Topic: [GLBSE] BFLS - Bitcoin Mining & Sales - page 6. (Read 17925 times)

Yes, BFLS is utilizing a number of different methods to get better than PPS rate when possible.  I'm not guaranteeing anything better than the flat PPS rate, but when fortune is good everyone gets a cut!

I assume your dividend payment is calculated after electricity cost, right? Your dividend payment for this week is equivalent to about 880 mhash/s per bfl single without even counting electricity cost. Are you using something like GPUMAX to get higher than PPS?

Ok, got access and dividends have been paid.

I am still unable to login to GLBSE and Nefario has not responded to my support request as of yet...

Seems 2 factor authentication has gotten screwed up on GLBSE, and I am unable to login to issue dividend payments.  I will issue them as soon as I am able to login - probably tomorrow sometime.

I'd also say keep it separate.
Pajka

As long as this does not reduce the existing expected dividend/share payout (i.e. one BFLS share being equivalent to 1/200th of the net profit from a BFL Single), it doesn't matter.

However this may not be possible to achieve because the profit from an 800Mhps FPGA is much greater than that from an 800Mhps GPU; I wouldn't want the addition of GPUs to reduce net shareholder profit.

Remember that currently, depending on electricity rates, anywhere from 1/4 to 1/2 of the profit from GPU mining goes to paying electricity. FPGAs don't have that problem. If an 800Mhps FPGA earns 10BTC, 9.5BTC of that is profit. If an 800Mhps GPU earns 10BTC, only 5-7BTC of that is profit.

The situation gets even worse in December when the block reward drops to 25BTC: GPU profitability, again depending on local electricity rates, will be hit much harder than FPGA profitability.

So what are the options?

One way is to reduce the # of shares allocated to a GPU. For example, 200 BFLS shares currently represent a BFL Single (~800Mhps). You wouldn't want to make 200 shares represent a 5970 (also 800Mhps) because a 5970 is much less profitable even though it has the same hashrate. So you might want to allocate only, say, 120 shares for a 5970 to account for its lowered 'net' hashrate (gross hashrate minus its running cost in electricity). That's just an example.

But even this breaks down when the block reward drops in December. Continuing to operate the GPUs will drag down overall profits per megahash; something that should be avoided.

A better way (perhaps the only fair way) of handling this is to create a new GLBSE offering strictly for GPU mining. That way you can keep the high-efficiency FPGA mining separate from GPU mining. They each have a different income/expense/profit profile, and should be best treated separately.

Those are my thoughts for now.

Since it looks like I will be hanging on to at least some GPUs for the near term future, I would like to ask what you guys think of me rolling some of my GPU power into BFLS offerings.  In the unlikely event someone wanted a GPU, I'd be willing to trade BFLS shares for GPU hardware as well - but I wanted to get the shareholders thoughts on rolling GPU power into the offering.

Since my GPU farm is/was so large, I always have at least a couple cards down/in for RMA, which is one of the primary reasons I  want to migrate to primarily FPGA mining, so income from the GPU based shares would be slightly reduced depending on hardware luck/failure, though I don't imagine it would be drastically reduced.

What's everyone thoughts on that?

Dividends paid out just now.  Continuing to bring new hardware online...

Been swamped with the new server deployment and haven't had a chance to work on the stats page.  I hope to get to that this week.

Thanks for the updates, Inaba.

Sorry I haven't gotten the new stats page up yet.  Things keep getting in the way of my time!

I paid out dividends today, you all should have them in your accounts for BFLS share holders.  Still waiting on the rest of the hardware.

I have the new code almost done, so you'll be able to see the current mining hashrate/historical rate and estimated payout(s) and number of units active.

I will be setting up a page on EclipseMC this week so you can view the real time hashrate of the units and an estimated payout per share.  Where are my units!!!!  Arg!

I sent out a dividend payment this morning, those of you with BFLS shares should see approximately .005 BTC per share payment.  That will, of course, increase as I add additional hashrate.  Hopefully sometime early this week.

The hardware order has been placed (Yesterday).  I will start dividend payments on BFLS shares this week, though it will only be a partial week with partial hashrate until I can press more hardware into service.

GLBSE prediction market launched

Yes, you can buy some fresh shares from me.  I got the last check I was expecting in the mail today so I'll be placing the order this week.  As of right now, all BFLS.FUTURES shares will be converted to BFLS shares when the order comes in.

As long as Inaba hasn't placed the order yet, I'm sure you'd be able to obtain some fresh shares - PM him.

I was just thinking that if few more people joined in Inaba could be able to buy 2 minirigs instead of 1 minirig + some BFLS - that's why I was willing to buy directly from him.
Second point is - I see there are some on the market - I just don't understand how Inaba keeps the list of owners if I am not buying directly from him. If I buy them on the market he can hardly check that I really bought them (if it isn't from him) and the guy I buy them from will stay on the list - so maybe he can buy again in month or so again for 0.7 again and still have that place on the list which I would have bought from him. Or I can claim that I bought them from someone (as Inaba can't check it) and get on the list but buy them really only in the next wave but get those BFLS shares earlier.
Don't get me wrong - I don't want to create any mess I just want to know better how it works before I buy in.

It was posted about a week ago that the order would be placed soon.  Maybe you missed the boat.  Right now there is over 200 immediately available on glbse.