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ColumbiaBasinMining
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January 18, 2017, 03:22:03 AM
 #1



Columbia Basin Mining, LLC (CBM) is expanding its Bitcoin mining operation by 10MW. Our plan is to launch a crowdfunding campaign to provide capital for the expansion.

The crowdfunding campaign will feature some exciting perks which will allow backers to obtain Bitcoin at $600 or less. To gauge interest in this campaign, we have launched our CBM website www.columbiabasinmining.com.

Please visit our website, where you can find more detailed information and sign-up to receive updates related to the campaign.

Columbia Basin Mining, LLC -- Bitcoin at a savings of 25% to 45% off market price.
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January 18, 2017, 07:21:58 AM
 #2

May I ask if your operation is profitable for your customers? I personally have seen a lot of comments here that says cloudmining operations are not profitable and most of them have become ponzi scams even if it is not the intent by the people who own them. In order to protect myself, and I encourage that others to too, please show us how profitable you really are backed by hard facts and numbers.

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January 18, 2017, 07:28:55 AM
 #3



Columbia Basin Mining, LLC (CBM) is expanding its Bitcoin mining operation by 10MW. Our plan is to launch a crowdfunding campaign to provide capital for the expansion.

The crowdfunding campaign will feature some exciting perks which will allow backers to obtain Bitcoin at $600 or less. To gauge interest in this campaign, we have launched our CBM website www.columbiabasinmining.com.

Please visit our website, where you can find more detailed information and sign-up to receive updates related to the campaign.

what does this have to do with arbitration?
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January 18, 2017, 08:33:53 AM
 #4

I guess the appropriate title should ve been Bitcoin project crowdfunding. Cause there s nothing here related to arbitrage which does not work anyhow.

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January 18, 2017, 08:53:49 AM
 #5

Ah, you're back.

Quote from: website
CBM decided that it would be in its best interest to design and develop its own leading-edge mining equipment with more efficient cooling and put that together with access to low-cost, economical electricity.

A little detail about this wouldn't go amiss.
Credibility and all that, y'know..

What does your attempt at crowd funding have to do with "Bitcoin Arbitrage"? That's a bit of a toxic subject round here atm.

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January 18, 2017, 10:52:35 AM
 #6



Columbia Basin Mining, LLC (CBM) is expanding its Bitcoin mining operation by 10MW. Our plan is to launch a crowdfunding campaign to provide capital for the expansion.

The crowdfunding campaign will feature some exciting perks which will allow backers to obtain Bitcoin at $600 or less. To gauge interest in this campaign, we have launched our CBM website www.columbiabasinmining.com.

Please visit our website, where you can find more detailed information and sign-up to receive updates related to the campaign.

You had a discussion on this topic

https://bitcointalk.org/index.php?topic=1344469.40


from what I read it did not have a good ending. Did you get what you wanted?

Has that other topic.


https://bitcointalk.org/index.php?topic=1430539.msg14468525#msg14468525


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January 18, 2017, 11:01:01 AM
 #7

Ah, you're back.

Quote from: website
CBM decided that it would be in its best interest to design and develop its own leading-edge mining equipment with more efficient cooling and put that together with access to low-cost, economical electricity.

A little detail about this wouldn't go amiss.
Credibility and all that, y'know..

What does your attempt at crowd funding have to do with "Bitcoin Arbitrage"? That's a bit of a toxic subject round here atm.


It's very suspicious. Bitcoin Arbitrage, Cloud Mining, and Crowdfunding are all different terms and they're  not connected in any way. I wonder what OP really meant. Doesn't make sense to me

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ColumbiaBasinMining
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January 18, 2017, 04:02:32 PM
 #8

May I ask if your operation is profitable for your customers? I personally have seen a lot of comments here that says cloudmining operations are not profitable and most of them have become ponzi scams even if it is not the intent by the people who own them. In order to protect myself, and I encourage that others to too, please show us how profitable you really are backed by hard facts and numbers.

Columbia Basin Mining is not a cloud mining operation. In a cloud mining operation, you purchase hashing power and pay the expenses of the operator, which is why the one purchasing hashing power may have a hard time making a profit.  Also with cloud mining, your profitability decreases as the difficulties increase.  In our crowdfunding campaign, you are pre-paying for a set amount of Bitcoin and so you know exactly what you are getting for the price, there are no expenses or difficulties to worry about.


Columbia Basin Mining, LLC -- Bitcoin at a savings of 25% to 45% off market price.
ColumbiaBasinMining
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January 18, 2017, 04:03:25 PM
 #9

what does this have to do with arbitration?

It is not arbitration, it is arbitrage. Arbitrage is the purchase and sale of an asset to profit from a difference in the price. It is a trade that profits by exploiting the price differences of identical or similar financial instruments on different markets or in different forms. In this case, you are pre-paying for Bitcoin at a price that is below the average marked price for Bitcoin and you can sell the Bitcoin at the much higher current exchange rate.

Columbia Basin Mining, LLC -- Bitcoin at a savings of 25% to 45% off market price.
ColumbiaBasinMining
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January 18, 2017, 04:05:11 PM
 #10

I guess the appropriate title should've been Bitcoin project crowdfunding. Cause there s nothing here related to arbitrage which does not work anyhow.

Arbitrage is the purchase and sale of an asset to profit from a difference in the price. It is a trade that profits by exploiting the price differences of identical or similar financial instruments on different markets or in different forms. In this case, you are pre-paying for Bitcoin at a price that is below the average marked price for Bitcoin and you can sell the Bitcoin at the much higher current exchange rate. Arbitrage is a technique used by millions of day traders every day. In day trading, this is normally done simultaneously; however, if the market price is on an upward trend, then you may choose to hold it for bigger profits.

Columbia Basin Mining, LLC -- Bitcoin at a savings of 25% to 45% off market price.
ColumbiaBasinMining
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January 18, 2017, 04:05:59 PM
 #11

Ah, you're back.

Quote from: website
CBM decided that it would be in its best interest to design and develop its own leading-edge mining equipment with more efficient cooling and put that together with access to low-cost, economical electricity.

A little detail about this wouldn't go amiss.
Credibility and all that, y'know..

What does your attempt at crowd funding have to do with "Bitcoin Arbitrage"? That's a bit of a toxic subject round here atm.

CBM has developed its own proprietary mining equipment that allows mining to be more efficient. This allows us to be able to offer pre-paid Bitcoin at below-market pricing. Arbitrage is the purchase and sale of an asset to profit from a difference in the price. So since our backers will pay a below-market price for Bitcoin, they will have the ability to exchange the Bitcoin for the current higher market price or hold for a future exchange. Depending on when one is willing to wait for delivery of their Bitcoin, the greater the arbitrage opportunity will be.

Columbia Basin Mining, LLC -- Bitcoin at a savings of 25% to 45% off market price.
ColumbiaBasinMining
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January 18, 2017, 04:06:42 PM
 #12

from what I read it did not have a good ending. Did you get what you wanted?

While our strategy has changed a little, we are still moving forward. Since that previous thread, we have come much further on our design and added key personnel to our group. Instead of offering ownership, we are offering Bitcoin perks to our backers.

Columbia Basin Mining, LLC -- Bitcoin at a savings of 25% to 45% off market price.
ColumbiaBasinMining
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January 18, 2017, 04:07:29 PM
 #13

It's very suspicious. Bitcoin Arbitrage, Cloud Mining, and Crowdfunding are all different terms and they're  not connected in any way. I wonder what OP really meant. Doesn't make sense to me

This is not Cloud Mining. It is a crowdfunding campaign where backers are rewarded with a set amount of Bitcoin at below market values, which creates an arbitrage opportunity. Arbitrage is the purchase and sale of an asset to profit from a difference in the price. So since the Bitcoin perk is set at a below market value, the backer can cash that Bitcoin in at a higher current market price.

Columbia Basin Mining, LLC -- Bitcoin at a savings of 25% to 45% off market price.
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January 18, 2017, 04:12:14 PM
 #14

It is a crowdfunding campaign where backers are rewarded with a set amount of Bitcoin at below market values, which creates an arbitrage opportunity.
Crowdfunding ? So have you planned to use escrow in middle, if not i don't think anyone gonna believe in your claims also can you post real images of your current mining farm?

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January 18, 2017, 11:40:01 PM
 #15

It is a crowdfunding campaign where backers are rewarded with a set amount of Bitcoin at below market values, which creates an arbitrage opportunity.
Crowdfunding ? So have you planned to use escrow in middle, if not i don't think anyone gonna believes in your claims also can you post real images of your current mining farm?

The crowdfunding campaign will be done through Indiegogo, as a fixed amount.  Therefore funds will not be released to Columbia Basin Mining, LLC unless and until the project is completely funded. If we don't reach the funding goal, then the money will be returned to the backers by Indiegogo.

We do not show pictures of our miners due to the proprietary nature of our equipment.  We do have an image of the inside of our manufacturing building that will be fully operational upon successful of the campaign.  (Yes there is farming equipment inside during the winter).




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January 19, 2017, 01:43:55 AM
 #16

It's very suspicious. Bitcoin Arbitrage, Cloud Mining, and Crowdfunding are all different terms and they're  not connected in any way. I wonder what OP really meant. Doesn't make sense to me

This is not Cloud Mining. It is a crowdfunding campaign where backers are rewarded with a set amount of Bitcoin at below market values, which creates an arbitrage opportunity. Arbitrage is the purchase and sale of an asset to profit from a difference in the price. So since the Bitcoin perk is set at a below market value, the backer can cash that Bitcoin in at a higher current market price.

So, you are selling $10 bills for $6?


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January 19, 2017, 03:15:26 AM
 #17

So you want to expand a mining project, may I know if you are sound enough to do that. Where is your location based, cause it's not that easy to mine coins and you are offering as low as 600$ that's like 200 - 300$ less per current price. Will you be able to hold a escrow for this service, it's difficult to believe you will be able to deliver at so low price. You will have to back up a lot of proof for people to be keen to invest in you.

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January 19, 2017, 03:50:22 AM
 #18



So you want to expand a mining project, may I know if you are sound enough to do that. Where is your location based, cause it's not that easy to mine coins and you are offering as low as 600$ that's like 200 - 300$ less per current price. Will you be able to hold a escrow for this service, it's difficult to believe you will be able to deliver at so low price. You will have to back up a lot of proof for people to be keen to invest in you.

Our base of operation is in the Columbia basin located in Central Washington State, where power expenses are very low.  As a perk to our backers, we are offering the bitcoin near the operational cost of our mining.  Please visit our website for complete pricing, as you can get Bitcoin as low as $440.

As for escrow, the crowdfunding campaign will be done through Indiegogo, as a fixed amount. Therefore funds will not be released to us unless and until the project is completely funded. If we don't reach the funding goal, then the money will be returned to the backers by Indiegogo.


Columbia Basin Mining, LLC -- Bitcoin at a savings of 25% to 45% off market price.
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January 19, 2017, 07:22:01 AM
 #19

May I ask if your operation is profitable for your customers? I personally have seen a lot of comments here that says cloudmining operations are not profitable and most of them have become ponzi scams even if it is not the intent by the people who own them. In order to protect myself, and I encourage that others to too, please show us how profitable you really are backed by hard facts and numbers.

Columbia Basin Mining is not a cloud mining operation. In a cloud mining operation, you purchase hashing power and pay the expenses of the operator, which is why the one purchasing hashing power may have a hard time making a profit.  Also with cloud mining, your profitability decreases as the difficulties increase.  In our crowdfunding campaign, you are pre-paying for a set amount of Bitcoin and so you know exactly what you are getting for the price, there are no expenses or difficulties to worry about.



Is this a hedge? The timing of your product offering and what looks like a coming slow fall in BTC's price makes me think that you are predicting BTC might go down more. So if we pay you at today's prices and BTC goes down to lets say $500 then it would have been better for us to open a short position ourselves. I also want to know how are you going to assure your customers that you are really going to mine the prebought BTC?

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Paul Revere
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The Scamcoats are coming!


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January 19, 2017, 01:37:57 PM
 #20

May I ask if your operation is profitable for your customers? I personally have seen a lot of comments here that says cloudmining operations are not profitable and most of them have become ponzi scams even if it is not the intent by the people who own them. In order to protect myself, and I encourage that others to too, please show us how profitable you really are backed by hard facts and numbers.

Columbia Basin Mining is not a cloud mining operation. In a cloud mining operation, you purchase hashing power and pay the expenses of the operator, which is why the one purchasing hashing power may have a hard time making a profit.  Also with cloud mining, your profitability decreases as the difficulties increase.  In our crowdfunding campaign, you are pre-paying for a set amount of Bitcoin and so you know exactly what you are getting for the price, there are no expenses or difficulties to worry about.



Is this a hedge? The timing of your product offering and what looks like a coming slow fall in BTC's price makes me think that you are predicting BTC might go down more. So if we pay you at today's prices and BTC goes down to lets say $500 then it would have been better for us to open a short position ourselves. I also want to know how are you going to assure your customers that you are really going to mine the prebought BTC?

These guys are making miners as big as a fucking truck. As a matter of fact, they are trucks. If that don't convince you that they are for real, what will?

All of my posts are simply statements of my own personal opinions based on available information and pondering what might be possible considering human nature, with the goal of finding truth and preventing fraud. Please look at all of the facts and theories and put your thinking cap on to draw your own conclusions. If you feel that I have made a false statement or have been unnecessarily derogatory, I encourage you to please point it out, and if proven correct and/or reasonable I will remedy it. ~ Paul Revere
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