[GLBSE] BFLS.RIG - BFL Hardware mining & Sales - page 2.

server

legendary

Activity: 892

Merit: 1002

1 BTC =1 BTC

Quote from: Inaba on August 31, 2013, 05:11:42 PM

ASICs wern't even announced 1.5 years ago, so I'm not sure where you are getting that info from.

This thread, first page... 1 year and several months ago:

Quote from: Inaba on June 26, 2012, 02:16:59 PM

Yep, as soon as the hardware is delivered. Same deal as BFLS, whatever is earned by the machines gets paid out as dividends.

But who's counting... outcome stays the same. YOU REFUSE TO MINE WITH THE 3TH ASIC RIGS Angry

Quote

As for "leaving shareholders hanging without compensation" what do you mean? .026 BTC per share is more than the original price of the shares and share holders have been getting paid on those shares since the start, I'd say that's a tidy profit. No one has been waiting for ASICs for 12 months, no one.

As for refusing to address the problem, I am addressing it, I'm basically buying back all the shares at greater than face value and dissolving BFLS.

I was talking about BFLS.RIG and not BFLS... you sold .RIG shares with a promise to mine with 2 asic rigs of 1.5 TH each.

Inaba

legendary

Activity: 1260

Merit: 1000

ASICs wern't even announced 1.5 years ago, so I'm not sure where you are getting that info from.

As for "leaving shareholders hanging without compensation" what do you mean? .026 BTC per share is more than the original price of the shares and share holders have been getting paid on those shares since the start, I'd say that's a tidy profit. No one has been waiting for ASICs for 12 months, no one.

As for refusing to address the problem, I am addressing it, I'm basically buying back all the shares at greater than face value and dissolving BFLS.

server

legendary

Activity: 892

Merit: 1002

1 BTC =1 BTC

Maybe this is working for the BLFS shares, but the problem I tried to address was that you sold BLFS.RIG shares 1.5 year ago with the promise that you would operate 2*1.5 TH/s rigs.

You changed your mind about this and left shareholders hanging without compensation.

We're waiting now for more then 12 months and still you refuse to address this problem.

Inaba

legendary

Activity: 1260

Merit: 1000

Well, the solution is to wait or I pay out of my pocket and make everyone whole. .026 BTC per share is more value in USD than the shares cost, plus whatever they have generated in the interim = profit for everyone, except me.

server

legendary

Activity: 892

Merit: 1002

1 BTC =1 BTC

Quote from: Inaba on August 31, 2013, 10:10:10 AM

Ok, I will make a final payout of .026 BTC per share and discontinue BFLS. I will try to get that done ASAP.

Shouldn't you ask shareholders if they are OK with this ?

Inaba

legendary

Activity: 1260

Merit: 1000

Ok, I will make a final payout of .026 BTC per share and discontinue BFLS. I will try to get that done ASAP.

server

legendary

Activity: 892

Merit: 1002

1 BTC =1 BTC

Josh it's time to come up with a solution for this.
Stalling is not a solution.

I really get the feeling I'm being screwed over by you and BFL.
I don't like this feeling.

filharvey

hero member

Activity: 866

Merit: 1001

Quote from: Inaba on July 28, 2013, 10:19:34 AM

First of all, no one but me has paid or upgrades. I paid out of my own pocket.

Second, the vast majority of the shares were sold long before the ASICs were even announced and long before I started working for BFL. There are a handful of shares that were sold after the ASICs were announced, but that is just a tiny fraction of the total shares and were out of my own personal holding. Any valuation on the shares was done on the value of the FPGAs.

Fil, is your question how many do I personally have on order or how many are allocated to BFLS as upgrades?

Was for BFLS as upgrades. But if you want to say how many you have on order as well fine :-).

Phil

Inaba

legendary

Activity: 1260

Merit: 1000

First of all, no one but me has paid or upgrades. I paid out of my own pocket.

Second, the vast majority of the shares were sold long before the ASICs were even announced and long before I started working for BFL. There are a handful of shares that were sold after the ASICs were announced, but that is just a tiny fraction of the total shares and were out of my own personal holding. Any valuation on the shares was done on the value of the FPGAs.

Fil, is your question how many do I personally have on order or how many are allocated to BFLS as upgrades?

Energizer

sr. member

Activity: 273

Merit: 250

The mining hardware upgrade been paid by US "the share holders", the early position in the delivery line is ours "the share holders", we paid much more than the coast of the hardware at the time we bought the shares cause you had an earlier position in the delivery line. Now who gives the right for BFL to delay our orders? How would you agree on that? If all share holders find this reasonable, I personally find it so hard to make any sense out of such unfair decision that is still open for more unfair options and calculations.

filharvey

hero member

Activity: 866

Merit: 1001

What is the current number of singles and rigs ordered? And what is the rough timeline for delivery. I saw you saw maybe 2 months, certainly less than 3.

Phil

Inaba

legendary

Activity: 1260

Merit: 1000

Quote from: Epoch on July 27, 2013, 04:21:45 PM

Quote from: Inaba on July 27, 2013, 02:26:16 PM

Yes, I would consider an at cost buy out, sure. The only caveat to that is I can't guarantee a shipping date at the moment, but other than that, I would be glad to sell at cost to be relieved of the responsibility. I would love to continue operating BFLS, but I simply don't have the time any more and my time is going getting more scarce as times goes on and BFL expands and I do not want BFLS to languish and become an albatross for everyone involved.

I'm not sure we are talking about the same thing. It sounds like you are talking about a 100% buyout of BFLS hardware/preorders by some individual from you. I was talking about the possibility of you offering to buy back shares of individual shareholders who want "out".

For example, Ralph has 100 shares of BFLS. He wants out now. The at-cost value of 1 share is 0.06 BTC as I proposed in an earlier message. So Ralph's 100 shares are worth 6 BTC.

So my question would be: Would you be willing to give Ralph 6 BTC now in exchange for his 100 shares? This is what I meant. Apologies if I wasn't being clear earlier.

Oh, sorry... yes I'm still open to that idea as well. It's definitely not off the table at the moment.

Epoch

legendary

Activity: 922

Merit: 1003

Quote from: Inaba on July 27, 2013, 02:26:16 PM

Yes, I would consider an at cost buy out, sure. The only caveat to that is I can't guarantee a shipping date at the moment, but other than that, I would be glad to sell at cost to be relieved of the responsibility. I would love to continue operating BFLS, but I simply don't have the time any more and my time is going getting more scarce as times goes on and BFL expands and I do not want BFLS to languish and become an albatross for everyone involved.

I'm not sure we are talking about the same thing. It sounds like you are talking about a 100% buyout of BFLS hardware/preorders by some individual from you. I was talking about the possibility of you offering to buy back shares of individual shareholders who want "out".

For example, Ralph has 100 shares of BFLS. He wants out now. The at-cost value of 1 share is 0.06 BTC as I proposed in an earlier message. So Ralph's 100 shares are worth 6 BTC.

So my question would be: Would you be willing to give Ralph 6 BTC now in exchange for his 100 shares? This is what I meant. Apologies if I wasn't being clear earlier.

Inaba

legendary

Activity: 1260

Merit: 1000

Yes, I would consider an at cost buy out, sure. The only caveat to that is I can't guarantee a shipping date at the moment, but other than that, I would be glad to sell at cost to be relieved of the responsibility. I would love to continue operating BFLS, but I simply don't have the time any more and my time is going getting more scarce as times goes on and BFL expands and I do not want BFLS to languish and become an albatross for everyone involved.

Epoch

legendary

Activity: 922

Merit: 1003

Quote from: Epoch on July 26, 2013, 11:29:57 AM

Let me throw one other option out there: Inaba, for those preferring not to wait, would you be willing to offer an at-cost buyout? It turns out to be 0.06 BTC/share for both BFLS and BFLS.RIG according to my calculations.
... snip ...

Josh, have you had a chance to think about offering this as an option to folks?

Inaba

legendary

Activity: 1260

Merit: 1000

I think there was only a handful of additional shares sold since the demise of GLBSE, so I'm not sure that the share valuation on most of the shares had that taken into account. Just my a side note, not that it really affects anything at the moment.

RHA

sr. member

Activity: 392

Merit: 250

(@JackRabiit - Huh

Read this (and BFLS) thread from the very beginning. You will understand more.

@Epoch - Starting from July 2012 the shares had greater value, because the hardware was promised to be upgraded with an early order. The future income was accounted for into a current price of the shares at GLBSE. For many months people were waiting to have this fulfilled.
Now, because of too strict BFL policy, the promise cannot be kept. Josh surely tried but failed to explain to them that the ordered ASIC upgrade (at least half) is a (kind of) property of the BFLS(.RIG) shareholders, not of him. In other words, it's shareholders' order, because the machines to be upgraded are theirs (funded by them). BFL holding back the implementation of the order, is doing harm directly to shareholders. Josh's lost income from ASIC is replaced by a salary. The shareholders have no such a reimburse. Maybe it's time for shareholders to explain it to a decision-making person.

Fiyasko

legendary

Activity: 1428

Merit: 1001

Okey Dokey Lokey

Quote from: Inaba on July 26, 2013, 06:46:07 PM

-snip-

I'll remove the post i planted in this thread, because it was horribly incorrect.

Inaba

legendary

Activity: 1260

Merit: 1000

JackRabiit, please take your lies and misinformation somewhere else. This is not the thread for it. You can't spell, you have no grammatical skills, you apparently can't even post a single actual fact and your signature is full of misinformation and lies as well. In short, please go away. It's obvious you've not even read this thread, you just want to throw your uninformed, useless 2c into the ring because it makes you feel special and you need the attention to validate your existence.

Inaba

legendary

Activity: 1260

Merit: 1000

Quote from: Sukrim on July 26, 2013, 03:50:39 PM

Quote from: Inaba on July 26, 2013, 10:28:37 AM

Shares have not been accumulating any dividends. All dividends have been divided up equally between active shareholders.

WTF?!

You did not contact me after the GLBSE meltdown and then you give away the proceeds from my share to other share holders as bonus? It was certainly not part of that contract that I have to be proactively reading this thread to receive any dividends (that you could easily have sent me as you (still) have an address associated with my share). Since when does one have to be "active" to be a share holder?

I'm certainly NOT pleased in how this is/was handled... Angry

You had months and months to claim your share. I sent out multiple emails and made multiple posts. All unclaimed shares (less than 100 of them, 34 if I recall properly) were considered abandoned. So yes, I did contact you, you failed to respond, sorry!

Topic: [GLBSE] BFLS.RIG - BFL Hardware mining & Sales - page 2. (Read 28518 times)