It has come to our attention that our company has become the subject of some discussion on this board.
Please review the frequently asked questions below for the answers you seek.
Feel free to call the company directly with any additional questions.
Thank you
BitVest Mint CEO D.L. Hahn
Who are we?BitVest Inc. d/b/a Bitvest Digital Mining, a Delaware Corporation. Founded in Feb. 2014 (as Bitvest LLC) by early entrant Bitcoin Miners, who not only understood the great potential of Bitcoin as a technology, but also as an outstanding business opportunity. BitVest has deployed thousands of mining computers on two continents, which mine bitcoins 24 hours day, 7 days a week and have generated over 16,000 coins to date. We are offering you the opportunity to buy bitcoins direct from our mine at substantial discounts in order to finance the acquisition of additional mining computers.
How does it work?The proceeds from our forward sales will go primarily to the acquisition of additional mining computers. As the Company produces bitcoins at our established mining operations, a percentage of the Bitcoin production is allocated to fulfilling the Bitcoin forward sales purchase agreements. This is a win-win scenario, whereby you benefit by purchasing Bitcoin at a locked-in discounted price in return for agreeing to a predetermined future delivery schedule.
How do we benefit?We use the proceeds from the Bitcoin forward sales to buy additional mining equipment, thereby expanding our current mining capacity, which increases the number of bitcoins mined each day. This is a strategy employed for years by the Asian Bitcoin mining industry, in lieu of debt financing or dilutive equity sales. It has proven to be beneficial to both the mine and its customers.
What is buying Bitcoin forward?Simply put, buying Bitcoin forward consists of an agreement between yourself and BitVest Digital Mining
www.bitvestmint.com to purchase a portion of our Bitcoin production at a discounted price, to be delivered at a predetermined schedule in the near future. In this case Bitcoin transfers begin after 180 days from the date of your purchase. Forwards offer downside protection from short-term price manipulation and increased profitability for those who have an eye towards the future of Bitcoin.
What is a forward contract?Forward Contract: A cash transaction common in many industries, including commodity merchandising, in which a commercial buyer and seller agree upon delivery of a specified quality and quantity of goods at a specified future date. Terms may be more “personalized” than is the case with standardized futures contracts (i.e., delivery time and amount are as determined between seller and buyer). A price may be agreed upon in advance or there may be agreement that the price will be determined at the time of delivery.
www.cftc.gov/ConsumerProtection/EducationCenter/CFTCGlossary/glossary_f What is the discount rate?The current discount rate is 20% below the spot price as established on the US-based exchange operated by Coinbase at the time of purchase.
How can we afford to offer you bitcoins at such a large discount?A simple mathematical formula is used by all Bitcoin miners to extrapolate the cost of producing each newly minted Bitcoin. Based upon the network hash rate, cost of mining equipment, and the electricity used in the "mining" process, we know how much it costs to produce each bitcoin. As such, we only sell a fraction of our projected overall Bitcoin production, which is then sent to a cold storage wallet held off the Blockchain until customer payments are due. A percentage of the remaining bitcoins are sold, in order to cover our capital costs for hosting and the electricity to run our mining equipment.
EligibilityYou should purchase Bitcoin forwards if:• You believe that the long-term trend for the price is bullish and your chosen strategy is to “buy and hold" bitcoins for the long term.
• You see Bitcoin as Gold 2.0 and want to add it as a hedge against inflation or as a safe haven to protect against government's excessive printing of fiat currency and price manipulation.
• You want to add Bitcoin as a new asset class to your investment portfolio.
• You have a deep understanding of the technology and how world events could have a positive impact on the Bitcoin price.
• You are content with a predetermined schedule for future delivery of your bitcoin(s).
• You want to take advantage of the deep discount to maximize profit potential and protect against price volatility.
Who should buy Bitcoin forwards?As long as you are interested in holding any bitcoins you intend to purchase for at least six months, then buying Bitcoins at a 20% discount makes sense. However the long-term “buy and hold” speculator is best suited to be a buyer of Bitcoin deferred delivery forward contracts.
Who should not buy Bitcoin forwards?Day traders, people who are uncertain as to whether or not Bitcoin the currency, as a unit of transfer, will continue to be a viable store of wealth. Those that are primarily interested in short term gains or selling their coins within a six-month period. People who don't understand the inherent risks involved with buying crypto currencies in general. People who cannot afford to lose the money they intend to use to buy their bitcoins.
When will my bitcoins be delivered?Your first 1/18th of your purchase will be delivered after 180 days has elapsed and another 1/18th will be delivered each and every month until you have received your entire purchase. Note: disbursements are sent the first and third Thursday of each month to the Bitcoin wallet address provided by the customer.
How can I pay for my bitcoin(s)?We accept major credit cards, PayPal, E-checks, bank wires, and cashier's checks. Simply press the "Buy Bitcoins Now" button to make your purchase.
How can I contact Bitvest?By Mail - Bitvest Inc - 1860 N. Pine Island Rd. Plantation Fl 33322
By Phone - Toll free 1-844-248-8378 (1-844-Bit-Vest) - Outside of the US. 1-561-693-2103
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