Topic: SkepsiDyne Integrated Node - The Bitcoin Mining Company - page 15. (Read 104288 times)

Do we have the 600 dollars to get the computer the new graphics cards?

Given who you are, i'd say you have the Facility, Hardware, and Experience, and are hoping to sell some . (selling exp is bad, that's boosting  )

What would it take to save this sinking ship? Facility? Hardware? Experience?

my vote is to liquidated everything.

The rigs in their current state can produce around 8-9 Ghps.  There are three computers down right now, two that won't stay on for reasons I was unable to determine and one that has need for graphics card replacement.  The two that won't stay on need a few days of playing with to figure out.  The one that needs new graphics cards needs either about $600 put into it or XFX and Gigabyte to stop giving me the runaround on the RMA.

If and when we decide that the company should be liquidated, depending on what the Bitcoin climate is, an investor could see a decent return based on what the price of BTC was when they invested (those who invested at higher prices will see more BTC, etc.)  If we pull out when prices are low like they are now, the liquidated funds will buy a lot more BTC than if the price jumps back up, and investors will get a lot more of their investment back.

I see a lot of concern with the efficiency of the machines being run, and that we should still be able to operate profitably.  I would like to make a very important point that many people who go into business mistakenly ignore: the cost of operation that I calculator for the machines is not limited to the energy costs, it also includes the cost of replacement for the parts as well.  It is important to do this when your income depends on any machines, because yes, we could be operating "profitably", but what happens when the rigs start breaking from running 24/7 at max load for a year?  All of a sudden we have a bunch of broken machines and no money to replace them with because we've been operating "profitably".  So with the cost of electricity, I add the cost of replacement, and that does effect us to the point of not being able to operate in the current condition of the economy.

With difficulty falling, all it will take is for the price of BTC to jump up 15-20 cents, and we will be able to mine profitably again.  However, I would say that unless we are making more than marginal őprofits, we should keep the rigs down.  There is no point in mining for the sake of mining, and putting more and more wear and tear on the rigs lowers their value.  I am not sure what the best method of moving forward is right now, and how we should go about deciding the future of the company.  I am open to suggestions.

At this stage, I would say I am 90% confident I know Tawsix's true identity. However, I am all for second chances, so he has a week to demonstrate a willingness to treat the shareholders the way they deserve.

To be frank though, I have already pulled the vast majority of my investment, taking a relatively insignificant hair-cut, leaving me with a reasonable number of shares to be able to critically comment.

So, I am very much in spectator mode here, little to lose but very curious to see how others react to the behaviours being exhibited - I am as much interested in Bitcoin for the psychology / sociology aspects of its use (and that of the community around it) as anything else - I find it fascinating.

Someone should start grabbing copies of every piece of history on this whole thing as well.  Who knows whether this thread will happen to be deleted in the future, or information on GLBSE is suddenly gone.

I wouldn't be worried about the contract not holding up though, even though it's through a non-sanctioned "stock exchange".  People have written contracts on the back of napkins that hold up in court, so w/e.

Sounds like Ben Walsh knows.  I believe I identified him earlier on, when he was inactive for some weeks.  I am fairly confident that I could get the dox again if need-be.

I agree.  Legal action should be taken.  Question is, does anyone have any information about who Tawsix actually is?

Hi guys-  Thread jacker here    Can't help but notice the drama going on with some of the mining companies on the GLBSE.  If you're looking for a solid no bs GLBSE mining investment, check out GLBSE: BMMO.   Our power rate is low, we are actively experimenting with merged mining and actively looking into future technologies such as FPGA's.  We run a couple other companies, we have the techs, we have the facilities, we have the infrastructure.  Pretty much unless all of bitcoin goes down the toilet, we will not dissapoint.   I'll be posting more details about our mining operation in a few weeks, which I am sure will start looking pretty juicy to investors at that time. 

We are also thinking of offering shares of the actual company in the future (the BMMO asset is a share of mining capacity only, each share represents 1 mhash).     Our expected dividend per share (after fees) for October is looking to be around .014 btc per share. We are trying to keep fees low while keeping dividends high!


teek
blockminers.com


 

It is time for either a sacking of Tawsix as CEO or a hostile takeover by one of the other companies.

$15,000 is a considerable sum, particularly for those who don't live in the Western world.

It is also a sum which attracts considerably higher penalties for theft/fraud, should the other shareholders decide to take that option too.

I realise Tawsix is new to much of this and relatively young, however, he is legally (never mind morally) obligated to respond to the questions he is receiving here and the emails he is receiving at . He may believe himself to be hidden but he is truly not - a basic set of Google searches retrieves significant amounts of recent information about his true identity and location - ample to launch a legal case in the USA, should it prove necessary - all of which I have archived. Last chance for him to respond.

At this point it has become clear that you, Tawsix, are either incredibly stupid, or a scammer. Unfortunately, I believe it is the latter seeing as plenty of people have offered their help (even investors, at no charge) to try and keep this "company" afloat. It should have been obvious to me you weren't capable right at the beginning, when your calculations were off and you refused to answer questions. I'm sorry to have ever invested in this company, and I'm taking it as a hard lesson learned for quite a price.

I hope we're thinking of liquidating hardware and cutting losses. Even if price goes up and difficulty goes down, this isn't going to work with someone who is very clearly stealing (which we can't prove since he shows NO calculations and now just "decides" that he's put enough work into this that his debt is paid) and/or totally mismanaging this.

What a scam.

Silence is deadly.

I agree.  I find it hard to believe that the rigs cannot mine profitably given the electrical costs stated, as mine are much higher and I still make a (small) profit.  With merged mining coming online, that offers another potential source of additional profits.  If the company can no longer mine profitably, the hardware should be liquidated and funds returned to the shareholders.

Has anyone had any luck contacting Tawsix by email or any other method?

Well, difficulty certainly is approaching 1.5 mil, but i doubt that the drop in price helped any.

Difficulty will always lag behind the price.


Tawsix, you really need to give a full report on the status of the rigs; Yes, we were nearly at 13.

I want to know how much Ghps the rigs in their current status could produce. I want to know how much funds and time it would take to bring them back up to 13, if they aren't capable yet. I want to know how much funds could be liquidated if we were to sell all hardware at their current status and when they are back to full hashing power. I would like you to have discussions with both shareholders (i may speak to Nefario to see if someone can provide proof that they own shares), and the public here on the forum.

I would like you to put the time that you no longer are putting towards maintaining the rigs to some use.  Even though the rigs aren't running your job isn't over.

I hope that everyone else agrees with me.

How about you stop ripping off your investors and get your rigs back to working the way they should? Your capability as a rig manager is horrible if you can't make a profit under the current conditions. They have invested some $15,000 into hardware, that at one time was generating nearly 13 ghps. When you "turned them off" they were generating a pathetic 8 ghps. I suspect you really still have the full 13 ghps turned on and mining somewhere else all for yourself.

1. Can you show us your calculations?

2. When Difficulty and/or price is back towards a profitable margin, I would like to see our rigs running more efficiently. I believe that since you are currently not upkeeping the rigs, perhaps you could research more efficient use of said rigs.

Did you really just say that Tawsix ?

Your 100's of man-hours (and I have seen little to no evidence to suggest anything like that amount of effort has been expended in this operation) have been handsomely compensated by the profits you have been taking, which have been generated as a result of the significant total investment from the SIN shareholders.

"Our mission is simple: provide an alternative to those who would like to enjoy the income of mining but do not have the money, time, or expertise to operate a dedicated mining rig on their own.  By combining our resources, we can overcome certain limitation that the average individual faces."

If you truly had to spend 100's of man-hours, then you never had the expertise you claimed you had at the beginning, which is dishonest at best and fraud at worst.

The SIN shareholders collectively own a significant set of assets and I suspect they will shortly be seeking to realise the market value of those assets through liquidation.

Many would not hesitate to utilise the full extent of the law to achieve that. Some may well even be lawyers themselves.

I suggest you start treating the shareholders with the respect they deserve.

At this oint it is clear you are stupid. Sorry. I saw these costs first time I thought of SkepsiDyne and though - you saw them. And decided willingly NOT to put them into the contract. Get paid out of the profits of the company. You know, people complaining here you break the contracts are right - you decided when you offered this company IPO to not get paid for that. Now you take money out which is, in simple laymens terms, theft. Maybe you overlooked them, but jsut taking moeny out (i.e. shares) is not morally and legally ok. On top, your rigs run horrific

Now you one sided rewrite the contracts. Happy enough for you quite noone of the people has enough invested to make this painfull for you.