Topic: Diablo Mining Company - page 32. (Read 96370 times)

Happy Dividend Day!

Shares sold to date: 20909
Dividends paid out today: 0.0 BTC
Dividends per share paid out today: 0.0 BTC
Uninvested: 0.906 BTC

Dividends paid out for all time: 80.38743369 BTC
Dividends paid out for all time per share: 0.0263581563171353 BTC

Shares held total:
40 BTC-MINING (370 mhash) = 38.80 BTC (14800 mhash)
951 BTCMC (7 mhash) = 551.58 BTC (6657 mhash)
5113 OBSI.ABMO (11 mhash) = 434.61 BTC (56243 mhash)
2080 ASICMINER (30 mhash) = 228.17 BTC (62400 mhash)

Total investments: 1253.16 BTC
Total hashing power: 140100 mhash
Approximately 6.700 mhash per share

Announcements:
"Bonds for DMC" now requires 100 mhash per share of DMC. The bond trading chart is available at http://caspar.adterrasperaspera.com/dmc/trade/

There has been a 2.3x increase of mhash per share and a 16x increase of total mhash since last month.

The motion to suspend dividend payouts for 3 months was passed. Unless another motion is passed to continue the suspension of dividends, the next dividend payment will be December 1st for the month of November.

The contract does not say it is a mining company, it only structures the pay out of profits as dividends. Currently, all of our profits are from our investments in other GLBSE assets, this will not be true in the future.

As for BTCMC, lemme go write the report.

From here:
https://glbse.com/vote/view/104

9167 shares voted on that motion.

I dont think that you have control over the price directly. I only say that the height of the dividend has an influence to the price.

I now read the asicminer thread. If you own some of them i think you should hold it until they succeed. They sound like they are legit.

But now... when you say only 2500BTC were invested... and P4man says you sold 9167 shares (i dont know where he has the info from) that means you sold shares for a lot less than the inital price. Thats not fair and would really drop the price. I wondered who today would sell for 0.035BTC... you werent this are you?

By the way... the contract at GLBSE is saying DMC is a mining company. So i wonder why its not now. I guess you wanted to invest first until you have the amount of money needed to build your center but didnt think about that your investments could bring in so few money that the dividends will lower the price per share. But i think you should have explain this instead claiming its a mining company.

BTCMC paid now.

Yet judging by the vote count of your latest motion, you sold or swapped 9167 shares that you valued at 1BTC. What happened to the other 6667 BTC or BTC equivalents?


Actually, even assuming your current asset valuation is correct, which I highly doubt, you made 86% of your share holder value vanish. Those people bought shares at 1 BTC, and now you have 0.14 BTC worth of assets per share. Well done Diablo! No single mining bond did nearly that bad, and as eskimobob pointed out, even pirate debt is still worth a lot more than 15 cents on the dollar.

How on earth did you fuck this up so bad ?

The contract says otherwise. Besides, you have proven to be utterly incapable of investing. Do you shareholders one favor, sell whatever you still have. Pay it out as dividend and close shop. If you must, start over again, but in 3 months, your 1274BTC assets will have halved in value again, I guarantee it.


And yet you keep investing in these turds.

"The definition of insanity is doing the same thing over and over and expecting different results. "

Rougly 2500 BTC have been invested. The assets are worth roughly half that now.

DMC is not a mining fund or a mining bond, it is a long term investment project. Individual mhash are now worth about 0.003 BTC each, where they were worth about 0.35 when I started DMC. That is a 116x drop in value. DMC has not dropped 116x in share price, it has only dropped about 15x.

Now, either you go the p4man/eskimobob route and claim either I have control over GLBSE pricing of other people's assets (which I don't, and that would be absurd), or you can accept that I'm trying to make the best of a bad situation. This is a short term problem, and this does not effect DMC's long term plans.

No, I didn't say withhold information, I said recycle dividends.

The information is still going to released on the original dividend cycle: not until BTCMC pays on the first. BTCMC pays once a month and happens to pay on the same day I pay.

The chatlog doesnt mean that today no dividend is paid does it???

One month you paid for 4066 shares. Which means that these shares should have bought for around 4066BTC once. And when i look at pyramining, which is a real and only mining-investingproject, it has a break even at 10 months. That means, when investing the money into mining only it could make a break even at 10 months.

Reading the initial share-price of DMC of 1BTC compared with the average dividend of 0.008786046 in the last 3 months, the break even with the investments you made is at only 113.81months, or 9.48years. Not impressive as a investment.

And the 10 months seems to be a good value to check how good a mining project is. With the current price of your share at 0.068BTC you arent really bad with break even for new investors. But still... the investors need to trust that it works at least for the actual shareprice. And if you want to go back to 1BTC it would need way better dividends in the future. And if you can achieve that? At least not with green energy that has a break even after years only. I mean otherwise other projects are worthier to invest for investors.

Anyway... you got at least 4066BTC Investment. Thats the highest amount of shares in a month you paid dividends for. Thats around $40.660. And that should be enough to build a nice mining rig. So what did you do exactly with the money? Did you only invest it into other miningbonds like asicminer and so on? I mean asicminer doesnt give dividend yet. Maybe they will someday. But wheres the rest of the BTC? I mean it should have been way enough money to buy good mining hardware. So i wonder why it looks to me that you only invested in other shares. And one of the shares even wont pay in months.

I doubt that you will sell any more shares for 1BTC. For that the price dropped way too low. So the only question is what will you do with the money still available. Is it all spent already into hardware or bonds that can be sold again? Or what is it? I think you only will have the chance to handle with the money that you have now because the low dividend from the start dropped the trust of shareholders too much. So whats you strategy now?

I doubt you are a scammer. You created free software for others which leads me to think of you of a good guy. Only your investment skills seems not to be the best.

I didnt miss anything. There is no mention of withholding information:
https://glbse.com/vote/view/104

As for the 2000 1275 BTC assets. You misspoke? ROFL.  Just like you misspoke when you thought your stock price was 10x higher than it really was?

BTW,  there is nothing panic about current mining bond prices, most of them are if anything, still way overvalued. Your failure to understand that is what caused this trainwreck in the first place, it seems you still dont get it.

Looking forward to seeing the actual numbers though;  can we trust you will take market depth in to account and not pretend you can sell everything at highest ask price?

You missed it.

As for the numbers, the report is coming out later today. I misspoke, it should be about 1275 at current market panic prices.

I dont remember seeing a motion passed to stop publishing basic financial information. Did I miss it?
As for the "almost 2000 BTC worth of assets", show us the numbers.

DMC holds almost 2000 BTC worth of assets. Whats your point?

You missed the motion that was passed on this issue?

Diablo, you received 1000's of bitcoins from your investors. If you are not going to say what you have done with them, what you still own and how those investors are ever going to see anything back, then its time to file for a scammer tag for you.

WTF?

Let me fix that for you:



Seriously?
How did you manage to lose over 90% in the almost stand still turd market (losses in few % range) where the worst losers managed to drop only 45% (and you do not own PPT!) is just fkn "amazing".
You have what, 3-5 months to be ready with your planets biggest farm? Do you realize, you do not have hardware for this? Not now and not in 5 months. Even if BFL imaginary ASIC's materialize in this universe, you are at the back of the line - pocket empty.
If someone else builds a working ASIC, you have no coin to buy it. You have pissed it all away.
 
Your idiotic "green" power plant is absolutely retarded because of the tiny amount of energy ASIC's use. It made sense for buildings full of GPU's but not for a tine rack of ASIC's.
I am not even going to comment on you DC idea.
You are obviously not capable of doing simple cost, revenue, profit etc calculations.

I ask once more - how did you waste all that coin?

I hate to break it to you, but thats sorta how business investments work. There is no overnight get quick rich quick scheme, you can only get rich slowly.

Look at Bitcoinica, a get rich quick scheme, it imploded and the owner ran off with 50k BTC (worth a quarter of a million at the time, prices have gone up since then). Now, look at Pirate, he ran off with 40k BTC worth almost half a million at today's prices.

Now look at me, now look back at Pirate. Pirate isn't me, but with Old Spice he could be a real investment like me. Quick, hes doing that thing people hate, now look back at me: I'm on a horse.

Reality check; Diablo talks of investing $250K for energy supply alone, the datacenter he dreams of costs many times more.   If he sold all his company's assets, he could not even raise 1000BTC anymore, and by the time he will pay your next dividend, probably not half that. No one is going to be insane enough to purchase new shares at 1BTC either when they are being sold for 0.05.  Where will the money come from?

One  might debate whether Diablo is just the most incompetent bitcoin CEO ever, a scammer,  or if he is delusional,  but if you are going to take this serious, I got a bridge to sell. If it helps, I will convert the bridge in to in MH for valuation.

Hm... i really read it as like it is a normal mining share. And when i now read investing in green energy... of course green energy is a thing to cut powercosts... but the investment will be back after years only. As far as i read mining alone will get the investment back in around 10 months. Green Energy make sense because you save power costs. But until these saved costs are as high as the investment it takes years. So no good investment in my opinion. But anyway... the price is very low for the share... i think it resembles the value. Lets see how the dividend behaves. One more reason to wait until jumping into a share.

The section you quoted about the hardware: DMC is pursuing technology that gives the best performance per dollar: our largest holding is in ASICMINER, the rest of our holdings are upgrading their BFL hardware to SC singles and rigs. We may not host any of it ourselves yet, but it does not negate the existence of the investments.

Potential investors are lead to believe that DMC will complete the plan. DMC will complete the plan. Due to the unfortunately slow pace of the market post-Bitcoinica, most of the funding that DMC would have received is gone, and it most likely will never return to the market. If I was incompetent as you seem to claim, I would not be pursuing future plans after the first generation build out, nor would I be pursuing alternate ways of completing the plan as written.

Green power is a future revenue stream. You seem to think once we install a quarter of a million dollars worth of solar panels and/or wind turbines, we're done? Nope. We keep building. Same with the data center: back when the plan was written, being the biggest single miner in the world would take half a dozen to a dozen racks full of gear, but now it only takes one. Our small data center would have at least two or three dozen racks, the rest of them will obviously be leased out for high density computing customers, thus also becoming a future revenue stream.

Because ASIC is now a real thing, mining itself is quickly becoming far less profitable than it was when the plan was originally drawn up. Mining is still important to the plan, but the plan was always three pronged; the other two prongs are just now much more prominent than they originally were.

I will continue to do everything in my power to maintain shareholder value in DMC.