Quote from: DiabloD3 on April 20, 2012, 09:37:28 PM

Share contract:
The revenue will be split in two parts:

1) 50% of all mining revenue will be distributed to shareholders in the form of dividends (henceforth referred to as "dividends"). These dividends will be paid monthly, split evenly among all shares regardless of class or issuing date.

2) 50% will be used to invest in additional hardware, decrease the cost of mining, and/or pay for operating costs of the company (henceforth referred to as the "growth fund").

Each share represents 0% of the ownership in the company assets. In the event of liquidation, 100% of the revenue from sales of the assets and 100% of the growth fund, minus any expenses incurred from the operation or liquidation of the company will be paid to shareholders.

The operator of the company retains three special rights, regardless of the number of shares held by the operator: 1) the right to raise a motion, 2) the right to end operations and liquidate assets without motion, 3) to quash any motion to control or direct the use of the growth fund.

Hmm, that sounds a lot like my offer. At least in general structure. Except instead of 50% for buying equipment and fees, it's 40% buying equipment and 10% fees. Otherwise same thing for buying equipment, selling assets and for dividends. Members actually do have right to 100% of the equipment and vote for selecting which kind to buy. I would simply manage the equipment for a fee.

Sounds like good rates overall. You've even had lot of talk. Although it seems like bad publicity. I suppose the 1 million shares IPO and lack of information didn't help. Care to give us more detailed information like planned equipment you'll purchase, how much do you actually expect your fees to actually take up, etc.?
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Quote from: BinaryMage on April 21, 2012, 11:31:04 PM

Quote from: DiabloD3 on April 21, 2012, 09:04:50 PM

Quote from: Stephen Gornick on April 21, 2012, 08:41:52 PM

Quote from: DiabloD3 on April 21, 2012, 08:24:10 PM

I'm generating 1 million shares no matter what.

Would you rather pay 1BTC for each now, and get 50% of mining output.... or pay market prices and get paid nothing for 10 years, 100% goes into growing the mining company, and I sell 1000 shares a month at market prices.

Did I read that correctly? 10 million shares owned by you now, then sell 1K of those shares per month for 10 years, means you still have 856,000 shares after 10 years?

No, I said 1 million, not 10. Although, yes, it'd take 83 years.

Pretend I said 5,000 shares a month, that seems more reasonable, it would take almost 17 years to sell them off if I did my math right.

I'm a full proponent of online currencies, but the probability of Bitcoin still existing in 83 (or even 17) years is quite frankly abysmal.

I'm sorry, but they'll stay around as long as people value them and are willing to trade with them. I'm pretty sure it could live on more than 20 years, even if that means a large devaluation. It has become a convenient payment method for many people online (still low compared to other payment processor, but for such an odd concept, I still find the adoption impressive). It's possible they'll be gone by then, but I don't think their chance of surviving that long is even close to as grim as abysmal.
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Quote from: Sukrim on April 21, 2012, 12:20:54 AM

Quote from: BinaryMage on April 21, 2012, 12:14:09 AM

I don't approve of Facebook, but it seems to be doing alright. Wink

How are these two similar?

Overblown IPO. If Facebook manages to pull a 100 billion IPO off (and it looks like it) they could pay every one of their users more than 100 USD(!).

The difference is, however, that facebook will sell out quickly. 1 million shares @1BTC each probably won't, especially not with these terms. I might risk 8 coins too however and also start a trolling IPO and then (as I'm allowed in my contract) "sell" everything, take the money and laugh. Cool

Well, that seems a bit unfair to say. His contract DOES include a clause that 100% of sales are returned to members, in case equipment must be liquidated.