9/30 Update:  Weekly payout paid!


Bitbond (GLBSE ticker BITBOND) is a perpetual mining bond where you can buy mining power and receive weekly mining payouts, without buying and maintaining expensive hardware.  Payouts will continue indefinitely.  It is the largest bond in existence and the largest security on GLBSE

Bond features

• A total of 200Gh/s offered in 2Mh/s increments
• Weekly payouts are 105% of PPS
• PPS means no variance
• Perpetual - no expiration date
• Buyback provision at 110% of 15 day GLBSE average

Benefits over other bonds

• 105% PPS means more bitcoins - a bigger payout and more coins before difficulty increases
• Positive ROI several weeks quicker - up to 13 weeks sooner
• Higher buyback provision - get paid more if I buy back the bonds

FAQ

When would payouts begin?
Payouts started on 4/8/2012
See the post after this for payout history

How long will it take to start mining?
Mining started on Saturday 4/7 at 2 PM.  It is a subset of my mining hash power currently on maxbtc.com

What is your hardware setup?
I exclusively run GPUs for mining due to my low power costs.  I may offer further bonds in the future with FPGA hardware if the economics are right and the FPGA vendor can deliver when I need it

Why/how 105% PPS?
First, I will be doing merged mining so those coins will be used to increase the pay per share.  Also, I would like to offer a good value for each bondholder. The extra 5% will add up over the weeks, months, years.  If reinvested it will greatly accelerate ROI compared to 100% PPS options.

What if you have technical issues/downtime?
I have more than 210 Gh/s operating with a total capacity beyond 300 Gh/s.  Should there be any downtime, I will contribute hashes from my personal farm to ensure the full dividend is paid each week.