Topic: [GLBSE] MMM Mining Investment GLBSE 4% Weekly Interest - page 3. (Read 7236 times)

 
This is the email response that I received as I am trying to get everything verified. So as you can tell GLBSE is getting in gear and checking them out later :-(. I am trying my hardest to get verified guys but he did tell me itd take a lil while. As always thank you to all my wonderful holders out there hopefully we can get past this block of not knowing each other well soon enough. Take care guys

It has been brought to my attention that there is a curiosity about what would happen to MMM investments if there was a fire, theft or act of god that came and destroyed what we are all working on. I would like to let you all know that back when I originally started bitcoin mining I had my insurance adjusted to incorporate a small home business paying up to 30,000 in lost equipment and 50,000 in lost wages with a combined maximum of 50,000. I have all documents to prove what was inside the house full serial numbers pictures stored on 2 hard drives my phone and the cloud so that I will always have access to them. This also would protect against theives as well because most try to pawn items and if I report the serial number I would re aquire the stolen items very quickly. Though I would like to explain the worst case scenario.

If something were to happen and my miners were utterly destroyed there would be to motions put up for holders to decide upon. The first would allow me to use the insurance money to  then rebuild exactly what we had and go on as normal. The second would request a lump sum payout equal to the amount for liquidation of assets. As for the dividends I would report to the insurance company my average daily income which would then be evenly divided over the share holders in a lump sum for a total of every day from the date of the incident to the date of the pay off. So if the average daily payoff was .0030 and it took 30 days for everything to be resolved then I would pay each holder .09. This dividend reimbursement would occur no matter which motion was passed for either decommissioning MMM or continuing on. I just wanted to let you all know that all of this is insured and safe. As always thank you for your interest.

Received! and more shares being purchased.

Thanks!

I just again paid the dividend for both the 24th and 25th in a single dividend along with the additional 5% as stated in the contract. It will show 2 dividend payments on the 26th 1 of which is for 1 day and the other is for 2 days. If GLBSE does not post the dividend payments and returns the money to my account everything will be held up as stated in the contract. If GLBSE continues with backlogged dividend payments than you all will receive an extra 2 dividend payments (Your lucky day) as I will not seek to have them refunded.

I just want to put forth my honesty and whether it be my fault or not do what I can to make my holders happy. Everything has been going amazing so far as I have two new systems up and up until this issue with GLBSE had not had anyone sell the shares. Though I see that has changed now, but I want to make you all aware that I am and will do everything I can and will not breach the contract in any way. Thank you again and my apologies for GLBSE's issues.

Ok guys dividends finally went through today. I have not received an email or reimbursement for the previous two days or what the issue was. Since todays dividend went through I will go ahead and pay the previous 2 days dividends with the extra percentage offered in the contract as it is not your fault. I will also post as soon as I hear a reply from GLBSE. Sorry again guys.

Behind on Dividends. What, 3 days? 2 days?

I have been receiving them from others on GLBSE.

Update?

I have entered the dividend to be paid twice now and nothing has gone through but apparently there wait is backed up. Sorry for the wait guys.

Just wanted to say my apologies for the late dividend payment. I had sent it in in the morning, but then the site went down and had never passed the dividend on to the holders. Thank you for your understanding.

Lol hosting mining gear would be interesting though I think that would point me in to many angels at once right now.

As for the gpu vs the bfl singles They can are less cost effective when electricity isn't included but the thing that worries me the most is resale value if anything were to happen with BFL or bitcoins. A GPU still has a huge market other than bitcoin miners though I am sure there value would fall but at least there would still be a market. Once I know more about the release of the Jalapeno and what their plans are then I will go more in that direction.

Thats a sweet deal and makes your returns a lot better.

You will be surprised how quickly you will need to expand to 15 rigs using GPU only but if bfl singles is the plan thats not a problem. 

If you can rent out other houses there might be a business in hosting mining gear for people since you can get them with electricity included ?  tl;dr bitcoin data centres 

We do have 3 ASIC BFL singles but they are at my parents house so I was not able to take a picture of those, but I will as soon as I get a chance. We are also on a stand still for buying anymore BFL singles until I learn a definite launch/production release of the jalepenos.

When we were looking for a place to rent back in May we planned ahead for using alot of power so we found one that has 2 240v circuits each rated at 25amps which were meant for large indoor air conditioners as well as each room is rated at 15-30amps at 120v. So as is we are perfectly set for power 6 rooms x 15amps 2 rooms x 20 amps 1 room x 30 amps. Each computer draws from 6-10 amps at 120v or 3-5 at 240v. As is we can expand to 15 rigs without a problem if that is the way that would be decided to go, but that depends on what BFL is doing. The biggest problem is heat and if we did expand to 15 rigs that would be almost 2 in every room (not including the bathrooms) Though at least for now as we add in equipment the temperature should be dropping outside so it should balance out but at 2 rigs per room we should still be able to keep it cool.

The house is rented to us with all utilities included and we made sure that there was no clause for how high the electricity could go and even had a lawyer check it out. It is being rented out by a company that goes around and buys up forclosed homes and then rents them out for pretty low prices with utilities included, now that sounds like a great gig. We are on a 24 month lease now whether they let us keep renew the lease after that with the electric bills as they are I don't know, but for the next 20 months were set.

Thanks for posting those.

It might be worthwhile investing some funds in bfl singles because they offer an upgrade path to ASIC. GPU mining  at that point will probably move to litecoin.

Do you have adequate electrical circuits at your current location to massively expand which needs to happen to keep up with difficulty?

When you say "free electricity" who actually pays the electrical bill and will they be happy with a  massive rise in usage?

There are links to pictures of the mining operation posted up just incase anyone didn't notice they are about 5 posts up. There is the ticker symbol as well as the date and stock exchange site in every picture for verification.

5mh/s is around .024 btc per week which would me 2.4% interest on a 1 btc share. Atm my shares are going for less than 1 btc which first off increases percentage right there. so .024 out of .8 is 3.3% interest.

But I would like to look at it as if the stock was worth 1 Btc as that is the goal, actually 1.1 btc. The way that I do mining is both Pay per block and Pay per share. If on a bad block (one that takes longer than the average number of shares based on difficulty) once the total number of shares hits the point at which it is equal to what the difficulty is at I then immediately change to Pay per share. Then if the block goes on for 10,000,000 shares I would still be earning the standard amount and still earn 20% of the blocks value that I would have earned if I had stayed using pay per block. Immediately as the block changes I switch to Pay per block that way if it is a great block ( on that takes less than the number of average shares based on difficulty) than I would earn the full percentage that I should be paid for that block. 

Anyways thats how I do it and I have always been able to make far more than if I had just left it on either Pay per share or Pay per block the entire time. This is what gave me the idea to offer that to my investors.

I do not pay electrical costs so that is not of concern and with all other maintenance and other fees that may arise are not the responsibility of the share holder.

The share holder earns either 5mhash/s daily profit or 1/1600th of the farms 8.2gh/s total revenue whichever is greater. The lowest that I should make in a day is 3.8 BTC but most often I will make 4-4.5 btc and I then payout the extra earnings to the share holders. Now even on the worst of days where I have to leave my farm on Pay per share all day long it will still make the 3.8 BTC which divided up pays each share holder there 5mh/s earnings no matter what. As was yesterday I only made the very low 3.8 btc and therefore paid out the earnings for 5mh/s to each share holder

Every other day this week so far I have been able to earn more than what would be average and have passed the earnings to the share holders.


Now to finally get to where the 4% comes in the minimum would be 2.4% if each share were at 1 btc at current difficulty. But since I pay whichever is greater (the 5mh/s or 1/1600th of 8.2gh/s farm revenue) and 50% of the time it will be higher on average then 4% would be a safe projected earnings. The 4% is not guaranteed as it is 2.5%-4% but it also isnt guaranteed that it would not be higher than 4% either. (Though I wouldn't expect it to happen often).

As well as the name of the game is expansion. The plans are to further grow the MMM and be able to produce more profits. And if so chosen by the holders after we have expanded if they wish to release more shares (that would fall under the same contract but different farm therefore not diluting the shares as they would all have equal payouts) then the process would continue

As is with the systems we have set up currently the 8.2gh/s farm which is paying share holders and the just about newly finished 2.4gh/s miner we will have more than enough to cover all expenses that may possibly incurred by paying the bonuses to the holders as well as pull in more revenue from that source to further expand.

I hope this answered your question.

Yes I know NOW and I wish I could change my ticker symbol because that is really bothering me. But I am not russian I am not dealing with millions of dollars. Do you think those guys are bitcoin mining?

5 MH/s produces ~0.02 BTC per week and that is before electrical costs, before the reward is cut in half, before your profit, before equipment losses/fees/outages/etc, before difficulty rises.  How exactly are you going to pay 4% interest?

http://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

https://lh4.googleusercontent.com/-5gUlFONqtz4/UDU_JtF4tlI/AAAAAAAAAAo/vzVxR4mMfk0/s640/MMM%2520013.JPG
This is an image of my basement which holds 2 mining rigs. The one on the left is 3x5970s putting out 2350mh/s the other is a 5970 2x5870s 1x5850 putting out 1650mh/s

https://lh5.googleusercontent.com/-T97uZPe6nDE/UDU_spp95iI/AAAAAAAAAAw/ys3GRsU7vYE/s640/MMM%2520017.JPG
https://lh3.googleusercontent.com/-A57NO9ka9Bk/UDU_3MUl6QI/AAAAAAAAAA4/fTX_-EW3SdY/s640/MMM%2520021.JPG
These are close ups of both the mining rigs in the basement.

https://lh4.googleusercontent.com/-VrjUlskIV0A/UDVAK9YPZwI/AAAAAAAAABU/-c5xLzdgkJg/s640/MMM%2520005.JPG
This is one of the 2 miners that are upstairs. It has 5x5850 putting off 1750mh/s

https://lh4.googleusercontent.com/-9OoqPioNmic/UDVAlaU1g3I/AAAAAAAAABs/YiXJFkvk1O4/s640/MMM%2520007.JPG
https://lh3.googleusercontent.com/-QHoYoEKjaIE/UDVAFYKI9fI/AAAAAAAAABM/qRQ3L9JeG8o/s640/MMM%2520009.JPG
This is the mining rig that is on the main floor which has 1x5970 1x5870 and 1x5850. It puts off 1550mh/s. Both pictures are of the same rig just different angles

https://lh3.googleusercontent.com/-o8_FSD8w9qI/UDU_8F_NwEI/AAAAAAAAABE/_jEwIPMQmgU/s912/Mmm2%2520001.JPG
And finally the 2nd mining rig that is upstairs. This one has 3x5870s and puts of 1250 mh/s

All together everything puts off 8.55gh/s but I figured allowing one card as backup in case anything ever happened would allow share holders to be better off.
The new rig is being built as we speak and I will put pictures up of it as soon as were done as well as specs. The new rig will be for our income as well as to cover any days where the current farm is not able to pay the bonuses. It should be around 2300-2500mh/s but we'll see how strong the cards are.
 
I really hope this settles some skeptics we're here to work WITH you and and make a profit TOGETHER. I believe you as the holder deserve more of the profit that I am making I just didn't know trying to offer you more would cause backlash on us. Take a look verify crunch some numbers see that I am telling the truth. Remember that the most important thing to us is YOU. You determine the share value and that fits in to our goals drastically. As when we expand and release more share (whifh stay under the same contract but will be shares for the new farm as to not dilute the value of the share) it again all depends on what you set the value of us at and the higher you think we are worth the more money we make. It all works as a big circle.

https://www.glbse.com/asset/view/MMM

No the share holder is purchasing rights to the current farm of 8.2 gh/s as stated in the contract. As we expand and get to 16gh/s then there will be a motion for the holders to vote on on whether they wish to allow me to release more shares for the rights to the new farm. Any new shares released would fall under the exact same contract. i.e. 5mh/s minimum or 1/1600th of the revenue produced from the particular farm in which they are purchasing shares in.

I completely agree with you on there is room to give more to the share holders. As things are people are charging you $10 or 1 BTC roughly per share which makes about 1.5% per week. If you were to take the same money and invest in your own mining rigs you could easily get 15mh/s for $10 as I found it costs me about $800-$1000 per 1500mh/s +/- 10%. The difference being is when you buy a share you can sell it at any time and get your money out as well as not have to deal with the expenses of running things. So of course it would not make since to sell off shares that would equal out to what my current investment cost, but it does make since to allow those who wish to earn money along with me the right to there fair share.