Re: New IPO [GLBSE] [Bakewell] - Finally, a transparent investment that will grow!
Hello again. I am enjoying this discussion.
I am also being hard on you because I want BAKEWELL to succeed.
Also, running a mining rig that thousands of shares rely on for dividends is way more involved with the personal mining that you have been doing.
When you start mining "this big" you have to consider stales/rejects much more carefully. Things like lost packets, and ping times to the mining pools actually become an issue. As a gamer, I'm sure you know what I'm talking about. This also leads to making sure you have a very stable internet connection from the rig to the pool.
Every little problem gets amplified at this large scale. Just one hour of any downtime is significant. These are just some of the things to be considered.
As I understand it, you have 100K shares broken down into 3 categories:
I see no reason why any loan can't be paid back using profits from the maintenance shares--especially since you are using it to grow the equipment. This is exactly what its for.
You can still keep your 20-30-50 ratio by selling 5 common shares, and then activating the 2 founder and 3 maintenance shares.
By activating, I mean all unsold shares--and corresponding "unsold" founder and maintenance shares should not receive dividends.
I am also being hard on you because I want BAKEWELL to succeed.
I am well aware of what is required to run a mining rig. I am a gamer who discovered bitcoin, pushing gpu's to the limit is something I am quite good at.
[snip]
I am new to this
Tho that specific quote is in relation to the wording of the shareholder contract...
I didn't mean to step on your technical knowledge, but running a company is a new thing for you, and it has its own perils and pitfalls.[snip]
I am new to this
Tho that specific quote is in relation to the wording of the shareholder contract...Also, running a mining rig that thousands of shares rely on for dividends is way more involved with the personal mining that you have been doing.
When you start mining "this big" you have to consider stales/rejects much more carefully. Things like lost packets, and ping times to the mining pools actually become an issue. As a gamer, I'm sure you know what I'm talking about. This also leads to making sure you have a very stable internet connection from the rig to the pool.
Every little problem gets amplified at this large scale. Just one hour of any downtime is significant. These are just some of the things to be considered.
Loaning would imply having it paid back with interest, I am not so sure putting BAKEWELL in debt (even to myself) is a good idea at all.
You can still loan personal rigs/coins/whatever and charge 0%. The principal would still need to be paid back but I would suggest using the "maintenance/growth" shares for this.As I understand it, you have 100K shares broken down into 3 categories:
- 20% Founder Shares -- Your personal profit
- 30% Maintenance Shares -- For maintenance and growth of equipment
- 50% Public Shares -- For the rest of us
I see no reason why any loan can't be paid back using profits from the maintenance shares--especially since you are using it to grow the equipment. This is exactly what its for.
I understand this concern & am trying to figure out a way to fairly address it.
I believe you may be right with deploying the GPU's first and as funding becomes available
I believe you may be right with deploying the GPU's first and as funding becomes available
You can still keep your 20-30-50 ratio by selling 5 common shares, and then activating the 2 founder and 3 maintenance shares.
By activating, I mean all unsold shares--and corresponding "unsold" founder and maintenance shares should not receive dividends.