A bitcoin for a $25 indiegogo

[nexus99]

Doing the rough math... 6500/25 = 260 needed BTC.

A Monarch starting today would take about 69 days to mine out the needed bitcoin for rewards. Double the difficulty (just guessing what it might be at shipping time) and the time approximately doubles. So maybe 4 months to get everyone all paid up from the time things start for them? Even if it took 6 months turning 25 bucks into 115 or higher isn't bad.

[vnvizow]

It's a trap!

[Endgame]

Claiming to be able to build a 'prototype' ASIC for $6,500 indicates that this is probably an outright scam - buyer beware.

[Viceroy]

They are intending to buy an imaginary BFL monarch and mine with it.

Centernix Inc posted an announcement 3 hours ago
We have launched!

Some details for the technical folks:

We plan to use 28nm technology that will produce anywhere from 480 to 720 GH/S per processing device. Every $6500 in funding will allow us to add an additional processing device. Each node will consist of 3 ASIC mining devices.

The quick math:

At today's difficulty 1 GH/S will produce about .1 BTC/day. This puts us being able to provide the 1 BTC reward for each contributor in about 43 days from the start of operations. Since it will take time to get the environment up and running difficulty will be higher when operations commence. At double the difficulty the time frame jumps to only 86 days. And at triple the difficulty the time frame is 129 days. This time frame will scale to however large the environment grows. So no matter how many processing nodes come up the reward will come at approximately the same time.

And the great thing is that the reward is in BTC. If BTC jumps from $115 to $250 over the next several months our contributors still get the full Bitcoin!

http://www.indiegogo.com/projects/help-build-the-bitcoin-network?c=activity


run away, screaming

[nexus99]

Claiming to be able to build a 'prototype' ASIC for $6,500 indicates that this is probably an outright scam - buyer beware.

Doesn't look like a 'we are making a chip' thing. Looks like a 'we are building miners and need start up money' thing.

[Bitcoinorama]

D'ya have any idea what rhymes with gogo?





No no.

[Zeek_W]

$65 for international post on a casasius coin? haha

[Viceroy]

Th OP reported my posts as off topic.  Almost like he wants to hide the fact that his entire business model is based on a non existent piece of vaporware AKA the BFL Monarch.

How is this off topic,mr administrator?  (BFL is the largest advertiser on this site,maybe that has something to do with this attempted coverup).

[nexus99]

Th OP reported my posts as off topic.  Almost like he wants to hide the fact that his entire business model is based on a non existent piece of vaporware AKA the BFL Monarch.

How is this off topic,mr administrator?  (BFL is the largest advertiser on this site,maybe that has something to do with this attempted coverup).

What are you talking about? Again, you are off topic in the most trollish of ways.