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Author Topic: I did it!! bitchain LLC is born!  (Read 947 times)
Us3rm0d
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February 18, 2017, 02:53:23 AM
 #1

I'm in the game guys....bitchain LLC has been filed and we will be up and operating in a month. Mining and Colocation services on the West Coast in Tacoma, WA.
We will have a pool and will be a full node soon as well  Grinhttp://imgur.com/a/U71FX
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February 18, 2017, 02:58:17 AM
 #2

What kind of service are you going to offer, is it just purely mining, mining pool services, or there are other services at hand that you will be offering the public. Are you going also to open and exchange  or a trading site? Goodluck to your business this is another good news to bitcoin industry and since you are running at full nodes there are big disadvantages that will benefit the community the moment you operate.

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February 18, 2017, 03:01:32 AM
 #3

I talked to someone who was interested in opening one here but would have lost almost everything due to electricity price and not being able to run at competitive rates. Are you sure you will be able to operate at competitive rates?














 

 

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Us3rm0d
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February 18, 2017, 03:13:53 AM
 #4

I'm getting power for half per KWh than anyone out here off a 10MW feed...I think it will be profitable  Grin
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February 18, 2017, 03:19:10 AM
 #5

I'm getting power for half per KWh than anyone out here off a 10MW feed...I think it will be profitable  Grin
yeah but how much is warehouse rent, who is going to watch and set up the machines, how much will you pay them, what if you or them drops a new miner and breaks it do you have the funds to repay the owner? What if a surge goes through and breaks equipment, do you have industrial surge equipment did you price everything into your startup or did you focus on $.03 a kWh?














 

 

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Us3rm0d
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February 18, 2017, 03:24:55 AM
 #6

What kind of service are you going to offer, is it just purely mining, mining pool services, or there are other services at hand that you will be offering the public. Are you going also to open and exchange  or a trading site? Goodluck to your business this is another good news to bitcoin industry and since you are running at full nodes there are big disadvantages that will benefit the community the moment you operate.

We're looking at moving toward an exchange but I want it to be very carefully planned out.
So far I have a thousand miners on the way from china for our own pool that will go public, I have an agreement with a connex provider for custom manufactured Modular miner containers, and we're going to have a 15,000sq ft. colocation space available by the end of March.

I'm burning my flares at both ends to make this happen and averaging 3 hrs of sleep a night until we're fully operational.

I thank all of you in advance for the community support!

Pass the word!

My placeholder site is http://www.bitchain.us
kingcolex
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February 18, 2017, 03:26:50 AM
 #7

What kind of service are you going to offer, is it just purely mining, mining pool services, or there are other services at hand that you will be offering the public. Are you going also to open and exchange  or a trading site? Goodluck to your business this is another good news to bitcoin industry and since you are running at full nodes there are big disadvantages that will benefit the community the moment you operate.

We're looking at moving toward an exchange but I want it to be very carefully planned out.
So far I have a thousand miners on the way from china for our own pool that will go public, I have an agreement with a connex provider for custom manufactured Modular miner containers, and we're going to have a 15,000sq ft. colocation space available by the end of March.

I'm burning my flares at both ends to make this happen and averaging 3 hrs of sleep a night until we're fully operational.

I thank all of you in advance for the community support!

Pass the word!

My placeholder site is http://www.bitchain.us
Oh so you are large scale, okay I was figuring more of just a small thing. Good luck I am rooting for ya, any time we can get more hashrate spread I'm happy.














 

 

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Us3rm0d
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February 18, 2017, 03:31:25 AM
 #8

I'm getting power for half per KWh than anyone out here off a 10MW feed...I think it will be profitable  Grin
yeah but how much is warehouse rent, who is going to watch and set up the machines, how much will you pay them, what if you or them drops a new miner and breaks it do you have the funds to repay the owner? What if a surge goes through and breaks equipment, do you have industrial surge equipment did you price everything into your startup or did you focus on $.03 a kWh?

Yes my CFO has his Masters in Business Finance and we've covered a ton.
our CTO has been mining since 2010 and gone through a gambit of failures and success, and I've fallen on my face with multiple ventures and have learned the hard way.
We're starting this out as a real corporate organization with structure and integrity....absolutely going to do this the right way!
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February 18, 2017, 03:43:50 AM
 #9

I'm getting power for half per KWh than anyone out here off a 10MW feed...I think it will be profitable  Grin
yeah but how much is warehouse rent, who is going to watch and set up the machines, how much will you pay them, what if you or them drops a new miner and breaks it do you have the funds to repay the owner? What if a surge goes through and breaks equipment, do you have industrial surge equipment did you price everything into your startup or did you focus on $.03 a kWh?

Yes my CFO has his Masters in Business Finance and we've covered a ton.
our CTO has been mining since 2010 and gone through a gambit of failures and success, and I've fallen on my face with multiple ventures and have learned the hard way.
We're starting this out as a real corporate organization with structure and integrity....absolutely going to do this the right way!

This is sounding really good! You've obviously got some experts working with you. Are you planning on expanding to more locations/miners in the future or just hoping to maintain the 1000 and see how that goes? What miners are you using btw? S9s? Avalon7? Something else?
Us3rm0d
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February 18, 2017, 06:54:17 AM
 #10

I'm getting power for half per KWh than anyone out here off a 10MW feed...I think it will be profitable  Grin
yeah but how much is warehouse rent, who is going to watch and set up the machines, how much will you pay them, what if you or them drops a new miner and breaks it do you have the funds to repay the owner? What if a surge goes through and breaks equipment, do you have industrial surge equipment did you price everything into your startup or did you focus on $.03 a kWh?

Yes my CFO has his Masters in Business Finance and we've covered a ton.
our CTO has been mining since 2010 and gone through a gambit of failures and success, and I've fallen on my face with multiple ventures and have learned the hard way.
We're starting this out as a real corporate organization with structure and integrity....absolutely going to do this the right way!

This is sounding really good! You've obviously got some experts working with you. Are you planning on expanding to more locations/miners in the future or just hoping to maintain the 1000 and see how that goes? What miners are you using btw? S9s? Avalon7? Something else?

The business plan it to be at 5,000 current Avalon 741s before the end of the year and then expand into our 150,000 sq ft facility Jan 2018 and turn up our Substation to 30MW but atm it's just an empty shell and needs to be finished out first before we can ramp up to compete with China. (Bitmain is out because of their recent hardware problems and I do not feel like it's morally sound to support them until they own 51% of the hash power in the world)
We have a 3 year plan before expanding to other sites like a potential Datacenter in Idaho that a partnering company recently purchased.
I plan on growing this until it can't go any further.....But we'll see what the future holds.
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February 18, 2017, 06:57:33 AM
 #11

Are you guys also going to allow some investments just like ViaBTC does, and willing to give the users some fair share???
I think this would definitely give a boost to your ongoing plans to be put into action in a more efficient manner...
I am an investor myself and I invest very small parts into such projects and reap some good profits, hope you are also going to give us the opportunity to join your hands...

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February 18, 2017, 07:04:53 AM
 #12

And Yes....We are willing to bring in investors but there will be a bit of a vetting process and the min investment is $1,000,000.00 just because it becomes an accountant's nightmare bringing on a ton of nickle and dime investments. Sorry guys but I have to stick to the business model that the guy with the Masters in Business Finance wrote up if we want this to work without falling on our faces.
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February 18, 2017, 07:55:47 AM
 #13

We're starting this out as a real corporate organization with structure and integrity....absolutely going to do this the right way!

I'm in the game guys....bitchain LLC has been filed and we will be up and operating in a month. Mining and Colocation services on the West Coast in Tacoma, WA.
We will have a pool and will be a full node soon as well  Grin

One sounds serious, one sounds like 11 years old. I don't know what to think here, i mean good luck man i wish more hash power spread but this sounds a bit unprofessional on my taste Tongue

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February 18, 2017, 08:40:29 AM
 #14

We're starting this out as a real corporate organization with structure and integrity....absolutely going to do this the right way!

I'm in the game guys....bitchain LLC has been filed and we will be up and operating in a month. Mining and Colocation services on the West Coast in Tacoma, WA.
We will have a pool and will be a full node soon as well  Grinhttp://imgur.com/a/U71FX

One sounds serious, one sounds like 11 years old. I don't know what to think here, i mean good luck man i wish more hash power spread but this sounds a bit unprofessional on my taste Tongue

Not to be snarky at all but would you mind elaborating? Which comment sounds like an 11 year old?
I'm just being straight to the point Wink

Don't get me wrong...I get the skepticism but I'm just as passionate as the rest here and I plan on pushing this as far as I can take it.
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February 18, 2017, 08:41:42 AM
 #15

And Yes....We are willing to bring in investors but there will be a bit of a vetting process and the min investment is $1,000,000.00 just because it becomes an accountant's nightmare bringing on a ton of nickle and dime investments. Sorry guys but I have to stick to the business model that the guy with the Masters in Business Finance wrote up if we want this to work without falling on our faces.
Interesting to know you also have intention of partnering with interested investors, but if the vetting process is all about those unable to cough out $1000,000.00 (one million dollars) then I already see a big crack in the business model proposed by your CFO. At that the funds through this channel may never come and that is not the same thing as recommending nickle and dime investments.

I like the idea of having as many nodes as possible outside of China, but it got me wondering, if majority of the equipment supplies is due to come from China, would that give you any edge to effectively compete with already established mining companies in China?



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Us3rm0d
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February 18, 2017, 08:55:31 AM
 #16

And Yes....We are willing to bring in investors but there will be a bit of a vetting process and the min investment is $1,000,000.00 just because it becomes an accountant's nightmare bringing on a ton of nickle and dime investments. Sorry guys but I have to stick to the business model that the guy with the Masters in Business Finance wrote up if we want this to work without falling on our faces.
Interesting to know you also have intention of partnering with interested investors, but if the vetting process is all about those unable to cough out $1000,000.00 (one million dollars) then I already see a big crack in the business model proposed by your CFO. At that the funds through this channel may never come and that is not the same thing as recommending nickle and dime investments.

I like the idea of having as many nodes as possible outside of China, but it got me wondering, if majority of the equipment supplies is due to come from China, would that give you any edge to effectively compete with already established mining companies in China?




Those are both great points and I agree with both.

1. The only issue with smaller investments from a startup point of view at this scale is that it becomes a nightmare to track until there's an IPO released and stock can be issued to smaller investors. I have a plan for the future that will involve more of the community but the operation needs to be as streamlined as possible until 2018.

2. I agree with you 100% on the China thing but in order to get going and be profitable we need to use "Off the Shelf Miners" but there is a plan in the works for development of our own system down the road that will require a lot of R&D and ultimately manufactured in China like every other Piece of Electronics in the world unless we can find somewhere else to manufacture them that makes sense.

I'm completely open to community discussion on these topics and definitely value your opinions....good or bad. If we don't listen to you how will we be a success?
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February 18, 2017, 09:02:00 AM
 #17

i have some question: why you don't use antminer s9? they are more efficient, and generate more btc over time, do you have a better deal with the avalon perhpas? and is hosting possible? what would be your charge?
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February 18, 2017, 09:47:39 AM
 #18

I don't think it is the right section to post about your upcoming mining pool. Not at least now. You can use mining pool discussion for the same. Also I am just curious about your mining operations. Are you going to mine bitcoin only? or you will have altcoins as well?


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February 18, 2017, 10:48:36 AM
 #19

I'm in the game guys....bitchain LLC has been filed and we will be up and operating in a month. Mining and Colocation services on the West Coast in Tacoma, WA.
We will have a pool and will be a full node soon as well  Grin

Congrats! Starting a business is always extremely exciting! I used to live in Washington for quite a while. Definitely have to find something to keep your mind off of all the rain!  Grin

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February 18, 2017, 11:03:05 AM
 #20

Good luck with your project. Will you have a chance to use solar [power for part of you supply?

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