[GLBSE] MergedMining 2.0 - page 2. | Bitcointalksearch.org

zapeta

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Quote from: ?? on ??

I am actively trying to work out a solution with likuidxd to keep this company running as an investment fund. I suggest shareholders weigh in on their feelings about that plan, or if you would prefer to receive a final dividend from equipment sales and close the company.

Depends on the details. A lot of people have tried running an investment fund and many of them were not very successful. Gamma Bitcoin Fund just closed up shop today it seems, and Peter Lambert ran several funds that eventually imploded (although I'm not sure if he just skipped town with the BTC or just decided to walk away when he couldn't sell the "assets" he had on GLBSE). There may have been others. Due to all of that, I'm not interested in being invested in an investment fund, just the option that provides me the greatest return. If liquidation provides a return that you are willing to beat with your buyout, I'd be for it. If not, I'd rather just receive the liquidation dividend.

matthewh3

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Quote from: ?? on ??

Quote from: matthewh3 on October 02, 2012, 03:30:02 PM

Which is very similar to what RSM was offering.

I agree they are very similar approaches. There are some things to consider though.

1) I created MergedMining and believe shareholders would prefer me taking control again.
2) I am capable of displaying real time automated statistics that would make this the most transparent fund available.
3) Emphasis would be on growing share value and not paying dividends.
4) I would be investing in different operations and not just funneling BTC to my own company.

While'll agree on three of those points but RSM's takeover would be a dual aproach. In paying MergeredMining shareholders a 50% dividend and reinvesting the other 50% in profit bearing assets for MergedMining growth. Plus you can't disagree that at 124(MH/s) per BTC0.30 invested into RSM from MergedMining is not a bad deal.

likuidxd

sr. member

Activity: 476

Merit: 500

Quote from: ?? on ??

was there a motion ?

what is the agreed price the hardware is being sold for ?

No there was no motion. Hardware will be sold for a fair market value, total has not yet been agreed upon.

I have received PMs concerned about this being called a 'scam'...

Quote from: GLBSE Contract

The purchaser of this certificate (shareholder), is the owner of one share of MergedMining - a mining company seeking to utilize the "Merged" mining technique to maximize investment returns. As a shareholder, you agree to the following terms:

1) All utility/equipment costs and BTC/NMC fees associated with the mining and sale of NMC & BTC produced by the mining operation will be paid before dividends.

2) Hash rate and payouts will vary greatly depending on the rate at which blocks are found, equipment is added, & the network being operational (i.e. power outages, network attacks, etc).

3) Dividend payouts will be determined by feedback from our shareholders.

4) MergedMining has the right to issue more shares if reasonable opportunities are available to expand the mining operation.

5) Mining will occur at a pool and using a method chosen by the MergedMining operator.

6) MergedMining holds the right to terminate this contract at any time for any reason.

7) Upon termination of this contract, MergedMining will liquidate all equipment purchased using funds generated from sales of MergedMining shares and use the proceeds to buy back outstanding shares or reimburse standing shareholders through a dividend.

I am well within my contract.

I'm sorry it's over.

matthewh3

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Quote from: OgNasty on October 02, 2012, 03:03:27 PM

Quote from: Zillions on October 02, 2012, 02:39:44 PM

Yes please OgNasy take back over. I only was able to buy into Merged about a month ago because relativaley speaking Nasty was too expensive entry price.

If you did would you be folding into Nasty? or would you stay seperate?

If I were to take this back over, I would put up a motion to turn this into a bitcoin mining investment fund instead of a mining operation. I would arrange a share swap with NASTY to give MergedMining some immediate income and give NASTY ownership exposure to other mining operations. This would require passing motions from both sets of shareholders. MergedMining would then act as the investment arm for NASTY, so growing the portfolio's holdings would be the #1 goal. I would also set aside funds from the sale of MergedMining's equipment to put up buy orders for those who want to sell their position.

I think I would be able to provide the most transparent investment fund on GLBSE with a real time automated display of the fund's holdings and NAV displayed right on the thread. I think this would give shareholders far more value than the proposed dividend plan.

Which is very similar to what RSM was offering. Although if MergedMining was to bring about ~$11,000 of bitcoin into RSM then RSM could pay MergedMining over 124(MH/s)per share it buys at BTC0.30. Which means RSM would be giving MergedMining over 377(GH/s) worth of shares for ~$11,000 if MergedMining liquadtion could bring about that much. So then RSM would be operating at 720(GH/s)over ~5800 shares and as RSM is going to save 50% of profits into buying more assets then it wouldn't be long until RSM bought its first BFL-SC-MiniRig. Which would greatly increase the (MH/s)per share ratio.

OgNasty

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Quote from: Zillions on October 02, 2012, 02:39:44 PM

Yes please OgNasy take back over. I only was able to buy into Merged about a month ago because relativaley speaking Nasty was too expensive entry price.

If you did would you be folding into Nasty? or would you stay seperate?

If I were to take this back over, I would put up a motion to turn this into a bitcoin mining investment fund instead of a mining operation. I would arrange a share swap with NASTY to give MergedMining some immediate income and give NASTY ownership exposure to other mining operations. This would require passing motions from both sets of shareholders. MergedMining would then act as the investment arm for NASTY, so growing the portfolio's holdings would be the #1 goal. I would also set aside funds from the sale of MergedMining's equipment to put up buy orders for those who want to sell their position.

I think I would be able to provide the most transparent investment fund on GLBSE with a real time automated display of the fund's holdings and NAV displayed right on the thread. I think this would give shareholders far more value than the proposed dividend plan.

Zillions

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Yes please OgNasy take back over. I only was able to buy into Merged about a month ago because relativaley speaking Nasty was too expensive entry price.

If you did would you be folding into Nasty? or would you stay seperate?

OgNasty

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I would also like to explore the possibility of keeping MergedMining running in some fashion.

matthewh3

legendary

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Quote from: zapeta on October 02, 2012, 11:55:26 AM

Quote from: matthewh3 on October 02, 2012, 11:44:42 AM

Rather than paying out one big dividend to shareholders for MergedMining assets you sell it could be used it to buy into RSM - (https://bitcointalksearch.org/topic/796com-redstarminingcom-the-oldest-public-mining-security-150ths-63257) and RSM could pay MergedMining shares for there BFL-SC-Single upgrades and any other BFL's. MergedMining would then receive dividends from the RSM shares it holds. Which could be paid out and/or used as MergedMining shareholders see fit. I'd like to take over MergedMining and with the money it receives from the RSM shares it would hold invest 50% into other mining companies with a strong organic growth plan and pay the other 50% out as a dividend. These are just ideas I'm putting forward if I was to take over MergedMining and keep it running. Any future decisions after I'm CEO would have to be decided by a motion of MergedMining shareholders. Also we would have to arrange a way for the old CEO to be paid off and for me the new CEO to get paid for running MergedMining.

Anyway these are just ideas I'm throwing out to the MergedMining CEO and shareholders if they want me to take over there mining company by RSM buying it out. Then continuing MergedMining as an investment fund with its main income from its RSM holdings at first.

Thanks,

Matt (CEO of RSM)

I'd much rather get the special dividend than shares of RSM, as I would be able to invest that in any company I wanted to. Plus, if he's already received an earnest payment for the assets it means the sale is essentially a done deal.

I could keep MergedMining running and grow it with the money it makes off its RSM holdings. What I'd like to do is pay out 50% of the money the RSM assets make and invest the other 50% of money it makes into other GLBSE shares. That could be decided with the help of MergedMining shareholders. MergedMining shareholders would receive more money than the one off final dividend. Even if a deal has been brokered to sell all the BFL orders and equipment. RSM could pay MergedMining value of any coin it receives in shares of ASIC's that RSM buy's. RSM could pay MergedMining ~350 shares for every BTC110.00 it receives which would be used to buy RSM more BFL-SC-Singles. RSM is already offering 92.3(MH/s) per share and this ratio would only increase with any money/assets received from the MergedMining take over. So this is in effect MergedMining receiving >(100MH/s) per RSM share for every BTC0.30 of investment RSM receives from the MergedMining takeover.

zapeta

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Activity: 180

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Quote from: matthewh3 on October 02, 2012, 11:44:42 AM

Rather than paying out one big dividend to shareholders for MergedMining assets you sell it could be used it to buy into RSM - (https://bitcointalksearch.org/topic/796com-redstarminingcom-the-oldest-public-mining-security-150ths-63257) and RSM could pay MergedMining shares for there BFL-SC-Single upgrades and any other BFL's. MergedMining would then receive dividends from the RSM shares it holds. Which could be paid out and/or used as MergedMining shareholders see fit. I'd like to take over MergedMining and with the money it receives from the RSM shares it would hold invest 50% into other mining companies with a strong organic growth plan and pay the other 50% out as a dividend. These are just ideas I'm putting forward if I was to take over MergedMining and keep it running. Any future decisions after I'm CEO would have to be decided by a motion of MergedMining shareholders. Also we would have to arrange a way for the old CEO to be paid off and for me the new CEO to get paid for running MergedMining.

Anyway these are just ideas I'm throwing out to the MergedMining CEO and shareholders if they want me to take over there mining company by RSM buying it out. Then continuing MergedMining as an investment fund with its main income from its RSM holdings at first.

Thanks,

Matt (CEO of RSM)

I'd much rather get the special dividend than shares of RSM, as I would be able to invest that in any company I wanted to. Plus, if he's already received an earnest payment for the assets it means the sale is essentially a done deal.

matthewh3

legendary

Activity: 1372

Merit: 1003

Rather than paying out one big dividend to shareholders for MergedMining assets you sell it could be used it to buy into RSM - (https://bitcointalksearch.org/topic/796com-redstarminingcom-the-oldest-public-mining-security-150ths-63257) and RSM could pay MergedMining shares for there BFL-SC-Single upgrades and any other BFL's. MergedMining would then receive dividends from the RSM shares it holds. Which could be paid out and/or used as MergedMining shareholders see fit. I'd like to take over MergedMining and with the money it receives from the RSM shares it would hold invest 50% into other mining companies with a strong organic growth plan and pay the other 50% out as a dividend. These are just ideas I'm putting forward if I was to take over MergedMining and keep it running. Any future decisions after I'm CEO would have to be decided by a motion of MergedMining shareholders. Also we would have to arrange a way for the old CEO to be paid off and for me the new CEO to get paid for running MergedMining.

Anyway these are just ideas I'm throwing out to the MergedMining CEO and shareholders if they want me to take over there mining company by RSM buying it out. Then continuing MergedMining as an investment fund with its main income from its RSM holdings at first.

Thanks,

Matt (CEO of RSM)

likuidxd

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Activity: 476

Merit: 500

I have not gone through and cataloged everything yet but this list is fairly accurate.
https://docs.google.com/spreadsheet/ccc?key=0ArSjGzOoETB3dGJITmF4UjRmb1hNNVllR25zVkp1d1E#gid=0

A buyer has come forward and will be purchasing this entire lot some time in the next week or two. An earnest payment has been made. As far as the upgrades go, all 9 SC upgrades I had came out of my pocket and I was hopeful that I would be reimbursed up to 60% for these. That never happened and because of other things I no longer had the time to seek out investors privately. These upgrades have since fallen to the wayside.

zapeta

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Quote from: likuidxd on October 02, 2012, 09:01:29 AM

Regretfully MergedMining will be closing its doors for good this Saturday, 10/02/2012. A dividend will be payed for this weeks mining efforts and the power will be switched off. As many may have noticed, I no longer have the time needed to properly maintain our current hardware, seek new investors and pay dividends in a timely fashion.

Current hardware used for MergedMining will be sold and funds released to investors as a dividend payment.

I'm sad to see this shutting down. A few posts ago you mentioned that there were 8 5970s, and 9 BFL singles and 3 of those had upgrade orders to Single SCs. Can you please post a list of assets that will be liquidated?

likuidxd

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Merit: 500

Regretfully MergedMining will be closing its doors for good this Saturday, 10/06/2012. A dividend will be payed for this weeks mining efforts and the power will be switched off. As many may have noticed, I no longer have the time needed to properly maintain our current hardware, seek new investors and pay dividends in a timely fashion.

Current hardware used for MergedMining will be sold and funds released to investors as a dividend payment.

likuidxd

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Rise in difficulty, that is all that was mined

Zillions

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Call me crazy but would it be possable to Merge in Litecoins to this operation? That way when asic bombs drop there will be less fallout?
From what I've been reading (I'm by no means an expert yet) it should be possable to run all 3 "scripts" side by side.

likuidxd

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Activity: 476

Merit: 500

Very happy to announce that we are back up to 10GH/s!! With the help of newly received BFL singles we are once again at peak performance!

Our current hardware dedicated to MM2.0 consists of 9 BFL singles and 8 HD5970s.
You would be correct in thinking our current hashrate is a bit low. I am currently working to tweak the 9 finicky BFL Singles to work at their peak performance our server environment. As I stabilize them all our performance will grow.

Upgrades to BLS Single SCs have been purchased for up to 3 of the singles currently in operation, with the ability to upgrade more (or all). I cannot speculate as to when the ASIC hardware will ship nor can I tell you where we are in line as these upgrades were not purchased using the BitPay system.

~~There will be two new motions in the next 24 hours for current holders to address concerning remaining GPU hardware and upgrade options.~~

likuidxd

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Activity: 476

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Dividends Paid:
2012-07-21 10:41 34.623 25000 0.00138492

likuidxd

sr. member

Activity: 476

Merit: 500

Dividends Paid:
2012-07-14 12:30 37.2645 25000 0.00149058

likuidxd

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Activity: 476

Merit: 500

Quote from: OgNasty on July 10, 2012, 05:41:23 PM

Glad to hear it. Nice to see you've nearly doubled the dividend per share since taking over as well. Nice work.

Thank you OgNasty

OgNasty

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Quote from: likuidxd on July 09, 2012, 08:42:35 PM

80% of the hardware voted to be sold has been sold. More exciting news on our mining power coming in the very near future.

Glad to hear it. Nice to see you've nearly doubled the dividend per share since taking over as well. Nice work.

Topic: [GLBSE] MergedMining 2.0 - page 2. (Read 5575 times)