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Author Topic: [GLBSE] LIVE! CANMINE 0.3BTC 1MH/s MINING BOND WITH CLEAR PATH TO ASIC UPGRADE  (Read 1850 times)
EskimoBob
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June 23, 2012, 08:32:21 AM
 #21

Do not get me wrong, I am not trying to make your life hard or discourage you. 

How are you planning to sell 1MH/s bFRN (bastardised Floating Rate Notes - no spread) at 0.3BTC when rest of the market pays approximately 0.18 BTC per 1MH/s? Unless some greedy miners burn downs few TH worth of mining farms, difficulty probably keeps creeping up. Guess what happens to to the price of 1 MH/s bFRN?

Because FRN are also called "floaters", I'll start calling perpetual bitcoin floaters as "Turd(s)". Not only your bFRN, all of them!

What do you think, how long will it take for the first ASIC to actually show up and how long will it take for you to get your hands on one? 6 months? 9? A year?
As you and others probably have realized, up to that beautiful day,  your bFRN's (Turds from now on) are just 1MH/s Turds. Nothing more, nothing less. There are plenty of better priced Turds out there, floating happily around in the GLBSE river.

I'll give you friendly advise: Figure out how to make your "turds" attractive so they can withstand the future rise of diff  and you will have all the investors you need. Hold on, I did make that recommendation earlier. Wink 0.3BTC for 1MH/s is far from interesting in current conditions, not even with the pipe dream about the ASICS added as a sweetener on top of it.

PS! Read some books or websites about financial instruments. This will give you a better ideas how debt and equity markets are working and how, why and when different instruments are actually used. Also, it will help you understand wtf I am talking about. Wink

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
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June 23, 2012, 09:30:52 AM
 #22

Do not get me wrong, I am not trying to make your life hard or discourage you. 

How are you planning to sell 1MH/s bFRN (bastardised Floating Rate Notes - no spread) at 0.3BTC when rest of the market pays approximately 0.18 BTC per 1MH/s? Unless some greedy miners burn downs few TH worth of mining farms, difficulty probably keeps creeping up. Guess what happens to to the price of 1 MH/s bFRN?

Because FRN are also called "floaters", I'll start calling perpetual bitcoin floaters as "Turd(s)". Not only your bFRN, all of them!

What do you think, how long will it take for the first ASIC to actually show up and how long will it take for you to get your hands on one? 6 months? 9? A year?
As you and others probably have realized, up to that beautiful day,  your bFRN's (Turds from now on) are just 1MH/s Turds. Nothing more, nothing less. There are plenty of better priced Turds out there, floating happily around in the GLBSE river.

I'll give you friendly advise: Figure out how to make your "turds" attractive so they can withstand the future rise of diff  and you will have all the investors you need. Hold on, I did make that recommendation earlier. Wink 0.3BTC for 1MH/s is far from interesting in current conditions, not even with the pipe dream about the ASICS added as a sweetener on top of it.

PS! Read some books or websites about financial instruments. This will give you a better ideas how debt and equity markets are working and how, why and when different instruments are actually used. Also, it will help you understand wtf I am talking about. Wink

If BFL is serious and keeps up their promise this time 'round (they acknowledged all that went wrong with the current singles, so that is an encouraging start) then we will see the first ASIC in the wild in less than 4 months.... making all of the NON-upgradable mining bonds out there obsolete.

I'm not advocating buying into this one, as I don't like any of the mining bonds out there

Ciuciu is in the process of listing a mining COOP on GLBSE which is in my mind a much better place to put your money.... pool your BTC together with others to be able to afford an ASIC 1 TH/s beast.... and hope this COOP will be amongst the first to get their hands on it....

In the mean time you are better off putting your money with one of the high-yielding borrowing schemes.... no hashing can beat 6.9% (Payb.tc) per week, compounded interest.... especially not when your hashing power depends on the pre-order queue at BFL Wink
ciuciu
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June 23, 2012, 12:40:11 PM
 #23

Do not get me wrong, I am not trying to make your life hard or discourage you.  

How are you planning to sell 1MH/s bFRN (bastardised Floating Rate Notes - no spread) at 0.3BTC when rest of the market pays approximately 0.18 BTC per 1MH/s? Unless some greedy miners burn downs few TH worth of mining farms, difficulty probably keeps creeping up. Guess what happens to to the price of 1 MH/s bFRN?

Because FRN are also called "floaters", I'll start calling perpetual bitcoin floaters as "Turd(s)". Not only your bFRN, all of them!

What do you think, how long will it take for the first ASIC to actually show up and how long will it take for you to get your hands on one? 6 months? 9? A year?
As you and others probably have realized, up to that beautiful day,  your bFRN's (Turds from now on) are just 1MH/s Turds. Nothing more, nothing less. There are plenty of better priced Turds out there, floating happily around in the GLBSE river.

I'll give you friendly advise: Figure out how to make your "turds" attractive so they can withstand the future rise of diff  and you will have all the investors you need. Hold on, I did make that recommendation earlier. Wink 0.3BTC for 1MH/s is far from interesting in current conditions, not even with the pipe dream about the ASICS added as a sweetener on top of it.

PS! Read some books or websites about financial instruments. This will give you a better ideas how debt and equity markets are working and how, why and when different instruments are actually used. Also, it will help you understand wtf I am talking about. Wink

While I agree with some of your views, I've never seen you lecturing in the GIGAMINING, BITBOND or YABMC thread. Maybe you should go also there, that people really need yor advice!

EskimoBob
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June 23, 2012, 01:26:02 PM
 #24

While I agree with some of your views, I've never seen you lecturing in the GIGAMINING, BITBOND or YABMC thread. Maybe you should go also there, that people really need yor advice!

Those Turds area all done deals and there is nothing anyone can do to fix them. Who knows, maybe diff drops and the prices recover. Everything is possible. In this case, you are back in business but people have started to understand, that perpetual Turds are only good for the issuer.
You have, or actually had, a good chance to change your IPO in to a competitively priced success story. You choose not to and now you are acting all hurt and what not. Sorry mate, but I am not your enemy here Smiley

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
ciuciu
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June 23, 2012, 01:37:46 PM
 #25

While I agree with some of your views, I've never seen you lecturing in the GIGAMINING, BITBOND or YABMC thread. Maybe you should go also there, that people really need yor advice!

Those Turds area all done deals and there is nothing anyone can do to fix them. Who knows, maybe diff drops and the prices recover. Everything is possible. In this case, you are back in business but people have started to understand, that perpetual Turds are only good for the issuer.
You have, or actually had, a good chance to change your IPO in to a competitively priced success story. You choose not to and now you are acting all hurt and what not. Sorry mate, but I am not your enemy here Smiley


Really, I'm not hurt at all. At this moment, I believe is better for me if the bonds do not sale.
All I'm doing is offer people options. See my 2% deposits offering or the ASIC COOP.
I count on you when GIGAMINING will offer new bonds to be there for us, the consumers!


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