Topic: A Comprehensive Comparative Look at GLBSE Mining Companies (Read 7158 times)
Understand - maybe we post a bounty for someone to research and update weekly?
Could use a refresh?
This is a great start for a guide but I would like the mining CEOs release more financial results. As stated earlier ROI is more than just dividends. A mining company could buy more efficient rigs and increase shareholder. Also, mining companies should take into account the depreciation of their mining rigs. With some numbers they can publish their return on assets and return on equity.
In short they need accountants, until then it would be difficult to set a value on these equities.
In short they need accountants, until then it would be difficult to set a value on these equities.
I actually just put something up about transparency in the M.ETF thread.
M.ETF thread? sorry, forum search turns up nothing. Can you link the thread?
In the Marketplace...just a couple threads below this.
https://bitcointalksearch.org/topic/glbse-metf-the-first-mining-etf-listed-on-the-glbse-67275
I actually just put something up about transparency in the M.ETF thread.
M.ETF thread? sorry, forum search turns up nothing. Can you link the thread?
Thank you for providing a good report on all the mining stocks! Now I can buy in peace 
He was very supportive of BitcoinMint.US when he took over the SLV asset, and turned that one into a scam, manipulating the price and lying outrageously about what he was doing with the fund. There remains several thousand dollars in value that disappeared, while he interestingly continues to offer silver coins to the community here.
Just because Peter Lambert was supportive of BitcoinMint.US means nothing to the character of the latter. BitcoinMint.US is a good and honest trader here in the forums. Don't slander someones name because a scammer may have recommended them.
Can he cut the quotes in half, or quote just the relevant information?!
Interesting.
you could do delayed reports, release info on what you did 1 month later
Interesting data dump and a worthwhile read.
I would however caution everyone to be very, very cautious investing in any asset offered on GLBSE. The first person to offer an in-depth analytical blog reviewing and rating issues on the market was the scammer Peter Lambert. He was also the first to cry wolf about the fake GLBSE shares (which were handled by the real GLBSE folks) and the two US Gold offerings, also scams. He was very supportive of BitcoinMint.US when he took over the SLV asset, and turned that one into a scam, manipulating the price and lying outrageously about what he was doing with the fund. There remains several thousand dollars in value that disappeared, while he interestingly continues to offer silver coins to the community here.
Information is good, having the market leaders tell us that everything is a-okay with a certain issue can sometimes prove to be... a little problematic at least.
I would however caution everyone to be very, very cautious investing in any asset offered on GLBSE. The first person to offer an in-depth analytical blog reviewing and rating issues on the market was the scammer Peter Lambert. He was also the first to cry wolf about the fake GLBSE shares (which were handled by the real GLBSE folks) and the two US Gold offerings, also scams. He was very supportive of BitcoinMint.US when he took over the SLV asset, and turned that one into a scam, manipulating the price and lying outrageously about what he was doing with the fund. There remains several thousand dollars in value that disappeared, while he interestingly continues to offer silver coins to the community here.
Information is good, having the market leaders tell us that everything is a-okay with a certain issue can sometimes prove to be... a little problematic at least.
JL421, thanks for doing this.
I'd be interested in buying some shares of a "managed portfolio contract" as was asked above.
I'd be interested in buying some shares of a "managed portfolio contract" as was asked above.
BMMO has been updated with the new base layout all companies will have. This is just a basic, company only information layout, and soon will be updated to include metrics exclusive to the company, and others like it.
Let me know what you think!
BMMO - (Blockminers.com)
Website - GLBSE Asset Contract - GLBSE Trading Chart - Bitcointalk.org Forum Thread
CEO - teek
Bitcointalk.org Member Since - 09/04/2011
About -
Blockminers.com (BMMO) was started on September 4th, 2011 by Bitcointalk.org member teek. The company IPOed at 0.10 BTC per share, and released 4,000 shares.
BMMO is a company that, rather than issuing shares for part ownership of the company, issue shares that tie directly into a the output of the company. This means the company is essentially a long term mining contract, with no recurring cost to the investor.
The company started with 4 GHash/s of mining power, and each share was worth 1 MHash/s. Currently (03/02/2012) the company operates with 10 GHash/s, making each share worth 2.5 MHash/s.
This company currently charges a 0.0015 BTC (29.41%) per share fee from gross income per share. The company also pays out 100% of profit to shareholders; because of this, the company’s dividend follows the difficulty of the Bitcoin network. The higher the difficulty goes, the lower the dividend gets, and vice versa.
Contract Summary -
One share entitles the bearer to 1 MHash/s of mining power. Share owners do not have any voting rights. A share is in no way a representation of ownership in the company. Dividends are paid within the first 5 calendar days of a given month. (Revised to weekly) If the company starts mining at a loss, BMMO has the right to stop mining, until mining is profitable again, or indefinitely. BMMO will use all reasonable efforts to ensure shareholder value.
Full Contract -
This share entitles the holder to at least ONE MILLION HASHES PER SECOND of hashpower. This hashpower will be used in private computer system owned by BLOCKMINERS.COM and used in the process of "mining" bitcoins. All dividends will be payable within the first 5 calendar days of the following month. (Revised to Weekly) Dividends are not pro-rated; you must hold the share at time of dividend to be paid. The formula for producing dividends is the total amount of mining revenue minus total fees divided by the number of outstanding shares. Mining revenue is the total amount of revenue generated by mining operations in one calendar month. All dates / times will be represented in UTC. The fees as of issue are .003 BTC Per Share and are subject to recalculation monthly on settlement day for the following month. In the event the cost of mining exceeds the value of coins mined, BLOCKMINERS.COM may suspend mining operation for as long as it sees fit to mitigate potential loss, or indefinitely. Though the team at BLOCKMINERS.COM will use all reasonable efforts to ensure value for the holders of these shares, the shares are provided on a best effort basis and as with any investment there is risk involved. Please do not invest what you cannot afford to lose. The limit of liability of a shareholder is limited to the capital already invested when this share was purchased. *** This share does not represent ownership of any company ***
Similar Companies -
PureMining
Trading Volume - Recorded 03/02/2012
1 Day - 20 Shares
2 Day - 37 Shares
7 Day - 85 Shares
30 Day - 345 Shares
6 Month - 4,509 Shares
Trading Price Averages - Recorded 03/02/2012
1 Day - 0.3935 BTC per share
2 Day - 0.3968 BTC per share
7 Day - 0.3894 BTC per share
30 Day - 0.3834 BTC per share
6 Month - 0.1957 BTC per share
Dividend Payout Type -
Weekly dividends - Normally paid on Sundays
Dividend History -
10/02/2011 - 0.0142 BTC Per Share
11/01/2011 - 0.0146 BTC Per Share
12/03/2011 - 0.0159 BTC Per Share
Switched dividend payout from monthly to weekly.
12/11/2011 - 0.0055 BTC Per Share
12/18/2011 - 0.0046 BTC Per Share
12/26/2011 - 0.0041 BTC Per Share
01/01/2012 - 0.0044 BTC Per Share
01/08/2012 - 0.0041 BTC Per Share
01/15/2012 - 0.0041 BTC Per Share
01/22/2012 - 0.0041 BTC Per Share
01/29/2012 - 0.0040 BTC Per Share
02/05/2012 - 0.0039 BTC Per Share
02/12/2012 - 0.0036 BTC Per Share
02/19/2012 - 0.0036 BTC Per Share
02/26/2012 - 0.0036 BTC Per Share
Let me know what you think!
Quote
BMMO - (Blockminers.com)
Website - GLBSE Asset Contract - GLBSE Trading Chart - Bitcointalk.org Forum Thread
CEO - teek
Bitcointalk.org Member Since - 09/04/2011
About -
Blockminers.com (BMMO) was started on September 4th, 2011 by Bitcointalk.org member teek. The company IPOed at 0.10 BTC per share, and released 4,000 shares.
BMMO is a company that, rather than issuing shares for part ownership of the company, issue shares that tie directly into a the output of the company. This means the company is essentially a long term mining contract, with no recurring cost to the investor.
The company started with 4 GHash/s of mining power, and each share was worth 1 MHash/s. Currently (03/02/2012) the company operates with 10 GHash/s, making each share worth 2.5 MHash/s.
This company currently charges a 0.0015 BTC (29.41%) per share fee from gross income per share. The company also pays out 100% of profit to shareholders; because of this, the company’s dividend follows the difficulty of the Bitcoin network. The higher the difficulty goes, the lower the dividend gets, and vice versa.
Contract Summary -
One share entitles the bearer to 1 MHash/s of mining power. Share owners do not have any voting rights. A share is in no way a representation of ownership in the company. Dividends are paid within the first 5 calendar days of a given month. (Revised to weekly) If the company starts mining at a loss, BMMO has the right to stop mining, until mining is profitable again, or indefinitely. BMMO will use all reasonable efforts to ensure shareholder value.
Full Contract -
This share entitles the holder to at least ONE MILLION HASHES PER SECOND of hashpower. This hashpower will be used in private computer system owned by BLOCKMINERS.COM and used in the process of "mining" bitcoins. All dividends will be payable within the first 5 calendar days of the following month. (Revised to Weekly) Dividends are not pro-rated; you must hold the share at time of dividend to be paid. The formula for producing dividends is the total amount of mining revenue minus total fees divided by the number of outstanding shares. Mining revenue is the total amount of revenue generated by mining operations in one calendar month. All dates / times will be represented in UTC. The fees as of issue are .003 BTC Per Share and are subject to recalculation monthly on settlement day for the following month. In the event the cost of mining exceeds the value of coins mined, BLOCKMINERS.COM may suspend mining operation for as long as it sees fit to mitigate potential loss, or indefinitely. Though the team at BLOCKMINERS.COM will use all reasonable efforts to ensure value for the holders of these shares, the shares are provided on a best effort basis and as with any investment there is risk involved. Please do not invest what you cannot afford to lose. The limit of liability of a shareholder is limited to the capital already invested when this share was purchased. *** This share does not represent ownership of any company ***
Similar Companies -
PureMining
Trading Volume - Recorded 03/02/2012
1 Day - 20 Shares
2 Day - 37 Shares
7 Day - 85 Shares
30 Day - 345 Shares
6 Month - 4,509 Shares
Trading Price Averages - Recorded 03/02/2012
1 Day - 0.3935 BTC per share
2 Day - 0.3968 BTC per share
7 Day - 0.3894 BTC per share
30 Day - 0.3834 BTC per share
6 Month - 0.1957 BTC per share
Dividend Payout Type -
Weekly dividends - Normally paid on Sundays
Dividend History -
10/02/2011 - 0.0142 BTC Per Share
11/01/2011 - 0.0146 BTC Per Share
12/03/2011 - 0.0159 BTC Per Share
Switched dividend payout from monthly to weekly.
12/11/2011 - 0.0055 BTC Per Share
12/18/2011 - 0.0046 BTC Per Share
12/26/2011 - 0.0041 BTC Per Share
01/01/2012 - 0.0044 BTC Per Share
01/08/2012 - 0.0041 BTC Per Share
01/15/2012 - 0.0041 BTC Per Share
01/22/2012 - 0.0041 BTC Per Share
01/29/2012 - 0.0040 BTC Per Share
02/05/2012 - 0.0039 BTC Per Share
02/12/2012 - 0.0036 BTC Per Share
02/19/2012 - 0.0036 BTC Per Share
02/26/2012 - 0.0036 BTC Per Share
BMMO shares are not worth 2.5 mhash, they are worth 1mhash.
Your contract says that shares will be worth at least 1 mhash, but with current output and how many shares you have issued, it makes shares worth 2.5 mhash...
Yes - at least 1 mhash, no where does it say the entire output of the farm is divided equally amongst the shares. Right now the shares are set at a fixed value of 1mhash, this may change, it may not, but what our farm puts out is irrelevant. Besides, our farm is bigger than my avatar says so please do not make assumptions.
BMMO has been updated with the new base layout all companies will have. This is just a basic, company only information layout, and soon will be updated to include metrics exclusive to the company, and others like it.
Let me know what you think!
BMMO - (Blockminers.com)
Website - GLBSE Asset Contract - GLBSE Trading Chart - Bitcointalk.org Forum Thread
CEO - teek
Bitcointalk.org Member Since - 09/04/2011
About -
Blockminers.com (BMMO) was started on September 4th, 2011 by Bitcointalk.org member teek. The company IPOed at 0.10 BTC per share, and released 4,000 shares.
BMMO is a company that, rather than issuing shares for part ownership of the company, issue shares that tie directly into a the output of the company. This means the company is essentially a long term mining contract, with no recurring cost to the investor.
The company started with 4 GHash/s of mining power, and each share was worth 1 MHash/s. Currently (03/02/2012) the company operates with 10 GHash/s, making each share worth 2.5 MHash/s.
This company currently charges a 0.0015 BTC (29.41%) per share fee from gross income per share. The company also pays out 100% of profit to shareholders; because of this, the company’s dividend follows the difficulty of the Bitcoin network. The higher the difficulty goes, the lower the dividend gets, and vice versa.
Contract Summary -
One share entitles the bearer to 1 MHash/s of mining power. Share owners do not have any voting rights. A share is in no way a representation of ownership in the company. Dividends are paid within the first 5 calendar days of a given month. (Revised to weekly) If the company starts mining at a loss, BMMO has the right to stop mining, until mining is profitable again, or indefinitely. BMMO will use all reasonable efforts to ensure shareholder value.
Full Contract -
This share entitles the holder to at least ONE MILLION HASHES PER SECOND of hashpower. This hashpower will be used in private computer system owned by BLOCKMINERS.COM and used in the process of "mining" bitcoins. All dividends will be payable within the first 5 calendar days of the following month. (Revised to Weekly) Dividends are not pro-rated; you must hold the share at time of dividend to be paid. The formula for producing dividends is the total amount of mining revenue minus total fees divided by the number of outstanding shares. Mining revenue is the total amount of revenue generated by mining operations in one calendar month. All dates / times will be represented in UTC. The fees as of issue are .003 BTC Per Share and are subject to recalculation monthly on settlement day for the following month. In the event the cost of mining exceeds the value of coins mined, BLOCKMINERS.COM may suspend mining operation for as long as it sees fit to mitigate potential loss, or indefinitely. Though the team at BLOCKMINERS.COM will use all reasonable efforts to ensure value for the holders of these shares, the shares are provided on a best effort basis and as with any investment there is risk involved. Please do not invest what you cannot afford to lose. The limit of liability of a shareholder is limited to the capital already invested when this share was purchased. *** This share does not represent ownership of any company ***
Similar Companies -
PureMining
Trading Volume - Recorded 03/02/2012
1 Day - 20 Shares
2 Day - 37 Shares
7 Day - 85 Shares
30 Day - 345 Shares
6 Month - 4,509 Shares
Trading Price Averages - Recorded 03/02/2012
1 Day - 0.3935 BTC per share
2 Day - 0.3968 BTC per share
7 Day - 0.3894 BTC per share
30 Day - 0.3834 BTC per share
6 Month - 0.1957 BTC per share
Dividend Payout Type -
Weekly dividends - Normally paid on Sundays
Dividend History -
10/02/2011 - 0.0142 BTC Per Share
11/01/2011 - 0.0146 BTC Per Share
12/03/2011 - 0.0159 BTC Per Share
Switched dividend payout from monthly to weekly.
12/11/2011 - 0.0055 BTC Per Share
12/18/2011 - 0.0046 BTC Per Share
12/26/2011 - 0.0041 BTC Per Share
01/01/2012 - 0.0044 BTC Per Share
01/08/2012 - 0.0041 BTC Per Share
01/15/2012 - 0.0041 BTC Per Share
01/22/2012 - 0.0041 BTC Per Share
01/29/2012 - 0.0040 BTC Per Share
02/05/2012 - 0.0039 BTC Per Share
02/12/2012 - 0.0036 BTC Per Share
02/19/2012 - 0.0036 BTC Per Share
02/26/2012 - 0.0036 BTC Per Share
Let me know what you think!
Quote
BMMO - (Blockminers.com)
Website - GLBSE Asset Contract - GLBSE Trading Chart - Bitcointalk.org Forum Thread
CEO - teek
Bitcointalk.org Member Since - 09/04/2011
About -
Blockminers.com (BMMO) was started on September 4th, 2011 by Bitcointalk.org member teek. The company IPOed at 0.10 BTC per share, and released 4,000 shares.
BMMO is a company that, rather than issuing shares for part ownership of the company, issue shares that tie directly into a the output of the company. This means the company is essentially a long term mining contract, with no recurring cost to the investor.
The company started with 4 GHash/s of mining power, and each share was worth 1 MHash/s. Currently (03/02/2012) the company operates with 10 GHash/s, making each share worth 2.5 MHash/s.
This company currently charges a 0.0015 BTC (29.41%) per share fee from gross income per share. The company also pays out 100% of profit to shareholders; because of this, the company’s dividend follows the difficulty of the Bitcoin network. The higher the difficulty goes, the lower the dividend gets, and vice versa.
Contract Summary -
One share entitles the bearer to 1 MHash/s of mining power. Share owners do not have any voting rights. A share is in no way a representation of ownership in the company. Dividends are paid within the first 5 calendar days of a given month. (Revised to weekly) If the company starts mining at a loss, BMMO has the right to stop mining, until mining is profitable again, or indefinitely. BMMO will use all reasonable efforts to ensure shareholder value.
Full Contract -
This share entitles the holder to at least ONE MILLION HASHES PER SECOND of hashpower. This hashpower will be used in private computer system owned by BLOCKMINERS.COM and used in the process of "mining" bitcoins. All dividends will be payable within the first 5 calendar days of the following month. (Revised to Weekly) Dividends are not pro-rated; you must hold the share at time of dividend to be paid. The formula for producing dividends is the total amount of mining revenue minus total fees divided by the number of outstanding shares. Mining revenue is the total amount of revenue generated by mining operations in one calendar month. All dates / times will be represented in UTC. The fees as of issue are .003 BTC Per Share and are subject to recalculation monthly on settlement day for the following month. In the event the cost of mining exceeds the value of coins mined, BLOCKMINERS.COM may suspend mining operation for as long as it sees fit to mitigate potential loss, or indefinitely. Though the team at BLOCKMINERS.COM will use all reasonable efforts to ensure value for the holders of these shares, the shares are provided on a best effort basis and as with any investment there is risk involved. Please do not invest what you cannot afford to lose. The limit of liability of a shareholder is limited to the capital already invested when this share was purchased. *** This share does not represent ownership of any company ***
Similar Companies -
PureMining
Trading Volume - Recorded 03/02/2012
1 Day - 20 Shares
2 Day - 37 Shares
7 Day - 85 Shares
30 Day - 345 Shares
6 Month - 4,509 Shares
Trading Price Averages - Recorded 03/02/2012
1 Day - 0.3935 BTC per share
2 Day - 0.3968 BTC per share
7 Day - 0.3894 BTC per share
30 Day - 0.3834 BTC per share
6 Month - 0.1957 BTC per share
Dividend Payout Type -
Weekly dividends - Normally paid on Sundays
Dividend History -
10/02/2011 - 0.0142 BTC Per Share
11/01/2011 - 0.0146 BTC Per Share
12/03/2011 - 0.0159 BTC Per Share
Switched dividend payout from monthly to weekly.
12/11/2011 - 0.0055 BTC Per Share
12/18/2011 - 0.0046 BTC Per Share
12/26/2011 - 0.0041 BTC Per Share
01/01/2012 - 0.0044 BTC Per Share
01/08/2012 - 0.0041 BTC Per Share
01/15/2012 - 0.0041 BTC Per Share
01/22/2012 - 0.0041 BTC Per Share
01/29/2012 - 0.0040 BTC Per Share
02/05/2012 - 0.0039 BTC Per Share
02/12/2012 - 0.0036 BTC Per Share
02/19/2012 - 0.0036 BTC Per Share
02/26/2012 - 0.0036 BTC Per Share
BMMO shares are not worth 2.5 mhash, they are worth 1mhash.
Just bookmarked your guide in the GLBSE CoinConnect group - http://www.coinconnect.org/groups/profile/5908/glbse - please anyone else feel free to add relevant information about the GLBSE to the group. Also anyone else can also set up their own groups on there about their own company's/interests and add blog posts, bookmarks, pages, files and other stuff to the group which can be an open or closed group. You can sign into CoinConnect using your Facebook, Twitter, Google, OpenID logins or anonymously.
Quote
when in reality they could be 1 dividend payment away from bankruptcy.
This has actually happened.
MergedMining -
MergedMining was the first company to implement the MergedMining technique, and it paid off. They started with a low dividend, and built up a reservoir of funds for dividend payouts. Since then, dividends have been growing, and have more room to run. OgNasty has proved to be a great operator, and it shows in every facet of how the company is managed. With the share price holding steady for a long time, you know your dividends will keep working for you at MergedMining. Just like TyGrr above it, while there isn't much of a failure plan, there doesn't really seem to be a need for one any time soon.
MergedMining was the first company to implement the MergedMining technique, and it paid off. They started with a low dividend, and built up a reservoir of funds for dividend payouts. Since then, dividends have been growing, and have more room to run. OgNasty has proved to be a great operator, and it shows in every facet of how the company is managed. With the share price holding steady for a long time, you know your dividends will keep working for you at MergedMining. Just like TyGrr above it, while there isn't much of a failure plan, there doesn't really seem to be a need for one any time soon.
Thank you for the kind words about my company. I also appreciate the criticism regarding a failure plan. While I do have a plan in place for liquidating assets and returning funds to investors should the company fail, I have no plan in place if I were to be hit by a bus. I will begin working on a plan for this scenario immediately.
Back to your thread -
I think the differences in how companies are run makes a huge impact on your analysis. For example, some companies pay out 100% of their earnings and get a huge ROI number, while others are stockpiling reserves, buying back shares & investing in new hardware. That results in some operators building the value of their company, while others pay out all their profits in dividends and will eventually lose value due to rising difficulty. Personally, while dividends are important, they are only a part of the ROI. Just something to think about. I'm glad you rated MergedMining #2, but I wish it were based on actual ROI and not purely dividend payouts. Something tells me price appreciation shouldn't be ignored and it definitely shouldn't hurt the "yearly performance estimate" ROI number on your analysis due to using the current share price. You are in effect punishing well run companies and glorifying those with a falling share price. I think this could probably be remedied fairly easily if you were to set a time frame such as "last 60 days ROI" and showed the dividends + share price appreciation.
Perhaps another added metric showing ROI based off of the original IPO price would be useful as well and would show how well a company has been run, as opposed to how large they can get their negative cash flow before going under.
I'm glad you took the time to do this and I appreciate it. Just wanted to give you some feedback before you got too deep into your routine. I would love to see an accurate ROI number, but I feel you're not taking into account actual ROI and going simply off dividends. That will result in you rating the most poorly run companies with the highest negative cash flow as having the best ROI when in reality they could be 1 dividend payment away from bankruptcy.
As far as bias, your penalizing of BMMO for lowering their dividend with difficulty is a mistake and should be removed, but I don't see that as bias. The only bias I see is your bias towards companies that pay 100% of profits to investors through a dividend as that is the only metric you include in your ROI. You are penalizing those of us trying to grow the value of our company shares and rewarding those with the highest payouts, even though they may not be sustainable.
Now, before I spend too much time on improving the guide, I need address the problem with an being an owner of a company listed.
How well was my bias was removed? Did each company get a fair analysis so far, and if not was it because of a potential bias toward the company, or analysis metric issues?
How well was my bias was removed? Did each company get a fair analysis so far, and if not was it because of a potential bias toward the company, or analysis metric issues?
Yeah I'm happy with my review. Thanks for the thread as my attempt was rubbish because of my writing skills and it was hijacked by a promoter/fan of another company as it clearly highlighted the major differences between MH/s per BTC invested and MH/s per share purchased. Also yes I did rush in head first but now I'm offering much better profit predictions. Thanks.
Quote
How well was my bias was removed?
I think your analysis was biased, but not in the sense you suspect (swayed by your company ownership). It was biased by very specific and not necessarily universal assumptions you made. What teek pointed out about his shares tracking difficulty is very valid, for instance, I wouldn't expect his particular dividend to track the BTC/USD pair. Also the point about verbosity, an owner that spends a lot of time writing posts on the forum isn't either a silver bullet or necessarily a bad thing. Can pan out either way, and I don't see anyone holding the no BS approach against teek for instance.
Your idea to make a sort of mining ETF is still pretty good.
FWIW, this sort of debate is very useful & productive if nobody loses their temper.
It is FINISHED. For the moment. Should more mining companies come into the arena, or if information about a company changes, the list will change. For now, I'm going to stick to updating this weekly, and see where this takes us.
The CEO fee of 1BTC a month to buy back the company shares for the company doesn't come into affect until after the IPO has finished and we are operating at 2.5GH/s profits minus an estimated £35 for electricity.
BMMO -
In an earlier day, I would have rated BMMO much higher. Its CEO was, and still is active. It had great returns. It actually increased the rate at which it paid dividends out. Then performance started to wane. The reported hash rate started to drop. The thread became less active. Then the dividend dropped, hard. Since December BMMO's average dividend had dropped 34.9%, in a time where the value of the Bitcoin has risen 66% in the same time, and the all other mining companies have paid 69% higher dividends. Something doesn't seem right here, and the CEO doesn't seem to be saying anything is wrong. If anything changes, BMMO may get upgrade, but now, it's starting to look like it might stop paying a dividend all together, sooner rather than later.
Man - What is up with the FUD here? We are pretty much the oldest real asset on the GLBSE at this point, and pay one of if not _the_ most stable dividend on the whole damn GLBSE and you rate us dead last? I try to hang back and not get too involved in all the banter I have a lot of things on my mind in a day and don't have the mental capacity to spare to constantly engage here, but I do constantly monitor the forums and respond when there is something worth responding too. I said from the beginning we will be a no bullshit operation just going to run our mhash's and pay our dividends, nothing has changed, at all. Suggesting we are going to stop paying dividends?? If you took time time to actually understand the data you are presenting, you would see that BMMO dividend is tied DIRECTLY to difficulty at the moment, and both numbers which you are basing your analysis on are almost irrelevant.
"Bitcoin value has risen 66%." Against what? I am sorry, but we mine bitcoins, pay in bitcoins, do not care about any other currency, our operation has a mandate to provide a good return per mhash IN BITCOINS. What it's worth in greenback toilet paper?
"Since December BMMO's average dividend has dropped by 34.9%" You know, looking at the data your right.. it has dropped 35%. Wonder why that is? That awful BMMO CEO must be out to scam everyone, something doesn't add up!!
BREAKING NEWS - Bitcoin Difficulty Went Up - mhash worth less - Read all about it!!
difficulty went up about 35% in the same period An mhash now produces less Well, that scammer CEO must be behind this!The number I am interested in seeing your data on is other mining companies paying 69% higher dividends, have a link to some data on that? I own a big chunk of the other mining assets too, I see the dividends in my account. They make me wonder why I bother holding the stock at all in some cases. I want to see your numbers on this.
You pissed me off a little this morning, but i'm already over it. Your analysis doesn't even make any sense, and BMMO is on track big time contrary to the FUD you are distributing on the forums. I'm going to be doing some "analysis" of my own. Thanks for coming out.
teek
Quote
BTCSYS
It's SYN right? 
minor corrections:
MergedMining publicly trades ca 5500 shares out of the 10000
that might be important for anybody making calculations with hashes per stock ...
you can find out the exact number by dividends paid. the rest was issued but not sold and is for sale / not for sale depending if OgNasty collects capital for expansion or not. Last time I checked he had 60 btc reserves ready
BTCSYN founding members hold ca 5300 vs 6700 shares in IPO
MergedMining publicly trades ca 5500 shares out of the 10000
that might be important for anybody making calculations with hashes per stock ...
you can find out the exact number by dividends paid. the rest was issued but not sold and is for sale / not for sale depending if OgNasty collects capital for expansion or not. Last time I checked he had 60 btc reserves ready
BTCSYN founding members hold ca 5300 vs 6700 shares in IPO
It is FINISHED. For the moment. Should more mining companies come into the arena, or if information about a company changes, the list will change. For now, I'm going to stick to updating this weekly, and see where this takes us.
Good stuff.
You've got BTCSYN listed as BTCSY*S* in places. EDIT: in the 3rd message
Is it worth having a 90/30/14/7 day low/high share price as this can give an indication of the volatility of the share, particularly as they tend to change somewhat radically after a div payment. Or are the shares in this scenario too low to matter for anything other than 1-10 share traders?
marked
Heh, the first mining index.
Hmm...After this guide is completed, would anyone be interested my offering of an asset that trades all the mining companies?
It would be based on the findings of this guide so not every company would get an even investment. They would be traded based on risk and reward, vs a blanket buy of everything.
Basically a publicly traded portfolio.
It would be based on the findings of this guide so not every company would get an even investment. They would be traded based on risk and reward, vs a blanket buy of everything.
Basically a publicly traded portfolio.
Yes.
Yeah I've thought about an investment fund based on BTC mining companies but don't have the funds to set it up
The no repayment of initial capital doesn't make sense to me now that I'm fully awake again, so disregard that.
The power bill is payed by 500 out of 6000 shares held by the company for this purpose
Where was that stated? I must have missed it somewhere.
http://contract.fpgamining.com/about-us/
Quote
We operate a small mining cluster built entirely out of custom FPGA boards (available for sale on cablesaurus.com). 100% of all revenue is distributed to shareholders as weekly dividends. Operating costs (electricity, maintenance, etc.) are covered by the dividends paid to the 500 shares held by the company (amounts to 8.3% of the 6000 total shares). No revenue is held for future expansion.
The no repayment of initial capital doesn't make sense to me now that I'm fully awake again, so disregard that.
The power bill is payed by 500 out of 6000 shares held by the company for this purpose
You'd think so, but fizzisist has said that FPGA.contract dividends will be 100% of all revenue. There is no power bill to pay, no repayment of initial capital.
The capital doesn't need to be repaid. They didn't incur any debt to acquire the cards. The cards were purchased by selling shares. You don't repay equity, only debt.
However does anyone see a problem with no power?
I mean FPGA are efficient but not free. 7 * 20W = 140W that's 1200 kWh annually. Not sure the power costs where FPGA are located but lets say it is $0.10. That's $120. Sure not a huge sum but what if someday they expand from 7 boards to 30 boards. Now you are talking $600 per year. Say they have an effective life of 3 years = $1800. The owner/operator is going to eat $1800 for the privelidge of making other people money?
Sorry things like that create a redflag for me. Paying 100% of revenue as a dividend AFTER COST (electricity, repairs, reasonable compensation for time) is reasonable. Paying >100% net revenue doesn't quite seem sustainable.
great thread.
You'd think so, but fizzisist has said that FPGA.contract dividends will be 100% of all revenue. There is no power bill to pay, no repayment of initial capital.
The problem here, which I'll have to readdress with everyone, because I just realized it, is that the company is over valued.
The 7 FGPAs it owns are worth 840 BTC, but the company is worth 2191.2 BTC. It's significantly overvalued compared to its assets. The value per share is inflated 260% above actual value of the company...most people would call that a bubble, but I digress. I'm going to finish this first before I start actually giving recommendations about any company, or for any investment style.
There is no power bill, so it will never be unprofitable. I'm not sure what you mean by no repayment of initial capital.
I agree it's possibly overvalued. However, many companies regularly trade on multiple of their asset backing. This can still make since if there is expectation of above average return on assets. Also, since fizzisist is paying the power bill, you can pay slightly more for the assets and still be better off than buying a rig yourself. Also, what value do you place on the time put in by the manager of the rig? In the case of FPGA.contract, however, the liquidation clause is a risk to consider when buying for prices far above net asset backing.
I've edited the first post of the other thread to include that I am the CEO of RSM
Good to see.
Overall well done. It's a mammoth task to attempt. I have thought of doing a similar analysis in the past, but never got around to it.
Good on you for declaring your conflict of interest up front! I thought it remiss of the OP in the other thread not to state his interest in his thread.
I think this lower ROI reflects similar considerations one would have in investing directly in his own mining set up. FPGA technology involves greater upfront capital costs, but lower operating costs. Thus, ROI is likely to be lower initially, but mining is still profitable at lower BTC price or higher difficulty levels than GPU technology.
How this difference pans out and which makes the better investment depends on what the future of bitcoin price and difficulty holds and so makes a simple comparison difficult without also accounting for ongoing costs and making certain assumptions.
Let me preface this by saying that I am not a completely unbiased party. I own one of the companies listed in the outlook below; however, I have tried, and, I believe, succeeded at presenting an unbiased viewpoint.
Good on you for declaring your conflict of interest up front! I thought it remiss of the OP in the other thread not to state his interest in his thread.
FPGA.contract
[...]
Worrying - While dividends have grown, the yearly estimated ROI is somewhat lower compared to other companies, but not by a significant margin.
[...]
Worrying - While dividends have grown, the yearly estimated ROI is somewhat lower compared to other companies, but not by a significant margin.
I think this lower ROI reflects similar considerations one would have in investing directly in his own mining set up. FPGA technology involves greater upfront capital costs, but lower operating costs. Thus, ROI is likely to be lower initially, but mining is still profitable at lower BTC price or higher difficulty levels than GPU technology.
How this difference pans out and which makes the better investment depends on what the future of bitcoin price and difficulty holds and so makes a simple comparison difficult without also accounting for ongoing costs and making certain assumptions.
I've edited the first post of the other thread to include that I am the CEO of RSM
Overall well done. It's a mammoth task to attempt. I have thought of doing a similar analysis in the past, but never got around to it.
Good on you for declaring your conflict of interest up front! I thought it remiss of the OP in the other thread not to state his interest in his thread.
I think this lower ROI reflects similar considerations one would have in investing directly in his own mining set up. FPGA technology involves greater upfront capital costs, but lower operating costs. Thus, ROI is likely to be lower initially, but mining is still profitable at lower BTC price or higher difficulty levels than GPU technology.
How this difference pans out and which makes the better investment depends on what the future of bitcoin price and difficulty holds and so makes a simple comparison difficult without also accounting for ongoing costs and making certain assumptions.
Let me preface this by saying that I am not a completely unbiased party. I own one of the companies listed in the outlook below; however, I have tried, and, I believe, succeeded at presenting an unbiased viewpoint.
Good on you for declaring your conflict of interest up front! I thought it remiss of the OP in the other thread not to state his interest in his thread.
FPGA.contract
[...]
Worrying - While dividends have grown, the yearly estimated ROI is somewhat lower compared to other companies, but not by a significant margin.
[...]
Worrying - While dividends have grown, the yearly estimated ROI is somewhat lower compared to other companies, but not by a significant margin.
I think this lower ROI reflects similar considerations one would have in investing directly in his own mining set up. FPGA technology involves greater upfront capital costs, but lower operating costs. Thus, ROI is likely to be lower initially, but mining is still profitable at lower BTC price or higher difficulty levels than GPU technology.
How this difference pans out and which makes the better investment depends on what the future of bitcoin price and difficulty holds and so makes a simple comparison difficult without also accounting for ongoing costs and making certain assumptions.
Interesting and good summaries. There has been some interesting "cross business" discussion on the forum that I've seen, so having some key metrics extracted is nice.
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