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Author Topic: [IPO] [CANCELLED] TURTLE MINING  (Read 1233 times)
SilentSonicBoom
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May 08, 2013, 06:48:44 AM
 #1

THIS IPO IS CANCELLED

Due to lack of interest and overpriced hardware Cheesy

TURTLE MINING

IPO

Slow and steady wins the race!

  FAQ

What is TURTLE MINING?

It is an offering of shares to give investors the opportunity to pool resources to participate in Bitcoin mining without purchasing their own hardware and without a large upfront cost.

2.  Initial Offering

Shares will be issued at the price of 0.021013 Bitcoin per share. Purchase as few or as many as you like.

3. What will the proceeds be used for?

All bitcoin raised by the purchase of shares will be used to purchase AsicMiner the Sapphire Batch Block Erupter USB Bitcoin miners. https://bitcointalk.org/index.php?topic=195004.0
The miners will be purchased in the ASICMiner Block Erupter USB group buy (US/Canada) being run by arklan with John K. as escrow at https://bitcointalk.org/index.php?topic=195052.0

4. What are the rewards of share ownership?

TURTLE MINING will use the miners to mine Bitcoin.
 60% of all Bitcoin earned will be distributed to shareholders weekly on Friday mornings 12AM EST + or - 48 hours.
 40% of all Bitcoin earned will be used to purchase more mining hardware to increase the mining hashrate of TURTLE MINING. This 40% MAY be temporarily invested into securities listed on https://btct.co/ or https://bitfunder.com/ with any dividends earned accumulating towards more mining hardware purchases.

5.  What are the fees?

5% of bitcoin earned before dividend distribution and mining hardware investment will go to SilentSonicBoom for managing  TURTLE MINING. Any alt coins mined(if any) will be used to pay for operational expenses such as electricity, power strips, usb hubs, etc.

6. Will the shares be tradeable in the future at https://btct.co/ or https://bitfunder.com/ ?

It is the goal of TURTLE MINING to be listed on one or both of these exchanges in the next 12 months or sooner.

6. Can I sell or trade my shares?

Shares may be sent or received twice a month free of charge. Any more than this will incur a charge of 0.1 Bitcoin. What you can sell them for to another person is up to you. Both parties to the transfer must notify SilentSonicBoom by PM to transfer shares.

7. What if I want to cash out my shares?

Shares will be bought back if you face financial hardship and must sell. The going rate will be 0.01 Bitcoin per share. This will be paid from the 40% of bitcoin earmarked for mining hardware purchases. Any shares repurchased this way will be issued but not be outstanding. In the rare circumstance that more requests than bitcoin available to repurchase shares happens, a queue will be formed with First In First Out as Bitcoin become available from mining. Contact SilentSonicBoom if you face financial hardship and must sell your shares.

8. Any Risks?

Bitcoin becomes worthless.

 Not receiving initial mining hardware from group buy operator.

SilentSonicBoom gets run over by bus Smiley
 (dead man’s switch (college aged son to takeover TURTLE MINING)

9. Contact Information

SilentSonicBoom https://bitcointalk.org/index.php?action=profile;u=95805


10. How To Buy Shares?

Either post how many shares you wish to purchase in this thread or PM SilentSonicBoom with how many you wish to purchase. Shares need to be purchased in the next 36 hours or so. This is so I can order the appropriate hardware for amount of shares purchased. I will post in the thread your payment address or PM it to you if you wish to have some privacy. Payment must be sent within 36 hours of receiving payment address. Looking forward to working with everyone to make TURTLE MINING great!!!!


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shibaji
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May 08, 2013, 07:26:00 AM
 #2

So you want others to fund your overpriced hardware purchase ?
SilentSonicBoom
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May 08, 2013, 07:30:31 AM
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No. It is an opportunity for those that can't afford over 2 Bitcoin. I just increased my order from 1 USB miner to 2 USB miners. I agree they are not priced very attractively. Thanks for the comment.

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May 08, 2013, 07:33:34 AM
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No. It is an opportunity for those that can't afford over 2 Bitcoin. I just increased my order from 1 USB miner to 2 USB miners. I agree they are not priced very attractively. Thanks for the comment.

Then make it clear in your IPO statement that this is a losing investment, geared towards community service of spreading the love for bitcoin. Someone who cannot afford to spend 2 btc, should not touch this with 100 foot pole, as this will make him/her poorer.

In fact, they should just buy ASICMINER share, and that would be a 10X better investment.
SilentSonicBoom
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May 08, 2013, 07:38:34 AM
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I tend to disagree. Some dividends will be reinvested to increase the hashrate. Not everyone in the forums has the time, know how, etc. to run a mining rig. I thought I would throw this out there. People can decide what they want to do with their Bitcoin. Not everyone can afford Avalons or wait for BFL to deliver. Those mining with GPU's still, need 100's to 1,000's of dollars to get a rig running. This is set up so a minimal investment may see gains in the future.

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May 08, 2013, 07:40:16 AM
 #6

Also, I own a small amount of ASICMINER shares as well as a few select other shares in the Bitcoin realm.

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May 08, 2013, 07:40:31 AM
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I tend to disagree. Some dividends will be reinvested to increase the hashrate. Not everyone in the forums has the time, know how, etc. to run a mining rig. I thought I would throw this out there. People can decide what they want to do with their Bitcoin. Not everyone can afford Avalons or wait for BFL to deliver. Those mining with GPU's still, need 100's to 1,000's of dollars to get a rig running. This is set up so a minimal investment may see gains in the future.

The USBs are not worth it, seriously. They're just a novelty.

Also, I own a small amount of ASICMINER shares as well as a few select other shares in the Bitcoin realm.

And? That matters because?
SilentSonicBoom
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May 08, 2013, 07:44:08 AM
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I believe in diversification. What happens to all your Bitcoin investment in ASICMINER shares if someone burns down their datacenter or datacenters? I have read the reasons not to buy the USB miners just as many said don't keep buying GPU's in the past(and they kept making a profit).

shibaji
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May 08, 2013, 07:47:48 AM
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Do whatever you do. I guarantee you that the hardware coming out of ASICMINER are overpriced and is a losing investment - since you are offering an IPO, just make that clear. It is up to you whether you choose to throw some of your investment into garbage can, but do not mislead others.

SilentSonicBoom
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May 08, 2013, 07:47:51 AM
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The USBs are not worth it, seriously. They're just a novelty.

Also, I own a small amount of ASICMINER shares as well as a few select other shares in the Bitcoin realm.

And? That matters because?

It does not matter. I believe ASICMINER is a great investment and was letting shibaji know I own some shares. If you don't like the IPO offer, take your Bitcoin somewhere you prefer to use it. I believe ASICMINER should have a great report coming up and hopefully the dividend will be hiked or else reinvested.

shibaji
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May 08, 2013, 07:49:35 AM
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The USBs are not worth it, seriously. They're just a novelty.

Also, I own a small amount of ASICMINER shares as well as a few select other shares in the Bitcoin realm.

And? That matters because?

It does not matter. I believe ASICMINER is a great investment and was letting shibaji know I own some shares. If you don't like the IPO offer, take your Bitcoin somewhere you prefer to use it. I believe ASICMINER should have a great report coming up and hopefully the dividend will be hiked or else reinvested.

Are you bipolar ? We all agree that ASICMINER shares are good investment at this point - that is not the point, but that does not mean ASICMINER hardware for sale is ! They are absolutely non investment grade stuff. Got it ?

Anyways, nuff said - despite these warnings if anyone wants to throw money into your pit, let that be.
SilentSonicBoom
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May 08, 2013, 07:54:27 AM
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Do whatever you do. I guarantee you that the hardware coming out of ASICMINER are overpriced and is a losing investment - since you are offering an IPO, just make that clear. It is up to you whether you choose to throw some of your investment into garbage can, but do not mislead others.


I am not trying to mislead anyone. There is no guarantee of anything. ASICMINER's recent blade auction seems overpriced as well. But has BFL delivered much yet? How come the delay in Avalon 2nd and 3rd batch? At least ASICMINER delivers mining hardware. Any hardware purchase can become a losing investment. I have preorders for BFL that are losing the value of time day by day. My GPU's mining have paid for themselves and then some. Life is a risk. Thanks for the comments anyways.

SilentSonicBoom
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May 08, 2013, 07:57:40 AM
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The USBs are not worth it, seriously. They're just a novelty.

Also, I own a small amount of ASICMINER shares as well as a few select other shares in the Bitcoin realm.

And? That matters because?

It does not matter. I believe ASICMINER is a great investment and was letting shibaji know I own some shares. If you don't like the IPO offer, take your Bitcoin somewhere you prefer to use it. I believe ASICMINER should have a great report coming up and hopefully the dividend will be hiked or else reinvested.

Are you bipolar ? We all agree that ASICMINER shares are good investment at this point - that is not the point, but that does not mean ASICMINER hardware for sale is ! They are absolutely non investment grade stuff. Got it ?

Anyways, nuff said - despite these warnings if anyone wants to throw money into your pit, let that be.

Bipolar. Take a chill pill or some lithium. Seriously, I respect your views and at the same time am entitled to mine. If no one wishes to purchase shares, so be it. People should do their own due diligence before any type of investment.

TradeFortress 🏕
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May 08, 2013, 08:28:13 AM
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You don't need to tell people to piss off. The forum is a public place, and if your company is a bad idea, then people have the right to post messages that says your company is a bad idea.
SilentSonicBoom
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May 08, 2013, 08:31:05 AM
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You don't need to tell people to piss off. The forum is a public place, and if your company is a bad idea, then people have the right to post messages that says your company is a bad idea.
I was not. He asked me if I was bipolar. Really?! I have seen both of you being active in the forums and respect your thoughts. I didn't tell anyone to piss off. Thanks for the input.

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May 08, 2013, 08:32:34 AM
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You don't need to tell people to piss off. The forum is a public place, and if your company is a bad idea, then people have the right to post messages that says your company is a bad idea.
I was not. He asked me if I was bipolar. Really?! I have seen both of you being active in the forums and respect your thoughts. I didn't tell anyone to piss off. Thanks for the input.
Sorry, I didn't read him calling you bipolar, I thought you were calling him bipolar. I redact my previous post.
SilentSonicBoom
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May 08, 2013, 08:33:52 AM
 #17

You don't need to tell people to piss off. The forum is a public place, and if your company is a bad idea, then people have the right to post messages that says your company is a bad idea.
I was not. He asked me if I was bipolar. Really?! I have seen both of you being active in the forums and respect your thoughts. I didn't tell anyone to piss off. Thanks for the input.
Sorry, I didn't read him calling you bipolar, I thought you were calling him bipolar. I redact my previous post.

No problem. Everyone is entitled to an opinion. I am easy to get along with.

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May 08, 2013, 08:46:07 AM
 #18

This will be a negative ROI by a large margin. You want to flush your coins down the toilet do it yourself dont take anyone else with you.

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