I'm not sure how that would change anything? If I added more singles, I would add more shares and thus your payout would remain the same. The plan is to upgrade the singles into a mini-rig SC when those become available.
Topic: [GLBSE] BFLS - Bitcoin Mining & Sales - page 3. (Read 17942 times)
I am taking them out of service. I am sick and tired of supporting them and RMAing fans and crap all the time. They also take up a ton of space and generate a lot of heat. I will probably miss the heat this winter, but I have minirigs to keep me warm. 
Ok, but then the dividends will drop even more ...How big is the GPU part?
And you can sell them and buy us some BFLS or use the money for upgrade to ASIC anyways.
What is the plan?
I am taking them out of service. I am sick and tired of supporting them and RMAing fans and crap all the time. They also take up a ton of space and generate a lot of heat. I will probably miss the heat this winter, but I have minirigs to keep me warm.
Thanks for the update.
What does this exactly mean?
Are you just taking the GPUs out of service while they are still profitable?
Or are you about to sell them to use the funds for another BFLS purchase or ASIC upgrade?
What does this exactly mean?
The units did not generate as much in funds last week, but it was still above PPS. I have been turning down the GPUs that I was supplementing BLFS with slowly, but surely.
Are you just taking the GPUs out of service while they are still profitable?
Or are you about to sell them to use the funds for another BFLS purchase or ASIC upgrade?
More singles were added (2) and another one this week.
Hi Inaba,
what has happend that now we pay dividends to 400 shares more?
Pajka
what has happend that now we pay dividends to 400 shares more?
Pajka
~50 for RIG and a bit over 25 for BFLS at the moment.
Sweet....thanks for the info.
~50 for RIG and a bit over 25 for BFLS at the moment.
Rigs dividends are paid to RIG and BFLS is paid to BFLS.
The units did not generate as much in funds last week, but it was still above PPS. I have been turning down the GPUs that I was supplementing BLFS with slowly, but surely.
With regards to RIG, my cut comes in the form of 10% of the shares go to me for operating costs, so there's no ongoing costs as it were for the shares you own. I just keep 10% (or 605 shares) of a RIG if I sell all the shares. So 5453 shares go up for sale for a rig, basically, and you need 6058 to trade in for a rig.
The units did not generate as much in funds last week, but it was still above PPS. I have been turning down the GPUs that I was supplementing BLFS with slowly, but surely.
With regards to RIG, my cut comes in the form of 10% of the shares go to me for operating costs, so there's no ongoing costs as it were for the shares you own. I just keep 10% (or 605 shares) of a RIG if I sell all the shares. So 5453 shares go up for sale for a rig, basically, and you need 6058 to trade in for a rig.
So how many GH/s are you slinging?
Rigs dividends are paid to RIG and BFLS is paid to BFLS.
The units did not generate as much in funds last week, but it was still above PPS. I have been turning down the GPUs that I was supplementing BLFS with slowly, but surely.
With regards to RIG, my cut comes in the form of 10% of the shares go to me for operating costs, so there's no ongoing costs as it were for the shares you own. I just keep 10% (or 605 shares) of a RIG if I sell all the shares. So 5453 shares go up for sale for a rig, basically, and you need 6058 to trade in for a rig.
The units did not generate as much in funds last week, but it was still above PPS. I have been turning down the GPUs that I was supplementing BLFS with slowly, but surely.
With regards to RIG, my cut comes in the form of 10% of the shares go to me for operating costs, so there's no ongoing costs as it were for the shares you own. I just keep 10% (or 605 shares) of a RIG if I sell all the shares. So 5453 shares go up for sale for a rig, basically, and you need 6058 to trade in for a rig.
Whatever the rigs earn that week is divided evenly.
Ahhhh, so your cut came up front, and no ongoing expenses is subtracted from mining revenue?
How many GH/s is BFLS?
Whatever the rigs earn that week is divided evenly.
The rigs dividend should be payed to BFLS.RIG and not BFLS, right? I'm not sure I understand why the payment to BFLS for last week was less than before. What did it have to do with the rigs?
Whatever the rigs earn that week is divided evenly.
Looking for some clarification on the dividend per share......
So I have everything mostly worked out with GLBSE. However, I screwed up and distributed shares before paying this weeks dividend for the rigs, so I have now mixed partial week shares with full week shares. I should have paid the dividends then distributed the shares.
As such, I am going to roll the dividends into next weeks since this week was not a full week of mining and it would be a minor payment anyway. This will allow for proper/fair dividend distribution to all share holders instead of shortchanging some people and others getting a much larger amount than they should.
This will allow me to get all the rigs mining from the same start time this week.
As such, I am going to roll the dividends into next weeks since this week was not a full week of mining and it would be a minor payment anyway. This will allow for proper/fair dividend distribution to all share holders instead of shortchanging some people and others getting a much larger amount than they should.
This will allow me to get all the rigs mining from the same start time this week.
Well, what will essentially happen is that I will front the money for the upgrade and take all the "doubled" shares for myself. I will then sell whatever portion of the shares as I see fit. I've already taken my 15% and if all the upgrade shares are in my account, the 15% of them are there by default.
So, even if I didn't sell any of the upgraded shares, everyone would still benefit from the upgraded hashrate. But yes, I will be selling the upgraded shares, if there are any. However, I am considering trading in all the singles for a portion of an additional rig. If I do decide to do that, though, I will give plenty of notice and give people the opportunity of trading in their shares for the singles. Got plenty of time on that front!
So, even if I didn't sell any of the upgraded shares, everyone would still benefit from the upgraded hashrate. But yes, I will be selling the upgraded shares, if there are any. However, I am considering trading in all the singles for a portion of an additional rig. If I do decide to do that, though, I will give plenty of notice and give people the opportunity of trading in their shares for the singles. Got plenty of time on that front!
Inaba, can you comment on what happens when you slowly upgrade your FGPA Singles to SC Singles. I assume you won't be able to upgrade them all at once. I'm guessing since this is a pooled operation, you can share the extra hashrate with everyone.
I'm thinking it will go something like this. Let's say for example you have a total of 10 FPGA Singles. So there are 2000 shares outstanding. Come October, let's say you only get 5 SC Singles upgraded. So you immediately sell 233 shares of BFLS per device. 233 shares because each BFLS share represents $3 in equipement irrespective of hashrate and the SC upgrade is $700. So for the 5 units upgraded, you issue 1165 new shares and withhold 15% for yourself. That increases the total number of shares outstanding to 3165. You then have 5 fpga and 5 sc Singles mining for a week and the amount of BTC generated will be divided equally among the 3165 shares. Does that sound like the right way to do it?
To be fair, you should also send out a dividend right before the upgrade, so new owners do not get the benefit of the coins that were generated previously.
I'm thinking it will go something like this. Let's say for example you have a total of 10 FPGA Singles. So there are 2000 shares outstanding. Come October, let's say you only get 5 SC Singles upgraded. So you immediately sell 233 shares of BFLS per device. 233 shares because each BFLS share represents $3 in equipement irrespective of hashrate and the SC upgrade is $700. So for the 5 units upgraded, you issue 1165 new shares and withhold 15% for yourself. That increases the total number of shares outstanding to 3165. You then have 5 fpga and 5 sc Singles mining for a week and the amount of BTC generated will be divided equally among the 3165 shares. Does that sound like the right way to do it?
To be fair, you should also send out a dividend right before the upgrade, so new owners do not get the benefit of the coins that were generated previously.
Hi DILLIGAF,
Can I ask why you like to talk about me so much? Am I that interesting?
Can I ask why you like to talk about me so much? Am I that interesting?
I don't like rip-off artists.
Indeed it is a welcome change who would have thought a straight forward honest proposal that continues to be so and I highly doubt he is first in line gigavps seems to have the inside track on the hardware from BFL, first with the singles he has rack full of them when everyone else has trouble getting even one then mini-rig first again I think it will be third time lucky as well...
Hi DILLIGAF,
Can I ask why you like to talk about me so much? Am I that interesting?
As for having a "rack full" of singles before everyone else, this is a blatantly false statement. Let me point you to the following links to help you get your facts straight.
Very first single I received. I only received 1 and was not the first to receive them. I was just the first to make a post about it.
https://bitcointalksearch.org/topic/bfl-single-in-the-wild-bounty-received-65752
Here are some posts of the single farm growing, I ordered 10 after the 1, but received them in batches of three or four......
https://bitcointalksearch.org/topic/m.813386
https://bitcointalksearch.org/topic/m.835294
https://bitcointalksearch.org/topic/m.850030
If you are going to keep talking about me around the forums, please get your facts straight.
Best regards,
gigavps
Yeah, at the time, I had planned on combining them. If you want to transfer your shares from BFLS to BFLS.RIG, I am happy to do that for you.
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