Topic: Jtme (Read 12323 times)
What's the plan for the GPU rigs post-shutdown? Sell them and use the coin to pay a dividend or sell them and use the coin to buy ASICs?
Sell to buy the next round of ASICs. However the 7970s (undervolted and underclocked) will be profitable longer then the others, so they will get sold last. Also it may be possible to turn a profit with the 7970s mining Litecoins once they are unprofitable mining BTC. I haven't looked into what card is most efficient for LTC mining, but I'd hazard a guess that it is a undervolted/clocked 7970.
Bleh, I wonder if its a software issue, you'd think 7970s having more cores would mine LTC faster
I dug around a little, it looks like some peeps are getting 7970s to perform for LTC. I also took a look at the LTC market, its pretty small, if even 10% of BTC hardware gets repointed at LTC, it will make it unprofitable.
This is assuming the price doesn't rise at all. Obviously that will not be the case if 10% of BTC hardware (i.e. GPUs) get pointed to LTC and it is unprofitable already.
People mining LTC back in April in May were considered mining at a "loss" although if they held their LTC for a few months they could have sold for at least 10 times it's value when they were mined.
People should think longer-term rather than mine today and sell today. It's not always the best way to be profitable. But to each his own.
https://forums.butterflylabs.com/showthread.php/16-Announcement-BFL-ASIC-Release-specifications
Woot!! +64Gh/s for us
Assuming BFL are being honest Woot!! +64Gh/s for us
The timing's a bit suspect, coming just after cablepair's announcement... Maybe my math is off, but isn't 195 GH/s / (542 + 1750) shares = 85 GH/s/share?
Don't use a calculator. Just look at those numbers and ask if they make sense. Sweeeeeeet
Just ordered one myself
What's the plan for the GPU rigs post-shutdown? Sell them and use the coin to pay a dividend or sell them and use the coin to buy ASICs?
Sell to buy the next round of ASICs. However the 7970s (undervolted and underclocked) will be profitable longer then the others, so they will get sold last. Also it may be possible to turn a profit with the 7970s mining Litecoins once they are unprofitable mining BTC. I haven't looked into what card is most efficient for LTC mining, but I'd hazard a guess that it is a undervolted/clocked 7970.
The new BFL FPGA single has a faster bitstream in it and runs kinda hot.. cgminer has halted a few times while running it. 
I put it on its face, hopefully that will help, I've read they run cooler when on their face.
Logo candidate?
Why don't you try different firmware? I put it on its face, hopefully that will help, I've read they run cooler when on their face.Logo candidate?
That or point a desk fan at it
SCAM SCAM SCAM
The owner has NO verification on GLBSE. ABSOLUTELY NONE. ZERO.
Bitcoin mining WILL NOT BE PROFITABLE in the future.
Incorrect spelling and grammar - probably ran by someone who is 16... another reason why there is NO VERIFICATION.
The owner has NO verification on GLBSE. ABSOLUTELY NONE. ZERO.
Bitcoin mining WILL NOT BE PROFITABLE in the future.
Incorrect spelling and grammar - probably ran by someone who is 16... another reason why there is NO VERIFICATION.
So says the guy selling "guides" to use paypal for BTC transactions for 5 BTC. Hello TROLL, welcome to the thread, thanks for the free bump. If you'd check this post "https://bitcointalksearch.org/topic/jtme-91374" in this thread you will see that your concern about verification has been addressed.
Anyway, thanks for the free advertising for my guide. If you want to trade with PayPal without the risk, I'll teach you how for just 5 BTC
. The askwall is now 1.07.
Get your cheap shares now!, not alot on the order book between current and 1.07.
Problem is that BTC appreciation has reduced the BTC value of the company's assets. What was the dollar price of the original IPO at the time? Get your cheap shares now!, not alot on the order book between current and 1.07
.42% in dividends in 9 weeks, one of the best deals on GLBSE.
Buy shares while you can.
The askwall will raise to 1.06 on Wednesday.
Wouldn't it be more helpful to sell on some of those shares at near to the price at which trades are actually taking place? That way JTME could bring in some fresh capital and make more ASIC orders or pick up some more cheap GPUs... Buy shares while you can.
The askwall will raise to 1.06 on Wednesday.
Also keep in mind that BFL specs are not confirmed yet.
It seems more like your trolling then being a concerned investor. Good thing silver ordered bASIC along with BFL, I find this investment to be a great alternative to others just ordering BFLs (nothing against BFL, I just don't want all my eggs in one basket).
It will be a partial Pirate pass thru at full rate. Half of the interest kept by the company, half to the shareholders. If Pirate defaults only some of the funds will be at risk. (If Pirate defaults before 7/23, everything to that point will likely be lost, the risk IMO of a default in the next 2-3 months is very low).
This alone should scare you away.
Best of luck with your endeavor!
Welcome new investors!
https://glbse.com/api/quantity_trading/JTME
still 542
Silverbox - I really enjoy the effort you put into this project, and you are of course entitled to your 25% cut, but:
The ratio of 600 paid owner shares vs. 542 public shares is quite unfair!
This will most likely ensure that the other 4,708 public shares will never be sold!
I urge you to limit your payout to 25% of public sold shares for future dividend payments.
Also this lead me to ask myself, what would be in the event of liquidation:
Your 1,750 shares vs. our 542 shares would mean that we'd only get about 0.20 BTC if you were able to get good prices for the Hardware.
Please give some transparency about the future development, so the remaining shares will find their new owners soon!
Kind regards
MoinCoin
I'm actually losing money at this point, even with taking profit on 600 shares. I had 3 gh operating that I put into the company when it was founded. I made ZERO BTC mining for 2 months on that gear. Now we are operating at 6.5 Gh/s and I'm taking approximately half of the profits, which is what I would have had if I had never started the company, and I would have the last 2 months of mining profits. Apparently you think its unfair for me to lose money and donate all my time to run the company..
I think a 1% rate of return with a large amount of ASIC gear in the pipeline (which when it arrives will earn us far more then 1% a week) and owning all the equipment is a GREAT deal for the investors, if you don't, your welcome to sell your shares.
If we had all our ASIC gear today, and difficulty was double what it is today. We would be making 25 times what we are now, thats 25% per week...
No other mining company that I know of has so little put in by the investors with such a huge amount of ASIC gear ordered.
So far 42% has been paid out in dividends to the Shareholders who bought on the day of the IPO. Again I know of no mining company that paid out 42% in the first 2 months...
I intentially frontloaded the dividends to attract investors, but our backend (when ASIC gear arrives) is even bigger.. Stick around, you won't regret it.
Well you attracted investors with high immediate profits, that are no longer there; sure, there is something else, but you can't expect them all to understand the paradigm shift immediately.
Maybe you could make a table comparing ordered megahashes for different companies, and showing in an immediate manner why this one will be more valuable than competitors when ASICs hit.
Welcome new investors!
https://glbse.com/api/quantity_trading/JTME
still 542
Silverbox - I really enjoy the effort you put into this project, and you are of course entitled to your 25% cut, but:
The ratio of 600 paid owner shares vs. 542 public shares is quite unfair!
This will most likely ensure that the other 4,708 public shares will never be sold!
I urge you to limit your payout to 25% of public sold shares for future dividend payments.
Also this lead me to ask myself, what would be in the event of liquidation:
Your 1,750 shares vs. our 542 shares would mean that we'd only get about 0.20 BTC if you were able to get good prices for the Hardware.
Please give some transparency about the future development, so the remaining shares will find their new owners soon!
Kind regards
MoinCoin
Really interested in this.
Personally, reading the presentation I simply assumed from the beginning that the plan was
- attract investors with crazy inflated returns
- dilute their shares to nothing or near
- ? ? ? ?
- profit!
so I profited from the high rates in time, and quickly liquidated after 8° dividend. But maybe he'll decide to take a different course of action, let's see.
Not bad!
I'm holding a few of your shares, 2.3% per week for a scheme that's not an elaborate ponzi is pretty good!
By the by, what do you think of this:
https://bitcointalksearch.org/topic/m.1157524
Could be worth acquiring one or two to reduce your exposure to rising difficulty post-ASIC?
@ $1069 each a 205BTC share issue would get two of them pre-ordered, 263Mhash/s per BTC looks pretty nice from here
I'm holding a few of your shares, 2.3% per week for a scheme that's not an elaborate ponzi is pretty good!
By the by, what do you think of this:
https://bitcointalksearch.org/topic/m.1157524
Could be worth acquiring one or two to reduce your exposure to rising difficulty post-ASIC?
@ $1069 each a 205BTC share issue would get two of them pre-ordered, 263Mhash/s per BTC looks pretty nice from here
2.3% a week is about to half. When we start recieving our BFL asics, its gonna be crazy high thu
Those are sweet! Just ordered one for the company! Now the company owes me around 80 btc. I'll have to do the math later
.We are still in IPO. As the funds from new investors come in we purchase equipment. Only 542 of the initial 5250 shares have been sold to date.
Not bad!
I'm holding a few of your shares, 2.3% per week for a scheme that's not an elaborate ponzi is pretty good!
By the by, what do you think of this:
https://bitcointalksearch.org/topic/m.1157524
Could be worth acquiring one or two to reduce your exposure to rising difficulty post-ASIC?
@ $1069 each a 205BTC share issue would get two of them pre-ordered, 263Mhash/s per BTC looks pretty nice from here
I'm holding a few of your shares, 2.3% per week for a scheme that's not an elaborate ponzi is pretty good!
By the by, what do you think of this:
https://bitcointalksearch.org/topic/m.1157524
Could be worth acquiring one or two to reduce your exposure to rising difficulty post-ASIC?
@ $1069 each a 205BTC share issue would get two of them pre-ordered, 263Mhash/s per BTC looks pretty nice from here
As a small holder I'd second taking a look and considering them!
Not bad!
I'm holding a few of your shares, 2.3% per week for a scheme that's not an elaborate ponzi is pretty good!
By the by, what do you think of this:
https://bitcointalksearch.org/topic/m.1157524
Could be worth acquiring one or two to reduce your exposure to rising difficulty post-ASIC?
@ $1069 each a 205BTC share issue would get two of them pre-ordered, 263Mhash/s per BTC looks pretty nice from here
I'm holding a few of your shares, 2.3% per week for a scheme that's not an elaborate ponzi is pretty good!
By the by, what do you think of this:
https://bitcointalksearch.org/topic/m.1157524
Could be worth acquiring one or two to reduce your exposure to rising difficulty post-ASIC?
@ $1069 each a 205BTC share issue would get two of them pre-ordered, 263Mhash/s per BTC looks pretty nice from here
Great how you handled the Pirate thing.
But now... next payment is the 8°, so, you will start getting paid on your shares. Fair enough, but, how many do you hold? Does this mean all the 7000 shares issued will be paid? Since now it's 2,1% over little more than 500 shares, interest would go to 0,15% if the number of "effective" shares is multiplied by 14.
But now... next payment is the 8°, so, you will start getting paid on your shares. Fair enough, but, how many do you hold? Does this mean all the 7000 shares issued will be paid? Since now it's 2,1% over little more than 500 shares, interest would go to 0,15% if the number of "effective" shares is multiplied by 14.
Maybe we could set up a savings account with hashking ( https://www.hkbtclending.com/ )? He pays 1% weekly with no lock in. Shame to see coins getting dusty
So, the moment of truth for the "getting lucky" thing has come
https://bitcointalksearch.org/topic/bitcoin-savings-and-trust-home-closed-50822
How many funds with him now?
(note that I no longer own shares, but your idea was original so I am curious about the outcome )
https://bitcointalksearch.org/topic/bitcoin-savings-and-trust-home-closed-50822
How many funds with him now?
(note that I no longer own shares, but your idea was original so I am curious about the outcome
) 
Refurb 40gb HD ordered. 1.36 BTC.
Since I purchased some shares I have to ask, why not save some watts and $ by running BAMT on a USB? Might not save enough for new boots, but may increase dividends a bit.
Oh and for the shoe enthusiasts.. I give you..
The new machine with a boot on it..
The new machine with a boot on it..
May I suggest investing in NYAN.C, insted of PPTs directly? As you can see (https://bitcointalksearch.org/topic/glbse-nyancat-financial-your-friend-for-life-see-post-2-for-faq-97178), there is a fairly good chance to get paid more than 7% (and more than 0% when default comes, also)
Just wondering, how much would a Pirate default somewhere this month cost us?
Today I decided to take out my calculator, and: at 7% a week, to generate 2,4 BTC last week you had to deposit around 35 BTC. A loss which would be covered with about four weeks of no dividends, if net mining revenue is 8,5BTC a week... which is not so bad as I feared, 4% is enough to take the risk after all
But are my calculations right?
Today I decided to take out my calculator, and: at 7% a week, to generate 2,4 BTC last week you had to deposit around 35 BTC. A loss which would be covered with about four weeks of no dividends, if net mining revenue is 8,5BTC a week... which is not so bad as I feared, 4% is enough to take the risk after all
But are my calculations right?
I'm on the fence, should we order a FPGA BFL single or more GPU gear??
Did you ever decide?
Does the gpu offer anything over a single?
I don't see the price per share as having any effect on the risk, lol
.I didn't say the price has an effect on the risk.
I'm saying the price is, to me, not worth the risk. And the market agrees. Over a full day after your IPO and only 50 BTC have been invested and those were all from the same person. Also the buy side is 10 at .1 = no demand.
Just sayin'
Funds will be held in Pirate pass thrus drawing interest until purchases of ASIC's are made.
And this is where you lost me. If I wanted to "hold" my funds in pirate I would.
So basically I'm at two HUGE risk factors? Pirate and "getting lucky" with ASIC?
You don't see 1 BTC as a little high for taking the risk we're taking?
So would it be fair to say that between now and October (or Nov, Dec, whenever).. that this operation will essentially be a Pirate Pass Through at half the return rate? Will the extra half be kept by the company or by you? If Pirate defaults, with the Mining Company be wiped out?
It is with great regret that I must announce JTME is closing.
Due to circumstances beyond the operaters control (GLBSE closing) we will be shutting down and selling off the equipment per the
contract.
A buyer has been found and the equipment sold.
The proceeds will be disbursed to the shareholders per the contract.
The process to identify shareholders is still unknown, once it is known, we will determine how to disburse funds.
12/5/12 I have received a list from Nefario, of the 542 outstanding non operator shares 441 are accounted for. I'll be sending out confirmation emails shortly.
12/6/12 Updated list, 493 account for of 542.
1/6/13 I received a complete list on 12/28/12 accounting for all 542 outstanding non operator shares. I have sent out email today to all 35 shareholders. If you were a shareholder and didn't receive a email, please contact me, otherwise your payments should be forthcoming later this week. Sorry for the delay, I've been very busy in the non BTC world.
Due to circumstances beyond the operaters control (GLBSE closing) we will be shutting down and selling off the equipment per the
contract.
A buyer has been found and the equipment sold.
The proceeds will be disbursed to the shareholders per the contract.
The process to identify shareholders is still unknown, once it is known, we will determine how to disburse funds.
12/5/12 I have received a list from Nefario, of the 542 outstanding non operator shares 441 are accounted for. I'll be sending out confirmation emails shortly.
12/6/12 Updated list, 493 account for of 542.
1/6/13 I received a complete list on 12/28/12 accounting for all 542 outstanding non operator shares. I have sent out email today to all 35 shareholders. If you were a shareholder and didn't receive a email, please contact me, otherwise your payments should be forthcoming later this week. Sorry for the delay, I've been very busy in the non BTC world.
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