SkepsiDyne Integrated Node - The Bitcoin Mining Company - page 37.

Tawsix

full member

Activity: 210

Merit: 100

I have always been afraid of banks.

Quote from: Sukrim on June 09, 2011, 07:03:00 AM

Quote from: Tawsix on June 08, 2011, 10:43:54 PM

Update: I tried to move the rigs off of BTCmine.com today, but for some reason they did not want to form a stable connection with BTCguild or Eligius. I'll be working on it more tomorrow, but for now we'll have to deal with the 2% fee. The important thing is that we're mining.

True.

You could try the "multiple mining clients per card" tactics, so unstable connections might not affect you that much.

Also btcguild + Eligius had both some smaller troubles yesterday, maybe try them again after the weekend or so.

2% fee is kinda not that much in the short run, I just wanted you to be aware, that in the longer run it might hurt a bit (and even more with increasing difficulty! Every Bitcent you mine less right now can be a week worth of work in half a year!).

I took your advice and ran two miners on each card, one pointed at BTCguild and one at Eligius. I thought that was problem, as both kept disconnecting/idleing out, but then I tried getting them to work with just one miner on each card and had the same problems. Hopefully they both stabilize soon.

Sukrim

legendary

Activity: 2618

Merit: 1007

Quote from: Tawsix on June 08, 2011, 10:43:54 PM

Update: I tried to move the rigs off of BTCmine.com today, but for some reason they did not want to form a stable connection with BTCguild or Eligius. I'll be working on it more tomorrow, but for now we'll have to deal with the 2% fee. The important thing is that we're mining.

True.

You could try the "multiple mining clients per card" tactics, so unstable connections might not affect you that much.

Also btcguild + Eligius had both some smaller troubles yesterday, maybe try them again after the weekend or so.

2% fee is kinda not that much in the short run, I just wanted you to be aware, that in the longer run it might hurt a bit (and even more with increasing difficulty! Every Bitcent you mine less right now can be a week worth of work in half a year!).

kseistrup

hero member

Activity: 566

Merit: 500

Unselfish actions pay back better

Quote from: Tawsix on June 08, 2011, 10:43:54 PM

Update: I tried to move the rigs off of BTCmine.com today, but for some reason they did not want to form a stable connection with BTCguild or Eligius. I'll be working on it more tomorrow, but for now we'll have to deal with the 2% fee. The important thing is that we're mining.

The www.bitcoins.lc pool has 0 fees.

Cheers,

Tawsix

full member

Activity: 210

Merit: 100

I have always been afraid of banks.

Update: I tried to move the rigs off of BTCmine.com today, but for some reason they did not want to form a stable connection with BTCguild or Eligius. I'll be working on it more tomorrow, but for now we'll have to deal with the 2% fee. The important thing is that we're mining.

Sukrim

legendary

Activity: 2618

Merit: 1007

I'd rather have the whole SIN data than just current pool data, as he might have to switch again after some time elsewhere.

bing

newbie

Activity: 18

Merit: 0

Quote from: Tawsix on June 07, 2011, 11:31:00 PM

Update: Today is a good day, we've successfully gotten all seven rigs up and running! Tomorrow we will be migrating from btcmine.com to other pools (mining simultaneously on more than one pool with each card.) I will also be continuing work on a cooling system to allow for better overclocking.

Once again, thanks to everyone for your support and advice! We rode out the bumps and have entered production mode! Next on the agenda: dividends!

Nice work there Tawsix!

eturnerx

member

Activity: 84

Merit: 10

Quote from: Tawsix on June 07, 2011, 11:31:00 PM

I will also be continuing work on a cooling system to allow for better overclocking.

Let the card burn in a stock speeds for at least 72 hours before attempting an overclock. That 72 hours gives a good indication that the card is going to function just fine - so do this before the warranty is violated by over clocking.

Tawsix

full member

Activity: 210

Merit: 100

I have always been afraid of banks.

Update: Today is a good day, we've successfully gotten all seven rigs up and running! Tomorrow we will be migrating from btcmine.com to other pools (mining simultaneously on more than one pool with each card.) I will also be continuing work on a cooling system to allow for better overclocking.

Once again, thanks to everyone for your support and advice! We rode out the bumps and have entered production mode! Next on the agenda: dividends!

boonies4u

hero member

Activity: 826

Merit: 1000

Quote from: clouds on June 07, 2011, 06:25:23 PM

SIN has now solved 2 blocks on its own!
http://btcmine.com/api/getstats/020d055f94131c4b29baeca9915c7e04917bb18e/

That would have been 100 BTC without a pool! I'm not advocating mining without a pool (at least, not until we have a lot more rigs), but it is kinda cool.

I find it even cooler that our total payout is more than 1/3 of that.

Sukrim

legendary

Activity: 2618

Merit: 1007

The ~0.2% less income (from transaction fees) currently are not really worth the immense variance you'd get even with a 20 GH/s setup imho.

clouds

newbie

Activity: 27

Merit: 0

SIN has now solved 2 blocks on its own!
http://btcmine.com/api/getstats/020d055f94131c4b29baeca9915c7e04917bb18e/

That would have been 100 BTC without a pool! I'm not advocating mining without a pool (at least, not until we have a lot more rigs), but it is kinda cool.

Sukrim

legendary

Activity: 2618

Merit: 1007

Oh, and btw: Get out of BTCMine, and get out quick! They charge now a 2% fee!

I still would suggest starting 2 miners per GPU - 1 at Eligius and the other one at BTCguild. This would equally distribute the hashrate and allow for automatic failover. If you need help for this, just tell us/me.

bing

newbie

Activity: 18

Merit: 0

Quote from: Nefario on June 07, 2011, 01:00:45 PM

Quote from: eturnerx on June 07, 2011, 12:38:14 PM

All shares orders were cancelled during the last GLBSE update. I guess tawsix will put the SIN ones back up for sale soon.

bing: I think it's dividend_per_share = total_dividend_payout / ownedshares

You can use the web client to make dividend payments.

The total amount paid is divided over the sold shares.

That means that shares in the issuers account get nothing(this is by system design).

Nice! I'm one of those who likes to find errors in systems and you already thought of everything, perfect Wink

Oh, btw, good work with the web-thingy!

Nefario

hero member

Activity: 602

Merit: 513

GLBSE Support [email protected]

Quote from: eturnerx on June 07, 2011, 12:38:14 PM

All shares orders were cancelled during the last GLBSE update. I guess tawsix will put the SIN ones back up for sale soon.

bing: I think it's dividend_per_share = total_dividend_payout / ownedshares

You can use the web client to make dividend payments.

The total amount paid is divided over the sold shares.

That means that shares in the issuers account get nothing(this is by system design).

bing

newbie

Activity: 18

Merit: 0

Quote from: eturnerx on June 07, 2011, 12:38:14 PM

All shares orders were cancelled during the last GLBSE update. I guess tawsix will put the SIN ones back up for sale soon.

bing: I think it's dividend_per_share = total_dividend_payout / ownedshares

With ownedshares you mean "Owned by investors"? And not total shares?

The "unsold" shares is owned by tawsix, but there's no capital backing it.
So I think it comes down to definition.

Since the whole startup is financed by external investors, "unsold" shares shouldn't get divends since they haven't really contributed yet.

eturnerx

member

Activity: 84

Merit: 10

All shares orders were cancelled during the last GLBSE update. I guess tawsix will put the SIN ones back up for sale soon.

bing: I think it's dividend_per_share = total_dividend_payout / ownedshares

Ben Walsh (beamer)

sr. member

Activity: 343

Merit: 250

All orders on GLBSE (bid and ask) were cancelled by developer of GLBSE, as a necessity for adding functionality to prevent "spam" orders.

SIN asset owner will to to "re-sell" the shares they own, to get trading started again.

bing

newbie

Activity: 18

Merit: 0

BTW, is the SIN-shares taken of the market?
Haven't seen any large sale on the ticker?

bing

newbie

Activity: 18

Merit: 0

Besides my opinion about paying out divends for expanding business, I have another questionmark...

How does the payouts work, if not all initial shares are paid?

Is it:

1.
BTCs * owned_shares / total_shares
or
2.
BTCs * owned_shares / (total_shares - left_of_initial_shares)

The second would be preferable though the divends should be based on the current investment made.

for example:
2000 shares is sold that gets us 10 rigs (example).
If the divends is calculated on 10000 shares that makes the divends based on 2 rigs instead of the 10 that the current investors have payed for. Only when all initial shares are sold, the divends can be based on 10000 shares.

I have trouble explaining this in a good way, Am I thinking all wrong here?

Nefario

hero member

Activity: 602

Merit: 513

GLBSE Support [email protected]

Good news guys
http://forum.bitcoin.org/index.php?topic=13055.0

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