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I do have to ask before going any further, your forum account has 14 posts now....
Do you have another forum account? Did you not have questions in regards to bitcoin/mining at any point when setting up your farm?
No I did not join this forum until recently. Had no real need. A great place to interact with fellow Bitcoiners. |
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2.1792 BTC mined yesterday.
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There is a serious lack of trust on these boards isn't there. The way of the world I guess.
Would you give out $7500 to a complete stranger with close to zero chance of ever getting it back? if that were the case, no I would not. However, this is a genuine opportunity to get involved in an actual mine. |
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I can offer as much verifiable information as possible. Collateral. If you are in Australia we can meet in person.
Are you in Brisbane or ever there for travel? Yes I am on the Gold Coast so can meet in Brisbane. PM if you want to chat or meet. |
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There is a serious lack of trust on these boards isn't there. The way of the world I guess.
I can offer as much verifiable information as possible. Collateral. If you are in Australia we can meet in person.
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If you're so sure it's a return in 6 months, you can very easily borrow those $7500.
If you're asking strangers on the Internet for such a small sum, something is wrong.
I need to place the orders quickly. If I could borrow the funds quick I would, trust that. |
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For the $7500, you will receive a return of $8500 paid over 6 months (monthly @ $1416.00 per month), as well as 20% of all Bitcoin mined, paid out daily or weekly for the life of the operation.
So regardless of how the business venture goes the person who provides the loan will receive $8500 back over the next six months? Any default, a local lawyer would be happy to help you. "You can't sqeeze blood from a stone". If you default, it would cost more than $7500 to even get you to pay back 1/10th of the debt you owe, and that's if the investor is lucky. No lawyer will touch a bitcoin default and trying to get the money back would be impossible. You have a car as your primary asset, and no liquid assets. In other words, if you default on your obligation, no force in the universe will make you pay it back. This will be a business partnership. Looking for a genuine investor here, knowledgeable in Bitcoin. It's a contract either way, and with a lien on an asset, any lawyer would do it. Would take them an application for repossession in any Magistrates Court, a few hours work for them. |
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Stuart,
As it is currently in operation generating Bitcoin, the contractual guarantees, and share issue; I believe the $8500 return over 6 months, + 20% of BTC mined is very fair and a good opportunity for an investor or someone looking to lend their expertise.
Thanks
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Who is providing your new miners?
Butterfly labs will be providing the new hardware. Oh dear, I've suddenly lost interest. Butterfly labs will be providing the new hardware at this stage due to demand v supply. HOWEVER, I am in talks with Cointerra and others to provide this instead as I share your concerns with hardware. The choice of hardware can be discussed between myself and the investor. |
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at current difficulty
<gribble> The expected generation output, at 3500000.0 Mhps, given difficulty of 148819199.805, is 11.8275922046 BTC per day and 0.492816341858 BTC per hour.
you are increasing to 3.5Th/s of mining hardware for $7500 ?
great deal - but in 2 weeks difficulty will have gone up another 30-40%, so you will need more than 3.5Th/s to make the estimated returns you claim.
currently 4module avalon earns ~ 0.34BTC/day (before power costs) so to earn 2.5BTC/day you would have 6 of them?
Power in AU is expensive compared to many parts of the world - one of the reason so many AU GPU miners quit BTC mining in 2011 when price dropped from $33 to $3
I have been running a Pool in AU since June 2011,
If you would like to talk privately PM me, I may be interested if you can prove some of these claims
Cheers
Graet
Graet, power can be expensive in Australia, however not with the provider we use. There are a few new providers have now entered the market which is very well priced, especially if you put back into the grid. I also receive concessions on the bill. I have 8 machines running now. If you would like to discuss this in more details re: estimated Th/s for the investment, pooling etc, feel free to PM me. |
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Who is providing your new miners?
Can you prove you are currently mining 2.5btc per day with your current mining operation?
Butterfly labs will be providing the new hardware at this stage. We are in talks with Cointerra to provide this instead. The choice of hardware can be discussed between myself and the investor. Absolutely, proof will be in the documents/contract when an investor has been identified and moving forward. It is likely we (investor and myself) will do an IPO on one of the exchanges in December in preparation for Cointerra's tech. |
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For the $7500, you will receive a return of $8500 paid over 6 months (monthly @ $1416.00 per month), as well as 20% of all Bitcoin mined, paid out daily or weekly for the life of the operation.
So regardless of how the business venture goes the person who provides the loan will receive $8500 back over the next six months? Yes, correct. If for any reason the Bitcoin market tanks, or something terrible happens (the sky falls etc); you will receive atleast $8500 over 6 months. I have a car worth $14,000 (current market value), and other assets that could be sold. This can be included in the contract as collateral if you wish. Any default, a local lawyer would be happy to help you. The loan will be contracted, shares issued, ID and contract witnessed by a rep of the Commonwealth (aka Australian/Queensland Government). |
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What's your advantage on mining compare with other mining competitors?
Lower electricity cost? Higher hash rate per watt? Or something else?
One advantage is you will be joining 1 other person in the business. You will keep 20% of all Bitcoin mined. Also thinking of adding a "pool" to allow users to add to the mining efforts and would need help doing so. Many opportunities to explore with the right person. Bitcoin is just taking off in Australia, getting a lot of media attention now. Setting up the pool to AU users would explode. Our hardware (Avalon) does use less energy consumption (620w@120v AC) yes. I have a direct link to the builder of the tech which will enable me/us to add more hardware quick. |
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We are a small Bitcoin Mining operation in Australia looking to expand. I require $7500 to purchase additional hardware and mining output. Currently mining averages back out to 2.5 BTC daily.
Can be a silent partner, or join myself in growing the business and overall output. You do not have to be located in Australia.
For the $7500, you will receive a return of $8500 paid over 6 months (monthly @ $1416.00 per month), as well as 20% of all Bitcoin mined, paid out daily or weekly for the life of the operation.
You will receive 20% of the company by way of share certificate (private company) and being put on the official register as a shareholder with the Securities Commission. Can provide all info for Due Diligence.
Will also accept up to 3 individual investors investing $2500 each.
With current costs (elec, internet etc) it could take me months to get the capital required to increase output at current levels.
Estimates with the additional capital to purchase equipment (once operational - 2 weeks ETA): 9-12 BTC mined per day
Great offer for interested party.
If seriously interested PM me.
UPDATE OCT 1 2013: THIS IS NOW CLOSED. I RECEIVED INVESTMENT. THANSK TO ALL WHO WERE INTERESTED. IF I OPEN IT UP TO EXPANSION AGAIN I WILL LET YOU ALL KNOW. THANKS!
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Unfortunately you can still default on the loan even if we know exactly who you are. Lenders don't want to go through the hassle of suing you. You're going to need to think of proper collateral. Also that link is just a landing page.  What is acceptable collateral? Yes I will provide corp documents to an interested lender which will show ownership. So you won't provide a link? Incorporation documents are public knowledge. Acceptable collateral is anything that can easily be sold for $1500. Sorry, provide a link to what? Ok so to secure a loan, I need to post/ship something to the lender that can be used as collateral? What if I repay and the lender fails to return the collateral?Seems like a catch 22 no matter what, right? But you want the lender to take ALL the risk. You're trusting enough to take their coins but that's it. Do I have that correct? Well, no. They would have my full ID, company reg., references (everything I listed in the request) to make them feel comfortable, and to hold me accountable. It seems like a tough thing to ever achieve... I am looking for a long term lending partner. |
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Provide a link to your business information. Or give us the name, and we can search for it from the landing page. The lender will probably have more than 10 posts, but if you are really concerned about their keeping your collateral, you can use a third party escrow. But collateral is a MUST if you want this loan. Sorry if I sound like a bully, but these are questions that would be asked of you eventually on this thread. I'm just the nerd who is online on Saturday night.  No its good, I appreciate your candidness. How would the escrow go? Any providers? |
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Unfortunately you can still default on the loan even if we know exactly who you are. Lenders don't want to go through the hassle of suing you. You're going to need to think of proper collateral. Also that link is just a landing page. What is acceptable collateral? Yes I will provide corp documents to an interested lender which will show ownership. So you won't provide a link? Incorporation documents are public knowledge. Acceptable collateral is anything that can easily be sold for $1500. Sorry, provide a link to what? Ok so to secure a loan, I need to post/ship something to the lender that can be used as collateral? What if I repay and the lender fails to return the collateral? Seems like a catch 22 no matter what, right? |
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Unfortunately you can still default on the loan even if we know exactly who you are. Lenders don't want to go through the hassle of suing you. You're going to need to think of proper collateral. Also that link is just a landing page. What is acceptable collateral? Yes I will provide corp documents to an interested lender which will show ownership. |
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Adam, you have 7 posts. You'll need to send something to the lender that can easily be sold for $1500 in case you default.
Also you said your business is verified and registered. You should provide a link to the credentials.
Thanks for the reply mate. Well I cant exactly send my hardware because that would stop production. Not sure what else I could send. Absolutely, here is the link to our company from ASIC. To register with ASIC, the progress is very stringent unlike registering a company in the UK or NZ. https://connectonline.asic.gov.au/RegistrySearch/faces/landing/SearchRegisters.jspx?_adf.ctrl-state=1biisopw7a_4The certificate of incorporation and other docs will be provided to the lender. |
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So you can get this loan in 10 days, correct? Why not just wait it out? What is so important it must be ASAP?
After costs, payment of equipment, it would take roughly 15 days to get it. I needed these coolers yesterday so it is quite urgent. Amendment: Can offer 13 Bitcoin return from 10 Bitcoin loan (30% return). That figure should sit well with lenders. |
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