TURTLE MINING
IPO
Slow and steady wins the race!
FAQ
What is TURTLE MINING?
It is an offering of shares to give investors the opportunity to pool resources to participate in Bitcoin mining without purchasing their own hardware and without a large upfront cost.
2. Initial Offering
Shares will be issued at the price of 0.021013 Bitcoin per share. Purchase as few or as many as you like.
3. What will the proceeds be used for?
All bitcoin raised by the purchase of shares will be used to purchase AsicMiner the Sapphire Batch Block Erupter USB Bitcoin miners.
https://bitcointalk.org/index.php?topic=195004.0The miners will be purchased in the ASICMiner Block Erupter USB group buy (US/Canada) being run by arklan with John K. as escrow at
https://bitcointalk.org/index.php?topic=195052.04. What are the rewards of share ownership?
TURTLE MINING will use the miners to mine Bitcoin.
60% of all Bitcoin earned will be distributed to shareholders weekly on Friday mornings 12AM EST + or - 48 hours.
40% of all Bitcoin earned will be used to purchase more mining hardware to increase the mining hashrate of TURTLE MINING. This 40% MAY be temporarily invested into securities listed on
https://btct.co/ or
https://bitfunder.com/ with any dividends earned accumulating towards more mining hardware purchases.
5. What are the fees?
5% of bitcoin earned before dividend distribution and mining hardware investment will go to SilentSonicBoom for managing TURTLE MINING. Any alt coins mined(if any) will be used to pay for operational expenses such as electricity, power strips, usb hubs, etc.
6. Will the shares be tradeable in the future at
https://btct.co/ or
https://bitfunder.com/ ?
It is the goal of TURTLE MINING to be listed on one or both of these exchanges in the next 12 months or sooner.
6. Can I sell or trade my shares?
Shares may be sent or received twice a month free of charge. Any more than this will incur a charge of 0.1 Bitcoin. What you can sell them for to another person is up to you. Both parties to the transfer must notify SilentSonicBoom by PM to transfer shares.
7. What if I want to cash out my shares?
Shares will be bought back if you face financial hardship and must sell. The going rate will be 0.01 Bitcoin per share. This will be paid from the 40% of bitcoin earmarked for mining hardware purchases. Any shares repurchased this way will be issued but not be outstanding. In the rare circumstance that more requests than bitcoin available to repurchase shares happens, a queue will be formed with First In First Out as Bitcoin become available from mining. Contact SilentSonicBoom if you face financial hardship and must sell your shares.
8. Any Risks?
Bitcoin becomes worthless.
Not receiving initial mining hardware from group buy operator.
SilentSonicBoom gets run over by bus
(dead man’s switch (college aged son to takeover TURTLE MINING)
9. Contact Information
SilentSonicBoom
https://bitcointalk.org/index.php?action=profile;u=9580510. How To Buy Shares?
Either post how many shares you wish to purchase in this thread or PM SilentSonicBoom with how many you wish to purchase. Shares need to be purchased in the next 36 hours or so. This is so I can order the appropriate hardware for amount of shares purchased. I will post in the thread your payment address or PM it to you if you wish to have some privacy. Payment must be sent within 36 hours of receiving payment address. Looking forward to working with everyone to make TURTLE MINING great!!!!
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