📈 NastyFans: The Bitcoin Enthusiast Fan Club (est. 2012) - page 199.

Bastone

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Quote from: Bastone on September 30, 2012, 01:19:29 AM

So then the cap for dividend payments to shareholders is 20Mh/s per share. The excess will be used for electricity and buybacks.

There is no "cap" and seeing as though there are only 25,000 shares and more than 500,000MH/s currently on order, without a motion passing with a 66% 'yes' shareholder vote to issue more shares, the MH/s per share is guaranteed to exceed 20MH/s.

I'm still completely confused as to how this works, could you please rewrite the OP to show how much you payout? Do you payout 100% of your gear to 25,000 shares (with 18k of them held by the company)? Do you payout 20Mh/s per share and keep the rest for electricity (as the OP states)?

kuzetsa

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Quote from: Bastone on September 30, 2012, 01:19:29 AM

So then the cap for dividend payments to shareholders is 20Mh/s per share. The excess will be used for electricity and buybacks.

As I understand, no such cap exists. The company simply owns shares in itself. The rest are "outstanding shares" which pay out dividends.

Bastone

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Quote from: OgNasty on September 30, 2012, 01:08:50 AM

Quote from: Bastone on September 30, 2012, 12:33:11 AM

How will you pay for electricity, if you pay 100% to the shareholders?

The quote below is from the thread FAQ. Basically, the way I'm planning to implement it is like this... Once we have our equipment in place and have exceeded the 20MH/s per share goal, shares still held by the company will begin being placed in a separate account, with dividends used to pay electricity costs and buy more shares on the open market. This should allow NASTY to remain free of operator costs & electricity costs, while also providing an ongoing demand for shares and not dilluting the market.

Quote from: OgNasty on June 10, 2012, 08:31:41 PM

HOW CAN YOU PROVIDE FREE ELECTRICITY?
I intend to purchase more than 20MH/s in mining equipment for each share sold. That surplus in power will provide an ongoing means to pay electricity costs for the operation.

So then the cap for dividend payments to shareholders is 20Mh/s per share. The excess will be used for electricity and buybacks.

Thanks for the information. The OP is correct then.

OgNasty

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Quote from: Bitcoin Oz on September 30, 2012, 01:13:34 AM

By growth fund I meant keeping a portion of dividends to buy more equipment and growing the company. I didnt mean holding shares which is worse than just holding bitcoins. Besides, you would be better off buying back your own shares than investing in other companies.

I don't like the idea of keeping a portion of the dividends. I would like to continue to pay out 100% of the coins mined by this operation to shareholders. Each shareholder could choose to use their dividends to buy more shares on their own if they so please, thus putting this decision in their hands.

kuzetsa

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Quote from: Bastone on September 30, 2012, 12:33:11 AM

Quote from: ?? on ??

Quote from: Bastone on September 30, 2012, 12:23:43 AM

So will you pay more then 20Mh/s per share? or not?

I will pay more than 20MH/s per share if we have more than 20MH/s per share operating. I will not be dumping 18,000 shares on the market at once, so there will be a transitional period where it would be reasonable to assume that more than 20MH/s per share in dividends will be paid.

How will you pay for electricity, if you pay 100% to the shareholders?

The 7k or so shares sold since the IPO generated enough BTC capital (when converted to fiat currency) such that the company could (pre) order somewhere on the order of 2x the required mining hardware in order for the shares to all produce 20 MH/s each.

As I understand there are still another 18k shares owned by the company or something like that.

Maybe some combination of the two is how the electricity is paid for?

I can't say for certain, but I think I even saw something like that mentioned back in the first half dozen pages of this thread. I could be mistaken, but I'd rather let someone else dig it up or let OGNasty explain personally.

Edited to add:

HAHAHAHAHA it was posted above while I was typing and proofreading this long-ass post. Thanks OGNasty.

Bitcoin Oz

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Wat

Quote from: OgNasty on September 30, 2012, 01:08:50 AM

Quote from: Bastone on September 30, 2012, 12:33:11 AM

How will you pay for electricity, if you pay 100% to the shareholders?

The quote below is from the thread FAQ. Basically, the way I'm planning to implement it is like this... Once we have our equipment in place and have exceeded the 20MH/s per share goal, shares still held by the company will begin being placed in a separate account, with dividends used to pay electricity costs and buy more shares on the open market. This should allow NASTY to remain free of operator costs & electricity costs, while also providing an ongoing demand for shares and not dilluting the market.

Quote from: OgNasty on June 10, 2012, 08:31:41 PM

HOW CAN YOU PROVIDE FREE ELECTRICITY?
I intend to purchase more than 20MH/s in mining equipment for each share sold. That surplus in power will provide an ongoing means to pay electricity costs for the operation.

Quote from: Bitcoin Oz on September 30, 2012, 12:47:54 AM

Have you considered implementing a growth fund for new equipment purchases to offset rising difficulty and keep a stable dividend ?

I don't see why a portfolio held within the NASTY account couldn't be established if that is something shareholders would like to have. That would put me in the position of a fund manager though, and would expose NASTY shareholders to other operations. It would most definitely require a motion and further discussion.

By growth fund I meant keeping a portion of dividends to buy more equipment and growing the company. I didnt mean holding shares which is worse than just holding bitcoins. Besides, you would be better off buying back your own shares than investing in other companies.

OgNasty

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Quote from: Bitcoin Oz on September 30, 2012, 12:47:54 AM

Have you considered implementing a growth fund for new equipment purchases to offset rising difficulty and keep a stable dividend ?

I don't see why a portfolio held within the NASTY account couldn't be established if that is something shareholders would like to have. That would put me in the position of a fund manager though, and would expose NASTY shareholders to other operations. It would most definitely require a motion and further discussion.

Bitcoin Oz

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Activity: 686

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Wat

Quote from: ?? on ??

Quote from: Bastone on September 30, 2012, 12:23:43 AM

So will you pay more then 20Mh/s per share? or not?

I will pay more than 20MH/s per share if we have more than 20MH/s per share operating. I will not be dumping 18,000 shares on the market at once, so there will be a transitional period where it would be reasonable to assume that more than 20MH/s per share in dividends will be paid.

Have you considered implementing a growth fund for new equipment purchases to offset rising difficulty and keep a stable dividend ?

Bastone

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Quote from: ?? on ??

Quote from: Bastone on September 30, 2012, 12:23:43 AM

So will you pay more then 20Mh/s per share? or not?

I will pay more than 20MH/s per share if we have more than 20MH/s per share operating. I will not be dumping 18,000 shares on the market at once, so there will be a transitional period where it would be reasonable to assume that more than 20MH/s per share in dividends will be paid.

How will you pay for electricity, if you pay 100% to the shareholders?

Bastone

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Quote from: OgNasty on September 30, 2012, 12:18:46 AM

Those are the stated goals. However, the MH/s per share could increase significantly while buyers are found for the additional shares hitting the market. Dividends during this period should be extremely high due to being at the front of the line for ASIC miners, which should allow us to exploit a low difficulty, as well as a potentially higher MH/s per share while buyers are found. That is the "intrinsic bet" MoinCoin mentioned.

So will you pay more then 20Mh/s per share? or not?

OgNasty

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Quote from: ?? on ??

But did the new orders for the BASICs came out of your pocket and the company owes you?

The company doesn't owe me anything. 100% of all mining proceeds will continue being paid to shareholders.

Bastone

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Quote from: OgNasty on September 30, 2012, 12:00:03 AM

The end goal is to provide 20MH/s per share as stated in the contract. It will be require some management on my part to go from the current 1MH/s per share FPGA goal to the 20MH/s per share ASIC goal as we start massively increasing hashing power. Investor demand will ultimately determine the rate at which the MH/s per share amount is adjusted. There is no way to say exactly how many shares will be on the market when the ASICs arrive, but I will try to keep things orderly, and keep the share count down until the ASICs arrive.

So this is 20Mh/s per share, once ASIC's have arrived and 1 MH/s per share until then.

Is 20Mh/s for .37 BTC a share a good price?

OgNasty

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Quote from: ?? on ??

Agreed - OP needs an update on projected payouts (liabilities too?)

It is impossible to determine the projected payouts at this time. Difficulty, outstanding share count, & hash rate are all going to change significantly in the coming months. Trying to project exactly what our payouts will be is not something I want to speculate on. Feel free to make your own assumptions.

Bastone

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I'm considering investing in this stock!

I am confused about what one share represents, the Contract say that one share is a 20Mh/s? Is that still the case or will one share be more? The OP says 469GH and 6985 shares?

So does this pay 469GH/6985 shares= 67 Mh/s once the ASIC's arrive?

or does it pay 20 Mh/s?

kuzetsa

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Quote from: kroneko on September 27, 2012, 07:02:54 PM

Not sure if I'm missing something, but what's with the sudden drop in the share prices lately? There really that much doubt in BFL delivering, or are shares being dumped for liquidity purposes? I'm looking at it as a good opportunity to buy honestly, but maybe I'm missing something... Huh

Yes, you're not fully aware of some of the deals going on. There is some amount of transparency though, because at least part of it is happening here on the bitcointalk forums:

/// Begin quotes from other threads ///

Quote from: OgNasty on September 28, 2012, 08:27:35 PM

I'd be willing to sell put options on NASTY shares at the IPO price if you were interested in taking a short position.

I was confused by this.

Quote from: OgNasty on September 29, 2012, 03:26:52 PM

Quote from: tmfp143 on September 29, 2012, 03:18:33 PM

I am proud to announce that we've added [GLBSE] NASTY to BLUECHIP at position 4 in the depth chart.

Thank you for adding NASTY to BLUECHIP. Lots of great things on the way.

Nearly asked what was going on with that, but opted not to:

I know far more about how bitcoin works than how stocks and securities and the trading customs. Everything on the "trading of shares" side seems pretty standard though from what I can tell.

@OGNasty:

Really meant a lot when you explained a few things to me on IRC in realtime chat. WAY too many threads for me to watch everything that is happening and take it all in. IRC chat with one or two people at a time is more my speed. You should really hang out more in OTC and make some person to person trades and get your rating up a bit more. Feels weird that I'm one of the few people who gave you a rating so far.

All in all I have a lot of trust in the various deals going on, and also, there is diversification going on with the mining hardware itself, etc...

Overall I'm happy with what I'm seeing.

Thanks OGNasty

OgNasty

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A dividend of BTC14.16 has been paid.

Quote from: Audriux9 on September 28, 2012, 07:35:08 PM

You might want to take a look at this bASIC announcement. Sound like a good deal for expansion.

Thank you for bringing that to my attention. I placed an order for 2x 54GH/s bASIC miners. I also ordered another BitForce 'SC' 40GH/s miner and updated the "ordered" list on the OP.

Audriux9

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Quote from: OgNasty on September 28, 2012, 11:49:47 AM

Quote from: kroneko on September 28, 2012, 11:00:28 AM

Nice - good news all around! Just out of curiosity which non-BFL ASIC were you leaning toward?

I'm looking into preordering an Avalon, but it looks like it would need to be ordered next week to get the preorder pricing. With our shares currently so heavily undervalued due to the BFL & Goat/Nefario situations, I cannot sell more at this time to raise funds for this purchase without harming current shareholder value. For that reason, I may just use my own funds and plan to recoup my costs with future share sales at much higher than current prices. I feel like that is the best option I have for balancing expansion and maintaining shareholder confidence. I've also registered with #Bitcoin-OTC Web of Trust and added a link in my forum signature to my OTC ratings page, in an attempt to further elevate shareholder trust in my abilities and intentions as an asset issuer on GLBSE.

You might want to take a look at this bASIC announcement. Sound like a good deal for expansion.

OgNasty

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Quote from: kroneko on September 28, 2012, 11:00:28 AM

Nice - good news all around! Just out of curiosity which non-BFL ASIC were you leaning toward?

I'm looking into preordering an Avalon, but it looks like it would need to be ordered next week to get the preorder pricing. With our shares currently so heavily undervalued due to the BFL & Goat/Nefario situations, I cannot sell more at this time to raise funds for this purchase without harming current shareholder value. For that reason, I may just use my own funds and plan to recoup my costs with future share sales at much higher than current prices. I feel like that is the best option I have for balancing expansion and maintaining shareholder confidence. I've also registered with #Bitcoin-OTC Web of Trust and added a link in my forum signature to my OTC ratings page, in an attempt to further elevate shareholder trust in my abilities and intentions as an asset issuer on GLBSE.

kroneko

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Nice - good news all around! Just out of curiosity which non-BFL ASIC were you leaning toward?

OgNasty

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Quote from: kroneko on September 27, 2012, 07:02:54 PM

Not sure if I'm missing something, but what's with the sudden drop in the share prices lately? There really that much doubt in BFL delivering, or are shares being dumped for liquidity purposes? I'm looking at it as a good opportunity to buy honestly, but maybe I'm missing something... Huh

The share price is definitely not reflecting a change in the company's fundamentals. Outstanding share count is down, looks like we're going to see another strong dividend this week, and I've ordered another 1.2GH/s in FPGAs that should arrive within a month. The weather is also cooling down, so I should be able to increase our bitstreams soon. All positive things. In addition, I'm looking at placing an order for a competitor's ASIC miner to diversify a bit from BFL.

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