Topic: Diablo Mining Company - page 34. (Read 96370 times)

Its not full, and I don't think its even a month.

Copy paste from GLBSE: "Get your full account history as a CSV"

Traded for what exactly? Remember, you yourself still value those shares at 1 BTC each, you recommended people buy more of your shares when they were trading for 0.5BTC;  so surely you didnt trade them for something worth only 1/10th of that. So what did shareholders get in return for all the unsold shares you handed out ?

Also you never responded to this simple question: how much is in your "growth fund" ?

AFAIK they don't exist. GLBSE does not contain such data long term.

Very few (less than 100) of these shares were ever purchased at 1 BTC. Most were traded for.

I think I am not the only one who likes to see the complete trading log from day one.
Mask IPO participant account names (except your own) and maybe get it PGP signed by nefario.
Lets do a little audit and see, what has actually happened and how did you manage to lose all this BTC (or not).
If everything looks OK, this will keep all the needless shit slinging at bay.

When are you going to publish the DMC trading logs?

How did it not? Have you been selling shares publicly at 1BTC while privately selling or trading them for far less? That alone should earn you a scammer tag. For all we know you sold yourself 20000 shares at 0 BTC, effectively robbing your investors. So what exactly did you get for all those shares, those same shares early investors had to buy at 1 BTC?

BTW, in June you boasted you had sold 2000 shares and barely over a month ago your published assets had a market value of ~2100 BTC:
https://bitcointalksearch.org/topic/m.1003959

Now its barely half that. If thats not evaporating, I dont know what is.

BTW bis,

https://bitcointalksearch.org/topic/m.969563

Thats when DMC traded at 0.5 BTC,  3800% of todays value.
When the hell are you going to wake up and smell the coffee? And why dont you begin to apologize to everyone whos money you pissed away?

It didn't evaporate anywhere. It never existed.

I still do not see a clear answer from you to a question "where is the rest of the BTC evaporated to"?
We are not talking about 20-30% drop. It's more like 90% has just evaporated to nothingness.



 

And now I don't have to worry about those 5113 shares of OBSI.1MHS, Obsi has put up a motion for OBSI.ABMO to convert my OBSI.1MHS to 5113 shares of OBSI.ABMO, which I am valuing at 7mh each due to Obsi's planned BFL upgrade. Nether of us think the motion will fail.

This upgrade will bring mh/share up to 5 mh/share.

Fixed mh bonds in our possession represent 5 ghash out of 73. BTC-MINING, BTCMC, and ASICMINER already represent what you have suggested.

The motion to suspend dividends for three months has passed.

8253 shares voted yea.
914 shares voted nay.

The dividends for August (paid September 1st), September (paid October 1st), and October (paid November 1st) will be recycled to increase NAV.

Unless another motion to continue further suspension of dividends passes, the next dividend will be December 1st for November.

The warnings have been there for months he just chose to ignore them and bury his head in the sand. The only way he could have changed the outcome here is to find actual mining companies with growth plans as that is the only thing that can save you from ever increasing difficulty. If he doesnt sell off all the fixed bonds now and reinvest in growth assets the company will be worth 0.

BTW, if those really are your only tangible assets, I think its time to consider giving you a scammer tag.
There is no frigging way you could have lost 94% of your shareholders investment just by making stupid purchases. Sure, mining bond prices have plummeted, something anyone with a brain could have predicted,  but even a monkey throwing darts at glsbe and picking the worst buys would have retained more of the original sum. Where did all the money go? sure as heck not to dividend payments.

Stop hiding and distorting the truth! You cant express stocks as if they are perpetual mining bonds. Here are the actual numbers:

BTC-Mining: 10x0.99991 = 9.999
BTCMC 915x0.55 =503.25
OBSI.1MHS 5113x0.09989=511
ASICMINER 1980x0.105=207

total worth of 1231 BTC ignoring market depth or at most 0.059 BTC per share.

How much is in your "growth fund"?

Total shares: 20709

BTC-Mining (370 mhash): 10 (3700 mhash)
BTCMC (6 mhash): 951 (5706 mhash)
OBSI.1MHS (1 mhash): 5113 (5113 mhash)
ASICMINER (30 mhash): 1980 (59400 mhash)

Total mhash: 73919 mhash
Approximately 3.569 mhash per share

Hate to break it to you, but it already has. Investors have clearly lost all confidence, since the current price is actually substantially lower than just the resale value of DMC's holdings, low as those might be. So yeah, I actually bought some DMC shares lol. But to get new funds, ie sell currently unsold shares at 1BTC would require nothing less than a miracle. It just cant happen, whatever DMC holds will become worth less, not more over the next months, and it will never in a million years become so valuable again that previously unsold shares will sell again. All diablo can do is swap shares at market rates, but that just means he steals from current investors and further devalues their holdings.

Since apparently DMC's current stated goal is to somehow become a datacenter  operator, something which costs millions of dollars, the game is up. Not that there ever was one.

The only sensible thing left to to do: sell all those damn fixed mining bonds right NOW (*), for as long as there are suckers willing to pay for them. Return whatever is salvaged to the shareholders, and call it a day. Start over with a sensible business plan and a sensible IPO strategy.

(*) I might make an exception for some shares in mining companies like yochdog's, because even if I think the future looks bleak for all miners, at least  those are shares backed by assets and not bonds that will devalue faster than a Zimbabwean dollar,  and there is a slim possibility asic mining might be worthwhile for a while.

Good idea.
I do not want to see the DMC burn and looks like you need help to get this show on the road.

A motion to withhold dividends? With an estimated 2/3 of your assets burnt, a share price that already lost 97% of its value since IPO, and now you propose 3 months without dividend payments ?  Shareholders that bought this stock at 1BTC expecting this to become a mining company, instead of one of the worst managed hedge funds ever should sharpen their pitchforks and file a motion to replace the current CEO. THen who knows,  at least something might still be salvaged. In another 3 months there wont be anything left.

Because of the current situation, can you publish DMC portfolio more often that once a month?
Actually, why not make it available "live" on your web site? Update once in 24h is fine by me.