Topic: [796.com] RedStarMining.com - the oldest public mining security [15.0(TH/s)] - page 28. (Read 120478 times)

Thanks.

Purchased in exchange for 2.4 bitcoins, payment on delivery to 1ECJKKXYiUKjPwFW4BRBKKjiSnjutkZDXe

I've converted the £180 VAT cash back into bitcoin as it is no longer needed for paying import VAT.  So our new wallet balance is BTC46.89898951 and the actual wallet addresses are on the new spreadsheet done by Evolvex - https://docs.google.com/spreadsheet/ccc?key=0AolvfZ07D-3SdHBuaGcxRUw3SEkwTzUyVXVqUzRPZFE&pli=1#gid=0 - So that means we are about half way to our fourth ASIC which will take us up from 160(GH/s) over 2344 shares or 76.79(MH/s)per share to 240(GH/s) over 2344 shares or 102.389(MH/s)per share.  Which should increase profits by around ~25%.  Once we have saved enough for our fifth ASIC we will be at 300(GH/s) over 2344 shares or 127.986(MH/s)per share.  Which is about another 25% increase in profits.  

Can you all see why its so important that we are saving 50% of profits for reinvestment by buying more ASIC's.  I'm even in favour of rising the reinvestment fund all the way up to 90% of profits.  As each new ASIC we buy greatly increases profits.  Although I know you all want to see some dividends being paid again.  So I won't put forward the motion of increasing the growth fund until we have all three of our pre-ordered ASIC's and have paid some dividends.

On another note as we have a large amount of bitcoins that is only going to grow in amount I'm going to purchase a Yubikey to secure our wallet.  They only cost $25 - https://store.yubico.com/store/catalog/product_info.php?products_id=3 - and don't worry our coins are not held on MtGox but on blockchain.info hybrid wallet.  So they don't have access to our wallet and copy is also kept and updated to my 'Google Drive'.

    

You just need to keep a copy of the coloured coin genesis transaction hash id.

Thanks for working on our spreadsheet.

Whats this about having to keep a copy of a coloured blockchain or the shares vanish? I didn't realize about that - why's that, does that mean I have to keep a pc on all the time in order to keep my coloured coins?

Shall update the spreadsheet over the next couple of days when im not so busy.

RSM name may be changing to something which describes it more in the future and were looking at starting a new Tumblr site and moving away from this forum as much as possible eventually.  I was thinking of 'The Miners Cooperative Club' or MCC.  If you have any better ideas then let us know.

As RSM has been bootstrapped for $4,000 of hardware we're not touting for more investment as we have a 50% reinvestment plan that may even be extended.  Our aim is to become (one of) the biggest player(s) in bitcoin mining.  The way I see it if bitcoin is successful then being (one of) the largest mining outfit(s) will be more important than the dividends paid now and pay well as the block reward shrinks every four years.  That is more important than to just get as many dividends as possible before we would be forced to shut down.

Evolvex has designed our new spreadsheet - https://docs.google.com/spreadsheet/ccc?key=0AolvfZ07D-3SdHBuaGcxRUw3SEkwTzUyVXVqUzRPZFE - as you can see its much better than my old spreadsheet.  So I think he has earned the role of accountant ' spreadsheet designer and operator' and the 1% salary.  He also may be working on our new Tumblr site so he may earn half the salary role of 'admin' or maybe even the full 1% depending on his work against mine.  The four paid positions of CEO 'Club Chairman' 2%,  Treasurer 'Payments and Coins Sorter' 1%, Accountant 'Spreadsheet Designer and Operator' 1% and Administrator 1%.  The salaries won't come into effect until a month after we have received our third BFL-BitForce-SC-Single and will be taken from the dividends wallet.

We received our coin back from the GLBSE.  The new wallet I've created for our coins now holds BTC34.91898951  The ASIC's should start shipping in the next three weeks.  Once we have received the shareholder list and the first ASIC then dividends will be paid monthly around the beginning of the month.  If you only own a few shares then your dividends will be paid out on the first month your total equals >BTC1.0005.  One of our shareholders is working on a new spreadsheet for us so you can see the progress of your dividends and all other accounting.

The company currently ownes $4,022 of hardware assets.  That's $1.71587030716724 per share we also have ~BTC24.00 on the GLBSE and £90 of cash left that I'm converting into bitcoin tonight while the price is low.

The only other shareholder I've spoken to (who is in the Retroshare pgp web of trust) is keen on the idea.  This is not a benevolent thing were doing.  We offering the pay as an incentive to devs to build us a usable product for managing, proving ownership, paying dividends and trading shares in our asset.

As I'm new to pgp encyption and Retroshare does it all for you it what I'm going to use for RSM votes.  So if you want to vote I recommend you install it, add my key plus sign it and send me yours.  Although I haven't got our shareholders list yet to work out each shareholders weighting

Basically to prove ownership of our asset and pay dividends.  I recomend you read up on coloured coins.  Try these two links -

https://bitcointalksearch.org/topic/chromawallet-colored-coins-issue-and-trade-private-currenciesstocksbonds-106373

https://bitcointalksearch.org/topic/blockchain-security-trackingcolored-coinssmart-contracts-short-python-script-117630

You should be able to hold your coloured coins (shares) in blockchain.info online wallet.  Blockchain.info online wallet is very secure, they don't hold your coins and your wallet can be automatically backed up to your email or dropbox.  What I will be recommending tho is for as many people as possible on as many different PC's as possible is to run a new altered version of the default bitcoin wallet.  To keep a copy of our new coloured blockchain that proves everyone's ownership.

What are you using these projects for?

I took the executive decision and unless there is a major shit-storm about it I'm doing it for the health and benefit of our asset.  You should look into 'coloured coins' and how useful they will be to us.  They should also probably enable us to hold secure motions eventually.  The only downside is we will need as many shareholders as possible to hold and run the new copy of our coloured blockchain.  As long as we have enough coloured blockchains running for redundancy (because if we don't keep at least one copy everyone's proof of ownership is lost) then you could keep your coloured coins (shares) on the secure online wallet by blockchain.info.  Which is what I'll recommend everyone does: to keep a copy of our new coloured blockchain running on as many PC's as possible if you don't want eveyone including yourself to loose ownership.  Then keep your coloured coins in a separate online blockchain.info wallet that is backed up to your email or dropbox.  Then you can't loose your coloured coins to hardware failure and blockchain.info's wallet is very secure and they don't hold your coins.  As many new coloured blockchains will need to be held as possible try to have mulitple copies of the new coloured blockchain on as many different machines as possible but they don't need to be running 24/7 just kept updated once a day(s).  Otherwise everyone could loose ownership.  I'll keep a copy of all shareholders (weighting) online privately but that doesn't help if the new coloured coins (shares) are traded.

I'm not using Cryptostocks to trade or issue shares.  With coloured coins you could create your own asset on Cryptostocks valued against your coloured coins (shares) if you want to, or on a Open-Transaction server or you could just trade your shares (colored coins) however you want, but I'm not creating, issuing or trading any shares ever again.  Also we are not giving away shares I will hold them.  The devs will just receive the profit from those allocated shares as long as there developing for us.

I've put this bounty up

As long as the shareholders don't massively disagree I'm going to offer out a 0.5% ownership of the former GLBSE mining stock/asset RSM - (https://bitcointalksearch.org/topic/796com-redstarminingcom-the-oldest-public-mining-security-150ths-63257) - That works out currently as ownership of 0.9(GH/s) of BFL-SC-Singles although we will be saving 50% of profits towards buying more ASIC's to increase the (MH/s) per share ratio.  For you to implement this idea and maintain it.  You wont receive the coloured coins relating to that 0.5% that will be held in a separate account managed by me but you will receive all profits made from 0.5% ownership as long as you maintain the code.  I've also offered this bounty to this coloured coins project too - (https://bitcointalksearch.org/topic/blockchain-security-trackingcolored-coinssmart-contracts-short-python-script-117630) - so the first/best implementation will win the bounty.  We don't need to use the coloured coins for about another month yet when we receive our first BFL-SC-Single.

https://bitcointalksearch.org/topic/chromawallet-colored-coins-issue-and-trade-private-currenciesstocksbonds-106373

So we have a way to manage our shares and pay dividends.  You will also be able to issue your own assets on Open-Transaction servers valued against your coloured coins(shares).  I hope everyone is with me on this as its very important for us to be able to operate and move forward.

For any shareholders who want to contact me anonymously and securely with trust you can do so using Retroshare - (http://retroshare.sourceforge.net/) - if we can get enough of us on there we can have a private forum for asset holders only.  Where we can all communicate privatly, securely, anonymously and direct to each other without using any central servers or such infustructure.  Here is my key, if you add me don't forget to post your key here or inbox me and please sign my key so we can start a PGP web of trust -

I think this idea is very important for our asset holders and I put froward the idea we promise the developer a 0.1% stake in RSM once he has made a stable client.  That donation would be (1/1000) stake in us or 180(MH/s) on delivery of our three ASIC's.  What do investors say?  Would a BTC10.00 donation be better if they prefer?