Thanks for all your work, Meni.
+1
Topic: [GLBSE] PureMining: Infinite-term, deterministic mining bond (Read 39667 times)
Thanks for all your work, Meni.
It is done. The payments have been sent in transaction b9c7cd2a6192818c9c1e2b8824e62361477dfdaa8b340be8d492fd1aac601507.
Thank you everyone for your support throughout the many phases of this bond's 2-year life.
Thank you everyone for your support throughout the many phases of this bond's 2-year life.
it should be useful to continue to run PureMining in Colored Coins
just as promotion and test for Colored Coins
This is true. But in order to do a service to Colored Coins it needs to be done at a meaningful scale, which comes with a set of legal and operational challenges. Perhaps at some future time. just as promotion and test for Colored Coins
it should be useful to continue to run PureMining in Colored Coins
just as promotion and test for Colored Coins
just as promotion and test for Colored Coins
Thanks for everything, Meni. I will be happy to receive final payout as you calculated.
Sounds quite fair. Thanks for creating, (and maintaining and ending fairly) the most reliable instrument to have been a part of GLBSE.
Make it so Number One!
You have been as fair as anyone could have hoped for and I for one appreciate everything you have done... Good luck with all you do in the future and thank you for all your hard work.
Naelr
You have been as fair as anyone could have hoped for and I for one appreciate everything you have done... Good luck with all you do in the future and thank you for all your hard work.
Naelr
The difficulty is now so high that paying the coupons regularly is no longer worth the trouble, for me and I suspect also for the bondholders. I will therefore move forward with buying back the bonds.
The original buyback clause stated the price will be 120% of the GLBSE highest recent traded price. GLBSE no longer exists so that's irrelevant. However, I've noticed that during the time the bond was traded, it went for about 40% of the ELE (extrapolated lifetime earnings). Therefore I believe a buyback price of 55% of the current ELE is fair.
The formula for calculating the ELE for a 1 MH/s bond is
RemainingUnmintedBTC * Hashrate * SecondsInDay * DaysInTwoWeeks / (2^32 * 2016 * Difficulty) =
8439175 * 1000000 * 86400 * 14 / (4294967296 * 2016 * 5006860589) = 0.0002355
55% of that is 0.1296 mBTC per bond, a total of 2.0173536 BTC.
I intend to go forward with the payout in the next few days. If anyone has a reason why I should not, speak now or forever hold your peace.
The original buyback clause stated the price will be 120% of the GLBSE highest recent traded price. GLBSE no longer exists so that's irrelevant. However, I've noticed that during the time the bond was traded, it went for about 40% of the ELE (extrapolated lifetime earnings). Therefore I believe a buyback price of 55% of the current ELE is fair.
The formula for calculating the ELE for a 1 MH/s bond is
RemainingUnmintedBTC * Hashrate * SecondsInDay * DaysInTwoWeeks / (2^32 * 2016 * Difficulty) =
8439175 * 1000000 * 86400 * 14 / (4294967296 * 2016 * 5006860589) = 0.0002355
55% of that is 0.1296 mBTC per bond, a total of 2.0173536 BTC.
I intend to go forward with the payout in the next few days. If anyone has a reason why I should not, speak now or forever hold your peace.
November 26, 2013, 03:25:59 PM
I've been 'receiving' a dividend from puremining about once a week lately that never confirms. Any info available on this?
See for example, https://blockchain.info/tx/3da8b1ab5f02159b62db4048de2e0ba4e4636cb2ae17540b176bd17a06556db0 from 11/24 and unconfirmed
It's a known problem. Or at least, I know this transaction (from Nov 2) hasn't confirmed, I didn't know you get repeat notifications about it.See for example, https://blockchain.info/tx/3da8b1ab5f02159b62db4048de2e0ba4e4636cb2ae17540b176bd17a06556db0 from 11/24 and unconfirmed
The API call to blockchain.info that I used so far used their default fee, which apparently isn't sufficient for this transaction. I've since started paying a higher fee. If the tx doesn't confirm I'll send another tx for the payment, and I hope the unconfirmed one will be forgotten eventually.
November 26, 2013, 09:05:08 AM
I've been 'receiving' a dividend from puremining about once a week lately that never confirms. Any info available on this?
See for example, https://blockchain.info/tx/3da8b1ab5f02159b62db4048de2e0ba4e4636cb2ae17540b176bd17a06556db0 from 11/24 and unconfirmed
See for example, https://blockchain.info/tx/3da8b1ab5f02159b62db4048de2e0ba4e4636cb2ae17540b176bd17a06556db0 from 11/24 and unconfirmed
I was just wondering, I like to stay informed with PureMining and also since I'm invested in it lol 
So any new news? I knew you were talking about investing into ASIC's any news on that?
2 of the 3 BFL 500 GH/s rigs I ordered are now operational. Why do you ask?
So any new news? I knew you were talking about investing into ASIC's any news on that?
any new news?
Not at this time. 
any new news?
Meni's out of new news at the moment.
Care for some old news?
any new news?
Ok, thanks for the reply 
Also this might be a stupid question but why not buy ASICMiner equipment as the upgrade and sell the old hardware verse using BFL and their buy back program?
Also this might be a stupid question but why not buy ASICMiner equipment as the upgrade and sell the old hardware verse using BFL and their buy back program? Have you ever considered relaunching on BTC Trading Corp? https://btct.co
If I do relaunch, I intend it to be using a decentralized platform such as colored coins.
Have you ever considered relaunching on BTC Trading Corp? https://btct.co
Hi, so far you've been one of the most helpful, honest and profitiable (dividend wise) bitcoin venture I've put money into... Are you still waiting for a secure colored coin platform or similar before re opening your doors to more investors etc? I ask this because I'm interested in some more shares...But would also like the abimilty to easily liquify the shares as I see fit..So would only be comfortable trading through some stock exchange medium. Bitfunder doesn't float your boat? Anyway, thanks bye.
Bump.
Meni, should you find the time please let me know too, I'd be interested in buying in.
And thanks for your honesty and being an exception around here.
You're not just getting BTC, you're getting karma points from many of us.
All the best
M
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