I'm not sure I totally understand the question - I will release X number of BFLS.FUTURES shares and with the proceeds order the hardware. Once it arrives, share holders can trade in their BFLS.FUTURES shares for BFLS shares... there will never be more BFLS.FUTURES shares than there is hardware on order (with a reasonable lag time between share sales and ordering).
I haven't figured out the value of X yet, but it's somewhat immaterial, since they are effectively vouchers for BFLS shares and thus no dividends are paid on them. I'm thinking maybe a total of 2 minirig and 15 singles worth is the right number, so about 13,400 shares, though I may make that a random number around that value to give an odd number of shares, so people have a chance to buy them as opposed to people buying even block numbers and snatching them all up.
Topic: [GLBSE] BFLS - Bitcoin Mining & Sales - page 9. (Read 17942 times)
I will be transferring the 800 manually, not through public sale to assure the same person doesn't snatch up all of the publicly available shares.
I am going to create a new asset called BFLS.FUTURES . This will be a non dividend paying asset that you can trade for BFLS shares when hardware becomes available. You will be able to trade 1:.85 as new hardware arrives. So 100 shares of BFLS.FUTURES will get you 85 shares of BFLS. I will increase the number of shares available for BFLS as new hardware is added and remove shares from public circulation as hardware is removed, so share dilution should never happen as the corresponding hashrate increase will increase the per-share dividend value. If more hardware comes online than is covered by BFLS.FUTURES, then I will offer BFLS shares for public sale, but BFLS.FUTURES holders will have priority over public sale.
The above is subject to modification as I flesh out this idea a bit more, but I wanted to get it out there to get some comments and see if anyone sees a flaw in this plan.
I am going to create a new asset called BFLS.FUTURES . This will be a non dividend paying asset that you can trade for BFLS shares when hardware becomes available. You will be able to trade 1:.85 as new hardware arrives. So 100 shares of BFLS.FUTURES will get you 85 shares of BFLS. I will increase the number of shares available for BFLS as new hardware is added and remove shares from public circulation as hardware is removed, so share dilution should never happen as the corresponding hashrate increase will increase the per-share dividend value. If more hardware comes online than is covered by BFLS.FUTURES, then I will offer BFLS shares for public sale, but BFLS.FUTURES holders will have priority over public sale.
The above is subject to modification as I flesh out this idea a bit more, but I wanted to get it out there to get some comments and see if anyone sees a flaw in this plan.
How would you determine which of the BFLS.FUTURES shares get transfered when you get new hardware? Or will you only release BFLS.FUTURES shares for the exact number of new hardware you have or plan to get.
I will be transferring the 800 manually, not through public sale to assure the same person doesn't snatch up all of the publicly available shares.
I am going to create a new asset called BFLS.FUTURES . This will be a non dividend paying asset that you can trade for BFLS shares when hardware becomes available. You will be able to trade 1:.85 as new hardware arrives. So 100 shares of BFLS.FUTURES will get you 85 shares of BFLS. I will increase the number of shares available for BFLS as new hardware is added and remove shares from public circulation as hardware is removed, so share dilution should never happen as the corresponding hashrate increase will increase the per-share dividend value. If more hardware comes online than is covered by BFLS.FUTURES, then I will offer BFLS shares for public sale, but BFLS.FUTURES holders will have priority over public sale.
The above is subject to modification as I flesh out this idea a bit more, but I wanted to get it out there to get some comments and see if anyone sees a flaw in this plan.
I am going to create a new asset called BFLS.FUTURES . This will be a non dividend paying asset that you can trade for BFLS shares when hardware becomes available. You will be able to trade 1:.85 as new hardware arrives. So 100 shares of BFLS.FUTURES will get you 85 shares of BFLS. I will increase the number of shares available for BFLS as new hardware is added and remove shares from public circulation as hardware is removed, so share dilution should never happen as the corresponding hashrate increase will increase the per-share dividend value. If more hardware comes online than is covered by BFLS.FUTURES, then I will offer BFLS shares for public sale, but BFLS.FUTURES holders will have priority over public sale.
The above is subject to modification as I flesh out this idea a bit more, but I wanted to get it out there to get some comments and see if anyone sees a flaw in this plan.
Waiting just makes it more likely that big money gets all the shares. They can take the time to look to see where the current bids are and bid the highest.
How long will the 800 be pending for?
Agreed - based on the BTC volume showing 703 seems like 1000 shares...
Ok, I released all the available shares. Took me a few minutes to figure out how to handle it... getting the hang of GLSBE slowly.
I will be making another offering for the MiniRig future, as well as releasing more shares for this asset as soon as I get more hardware in.
900 were released for public sale, 800 are pending at the moment to guarantee that no single entity will gain all the shares. The other 300 are the 15%, for a total of 2000, or 10 units worth. I wish I could see what accounts acquired the shares - I assume more than one or two people were able to acquire at least some shares?
I will be making another offering for the MiniRig future, as well as releasing more shares for this asset as soon as I get more hardware in.
900 were released for public sale, 800 are pending at the moment to guarantee that no single entity will gain all the shares. The other 300 are the 15%, for a total of 2000, or 10 units worth. I wish I could see what accounts acquired the shares - I assume more than one or two people were able to acquire at least some shares?
Is that all the shares released? Looks like only about 1000 were released.
Phil
Phil
OK, we are live! 
I'm not going beyond 0.76. It's a great offer, but there's always a lot of things that could go wrong...
How do the IPO's on GLBSE work? Is it highest bidder get the sale? Is it all shares are sold at the IPO price or done via auction ie highest first?
Highest bids first.
just checked the orders and there is a lot of demand for this, with people offering all the way upto 1 for a share initially worth 0.7
I put up a bid 1@1 to prevent one buyer is getting all the stocks.
Just to prevent one big dog gets everything.
Bitcoin-rich buy all of these stocks & bonds and I think it's bad for bitcoin that a few people ...etcetc
How do the IPO's on GLBSE work? Is it highest bidder get the sale? Is it all shares are sold at the IPO price or done via auction ie highest first?
@filharvey:
10. at least
2000 shares / 200 shares per unit = 10
10. at least
2000 shares / 200 shares per unit = 10
I think I missed it but how many BFL singles are on order for this? 5?
Phil
Phil
just checked the orders and there is a lot of demand for this, with people offering all the way upto 1 for a share initially worth 0.7
I put up a bid 1@1 to prevent one buyer is getting all the stocks.
Just to prevent one big dog gets everything.
Bitcoin-rich buy all of these stocks & bonds and I think it's bad for bitcoin that a few people ...etcetc
You cant even crack the top 2k orders for the original ipo price now. So when is the trigger getting pulled on this?
just checked the orders and there is a lot of demand for this, with people offering all the way upto 1 for a share initially worth 0.7
will be interesting to see how this goes over time. Wonder how many of the 200 orders for shares will request the hardware? At least 5 of over 200 shares.
Just counted 1600 orders for more than 0.71
Phil
will be interesting to see how this goes over time. Wonder how many of the 200 orders for shares will request the hardware? At least 5 of over 200 shares.
Just counted 1600 orders for more than 0.71
Phil
So, what's going on? The number of shares issued jumped from 0 to 2000 but there was no sell order from inaba yet...
I'm not sure... Inaba?
I'm just spamming F5.
So, what's going on? The number of shares issued jumped from 0 to 2000 but there was no sell order from inaba yet...
Yes, it's now 11:04 AM EDT.
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