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Topic: SkepsiDyne Integrated Node - The Bitcoin Mining Company - page 38. (Read 104288 times)

member
Activity: 84
Merit: 10
Update: Six of the seven rigs are currently up.  I'll be fiddling with the seventh tomorrow morning, I'm pretty sure I know what the problem is but I'm exhausted!  Tomorrow I'll also be looking into a better cooling situation so we can overclock the cards to their maximum potential!
Congratulations on a job well done.

Please ignore Weinerk until he gets his math right.
newbie
Activity: 27
Merit: 0
Yeah, but the dividends are proportional to amount of shares...

Yes, dividends will be divided among shares.  The total number of IPO shares hasn't changed either.

I don't know whether or not this will eventually provide a good return on investment.  I was just responding to your original post where you were comparing the cost of rigs.  Tawsix said his rigs cost $1160, and you said you would spend $1200 to buy your own rig.  I guess that makes SIN rigs cheaper (you didn't give rig specs).
newbie
Activity: 22
Merit: 0
Yeah, but the dividends are proportional to amount of shares...
newbie
Activity: 27
Merit: 0
newbie
Activity: 22
Merit: 0
That's what happens when you run a scam, your "investors" get hosed.

Not necessarily a "scam" - I am not relating to that at all -
I am saying that we buy computers for USD.
Share price is fixed in BTC (and BTC appreciated almost 3 times since IPO).
So it is no longer attactive to buy through the company,
when you can buy compters in USD for a third of the cost.

To make it attractive again for investor to buy shares - need to recalc the price.
full member
Activity: 182
Merit: 101
newbie
Activity: 22
Merit: 0
 It makes no sence to buy shares with the current BTC rate:    


18     $/BTC - current rate             
5,000     shares                   
39     rigs (lets go with this number for now )    
128     shares/rig                
0.75     BTC/share                
1,731     $/rig                   
50%    %revshare (since 50% goes to the owner)    
3,462     effective cost of rig             

   
 VS.    
   
 1,200     $/rig - buy my own
   
 2.88     Ratio

Thats overpaying by almost 3 times
   
At the original  7USD/BTC - it was competitive,    
but now you would have to cut the share price to something like 0.25BTC/share to make it work

Please comment?
full member
Activity: 210
Merit: 100
I have always been afraid of banks.
Update: Six of the seven rigs are currently up.  I'll be fiddling with the seventh tomorrow morning, I'm pretty sure I know what the problem is but I'm exhausted!  Tomorrow I'll also be looking into a better cooling situation so we can overclock the cards to their maximum potential!
legendary
Activity: 1764
Merit: 1002

Quote from: Nefario
I'm really sorry about this guys.

When I started glbse I was unsure how to handle this sort of issue, should people have their buy and sell orders cancelled because the withdraw btc from their account?

So I decided that people could make any order they liked, and it would show, but only be processed if there was a matching order for it. If any order that matches doesn't have enough shares or btc in their account then the order is removed.

I though people would be civil about it but it has turned out not to be the case.

So from tomorrow I will make the change.


geez beweez!
full member
Activity: 210
Merit: 100
I have always been afraid of banks.
we also need to notify Tawsix Huh

Not to worry:

I'm really sorry about this guys.

When I started glbse I was unsure how to handle this sort of issue, should people have their buy and sell orders cancelled because the withdraw btc from their account?

So I decided that people could make any order they liked, and it would show, but only be processed if there was a matching order for it. If any order that matches doesn't have enough shares or btc in their account then the order is removed.

I though people would be civil about it but it has turned out not to be the case.

So from tomorrow I will make the change.

That to sell an asset you must have at least that number in your account, if you remove the asset from your account (using transfer) then your order will be removed, and the same will be for your bitcoin. You will be required to hold bitcoin in your account to cover all your positions.

Feedback is appreciated.

Nefario.

That's in the SkepsiDyne thread in the Mining section of the forums.

Also, the new rigs have arrived, getting on it right now.  I'll update later tonight once everything is settled, but I won't be able to respond to anything until quite late this evening.  Here we go!
legendary
Activity: 1764
Merit: 1002
we also need to notify Tawsix Huh
legendary
Activity: 1764
Merit: 1002
Quote from: boonies4
9999, 74999999  <---- how is that possible?

this ask IS an error.  its impossible.  someone needs to contact Nefario to fix that asap.  i'm at work.

i've sent an email to Nefario about this but no response yet.  this order is an error unless glbse has allowed "short selling" which i know i has not.  this puts a cap on the share price until we get this fixed guys so help me out.
newbie
Activity: 18
Merit: 0
Quote from: boonies4
9999, 74999999  <---- how is that possible?

this ask IS an error.  its impossible.  someone needs to contact Nefario to fix that asap.  i'm at work.

I notified Nefario after I wrote that
legendary
Activity: 1764
Merit: 1002
Quote from: boonies4
9999, 74999999  <---- how is that possible?

this ask IS an error.  its impossible.  someone needs to contact Nefario to fix that asap.  i'm at work.
member
Activity: 105
Merit: 10
Spreading Bitcoin love
I'd like to add that I pledge to reinvest the first dividend payout that I receive into purchasing more SIN shares at the going rate on GLBSE rounded up to the nearest share.
I am likely to extend this pledge for future dividend payouts.

I say this simply because I would like to see long-term expansion via new investor funds, but believe that new investor funds will not happen without a dividend payout. I aim to make any dividend payout to myself as neutral for SIN as possible.

+1

I agree, this would help growing the business aswell.

So, basically, by paying out divends, new investors will gain faith in SIN. But there will also be re-investment from the current shareholders.

My opinion is that all the BTCs generated at this point should be payed out as divends, since then it's up to the shareholders to re-invest them.
If, let say, 30% of the generated BTCs comes back as investments, the shares will be sold faster, and therefore you will get the capital you need to grow.

Using mined BTCs for investments without getting any shares for it is a little bit unfair, since the first investors (like me) will basically give my investment to the investors which buys shares when they are almost sold out.

If generated BTCs isn't payed out as divends, and instead invested by you into SIN, the best time to buy SIN-shares is at the end, when the initial shares are almost sold out, and by then, "my"(and other early investors) investments have made their impact on SIN, making us wait for payout, while late investors can cash out more faster.

So without the divends, We, early investors, will gain less (over time) than late investors

Don't get me wrong Tawsix, I like this idea and I believe in you. But just like eturnex, I'd like YOU to give the shareholders the choice and the opportunity to re-invest our divends into SIN, by simply... by paying out the divends Smiley


+1
hero member
Activity: 826
Merit: 1000
Hm, somethings wrong, somebody just put up 9999 shares for sale at GLBSE

depth SIN
1, 74800000
7, 74900000
9999, 74999999  <---- how is that possible?
3535, 75000000
Have you tried looking at "asset SIN"? That shows total shares in existance.

Should be able to do that to look for obvious fakes.
newbie
Activity: 18
Merit: 0
I'd like to add that I pledge to reinvest the first dividend payout that I receive into purchasing more SIN shares at the going rate on GLBSE rounded up to the nearest share.
I am likely to extend this pledge for future dividend payouts.

I say this simply because I would like to see long-term expansion via new investor funds, but believe that new investor funds will not happen without a dividend payout. I aim to make any dividend payout to myself as neutral for SIN as possible.

+1

I agree, this would help growing the business aswell.

So, basically, by paying out divends, new investors will gain faith in SIN. But there will also be re-investment from the current shareholders.

My opinion is that all the BTCs generated at this point should be payed out as divends, since then it's up to the shareholders to re-invest them.
If, let say, 30% of the generated BTCs comes back as investments, the shares will be sold faster, and therefore you will get the capital you need to grow.

Using mined BTCs for investments without getting any shares for it is a little bit unfair, since the first investors (like me) will basically give my investment to the investors which buys shares when they are almost sold out.

If generated BTCs isn't payed out as divends, and instead invested by you into SIN, the best time to buy SIN-shares is at the end, when the initial shares are almost sold out, and by then, "my"(and other early investors) investments have made their impact on SIN, making us wait for payout, while late investors can cash out more faster.

So without the divends, We, early investors, will gain less (over time) than late investors

Don't get me wrong Tawsix, I like this idea and I believe in you. But just like eturnex, I'd like YOU to give the shareholders the choice and the opportunity to re-invest our divends into SIN, by simply... by paying out the divends Smiley
member
Activity: 84
Merit: 10
I'd like to add that I pledge to reinvest the first dividend payout that I receive into purchasing more SIN shares at the going rate on GLBSE rounded up to the nearest share.
I am likely to extend this pledge for future dividend payouts.

I say this simply because I would like to see long-term expansion via new investor funds, but believe that new investor funds will not happen without a dividend payout. I aim to make any dividend payout to myself as neutral for SIN as possible.
legendary
Activity: 2618
Merit: 1007
That's kinda the opposite of a "dark pool"...

The rest of the offer will be cancelled once all of these shares in the acount offering it are sold, so in reality there might even be only a single share behind this (I'm not sure if it would even work with 0 shares) - or 1000.
Interestingly you can also put online sell/buy offers with 0 shares currently! Wink

It's not really bad, you just can't know how many shares are really "behind" this offer, until it is bought up. It wouldn't matter though if there would be the max. amount of shares in the seller's account standing there instead, the outcome is the same.
newbie
Activity: 18
Merit: 0
Hm, somethings wrong, somebody just put up 9999 shares for sale at GLBSE

depth SIN
1, 74800000
7, 74900000
9999, 74999999  <---- how is that possible?
3535, 75000000
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