dividends

[cryptodough]

Feb 24, 2014 14:04:24 GMT -6 gmrpr7 said:

I agree with the need for the most transparency possible.

In regards to coin hopping I agree it is not very good in our situation. However, what about if I donate my miners for speculative mining? They would only take up one controller so if we pick the wrong coin, it's not the end of the world (still plenty of hashing power left).

I do agree the wallet setup issues and people spamming about their favorite coin would be a problem. I'll see if I can think of any possible solutions.

I don't think this idea should die this quickly, but it is probably too early to be thinking about this.

Then you open the box. I don't think there should be any 'can I do X with my miners' as long as the miners are physically at the farm. I am of the opinion that as long as they are at the farm, they should be mining what Fasbit deems to be the most profitable coins.

The problem is, say you want to do "speculative mining", well I don't want my dividends, or any other investors dividends to be potentially negatively impacted because a few people want to go out on a limb and do "speculative mining". Fasbit has been running a profitable mining operation for some time, so I'm sure he has more experience in that department than most of us, which is why I trust him to make that call.

Now if he were to open it up for debate, or need help of some sort with market watching, any of the points I mentioned in the earlier post, then that is one thing. However, I still think it should be committee-based and that the whole of the profits be distributed among all shareholders. An example of that would be:

• Committee chooses coins to mine and puts it to a vote
  
• Shareholders vote on the coins to be mined / when to sell and on what exchange
  
• Dividends are distributed evenly among shareholders
  

But that's really about as diverse as I could imagine this getting, but feel free to give any input if you have any ideas where there could be improvement. I do see one drawback (?) to this, and that is that it would require active and participating shareholders who are willing to stay updated and check the forums and cast their votes. Perhaps that is something we should take to a vote? 

Sorry for going off on a tangent, but obviously there are a lot of possibilities here, and that's what this forum is for - open discussions! I very much appreciate your input and I'd encourage anyone who is invested to do the same!

Once again, once people start going off on their own limbs, at that point, they are more of a risk, and it just makes more sense to use your shares to purchase the hardware yourself and mine how you see fit, where your gains / losses do not affect shareholders.

Again, that is just how I see it, as I am a firm believer in minimizing shareholder risk, at least in this endeavor. Perhaps the best place for something like the speculative mining would be to setup another cryptostocks account, and place another order through gridseed / mining hardware vendor of your choice, and try to get the ball rolling on that project. I just don't feel speculative mining is the right "fit" here in this project. Once again, I'm not the sole authority here, this is a community project so I welcome any constructive criticism and feedback.

[gmrpr7]

Oh by no means was I saying that I wanted to use my own miners at the farm for speculative use without a vote and fastbit's approval. I'm sorry if I came off a little strong, that wasn't my intention. I meant WAY down the line if there are diminishing dividends (difficulty going up, BTC going down, etc) this could be a way to stay profitable while we acquire more hardware or think of another plan.

Just an idea that the more I think about, the less feasible it seems :/

[cryptodough]

Feb 24, 2014 14:59:26 GMT -6 gmrpr7 said:

Oh by no means was I saying that I wanted to use my own miners at the farm for speculative use without a vote and fastbit's approval. I'm sorry if I came off a little strong, that wasn't my intention. I meant WAY down the line if there are diminishing dividends (difficulty going up, BTC going down, etc) this could be a way to stay profitable while we acquire more hardware or think of another plan.

Just an idea that the more I think about, the less feasible it seems :/

My mistake, no problem.

I agree with adjusting down the line based on divided return, 100%. My post was long-winded, not as a rant toward your or idea (I think your idea is good under the right circumstances btw), but because I'm kind of like you and I see a lot of potential possibilities with the hardware, with it being as versatile as it is, and things were just kind of flying off the top of my head.

Sorry if you took my post as an attack on your idea specifically, as I'm just a shareholder myself, and my opinion holds the same weight as yours after all!

[gmrpr7]

Cool, I think we both misunderstood each other which is easy to do in writing. I've thought about it more and it's best to Keep It Simple Stupid lol. We'll consider other options only if they are required.

I think I'm just anxious about getting the miners and my brain is acting like we already have them haha.

[fasbit]

If I had a program that would show all of that and link to web site, I will do it in a heart beat. I am having no luck with BAMT plus its has some kind of new sketchy built in fee deduct system (pass). Im looking into OpenCL right now... anybody used it?

[gmrpr7]

I've only ever used plain cgminer and various GUIs for it (gui-miner scrypt and CGWatcher) on Windows. I use Linux, but not for mining.

[cryptodough]

Yea I've only ever used cgminer, vertminer, etc. Never used OpenCL.

[sirejoe]

There is a CGminer mod pack that has a built in multipool option: sites.google.com/site/rmdavidson/

He has some cool stuff and seems to update them often.

[fasbit]

Feb 24, 2014 19:31:23 GMT -6 sirejoe said:

There is a CGminer mod pack that has a built in multipool option: sites.google.com/site/rmdavidson/

He has some cool stuff and seems to update them often.

Thanks...I will check that out

[galvin]

I don't care about favorite coin. So I wouldn't send mails. Long as its profitable, who cares

[rmtmadness]

For what it's worth, I believe fasbit could just inform investors what is being mined. Profitabilty appears to change by the second. No way to keep up with that and not cost a lot of time and stress. Galvin's comment is to the point. Bottom line is profit and dividends.

As a note, I have not seen a multipool option (switching) that makes sense to me yet. If someone out there has seen the profits (measurable) improvement of using a switching pool let me know. If you mine the most profitable out of the top five or ten, that seems to work for me on a daily basis and I look at my mining everyday.

[fasbit]

Personally...if we have at least 30mh/s, I think solo is the way to go. I spend hours tracking down multipool transactions and checking multiple blockchain entries trying to verify that I got all of my coins... it sucks. Last week I mined on multipool and TIPS was the flavor-of-the-day. I noticed a serious lag on my deposits so I investigated, and the TIPS blockchain was on the wrong fork. Unbelievable waste of time. Plus, no matter what anyone tries to claim, solo mining is mathematically more profitable than pool mining, IF YOU DONT COIN HOP. The pool is no more lucky than you are, only bigger. And they charge a fee. Its impossible to be more profitable to mine in a pool. It just gives us a "warm and fuzzy" feeling to see regular deposits. I'm seriously done with pools. Here is a real list of pool issues:
Pool Fee
DDOS outages
Server Outages
Stuck Transactions
Limited Look-Back period on Transactions - Some limited to 50 last transactions
Limited ability to transfer transactions to a spreadsheet

That's my opinion and its based on 2 years of mining experience.

### EDIT - After all, all a pool does is SOLO mine for you, by proxy ###

[cryptodough]

Feb 27, 2014 11:31:29 GMT -6 fasbit said:

Personally...if we have at least 30mh/s, I think solo is the way to go. I spend hours tracking down multipool transactions and checking multiple blockchain entries trying to verify that I got all of my coins... it sucks. Last week I mined on multipool and TIPS was the flavor-of-the-day. I noticed a serious lag on my deposits so I investigated, and the TIPS blockchain was on the wrong fork. Unbelievable waste of time. Plus, no matter what anyone tries to claim, solo mining is mathematically more profitable than pool mining, IF YOU DONT COIN HOP. The pool is no more lucky than you are, only bigger. And they charge a fee. Its impossible to be more profitable to mine in a pool. It just gives us a "warm and fuzzy" feeling to see regular deposits. I'm seriously done with pools. Here is a real list of pool issues:
Pool Fee
DDOS outages
Server Outages
Stuck Transactions
Limited Look-Back period on Transactions - Some limited to 50 last transactions
Limited ability to transfer transactions to a spreadsheet

That's my opinion and its based on 2 years of mining experience.

### EDIT - After all, all a pool does is SOLO mine for you, by proxy ###

So true. Great post.

I would be cool with mining solo and seeing how it goes.

[gmrpr7]

The only reason I don't mine solo is the fact that I'm a little lazy haha. Setting up 20+ different wallets when the profitability changes so often is just not my cup of tea, but I know I'm basically paying a fee for convenience. I do agree that it should be more profitable due to not having to deal with DDOS outages, fees, and questionable pool management.

As long as you're up to the task, I think solo mining is a great idea. We definitely will have enough hash power to do it effectively.

[fasbit]

Dividends from Pool mining will be as such:

5/7 - Paid Dividends
1/7 - Hardware Allocation
1/7 - Overhead and Profit - Fasbit

All revenue will be posted to Public Wallet.
/fasbit