Topic: SkepsiDyne Integrated Node - The Bitcoin Mining Company - page 32. (Read 104236 times)

The shares are only worth 0.75 if people are buying them.  Last time I looked over 60% of the IPO shares were still available, and SIN isn't going to sell 900 or so anytime soon.  I'm not saying this makes the buyout a good deal.  You need to decide for yourself.  But I think it should be taken into account that the sale of 900 shares in the near future isn't a guarantee or a 'gimme'.

Although I just bought 2 shares to start here I have to say this, investing 10K into DISHWARA's equipment is insane!  At most that equipment is worth $5000 without even getting into details..maybe even less.  Someone else also mentioned the 2500K being way too much when all you need for these rigs is a $39 Sempron that also consumes less energy When the voting starts working again, I will be voting against this. 

So for that hardware, you are asking the shareholders to pay 968 shares, at 0.75 BTC which is around $10k at the current price.

If you sold those 968 shares, what hardware do you think you could make for $10k and hence what Hash rate? I would imagine it is a lot more than the 3.8gh/s that you say you can get. Remember Valdimir was saying for $15k he could get over 6 gh/s after his cut.

Other details and questions, are how much is it going to cost to ship that hardware. How long until all is up and running? I'm also assuming that any dividends paid out once the hardware is shipped will also mean that DISHWARA will be receiving dividend payouts, so initial shareholders will be losing out heavily for a couple of weeks until that is up and running.

I for one shareholder will be voting against this at the moment. I think the price has to be lower for only 3.8gh/s.

sorry that is my feeling.

Phil

What will happen to DISHWARA share holders? I think the agreement should be modified. drop the HDD, i5 CPU, RAM. All of that is to much for a mining rig. Its much cheaper to not accept those items and buy proper mining parts. USB, sempron140, 1gb RAM stick instead.


Edit: I still would like to know what equipment we run. Does anyone know?

Edit2: should of made my stance more clear. I'm okay with this agreement if the shares he gets is dropped to 300-315 shares. His equipment if brand new is under 4grand. Used equipment should not cost more then 1$/1hash.

Actually guys, something has come up (emergency) and it looks like I may not be able to get this fixed for a couple of days.

I'll do what I can though, so if I can get it working I will.

Also I'll be offline for a couple of days.

Nefario.

I'm on it.

Message Nefario with the error so he knows where to look.

Voting seems to be currently broken with both web and black market clients.

It's no big deal, if potential investors want to invest directly in the company I have offered channels that allow for that to happen.

I have created two motions: one concerning the backup mining pool (motion id 15) and another concerning a recent development with another GLBSE company, DISHWARA (motion id 16).  I have been in contact with dishwara, who issued the shares, and we have come to an agreement concerning his company: he no longer wishes to operate his mining setup and has agreed to transfer all of DISHWARA's assets to us in exchange for a number of SIN shares that is equal in worth to the number of DISHWARA shares that were sold from the IPO.  In this way, he would receive dividends from SIN, which he would pay out as DISHWARA dividends.

The assets that we will receive are as follows:


We'll be able to squeeze about 3.8 Ghash/sec out of those 9 cards.  All told, we'll be giving DISHWARA 968 shares of SIN for these assets.  He and I are waiting for the responses of our shareholders before going through with this, and working out the finer details until the votes are completed, so this is by no means a done deal.  Please voice your opinions and concerns so we may discuss this issue at length.  The vote ends on Monday, June 24, so we have the weekend to talk about it.

In other news, we have paid sharp 1.25 BTC for his work on the graphs!  Thanks once again for your excellent work!

We have also ordered another rig, which should be here by the end of next week!  This coming week I hope to be have us migrated to the new mining pools as well, so I'll be very busy in the coming days.

Someone is selling below IPO price again, I guess they were just waiting until dividends were handed out. Oh well, they will probably be sold soon, assuming no one else pulls out.

Any news on the motions, Tawsix?

Update: dividends have been paid out!  A total of 35.895 BTC was paid to 1564 shares.  The same amount was sold for reinvestment in the company, along with 17 BTC for electricity.  Another 40 BTC was sold from investments.  We'll be ordering a new rig later tonight!  I will also be initiating a motion to decide between eligius and bitcoins.lc mining pools.

Thanks again to everyone!

thanks it works now.

Hey, anyone not feel like using the command line client just use the web one, it's all over https now anyway so it's secure.

https://glbse.com/client/glbse/index.html

If using the command line client then you need to update.
See here for more http://bit.ly/mverZy

You'll have to update the client so that it can connect to https:

im happy with that ill be sure to vote. anyone else having problems with glbse? it wont let me do anything in the command line client. I keep getting failure to connect error.

Hmm... That is a bit annoying... I think I'll just make the vote between Eligius and bitcoin.lc, and make BTCguild a given.

that sounds good too. but it does suck that bitcoins.lc doesnt use json

for anyone who needs it https://gitorious.org/black-market/pages/Tutorial scroll down to see how to vote on motions.

bitcoins.lc does not yet have a JSON feed - that kinda sucks if you're like me and use WatchMine to keep an eye on what the SIN cluster is doing.

Yes, the purpose of this migration is to go to a no fee pool, so mining at deepbit would be counterproductive to that goal.  BTCmine currently has a lower fee them so we'd actually end up paying more.


Just checked, it's back up.  We will be getting dividends paid out ASAP, as well as paying sharp and getting a vote out concerning the next mining pools.  I will post when everything is all done.

Seems GLBSE is back up recently.