Topic: MOORE: Mining Bond Beating the Moore's Law (Collecting Shareholder Data) - page 5. (Read 19155 times)

Best mining bond on the market.

Especially after I bought some at <0.45

Thanks, friedcat! You always find a way to positively surprise me again..

Now that just makes me as an investor feel all warm inside

Update

As everyone knows and mentioned several times before, the releasing date of Lancelot FPGAs is still unknown. And it is believed by me that at least one brand of dedicated mining ASICs will be in the market within this year. So I probably won't buy any kind of current generation's mining devices.

Therefore we have two choices now. One is to empower MOORE with my own ASIC project when it succeeds (estimated deploying time at October-November this year), the other is to buy BFL ASICs. In both cases I will continue to pay coupons and increase the hashrate steadily by 0.89% per week before suddenly pulling the hashrate up with the help of new mining rigs with a new execution of the new Liquid Helium plan.

The estimation of the first choice is about 200-300MH/(second*share).
The estimation of the second choice is about 50-100MH/(second*share).

Both are based on the current price level of Bitcoin. The 0.89% growth will still be maintained after the upgrade.

Considering the second choice, which is (in my opinion) worse, I will buy SC Singles or SC Mini Rigs after there's solid proof that they are already there. But I hope that our own ASICs will be manufactured and deployed smoothly so that both the upgrading date and the target hashrates will be much better.

Of course, some of the investors do oppose to both of the choices, or do not like the status quo. I'm buying back at 0.5BTC/s, which is the same as the historical highest market price. Don't panic sell at the price below 0.5 when the bid wall is taken down, if you don't need the money immediately. Because I will always buy back at 0.5, even if I discover that everyone is against the plan and wants to be out.

Thanks. I believe they will be dominating earlier than 2013 though.

That's my farm, mining for about a year, sold for half the buy-in price. 
2013 will be the ASIC year.

6th Payment

Calculation time: July 18, 04:17:09 forum time

Number of difficulty change: 1
Number of block reward change: 0

Time interval:

  Starting from: July 11, 03:27:20
  Ending at: July 17, 14:55:05
  Total time: 559665s
  Difficulty: 1,751,454.54

  Starting from: July 17, 14:55:05
  Ending at: July 18, 04:17:09
  Total time: 48124s
  Difficulty: 1,866,391.31

Hashrate of this week: 1.22605MH/s

coupon/share = (1.22605*10^6)/(2^32)*(559665*50/1751454.54+48124*50/1,866,391.31)=0.0049289

Number of Shares: 8404

Total Payment: 41.4224756

This was the mining farm of (finway) we original planned to use to pay the coupons while waiting for the expansion to Lancelot (https://bitcointalksearch.org/topic/fpga-development-board-lancelot-accept-bitsteam-developers-orders-79835). But since the Lancelot delivery was delayed indefinitely, and the ASICs are imminent, he sold the farm with half of the original price to buy BFL ASICs. I started my own ASIC project at roughly the same time, so we also suspended our deal.



I am now supporting about a half of the coupons with normal mining bonds of which the issuers plan to upgrade, and the other half with my own coins. This is also why I reduced the supply. Therefore in a word we are now still at stage-1 in the OP with "other assets" clause, and due to no appropriate hardware choice, we haven't switched to stage-2 yet.

If you consider this as a big problem, I am now placing the bid wall at 0.5BTC to buy back. But if you believe that my ASIC project will finally work out, or I will get the BFL ASICs after they really delivered something and increase the hashrate proportionally, you could hold MOORE for a little longer.

Could you post a picture of the material running plz? just to see my bitcoins generating others !
(and eventually the liquid helium machine that freeze the all world last time )

I believe they are covered by the Civil Law in most of the countries.

Furthermore there are quantitative differences: while it is hard to ensure the contracts of mining bonds and stocks, it is even harder to guarantee ours.


It is indeed a very good future direction. But as a small startup, we have to bootstrap well first and control our cost. So we have to admit that the options of mining ourselves and selling hashing power are not excluded in our first stage.

I guess it comes down to trust after all. You can probably say that with all the glbse assets since none are enforceable by any government entity.

Making just the chips and letting other companies deal with customer support and manufacturing devices is how I wish other ASIC projects did it to distribute the mining power around.

It is more complicated than that.

1. Other projects larger than $150k are all incremental, and investors could see their steady flows of return almost immediately. While our project is kind of "$150k or we could do nothing at all". The long waiting time is also a concern.

2. It is technically very hard to execute an actual shareholder ownership. For example, how could the shareholders prevent us from secretly produce a bunch of extra chips and mine and don't report to them? In normal mining companies, the shareholders have at least an estimation of how many mining devices are bought, then complain if the return doesn't match the capability of devices. But for our company, how could the shareholders watch and inspect us without a lot of energy?


It is possible. But I really have no idea how much could the bitcoin fund could raise, and whether our fiat investors will give us the approval. I will think more about it.

$150 k is not much when compared to other projects listed on GLBSE and  I think you would be surprised how much interest there is in a bfl competitor and even more so one that is shareholder owned.

Why not do both a bitcoin fund and a fiat one ? I would love to invest in that.

To complement

the best scenario will be: our ASICs arrive early, then our MH/$ and return becomes very attractive. In this case, I will boost MOORE with it, then sell part of our initial products' hashing power as MOORE before we are ready to sell physical devices.

The not-so-good condition is: our ASICs are late and the whole network is already dominated by other ASICs. In this case, I will also upgrade MOORE via Liquid Helium or MOORE will be devaluated.

The worst case will be that we fail to deliver our own ASICs. In this case, MOORE will also be upgraded, but via buying other people's ASICs.

No. MOORE is a bond, not a stock, so I have to take all the responsibility. Investing MOORE funds to ASIC manufacture is too risky.

ASIC building is costly, although not so crazy as I thought before. It has a long waiting time (several months of producing masks), and needs a large-ish fund (150k$ in total with our current estimation). Crowdfunding of such a project has not been done before, and is hard to do. Seeking real-world investors is put on a higher priority.

Are you using MOORE funds to fund the ASIC building company ? If not are you going to create another asset to do so ?

Thanks for your question.

The original plan was to raise the bitcoins of MOORE sales to buy Lancelot FPGAs to expand (https://bitcointalksearch.org/topic/m.940163). But the imminent ASICs and the delay of Lancelot (https://bitcointalk.org/index.php?topic=79835.220) made me suspend the plan. This is also why I reduced the supply, because otherwise I wouldn't be able to support the coupon with our existing hashing power.

The arrival of ASIC will make MOORE more valuable because we will empower MOORE with our own ASIC project (https://bitcointalksearch.org/topic/block-erupter-dedicated-mining-asic-project-open-for-discussion-91173). Before that, no more MOORE shares will be sold other than the existing open asks on GLBSE and the rest of the batch share sales in the OP. When in a very unfortunate situation where our own ASIC project doesn't work out, I will buy the best ASIC devices on the market.

This may be answered somewhere in this thread.

But are you doing the mining here?

How is the ASIC craze going to effect moore.

I own a few shares.. Just wondering.

5th Payment

Calculation time: July 11, 03:27:20 forum time

Number of difficulty change: 1
Number of block reward change: 0

Time interval:
  Starting from: July 4, 02:37:25
  Ending at: July 4, 11:37:21
  Total time: 32396s
  Difficulty: 1,726,566.56

  Starting from: July 4, 11:37:21
  Ending at: July 11, 03:27:20
  Total time: 575399s
  Difficulty: 1,751,454.54

Hashrate of this week: 1.21523MH/s

coupon/share = (1.21523*10^6)/(2^32)*(32396*50/1726566.56+575399*50/1751454.54)=0.0049132

Number of Shares: 8536

Total Payment: 41.9390752

5th Payment

Calculation time: July 4, 02:37:25 forum time

Number of difficulty change: 0
Number of block reward change: 0

Time interval:
  Starting from: June 27, 04:57:10
  Ending at: July 4, 02:37:25
  Total time: 596415s
  Difficulty: 1,726,566.56

Hashrate of this week: 1.20451MH/s

coupon/share = (1.20451*10^6)/(2^32)*(596415*50/1726566.56)=0.0048438

Number of Shares: 8397

Total Payment: 40.6733886