Hello fellow bitcoiners,
I like to gauge interest in my new mining company. I just bought 1 Butterfly Labs Single (delivery tomorrow or friday) and it will be upgraded as soon as IPO has been launched. There will be no extra costs for shareholders by the upgrade. Please respond your questions or critics. If enough bitcoiners like to invest I will open an IPO at GBSLE.
[PGM] Paladon Green Mining
Hardware
1 Butterfly Labs Single @ 0.82Gh/s (be upgraded to BFL Single ‘SC’ @ 40Gh/s) (photo will be posted this week)
Share
1000 shares with be issued @ 0.25 BTC each. This price is including the ASIC upgrade.
Each share = 0.82Mh/s right now. After upgrade each share = 40Mh/s
All of the Generated BTC will be payed as dividend every week -/- expenses
Revenue
All mining revenue will be distributed to shareholders in the form of dividends (after expenses). Dividends will be paid weekly. Profits are the net income remaining after expenses including operating costs (electricity, repair work, maintenance, small hardware), investments in existing or new service development, and any other action capital investment that the organization deems necessary to take part in.
Electricity is de largest part of the operating costs. Electricity price is € 0,22 p/Kwh (I know this looks expensive for a lot of people but a very normal price in The Netherlands). Electricity is green electricity so guaranteed no pollution. (I am thinking of building my own solar panels in the near future).
Currently the expenses% = 25%. So 75% of the generated BTC will be paid as dividend weekly.
At the moment the 0.82Gh/s can produce about 2.834751 BTC a week. Minus expenses I will pay 2,126063 BTC. This is 0,002126 BTC per share.
Miscellaneous
Mining will occur at a mining pool of the company`s choice or solo mining if profitable. The operator of the company reserves the right regardless of the number of shares held to raise a motion and to liquidate the company's assets and cease operations. Of course in case of liquidation assets will be sold and minus expences be paid to the shareholders. The operator also reserves the right to issue more shares to expand operation. Any motions raised by shareholders will be considered advisory and non binding. Shares do not represent an ownership share in the mining hardware and in the event of liquidation. The issuer can change the % of the expenses if needed to cover the expenses of the company. If the expenses of the company exceeds the income of the generated BTC, the company has to right to temporary shut down the operation. The issuer can buy back the share at any time at a price equal to 1.05 times the highest price the asset was traded on GLBSE over the prior 15 days. The operator of the company has the right to retain shares in the company.
About Me
I am living in The Netherlands and 36 years old and I will be doing my utmost best for you to keep this company up and running. Off course I wil identify bij GBSLE. More questions? Just ask!
Best regards,
Paladon
" Shares do not represent an ownership share in the mining hardware and in the event of liquidation."
I guess those are not shares of equity (stock)
per se but more like bonds, with 0.82Gh/s "coupon"?
Lets say that in next 6 months, diff will go up only by 5% on average per month:
Month BTC USD Difficulty
1 11.71 90.4012 2245429.87528
2 10.48 80.9056 2475586.4375
3 9.39 72.4908 2729334.04734
4 8.35 64.462 3159545.32656
5 7.48 57.7456 3483398.72253
6 6.69 51.6468 3840447.09159
Please, do not take it personally.
As you can see, income per
bond mining turd will fall fast and so will the price.
If you like to issue a real bond (aka take a loan to finance your business) you can not dump all the risk on turd holders as you do now.
Fix a part of the coupon (0.5%?) and add something from your mining power (0.3 Mh/s?).
Then add maturity date and buy back price and you got yourself a deal.
Sorry, but this sure looks like just another mining turd
If you believe that BTC price is going up for the next 6 months, you are probably better off buying BTC.
