Topic: [GLBSE] Bitdust - Make your bitdust work for you - page 2. (Read 3508 times)

I can't take the time but I have this gut feeling that you complain about non-100% PPS bonds so I'll take your complaining with a grain of salt. Odd numbers don't matter to scripts, only humans.

Regarding discouraging individuals from holding these bonds for long durations, my goal here is not to create another mining company that directly competes with the more efficient operations out there such as YABMC. Instead, my goal is to compliment their services by giving their users a place to store their bitdust while waiting to generate enough to purchase something useful. Liquidity should be provided by users frequently buying in and selling out for short periods of time.

90% PPS, 110% PPS, 1% PPS, who cares?!

You could just offer 1% PPS of 1 MH/s instead of 100% PPS of 10 KH/s...

Odd numbers just make it more difficult for investors to calculate how much the "standard" of 1 MH/s would cost.
Also your calculations seem weird: Why do 1% of something generate completely different amounts of BTC and not just 0.01 * [revenue of 1 MH/s]?!

Also I don't get why people should be discouraged to hold 100 bitdust shares instead of 1 YABMC share for example. It would be even better, since there might be more liquidity.

Bitdust is a growing problem on the GLBSE.* Those fractions of a Bitcoin that are paid up as dividends from mining stocks/bonds and other investments just sit, gathering dust, instead of earning you more bitdust.

I propose to create a sub-1MH/s mining bond with the purpose of permitting owners of normal sized investment stocks/bonds to generate a small profit on their dividend bit dust. Below is a sample concept that I may move forward with if there is interest.

Normal mining bond.
1 share = 1.0 MH/s
1 MH/s/day generates 0.000012706447166.  BTC/day @ difficult = 1,583,178, blockreward=50 BTC
price/share = ~0.3 BTC.

Bitdust
1 share = 0.01 MH/s = 10 KH/s.
10 KH/s/day generates 0.000000127064472 BTC/day @ difficult = 1,583,178, blockreward=50 BTC
price/share = ~0.003 BTC

I am willing to put this together for fun. These bonds would not pay out at 100% PPS in an attempt to discourage individuals from holding these bonds for extended durations. I think something in the 80-90% PPS range will encourage people to pick up bigger bonds when they acquire enough bitdust to buy 1 MH/s or whatever is the entry-level bond value at the time.

I'll go about automating payments so that I can pay out on a daily basis. I have yet to decide on the amount of hashing power I would throw at this but my farm is currently averaging around 13-14 GH/s. I would doubt more than a few hundred MH/s of these 10 KH/s shares could be absorbed by the GLBSE but that's just me pulling numbers out of my.. hat. The point is though that this is essentially a mining bond and I've got plenty of hardware to scale if desired.

Thoughts?

*- may or may not be true. Who cares?

edit1: Changed 1 MH/s/day generated from 0.00063532235831 to 0.000012706447166.