Topic: [CryptoStocks] ::GREEN:: GreenBTC - Making the Bitcoin Green - page 2. (Read 8802 times)

Couple of updates

I submitted the email address and payout address to GLBSE so hopefully we can get a list of shareholders to pay out dividends too.

We had alot of problems with mining rig 2 crashing, I think its had more down time and uptime this week.Its not a bad drive so thats the good part,
I'm working remotely to try to get it working again and will keep you guys updated. -Fixed 10/12/2012

I'm moving the domain and website to another company. So the website will be down for a little bit and most likely email will be down for a little bit also.
I'll keep updated with the process.

You can contact me via forum PM, if needed. I login here every day so there is a good chance i'll see your message the same day.

Mining Income 2.78 with .11BTC coming from ALT coins

Shareholder dividends are place in a address till we have a shareholder address to payout.

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Escrow
Oct 7- .83 BTC - 12GTEybN35EcRiGzX68VCcwncydFTW2QVy

Well with the closing of GLBSE, we are currently homeless.

We could relist on cryptostocks,this would help the market value of the shares since being off-exchange makes them 1/10 of the value of them.
This would take around 1/5 of our current Cash reserves

Our NAV appears to be around ~.15-.20BTC.

Until we get our shareholder "Codes" we won't be able to vote on anything.

Other Options are sell off one of the mining rigs, to relist on cryptostocks if we don't want to use cash reserves.

Other options default the company and do a final dividend of the proceeds(As of right now, this doesn't appear to be the best option because was are still making BTC)

Other Options I can start to do a buyback of shares using the my personal dividends(This would be slow, and the price would be ~10% below nav. But would be a good option for people wanting to get out)

Since there is no chance that we are going to have a dividend payment sunday, I will put in a public address the bitcoins for sundays dividend Oct 7. (12GTEybN35EcRiGzX68VCcwncydFTW2QVy)

I will continue to honor and follow our bylaws to 100%. Because trust is the only thing that is going to get us thru this.

Please leave a comment

  

P.S.
Since I'm US Based, and I'm verified by GLBSE. There is a small chance that I could face Unregulated Securities Charges. I will not be leaving the Bitcoin community anytime soon by choice.
I'm a very small fry on the list, and have no exposure to Pirate in any way. But there are members here that have my offline information, to verify my status.

Well with the Downtime associated with GLBSE or possible closure.

Once I have a way to verify ownership of shares, I will do one of two things.

Convert your Shares to another Exchange(CryptoStocks)
Or I will issue you a Paper Stock cert that will have a payment address, and private key for only shipping cost.

The only reason I could see a shutdown like this is hack that was found in GLBSE or the Host needed to be moved for a emergency reason.
Any other reason, is unacceptable.


If dividend payment can not be made this sunday, I will create a new escrow address for dividend payments. Until share holder records can be identified.

Motion 150 Passed
Due to Motion 150 today's payout will be higher than normal.

Mining Payout 3.14 BTC including .14 Alt Coin
Dividend Payout 1.256+.6 from last week
Growth Fund 1.57 BTC
Operating Fund .314

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Dividend Payout is on its way should be paid in ~ 1 hr.

Sorry about the late payment, you can blame it on dexter 

Motion 149 Passed.

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Motion 150 (24 hours to vote)

Change the dividend payout from waiting 7 days, to paying out the same day Sunday.

Motion 149

Allow RandomQ to Defer his shares back to the company, but retain the voting rights of those shares.

24hr Motion to vote

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This will allow me to no longer get paid a dividend for shares, but still allow me to vote on motions with those shares.

That is why it is so sad, that the exchanges refused to cooperate (at least until now ). Otherwise the risk of failure in a network of exchanges would have been lower for the whole system and would have created a environment of more mobile assetflow...I would highly encourage you to expand to other exchanges, to support them and to somehow signal them, that you want the advantages of a network. I'm still optimistic and support GLBSE but will also consider CS

cryptostocks

I want to try and hold on as long as possible on GLBSE, because right now all these problems haven't effected our little company.

It just doesn't feel like GLBSE is conducive to do business right now given there current climate there.

But please everyone give me your input also.

If any shareholder wants me to put a motion to vote and Delist "GREEN" and switch exchanges, Let me know via PM or Email

Weekly Update

2.89 BTC mined this week with .08 coming from Alt Coins

1.156 Going to Dividend Fund
1.445 Going to Growth Fund
 .289 Going To Operating Fund

Dividend payment is on the way, its a little be slow to confirm tonight

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We had a good week so far, had a small power failure that rebooted 3 mining rigs but everything seems good now.

The IPO has been completed successfully and all shares have been sold on the open market.

Mining Rig #1 has been repaired with a new power supply and it now running at 100% again.

Mining Rig #6 is almost completely sold, for an upgrade to mining rig #1

The Motherboard I'm going to put up for sale on the forum, I'm going to set the auction for 7 days.
I'm also going to publicly bid for it, to possible purchase it.

There was a accidental sweeping of coins on the wallet, multiple account balances merged.
When these funds merged it mixed a personal account, to correct this error from happening again, I'm going to export my address to another wallet.
Funds should never co-mingle.

Most likely an updated contract in the next few weeks, so that we can shift the bylaws into the Contract. That way it will be more clean and everything will be in stone.

Weekly Update

This week we mined 1.48 BTC and .28 Alt Coins (We did mine .51 also but it hasn't cleared the 120 conf required to withdraw it.

.592 BTC will go to the dividend fund
.74   BTC will go to the growth Fund
.148 BTC will go to the Operating Fund
Per our current contract .28 Alt coins will go towards Operating Fund.

We had a really bad week, PS dying, random down time, bad pool luck.

But we do have .51 from this week going on next weeks totals.

I will test PPS pools this week to see if we can't get a more steady rate of return.

Please be aware that the dividend payment was paid early this week. Because we hold he dividend for 1 week.

New Motion Up to authorize a Purchase of a replacement power supply for Mining Rig #1
(Still at 66% hash rate)

I bought 2 Powers supply 1 main and 1 Aux for cards. I'm not happy with the output and are going to switch  to another option.
I'm going to return the 2 Power supply when I find a better deal or Higher wattage supplies or go to a 3 Power Supply Setup.
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In the process of Selling Mining Rig 6, to upgrade the hash rate of Rig 1.. I'm doing a zero cost upgrade, increasing hash rate of Mining Rig #1

Mining Rig 1 is @ 66% Mining Power now, and I'm testing 2 new power supplies to make sure they can handle the watts.
I kinda screwed up with the mining rig #1 setup, I was running the powersupply at a too high percent of capacity.

I'm attempting to warranty the Power Supply.

The Rig should be back at full power tomorrow.

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Also I'm attempting to consolidate our 6 Mining Rigs down to 1 or 2 Mining Rigs with the same hash rate or higher for Zero Cost 

I also think i can do this with Zero very little down time to the Hashing Rate.

I will keep you updated on the status.

The Dividend Payment has gone out early (Today)

We had a power supply go out in Mining Rig #1(Rig 1 has 50% of our Mining Power) Last night heard it POP.

Took the power supply out of Mining Rig #6

Mining Rig #1 is currently Running at 33% Mining Power.
Until I can get a replacement Power Supply.

Two New Motions to vote on (7 Day time limit)

Motion 130
"This motion will change the bylaws of the company to direct Alt Coins towards mining profit instead of going towards Operating Costs"


Motion 131
"This Motion allows RandomQ to purchase shares and Sell Shares with the express purpose of offering pass thru bonds on other exchanges in alt coins for this company"

This is to allow me to Purchase and sell shares on GLBSE and offer Bonds for those shares on other exchanges that offer Alt coin purchases.

All is good over here, our rigs are running great. There may be some very small down time this coming week, due to moving Rig #1 into a better location that is vented better for the heat output. We are currently holding Bitcoins again because it appears that the price has stabilized. If the market starts going up 5% a day again we will resume converting to USD. We are very healthy regarding our cash holdings to prepare for the coming Block reward halving and Pending Super Duper Java Coffee Heater Products. In my option we are in a better position when someones starts to ship a new product. I will gladly pay a premium to get a released product vs vaporware  . We have recalled 9000 Shares today, and put all remaining shares up for sale.

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We mined 2.83 BTC this week.

1.13 BTC Going to dividend to be paid next week
1.41 BTC Going to Growth Fund
 .28 BTC Going to Operating Fund

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Any questions please ask

This week was a much better week than the last two.We have 100% uptime the entire week, mainly due to some software changes I made the week before I suspect.
We also dumped p2pool due to its wild swings in luck, one week its 130% this week its at 76.7% luck. It was playing too much havoc on our dividends.
We are very cash heavy right now, due to waiting to see what happens with BFL in OCT and the Reward Halving.

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We mined 3.23 BTC this week.
1.29 BTC Going to dividend to be paid next week
1.61 BTC Going to Growth Fund
 .32 BTC Going to Operating Fund
 

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Motion 111 Passed By 82%
I will email GLBSE to reduce our share number tonight and put the remaining shares up for sale.