Frequently asked questions:When is this service available?
You can already buy shares, but the first ASIC Miner will be estimated to arrive at mid of august.
We will continually order devices the more shares are bought, your shares will start working as soon as we got the devices. See the order in the investment table.
Which mining devices are we using?
How much Mining power has one of this devices?
Burnins is procuding two devices, a 10chip device with 2,8GH/s and a 20chip device with 5,5GH/s.
We will propably only buy the 5,5GH/s devices because it is more cost efficient.
How much Mining devices are involved in this project?
Currently we pre ordered two sets of chips for 2 devices which have a total of 11GH/s , this means as soon as the chips are available to our assambling service and they got lateron delivered to us we can start mining!
But the more people are investing - the more mining devices will be bought.
Will it be possible to sell my Shares?
Yes you are allowed to trade your shares.
How are the mining earnings splitted?
At the end of a payout period, the power costs and a handling fee of 1,5% will be subtracted from the mining earnings. The earning will then be splitted proportionally to all investors.
After the initial Investment of an Investor is mined the handling fee for further mining earnings will be 5%.
If a Share which has already reached the initial investment is traded, the 5% handling fee will still apply.
What is the payout frequency?
We will make payouts once every week, at each payout we will post a notification in the thread and will summarize alle mining earnings, the power costs and the handlings fees.
What happens if a Miner gets damaged during the project time?
As this is a Community Mining Project, everyone will have to take the same risks, so if a mining device is damaged the whole mining power of the farm will be splitted propotionally to all investors until the Mining device is fixed or we got a replacement.
What happens if the project isnt providable any more, an increasing amount of Miners gets damaged or we are in any other way forced to stop the project?
In this case we will sell all Miners and split the profit propotionally between all investors, or the investors can have there Mining device send home to them depending if the amount of shares they are holding is equal to a full Mining device. (this option would require to pay additional shipping and packaging costs which have to be paid by the investor)
The option that a Shareholder can send his Miner to him will only apply 6 Months after the initial investment is payed out.
Why should we trust you?
As mentioned before a trusted member of the forum will be provided with my identity data and in cases of scam or fraud everyone of you will be provided with my data.
Also it would make no sense for me to scam you because this would mean only a limited profit, in the long run if we trust each other both parties can take much more advantage and make more profit.
How are you going to provide the promised transparency?
Our Mining devices will be bought in two steps, first of all we need the chips then the chips will be send to the assambly service and afterwards we receive the mining devices and start mining.
As the chip buy is a public forum thread everyone can see how much chips we are buying, we will see how the assambly service will work but maybe this could also be done in a way that everyone sees where the money is going.
See here our ordered ASIC Mining chips:https://bitcointalk.org/index.php?topic=187663.0Batch 1: 21pieces - ID89
Batch 3: 19pieces - ID17
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