Topic: [GLBSE] YABMC Growth - page 2. (Read 3155 times)

That seems the case, but I'd like it confirmed for the sake of my paranoia.

Some notice would have been nice about the askwall, but I can understand the decision. The market is quickly becoming saturated; I suspect they didn't want to delay release any more than necessary.

Well, to me it only seems that the issuer can stop mining if he wants to - however "The holder of this bond will receive as coupons a number of bitcoins equivalent to 100% PPS output of ONE MILLION HASHES PER SECOND for as long as they hold the bond."

This would mean I'd still get paid, even if the miners aren't running. He doesn't have to keep his rigs running at a loss though.

The giant askwall is really not nice at all, especially as it came on such short notice and without warning.

With multiple-location mining, how will the clause in the YABMC contract for ceasing mining if it becomes unprofitable work? Based on location or an all-together average? And would this cause payouts to cease?

Sukrim,

Yes - askwall in place for now...

Discounts are available for bulk buys as noted.  We do have the ability to scale up based on demand.

Mini-Rigs are part of the puzzle for sure in addition to other FPGA (and eventually ASIC) solutions.

Looking forward to continued support 

Giant askwall is up and running, huh?
Might be some nice profit for people who still want some 0.3 per MH/s shares.

The hashing power is planned to come from Minirigs I suppose?

interesting

sub

sounds like an interesting idea.

Frequently Asked Questions:

The hashing power is planned to come from Minirigs I suppose?
Actually a mix - MR is part of the equation along with a stack of equipment from our existing farms.  There are a few other items around FPGA that will be used too.

With multiple-location mining, how will the clause in the YABMC contract for ceasing mining if it becomes unprofitable work? Based on location or an all-together average? And would this cause payouts to cease?
The responsibility is to pay the bond holder irrespective of mining.  We have worked through this point in some detail as we have different cost structures, equipment mixes and even seasons.  Partly why we have put the current mix of people together is to ensure financial strength to back the bonds.

There doesn't seem to be much liquidity, most history under or well under 50 shares traded, a couple of days about 100 over the last month & on only one day 180 or so, at present under 50 shares being bid for - if I were to buy a lot it doesn't look like I would be able to sell anywhere near the offer price or even at all unless something changed or I have misunderstood how this works.
Up until now YABMC was a 5000 bond issue, and as a smaller mining company did not have the profile of something like PureMining or GigaMining.  Also, 60% of the bonds were initially held by one person.  By bringing scale to YABMC we expect a larger number of bond holders and some will choose to hold for the long term and some will want to exit at some stage.  We can not predict the future price and liquidity with certainty, but that is true of all of the other GLBSE companies also.

YABMC is expanding.  

Many people want the benefits of mining without the hassle, and want to be part of something with scale.  Therefore, we have combined the resources and skills of JWU42, HashKing and PatrickHarnett.  Collectively more than three years mining experience and with significant combined assets, the expanded YAMBC will be a multi-location mining operation with more than 1% of network hashing power.

Our existing mining resources are committed to this venture along with several large items of equipment that will complement existing mining hardware.
The existing YABMC is issuing additional securities to bring 150Ghash of bonds to the market, and with scope for a further 100Ghash if required.
On market (GLBSE) sales can take place at 0.3BTC per Mhash, and volume discounts apply for off-market transactions for a minimum 1,000 bonds or for 10,000 or more.

This is a major initiative with serious financial backing underwriting payments.  There are still good volumes of bonds available and we are adding equipment progressively as was originally planned.

Edits and updates:
1: The latest coupon payment has gone out to investors holding over 30Ghash of bonds.
2: Latest difficulty has fallen around 10% to 1.59M from 1.73M.
3: We are planning on moving to more frequent coupon payments either weekly or two weekly and are confirming the change with the exchange.