Diablo Mining Company - page 35. | Bitcointalksearch.org

DiabloD3

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Quote from: yochdog on August 16, 2012, 01:11:03 PM

Quote from: DiabloD3 on August 16, 2012, 01:08:44 PM

Quote from: yochdog on August 16, 2012, 12:20:51 PM

Hey Diablo.....what is your projected dividend for next month?

Well, thats an interesting question.

In a couple minutes I'm putting up a motion up for vote on if we should end dividends until NAV has been sufficiently repaired (3 month maximum, we can vote on it again then). The market is giving us some great deals that we should not pass up.

The largest shareholder in DMC has already said he will vote yes with his shares, so unless there is a large vote against it, I'm just going to assume right now the vote is yes with a large margin.

So, assuming that the vote will indeed be yes, the next 3 months will pay zero dividend, but will accelerate in mhash/share greatly. If I play my cards right, we could be looking at 25 or more mh/share at the end of these 3 months.

I would advise you not suspend the dividend.....but that is just me. I think you will anger an already frustrated shareholder base.

They should be frustrated, but not at me. asicminer came in and basically obliterated the market. DMC sits in a good position to end up with a large chunk of the market because of what asicminer did.

We need to take advantage of this. 25mh is the new 1 mh.

DiabloD3

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New (and our first) motion:

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

Diablo Mining Company wishes to suspend dividend payment for a maximum of 3 months until net asset value has been sufficiently restored. Vote yes if you want to restore NAV, vote no if you want to continue dividend payments.

You must vote in the next 24 hours.

Edit: Bitcoin Mining Fund and Nyancat Financial have voted yes on this motion, thus 7k out of 20.5k shares have voted yes. Unless another 10.6k vote no, the motion will most likely pass.

yochdog

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Quote from: DiabloD3 on August 16, 2012, 01:08:44 PM

Quote from: yochdog on August 16, 2012, 12:20:51 PM

Hey Diablo.....what is your projected dividend for next month?

Well, thats an interesting question.

In a couple minutes I'm putting up a motion up for vote on if we should end dividends until NAV has been sufficiently repaired (3 month maximum, we can vote on it again then). The market is giving us some great deals that we should not pass up.

The largest shareholder in DMC has already said he will vote yes with his shares, so unless there is a large vote against it, I'm just going to assume right now the vote is yes with a large margin.

So, assuming that the vote will indeed be yes, the next 3 months will pay zero dividend, but will accelerate in mhash/share greatly. If I play my cards right, we could be looking at 25 or more mh/share at the end of these 3 months.

I would advise you not suspend the dividend.....but that is just me. I think you will anger an already frustrated shareholder base.

DiabloD3

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Quote from: yochdog on August 16, 2012, 12:20:51 PM

Hey Diablo.....what is your projected dividend for next month?

Well, thats an interesting question.

In a couple minutes I'm putting up a motion up for vote on if we should end dividends until NAV has been sufficiently repaired (3 month maximum, we can vote on it again then). The market is giving us some great deals that we should not pass up.

The largest shareholder in DMC has already said he will vote yes with his shares, so unless there is a large vote against it, I'm just going to assume right now the vote is yes with a large margin.

So, assuming that the vote will indeed be yes, the next 3 months will pay zero dividend, but will accelerate in mhash/share greatly. If I play my cards right, we could be looking at 25 or more mh/share at the end of these 3 months.

yochdog

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Hey Diablo.....what is your projected dividend for next month?

DiabloD3

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Quote from: P4man on August 16, 2012, 03:45:23 AM

Lets see if I understand all this right.

You are offering to swap DMC shares for other mining bonds; I assume those DMC shares come from the almost infinite pool of unsold shares ? And the ratio you use is some arbitrary exchange rate? How is that different from selling those shares at 0.01BTC or whatever (and buying some other turds with the proceeds) thereby further screwing over your investors by lowering DMC share value arbitrarily? Now in practice I guess it doesnt matter, because no one in their right minds is going to swap bonds (let alone asicminer shares) that still have some resale value for DMC shares that pretty much have none. The ratio you put forward is almost as laughable as the 1BTC price for your shares.

Next point; you thought it was a good idea to buy back your shares when they were trading at 0.5 or 0.6 BTC because you thought that was under priced. Now only 2 weeks later they trade 10x lower, but you dont seem to think its wise to buy back? What exactly changed in those 2 weeks?

Not near infinite. There is 200k, and thats all there ever will be unless there is large majority vote by shareholders to issue more.

The ratio is based on the near term projected growth. Due to asicminer destroying the bond market and setting a new high water mark in mh per btc, DMC has jumped to 15mh per share for trade.

I have not thought it is unwise to buy them back, I just haven't done it yet.

P4man

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Lets see if I understand all this right.

You are offering to swap DMC shares for other mining bonds; I assume those DMC shares come from the almost infinite pool of unsold shares ? And the ratio you use is some arbitrary exchange rate? How is that different from selling those shares at 0.01BTC or whatever (and buying some other turds with the proceeds) thereby further screwing over your investors by lowering DMC share value arbitrarily? Now in practice I guess it doesnt matter, because no one in their right minds is going to swap bonds (let alone asicminer shares) that still have some resale value for DMC shares that pretty much have none. The ratio you put forward is almost as laughable as the 1BTC price for your shares.

Next point; you thought it was a good idea to buy back your shares when they were trading at 0.5 or 0.6 BTC because you thought that was under priced. Now only 2 weeks later they trade 10x lower, but you dont seem to think its wise to buy back? What exactly changed in those 2 weeks?

DiabloD3

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Hey all.

My VPS is down at the moment, so there goes the trade chart until Enzu is done their LA migration. However, I'm changing the trade requirement from 3.5 mhash to 15 mhash. That means 15:1 for all the 1 mhash bonds, and 1:2 for asicminer.

Price per mhash on GLBSE is crashing, so might as well trade to me while you still can. I'm probably going to continue progressing the trade requirement 1 mhash per month from now on, so you have 16 days until the next increase.

P4man

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Quote from: Coinoisseur on August 14, 2012, 06:28:03 AM

In regards to DMC, it's operating as a company and not a bond so changes in structure and operation are within the bounds of expected outcomes.

LOL. Its certainly within the bounds of my expectations , but anyone who bought this share at 1BTC might feel differently.

In case you missed it, Diablo is now much closer to a one millionth of a dollar company than a one million dollar company:

https://glbse.com/asset/view/DMC

Way to go D3D!

Coinoisseur

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Um, am I the only one who remembers that the ASIC offerings are for future output. Unless someone has ASIC hashing running at the up until now theoretical rates and I've just missed the news item. Edit: Otherwise, arguing it is devaluing current DMC value is a bit of a stretch.

In regards to DMC, it's operating as a company and not a bond so changes in structure and operation are within the bounds of expected outcomes.

toffoo

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:facepalm: :facepalm: :facepalm:

Maybe I was singing your praises too soon ...

I went on to GLBSE to see why our shares were trading near zero,

and when I finally figured it out, all I could think of was ... SCUMBAG DIABLO:

toffoo

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Quote from: xkrikl on August 02, 2012, 01:50:32 PM

I am just unsure if buying back is the right thing when we want to sell shares to get the money for the big thing.

As a fellow shareholder, I ABSOLUTELY think buying back is the right thing to do.

If the marketplace is (wrongly?) discounting DMC shares to the point where they're a better value than other mining bonds, Diablo would be wrong to not take advantage of it.

It's probably the shrewdest move I've seen our "management" make.

DiabloD3

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Quote from: xkrikl on August 02, 2012, 01:50:32 PM

Quote from: DiabloD3 on August 02, 2012, 07:46:54 AM

Quote from: xkrikl on August 02, 2012, 06:27:38 AM

What has happend that we have
1) less hashing power this month 8759 mhash versus last month 11574 mhash?
2) less shares sold this month 2993 shares versus last month 4066 shares?

I sometimes trade one bond for another if I can get more hash cheaper that way. DMC shares themselves happened to become cheaper than other bonds, so I bought a large number of them back.

mhash/share went up, however.

Thanks for clarification.
Higher mhash/share is good and the fact that the dividend per share doubled is a good sign of it.
I am just unsure if buying back is the right thing when we want to sell shares to get the money for the big thing.

Things will be back on track when Bitcoin prices stop being insane. We just crossed $10, so that might be a month or two.

xkrikl

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Quote from: DiabloD3 on August 02, 2012, 07:46:54 AM

Quote from: xkrikl on August 02, 2012, 06:27:38 AM

What has happend that we have
1) less hashing power this month 8759 mhash versus last month 11574 mhash?
2) less shares sold this month 2993 shares versus last month 4066 shares?

I sometimes trade one bond for another if I can get more hash cheaper that way. DMC shares themselves happened to become cheaper than other bonds, so I bought a large number of them back.

mhash/share went up, however.

Thanks for clarification.
Higher mhash/share is good and the fact that the dividend per share doubled is a good sign of it.
I am just unsure if buying back is the right thing when we want to sell shares to get the money for the big thing.

DiabloD3

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Quote from: xkrikl on August 02, 2012, 06:27:38 AM

What has happend that we have
1) less hashing power this month 8759 mhash versus last month 11574 mhash?
2) less shares sold this month 2993 shares versus last month 4066 shares?

I sometimes trade one bond for another if I can get more hash cheaper that way. DMC shares themselves happened to become cheaper than other bonds, so I bought a large number of them back.

mhash/share went up, however.

DiabloD3

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Quote from: P4man on August 02, 2012, 06:14:05 AM

Quote from: DiabloD3 on August 02, 2012, 03:41:39 AM

I don't really think he makes valid points. All he does is continually remark that Bitcoin cannot build a data center,

Im saying you cant build a datacenter and profit from it (nor me if it makes you feel better), because you lack the funds, the expertise and even basic common sense. Its hard enough for people who have all three.

Okay, you can claim that. Its a free country. A lot of people do not agree with you, however.

Quote

or that its somehow impossible to enter a market that badly needs more competition

Which market? Mining market? Mining is a zero sum game. Of course you can enter it, but very few people, if any, will be able to profit from it in the asic era, even with asics. And anyone entering it with (non upgradable) FPGAs at this hour is pretty much guaranteed to be throwing his money away. I also dont see why it would need more competition, chances are there will be way too many miners for not enough mining revenue.

No, not mining. Data center space, the market is growing faster than companies can supply it.

Quote

, or that solar power is not profitable,

Im saying its not free power.
[/quote]

Good, because its not. If I produce more power than I use, it has a negative operational cost; that is not the same as free.

Quote

Mining bonds aren't losers because they continue to pay out.

Like I said, you lack basic common sense. Do you really not comprehend that their payout is less than their value depreciation ? And that this will get infinitely worse if asics arrive?

Yet the same would happen if I purchased the hardware: it would depreciate in value.

Also, much of what DMC owns already has an ASIC upgrade path.

xkrikl

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What has happend that we have
1) less hashing power this month 8759 mhash versus last month 11574 mhash?
2) less shares sold this month 2993 shares versus last month 4066 shares?

P4man

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Merit: 500

Quote from: DiabloD3 on August 02, 2012, 03:41:39 AM

I don't really think he makes valid points. All he does is continually remark that Bitcoin cannot build a data center,

Im saying you cant build a datacenter and profit from it (nor me if it makes you feel better), because you lack the funds, the expertise and even basic common sense. Its hard enough for people who have all three.

Quote

or that its somehow impossible to enter a market that badly needs more competition

Which market? Mining market? Mining is a zero sum game. Of course you can enter it, but very few people, if any, will be able to profit from it in the asic era, even with asics. And anyone entering it with (non upgradable) FPGAs at this hour is pretty much guaranteed to be throwing his money away. I also dont see why it would need more competition, chances are there will be way too many miners for not enough mining revenue.

Quote

, or that solar power is not profitable,

Im saying its not free power.

Quote

Mining bonds aren't losers because they continue to pay out.

Like I said, you lack basic common sense. Do you really not comprehend that their payout is less than their value depreciation ? And that this will get infinitely worse if asics arrive?

DiabloD3

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Quote from: EskimoBob on August 02, 2012, 02:56:44 AM

Meanwhile, in other news: Existing Solar Tech Could Power Entire US, Says NREL

P4man actually makes valid points and I personally think, those needs to be addressed.
Can you stop investing to mining turds? As you probably have realized by now, they are all losers until difficulty stops climbing.

I don't really think he makes valid points. All he does is continually remark that Bitcoin cannot build a data center, or that its somehow impossible to enter a market that badly needs more competition, or that solar power is not profitable, or other things that aren't true.

Mining bonds aren't losers because they continue to pay out. Leaving the money simply sit means those profits are lost forever, and it also locks us out of future investors because no one is going to invest in something on GLBSE that doesn't pay dividend; worse, instead of investing in DMC, people may throw their money at Pirate or BFL instead because they don't know any better.

EskimoBob

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Quality Printing Services by Federal Reserve Bank

Meanwhile, in other news: Existing Solar Tech Could Power Entire US, Says NREL

P4man actually makes valid points and I personally think, those needs to be addressed.
Can you stop investing to mining turds? As you probably have realized by now, they are all losers until difficulty stops climbing.

Topic: Diablo Mining Company - page 35. (Read 96370 times)