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Topic: [GLBSE] PureMining: Infinite-term, deterministic mining bond (Read 39756 times)

Meni Rosenfeld (OP)

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

April 21, 2013, 08:28:18 AM

#281

Quote from: Abu22 on April 21, 2013, 03:36:26 AM

Hi, so far you've been one of the most helpful, honest and profitiable (dividend wise) bitcoin venture I've put money into... Are you still waiting for a secure colored coin platform or similar before re opening your doors to more investors etc? I ask this because I'm interested in some more shares...But would also like the abimilty to easily liquify the shares as I see fit..So would only be comfortable trading through some stock exchange medium. Bitfunder doesn't float your boat? Anyway, thanks bye.

If I do issue new bonds it will be in the form of colored coins. But with the explosive growth of Bitcoin in general and in Israel in particular, my other businesses consume roughly 200% of my time, so this is unlikely to happen in the near future.

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary) |   PureMining - Infinite-term, deterministic mining bond

senor_coconut

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a big question mark

Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

April 25, 2013, 04:01:25 PM

#282

Quote from: Abu22 on April 21, 2013, 03:36:26 AM

Bump.

Meni, should you find the time please let me know too, I'd be interested in buying in.
And thanks for your honesty and being an exception around here.
You're not just getting BTC, you're getting karma points from many of us.
All the best
M

viboracecata

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Varanida : Fair & Transparent Digital Ecosystem

Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

April 26, 2013, 10:06:15 AM

#283

Quote from: senor_coconut on April 25, 2013, 04:01:25 PM

Quote from: Abu22 on April 21, 2013, 03:36:26 AM

iBuilding A Better Interneti
━━━━━━━━━━━━━━━━━━━━ ● ◉ ● ━━━━━━━━━━━━━━━━━━━━

⇃

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You Can See Me Now, Hi :}
VARANIDA

↾

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Hello Again
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ThePanCakeKid95

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

May 13, 2013, 09:53:53 PM

#284

Have you ever considered relaunching on BTC Trading Corp? https://btct.co

Meni Rosenfeld (OP)

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

May 14, 2013, 05:59:35 AM

#285

Quote from: ThePanCakeKid95 on May 13, 2013, 09:53:53 PM

Have you ever considered relaunching on BTC Trading Corp? https://btct.co

If I do relaunch, I intend it to be using a decentralized platform such as colored coins.

ThePanCakeKid95

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

May 14, 2013, 07:20:52 PM

#286

Ok, thanks for the reply

Also this might be a stupid question but why not buy ASICMiner equipment as the upgrade and sell the old hardware verse using BFL and their buy back program?

ThePanCakeKid95

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

July 03, 2013, 01:52:11 AM

#287

any new news?

ripper234

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Ron Gross

Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

July 03, 2013, 08:46:29 AM

#288

Quote from: ThePanCakeKid95 on July 03, 2013, 01:52:11 AM

any new news?

Meni's out of new news at the moment.
Care for some old news? Wink

Please do not pm me, use ron@bitcoin.org.il instead
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Co-founder of the Israeli Bitcoin Association

Meni Rosenfeld (OP)

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

July 03, 2013, 02:23:07 PM

#289

Quote from: ThePanCakeKid95 on July 03, 2013, 01:52:11 AM

any new news?

Not at this time.

ThePanCakeKid95

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

October 16, 2013, 05:18:38 PM

#290

So any new news? I knew you were talking about investing into ASIC's any news on that?

Meni Rosenfeld (OP)

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

October 16, 2013, 05:46:42 PM

#291

Quote from: ThePanCakeKid95 on October 16, 2013, 05:18:38 PM

So any new news? I knew you were talking about investing into ASIC's any news on that?

2 of the 3 BFL 500 GH/s rigs I ordered are now operational. Why do you ask?

ThePanCakeKid95

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

October 20, 2013, 03:17:06 AM

#292

I was just wondering, I like to stay informed with PureMining and also since I'm invested in it lol Tongue

trifith

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

November 26, 2013, 02:05:08 PM

#293

I've been 'receiving' a dividend from puremining about once a week lately that never confirms. Any info available on this?

See for example, https://blockchain.info/tx/3da8b1ab5f02159b62db4048de2e0ba4e4636cb2ae17540b176bd17a06556db0 from 11/24 and unconfirmed

Meni Rosenfeld (OP)

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

November 26, 2013, 08:25:59 PM
Last edit: November 26, 2013, 08:38:51 PM by Meni Rosenfeld

#294

Quote from: trifith on November 26, 2013, 02:05:08 PM

It's a known problem. Or at least, I know this transaction (from Nov 2) hasn't confirmed, I didn't know you get repeat notifications about it.

The API call to blockchain.info that I used so far used their default fee, which apparently isn't sufficient for this transaction. I've since started paying a higher fee. If the tx doesn't confirm I'll send another tx for the payment, and I hope the unconfirmed one will be forgotten eventually.

Meni Rosenfeld (OP)

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

March 25, 2014, 05:57:12 PM

#295

The difficulty is now so high that paying the coupons regularly is no longer worth the trouble, for me and I suspect also for the bondholders. I will therefore move forward with buying back the bonds.

The original buyback clause stated the price will be 120% of the GLBSE highest recent traded price. GLBSE no longer exists so that's irrelevant. However, I've noticed that during the time the bond was traded, it went for about 40% of the ELE (extrapolated lifetime earnings). Therefore I believe a buyback price of 55% of the current ELE is fair.

The formula for calculating the ELE for a 1 MH/s bond is

RemainingUnmintedBTC * Hashrate * SecondsInDay * DaysInTwoWeeks (2^32 * 2016 * Difficulty) =
8439175 * 1000000 * 86400 * 14 (4294967296 * 2016 * 5006860589) = 0.0002355

55% of that is 0.1296 mBTC per bond, a total of 2.0173536 BTC.

I intend to go forward with the payout in the next few days. If anyone has a reason why I should not, speak now or forever hold your peace.

Naelr

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

March 25, 2014, 06:28:16 PM

#296

Make it so Number One!

You have been as fair as anyone could have hoped for and I for one appreciate everything you have done... Good luck with all you do in the future and thank you for all your hard work.

Naelr

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Poor impulse control.

Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

March 26, 2014, 12:24:51 AM

#297

Sounds quite fair. Thanks for creating, (and maintaining and ending fairly) the most reliable instrument to have been a part of GLBSE.

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DARKNETMARKETS.COM

Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

March 26, 2014, 12:37:27 AM

#298

Thanks for everything, Meni. I will be happy to receive final payout as you calculated.

DARKNET MARKETS >> https://DARKNETMARKETS.COM

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

April 04, 2014, 06:33:12 PM

#299

it should be useful to continue to run PureMining in Colored Coins
just as promotion and test for Colored Coins

Meni Rosenfeld (OP)

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Re: [GLBSE] PureMining: Infinite-term, deterministic mining bond

April 06, 2014, 08:02:01 AM

#300

It is done. The payments have been sent in transaction b9c7cd2a6192818c9c1e2b8824e62361477dfdaa8b340be8d492fd1aac601507.

Thank you everyone for your support throughout the many phases of this bond's 2-year life.

Quote from: tablekart on April 04, 2014, 06:33:12 PM

it should be useful to continue to run PureMining in Colored Coins
just as promotion and test for Colored Coins

This is true. But in order to do a service to Colored Coins it needs to be done at a meaningful scale, which comes with a set of legal and operational challenges. Perhaps at some future time.

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