Topic: [CentiMine] Anonymous mini-mining contracts on GLBSE (CM400) - Final payout! (Read 11262 times)

Have a look at glibse, the python glbse client library, it's quite easy to use, we now have direct account to account transfers for bitcoin(again with glibse not webclient ATM), you'd certainly be able to use it as a pool payment service.

I agree, I also did not make a profit compared to buying bitcoins directly at that time (which would have returned ~100 BTC instead of 44.42 - my final gain is a bit higher due to the fact that shares were also not paid the full amount they were sold for as you can calculate)

Yes, the whole thing was rather designed to test out GLBSE, allow people to calculate their risks and do a proper assessment of their investments and also to allow them to easily get in. The 1 BTC/share that others asked for virtually NOTHING guaranteed or calculable was always something that I disliked.

I myself yould probably have come to the same conclusion as you (not profitable) - maybe not right from the beginning on , but after the first few unfortunate difficulty increases.

I however also wanted to make sure that my shareholders will NOT loose a big part of their investment, even after it looked quite clear to me, that this is going to end up in a loss - IMHO it's ok if you invest a few bucks in something risky to also loose some of them - it would however not have been fair of me to sell the shares at 1 Bitcent but not offer this 250 BTC refund because then I would have ended up WAY ahead of everyone else and nearly doubled my outcome just by selling these 10% of the IPO. I could have done more advertisement in hindsight though...

I already have a few ideas how to use GLBSE as a pool payment processor and this is also something that would require far less weekly attention + maintenance (don't underestimate this!), maybe you'll hear from me in the future and I'll really claim my ticker symbol (when the share was issued, you couldn't issue subtickers).

I think the problem was that if anyone did the maths, they could see from the start that the contract would be unprofitable. I know I was very excited about this share in the beginning until I did some calculations about the expected payout. Maybe you were unlucky with your timing coinciding near the spike in the BTC price after you had "cashed out" your bitcoin to buy the contract with the provider. Plus, the large increase in difficulty certainly didn't help your cause.

Even in USD, I think the contract would have been unprofitable. I'm not sure what you paid for the contract. $840 was mentioned by one poster earlier in the thread. The total generation for the 3 months according to your spreadsheet was 44.42 BTC. The 30 day VWAP for bitcoin is around US$10 (not sure if the 90 d value would be much higher), so if you sold them as you earned them, you would have made about $444, which is a loss of about $400. In contrast, $840 on May 18 could have bought 118 BTC at $7.19, which would now be worth $1062 at an exchange rate of $9/BTC.

That said, it was good to watch a pioneer in action while GLBSE was still forming and future traders and promoters can learn some valuable lessons from this experience.

Enjoy a break! But you have built up some trust and gained some experience that I think you could capitalise on in a future venture, should you choose to do so, so I do hope you'll be back some time.

I could start it again with a new contract, but right now I don't have the time nor the motivation. This contract here is over, as it was stated from the beginning on in the contract itself.

After all ~10% of the IPO was sold (I still have 36102 out of 40k shares) but I'm unsure what the reason for this is/was and if this is good or bad. The price surely wasn't as attractive as it could have been, GLBSE was in the beginning also only accessible via command line tools (now there's a great webtool, check it out!) and I also did not really advertise a lot (if at all).

At least I can say that I tried to be as transparent as possible, when taking a look at other GLBSE "companies" I'm sure there's a little bit of my influence there, as many at least provide a balance sheet now for example.

As your shares are now worthless, they only have collectible value.
I'd really love to just be able to destroy them, but that's up to Nefario I think - and maybe someone even wants to keep them for whatever reason?

Maybe I'll set up some other things (creating a fund for bot trading or GLBSE trading would be very interesting!) in the future or some options where people can sell their mining power (mine a mining share and receive a fixed amount of BTC on GLBSE for this, similar to PPS - but with "laundered" Bitcoins directly on GLBSE using them as payment processor).

So long, and thanks for all the fish!

I could probably add this functionality.

The problem is not with adding it to the server, the difficulty is changing the user interface for the web client or the python client libraries.

In fact, I see I am now the owner of 3 shares, after one of my outstanding orders in the orderbook got filled after the dividend was paid out.

Nefario, can an asset holder issue a command to clear all orders before an event that materially effects the value of an asset (like what happens on real stock exchanges)?

I don't know about that. I see some for sale now for 0.01 bitcents and I'm prepared to bet a bitcent that someone will come along an buy them, seeing they are a bargain after the share price falling 99%.

so did the dividend payout yet? Thats the big question.

thanks thats what I thought. 

Anyone who wants to buy them, but I couldn't imagine anyone dumb enough to do that since they would be worthless. And I think the ability to read, write, user computers, the internet, and to have even heard about what bitcoin is, never mind a stock market that trades only using bitcoin eliminates that possibility.

Sorry, I don't mean to be snarky but I've just discovered the Archer TV series and have watched an episode, its so good.

Is centimine over after this or are you starting again? If I bought shares and its over who would I sell them to after I get the dividend? 

well, lets see what happens when I buy 500 shares then.

There won't be any issues, I've done enough testing with this basy that I can get FDA approval(fingers crossed), but don't worry as centimine said any issues and I'll be all over it.

On a slightly related note, I could like to thank centimine for the work that was put into this share and for being one of the early adopters of the exchange, I think that at the time it was a bold step to take.

Nefario

No, you'll all be scammed, muhahahahahaha! 

Just kidding, yes, tomorrow I'll wrap the whole thing up and pay out the remaining 281.06 + 1.32 = 282.38 BTC to the shareholders.
If you want a part of this dividend, you better hurry and BUY BUY BUY.


Hopefully everything works out as planned, as Nefario seems to re-do big parts of GLBSE currently, but I'm confident that any issues can be resolved as quickly as in the past.

I thought the same and wondered if I had missed something.

Maybe Centimine is buying back?

I can't believe people are still buying this for 1 bitcent when the mining contract is about to/has already expired. Do any holders want to lend me some some stock for a short? I'll pay 1% interest per month plus dividends on them.

Well the owner has just added their information to http://companies.herokuapp.com  http://companies.herokuapp.com/company/14

Is this operation still goin on?

On a related note, the web client now shows what assets dividend payments are from.

Nefario.

When will be the next "big" payount?