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ColumbiaBasinMining
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January 19, 2017, 05:45:30 PM
 #21



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?

We cannot predict what the market will be in the future, however, most predictions show that the price will continue to go up as seen in the articles that are posted on our website (Crowdfunding Opportunity) at the bottom of the page.

The idea behind our crowdfunding campaign comes from a typical way that traditional gold mine funds their operations. They use a streaming contract where the backer is pre-paying for Gold at a set price and receive a percentage of the mining production until the contract is fulfilled. CBM will be fulfilling perks from 62.50% of the mining production until all perks are fulfilled.

The best assurance we can give you is that the crowdfunding campaign will be done through Indiegogo. The backers will send their pledged amounts to Indiegogo and Indiegogo only releases those funds if the campaign is successful. All backers will be kept informed of the progress along the way through regular updates and progress reports through both Indiegogo and through a Campaign Updates page on our website.  Backers will receive regular newsletters updating them on progress and perk fulfillment.


Columbia Basin Mining, LLC -- Bitcoin at a savings of 25% to 45% off market price.
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January 20, 2017, 12:14:49 AM
 #22



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?

We cannot predict what the market will be in the future, however, most predictions show that the price will continue to go up as seen in the articles that are posted on our website (Crowdfunding Opportunity) at the bottom of the page.

The idea behind our crowdfunding campaign comes from a typical way that traditional gold mine funds their operations. They use a streaming contract where the backer is pre-paying for Gold at a set price and receive a percentage of the mining production until the contract is fulfilled. CBM will be fulfilling perks from 62.50% of the mining production until all perks are fulfilled.

The best assurance we can give you is that the crowdfunding campaign will be done through Indiegogo. The backers will send their pledged amounts to Indiegogo and Indiegogo only releases those funds if the campaign is successful. All backers will be kept informed of the progress along the way through regular updates and progress reports through both Indiegogo and through a Campaign Updates page on our website.  Backers will receive regular newsletters updating them on progress and perk fulfillment.



 A streaming contract is a security, specifically addressed in the Dodd-Frank Wall Street Reform and Consumer Protection Act.  Where is your SEC registration ?

Protip: Before you find yourself waiting in line to be tried for Securities Fraud , read this book.

Try page 10 for a quick primer.


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
ColumbiaBasinMining
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January 20, 2017, 03:52:15 AM
 #23



A streaming contract is a security, specifically addressed in the Dodd-Frank Wall Street Reform and Consumer Protection Act.  Where is your SEC registration?

First of all, The Indiegogo campaign has not yet been launched, we are not currently selling anything. It is being discussed here on this forum to gauge interest in a potential crowdfunding campaign. Crowdfunding offers exceptions to the normal securities laws in order to allow start-ups to raise funds to start their business through smaller amounts. The crowdfunding campaign will be done in accordance with the rules for crowdfunding. If Indiegogo determines that this campaign and its perks do not fit within the SEC exceptions for crowdfunding, then the campaign will not go forward.

Second, the Dodd-Frank Wall Street Reform and Consumer Protection Act does not specifically mention "streaming contract", which you can easily find out by doing a text search of the Act. But since you mentioned it, the reference to streaming contracts was a reference to gold mining and making a correlation to the perks being offered in this potential crowdfunding campaign.

At this stage, we came to the forum only to gauge interest in a potential crowdfunding campaign, which would be done through Indiegogo following all the rules of crowdfunding. Please be careful with accusing people of securities fraud.


Columbia Basin Mining, LLC -- Bitcoin at a savings of 25% to 45% off market price.
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January 20, 2017, 06:16:11 AM
 #24

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?

Do you know how many people got scammed here in this forum? A LOT. So dont talk as if Im paranoid or something. I have the right to ask anything I want in a public forum. How do we know that ColumbiaBasinMining is not scamming us because he could very may well be. Its good to advice everyone to be careful and its also expected that shills start cheering the scammers on. Thats an overused tactic here at BCT.

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January 20, 2017, 09:29:48 AM
 #25

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?

Do you know how many people got scammed here in this forum? A LOT. So dont talk as if Im paranoid or something. I have the right to ask anything I want in a public forum. How do we know that ColumbiaBasinMining is not scamming us because he could very may well be. Its good to advice everyone to be careful and its also expected that shills start cheering the scammers on. Thats an overused tactic here at BCT.

I think you missed the intended humor in that post.....


Hey Keith, Steve and Pete

It's all very well telling us this story but you really have to beef it up with some verifiable facts if you're going to be asking for investment.

To be honest, if I had a BTC for every time I've heard similar potted bio's, I'd be an honorary Winklevoss triplet.....
You claim to have a mining setup currently operating in BC.
What actual proof can you offer of that?
You claim to have developed your own "leading-edge mining equipment".
What actual proof can you offer of that?

You misuse the word "arbitrage".
Arbitrage involves simultaneous transactions in two different markets to exploit short term anomalous movements.
All you're doing in your proposal is offering to reward investors by discounting your product (bitcoin) for them at some time in the future.

Extraordinary Claims require Extraordinary Evidence
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January 20, 2017, 06:50:58 PM
 #26

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?

Do you know how many people got scammed here in this forum? A LOT. So dont talk as if Im paranoid or something. I have the right to ask anything I want in a public forum. How do we know that ColumbiaBasinMining is not scamming us because he could very may well be. Its good to advice everyone to be careful and its also expected that shills start cheering the scammers on. Thats an overused tactic here at BCT.

I think you missed the intended humor in that post.....



Shhh. Don't blow my super secret double opposite retrograde scam shill cover man!

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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January 20, 2017, 07:31:08 PM
 #27



A streaming contract is a security, specifically addressed in the Dodd-Frank Wall Street Reform and Consumer Protection Act.  Where is your SEC registration?

First of all, The Indiegogo campaign has not yet been launched, we are not currently selling anything. It is being discussed here on this forum to gauge interest in a potential crowdfunding campaign. Crowdfunding offers exceptions to the normal securities laws in order to allow start-ups to raise funds to start their business through smaller amounts. The crowdfunding campaign will be done in accordance with the rules for crowdfunding. If Indiegogo determines that this campaign and its perks do not fit within the SEC exceptions for crowdfunding, then the campaign will not go forward.

Second, the Dodd-Frank Wall Street Reform and Consumer Protection Act does not specifically mention "streaming contract", which you can easily find out by doing a text search of the Act. But since you mentioned it, the reference to streaming contracts was a reference to gold mining and making a correlation to the perks being offered in this potential crowdfunding campaign.

At this stage, we came to the forum only to gauge interest in a potential crowdfunding campaign, which would be done through Indiegogo following all the rules of crowdfunding. Please be careful with accusing people of securities fraud.




Please do tell about how the collection phase of offering a security is not covered by securities laws. I happen to know that it is the primary focus and purpose of such laws, because that is where most of the fraud occurs.

 As far as the term "streaming contract" not popping up when your high dollar legal team scoured Dodd-Frank last night, let me explain it to you :

 The underlying principles of which a financial instrument such as a "streaming contract" are constructed are covered. In depth. Your brilliant deduction is like saying that "Taking a machine gun and emptying the clip into a crowd" is not mentioned verbatim in any law, therefore it is perfectly legal. SMH.

I have to give you credit where credit is due, though. I must say that I have never seen a mining scam operation respond to requests to see Bitcoin Mining Hardware by showing them a picture of some trucks before. +1 for originality. Another +1 for not showing any in your website as well. Kudos!

Keep at it Tiger! You're Special, and don't let any of the other kids tell you that you're not as smart as they are!

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
ColumbiaBasinMining
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January 20, 2017, 10:56:41 PM
 #28



Hey Keith, Steve and Pete

It's all very well telling us this story but you really have to beef it up with some verifiable facts if you're going to be asking for investment.

To be honest, if I had a BTC for every time I've heard similar potted bio's, I'd be an honorary Winklevoss triplet.....
You claim to have a mining setup currently operating in BC.
What actual proof can you offer of that?
You claim to have developed your own "leading-edge mining equipment".
What actual proof can you offer of that?

You misuse the word "arbitrage".
Arbitrage involves simultaneous transactions in two different markets to exploit short term anomalous movements.
All you're doing in your proposal is offering to reward investors by discounting your product (bitcoin) for them at some time in the future.

The story and the bios on our website are the only stories and bios we have and are an accurate depiction of how we found ourselves in our current position. Our current operations are in Central WA, not in BC. The pictures of the building is the base HQ where we developed and will continue to manufacture our miners and do the testing. Our miners will be placed on different properties that we own or lease that have ample power of 2MW or more. The initial property for this potential campaign has 10MW available, which property is owned by one of the co-founders. Because of their proprietary nature, we cannot provide pictures of the miners at this time in order to protect the viability of the operation.

Arbitrage is done in several ways. The way you describe (simultaneous) and in a buy/hold type of scenario where a person buys currency on one exchange at a low price, holds as the market increases and then sells on another exchange for a higher price. However, your understanding of our perks is somewhat correct. Platforms like Kickstarter and Indiegogo are platforms for start-ups to raise funds in exchange for perks. Those perks are normally product offered as a perk at a reduced price. In our potential campaign, that perk happens to be a Bitcoin Paper Wallet at different amounts of Bitcoin at 25%-45% of face value.


Columbia Basin Mining, LLC -- Bitcoin at a savings of 25% to 45% off market price.
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January 20, 2017, 11:01:48 PM
 #29



To clear up any misconceptions and as a final post, Columbia Basin Mining started this thread only to gauge interest in a potential crowdfunding campaign that would be done through the well-known crowdfunding platform of Indiegogo. Our campaign has not yet been approved through Indiegogo and would only go forward if approved by Indiegogo. Part of the process Indiegogo goes through is to make sure that campaigns are not violating any SEC rules, which we are dedicated to following and the reason we chose Indiegogo as a known platform.

As most of you will understand, platforms like Kickstarter and Indiegogo are platforms for start-ups to raise funds in exchange for perks. Those perks are normally product offered as a perk at a reduced price. In our potential campaign, that perk happens to be a Bitcoin Paper Wallet at different amounts of Bitcoin at 25%-45% of face value. Kickstarter and Indiegogo have lots of information related to crowdfunding on their websites and you are free to read up about the crowdfunding rules. Crowdfunding does not violate SEC rules.  

We are appreciative of the legitimate inquiries made and we hope that our explanations were helpful. We realize that many people have perpetrated scams on the Bitcoin community. We are mindful of the skepticism and would not ask anyone to do anything they didn't feel comfortable doing when and if our campaign moves forward. We are closing the thread at this time to focus on getting approval from Indiegogo for our potential campaign. If you want to participate and receive updates on our progress, please sign up through our website.


Columbia Basin Mining, LLC -- Bitcoin at a savings of 25% to 45% off market price.
ColumbiaBasinMining
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January 24, 2017, 01:27:20 AM
 #30



Since locking this thread, we did receive inquiries although not through our website.  First, we must iterate, that we are only here to gauge interest in our potential crowdfunding campaign.

Primary question asked was how are we going to keep up with the price fluctuations?  We are offering pre-paid Bitcoin at a savings of 25% - 45% off a set market price of $800.00 per Bitcoin.  Depending on how long you are willing to wait, the better the pricing will be.  We have included an image of the pricing schedule.


Also, we are not a cloud mining site, there would be no contract to sign, no maintenance fees or anything else related to cloud mining.  The crowdfunding campaign will be done through IndieGoGo.

Finally, Backers will receive a Bitcoin Paper Wallet from Columbia Basin Mining, where upon receipt of this paper wallet, the backer will have to confirm through our verification process.  Once confirmation is verified the wallet will be fully funded and available for immediate use.  We are taking these measures to ensure backer's that their bitcoin are safe until requested.

We ask anyone that has an interest in our campaign to please sign up through our website, and we will keep you informed on our progress.


Columbia Basin Mining, LLC -- Bitcoin at a savings of 25% to 45% off market price.
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