Bitcoin Forum

Golden Fleece means altcoin mining datacenter at the eastern coastline of the Black Sea – Georgia.

The myth of Argonauts comes true on the land of Colchis!

We do not collect gold in rivers using the fleece of golden ram as Greek- Georgian myth of Argonauts states, but we do mining of real altcoins on the ground.

Golden Fleece datacenters will use cheap green electricity (5-6 $ cent/kwh).

Project has $50 ml capital target. Mining capacity is set to be around 2.6 TH/s for Ethereum.
Invest in mining with absolute advantage!

Golden Fleece datacenters will work on green energy, 50 percent of the consumed electricity will be produced by the Golden Fleece itself from solar and wind power plants, other half will be supplied by Hydro Power Plants.

Become part of the legend!

ICO details http://goldenfleece.co/index.php/ico-details/

Rather than giving ROI numbers it would be better to share different scenarios. Ethereum can be problematic with the incoming supply of drivers. I beleive you should inform us more about renewable energy and legal status. I do not believe that it can be profitable with this preferences.

http://goldenfleece.co/

To be honest your idea is not impressive and your website is also looking crappy with free hosting and a WordPress theme. Please upload some video proof of team members as I feel these are some randomly picks people to put on that website.

Thank you for you comment. We take into consideration your feedback and hereby we assure this is not randomly pick of people but this is the team who feels confident can to utilize available relatively cheap green energy at local market and contribute efficiently to alctoin global mining effort.

Thank you for feedback and raised question, but could you please specify what additional information you feel need to learn more from us on renewable energy?

..an to be honest our web-site is not using free hosting. We care more about project idea, plans, implementation and its success rather then web-site theme or its developer. Once again, thank you for comment.

Greetings! With your request I have just uploaded photos of me and one of team member (Shota Metreveli) in our pilot mining facility.
We are working on video blog also, it will be launched in a week or so.

See photos here:
http://goldenfleece.co/index.php/about-project/

Hello, thanks for the feedback! You can read my post about electricity prices on the website: http://goldenfleece.co/index.php/2017/07/20/electricity-price-in-georgia/

But I will also review wind/solar here.
More than 80% of energy is derived from Hydro Power Plants, the rest is derived in winter by Gas Powered Plants.Wind and solar are new to Georgia but have strong support from the state. There was launched first 20 MW wind power plant last year in Georgia, near city Gori. Because it was pilot project and built by state owned agency, state gave them quite high Power Purchase Agreement for 6.89 USD cents per KW/h. There is 5 MW pilot solar project which is being built in Udabno region with 6.5 USD cent PPA. However our energy partner Georg Van Der Berg (you can find him on our team page) with deep expertise in renewable energy is ready to develop solar power plant with 6 USD cent purchase agreement. We also have local small scale renewable partner company called Helios, they will be doing video review of our mining plans next week on national tv. 


These are useful links about Georgian energy sector:
http://forbes.ge/news/2332/In-7-months%2C-the-wind-power-plant-in-Kartli-generated-3-mln-kWh-more-energy-than-forecasted-
https://investingeorgia.org/en/keysectors/energy

Legislation is liberal for cryptocurrency. Bitfury has built 3 large mining facilities with 100+ mln USD investment. Local Liberty Bank has Bitcoin/Litecoin online exchange.

Feel free to ask any further questions!

ROI of course depends on several different inputs/assumptions. For scenario part you can find our excel (on google sheets) model and try yourself changing input values to find what the result may be:
https://docs.google.com/spreadsheets/d/116FvwAmpSGVHc9PbMTzmmX_YD5qzkCwDzqjIInNI03Y/edit#gid=8342125

We have 1 million token budget for bounty campaign for project supporters, feel free to contact me on facebook: Vakhtang Gogokhia

any bounty dev?

till me read this project a listen awesome..

How can i participate through bounty here? I do not see the registration form

I'm afraid to see you not have secure connection it would be horrible in future if someone got succeed to hack this page and replace the ICO address like what happened with Coindash ans Insurex.

We are working on renovation of website. However our pre-Ico sale is on waves platform, so there is no adress to send Ether, you should buy it from Waves DEX exchange with ethereum, bitcoin, waves, usd and eur. We are negotiating with waves to include our token as verified and it will have green mark not to be mistaken with other scam tokens.

We have budget of 1 million coins for bounties. Mainly for marketing purposes (ico listings, partnership programs).

We also have individual bonuses for refferal investments, contact us in private message for details.

You should include official information about websites, data and white papers, activities, programs, and so on, so you can trust projects more carefully

Thank you for your comment. All information is available on our web-site http://goldenfleece.co, including White Paper http://goldenfleece.co/wp-content/uploads/2017/07/GF_whitepaper_v.1.0.pdf

If you any question please feel free to ask.

How to purchase Golden Fleece token?

Pre-ICO sale will be held only on Waves platform.

Our token link on waves platform:
http://www.wavesgo.com/assets.html?D6hYNYUSxsLtvkUJ4Mxp6s7mT4WACbwJSsVGCQKxkSfH

1. In order to purchase Golden Fleece you should register on waves platform first. You can do this with either by downloading chrome extension or on web client:
https://waveswallet.io/

2. Deposit one of following currencies in your waves wallet: Ethereum, Bitcoin, Waves, USD, EUR.

3. Go to built in Waves Decentralized Exchange. Choose one of above mentioned currencies and GoldenFleece and buy amount that you want according to sell bids that we have posted.
VERY IMPORTANT!!! When choosing GoldenFleece please use token code in order not to be misled by scam currencies with similar name. Our token code is:
D6hYNYUSxsLtvkUJ4Mxp6s7mT4WACbwJSsVGCQKxkSfH

If you have any question please feel free to get in touch with us at info@goldenfleece.co

20 days remained until the ICO!

Do not miss your chance to be early bird and purchase coins during the Pre-ICO stage.

GoldenFleece can be purchased on Waves platform.

Details at:
http://goldenfleece.co/index.php/ico-details/

How do investors make money by investing in this ICO? Can anyone give some suggestions..
I was told there will be a filter to block certain content. Is that correct?

Please see below answer to your question from our web-site in short, full details at http://goldenfleece.co/index.php/ico-details/
If you further questions please feel free to get in touch with us.


There are 100 million Golden Fleece tokens issued in total.

Tokens will be sold in 3 stages:
Pre-ICO sale: July 14 – 30    – 1 million tokens – 0.2 USD per token.
ICO 1st stage: August 15-30    – 30 million tokens – 0.8 USD per token.
ICO 2nd stage: September 15-30    – 40 million tokens – 0.9 USD per token.

8 million token will be distributed and sold out of ICO campaign to up to 10 large partner investors for 0.5 USD per token. There still may be room for you in this investment bracket, so please contact us for further details.
1 million tokens will be used for bounty campaign.
20 million token will be held by the team. This token will be put on hold in escrow account and will be issued in equal parts during 12 months following ICO.

Company will start repurchase of tokens at nominal price of 1$ per token starting from first month in order to maintain token liquidity. 1 million tokens per month will be repurchased before datacenter will be operational (February 2018).

Profit distribution will be based on token repurchase. After datacenter will be operational, company will allocate half of its mining profit to repurchase token with market price (2-5% of tokens monthly). Repurchased tokens will be destroyed. Another half of profit will be used for further increasing datacenter capacity and hence revenue.

Company operations will be totally transparent. all mining wallets will be publicly listed on our website. Our financials will be audited by one of the BIG4 auditing companies on quarterly bases and statements will be published on our website as well!

any bounty

another newbie ICO, another scamcoin. High school project maybe? want some spending money? I doubt how much this kind of ICO can collect...

Greetings! I assure you that me and my team are hard working professionals with dozen years of expertise in each of our professional areas: IT, Finance, Energy, Law, Telecom etc.
We are lagging on marketing side yet :) But working on that really hard, will see results in a week or so. We will renovate website and media presence.
Have you looked through our Linkedin profiles? What makes you feel untrusting? I will be pleased to have your feedback and will work on improving that part.

Thank you for your interest anyways!

We are hiring bounty hunters (lets call hereinafter "GF Promoter") for social media marketing!
With budget of 20 000 coins for now.

Scheme is following: We offer 5 Golden Fleece token to those who will share and like our page on facebook. For that reason wee need GF Promoters to post in crypto related groups our offer. Those who will like & share our page should comment to GF Promoters post his/her wallet address. GF Promoter then sends 5 GF token to that address and replies to comment "sent!".

We pay 5 GF token to facebook Like & Share, 5 GF token to Linkedin page follow & share, 2 GF for twitter retweet.

GF Promoter will get 20% bonus on total payouts he/she made.

We will fill GF Promoters wallet periodically with GF token and with appropriate Waves for transactions fees.

Contact us on facebook page: https://www.facebook.com/GoldenFleeceToken/

Wish you good hunt!

Dudes for real now,

50 mio and a WordPress website? Oo come on you can do better than that....

1. Datacenter will consume around 20 MW power: I think your maths are wrong, you need a serious facility to scale that high.
2. We have already put in production our pilot mining facility with more than 200 000 USD investment (see photos attached): in the photos, the investment is nowhere near 200k. You need about 1000 cards for that number. My guess is about 10k USD are shown in the picture in terms of investment.

But the pinnacle is the name "Golden Fleece" , i get the connection between Georgia and Medea helping the Argonauts take the Golden Fleece but before naming your project you should google the meaning of...

Fleece: obtain a great deal of money from (someone), typically by overcharging or swindling them. Example: "the city's cab drivers are notorious for fixing fares and fleecing tourists"

Then try searching for "Fleecing Investors" and see what you get....


I am looking at a (your?) Facebook profile Vakhtang Gogokhia and you claim to be Head of Finance Department at GSE - Georgian State Electrosystem Tbilisi, Georgia, is that true? Are you employed by the state? I think people that understand how society works in those post-Soviet states can draw the conclusions by them selves.

I will certainly stay out. Best of Luck

I stated in previous posts that we are working on new website, please be patient and respectful of our work. I don't want to shut down current website until new will go-live.

1. Please contact me on facebook and I will share excel calculations from which 20 MW are derived. Meantime, GPU servers consume roughly 10 watts per MH/s, we plan to spend on servers up to 40 mln USD and we have target of 15$ investment per MH/s. So math is following 40 000 000 / 15 * 10  and you will get 26.7 MW power.

2. I will give you exact numbers of that pilot facility, we have currently 96 GPU-s RX 580 in 24 mining rigs, we spent on that 58 000 $, building which this servers are in costs 75 000 $, we also purchased land 7600 m2 for 80 000 $ for our final mining data center. I can post here all necessary documents.

3. Name "Golden Fleece" is connected to the territory on which we plan to build datacenter, and has nothing to do with taxi drivers or ripping people. I cant comment more on this :)

I work in Georgian State Electrosystem as Head of Finance Department, before that I worked Caucasus Online and Delta Systems, and I am proud of every company that I worked in! GSE has been developing national grid and invested more than 500 mln USD in network and plans to invest 800 million more in next 10 years, and I am proud to be part of it.
 
People, why are you so anxious?
Please ask legit questions and I together with my team will be more than happy to provide you with all details!
If I didn't make any harm to you or anyone that you know, why do you make black PR to our project?

Anyways, I am still determined and will try to answer all your request here!
Thank you for understanding.

Dear forum members,

First of all thanks for spending your time to make Comments here, even if some of them are directly based on negative feelings, but  its just ok, this is very important for our team due to the fact that healthy criticism shows our pain points and we will work on it, so thank you for that again.

From my side, I would like to confirm that I had pleasure in the past to work with Vakhtang Gogokhia on my previous position (Head of SAP ERP, HCM and CO modules) at Caucasus Online LTD (biggest internet provider in Caucasus region).
And now I still have the pleasure by helping him around this project.

Currently, I work full time as SAP Support Engineer and business process manager at Heidelbergcement group which is one of the biggest Cement, Ready Mix and Aggregate dealer around the world. We saw huge growth during last several years as construction works are increasing and new foreign investments are made in the country.

As I see Vakhtang has already answered your questions/posts, but feel free to approach me also, I will try to provide you with more information.

Thanks for your replies and activity!

Cheers,
Lasha Ramishvili

Only 19 day left till the ICO. Do not miss your chance!

http://goldenfleece.co/index.php/ico-details/

Our listing on CoinGecko. Happy buying!

https://www.coingecko.com/ico/golden-fleece

Golden Fleece (GFL) listing on IcoTracker https://icotracker.net/upcoming

                                     Golden Fleece Token added - ICOTRACKER.NET   https://icotracker.net/project/golden_fleece
                                                               https://twitter.com/Kaznachej123/status/891385662015975424

                           https://s8.hostingkartinok.com/uploads/images/2017/07/05b4072574ac4e884557e8fb82efcbcd.jpg (https://twitter.com/Kaznachej123/status/891385662015975424)

Thank you for posting!  ;)

Seems not to bounty .. :-\

We have budget for marketing, please see my post above.
Contact us on Facebook page if you are interested.
https://www.facebook.com/GoldenFleeceToken/

how much supply coin for the bounties? ok, I will be looking the information and contact us on Facebook Page.

Anyone investing with this type of ICO- will LEARN A VERY GOOD LESSON TO HOW TO LOSE MONEY ASAP

CONS:
1. It is not quite a right time to do this type of ICO
2. Etherium Mining is not profitable
3. There is no 20 Megawatt of electricity power in Georgia at cost of 5-6 Cents
4. Specify: Is it 0.05 or 0.06 cents per kw
5. 0.05 Cents in REP of Georgia is Only at free economic zone  which is Located only at www.TBZ.Ge 
6. There is no hydropowerplant in Georgian Black SEA.
7. There is impossibility to exist 20 Megawatt of electricity in Todays Georgian Economic Situation.
8. To generate 20megawatt of HydroPower you have to invest around 2.5 MILLION USD, especially in the SEA.
9. Nobody has yet made this much investment in hydropower Electricity in GEORGIA
10. This type of investment is never done in Georgian without GEORGIAN GOVERMENT being in CHARGE
11. You do not have any hardware bought at this moment.
12. What type of hardware you want to buy with the gifted money that people would invest?
13. Website in World Press
14. Team = non existant , foreign names

Pros:
1. Georgia basically legalised Crypto currency and One of the major Georgian bank is trading it.
2. Bitfury is really located in Georgia and has expanded since 2013
3. Georgia really has free economic zone with no taxes and electricity cost with 0.05cent (The problem is they cannot provide electricity, you have to go out find your own source, that is physically impossible)
4. Ministry of Justice of Georgia uses blockchain technologies to register land ownership in Georgia.

My Conclusion: We need photos, more information. Nobody know Georgia better than me, and I wouldnt suggest anyone investing in This ICO. For the Sake of ICO's being not just popular and money making machine, but a reliable source of raising capital, that would support real, legit ideas.

What can you build on etherium ? what can you build on Waves? A mining FARM ?
A fake ICO ??? fool people raise money and run away... That would fu.ck up the reputation of ICO's in General, Forever, until SEC regulates it sometime in Future, before that, Big NO NO!
 

I see the attempt though, guys really spend time some time on it... Just not Enough. Its just not convincing. ICO's are not just seeing lots of money in the sea and chasing like Sharks, No guys!


In the end I will tell you one thing...

"Build it first and they will come, rather then fund it first and build it later" Andreas M. Antonopoulos about ICO's (Initial Coin Offerings)

Learn, Dont trade.

I feel like asking:
1. Do you guys even know how much is 20 Megawatt of Energy ?
Bitfury Georgia mining farm generating up to 45megawatt and holding around 3.5% of hashing power of the total hashing pool. Their vote in the recent BTC fork was up to 3%
2. What coin do you guys want to mine and what hardware do you want to purchase with that 50 million USD?

I wouldnt invest in Just etherium mining, maybe diversifying would help you a lot, such as Scrypt, X11, SHA-256, Dagger-Hashimoto (UBIQ,Zcash) Pascal, Sia

Contact Bitmain, Contact InnoSillicon. If you somehow raise 50 million they will provide you with D3's, S9's, L3+'s, but in December, January time)))

What Graphic cards are you going to be buying? Source ? Radeon, Nvidia ?
By the time you build the plant Radeon/Nvidia would produce new GPU's that would be sold out.

20 Mega watt = 10000 S9 Miners
5000 L3+ Miners, and 10000 GPUS

I wish someone could really have 20 megawatt of hydropower in any country at a cost of 0.05cents.

If you reach 500K Goal, count me in for help)) After you reach 1 million, after I know all your hardware sources, your energy source (Real, official documentation), then maybe Id invest, and explain to others why should they

Georgia is very attractive for mining, no wonder why Bitfury started there... But there is physical impossibility to Generate this much power from the hydropower from black sea. there are no windmills at black sea, which belongs to anyone but government (if there is any)

And finally: guys build something first, raise angel investors money, raise some venture capital, reach 1million goal, in the end its a mining farm not a new technology, start mining yourselves, reach some hashpower, eg: 1peta hash (1000THs) of SHA-256, 10000-20 000THS of Dagger Hashimito power, 50 000 Scrypt power, at least 200-300 Ghz X11 power and Come again and I assure you people would invest.
No matter you build on etherium blockchain or waves or A brand new blockchain people will invest, AS LONG AS YOU BUILD SOMETHING FIRST AND PEOPLE WILL FUND YOU TO EXPAND LATER!!!

ANYONE AGREES?

Hello Magicune500

First of all thank you for your interest and time spent to review our project.

Let me elaborate on points you have made:

CONS:
1. It is not quite a right time to do this type of ICO        -Thats subjective point, can you state arguments for it?  
2. Etherium Mining is not profitable                              -What do you mean by not profitable, what is your Required Rate of Return? Payback of less than a year is very profitable and achievable with GPU mining, with current ethereum prices.
3. There is no 20 Megawatt of electricity power in Georgia at cost of 5-6 Cents           - I can argue with this, pleas read our post regarding electricity prices, you can find sources with latest historical electricity prices.
4. Specify: Is it 0.05 or 0.06 cents per kw                         -It is 0.050.06 USD - or in other words 5-6 dollar cents per kw/h
5. 0.05 Cents in REP of Georgia is Only at free economic zone  which is Located only at www.TBZ.Ge                    -I can also argue with that, I work in Electricity company and have market knowledge,  the only difference for FIZ is that you dont pay VAT on electricity purchased, so thats 18% over price, but you know this VAT is not an expense at the end but differed tax asset which you can claim.
6. There is no hydropowerplant in Georgian Black SEA.        - No one claimed Hydro Power Plant in Black Sea, we were reffering to Hydropower Plants that are in western part of Georgia, NEAR Black Sea cost.
7. There is impossibility to exist 20 Megawatt of electricity in Todays Georgian Economic Situation.         -I don't get this point, what do you mean? One single Enguri HPP has 1300 MW power, and there are dozen hpps with more than 20 MW power production.
8. To generate 20megawatt of HydroPower you have to invest around 2.5 MILLION USD, especially in the SEA.       -Same point, we didn't mention HPP IN the SEA, I have never heared of Hydropower Plant in the sea.
9. Nobody has yet made this much investment in hydropower Electricity in GEORGIA                           -There are several HPP cunstructed and in construction process which have several million dollar investment, I will name a few: Nenskra (1 billion USD), Shuakhevi HPP (400 mln USD), Namakhvani HPP (700 mln USD) and many other smaller ones, you can google them. BUT we are not building HPP, we newer claimed it, we will just use their power.
10. This type of investment is never done in Georgian without GEORGIAN GOVERMENT being in CHARGE        -I can also argue with that, I am directly and indirectly involved in many large projects done in Georgia. Georgian government supports foreign direct investment, they adore investors and help them as much as government can help.
11. You do not have any hardware bought at this moment.         - We have currently 96 gpu-s in 24 mining rig-s shown in photos, we have made another order already, we have bought land for construction of final datacenter, and we own building in which current pilot mining datacenter is located.
12. What type of hardware you want to buy with the gifted money that people would invest?        -This is not charity, please be respective to what we do.
13. Website in World Press                           - I have stated many times that we are working on new website, sorry for delays.
14. Team = non existant , foreign names          - All three foreigners Georg Van den Berg, Moses Ilunga, Leon Lim are in my facebook friends you can find them and contact directly, I will post here links to their profiles in the same order:

https://www.facebook.com/georginizmir
https://www.facebook.com/moses.ilunga
https://www.facebook.com/leonlimjh

Pros:
1. Georgia basically legalised Crypto currency and One of the major Georgian bank is trading it.        -Oh finally Pros :) thank you, thats true point.
2. Bitfury is really located in Georgia and has expanded since 2013          -True
3. Georgia really has free economic zone with no taxes and electricity cost with 0.05cent (The problem is they cannot provide electricity, you have to go out find your own source, that is physically impossible)       --There is NO link between FIZ and electricity! Being in FIZ doesnt grant you any better conditions in finding cheap electricity. The only difference is in taxation scheme.
4. Ministry of Justice of Georgia uses blockchain technologies to register land ownership in Georgia.        -Also true

Sorry if my comments were emotional.
And thank you once more for spending your precious time to write this post.

Today I had interview on national TV with very good feedback.
I have inquery from  http://techpark.ge/ Georgian Inovations Agency will meet them tomorrow.
On Friday I have meeting with Liberty Bank (Emoney), will try to negotiate putting our coin on their website for exchanging.

1. You have 96 GPUS ? What Are they ? 
2. What are you going to Be mining Exactly ? Altcoins, Specify ? What about Bitcoin, Bitcoin Cash ?
3. How many more GPU's have you ordered ? Can you show us the invoice and the payment made and expected date of the order arrival ?
4. Who is your main supplier ? Do you have any further connections with them ?
5. 96 GPU/7= around 13 mining rigs. My friend has 12 Mining rigs at his garage, why should I give money to you and not to him ?
6. Why do you need 50 Million USD ? Can you Specify allocation of the funds ?
7. Are you going to buy mining just with GPUS?
8. What is you profit after electricity costs and maintenance currently at your 96GPU & hashrate?
9. Can you provide us with the info to look at your hashrate on blockchain ?
10. Why do you think you can raise 50 Million so easily ?
EOS did it because it has technology behind, great team, motivation and a specific goal, and it hasnt succeeded yet, same goes with Tezos...

11. Why do you need to mine Etherium, to Issue your Own token ? Why just issue your token based on etheirum blockchain ?
12. Are you just selling your Coin, technology behind it ? or what are you exactly selling ?
13. Will token holders be holding shares in the company that you will register, will they own assets as well eg: GPU's, or even land ? As an Investor what would I own if I invest in your company.



I would love to fund projects like this only if something is already build and I (or crowdfund) can help to expand but I will give you some examples what Bitfury can offer and I quote:
We do have our 7.5PH, 1.1MW Blockbox AC available.
Price starts at USD800K, based on a 50/50 profit share which takes effect after you recover your initial 800K investment. The Box will be hosted at our facility in Canada for a USD50K monthly fee to cover electricity and other expenses. Minimum investment is USD5M.

I hope I am allowed to disclose my special offer from bitfury, which might not be offered to someone else.
So why you ? and Not Bitfury who has been on market since 2013, who has already built something and is asking money for expansion...

I got offer on table to pay 800K and Owe 7.5Peta Hash SHA-256 Power, and with only 1.1 megawatt energy usage. 7.5 Peta hash is 7500 Tera Hash.
Why do you need 50 Mil, how many peta hash do you think you can achieve or how many THS of Dagger-hashimoto for example ?

Sorry for late response. I had interview on national TV yesterday and we were blown away by messages and meeting inquiries locally.
Today we had meeting with Techno Park (Georgian Innovations Agency), we talked for two hours, they expressed interest and support for our project. They will provide legal/financial/business consultancy by Deloitte, they will provide us with 24/7 modern office infrastructure and will help to promote project both locally and internationally.




1. You have 96 GPUS ? What Are they ?         - we have MSI RX580
2. What are you going to Be mining Exactly ? Altcoins, Specify ? What about Bitcoin, Bitcoin Cash ?      - we plan to have following portfolio (may change slightly): 50% ethereum, 20% bitcoin, 10% dash, 10% monero, 10% zcash.
3. How many more GPU's have you ordered ? Can you show us the invoice and the payment made and expected date of the order arrival ?       - we have ordered RX580 sapphires and P106-100. sorry but I cant provide information about our suppliers, it will also bring their stocks down, which is not in our interest.
4. Who is your main supplier ? Do you have any further connections with them ?     - we have three main suppliers, which we consider for bulk purchases, one is in Dubai, one is in Singapore and one local representative for peripherals.  
5. 96 GPU/7= around 13 mining rigs. My friend has 12 Mining rigs at his garage, why should I give money to you and not to him ?       - This is PILOT mining datacenter, this is not collateral for your investment, nor it is to show our financial input.
6. Why do you need 50 Million USD ? Can you Specify allocation of the funds ?    - Datacenters will be built in several stages, it is not one stop shop. First stage should be finished by February if all goes well. Fund allocation after project is full funded will look like this:

Grid connection        1,238,542      2%
Servers                   40,000,000      80%   (including networking infrastructure)
Building                     1,333,333      3%
Ventilation/Cooling        266,667      1%
Other costs             1,000,000      2%
Working Capital           2,000,000      2%
The rest amount will be spent on coin repurchase.          
The aim is to spend as small amount as possible for anything other then GPU/ASICs, thus bringing down $ cost / MHs.


7. Are you going to buy mining just with GPUS?       -No, ASICS also, but with smaller share ~20%
8. What is you profit after electricity costs and maintenance currently at your 96GPU & hashrate?      - We pay around 700$ for electricity per month, hashrate is ~2,800 MH/s, Profit is 5-6 k $.
9. Can you provide us with the info to look at your hashrate on blockchain ?         -Sure:     http://dwarfpool.com/eth/address?wallet=3f5ad69e3609c5e8f0922a44f5e7baa0ed9dec78
10. Why do you think you can raise 50 Million so easily ?             -Nobody says it will be easy, though we are determined. We don't plan actually raising all of that amount through crowdfunding, we are negotiating with several investment funds and private investors, we already booked 25% and will book another 10-15% of total cap for private investors. We will announce names once deal is signed, I hope it will be before ICO.
EOS did it because it has technology behind, great team, motivation and a specific goal, and it hasnt succeeded yet, same goes with Tezos...           -Their business model is software based, our business model is hardware based. For hardware projects 50 million is not a big deal at all.

11. Why do you need to mine Etherium, to Issue your Own token ? Why just issue your token based on etheirum blockchain ?       -We are considering double blockchain option, working on it. We don't want to delute total number of coins, trying to figure out technical ways.
12. Are you just selling your Coin, technology behind it ? or what are you exactly selling ?            -We are building mining datacenters, for funding this project we issued our token, which we are selling.
13. Will token holders be holding shares in the company that you will register, will they own assets as well eg: GPU's, or even land ? As an Investor what would I own if I invest in your company.        -Tokens represent shares in the company, however there is no legal binding and no legal obligations, just our intent and promise to repurchase tokens with generated revenue. However we are willing to offer legal shares in the company for large investors, though their equivalent tokens should be put on escrow.



I would love to fund projects like this only if something is already build and I (or crowdfund) can help to expand but I will give you some examples what Bitfury can offer and I quote:
We do have our 7.5PH, 1.1MW Blockbox AC available.
Price starts at USD800K, based on a 50/50 profit share which takes effect after you recover your initial 800K investment. The Box will be hosted at our facility in Canada for a USD50K monthly fee to cover electricity and other expenses. Minimum investment is USD5M.

I hope I am allowed to disclose my special offer from bitfury, which might not be offered to someone else.
So why you ? and Not Bitfury who has been on market since 2013, who has already built something and is asking money for expansion...        -They are mining only bitcoin, they have high maintenance costs, high entry barriers.

I got offer on table to pay 800K and Owe 7.5Peta Hash SHA-256 Power, and with only 1.1 megawatt energy usage. 7.5 Peta hash is 7500 Tera Hash.
Why do you need 50 Mil, how many peta hash do you think you can achieve or how many THS of Dagger-hashimoto for example ?          -We will have ~2.5 TH/s Dagger-hashimoto power.

Thank you all for these questions and skepticism. In my eyes, these are not negative questions but rather helpful questions. As I like to say, "a dumb question is a question that isn't asked".

As an investor/trader myself, I would have the same questions as all of you have, and it seems that Vakhtang has answered them in their entirety.

There are many ICOs that come out for the sole purpose of taking your money. I fell victim to one such ICO (coinjob) as I was one of the first 10 people to send my 1 ether to them as soon as they launched and I STILL have not received any Jobis back. I asked the owner, Max, on how I could acquire my 1500 Jobi but he stopped responding. I am sure some of you have fell victim to these scams as well and I do not stand for such people or projects.

Golden Fleece is different in a sense that they are honest and transparent. So far I have seen in this forum that despite the constant bombardment of skepticism and doubt, they have stood firm and honest will all inquiries and are even willing to personally talk with you.

In my cryptocurrency trading career, I personally have not seen any member(s) of an ICO/company who are willing to answer any questions asked in their entirety or even waste their time answering small inquiries I have, keeping in mind that I am the type of person to ask questions before committing. When I meet someone who is able to not only take my skepticism, but is ready to answer my questions in such detail, I personally would say they are not here to steal my money.

Golden Fleece seems small and might lack a fancy website like all other ICOs, but the point of an Initial Coin Offering from my understanding is for a company to open up trading (offering of coin) to the public in order to raise money to improve the business. I am sure once funds come in there will be a fancier website and all the other quirks people want to see.

I will end this post by saying this, trading is a risk. You will lose money to scammers (as I have had the unfortunate experience)/ and by not being a skilled trader, or you might make a big profit in a company that is starting up and have lots of potential (FOMO is always the worste). Always trade with money that you are ready to lose, and if that isn't what you are doing then my advise would be not to trade.

I may get some love/hate responses to this post, and that's ok. Feel free to ask questions/message me.

Trade smart and be safe!

Brothers,

GPU's Do not Mine Bitcoin, Dash, Litecoin.

You have to do more research about SHA-256 Algorithm and X11 algorithm that are mined by ASIC chips.

GPU's dont mine Bitcoin since 2011.

Your answers are Newbie answers for begginers.

I am out and I suggest everyone to stay away, JUST FOR THE FUCKING SAKE OF ICO'S STAYING MORE REPUTABLE AND HONEST !!!


CANCEL ICO, DO MORE RESEARCH, BUILD SOMETHING FIRST, COME BACK IN 5 MONTH AND, I WILL HELP YOU OUT

THATS ALL FROM ME

GOOD LUCK

Dear Magicune500,

First of all, thank you for interest in GFL but mind what you say please in public place.

You may consider answers "newbie" but the thing is that your account itself here is "newbie", look at your status. Either your accounts are constantly blocked because of exactly such irrelevant and abusive messages, or you are just really new in this market with significant amount of articles read on ICOs and speaking out comments without analysis.

Anyway, thank you for your suggestions and wishes.

We hope you enjoy your day; relax a bit and analyse details before making choice of investing (if any) in other projects rather then GFL.

Have a great day!

Best,
Golden Fleece

Actually i'm interested in ICO, but times have a little problem with ANN and web, please fix it to be more convincing enthusiasts, i wait for ICO, good luck

We told that we will mine MAINLY with GPU, but also with ASICs.
I wrote about portfolio of coins that we plan to mine: 50% ethereum, 20% bitcoin (with ASICs), 10% dash (asic), 10% monero, 10% zcash.

Can you show us Invoice from Bitmain or Bitfury or where are you Purchasing ASICs from ? Bitmain is SOld out, do you have any special connections with any manufacturer ?
I guess you dont.

You said you gonna mine with GPUs Bitcoin Dash and Litecoin ! That you really need to research ! GPUS= DIfferent algorithms, NOT sha-256, Scrypt or X11

Please come back in 3-4 Month.

Thanks for trying

Once again, thanks for your honesty!

Everyone is entitled to their own opinion! Everyone is free to make their own decision. I believe in hard work and dedication, and in turn results will show.
Some people invest in ETH, others invest in BTC, others invest in LTC. It's certainly an open market and you are not forced to pick one  ;D ;D

With that in mind, I will be buying some GFL!

this mean youre project only cloud mining site
why not direct investment in youre cloud mining, same with genesis-mining and more
not explain spefication coin in here

At least you are more ethical this time with your comments. Why are you so angry on GFL  ;D relax, if you do not like us, it's ok, we still like you  ;D

Once again, thank you for your suggestion, comments and crtisism. We also suggest you, come back to us in 3-4 month and check out how credible we will be for you.
We have an ambition to say that there is no any single token that will have more transparency and credibility then the GFL before and after the ICO. We will be auditted by one of the big4 audit companies (we finilise negotiations in couple of weeks) and post reports on our web-site in every thee month.

Have a great day!

Thank you for following us and for recommendations, we'll fix as soon as possible.

1.These people have no idea how Coin Mining works

2.They want to mine Bitcoin Dash and Litecoin with GPU's

3. They have no orders placed with any Manufacturer yet

4. There is no 20 megawatt power in Georgia at black sea.

5. They have no finance structure.

6. They are total fail !

7. They destroy Reputation of the ICO forever!

8. People will learn best lesson if they invest here

P.S. They dont even know why should someone buy their coin, what they give in return ? A miner ? a hashpower ? assets ? land ? wtf guys

BE SERIOUS..

BUILD SOMETHING AND ASK FOR MONEY LATER.

Dear Magicune500,

Once again, relax  ;D Mind your nerves.

1.These people have no idea how Coin Mining works
You do not know "these" people and you even do not know what we offer! Take your time, read, analyze carefully our White Paper and then post here some logical comments; do not just spam this forum!

2.They want to mine Bitcoin Dash and Litecoin with GPU's
Absolutely wrong information!

3. They have no orders placed with any Manufacturer yet
Absolutely wrong!

4. There is no 20 megawatt power in Georgia at black sea.
WRONG and FUNNY  ;D check whatever details you doubt on electricity production/consumption in Georgia, here http://esco.ge/en

5. They have no finance structure.
This is available and explained to every interested party. You are not here because you want to buy any token, you are here just to shout :)

6. They are total fail !
We fail or not it's our problem or success. We are confident in what we are doing and how! We care about our stakeholders!

7. They destroy Reputation of the ICO forever!
That's too pessimistic and groundless statement (like any other statement of yours); and yes, thank you for recognizing our importance in the crypto market, much appreciated! Problem is that, you just have wrong perception. We will bring new standards into the crypto market and we will demonstrate how transparent the ICO should be to achieve success for the project and stakeholders.

Georgian state agency (name will be revealed in couple of days) is supporting our project and this is another proof of our credibility.

8. People will learn best lesson if they invest here
Absolutely agree! People will learn that they should invest in project that promises and enforces high level of transparency but not in projects that are adord by people like you who makes absolutely groundless comments.


P.S. They dont even know why should someone buy their coin, what they give in return ? A miner ? a hashpower ? assets ? land ? wtf (WHATCH YOUR LANGUAGE) guys
Stakeholders understand why they shall buy GFL tokens!

BE SERIOUS..
We are, take example from us!

BUILD SOMETHING AND ASK FOR MONEY LATER.
We build together with our stakeholder!

Have a great day/night and happy investment.

All the best,
Golden Fleece

Supporting Georgian agency doesnt mean nothing. You can bribe anyone to support and put their name on your website. This dont fool experience people. Georgians dont even yet know what cyrpto coins are. Only local people will support your project because they think you invented something crazy technology. Like Indians invested in oncecoin and 30 million was lost.

Please watch Andreas Antonopoulos Maybe, you will know more about coins, ask questions people will reply.

Even my little brother knows that you cant mine Scrypt, X11, SHA-256 with GPUs.

Answer one question. If i invest 10K in your scheme, what do you offer? You will build a mining farm in February 2018 (and you dont have any orders place yet) ? Then what will you provide ? Dividends monthly ? Daily ? Would I own assets in your company ? eg: 2x mining rigs would be called my name. Do you plan to put token on exchange ?

Understand this please, for the sake of ICO's and future of ICO. Dont be rushing because of SEC regulating it in future or people learning a lesson.
If you come back and do it right after 6-8 months, you wouldnt have to ware about SEC or lesson learned people.
New wave of investors would still come and invest stupidly, but more experienced people whould overpower them anyway.

Dear Magicune500,

We are not doing and we will not do business in country where you can bribe Government agencies; check Georgia's ranking on CPI (Corruption Perception Index!). Indians, Georgians and any other country prove their identity and be respectful to nations! YOU ARE NOT SMARTEST and OTHERS FOOL in this world! Respect others and behave like an adult!

Georgians know about crypto and blockchains more than you can even imagine! Just one good example is country's National State Registry that keeps nations information on ownership of property, business, passports, etc at local market is running on blockchain (by Bitfury).

We respect your little brother and wish him all the best and success in his life; but your statement/accusation about GPUs towards us are absolutely groundless, like any other comments/message from your about us!

We are not offering to invest in our "scheme" so cannot answer to your question. We offer project to our stakeholders but not some kind of unknown "scheme".

We are not rushing anywhere; and we welcome any new regulation on cryptocurrency like SEC's latest regulations as it secures even more transparency in the market. We know what we do and we have ambition to make the ICO with one of the best transparency level ever! and we believe we will be bring with this new standards in ICO process!

Best wishes,
Golden Fleece

No twitter bounty and spreadsheet tracking form?

Honestly, I dont even see any question answered properly.

You mentioned 100% green energy power of 20 megawatt.
Can you specify where did you find 100% green energy in Georgia? while Bitfury and others use normal electricity yet you found Green energy at black sea.

What your tokens will provide to the investors? Will they own assets hardware part of land, or just little hashpower? Like cloud mining ?
Would you provide monthly dividends? Or you just let the market decide the supply/demand part?

P.S. Ministry of Justice uses blockchain technologies in Georgia, I mentioned it in my 1st post, but General public thinks that you just inventing another bitcoin, and they might invest.
Good luck to them

Dear Magicune500,

80% of electricity in Georgia are produced by the hydropower plants. Bitfuty is using electricity produced by the hydropower plants.

There is no electricity produced by the Black Sea.
The land of Colchis (nowadays territory of Samegrelo region of Georgia) is at the eastern coastline of the Black Sea where the largest hydropower plant in Georgia (and one of the largest in the world!) called Enguri HPP is located; installed capacity of the Enguri HPP is 1300 MW! Again in Samegrelo, there are two more large HPPs (name: Vardnilihesi I and II) with installed capacity in total 340 MW. Thus, one single region of Georgia produces solely 1640 MW of electricity! YES, 1640MW!!

During spring/summer times Georgia is net exporter of electricity and major supplier of electricity for such a big market like Turkey.
You can find more info and links here http://goldenfleece.co/index.php/2017/07/20/electricity-price-in-georgia/

In addition, some portion of electricity consumed by the Golden Fleece mega mining datacenter will be produced by small scale solar and wind power plants that we will built next to the our facility in consultations with our British partner http://gjrenewables.com

Furthermore, currently we are in negotiations with Free Industrial Zones (tax free) all over Georgia; initial agreement reached and in the near future we will sign the MOU to secure space for our mining datacenter. As soon MOU finalized it will be available to public through our new web-site (new web-site will be launched soon).
 
Profit distribution details:

Profit distribution will be based on token repurchase. After datacenter will be operational, company will allocate half of its mining profit to repurchase token with market price (2-5% of tokens monthly). Repurchased tokens will be destroyed. Other half of the profit will be used for further increasing datacenter capacity and possibly building the backup datacenter in other country.

Answering your previous comment: yes, GFL will be available on major exchanges after the ICO.

We call on you, respect Georgian people!!! Georgians are mature enough and smarter then you can imagine to define difference between Bitcoin and altcoin.  
DO MORE RESEARCH ON GEORGIA!
 

P.S. wish you good luck and to the ICO maybe you are working on!



Honestly, I dont even see any question answered properly.

You mentioned 100% green energy power of 20 megawatt.
Can you specify where did you find 100% green energy in Georgia? while Bitfury and others use normal electricity yet you found Green energy at black sea.

What your tokens will provide to the investors? Will they own assets hardware part of land, or just little hashpower? Like cloud mining ?
Would you provide monthly dividends? Or you just let the market decide the supply/demand part?

P.S. Ministry of Justice uses blockchain technologies in Georgia, I mentioned it in my 1st post, but General public thinks that you just inventing another bitcoin, and they might invest.
Good luck to them


[/quote]

Dear Magicune500, thank you for spending major of your time on us and discussing/promoting the GFL; 45% of your total posts on Bitcointalk are for GFL; much appreciated.

Hope you guys collect enough through the ICO to get going. The overall response from the public does not seem to be overwhelming (maybe a bit more media representation, postings and pictures would help? - the website is a bit basic). Your business plan makes sense to me with a win win for both, the investor and yourself, and I like the pictures from your current mining activities. We have to have more bigger mining operations outside of China and Georgia seems to be one of the few places that could still compete with China's energy costs. Yes it takes a bit of risk to give other people money, but no risk, no fun. I got recommendation from someone who put in a huge stake with you guys, so if he trusts you I should do as well. Besides that, it is always good advice to hold a stock in the infrastructure of the networks and not only the coins and tokens. So as a little guy I invested a small amount of 3 ETH, make me proud ; )

Thank you for your comment. Public response is harsh but that's understable; we try to explain/answer all questions and we will prove our credibility and reliability. Yes, web-site is basic, absolutely agree, we are developing new one and we are expecting to finalize it over this weekend.
Yes, we will be more active on media side; e.g. tomorrow we have interview with Forbes and article shall go live next week. 

We will post here existing articles about us published recently. All articles will be available on our new web-site.

Our target is to raise $50ml for building the first ever crowdfunded MEGA MINING DATACENTER, but if ICO ends at lower number we of course anyway will start to build the datacenter.

After the ICO, GFL will be available on major exchanges.

Thank you for your trust!

Reserving German translation if needed

Thank you. Not at the moment.

Golden Fleece Project To Expand Massive Altcoin Mining Ecosystem With Token Sale
http://www.the-[Suspicious link removed]/2017/08/08/golden-fleece-project-expand-massive-altcoin-mining-ecosystem-token-sale/

Golden Fleece (GFL) secures 5000 m2 space in Poti Free Industrial Zone with electricity price USD 0.053 per kw/h

https://twitter.com/GoldenFleece_co/status/896079279330439168

GOLDEN FLEECE ICO – ARE YOU INVESTING?

http://coinkhabar.com/golden-fleece-ico/

ICO started! Happy Buying! www.goldenfleece.co

Have you seen the new website? I like it! Seems there is also an ERC20 ethereum contract.

Lots of progress done - I already bought quite a bit of GFL and looking forward to make a legit profit!
To the moon!!

Yes we'll have some nice updates in a few days. The project is making good progress.

Hi, can we send our rig for hosting at your data center?

Hi, yes we have collocation service. We charge 15% of revenue plus electricity cost 0.053 USD per kwh.
Write to us on fb page:

https://www.facebook.com/GoldenFleeceToken/

That is not how hosting service is offered.

Can you show us where are you inviting people to host ? photos?

Firstly, full hosting services are charged by kw used per month per mining rig/rigs or miners? eg: 60-70$ per kw/month

IS there another Golden Fleece thread or is this the only one?

On Waves there are several scam GoldenFleece tokens created but only our has the green mark.

Check out the GFL option deal on Waves Dex! Information here: www.coinslip.com.

Looks very promising and green project. team members are definitely professionals according to their Linkedin profiles, I see you have done the pioneering project as well, which is great... Best of luck

https://www.facebook.com/v.gogokhia/posts/10211533849920508

[/quote]

That is not how hosting service is offered.

Can you show us where are you inviting people to host ? photos?

Firstly, full hosting services are charged by kw used per month per mining rig/rigs or miners? eg: 60-70$ per kw/month
[/quote]

Hi!

Do you need portuguese translation?

Any plan for improvement bounty?

Thanks

Good Luck. Looks like a good project. Keep up the good work

Ethereum will hit the POS soon. What about that? Other Altcoins will be mined then?

I read through this thread, good points raised. Issued clarified. @Magicune500 raised points which was thrashed out. Good. Now lets move on to support this project.

Is this a mega Joke ?

Trashed out? huh ?

They didnt answer a single question normally !

They have spent around 10K on 10-15 GPUs and think they can build a Data center?

Even if 1 question out of 20 questions was answered properly, check it out read again, come back, tell me that did happen and I give you 1 ether

Now again, invest in this project, come back in 6 month, tell me they didnt fail and again I give you one ether.

Only people commenting about the project being good, is their own people, noone else.

They have not even heard of Ethereum Switching to Proof oF stake, meaning not minable anymore ! Yet they keep repeating altcoins altcoins!

What alcoins you they gonna mine they cant even specify ? They rented few GPU, 2-3 antminers and making a show now!

THey have no connection with Bitmain, or other manufacturers, and they have no Idea what GPU's to get and why...

Just correction to your post: My points made them think, why the fuck is this guys trashing our SHITCOIN out!

You guys have no clue what mining is about... just a newbies

Hello, @Magicune500 You are really passionate about your findings. This is serious. I can hear your screams in your voice. I have written like this before. I know what this message sounds like. Anyway I PM you my findings first. Thanks you are not saying the are scams, you are only saying the are not experience enough, if I get the message clear? I will pm you.

Please refer to my previous posts, I fully explain there about the problems. There is a lot.

Even If we give to these guys 10 mil tomorrow, they dont even have a source to buy Hardware. Bitmain is Sold out. Did they state the source of buying GPUs and which ones?

Etherium is switching to PoS meaning no more mining just STAKING !

To me investing in Cloud mining seems a better idea that this. Whole point of investing in Actual/Real mining is that  cloud mining pays you only about 40% of revenue, this is exactly the same number what these guys promise to pay their shareholders who hold large amount of tokens.

There is no 20 megawatt of electricity power from Hydroplants at the location they state. If there is, how much are they paying to get transformers that generate this much electricity?
They want to compete with Bitfury which is using up to 25-30 megawatt and is worlds leading Mining company. Experienced in every way and aspect of mining, they do produce mining chips and sell block containers with 7.5 Petahash @ cost of 800K USD.

They have built a 2-3 mining rigs with 20 GPU's thinking now that they can make one of the largest mining farm with T-shirts saying mega data center.

Who is going to benefit from this ICO and raised capital ? Founders
This project is going to make millionaires only the founders. Period !

I would wish to see who their supplier is going to be with GPU's and ASICs? They need to find supplier first and then do the rest. If they raise 10 mil for example, its going to be sitting in their account for months because all mining equipment inc GPUS and ASIC is sold out. When they cant buy nothing for long time, it gets boring, then money gets distributed within the team.

If bitfury was going to do ICO, id invest, because they have already build a lot, and asking money to expand. This guys asking money now, saying to build something in 6 months time, and start paying dividents only 40% of revenue ? invest in cloud mining or get your mining rig.

Or else invest million first build something, get experienced, show more photos and videos, show revenues, hashrate in blockchain and ask money later to expand, i would invest

Just curious, you guys saying you have a large mining farm at the moment, generating a good revenue.

Can you please post public eth address and which pool are you using to see your Hashrate and revenue ?
If you going public, doing mining farm backed ICO, than this is first thing you should share and its not a secret.

Something like this:
https://eth.nanopool.org/account/0x937160602a3abf51fb5e9f58417727d18537c67d
http://ethpool.org/miners/778ba346be061905a4e5baf658d28cc8bf2db717/blocks

This shows their hashrate and approximate Revenues! Its public. And Its Large, maybe even Mega Mining farm. There is lot like this out there.

How did you come up with the name? ;D

Of course No answer.
Even public Eth key is secret, because these guys have done no mining in past. just collected 15 GPU's and put them separately with HP server PSU's to make them look like large mining farm.

Nice trick but shame investors cannot even see what have you ever mined in past, as you stated you are very experienced.

Nice try

You are not seriouse user and scaming this forum!
Your negative and absolutly unlegitimate messages are prove that GFL is progressing well. We are doing everything to make project succesful that benefits GFL holders and owners of the project!

Lastly, we do not have large mining farm at the moment! We have the showroom of the mining datacenter where investros can go and see what we are developing; and discuss our plans for mega mining! You also can come to Tbilisi and visit this showroom!

As for the mega mining: we have agreement with the Tbilisi Free Industrial Zone (tax free) and start development of the first module of our mega mining datacenter in few weeks afrer ICO finishes on 30 September!

Have a nice day.

So no public address to show what have you mined in life or mining at the moment?

You mentioned your hardware is worth 200K USD and your farm generates around 8000 USD per month.

Was this a big lie ?

Can you show us address where you mining farm even earned 5 ETH ? And I give a big positive

Hi goldenfleece I wish you luck with your project, I think it is a very good idea.
But I have a small question here, in your website I see this info:

Golden Fleece Token ICO
Ethereum contract address: 0x5892bbbcb29d3b1051cd44c99db54d61b495d035
ICO will end in!
11 day
01 hour
34 minute
29 second
quantity in GFL - ETH
20,000,000 GFL
12,155,864 GFL
Current price 1 ETH = 373 GFL


Does it mean you already raised  12,155,864 GFL/373=32590 ETH ?
But in etherscan I don't see 32k ETH (~8,000,000 USD)

https://etherscan.io/address/0x5892bbbcb29d3b1051cd44c99db54d61b495d035

In the Ann Thread the devs said, that they got a lot of offline participants.

But im not sure about it since the devs dont even answere the questions here on the forum...

I can confirm that someone invested larger sum "offline".
I can also hint that thanks to that they are getting new equipment which is not on the market yet (Direct deal with manufacturer).

I can confirm that thats bullshit)))

Thank you for following us with your "bullshits"; apologies to the forum participants for wording.

One of the smartest person who saw elements of SCAM this ICO.
RESPECT for your research brother.

1. These guys have no proof that they have even mined a single coin, dont even have public ETH address and pool to provide, yet the claim their revenue is 8K month at a moment with 200K investment in hardware. That claim was made before ICO.
2. This guys show wrong figures, as if they sold their tokens of 12mil, yet they sold nothing.
3. If these guys really had any contact with manufacturers of ASICs, they should have provided yet as they provided some agreement with some warehouse in some city.
they called it a "golden partnership"
4. is there no golden partnership with asic providers or Gpu manufactuers yet?

We are a group of individuals who reveal SCAM ICOs. My expertise is in Mining, so I reveal scam mining icos, and you are not only ones.

Sorry guys. Putting 20 GPU in room, worth 10K to make it look like 50K and whitepaper wont work to raise 20 mil USD

1. If you are scam identify expert, and you are part of some team; this team is big fail by having you in! Because you just do not have a clue what is scam and how scams are acting!

2. Your account record here states you are "Jr. Member"; how come such a big expert like you as you state, have such low activity on forum and why you have newly registered account?

3. Take a look at Waves GFL trading; if GFL was scam; we would sell all tokens even for 1 cent or less and dissapear!
We are putting all our efforts for success of GFL and we are all in to make it sustainable long term project; and your nonsense comments can make no change for us!

4. It is out of any kind of, any sort of logic to say that GFL is scam!!! Think of a little bit and take a breath. Be and act as an adult! Your actions will not bring you anything good.

5. We are publicising every single move we make! If we raise funds to build mining datacenter; how the hell we shall disapear from market? We are in Tbilisi Free Industrial Zone; is not that easy to find the premisses of the datacenter? Is not that easy to find location of scammer, sue or prosecute them?!

We have more important job to do rather then responding to user like you Magicun500, who gives absolutly illegitimate questions, comments and scams the forum.

You seem useless in the team (if any) who works to identify scam coins/tokens, but efficient anti-scam teams are indead what's needed for ICOs to protect cryptousers and support expension of the cryptoworld.

1. You have no data center at Free industrial zone.
2. You have no miners and never had a one.
3. Your account is more freshly registred than mine, 3-4 months old.  (You registred on July 22nd PURELY for Money catching purposes, I registred 1 month earlier, for different reasons, You would have never come to this website if you were not money hungry)
4. You will never have access to 20 megawatt of energy in Georgia
5. You have no GPU supplier
6. You have no Asic supplier
7. You have not mined a single coin in your life, you just thought mining is profitable and raise capital
8. You can never provide an ETH address public.. Where we can see your pilot hashrate, revenue, etc...
NOW MOST IMPORTANT:
9. You mentioned on facebook that you have been on TV where you announced that your current revenue from mining is 8 K USD. Yet you have no miners, that was a big lie, you lied to everyone on facebook, you couldnt even provide address where you mined a single coin.

Now 8 000 USD revenue from mining ethereum is around 10000Mhz hashpower at todays difficulty. Show me address and pool which and where you do mining, in which month you earned revenue of 8K per month, and I swear to god, Im investing all my freshly mined 100 Ether.

Now, dont start telling me you dont need my investment youd rather want me to shut up, revealing you have nothing to do with mining!!

Borrowing 15 GPU's from friends and spreading them around a 15 square meter room to make it look large as if you revenue is around 8k month, should not allow you to raise 20 Million easily..

You wonder now how do I know that much, I just know more than you think I do..
I know all your team is surprised now who is that guy revealing everything about us....

But a baker should bake a bread. A miner should mine...

Magicun500 you are funny and nervouse :)))) you need treatment. When you look to mirror, do you believe that you see yourself? :))) asking because you have doubts in everything :)))
Even though you are not going to invest in GFL, you are still our stakeholder; and thus we feel responsibility to take care of you and with that in mind we will not continue discussion with you because your either lose your job (if you really workig with scam idnetifier team) or end up in psycho clinic for treatment :))))
it is just impossible to respond seriously to your comments; be an adult!

Just relax and continue your work; but do not lose your time with us :)))) we are not scam coin "my friend" :))) time has already proven that.

I love your reasons for naming it Golden Fleece, and glad your focusing on Altcoins, there is a lot of profit and potential in a large range of alt coins I have seen your mining set ups photo's on Twitter and looks like you guys are really committed to effective low cost mining. keen to learn more about your green energy policy.

ANN: Updates on the Golden Fleece ICO (website & WP will be updated by 28 September, 2017):

1. We switch from Waves to Ethereum platform with purpose to improve ICO process and reach larger group of investors.

2.  80 mln GFL on Waves platform will be burnt from 1 October: 10 mln GFL tokens every day will be destroyed.

3. GFL smart contract on ETH with wallet address 0x5892BBbcb29D3b1051Cd44C99dB54d61b495D035 will be canceled and available balance will be automatically refunded to investors on 30 September, 2017.

4. We have introduced new Ethereum contract with 500ml* GFL tokens (token allocation bellow): 0x2189b78041Ec2d5EA65aACBfB3Bf575263DBdEa9.

*Reason for increasing from 100 to 500 mln GFL tokens: increased number interest from ICO online and offline participants and planned expansion in upcoming years in other countries.

500 mln GFL token allocation:

I Round I (in 3 stages*) – 100 mln sold from 15 August – 31 October 2017.

*Because of change in Ethereum contract we announce additional, 3rd stage of first round.

II Round – 50 mln – 15 February – 31 March 2018.

III Round – 100 mln – 15 September – 31 October 2018.

IV Round – 100 mln 15 – February – 31 March 2019.

From remaining 150 mln GFL tokens:

· 100 mln GFL will be reserved by team.

· 45 mln GFL for project promotion on ICO rounds.

· 5 mln GFL for bounty campaign during ICO rounds.

GFL tokens that were purchased with Coeval options on Waves will swapped from 1 October 2017 according to the www.coinslip.com in several stages as sale on new Ethereum contract will progress. For more details contact Monkey Capital at: https://chat.monkey.com

Option-free GFL tokens on Waves platform will be swapped 1:1 to GFLs on Ethereum new contract. To swap transfer your GFLs to*: 3P3fJJB9BqXfCPW2z4VATiZ3vW23gm35ay3

*Please include your Ethereum wallet address in the area marked ATTACHMENT on the Waves Wallet feature.

NOTE: 10 mln GFL tokens on Waves had been reserved for offline investors, with this in mind we will keep 20 mln GFL tokens on waves platform until investment deal is closed and later those tokens will be swapped to Ethereum GFL tokens 1=1.

Will it be useless or not?

Not

So, mining would not effect?

what does this mean for those of us already holding GFL tokens on Waves? 

as said in the ANN:

GFL tokens on Waves platform will be swapped 1:1 to GFLs on Ethereum new contract. To swap transfer your GFLs to*: 3P3fJJB9BqXfCPW2z4VATiZ3vW23gm35ay3

Hi!

Do you need portuguese translation?

Thanks

Hello,

I wanted to swap my GFL tokens on Waves platform to GFLs on Ethereum but I forgot to  write my ethereum wallet address in the attachment part... Is there a way to correct that ?


Thanks for the support,

Bitcointalk bounty will be announced shortly, please observe this space.

Please go to their official telegram channel and contact Jason Georgia.

You will need to provide him with your TX id etc.

Currently they are finished with multiplier swap (1:1 so far, we will see how it goes later), and now they will start with waves GFL to eth GFL 1:1 ratio swap.
Please remember that waves GFL supply is shrinking by 10.000.000 GFL a DAY (burned), so price will be going up on those.

Ok great I'm doing that !
Thx

please note that deadline for missed multiplier coe swap is 10th october!

so if you did not get those (and you were supposed to), please go to their telegram and let them know

Join GFL Community on Telegram https://t.me/GoldenFleeceComm

GFL is available now on YoBit exchange
GFL-BTC pair https://yobit.io/en/trade/GFL/BTC
GFL-ETH pair https://yobit.io/en/trade/GFL/ETH
GFL-WAVES pair https://yobit.io/en/trade/GFL/WAVES

and on Etherdelta as well.

https://m.facebook.com/story.php?story_fbid=506193369760980&id=464798100567174

Kushagra Singh:
We have a new post up on Facebook which involves important decision which we are planning to take around the segwit2x

Sir, why do you not answer anything in the thread bounty campaign more than a month. Are you going to distribution bounty rewards?

Look pretty cool , where do I can read about bounty ?

Does the team have experience in this sphere?

I just recived mine reward!

It seems like your using 10% of your resources to mine Zurcoin. What is your opinion on Zurcoin?

How many threads does this coin need?

TokenZone users rated this project 4 out of 5. How would YOU rate this project? https://tokenzone.io/ico-groups/256-fleece/239-group-reviews (https://tokenzone.io/ico-groups/256-fleece/239-group-reviews)

ANN: Contest for GFL logo creation.

Total budget: 15K GFL.

Condition: GFL team will select three GFL logo proposals and put up for voting in GFL Telegram group (https://t.me/GoldenFleeceComm); the one receiving most votes will become official logo of the project and author will recieve 10K GFL. Proposals on second place in voting will recieve 3K GFL, third place 2K GFL.

Submission: via email to info@goldenfleece.co

Deadline for submission: 8 January, 2018.

Format: Vector file (only).

Criteria: should be unique and thematically related to the GFL.

Follow us:
https://t.me/GoldenFleeceComm
https://www.facebook.com/GoldenFleeceToken/
https://twitter.com/GoldenFleece_co

https://www.worldcoinindex.com/coin/goldenfleece

Can the GLF-Waves still be swaped into the Eth version ?
I totally forgot that i had some GFL into my Waves client.

Sorry but no. GFL is no longer on Waves from October last year.

I have been doing some calculations relating to Golden Fleece's token buy back and burn:

The total supply of GFL is 500,000,000.
There remains in the Smart Contract:
349,989,096 GFL

That means there is currently:
150,010,903 GFL in circulation

(100,000,000 are reserved by the team )

so that leaves:

50,010,903 GFL in the public's hands.

https://pbs.twimg.com/media/DWLdgKfVMAAGSyz.jpg:large

As far as I can tell, no more GFL will ever leave the smart contract as the price to buy them is 50x higher than the market price. So they will remain there forever.

Golden Fleece have said they will use 30% of their mining profits to buy back GFL from the market and burn it.

Their current mining capacity is:
9 GigaHash LTC
1300 MegaHash ETH

A quick calculation shows that they are currently making:

LTC = $6,168.32 / month

ETH = $2808 / month
----------
TOTAL PROFIT  = $8976 month

30% = $2700 / month

The current GFL price is 0.04 USD.

= GFL burnt per month = 67,500 GFL

= GFL 810,000 / year burnt

if they really get 3 HDMU's running and x3 their current profits, then they will burn:
GFL 2,430,000 /  year.

I mentioned this to the team and they suggested that 2,000,000 tokens burnt per year sounds very low. They predict it to be much higher.

So let's see. If they can burn 3 or 4 million per year. Maybe with their new incentives to payout 2% per month to people holding more than 20,000 GFL, maybe that can create some more scarcity for the token too.

Currently they are offering 2 options for GFL staking:

Option 1 - minimum stake is 20,000 GFL - you get paid 2% per month in GFL dividends.
Option 2 - minimum stake is 50,000 GFL - you can get up to 6% per month in GFL dividends.

That is pretty juicy, if say 1000 people all stake 50,000 GFL - then that's 50,000,000 GFL all gone.
There are only 50,010,903 GFL the public circulation remember.
That could pump the price up considerably.

Let's a very conservative look:

There are currently 23 Token holders that have 20,000 and over.
We can guess that they will all stake there 20,000 GFL
There's also about 22 holders that have betwee 50,000 GFL - 100,000 GFL, so we can guess they will stake too.
That's about 2,000,000 GFL staked.

So if the team manage to burn 4 million per year we could possible see the following:

GFL in circulation:
YEAR 1 - 48,010,903 GFL
YEAR 2 - 44,000,000 GFL
YEAR 3 - 40,000,000 GFL

Maybe we will see a 25% rise in value of GFL in 3 years.
Of course this is crypto so as soon as GFL gets on a decent exchange the price can go much higher.
Especially as this token has a 2% dividend each month.

[my figures are probably way off - but just to give a very rough idea]

Very interesting project!!
Legit.

@goldenfleece

When you repurchase tokens, do you do it across all exchanges, OTC or ...?

Yobit was I think your very first exchange & I have not seen any volumes there lately. Thank you for keeping the Investbox alive there though!

JS

GFL is listed on TokenJar, a decentralized exchange, no deposit and no fees, wallet to wallet.
https://tokenjar.io/GFL