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usagi
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June 16, 2012, 06:18:44 PM
 #1

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June 16, 2012, 06:21:22 PM
 #2

I wanted to show you another option.
https://bitcointalk.org/index.php?topic=88008.0

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June 16, 2012, 06:45:56 PM
 #3

If you wanted to earn dividends mining with Bitforce Singles on GPUMAX.com until they can be upgraded to ASIC Miners:
https://bitcointalk.org/index.php?topic=86854.0

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June 16, 2012, 06:48:37 PM
 #4

If you wanted to earn dividends mining with Bitforce Singles on GPUMAX.com until they can be upgraded to ASIC Miners:
https://bitcointalk.org/index.php?topic=86854.0

Why should investors in your shares care whether their 1MH/s is going to be produced by ASICs or singles, other than the small difference in power usage between the two?
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June 16, 2012, 06:55:29 PM
 #5

If you wanted to earn dividends mining with Bitforce Singles on GPUMAX.com until they can be upgraded to ASIC Miners:
https://bitcointalk.org/index.php?topic=86854.0

Why should investors in your shares care whether their 1MH/s is going to be produced by ASICs or singles, other than the small difference in power usage between the two?

They should care because (see below quote).  While 1MH/s bonds will be paying out only the proceeds of their 1MH/s, NASTY shares will be upgrading to ASIC Miners with the BFL trade-in program and giving shareholders the benefit, potentially raising the per share hash rate to 20MH/s!

ANNOUNCEMENT:
With the Butterfly Labs ASIC miners coming soon, NastyMining is pleased to announce that we will be participating in the FPGA->ASIC trade-in program once it is made available.  This will bring the hashing power per share up to around 20MH/s.  Once the trade-in program is completed, the contract for this offering will be updated to reflect the new terms.

BITSLER                 ▄███
               ▄████▀
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           ▄████▀  ▄██▄
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MrTeal
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June 16, 2012, 06:58:39 PM
 #6

If you wanted to earn dividends mining with Bitforce Singles on GPUMAX.com until they can be upgraded to ASIC Miners:
https://bitcointalk.org/index.php?topic=86854.0

Why should investors in your shares care whether their 1MH/s is going to be produced by ASICs or singles, other than the small difference in power usage between the two?

They should care because (see below quote).  While 1MH/s bonds will be paying out only the proceeds of their 1MH/s, NASTY shares will be upgrading to ASIC Miners with the BFL trade-in program and giving shareholders the benefit, potentially raising the per share hash rate to 20MH/s!

ANNOUNCEMENT:
With the Butterfly Labs ASIC miners coming soon, NastyMining is pleased to announce that we will be participating in the FPGA->ASIC trade-in program once it is made available.  This will bring the hashing power per share up to around 20MH/s.  Once the trade-in program is completed, the contract for this offering will be updated to reflect the new terms.

Interesting. How will you handle the transition and prevent allegations of insider trading? I assume that you have shares in NastyMining, so there's no real way for you to avoid a conflict of interest.
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June 16, 2012, 06:59:11 PM
 #7

If you wanted to earn dividends mining with Bitforce Singles on GPUMAX.com until they can be upgraded to ASIC Miners:
https://bitcointalk.org/index.php?topic=86854.0

Why should investors in your shares care whether their 1MH/s is going to be produced by ASICs or singles, other than the small difference in power usage between the two?

They should care because (see below quote).  While 1MH/s bonds will be paying out only the proceeds of their 1MH/s, NASTY shares will be upgrading to ASIC Miners with the BFL trade-in program and giving shareholders the benefit, potentially raising the per share hash rate to 20MH/s!

ANNOUNCEMENT:
With the Butterfly Labs ASIC miners coming soon, NastyMining is pleased to announce that we will be participating in the FPGA->ASIC trade-in program once it is made available.  This will bring the hashing power per share up to around 20MH/s.  Once the trade-in program is completed, the contract for this offering will be updated to reflect the new terms.

Not only that, but the price per mhash/s share will be considerably lower with ASIC rigs than with FPGA singles.

1GLADMZ5tL4HkS6BAWPfJLeZJCDHAd9Fr3 - LQ6Zx8v7fHVBiDX5Lmhbp6oEDB7dUFjANu
GPG 0xF219D5BB3C467E12 - Litecoin Forum
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June 16, 2012, 07:30:05 PM
 #8

If you wanted to earn dividends mining with Bitforce Singles on GPUMAX.com until they can be upgraded to ASIC Miners:
https://bitcointalk.org/index.php?topic=86854.0

Why should investors in your shares care whether their 1MH/s is going to be produced by ASICs or singles, other than the small difference in power usage between the two?

They should care because (see below quote).  While 1MH/s bonds will be paying out only the proceeds of their 1MH/s, NASTY shares will be upgrading to ASIC Miners with the BFL trade-in program and giving shareholders the benefit, potentially raising the per share hash rate to 20MH/s!

ANNOUNCEMENT:
With the Butterfly Labs ASIC miners coming soon, NastyMining is pleased to announce that we will be participating in the FPGA->ASIC trade-in program once it is made available.  This will bring the hashing power per share up to around 20MH/s.  Once the trade-in program is completed, the contract for this offering will be updated to reflect the new terms.

Interesting. How will you handle the transition and prevent allegations of insider trading? I assume that you have shares in NastyMining, so there's no real way for you to avoid a conflict of interest.

When more information regarding ASIC development and the BFL trade-in program is made public, shareholders will find out the same time as I do.  I don't think insider trading is a big concern.  I won't know exactly how the transition will be handled until the details are announced.

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MrTeal
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June 16, 2012, 07:45:41 PM
 #9


Interesting. How will you handle the transition and prevent allegations of insider trading? I assume that you have shares in NastyMining, so there's no real way for you to avoid a conflict of interest.

When more information regarding ASIC development and the BFL trade-in program is made public, shareholders will find out the same time as I do.  I don't think insider trading is a big concern.  I won't know exactly how the transition will be handled until the details are announced.

Everyone should find out about the trade in program at the same time, but the transition from a 1MH/s bond to a 20MH/s bond is a huge one that's under your control.

Let me propose this scenario, and I'm not saying you would do this. It's just something that could possibly happen.

A miner issues 20000 shares of a 1MH/s mining bond, selling 10,000 of them at the current price of about 0.30BTC. This brings in 3000BTC.
In 6 months BFL products hit the market, and a 1MH/s mining bond is selling for ~0.03BTC.
The issuer buys 5000 shares of his bond on the market for 150BTC.
The issuer amends the offering to be a 20MH/s bond. Dividends shoot up 2000%. The bond starts trading at 0.6BTC.
The issuer slowly releases his new 5000 shares for 0.6BTC, collects 3000BTC.
JWU42
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June 16, 2012, 07:57:04 PM
 #10

If you wanted to earn dividends mining with Bitforce Singles on GPUMAX.com until they can be upgraded to ASIC Miners:
https://bitcointalk.org/index.php?topic=86854.0

 Roll Eyes


GPG PubKey | THREEMA | OTC | HeatWare | 1JWU42QLGFESoQCC4iPzUDTRiC9nx5bi95
OgNasty
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June 16, 2012, 08:21:13 PM
 #11


Interesting. How will you handle the transition and prevent allegations of insider trading? I assume that you have shares in NastyMining, so there's no real way for you to avoid a conflict of interest.

When more information regarding ASIC development and the BFL trade-in program is made public, shareholders will find out the same time as I do.  I don't think insider trading is a big concern.  I won't know exactly how the transition will be handled until the details are announced.

Everyone should find out about the trade in program at the same time, but the transition from a 1MH/s bond to a 20MH/s bond is a huge one that's under your control.

Let me propose this scenario, and I'm not saying you would do this. It's just something that could possibly happen.

A miner issues 20000 shares of a 1MH/s mining bond, selling 10,000 of them at the current price of about 0.30BTC. This brings in 3000BTC.
In 6 months BFL products hit the market, and a 1MH/s mining bond is selling for ~0.03BTC.
The issuer buys 5000 shares of his bond on the market for 150BTC.
The issuer amends the offering to be a 20MH/s bond. Dividends shoot up 2000%. The bond starts trading at 0.6BTC.
The issuer slowly releases his new 5000 shares for 0.6BTC, collects 3000BTC.

Since the market is aware that this transition to ASIC miners is going to happen and I have made that very clear, I don't see why the price would fall to 0.03BTC/share.  If it did, there would be no harm in buying up all the available shares on the market, as that is what a free market is about.  As long as the buyer didn't have any inside knowledge that wasn't available to the public, I don't see the problem.  That is why I will continue to make the company's plans very clear.

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Philj
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June 16, 2012, 08:26:19 PM
 #12

Interesting.

My personal train of thought is that most mining operations will end up offering something along the lines of what I'm doing with my PIMP bonds or what OgNasty is doing with his bonds. There may be a little confusing numbers to crunch, but investors in a bond that will adjust with the coming asics will end up being in the best position.
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June 16, 2012, 09:50:02 PM
 #13

4. Even at $0.03 per mhash, that is 0.195 BTC/mHash considering the current exchange rate of $6.5.

You are doing the math wrong: $0.03/mhash =  0.0046BTC/mhash.
That is a major mistake and should change your conclusion a lot.

Trade Bitcoin using credit card and with 4:1 leverage at plus500.
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filharvey
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June 16, 2012, 10:04:32 PM
 #14

It will be interesting to see how the pricing of 1MH/s bonds will price out. At the moment, I personally think things will remain the same. BFL have not got the greatest rep for delivering on time, so even if it is 6 months away, people will make reasonable money with the current bond pricing, for several months. Also over time, the pricing for the 1MH/s bonds was always going to fall.

Phil
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June 16, 2012, 10:22:43 PM
 #15

As long as the buyer didn't have any inside knowledge that wasn't available to the public, I don't see the problem.

Why? Insider trading makes markets more efficient.

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June 17, 2012, 01:07:11 AM
 #16

5. The real number is probably higher since ASICs won't dominate the market for several months after deliveries are made.

I fail to see how that statement has any basis in reality, when they ship if one rig box a day is put into production then in twelve days the network hash power is already doubled on the thirteenth day they are the majority of the hashing. At the end of two months at one a day the network has grown by five times its previous rate.
cuz0882
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June 17, 2012, 05:05:33 AM
 #17

It must be true if yahoo posted it.. http://news.yahoo.com/leading-sha256-hardware-manufacturer-acquires-venture-capital-funding-081026668.html
Time to set up shop, the guy with 100 posts on the forum speaks for BFL. No reason for them to even bother posting it on their website..
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June 17, 2012, 01:38:50 PM
 #18

In your analysis you forget to take in the account the halving of the reward in 6 months and the increase of hashing power coming online next week. God forbid if the Bitcoins goes back to $5!

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June 17, 2012, 01:48:49 PM
 #19

True! I will take your word and I hold you responsible Smiley

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