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Author Topic: Jtme  (Read 11105 times)
Francesco
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August 23, 2012, 08:23:28 PM
 #21

Great how you handled the Pirate thing.

But now... next payment is the 8°, so, you will start getting paid on your shares. Fair enough, but, how many do you hold? Does this mean all the 7000 shares issued will be paid? Since now it's 2,1% over little more than 500 shares, interest would go to 0,15% if the number of "effective" shares is multiplied by 14.
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MoinCoin
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August 29, 2012, 03:08:48 AM
 #22

How about a vote for the shareholders on GLBSE ? Smiley
P.S. agree on 1 more BFL but would not mind if you could snipe some cheap graphic cards

Any idea when the ordered BFL FPGA hardware will ship?
Shadow383
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September 04, 2012, 12:31:37 AM
 #23

Check it out, we're in 7th! Wink

http://stochastically.com/
Not bad!
I'm holding a few of your shares, 2.3% per week for a scheme that's not an elaborate ponzi is pretty good!

By the by, what do you think of this:
https://bitcointalk.org/index.php?topic=79637.msg1157524#msg1157524

Could be worth acquiring one or two to reduce your exposure to rising difficulty post-ASIC?
@ $1069 each a 205BTC share issue would get two of them pre-ordered, 263Mhash/s per BTC looks pretty nice from here  Wink
Rathian
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September 04, 2012, 12:52:57 AM
 #24

Check it out, we're in 7th! Wink

http://stochastically.com/
Not bad!
I'm holding a few of your shares, 2.3% per week for a scheme that's not an elaborate ponzi is pretty good!

By the by, what do you think of this:
https://bitcointalk.org/index.php?topic=79637.msg1157524#msg1157524

Could be worth acquiring one or two to reduce your exposure to rising difficulty post-ASIC?
@ $1069 each a 205BTC share issue would get two of them pre-ordered, 263Mhash/s per BTC looks pretty nice from here  Wink

As a small holder I'd second taking a look and considering them!  Smiley
Shadow383
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September 04, 2012, 05:26:00 PM
 #25

Check it out, we're in 7th! Wink

http://stochastically.com/
Not bad!
I'm holding a few of your shares, 2.3% per week for a scheme that's not an elaborate ponzi is pretty good!

By the by, what do you think of this:
https://bitcointalk.org/index.php?topic=79637.msg1157524#msg1157524

Could be worth acquiring one or two to reduce your exposure to rising difficulty post-ASIC?
@ $1069 each a 205BTC share issue would get two of them pre-ordered, 263Mhash/s per BTC looks pretty nice from here  Wink

2.3% a week is about to half.   When we start recieving our BFL asics, its gonna be crazy high thu Wink

Those are sweet!  Just ordered one for the company!  Now the company owes me around 80 btc.  I'll have to do the math later Wink.

We are still in IPO.  As the funds from new investors come in we purchase equipment.  Only 542 of the initial 5250 shares have been sold to date.
Cool, well I just bought up another 10BTC worth of shares  Smiley
Shadow383
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September 07, 2012, 10:50:24 AM
 #26

Welcome new investors! Wink
More bASIC's
More bonus PPS Wink
Tongue
MoinCoin
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September 07, 2012, 08:27:52 PM
 #27

Welcome new investors! Wink

Huh
https://glbse.com/api/quantity_trading/JTME
still 542

Silverbox - I really enjoy the effort you put into this project, and you are of course entitled to your 25% cut, but:
The ratio of 600 paid owner shares vs. 542 public shares is quite unfair!
This will most likely ensure that the other 4,708 public shares will never be sold!

I urge you to limit your payout to 25% of public sold shares for future dividend payments.

Also this lead me to ask myself, what would be in the event of liquidation:
Your 1,750 shares vs. our 542 shares would mean that we'd only get about 0.20 BTC if you were able to get good prices for the Hardware.

Please give some transparency about the future development, so the remaining shares will find their new owners soon!  Wink

Kind regards

MoinCoin
Francesco
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September 07, 2012, 09:25:29 PM
 #28

Welcome new investors! Wink

Huh
https://glbse.com/api/quantity_trading/JTME
still 542

Silverbox - I really enjoy the effort you put into this project, and you are of course entitled to your 25% cut, but:
The ratio of 600 paid owner shares vs. 542 public shares is quite unfair!
This will most likely ensure that the other 4,708 public shares will never be sold!

I urge you to limit your payout to 25% of public sold shares for future dividend payments.

Also this lead me to ask myself, what would be in the event of liquidation:
Your 1,750 shares vs. our 542 shares would mean that we'd only get about 0.20 BTC if you were able to get good prices for the Hardware.

Please give some transparency about the future development, so the remaining shares will find their new owners soon!  Wink

Kind regards

MoinCoin


Really interested in this.
Personally, reading the presentation I simply assumed from the beginning that the plan was

  • attract investors with crazy inflated returns
  • dilute their shares to nothing or near
  • ? ? ? ?
  • profit!

so I profited from the high rates in time, and quickly liquidated after 8° dividend. But maybe he'll decide to take a different course of action, let's see.
Francesco
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September 07, 2012, 10:16:18 PM
 #29

Welcome new investors! Wink

Huh
https://glbse.com/api/quantity_trading/JTME
still 542

Silverbox - I really enjoy the effort you put into this project, and you are of course entitled to your 25% cut, but:
The ratio of 600 paid owner shares vs. 542 public shares is quite unfair!
This will most likely ensure that the other 4,708 public shares will never be sold!

I urge you to limit your payout to 25% of public sold shares for future dividend payments.

Also this lead me to ask myself, what would be in the event of liquidation:
Your 1,750 shares vs. our 542 shares would mean that we'd only get about 0.20 BTC if you were able to get good prices for the Hardware.

Please give some transparency about the future development, so the remaining shares will find their new owners soon!  Wink

Kind regards

MoinCoin


I'm actually losing money at this point, even with taking profit on 600 shares.  I had 3 gh operating that I put into the company when it was founded.  I made ZERO BTC mining for 2 months on that gear.  Now we are operating at 6.5 Gh/s and I'm taking approximately half of the profits, which is what I would have had if I had never started the company, and I would have the last 2 months of mining profits.  Apparently you think its unfair for me to lose money and donate all my time to run the company..

I think a 1% rate of return with a large amount of ASIC gear in the pipeline (which when it arrives will earn us far more then 1% a week) and owning all the equipment is a GREAT deal for the investors, if you don't, your welcome to sell your shares.

If we had all our ASIC gear today, and difficulty was double what it is today.  We would be making 25 times what we are now, thats 25% per week...

No other mining company that I know of has so little put in by the investors with such a huge amount of ASIC gear ordered.

So far 42% has been paid out in dividends to the Shareholders who bought on the day of the IPO.  Again I know of no mining company that paid out 42% in the first 2 months...

I intentially frontloaded the dividends to attract investors, but our backend (when ASIC gear arrives) is even bigger..  Stick around, you won't regret it. Wink



Well you attracted investors with high immediate profits, that are no longer there; sure, there is something else, but you can't expect them all to understand the paradigm shift immediately.
Maybe you could make a table comparing ordered megahashes for different companies, and showing in an immediate manner why this one will be more valuable than competitors when ASICs hit.
MoinCoin
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September 07, 2012, 10:32:27 PM
 #30

Dear Silverbox,

I'm actually losing money at this point, even with taking profit on 600 shares.  I had 3 gh operating that I put into the company when it was founded.  I made ZERO BTC mining for 2 months on that gear.  Now we are operating at 6.5 Gh/s and I'm taking approximately half of the profits, which is what I would have had if I had never started the company, and I would have the last 2 months of mining profits.  Apparently you think its unfair for me to lose money and donate all my time to run the company..
Yes - because you did not annouced it early enough.
Meaning intransparent actions are unfair because there is a imbalance of knowledge between you and us.
Do not misunderstand me - you are entitled to a fair share of the generated income!
Please update the OP to include details of the future development of your cut, so that shares have a chance to be sold.
OP currently reads: "From dividend 13 on I - Silverbox will take everything"
I don't think that this will attract new investors (also see Francescos post).


I think a 1% rate of return with a large amount of ASIC gear in the pipeline (which when it arrives will earn us far more then 1% a week) and owning all the equipment is a GREAT deal for the investors, if you don't, your welcome to sell your shares.

If we had all our ASIC gear today, and difficulty was double what it is today.  We would be making 25 times what we are now, thats 25% per week...

No other mining company that I know of has so little put in by the investors with such a huge amount of ASIC gear ordered.
That has to be seen as you do not state if you take ~75% of the income and leave us only with the remainder.
Please update OP so that we can estimate the development.

So far 42% has been paid out in dividends to the Shareholders who bought on the day of the IPO.  Again I know of no mining company that paid out 42% in the first 2 months...

I intentially frontloaded the dividends to attract investors, but our backend (when ASIC gear arrives) is even bigger..  Stick around, you won't regret it. Wink
I want to - I even want to buy alot more shares - but this is impossible because you are not transparent enough and I'm unwilling to take that risk if shares are likely to drop below 0.5 BTC atm.

Kind regards
MoinCoin


MoinCoin
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September 07, 2012, 11:33:05 PM
 #31

Are you serious with this nontransparent shit??  The OP has said since the first week of the IPO the operator will not be taking profits on his shares for the first 8 dividends..  I should by the terms of the VERY TRANSPARENT contract/OP be taking dividends on 1750 shares, right NOW.
Yes I am! And please do not get emotional over numbers!

I'm starting to get a little pissed, that your bitching at me while I'm losing money/time and not taking the profits the contract states I should be.

If you think on dividend 13 I'll screw everyone, which is what your your posts boil down to, sell your shares.

I think JTME's track record speaks for itself, if you can't handle it, sell your shares.
No i do not think you will - but the problem is the OP implies it!

If you don't want to be in on the ASIC gravy train, sell your shares.
I'm already heavily invested with NASTY so anyway I'll be on the train!

You know I've just had a thought, I have the askwall at 1.05 btc, I think I should start raising it up, this company is grossly undervalued compared to others.  

What rate should we raise the big askwall?  .01 per week, and with every piece of ASIC gear received raise it up a bunch..  

That way people have an incentive to invest today, instead of waiting to invest later on when we are on the ASIC gravy train..

Yup, I like that idea.
My intention with this post was to increase shareholder value, but sadly this is turning the other direction!
Don't be the new DMC!
MoinCoin
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September 07, 2012, 11:56:07 PM
 #32

That is exactly my point!
NASTY will get ASIC way before JTME (you should know your competitors)
With NASTY i can aproximate chances and risks.

I observed some simple investment strategies that many people use:
1. Greed
2. Diversification
3. Long term investment - which requires that you understand the investment.
4. Margin trading

I try to go with long term investment, but i obviously fail sometimes.
I currently do not understand JTME, as i cannot approximate the performance even over the next weeks so at least for me this is no good investment regardles how much BTC i will make or loose.

Again:
Please update OP what you will do after dividend 12

When no additional shares are sold the value of JTME will drop and the only guy really profiting from the ordered ASICs will be you.
MoinCoin
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September 08, 2012, 12:13:44 AM
 #33

So then why are you here? 

Sell your JTME and go buy nasty..

Its obvious that you think a 1.4% payout is superior to 42%..


You still don't get me *sad*
I'm trying to understand JTMEs future and secure the value of my shares.

If you think you are superior it should be no problem for you to provide a forecast for the rest of the year.

Scenario 1 where you will sell all shares and ASIC will be delivered before block halving.
Scenario 2 where you will sell no additional shares and ASIC will be delivered after block halving.

I hope for scenario 1 but if I'm correct the last share sold was more than three weeks ago.
Since then the price only went down.

I don't want you to dictate the rules so please see this "scenario thing" only as a weak suggestion.

Please feel free to come up with something usefull alike.

Kind regards
MoinCoin
MoinCoin
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September 08, 2012, 12:26:40 AM
 #34


Its pretty straight forward, the contract spells it out, you can't read??

We will mine with our gear.  As more funds are raised we will buy more gear.  The profits will be distributed to the shareholders..

You don't understand the business model???

Seriously..

Oh as for Dividend 13, the OP/contract clearly spells out what will happen.  But, most likely I'll not take profit on all of my shares and continue to lose money on this venture, in spite of the fact that I have to deal with troll posts like yours.
Sorry will you confirm?
For dividend 13 are entitled to 1750 shares of the profit but maybe take less?
"Likely" will unlikely work.

I do understand the business model - i just do not understand the business plan.
MoinCoin
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September 08, 2012, 12:45:49 AM
 #35

For dividend 13 I am entitled to 1750 shares of profits, but will most likely take less.  Probably the same as for Dividends 9-12, but things may change.  You might annoy me so much that I'll start taking what the contract says I'm entitled to.  Wink
That would be sad.

Okay I try again.
I want to make a long term investment in JTME.
Therefore i need to understand the business plan.
Therefore i need a commitment from you.
For example:
I'd be happy if you agree to take the dividends from 600 shares for now on and for each 3 shares sold you will grant yourself dividends equal to one more share up to your 1,750 shares.

That would make the future development transparent enough for me.

Kind regards
MoinCoin
MoinCoin
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September 08, 2012, 01:11:31 AM
 #36

Oh so now you want to rewrite the company contract.  You have 76% of the shares??  I'm pretty sure you don't Wink

Fine I'll be happy to do that deal, if you invest 3000 BTC @ 1.05 per share.  In fact for 1000 BTC, I'll send you all the gear, you can take over the company and run it how you see fit, since I'm doing such a bad job, lol.

Okay, so if i understand correctly:
You are unwilling to make a commitment that surpasses already granted shareholder rights in the contract.
So while you provided the business model you are unwilling to provide an updated financial or business plan.


IMHO this means that unless you attract a big investor no additional shares will ever be sold as other mining companies will outperform JTME shortly.
Why? I and other potential buyers and shareholders have to assume that it's likely that you will take dividends on 1,750 shares of the total 2,292 soon.
This will drop dividends  to approx. 0.0045 pre block halving and approx. 0.002 after block halving.
IMHO ASIC will have no great effect on income, because everybody will mine with ASIC soon.

Please rethink

Edit:
Furthermore
As GPU mining will become unprofitable - 1,750 of 2,292 shares of sales revenue of the mining rigs will go into your pocket
MoinCoin
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September 08, 2012, 01:18:33 AM
 #37

Where is your problem
Make a commitment!
MoinCoin
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September 08, 2012, 01:23:55 AM
 #38

That commitment is worthless.
It grants you more than 75% of the investors BTC at your will.
MoinCoin
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September 08, 2012, 01:38:31 AM
 #39

If you don't want to scam us you should only have advantages making a commitment to shareholders.

Edit:
You are hilarious - stating yourself that your current commitment is worthless
Trance104
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September 08, 2012, 01:44:31 AM
 #40


It will be a partial Pirate pass thru at full rate.  Half of the interest kept by the company, half to the shareholders.  If Pirate defaults only some of the funds will be at risk.  (If Pirate defaults before 7/23, everything to that point will likely be lost, the risk IMO of a default in the next 2-3 months is very low).

This alone should scare you away.

Best of luck with your endeavor!


Can't stop the Trance! Dance!! DANCE!!!
www.youtube.com/pixelfixgaming
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