Bitcoin Forum

The Vision:

Over 50% of the Bicoin mining is being done in China. While this is lucrative business for many, one challenge faced by many miners commonly is cash flow strains. Those who find themselves in urgent need for cash can?t obtain a loan from the traditional channels - the banks wouldn?t accept Bitcoin miners as collaterals. While they can sell their machines to other miners, this is often time-consuming and involved pain-taking negotiation, leaving them often at the mercy of loan sharks.

Ruixi Wang is one such miner. He has been involved in mining since 2013 and owned a mining farm in Tianjin. While the electricity is cheap, he doesn't have the fund to scale up fast enough. Recently he want to buy a bunch of new miners to take advantage of the golden period before the block reward halving. While his miners continue to generate a steady stream of revenue, it was not enough for what he needs to pay the down payment.  

Lbtcl is just a platform that aims to serve the need of Wang and many other Chinese miners like him. The vision is that this place should allow miners to sell their hash rate, or the future revenue for Bitcoin. Investors from the world can buy whatever amount they feel like and trade among each other.

The IPO price is calculated based on the established platforms such as Bitmain?s Hashnest. To incentivize the early users, Lbtcl plan to sell one PH of hash rate LOWER THAN MARKET RATE on Tuesday.

Stay tuned!

So it is more like announcement of an announcement, rather than actual service description. I need to see actual service's site, prices and terms to decide how impactful this project could be.
If I understand correctly, The final day for this announcement is Tuesday?

The URL: https://lbtcl.com
Check it out!

Why do we choose Wang Ruixi?
This is the guy!
https://i.imgur.com/8JW7KxZ.jpg
Wang is a long-time Bitcoiner that has been active and well-known in the community.
He appeared on China Central Television for helping the police to catch the criminal gang running the fraudulent website GBL.
He also helped other people to find the hacker that stole money from a LTC exchange.
By making him our first listed seller, we want to make the world know that we try to do everything to ensure that people and their hash rate are real and legitimate.
Related article in Chinese can be read here:
http://8btc.com/thread-28172-1-1.html

I have bought a little to show my support to Wang!
(Not sure whether i m the first one)

Instead of investing at Hashnest that based on antminer Model, perhaps investing on the entire ant farm will make more sense.

ALL THE BEST, Wang!!!

Thanks for your support!

I cannot understand this website because I am thinking that it is cloud mining site but the website is claiming to be the most secure bitcoin stock exchange.

Thanks for your interest.
There maybe a bit language problem as we are chinese. The idea is that the miners sell hashrate on this site by issuing stocks.
We think that the site is secure because the trading is done on the Bitcoin blockchain, therefore the exchange itself hold little that can be stolen by hackers.

Sounds interesting and quite reasonable. I expect they can get the platform working soon enough. In the meanwhile, best thing is stay tuned to this forums for further announcements?

It's kind of IPO his current running BTC mining farm where they quantify their hashing power into shares for investors to subscribe.

11 shares have been sold!

Great then though I am yet to visit the website but is the price cheaper than cex.io and bit-x?
I am interested in cheap hash.
This is written in Chinese, how do I buy some hash over there.

Ah, I see this is cloud mining service from Chinese, well it's not surprisingly if the price is more cheap than bit-x.
Can you give a some photos from your farm mining?


https://lbtcl.com/en/help#chap02-section02

Yes.
https://i.imgur.com/E4go7Lw.jpg
https://i.imgur.com/Dtd2g8B.jpg
https://i.imgur.com/kNntucR.jpg
https://i.imgur.com/EJUxp7g.jpg
https://i.imgur.com/8JW7KxZ.jpg

38 shares sold!