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Topic: The Most Competitive Mining Bond - Synergy @ 25Gh/s [GLBSE] (Read 12782 times)

legendary
Activity: 938
Merit: 1000
What's a GPU?
Hi all,

Because of the nature of the original contract between myself and Synergy's underwriter, it was no longer in my best interest to continue operating Synergy. Because of this, we have performed a buyback of all bonds as per the contract, at 105% the 30d average price.

I'm going to keep the ticker alive but inactive on BTC-TC, in case I want to issue mining bonds under a new contract in the future.

Best,
Garrett

Code:
Public Contract:

The holder of this bond will receive as coupons a number of Bitcoins equivalent
to 100% PPS output of one million hashes per second for the duration of time the
bond is held. All coupons will be paid on the Saturday of each week for the
previous seven days of mining. This bond is 100% underwritten by a private
investor. If operation is ceased at any time, during the same week the Investor,
not the Manager, will repurchase all bonds at 105% the 744 hour average price.
newbie
Activity: 16
Merit: 0
Hi Garrett,

I'm holding some of the synergy bonds at the moment and I'm confused about the dividends.

You are saying, the dividends should equal the output of 1MHash hashing power.

Even at the current difficulty, according to my calculations, this should equal 0.00053 BTC per week. However, your dividends are always far lower than this value. Even in february, when the difficulty was still a lot lower, the dividends never reached 0.00053 BTC per week.

So what's wrong? If it's my calculation, then please explain how you are determining the dividends. If you did not pay enough dividends according to the bond contract, then please tell us when you will pay the overdue dividends.
full member
Activity: 234
Merit: 101
It's been very quiet here for quite some time now.

I was wondering what is the explanation for the recent dividend dropping from 9BTC to 4?

Have you decided to do the same as with Cognitive and keep half of the dividends for purchasing equipment?

Any general updates on the BFL upgrade situation?

Thanks.
legendary
Activity: 938
Merit: 1000
What's a GPU?
Is the 0.00057142 BTC/share weekly dividend expected to continue for awhile?

As long as the difficulty stays about the same, we should have close to the same output, yes. It's pretty atypical for us to mine just under 14 coins for three weeks in a row though.
sr. member
Activity: 341
Merit: 250
Is the 0.00057142 BTC/share weekly dividend expected to continue for awhile?
sr. member
Activity: 434
Merit: 250
Very nice divvy...Thanks! Wish I'd thought to grab some more. Smiley
legendary
Activity: 938
Merit: 1000
What's a GPU?
Coupon payment scheduled for 5:00 PST today, 319 coins total, for 0.01302041 BTC per bond!
legendary
Activity: 938
Merit: 1000
What's a GPU?
Are there any plans to upgrade to a minirig SC?

I would personally like to, but this is the underwriter's decision, not mine. I will keep you updated as things progress!
sr. member
Activity: 434
Merit: 250
Are there any plans to upgrade to a minirig SC?
full member
Activity: 234
Merit: 101
I'm really happy to see all my shares in btct.co. Smiley

I just wanted to say thank you for all your work with sorting out the GLBSE mess, and congratulations on finding a new home for Synergy.

I hope that btct.co works well for us all. It's looking very promising so far.
legendary
Activity: 938
Merit: 1000
What's a GPU?
The next coupon payment will go out Saturday, December 15th.

It will be a massive 330+ Bitcoins! That's 0.013469387755102 per bond!
legendary
Activity: 938
Merit: 1000
What's a GPU?
Great news, everyone!

Synergy is live on BTC-TC! Check it out at https://btct.co/security/SYNERGY

Bondholder info has been processed by BTC-TC this morning and everyone on the lists supplied by GLBSE will be recieving an email shortly. Be sure to check your spam folder! If you didn't receive an email and you are a bondholder, please contact me at [email protected] and include your email and bitcoin address you gave to the GLBSE claims form, and the number of shares you own.

After you receive your email containing the account login information, I recommend that you make a new account which you will more easily be able to remember and transfer the shares accordingly. BTC-TC has no internal transfer fees Smiley

Additionally, I am automatically emailed a bondholder list every 12 hours, so we won't have this problem if the new exchange ever shuts down!

Cheers,
Garrett
legendary
Activity: 1106
Merit: 1006
Lead Blockchain Developer
Synergy is up for vote by the site mods in the "Awaiting Approval" tab.

Pending approval, it will likely be imported similarly to Cognitive.

Cheers.


It probably wont be as well received as cognitive. A few moderators dont like perpetual mining bonds.  Smiley

It's good to have some pushback.  It improves the quality of the assets overall I think.
full member
Activity: 238
Merit: 100
I see that you have put Cognitive up on Btct.co.

Will you be doing the same with Synergy?

If not, what is the situation for shareholders as you now have, according to Nefario, the shareholders list?

Synergy is up for vote by the site mods in the "Awaiting Approval" tab.

Pending approval, it will likely be imported similarly to Cognitive.

Cheers.


It probably wont be as well received as cognitive. A few moderators dont like perpetual mining bonds.  Smiley
full member
Activity: 234
Merit: 101
That's great to hear, burnside, thank you.

By the way, I think you're doing a fine job with Btct.co.
legendary
Activity: 1106
Merit: 1006
Lead Blockchain Developer
I see that you have put Cognitive up on Btct.co.

Will you be doing the same with Synergy?

If not, what is the situation for shareholders as you now have, according to Nefario, the shareholders list?

Synergy is up for vote by the site mods in the "Awaiting Approval" tab.

Pending approval, it will likely be imported similarly to Cognitive.

Cheers.
full member
Activity: 234
Merit: 101
I see that you have put Cognitive up on Btct.co.

Will you be doing the same with Synergy?

If not, what is the situation for shareholders as you now have, according to Nefario, the shareholders list?
member
Activity: 104
Merit: 10
Any updates?
legendary
Activity: 938
Merit: 1000
What's a GPU?
GLBSE Has now opened a form to get your assets back, and without any personal information aside from an email address!

Head over there and fill out the form!

I've been talking with the founder of GLBSE and it looks like he is on track to get everything resolved within a week.
legendary
Activity: 938
Merit: 1000
What's a GPU?
Coupons paid! Have a good weekend!
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