Bitcoin Forum

Hello. We plan to build a new mining farm, using ICO based on Ethereum. Our token entitles holders to up to 50 percent of the profits from mining, paid using the Ethereum contract. Dividends are paid monthly. We have a place with inexpensive electricity and software that can switch the mining coin to more profitable at the moment. It is planned about 100 rigs with 6 GPU each. What do you think about the idea with ICO?

If you are planning on doing this you need a lot more than a paragraph. Where are your pictures and who are the people involved?

Also you need to check your spelling if you want people to take you seriously.

Where is the farm going to be situated? What country?

Eastern Europe

You have to give the full details about the project and where is it situated and some pictures that should be live pictures of the project and some proof of the projects that does it really working or it is just like some other fake scam ICO. So after when you give full details then only other can give you details about the project is worth to invest or not.

You right, but now we want to understand the interest as a whole.
We will publish white paper and submit our team if we understand that this approach is real.

p.s. sorry for spelling English not native for me

Where in Eastern Europe? There s big difference between Croatia and Moldova, for example in terms of power price and business environment.
Also, how would this work in terms of investor protection. What stops you from running away after you get the money for funding.

Instead of writing a simple amd short text about what the project is about, I advise you to create a big business plan so that potential investors are attracted by your project. Now the project looks a bit shady since you just wrote four lines and than are planning an ICO.

Of course, we will provide a business plan, white paper and introduce the team with all the details, but first we want to understand whether there is a sense to move towards ICO. We do not know the examples of the ICO for the mining farm, and perhaps there will be no interest.

What stops any person from running away after he get the money?

We are interested to discuss how an investor can be protected.

Good idea but not enough proof that you can do it. Introduce your self your team, inform about your plan, location, area size, estimated investment size etc etc.

Sure we will do it.

I think it is a good idea, but you need to ensure the ICO investors a guaranteed return. You can do this by spending 50% of the ICO funds on mining gear and keep the other 50% of the funds in escrow. U also need to make daily video/photo updates so we can see the progress, transparency and consistency is the key. This will lead to a great and profitable project. It will cost you alot of time and effort and don't expect big profits at once.

Good advice, thank you

The creating daily diary with photo and video reports in our plans.

Mining farm - so you are planning to rent out the hash power? Or will you be mining it yourself?

Why ICO? What do investors get out of it?

This will just end up like cloud mining. Am I right? Actually this idea is a brilliant but in the past year when mining are still profitable. The difficulty of blocks and transaction are very slow ATM. I don't think so that ICO mining is a wise choice. See SONM project for inspiration.

No, it is not cloud mining. We plan mining it yourself and pay investors 50% coin was mining.
May be no need ICO if we found investement in other way.

Would you be willing to meet in person? Still waiting to hear where in Eastern Europe are your located?

Yes you can meet in person if there is interest.

Head office in Russia.

Ah, sorry, that s too far east for my case. Good luck.

No problem.

Than I would be happy to invest in this project. Now work on your plan and build a team of interested people. Than launch your ICO and make this project a big succes. I wish you good luck, I actually think this could be very profitable if done in the right way.

yes,, daily report with real videos is very good idea,,
this is only to make sure that you are really build a mining farm..
regards

I think you should make a website about your mining farm. Make some business investment analysis so  readers can estimate how much they will invest in your mining farm

yes, white paper and website in process

Looks interesting, how much is the electricity where you plan to mine? Will you be mining in Russia or in which country? I also agree that a part of funds should be in escrow for the protection of funds this would calm the investors. There already exist containers with cooiling and mining rig and can be transferred anywhere, but they are expensive (450k+). Also how much money is needed for the project and the min. investment?

Power in my country is 6 cents per KWH, on average. I m sure Russia is even cheaper.

Nice, I added 0.06$/kWh and pool fee 2% and you could get ROI under 280 days now that price is so high. However looking at long term even  2-3 years would be OK, which is great. How long does the mining rig last on average, before replacing it? 

3 cents per KWH


Russia


How much? We are ready to discuss the mechanism of investment protection.


from 250K to 500K, min. 1 token = 1 USD

p.s. If you have any suggestions, we will be happy to hear them

Nice idea. Possible to get involved? Pm pls (in Russian as well)

About PreICO? Only not less "Sr. Member" members can participate in it

Russia? How certain are you that the Russian government will not ban Bitcoin & Crypto currencies? They have been hot and cold on the subject for years now. The two sides within the Russian government is not talking from the same mouth. We have been seeing huge shifts in statements that has been made, on the one hand they are banning it and the next moment they give out good vibes. ^confused^

Political uncertainty is a big business killer. ^hmmmmm^

There are farms that dig bitcoins many years in Russia

Bitcoin is not banned in Russia; it's simply not regulated by law at the moment

By the end of this year, such a law is planned to be adopted and it does not ban Bitcoins, but regulated

Not only that, in terms of working on the backend and devops of the solution, statistics gathering, analytics, and all other things potential team member could do

Dude, this idea popped into my mind last week. Also from Eastern Europe, but currently I live in Taiwan. I was thinking I can find slightly cheaper wholesale hardware here, since lots of semiconductor companies manufacture here. I was also thinking going with renewable energy for the farm/mine.

What I want to know first are the market trends... I have no idea where to start. I know ETH is big now, but it will dip. I don't expect it to completely deflate, but it can't sustain its current growth. Also PoS is incoming at an unknown time. Will there be any other alts who will be profitable with GPUs? Would you diversify and buy some ASICs? Why go ICO and not a loan (for me personally, I might be able to find funding from relatives)?

These are all questions I've been asking myself. What are your thoughts? How far into the planning are you?

We plan mine profitable altcoin at the moment - we have software that will switch mining based on online data.


Yes, so much.


Yes, possible.


If we find investors, we no need ICO.


Our ROI time less 6 month. After that we plan build other farm.

 ;D It's funny, lots of the specs and conditions you mentioned are the same as I thought. I am very interested in the progress of your project - if you start a blog or website, please let us know here. I think I will work on a business plan this summer and see if I will get into the business or not. If we both try to do this at the same time, maybe we can figure out some sort of cooperation (on software and hardware development), if you're open to the idea ;)

Well its just a suggestion not totally a proposal because if he  tend to make a proposal to public then this words aren't enough same as you said because public wont really be convinced on such thing. ICO might be possible but only to the people who resides near on your place but talking about on other edge of the world investors I don't think there are people who would jump on this one.

 Everyone can participate in ICO. Why would you limit it only to people who are close? If whitepaper is OK, team is visible, funds in escrow why not?

I think this would be a very nice plan.
However you would need to be very transparent.
Pictures, public mining addresses etc.

umm......

i think good
but you must fix something.... :o

what?

If you show us a concrete project, I'll be ready to invest some funds.

As he said you must show something that we can be attracted unto it like legalities,project statement and other further good info or whatsoever you can provide since as far as we know there are so many scam ICO right now and we'd been enough to see another one who will exist for now so better you should act professionaly upon introducing your business here.

Sure, we working on it

This seems impractical.

How will you solve the problem with lack of graphic cards? You can't get them anywhere... I am looking for RX 570/80 for at least 1 month and only for 1 mining rig. If you plan to have a lot of mining rigs it will be much harder to get the hardware?

we have access to China`s factory. It is not problem for us.

Wow that is nice!!!

Good idea, nice plan, but you need loads of work. prepare yourself and get to work, the quality of job done will have great influence on investors.

you need to give more details in order to get much more information and make a good assestment

It is difficult to invest in something with so little information

Need a little wait, as soon as possible we give you more info

This seems a nice idea. I liked it. I am interested to invest some funds in this project if you have proper documentation. You need to publish all real data about your campany like address of your campany, real persons behind this project, telephone numbers , exact place of your project etc because who knows you will run away with the amount collected. If you people are  serious, real and trustworthy, then this will be a wonderful project. Anyways I will check your thread daily to see the updates about your project.

@KimJohnWu ,

        If you are interested in a collaboration and you can supply video-cards , i am lunching a project due to start 1st of August 2017 with 100 Video cards mining ETH. I have about 20k GBP invested already, 40K GBP capital,  and i have investors willing to put money in but i made a cap on funding as is a little hard to get good price video cards in time . Currently i am giving 50% of profit after electricity (about 400MH/s for 10kGBP ) , for as long as the system lives which i estimated about 5 years. After i reach about 500 video cards i wont be that generous. I have a team ready, and  another 30 video cards running already for test`s. Also the current limitations are for a 500 video cards system`s due to power supply .
       I am thinking about an ICO to build a warehouse in another city near a nuke plant, but i am new to ICO`s and i still researching the option.

@All :) , if you are a good writer and you know how to write an ICO project welcome to join .

@All also i am open for founding .

Location , eastern Europe , in EU , price per kw 0.11 $ VAT inc.;)

The little paragraph and the low amount of info is a huge red flag for me at this point. It's a nice concept but for an ICO you have to be more professional and provide potential investors with sufficient information and documentation regarding your ICO.

Interesting idea, but my concern is why does this require an ICO? What does this offer other than providing you with funds to purchase these rigs?

Ideally what would be of concern to me is how the token plans to appreciate in value, or why this requires a blockchain service to be hosted on. Could these funds not be raised through private investment, how do we determine costs associated with electricity, rent and component failure etc.

If anyone has an idea on the logistics of this please share some thoughts

 good topic sir..thank you for it..now i know about mining farm

my friends and i are thinking of doing the same thing, wind and solar power integration, it would be kool if we all kept this going to a point of completion some how

id like to see a system like minergate & eobot but with alot more coins and faucets connected, the possiblities are endless, a great little system was a company called minerfarm their set up was kool

id like to see a system like minergate & eobot but with alot more coins and faucets connected, the possiblities are endless, a great little system was a company called minerfarm their set up was kool
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Yeah, I agree, that sounds like a much better system. Ideally a voter system dictating on what the system should mine would also be an interesting system.

Seems like a good idea in the making, unfortunately I don't feel like Russia would have the infrastructure for a system like this though (hardware costs/warehousing/electricity etc). Hopefully China catches up in the scene soon and we see some big players!

I am also have this idea to do in my location, Cambodia. Have anyone still interesting in this plan?

BOL ŞANS

What you will do when everything is POS?

Why only 50%? How much money do you plan to raise? How much of the hardware will you buy yourself?

I can help with ICO for your project. Write PM... Need more information about your project.

Do you want to start an ICO with a newbie rank in here?
Wow, people here its incredible

I think very nice plan, can add income and add insight. hope your plan succeed smoothly.

Why would anyone get in on something that is so easy to fail? How much control are you giving those that invest, can they form and board so that you are not in control and make the right choices when it comes to the business. How are you going to provide that their choices are guaranteed?

Now that I know about agricultural mining, I also have an idea to do it at my location Brunei, a good topic sir .. thanks for that