BMF is the first mining fund in the community and we are the oldest mining fund. We still have major shareholders on the books from the GLBSE era.

We had a website, but there's almost no point to it. When we incorporate (I'm guessing around june) I'll set one up again. The only thing on the website will be a list of past prices I guess. The business model is very simple and there's not much to report.

You'll see that a lot when you encounter a real business vs. a scam, there's always this complex business model that is difficult to describe or to pin down, and the CEOs are not accessible or are prone to doublespeak. With BMF it is very simple, we own mining hardware, we reinvest into to mining, and pay a reasonable dividend. Right now our hardware is around 30 mhash/share, which is not much, but I'm investing a lot of my own money in this which should bring it up a bit.

I am happy to report our mining income stream has been increased to 28.96 mHash /share, an increase of 86.8% over the past month.

Management guidance suggests 40% growth in May 2014. We are aiming at federal incorporation in June, with the addition of a legal team by the end of the year.

If you wish to invest or redeem shares of BMF in the interim please contact me, we are in the process of applying for listing on two top exchanges now.

Anyone interested in investor info, please PM me.

Hi!

Do you want to learn Japanese?

I guarantee you will pass the JLPT N5 after just 100 hours of instruction (standard is 150+) with me, or your money back.

It's really that simple!

I will give you as much time as you need, up to 1 hour a day one on one.

You will learn enough to pass the JLPT N5 in the upper half of your class or better. This means a 500+ word vocabulary, 50+ sentence patterns, and the ability to use Japanese in daily life i.e. shopping, directions, introductions, common tasks.

The cost is 0.07 BTC/hr or 0.05 BTC/hr if you pay for the 100 hours as a package.

All custom materials or your choice of textbook as desired. The price includes the cost of all teaching materials which will be provided for free/upon demand.

For the first time in history, you can learn Japanese via massive comprehensible input from day 1.

There is no other textbook like this in the entire world.

It contains thousands of example sentences and over 100 additional pages of reading material at the pre-N5 level. It includes hundreds of pages of worksheets, JLPT-style quizzes, and more -- from writing kana to "similar kanji" questions likely to appear on the N5 Japanese exam.

Constructing a textbook like this is an extremely difficult and time consuming task.

You essentially learn Japanese by reading and listening to Japanese. And it's as easy as pie. The Japanese slides down like buttered chicken.

The book is in post-production and is going to be printed within 2-3 months (waiting on our mangaka).

If you place a pre-order now, I will send you a copy of the book in it's current state and I will send you the final version when it goes to print.

This method will save you hundreds of hours passing the N5 and N4 tests. It is money well spent.

Cost: 0.15 BTC (includes free shipping anywhere in the world).

Not sure why people ask this question, shipping is a fixed cost or free, and the delivery time is announced But I ship from Japan.

NOTICE: The gold has now been spoken for (yes, all of it). User b*, deposit address 1C*

The silver is still up for grabs.

I just want to sell them so I'm offering a discount. Actually, those who remember my previous sales will note this is the first time I've asked for a coin premium I usually just offer at spot.

Courtesy of TU.SILVER!

For sale, the following items, in bitcoin, maxcoin, litecoin, or other as arranged:

SILVER:
5 x 1oz Canadian Maple (2014) [SPOT + $2/coin]
20x 1oz Lakota Crazy Horse (2013) [SPOT +$1/coin]
40x 1/2oz Lakota Sitting Bull (2013) [SPOT +$1/coin]


GOLD:
4 x 1/4oz Canadian Maple (2014) [SPOT +$20/coin]
10x 1/10oz Canadian Maple (2014) [SPOT +$10/coin]
16x 1/20oz Canadian Maple (2014) [SPOT + $10/coin]
All coins are individually sealed in plastic cases.

FREE 7 day international shipping + tracking number on orders over 1 BTC.

Otherwise shipping is about $20.

Feel free to ask for references.

Typically in a case like this when you are sent a letter, they already have you. I'll refrain from speculating further, I wouldn't want to spoil anything.

I just don't know why MPOE-PR wasn't perma-banned two years ago when she started issuing malicious criminal libel.

April 6th interim update.


I am happy to report our mining income stream has been increased to 19.6 mHash/share, an increase of 26.5% in the last two weeks.

Update April 25th:

We will cross the end of April with a confirmed hashrate of 26 mHash/share, an increase of 67.8% on the month.

Quick announcement;

If you're not yet a CEX.IO customer, please sign up using our referral link (in my signature). All referral income will be contributed to BMF which will in turn increase your value as a shareholder.

If you are already a CEX.IO customer, please consider creating a new account using our referral link. This way, you will increase your profits mining and trading at CEX.IO.

If we had everyone signed up and mining via CEX.IO, it would go a long way towards getting BMF back in the game. Thanks to everyone,

March 2014 update.


I am happy to report our mining income stream has been increased to 15.5 mHash/share, an increase of more than 100%.


Our silver stock has been depleted due to redemptions from TU.SILVER holders. If you're a TU.SILVER holder, contact me immediately. I will no longer honor physical silver redemption orders after April as we continue to convert back into mining hardware.


This was a ballpark estimate. There are two material changes which will affect this number. One, we are tearing down the existing structure, not adding to it. This will cause a short term loss as we need more money (approx. $7500) to tear it down and clear the property. Construction costs will also go up by about 20%. On the plus side, we're free to completely redesign the interior now, which will make the final product worth a bit more (how much more? more than we're spending tearing it down). If I had to take a stab at what this is worth per share now, I will state a conservative 0.00275.


Not sure what to do with this yet, I guess I should apply to cryptostocks. Havelock would be nice but I have decided to avoid incorporation for now, we're no longer profitable enough (from a gross profit standpoint) to warrant the cost.

I reiterate previous guidance of obtaining forward momentum for BMF in 2014. Right now the plan is to convert everything we do into hardware. The real estate holdings are nice but at some point that needs to either be paid out or converted into income paying hardware.

Questions or comments welcome. This is a self-moderated thread.

I'm thankful the funds are finally being used for forum development.

However, the funds amount to about $3 million, which is an extremely large amount of money. Being incredibly generous I cannot see the project costing more than 20% of that.

What is the rest of the money going to be used for?

Yeah I read those -- they're mostly BS. I don't need to waste time explaining why the shutdown threads are bs, do I? Or how any service can "see your passwords"?



No, you don't need to know what the money will be used for -- this isn't a security, your "investment" (loan) is not dependant on the purpose of business. You have no "interest" in the business I am performing, per se -- I am offering highly liquid collateral. I don't mind telling you what the money will be used for, but second to the above you are framing yourself as a lender. Are you planning to loan to me? Namworld did. When he wanted to redeem I mailed him his 44oz. of silver. Just like everyone else. Here's something else you may have missed:

"Thanks Usagi for paying this loan back. You had some trouble with this one when a few btcstock exchanges closed down back in oct-nov, but you sorted things out and even paid off the last part of the loan early, thanks." - https://btcjam.com/listings/5938

Don't get trolled ognasty! Check my otc rating.

Anyways, the money will be used for buying stuff online, steam games, ipads, and so forth. I also want to buy a new dog and dog cage, dog food and dog care equipment. I also might buy some more gold and silver, I might buy some music books for my piano.  Not that it changes anything, because the collateral backing the loan has nothing to do with what I want to use it for. But there it is.

This belongs in the long term lending forum, from which it was moved.

First, these "bonds" are not tradeable; they can't even be securitized by a third party because I can recall them at will. Second, If there was no collateral and people were buying shares of the profits of the investments, for example, then it would be a security.

Please move it back -- if this is not done I will have to re-post the offer in lending.



I haven't gotten around to listing on havelock yet. I'll send them an e-mail later today I guess.

#2. mcxNOW isn't a scam -- maybe realsolid scammed someone before, I have no idea, I certainly haven't seen any proof. As for mcxNOW, I have made a lot of money trading there. If you think it's a scam you should post your evidence to me in PM or on the scam accusation forum.



You are stating your belief as a categorical fact.


Correction -- "I believe this will be a bad investment because..."


Accepted ;-)


I'm a foreigner so I can't get a mortgage. That being said I don't need a mortgage. I'll be using the actual money for investing in crypto and merely using the collateral as "pure collateral". If I had a mortgage on a property, for example, I couldn't use that property as collateral. Again, this is not a security, it's a loan.

The 5% is for the whole 20 years though, not on an annualized basis. You can redeem these after 1 year.

You're right, this investment is extremely low-risk -- suitable to dump $1M+ into without thinking. This is a real investment for serious money, not a $1200 rig or dipping your toe in with a couple of BTC riding on just-dice profits.

You can do that with bitcoin too, but you risk losing 50% just as much as you risk a gain. I know lots of ppl who were selling in the 900's, then the 800s, then under 800, because they knew. Just saying. And that was, like, 1 or 2 months ago.

Hello, I am here today to offer Eternal Bitcoin Bonds, for sale today!

All bonds are essentially loans, of course, which require collateral. My collateral is both personally owned and highly liquid, in the form of blue-chip stocks. In short, you have NOTHING to worry about.

You may lay claim to your collateral in the form of agreement to my personal information and arbitration via http://judge.me (free) or we can even sign a document drafted by Real Lawyers (tm) -- which you would pay for of course.

Each Eternal Bitcoin Bond costs 1 BTC, and pays 0.05 btc back to you every anniversary of your purchase -- forever.

Fractional investment is acceptable, so long as you understand you will be paying any transaction fees...

You may redeem the bonds for 1 BTC at any time by forfeiting what would have been the interest accrued until that point.

I reserve the right to repurchase said bonds at any time for 105% of purchase price, which would sever the obligation to pay interest on the bonds.

Hai guys. I want to make you a special offer which is totally serious.

For a while I have been scheeming on how to leverage my landlocked assets into crypto and I have finally come up with something.

Here is how it works. I will take ANY loan for ANY amount of bitcoins you care to offer me.

1. Collateral
Collateral will be in the form of real estate or direct ownership of investments in real estate leveraged 1 to 10 on a 3rd party evaluation, meaning if I have a $500,000 property I will use it to back $50,000 of loan debt. "Direct ownership" means that there's no bs going on like I take out a mortgage and then double-obligate the property to backing a loan -- the collateral will all be wholly owned and paid for by myself. I do not mind signing a legal obligation to turn over assets to you should I fail to live up to the terms of this loan. Please have your lawyer draft a document. I will post any such agreement here for all to see.

2. Repayment
The trouble is that no one wants to make a long-term fiat denominated loan in bitcoins because of the exchange rate. But no one wants to take a loan denominated in bitcoins because of the exchange rate. So to make things simple, you will be repaid in bitcoins unless the value of bitcoins should increase by greater than 100% of the price the loan was made at. At that point, any further increase in price will be ignored. I think that's reasonable and I am open to other ideas. Other than that, you will receive a guaranteed perpetual rate of 6% interest per year paid as 0.5% per month. Any ADDITIONAL payment over and above that is a) completely optional and at my discretion, b)  will be a payment towards the principal amount owed (and would therefore lower future interest payments).

It's really simple, if you have a lot of bitcoins and you want to invest into real estate, this is your call to arms. Remember, I have no problem signing an agreement for the collateral (we could agree to http://judge.me arbitration for example or use "real lawyers").

p.s. if you haven't figured out the "long and short" of this deal, i'll make it simple: you are paying for part of my house and I am paying you RENT in return, or to be more specific, lease-to-own.

Basically what happened to thestringpuller is he invested in a fund and forgot that when the underlying assets lose value, the fund will lose value as well. Blaming me is a "nice try" but unfortunately, all the assets were already auctioned off in two very public auction threads.

Yes, I donated 100 BTC of my own money to try and relist on BTC-TC but guess what, they shut down and so did BitFunder and we basically lost all our money. Yes I promised to repay NYAN holders -- I would so dearly love to do so, except there is no business running with which to pay them back. It would be a different story if we could relist on Havelock or something, and I hope we will be able to soon, but the real world moves really slowly and I still haven't incorporated yet. I need to incorporate before I can list on Havelock. So there is a plan and a process but it is going to take a while. The real estate deal I was talking about before BTC-TC shut down won't even begin construction until later this year so there is no rush. That is just how things are.

If you want to get involved and help us, please tell us where Hashking or AmazingRando live so we can get our 600 BTC back from each of them. Ian Bakewell owes us ~50 BTC, so does BitcoinOz. Do you know them? Maybe you can tell them to pay us back? I would love to give that money back to shareholders, but the truth is without help I will never find them.

P.S. I read this board less than once per week now. If you want to contact me, you should send me a PM or an e-mail.

They're probably sniffing for a deal because the price of BTC is dropping. I never have this much trouble selling stuff :/