One reason I think it was not selling at 1.00 was that the market had several days notice that the price was going to be moved up.  It looks like there were many people that bought at 0.75 and sold at 0.99 for a quick profit.

In the future, I recommend taking the large block of shares off the market while a price change vote is up for consideration.  This will help avoid these arbitrage games.

But was there a vote?  If there was a vote to drop the price that wasn't advertised here, I'll stop complaining.

I used to be an investor.  Sold off because I never got any info.  Was thinking about buying back in now that some miners were up, and then I see shareholders who are trying to sell getting undercut by the corporation they invested in.  Was this price drop done with the consent of the shareholders, like the price raise, or was it arbitrarily executed by Taswix?

Considering there are 3500 outstanding shares from the IPO, that's a long time for shareholders wait so they can treat their stock like, you know, a stock.

Also note the vote to take the price up to one was initiated by Taswix, so I don't see how he's completely innocent there.

So once again, can anyone tell me if the price drop was approved by the shareholders?

You prove yourself that you are only interested in new investors and ignore the valueation for shareholder of any BTC already in your pocket. Its not a scam, its a mining ponzi scheme you are running to fund your mining operation.

I think I need to weigh in on this.

Essentially, attempting to sell the shares at a higher price than the initial IPO offering simply will not work, it's not that the system is being gamed but that the system will not let you(Tawsix) game it.

Others have bought shares at the original 0.75btc price, unless there is more demand(more people want to buy) the price will not rise. This is the only reason that the price can go up in a market is if demand increases or supply decreases.

You are attempting to sell more shares, so supply is not decreasing, it is in fact increasing.

You can say that you will only sell the new shares at 1btc, but this simply will not work, because there are shareholders who have bought (many) shares for 0.75btc, and as long as you sell for even 2 satoishis (0.00000002btc) above 0.75btc the previous buyers will be able to sell at a (small) profit before you ever sell any shares.

Simply put you can't beat the market, and it's not a problem with glbse or with anyone gaming the system. THIS IS THE GAME.

You have to give peopel a reason to want to pay 1btc instead of 0.75 for a share, perhaps a new share that pays a higher dividend, or greater voting rights or something.

Or you could pay a high dividend, this will automatically cause demand for your shares to rise.

You could try to go outside glbse to sell at 1btc but you'll fail. Why would someone buy at a higher price from you when they can get the same thing cheaper (and easier) from the market?

Your only choice is to start paying dividends, sell new shares at the same price, or sell new shares at a lower price(which current shareholders probably won't like).

If you sell new shares at a lower price you won't be able to get the price higher until you get demand higher, and that will only happen with dividend payments.

I believe the market (and that's what you're operating in, a free and open market) won't give you any more capital until you start paying dividends.

Your only choice is to start paying dividends(whether now or in the future), and this means getting mining up and running.

Nefario.

Nefario: The intention on my end was not to game the market, it was to give the initial investors a reward for their early trust.  I say that I got gamed because some people bought into the shares once the announcement that the value of the shares would be increased for the sole purpose of undercutting the IPO once it was repriced.  I agree that dividend payment will renew interest in the shares, and that is currently the goal to reach after bringing the total capacity of the company online.

vess: I can not take the IPO down, it will be the main source of income until many more rigs are brought on line.  The purpose of the shares sold was to raise funds, not create a market for shareholders.  The intention was that shareholders were in it for the long run, making an investment, not that they would see immediate liquidity in their stocks.  Once dividends begin being paid, which will occur when everything is settled in, the IPO will begin selling again.

As far as the new rigs arriving: they are currently scheduled to arrive on Monday.  This weekend I will be unlocking all of the GPU's I currently have so that they can be overclocked higher once the rigs arrive.

What I meant was that you couldn't tell the market what to do, essentially when a market is free you can't beat it, so try to harness it.

Also you really will have to pay dividends before selling more shares, simply no one will buy anymore until you do. That's the market. It's not going to wait because it doesn't have to. And it shouldn't, you should already be mining, and getting ready to pay dividends in a day or two. Look at DISHWARA, he's already paid his first dividend and is on track for another, and he's in India, your in the states, you should be paying dividends already.

This isn't China, shareholders are king here.

Using filharvey's logic the price of shares could drop lower than 0.75... hmmm I'm not so sure. I'm with nefario on this - show some progress by paying out a dividend. That'll get people interested again.

I can't quite go with your logic.  I didn't invest.  By the same logic, I have doubled my money by not investing.  As long as the trade, and the reward/dividends are in BTC, the USD values are irrelevant, except when investors finally cash out.  And until they receive BTC in dividends, all they've done is incur risk with no reward.  In fact, since the value of the purchased equipment vs. BTC has decreased, without revenue generation occurring, I'd go so far as to say the existing shareholders have lost money.

OK, I'll quit being a Debbie Downer now.  I really would like to see this project succeed.  However, if things do fail hopefully the community will learn valuable lessons in trust and anonymity.

I understand what you're trying to say, but Tawsix already said that he's wanting to sell the IPO shares as soon as possible. I would have liked to see a vote, but I don't consider him not issuing one a big deal.

All the shares up for sale is a pretty easy way to publicize the amount of unsold shares.

I don't think how Tawsix sells the share will affect the investor confidence, it will depend more on his ability to help the image and profitability of the company. Once the first dividends are handed out, expect a jump in confidence. Either that, or us passing superman3486 on BTCMine would.

The sale of the IPO shares is what I would like to see happen ASAP, I would not like to see Tawsix resort to selling below .75 to achieve this though.

Not sure if it's what you need, but here's data for the SkepsiDyne rigs that are already active:
http://btcmine.com/api/getstats/020d055f94131c4b29baeca9915c7e04917bb18e/
http://btcmine.com/api/getminerstats/020d055f94131c4b29baeca9915c7e04917bb18e/