 of July I think) But not the dividends.

I am Speeder in GLBSE too

My apologies!

Would you like additional shares in lieu of the missed dividend, or simply the BTC? 

[BitSense Informatics]

yochdog,

Could you also provide a balance sheet statement along with your income statement each month?  My feeling is that since you don't pay out most of the income as dividends as other mining stocks do that  the current stock price isn't taking into account your cash on hand and potential for using it to grow your operations.

[speeder]

I wonder why share value is dropping

Also, I came late to GLBSE, I can get earlier dividends? (I am one of the Angels)

Not a lot of volume unfortunately.....it seems like all of the liquidity has been soaked up by Giga and a few Pirate bonds. 

I have your shares held in trust at the moment......would you like them tranferred to you on GLBSE?  If so, just give me your username. 

You already transferred the shares (at 3 of July I think) But not the dividends.

I am Speeder in GLBSE too

My apologies!

Would you like additional shares in lieu of the missed dividend, or simply the BTC? 

MORE SHAAAARES, SHAAAARES, SHAAAAAAAARES!!!

[yochdog]

July numbers have been finalized:

Income statement for July, 2012

Production (in BTC)   +804.16
Sale of equip.            -
Expenses                  -389.00
Dividends paid          -150.00
Net income                265.16


Also, a request for a balance shee was made, thus we comply!

Balance Sheet: Aug 1, 2012
Short-term Assets
Cash:  BTC 1050.65
Accounts receivable:  0
Total Short-term Assets:  BTC 1050.65

Long-term Assets
Capital Assets (mining equipment):  $32,478
Total Long-term Assets:  $32,478
Total Short-term assets:  BTC 1050.65
Total Assets:  $32,478 + BTC 1050.65



I am not sure what is wrong with the market, but at the current GLBSE price, an investor can buy a share of BTCMC for approximately .55 BTC per share when the company has a net asset value of approximately .40 BTC per share.  So completely ingoring future earnings (which are still increasing), liquidation value alone is nearly enough to cover any investment.   

How people are choosing to pay more for perpetual bonds over equity interest is beyond me.  Perhaps I am not spreading the message well enough? 

[speeder]

Just after you posted, someone put a 0.72 big buy order...

I think they liked the post.


Can you make a post about expansion plans?

[DiabloD3]

I am not sure what is wrong with the market, but at the current GLBSE price, an investor can buy a share of BTCMC for approximately .55 BTC per share when the company has a net asset value of approximately .40 BTC per share.  So completely ingoring future earnings (which are still increasing), liquidation value alone is nearly enough to cover any investment.   

How people are choosing to pay more for perpetual bonds over equity interest is beyond me.  Perhaps I am not spreading the message well enough? 

You need to post equivalent mhash based on today's difficulty. People only think in mhash.

[yochdog]

I am not sure what is wrong with the market, but at the current GLBSE price, an investor can buy a share of BTCMC for approximately .55 BTC per share when the company has a net asset value of approximately .40 BTC per share.  So completely ingoring future earnings (which are still increasing), liquidation value alone is nearly enough to cover any investment.   

How people are choosing to pay more for perpetual bonds over equity interest is beyond me.  Perhaps I am not spreading the message well enough? 

You need to post equivalent mhash based on today's difficulty. People only think in mhash.

Good point.

We are at nearly 60 GH/s....sometimes just over, but not sustaining yet while we work out a few trouble rigs. 

[DiabloD3]

I am not sure what is wrong with the market, but at the current GLBSE price, an investor can buy a share of BTCMC for approximately .55 BTC per share when the company has a net asset value of approximately .40 BTC per share.  So completely ingoring future earnings (which are still increasing), liquidation value alone is nearly enough to cover any investment.   

How people are choosing to pay more for perpetual bonds over equity interest is beyond me.  Perhaps I am not spreading the message well enough? 

You need to post equivalent mhash based on today's difficulty. People only think in mhash.

Good point.

We are at nearly 60 GH/s....sometimes just over, but not sustaining yet while we work out a few trouble rigs. 

Oh man.

Lets say its 60 ghash even, and on August 1st you paid out on 3764 shares.

60000 / 3764 = 15.94 mhash. Did I fail at math somewhere along the way?

[yochdog]

I am not sure what is wrong with the market, but at the current GLBSE price, an investor can buy a share of BTCMC for approximately .55 BTC per share when the company has a net asset value of approximately .40 BTC per share.  So completely ingoring future earnings (which are still increasing), liquidation value alone is nearly enough to cover any investment.   

How people are choosing to pay more for perpetual bonds over equity interest is beyond me.  Perhaps I am not spreading the message well enough? 

You need to post equivalent mhash based on today's difficulty. People only think in mhash.

Good point.

We are at nearly 60 GH/s....sometimes just over, but not sustaining yet while we work out a few trouble rigs. 

Oh man.

Lets say its 60 ghash even, and on August 1st you paid out on 3764 shares.

60000 / 3764 = 15.94 mhash. Did I fail at math somewhere along the way?

Well every share gets an equal amount of the hashing power.....even those still held by the founders. 

So you have to divide the 60 GH/s by 10,000. 

[DiabloD3]

I am not sure what is wrong with the market, but at the current GLBSE price, an investor can buy a share of BTCMC for approximately .55 BTC per share when the company has a net asset value of approximately .40 BTC per share.  So completely ingoring future earnings (which are still increasing), liquidation value alone is nearly enough to cover any investment.   

How people are choosing to pay more for perpetual bonds over equity interest is beyond me.  Perhaps I am not spreading the message well enough? 

You need to post equivalent mhash based on today's difficulty. People only think in mhash.

Good point.

We are at nearly 60 GH/s....sometimes just over, but not sustaining yet while we work out a few trouble rigs. 

Oh man.

Lets say its 60 ghash even, and on August 1st you paid out on 3764 shares.

60000 / 3764 = 15.94 mhash. Did I fail at math somewhere along the way?

Well every share gets an equal amount of the hashing power.....even those still held by the founders. 

So you have to divide the 60 GH/s by 10,000. 

Okay, 6. Still, thats better than the 5 I've been writing them down as.

[P4man]

I am not sure what is wrong with the market, but at the current GLBSE price, an investor can buy a share of BTCMC for approximately .55 BTC per share when the company has a net asset value of approximately .40 BTC per share.  So completely ingoring future earnings (which are still increasing), liquidation value alone is nearly enough to cover any investment.  

How people are choosing to pay more for perpetual bonds over equity interest is beyond me.  Perhaps I am not spreading the message well enough?  

There are huge differences between bonds and shares. Bonds will payout coupons that are only function of difficulty regardless; your shares could stop paying dividends all together  if for whatever reason your company no longer makes profits, like soaring electricity cost, collapsing BTC value,  equipment failure/theft/fire  etc.

Now Im not saying I would rather hold bonds,  particularly not at current prices, If I had to chose I would also be much more likely to invest in your company, because the difficulty liability that bonds suffer is gigantic,  but you are comparing apples to oranges. (and diablo is writing them down as strawberries in his books).