[GLBSE] Bitcoin Mining Fund (see post #2 for FAQ) - page 2.

Sturmvogel

newbie

Activity: 52

Merit: 0

I'd also like to mention, I have been sick in the hospital recently so I have not paid dividends today. Or maybe I did, and can't remember. I have a system where I update the spreadsheet right before I pay out so, daily dividends will just go out tomorrow at the regular time (and include dividends which should have been paid 4 hrs ago, of course). Sorry for the delay.

Don't strain yourself, and get well!

Newar

legendary

Activity: 1358

Merit: 1001

https://gliph.me/hUF

Quote from: ?? on ??

We are evaluating companies on a case by case basis as time goes by. Our funds are limited, as we have not fully IPO'd yet (not even 50%) so we have had to take what deals we have come across. If we could sell a few hundred shares, we would be in a position to make deals with issuers and return this value to our shareholders.

This covers our take on the ASIC issue:
https://bitcointalksearch.org/topic/mining-88047

I'd also like to mention, I have been sick in the hospital recently so I have not paid dividends today. Or maybe I did, and can't remember. I have a system where I update the spreadsheet right before I pay out so, daily dividends will just go out tomorrow at the regular time (and include dividends which should have been paid 4 hrs ago, of course). Sorry for the delay.

Thank you for the explanation, it's a bit clearer now.

Sorry to hear you're sick. I hope you get well soon!

Newar

legendary

Activity: 1358

Merit: 1001

https://gliph.me/hUF

I have a question: Seeing that the BMF description mentions to only invest in miners and your opinion of bonds as you stated in the NastyMining thread... I was looking at the BMF holdings: Seems to me there are a lot of bonds in there while miners are left out i.e. FPGA.CONTRACT (not saying that they should be in BMF).

Just wondering what the approach is for BMF?

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

Quote from: MoneyIsDebt on June 13, 2012, 10:28:11 PM

Turns out that in some browsers, the motion was hidden beneath the menubar.
I was able to vote now. (I think - clicking again lets me vote again.... hmmm)

That's just GLBSE's lack of voting confirmation...

MoneyIsDebt

hero member

Activity: 642

Merit: 500

Turns out that in some browsers, the motion was hidden beneath the menubar.
I was able to vote now. (I think - clicking again lets me vote again.... hmmm)

MoneyIsDebt

hero member

Activity: 642

Merit: 500

I can't see the motion on GLBSE. Not by clicking motions in the menu, or clicking "Old motions" on the BMF page?

Newar

legendary

Activity: 1358

Merit: 1001

https://gliph.me/hUF

Only noticed this motion by chance on GLBSE. Would be nice it there was a notification (icon on site and via email). Otherwise I would have never known.

Newar

legendary

Activity: 1358

Merit: 1001

https://gliph.me/hUF

Apple IPO: 22$, split three times since

finkleshnorts

sr. member

Activity: 336

Merit: 250

Quote from: ?? on ??

Quote from: GeoRW on June 02, 2012, 01:13:06 AM

I don't know if GLBSE supports this, but you may consider 1/10 share split. 1 BTC per share is too high. I believe you could sell more and have bigger trade volumes at lower price. You investors would benefit out of this as well. When they decide to sell their shares they will find more bidders.
BTW, do you plan to sell only those 10000 shares or you may issue more anytime you want to?

1 BTC is only $5. Apple is over $500 a share right now, so is Google. Microsoft, Adobe and Oracle all have share prices north of $25. While a high share price is indeed a deterrent if you only have a small amount of money to invest, it also suggests that the company has increased in value and is a worthwhile place to put your money.

I am not interested in issuing more shares yet. Once we're fully issued, a share offering would only make sense if we can place a large order at a discount to market price, so as to immediately increase our NAV. Such an issue would be announced ahead of time.

No, an arbitrary IPO price-per-share, as a means of suggestion, is meaningless to anybody who is deep enough into bitcoins to be buying and selling on GLBSE. This is the one reason you list to support your decision, and it just doesn't make a lot of sense to me. Nobody here is going to be "fooled" that the company has increased in value (I'm not even sure what you mean by this in regards to BMF) whether you chose 1 btc or 100 btc to be the price-per-share. This fund sounds really cool, and I think it is a great idea. I have been considering investing, but this answer was kind of a turn off for me frankly. I completely agree with GeoRW.

Newar

legendary

Activity: 1358

Merit: 1001

https://gliph.me/hUF

Quote from: ?? on ??

2012-06-02: We are holding a special promotional event. For the month of June only, we will pay out dividends approximately once every 24 hours, to promote the fund.

At what GLBSETime are the dividends paid?

GeoRW

sr. member

Activity: 350

Merit: 257

Trust No One

Quote from: ?? on ??

In other news, someone is selling out their holding of BMF. It's not me and I don't know who it is but I have my guess.

If you mean me, I never bought your bonds Cool

cst

member

Activity: 110

Merit: 10

The Cosmos doesn't care about you.

Quote from: ?? on ??

Hello, I'd like to make a quick announcement.

The news page (post #2) has been updated as follows:

2012-06-02: We are holding a special promotional event. For the month of June only, we will pay out dividends approximately once every 24 hours, to promote the fund.

The first such payment will go out in approximately 10 hours from the timestamp on this post. After June, dividends will return to their normal frequency. It's dividend madness! Compound like the wind, my brothers!

Almost like mining ;) this is going to be great :)

MoneyIsDebt

hero member

Activity: 642

Merit: 500

I like the daily dividends move. It's easier to gain confidence in a bond when you see regular dividend payouts, and that takes a while with weekly payouts.

GeoRW

sr. member

Activity: 350

Merit: 257

Trust No One

If you had lower prices people could easily reinvest their dividends into your fund. This way they may reinvest them into other assets and your fund will grow slower.

GeoRW

sr. member

Activity: 350

Merit: 257

Trust No One

I don't know if GLBSE supports this, but you may consider 1/10 share split. 1 BTC per share is too high. I believe you could sell more and have bigger trade volumes at lower price. You investors would benefit out of this as well. When they decide to sell their shares they will find more bidders.
BTW, do you plan to sell only those 10000 shares or you may issue more anytime you want to?

MoneyIsDebt

hero member

Activity: 642

Merit: 500

Can't believe I missed it because of glbse downtime today Sad

MoneyIsDebt

hero member

Activity: 642

Merit: 500

Just a comment on your website - I saw no direct link to your GLBSE page. It would be convenient to have one.
The page says "footer here" at the bottom - this might be a good place for it.

Sukrim

legendary

Activity: 2618

Merit: 1007

Quote from: ?? on ??

At least one company said, for example, that shareholders don't own hardware and in the next paragraph said that if the company liquidates it's hardware it will pay out the proceeds as dividend. This doesn't make sense to me.

As far as I understood that, they meant that you can not buy 10% of shares and then request to be sent 10% of their hardware in return. In the end you own the value of the hardware (as you get paid whe liquidating) but not the hardware itself. It's really badly worded, that's true...

MoneyIsDebt

hero member

Activity: 642

Merit: 500

Quote from: ?? on ??

You just have to watch out for the few who are.

That's what BMF is for - I can leave that to you Wink

MoneyIsDebt

hero member

Activity: 642

Merit: 500

Well, some make a point out of their assets being shares as in you're buying not only parts of mining output, but parts of the actual hardware. Which would make a difference if it were sold f.ex. And that it gives voting rights. The difference might be in the contract, and might be hypothetical, depending on the trustworthiness of the operator.

Topic: [GLBSE] Bitcoin Mining Fund (see post #2 for FAQ) - page 2. (Read 8122 times)