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Author Topic: [CLOSED] Call for investors. Let's build a huge bitcoin mining DC together.  (Read 11917 times)
Sukrim
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June 09, 2011, 11:56:42 AM
 #41

In Europe there are still a lot of 58xx cards on sale...  Cool

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June 09, 2011, 12:51:20 PM
 #42

How much hash does 22K get one? And we would own it foreve?
Vladimir
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June 09, 2011, 01:27:25 PM
 #43

Currently this offer is temporarily "on hold" due to already received funding and brisk sales of regular mining contracts.

Once DC3 is fully on-line and further expansion plans are drawn with better certainty for next few month I will activate this offer again.

Meanwhile, do not hesitate to contact me if you have any questions.

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thesmileyone
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June 11, 2011, 05:16:04 PM
 #44

Here you go...

tomorrow exchange rate of bitcoin goes to 0 and stays there forever. You've just lost 100% of your bitcoin investments while me and my investors will have some computer hardware and a working supercomputer which coluld be sold or may be used to mine namecoins or bitcoin 2.0 or towncoins or googlecoins or visacoins or ciacoins or even fedcoins or carotcoins to be rented out to GCHQ or something else.

Goodbye.

You didn't think it would be that easy...
It's time to look at the number once again...
Thats where the answers will be found...
Not in peoples lofty dreams...

So Im going to assume that if bitcoins fall to 0 overnight, the value of the equipment will probably fall to something like 50%. So your investors are risking:
1000 investment + 100 monthly payment - 500*65% value of investment after BTC becomes worthless = 775GBP

Now what I am going to do is buy coins today for 775GBP.
That would equal about 150 coins.

Now every month I will spend the 100GBP buying coins. With average difficulty level of 1M, I should be able to pick up at least on average 10 coins per month. After a year I have 260 coins this way and risked exactly the same as you.

You might argue, but what if price goes up a lot... Well then difficulty will do the same, so it will be worse for you because I get most of my coins in the beginning... Even giving you the very favorable assumption of average 1M difficulty over the next year, which I think most would agree is kinda unrealistic...

The end of the story is:
Your clients risk: 775GBP to gain 237 Bitcoins.
Buying bitcoins risk: 775GBP to gain 260 Bitcoins.


And that my friend is why its called a risk/reward profile and why you just don't look at the risk or reward in isolation.

Investing in bitcoin mining today is questionable...
Investing in bitcoin mining today keeping only 65% is outright terrible...
If its a bad investment...
There is no way you can play around with numbers to make it good...
Its the beauty of the game...

The reason you are wrong if the following.

The end of the story is:
Your clients risk: 775GBP to gain 237 Bitcoins with no computational experience or hassle of having multiple servers in their homes + a server farm that can do other tasks, if the worst comes to the worst, you could sell the ATI cards and buy hard drives and bandwidth and just use all of the 'rigs's as dedicated website/storage/game servers.

Buying bitcoins risk: 775GBP to gain 260 Bitcoins.


And this is why his service makes so much sense. 23 bitcoins is negligent considering the advantages.
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June 11, 2011, 05:19:41 PM
 #45

Currently this offer is temporarily "on hold" due to already received funding and brisk sales of regular mining contracts.

Once DC3 is fully on-line and further expansion plans are drawn with better certainty for next few month I will activate this offer again.

Meanwhile, do not hesitate to contact me if you have any questions.

Are you at Node4's DC3 ? If so I can vouch for Node4, quality service Smiley
Vladimir
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June 11, 2011, 08:58:43 PM
 #46

No it is not at Node4, whatever node4 is. If node4 is some kind of DC or colo provider than the chances are that my recurrent prices would be 300-500% and initial prices 80% higher if I was there.

DC0 is in my garage, DC1 is another location, DC2 project is on hold with lease signed by site owner but not yet signed by me, DC3 is another site which is about to go online (any day now), lease for DC4 site is being worked on.

I generally have to go for another DC everytime I suck out all the juice (electricity) available in vicinity of the site  Cheesy.

Ordering own electricity substation so far is rather cost prohibitive and what's more important takes rather long time.


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Vladimir
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June 12, 2011, 06:12:43 PM
 #47

I have now exactly one spot for an order valued at 15 000£ on terms described in OP. First come, first served.

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June 13, 2011, 11:04:05 AM
 #48

Looks interesting, i'll keep an eye on this

(I dont always get new reply notifications, pls send a pm when you think it has happened)

Wanna gimme some BTC for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX Smiley

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June 13, 2011, 03:13:50 PM
 #49

I have now exactly one spot for an order valued at 15 000£ on terms described in OP. First come, first served.


How much hash would that get?

Hypothetically if bitcoins crashed forever the purchaser would still own 65% of the equipment. Would they be able to decided what to do with the equipment? Offer it up as servers/sell it/give you 35% of the depreciated value go owe 100% of the equipment/ other.
Vladimir
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June 13, 2011, 05:25:00 PM
 #50

How much hash would that get?

15k£ will get you ownership of 6.5 Ghps worth of 6990 based equipment plus about 5 month of running it. This is after my share is taken. Only recurring (operating) expenses thereafter.

Hypothetically if bitcoins crashed forever the purchaser would still own 65% of the equipment. Would they be able to decided what to do with the equipment? Offer it up as servers/sell it/give you 35% of the depreciated value go owe 100% of the equipment/ other.

In event of 'liquidation' chose one or more of:
- sell it to me (If I make a good enough offer. I will try to offer, on best effort basis, i.e. no guarantees, at least reasonable price for heavy case and some other components which are more difficult to resell/ship)
- flog components on ebay (or elsewhere) yourself, I'd drop-ship at cost. Moreover, I store the packaging and all the stuff coming with components to maximize resale value.
- get me to flog components on ebay (my costs are to be covered)
- collect it in UK (Derbyshire)
- have it shipped to owner, at cost (shipping cases probably will be cost prohibitive, but with the rest of components there should be no problem).

Basically, this is hardware which would be your property, temporarily in my custody. I am prepared to do what's reasonable here.

Hosting it as servers for someone for free or even if compensated, is not reasonable. I do not operate a generic DC. This also means that no remote access will be given to the servers. They will be managed only by me while in my custody.



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June 13, 2011, 10:03:50 PM
 #51

That seems pretty steep for me. 22grand i could get 15Ghash/s+ . I was thinking about getting an investor or two but ill have to pass. It seems like its more for someone who cant set up there own rigs if an investor like that is in it for the long haul im sure they do alright.
filharvey
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June 14, 2011, 01:47:15 AM
 #52

K, this works out in my numbers at about 10 machines running. If people are interested I'm willing to set up a stock on glbse to handle this. I will also throw in my machine which is currently doing only about 1.3gh/s but is earning and hence money incoming.

I think with the current price fluctuations we need to sell 3000 shares at an average of $10. That would leave plenty spare where by which other machines can be built or purchased to provide extra income. I would take a 15% service fee for organising this (before people go 15% wtf, with putting in 1.3 on a possible 7.8 network I'm losing. I only make money back at over a network of 9, and once that is met I will be willing to reduce my %). Dividends would be paid daily after receiving payments from the pools.

Valdimir, question for u is how long could this option be open for. It could take 2 weeks to organise money from the different exchanges?

Don't shoot me down, just an idea. I will be investing myself both in money and in Mh/s. And I will not be owning 51% of the company as per other glbse companies. All hardware will be owned by the people who purchased it, ie my hardware is owned by me, the hardware purchase by Vladimir owned ia the company.

On me being taken off running he company, my hardware earnings will direct back to me and not the company.

Phil
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June 14, 2011, 01:49:33 AM
 #53

filharvey, talk to me privately. This could be done, the contract can be tailored for your needs.

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June 14, 2011, 02:46:51 AM
 #54

K, this works out in my numbers at about 10 machines running. If people are interested I'm willing to set up a stock on glbse to handle this. I will also throw in my machine which is currently doing only about 1.3gh/s but is earning and hence money incoming.

I think with the current price fluctuations we need to sell 3000 shares at an average of $10. That would leave plenty spare where by which other machines can be built or purchased to provide extra income. I would take a 15% service fee for organising this (before people go 15% wtf, with putting in 1.3 on a possible 7.8 network I'm losing. I only make money back at over a network of 9, and once that is met I will be willing to reduce my %). Dividends would be paid daily after receiving payments from the pools.

Valdimir, question for u is how long could this option be open for. It could take 2 weeks to organise money from the different exchanges?

Don't shoot me down, just an idea. I will be investing myself both in money and in Mh/s. And I will not be owning 51% of the company as per other glbse companies. All hardware will be owned by the people who purchased it, ie my hardware is owned by me, the hardware purchase by Vladimir owned ia the company.

On me being taken off running he company, my hardware earnings will direct back to me and not the company.

Phil

if someone were to buy up 51% of the company you would need to be sure to pass ownership of the parts over. Id be willing to invest to what extent i do not know yet.
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June 14, 2011, 03:48:48 AM
 #55

All this effort to solve hash problems through "guess and test?" When 21 million is hit, it'll be nice to see effort going into actually producing real wealth for a change.
filharvey
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June 14, 2011, 10:59:38 AM
 #56

When I say other machines can be purchased or built, what I mean is that they can be purchased from Valdimir. The whole idea here is to have a management company, so that everyone can invest in Valdimir's DC3 or other centers when they come on line.

I do not see any physical hardware (execpt the ms/h I'm putting in) to be housed. When I said hardware owned it is the ownsership of the hardware at Valdimir's DC3.

Also as the price has stabilized a bit, probably only 1500 shares would need to purchased.

Phil
Sukrim
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June 14, 2011, 11:34:22 AM
 #57

Nice idea, however be aware that GLBSE is using Bitcoins _only_ but you pay this contract in GBP (which is far from USD parity btw). It might become impossible for you (and shareholders) to track whether my 1 BTC share should be worth 1 share (because I bought it at a price of 20 USD/BTC) or 2 BTC (bechause I bought it at a price of 40 USD/BTC) or 0.5 BTC (because in the meantime, a BTC is only worth 10 USD). You might burn or overrate initial investors, depending on the Bitcoin rate.

What you could do, would be to NOT hand out any shares, until there are enough buy offers to fill the contract. Then on day X release all shares, which are immediately sold, cash out and everyone's happy, because everyone has paid the same value in USD per share.

Just make sure there is no confusion what this is - it seems to me rather like a fund than a company, meaning even though 85% of the money generated is paid out to 100% of the share holders, it is still you who has ultimate decision power as the manager, I guess.

I guess in case the Vladimir contract goes south, you could just get as much money for this as possible, convert it into BTC and pay it off as final dividend - currently there's no way I know of for a shareholder to really identify himself/herself to you in a secure way, so hardware could be sent via mail or so.

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June 14, 2011, 02:05:40 PM
 #58

Nice idea, however be aware that GLBSE is using Bitcoins _only_ but you pay this contract in GBP (which is far from USD parity btw). It might become impossible for you (and shareholders) to track whether my 1 BTC share should be worth 1 share (because I bought it at a price of 20 USD/BTC) or 2 BTC (bechause I bought it at a price of 40 USD/BTC) or 0.5 BTC (because in the meantime, a BTC is only worth 10 USD). You might burn or overrate initial investors, depending on the Bitcoin rate.

What you could do, would be to NOT hand out any shares, until there are enough buy offers to fill the contract. Then on day X release all shares, which are immediately sold, cash out and everyone's happy, because everyone has paid the same value in USD per share.

Just make sure there is no confusion what this is - it seems to me rather like a fund than a company, meaning even though 85% of the money generated is paid out to 100% of the share holders, it is still you who has ultimate decision power as the manager, I guess.

I guess in case the Vladimir contract goes south, you could just get as much money for this as possible, convert it into BTC and pay it off as final dividend - currently there's no way I know of for a shareholder to really identify himself/herself to you in a secure way, so hardware could be sent via mail or so.

I say release 3000 or 1500 shares assuming BTC/USD is $20. It doesnt matter if the price of exchange goes up. we arent investing in BTC, we get paid in BTC its all fair.
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June 14, 2011, 07:03:04 PM
 #59

Where will you sell shares on GLBSE? Will you?
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June 14, 2011, 07:07:07 PM
 #60

Where will you sell shares on GLBSE? Will you?
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