[Draft] Project π (Project-Pi): ASIC green mining start-up

[Bitbird]

Hello there!

This has dragged on too long. I think this would be my first and last chance for doing any Bitcoin start-up. So! This is a draft of my project. Please read it carefully and pick out its problems if you like. Then vote or not vote as you wish. More details and FAQ should be added later. But if it couldn't pass [votes as support > votes as not support] within 24h, this draft might be suspended indefinite. Until I have any chance to improve it enough for bring it back or discard it and bring the alternative project. Or we'll never or do not need to know the results because of the happy Mayan and their calendar.  


Draft of Project π a.k.a. Project-Pi

Summary

The initial objectives of the project is to reached 3.14T/hs ASIC based mining operation within one year. The mining operation will be setup in low energy costs places/countries and a part of fund will be reserve for the renewable energy system.


Dividend Policy

50% of the profit will reserved as company development fund.
30% of the profit will be paid out as dividends.
10% of the profit will reserved as cash reserve fund.
5% of the profit will reserved for salaries back up fund.
5% of the profit will reserved for non-profit purposes fund.

(The above proportion could be allocates dynamically on quarterly basis and could be subject to change after IPO finished by the mentions/votes.)


Use of development funds

60% of the funds will be use for purchase, build and maintain mining rigs.
20% of the funds will be use for R&D, build, maintain and funding renewable energy system and related projects which could be directly help to our mining operation.
10% of the funds will be use for personnel and miscellaneous expenses.
10%  of the funds will be reserved and could be use for any purposes which directly help to our project.

(The above proportion could allocates dynamically on monthly basis and could be subject to change after IPO finished by the mentions/votes.)


IPO

Total 140,000 shares, 0.05BTC per share.


Kick-start threshold

At least 350B or 7,000 shares should be sold within 14 days. Or the project could be terminated by the vote of shareholders if not reached this criterion.


Full contract

1. Project π a.k.a. Project-Pi  is a GLBSE-listed company (GLBSE ticker symbol:[reserved]). It contains 140,000 shares in
total. Each share gets 1/140,000 of both the voting power and the dividends from the Project π.

2. The total dividends are equal to the total net gains from it's operation. Dividends will be paid monthly on each first Tuesday, Hong Kong time.

3. Investors privately buying more than 14,000 shares will get 5% extra shares, as well as a position on the board of Project π.

4. Members of the Project π board have the right to access all details and data of Project π.

5. The issuer of Project π could stop selling more Project π shares if the necessary expense requirement is already met with the funds raised.

6. Motions are needed to change the portion of the total dividends from the total net gains.


Please note: This is a draft currently. More details and FAQ should be added later. If not pass [votes as support > votes as not support] within 24h, this draft might be suspended indefinite.

[Bitbird]

FAQ

Q: When will IPO start?

A: 3 days later after officially announced.


Q: Why another mining project?

A: We hope to establish a new paradigm for demonstrate that mining operations can be more environmental friendly. We are knowing that renewable energy can support long-term mining operations without sacrificing our natural environment and without increasing energy costs.

Q: Who is your ASIC providers?

A: Currently, Avalon ASIC is our prime candidate, but other ASIC solutions also been closely watching.


Q: What's the main advantage of your project?

A: Extremely low energy cost. And eco-friendly of course.


Q: Where will your mining machines be placed?

A: Except for low energy cost consideration they will be placed in the most high standards data center which the cost been considered reasonable and affordable. Simply put, if there is no better choice after serious study we will go to Iceland.


Q: Will there be only 140,000 shares for 100% IPO shares?

A: Yes! However future IPO outside GLBSE or list on other exchanges for expand could be possible by vote and without diluted as preconditions.


Q: Will there be any benefits as a first investor?

A: You can gained the right to buy 14,000 shares with 0.045B per share which is 10% discount of standard price. And position on the board of Project π.


Q: Ah, you now have few ASIC rigs?

A: No! But one BitForce Single 'SC' has been ordered and at least one Avalon ASIC pre-order has been obtained.


Q: What's your chance to get more than just few ASIC rigs? If you choose Avalon ASIC?

A: We hope the project can be pool the power of the masses for doing buck order which would be exceed more than 10 units then it can be bypass the "wait and then seize or not" web pre-order procedure.


Q:There may be other gadgets can be look forward to?

A: Some by-product may be produce:

Example I: Open-source wind turbine which can be produce by 3D printer.
Example II: Open-source software for scientific and mathematics computing.
Example III: Open-source low energy consumption/high performance computers.
Example IV: Commercial products or services based on above by-products.


Please note: This is a draft currently. More details and FAQ should be added later. If not pass [votes as support > votes as not support] within 24h, this draft might be suspended indefinite.

[Bitbird]

[reserved]

[Bitbird]

[reserved]

[Bitbird]

Change log:

FAQ added: [Q: What's your chance to get more than just few ASIC rigs? If you choose Avalon ASIC?]
Subject changed to :[[Vote][Draft] Project π (Project-Pi): Avalon ASIC green mining op.]

[Bitbird]

[Vote:close][Draft] Project π (Project-Pi): Avalon ASIC green mining op.

Public vote not pass. Project π suspend for now.

[Bitbird]

Some thought of hindsight :

Maybe the easiest way to buy Avalon ASIC without pre-order website would be just start a group buying (you'll still need at least 10 orders though). If you don't want to set-up an Iceland based mining company like me.

[Bitbird]

Update:

Project π Draft v0.2 has been prepare and likely to be published in the near future. At the same time I would like to seeking a partner as co-founder for the project. For building an independent and long-term development enterprises. The project aim to provide a reliable platform (shares trading included) for investors without having to rely on third-party. Sufficient hedging programs/solutions also must be presented. If you agree with the same philosophy welcome to join the Project π.

The initial stage operation could be set-up in Hong Kong first for tax efficient at this time frame. Therefor if you can move to this location easily or exactly the vicinity locals would be great.

Thanks for reading!


Topic title changed to:
[Draft] Project π (Project-Pi): ASIC green mining start-up

[Bitbird]

Update:

Blog of Project-Pi has been setup:

note: Project-Pi wasn't founded on April 1, but next year maybe!