Topic: [Cryptostocks] Bitbond 200Gh/s 105% PPS mining bond - Relaunched - page 10. (Read 38713 times)

What, proof-of-stake? There have been many protocol changes proposed, which are you referring to?

One more thing....

Since my hardware is paid for and I pay a fair bit less than 3 cents per kw/h, ASICs won't dramatically improve my operational profitability.  What it will do is allow for less expensive expansion, which may be needed if difficulty increases.  Thus, I plan to invest in some ASICs as a hedge.  Given the real risk of a protocol change (which would render any ASICs completely useless), I will wade into ASICs carefully.  If there is no protocol change I will likely increase the payouts for bondholders or offer an upgrade to a new class of bonds when ASICs arrive

Weekly payout paid, a total of 431.84 btc, which at the latest trades is almost $2800! 

While I have been hugely expanding my hashing power, there has been some interesting volatility in the market.

First, we've seen Bitcoin prices by a good 25%.

Second, bond prices (not just Bitbond) have been fluctuating and been down about 15-20%.  Part of this has been driven by FUD circulating around in chat rooms about the value of bonds in general.  In my view this is creating a huge opportunity for someone to snag a bunch of bonds on the cheap.

Until we get a bit more stability in the market, I will likely only make a very small expanded bond offering to the public.  I would rather not feed irrational selling.

Meanwhile, 110% PPS will continue, meaning all bondholders are getting effectively 2.2mh/s per bond.  Enjoy your bigger payouts!

Large investors have asked for a couple more days.  Thus, the offering is now scheduled for Friday

Update

This week was paid out at 110% PPS.  Today was our biggest payout yet:  423.98 btc!     Enjoy!

Hi everyone-

I have been having trouble with my GLBSE account since Friday.  Thus far, Nefario and team have not resolved it yet.  Until it is resolved I cannot pay a coupon payment or sell bonds.  I'll keep you posted on progress.

Fixed!

I will be send out coupon payments shortly

Can you disclose share price for public sale?

The response to my expanded offering has been wonderful! 

In speaking with a few prospective investors, they would like more time to prepare their investment.  Thus, I will be moving the offering date to June 13th, next Wednesday.

If you need to make an investment before this weekend's payout, please let me know and we will see if we can work something out.

My philosophy is to set realistic goals and then strive to exceed those goals.  With the new hashing power, I hope to be able to extend the 110% PPS indefinitely and possibly offer more as I increase my efficiency.  I don't want to commit to that until I have everything up and running and it's working as efficiently as I plan.  At a minimum, the new hashing power will allow ensure that I have plenty of surplus hashing power to handle any issues that may come up.

No problem, just don't buy too hastily everything you see with all your money, or you will learn the hard way

Thank you guys for instructing noob in Bitcoin stocks stuff

You may buy and sell shares/bonds there even now. On Friday he will put additional 30k bonds for sale. Currently price there is around 0.6 (just check asks and bids): https://glbse.com/asset/view/BITBOND

Yes, I registered at GLBSE and have my BTC's ready on account. How to subscribe motion? (I'm under 400 BTC investor

Quite interested. How to register to get your upcoming shares offer?

uff, this is huge.  Will that need a lot of maintenance? At what price will you be selling those additional bonds?
Best of luck

Thanks Garr!

I will definitely add more pictures as I set up the new rigs.

Although I'm not in the financial position to pull something like this expansion off, I'm really glad to see that you are!

Best of luck with the new facility, and I'm sure everyone else would like to see pictures of its progressing setup as well

Major announcements!

I have alluded to some things in the works and now feel that I can reveal to you what I've been working on.

1) New Facility
Last weekend I started the setup of a new facility in Central Washington.  Although it is a bit remote, it has the advantage of very inexpensive power (as in 3 cents/kWh) from nearby hydroelectric dams.  I will be upgrading cooling and adding lots of amps of 480v power that will be connected to a proprietary power supply configuration.  Not only will the new facility allow for major expansion, the cheap power will be another way in which I can ensure that I'll be able to make weekly payouts for years to come, through thick and thin.

2) Huge expansion of hashing power
I believe is it very risky to invest in any bond where the operator does not already have all the equipment he will be mining with, or at least it has been purchased and its arrival and setup is imminent.  Now I can reveal to you that I have purchased 480 Radeon 5850 GPUs, which will add 175 Gh/s.  The first batch of 240 cards will arrive on June 12, less than a week from now.  The second 240 will arrive the following week.  That will bring my total hash power to just under 300 Gh/s.  Here are some pictures for you of the cards readied for shipment:








3) Bitbond Expands to 150Gh/s
With the new hashing power I will be expanding Bitbonds to 150Gh/s.  Starting Friday morning, June 8, I will offer an additional 32,500 bonds for a total of 65Gh/s in new bonds.  Discounts will be offered to investors buying 400 btc or more of bonds.  PM me if you are thinking of a large investment.  All new shareholders will receive a full week's payout on Saturday evening (provided you buy your bonds before the payout).

4) 110% PPS is back!
As a thank you for those who have invested with me, and as a small incentive for new investors to consider Bitbonds, I will be offering 110% PPS for the next four weeks.  If I can meet efficiency targets that I have set for myself, I will likely extend the 110% payout beyond June.

5) Bitbonds and Loans
I have started to work with Nefario on a new way to use Bitbonds.  Soon you will be able to use Bitbonds as collateral for loans via GLBSE.  For example, if you hold Bitbonds but would like to get a loan from someone, you can use your Bitbonds as collateral.  This will reduce the risk for lenders and give borrowers a way to leverage their investment to secure loans, and do so at a better rate.  Details are still being worked out, but expect more info soon.

 Yup, they are.  I've fixed them.  Thanks!