[LTC-Global] Buy-A-Hash, a simple, no-frills LTC/Altcoin Mining Bond

[Benny1985]

Hi everyone,

I'm happy to announce that our stock has just been launched on Litecoin Global: https://www.litecoinglobal.com/security/BUY-A-HASH

Its a simple, straightforward, and transparent mining bond. You pay in LTC that is approximated at $1.00 USD. In return, you get 0.5 KHs of mining dividends, send to you weekly. No frills, no gimmicks, no highly variable payouts. Just a simple dividend that you get weekly, in addition to a callable bond that is redeemed 120% of face value, should we elect to do that.

I've been working with private, fiat investors for about 2 months now, building and deploying rigs. We're currently at 15 MH, with about 7-8 MH of additional capacity. This has led us to look at commercial buildings to grow our venture out. Now that we're closing on a lease of a commercial building, we're looking at securing additional funds for the project.

We have a few businesses as a side project - selling PCI-E Risers via our website, selling pre-built rigs, and developing some other stuff to sell via our website. Since we have a few facets, we wanted to keep this as a bond instead of company shares, since it'd take away from the mining contract.

Additionally, we're a duly-formed LLC in the State of Ohio. We're working to make this as legitimate and compliant with state and federal laws where and when possible. Our goal is to begin rig deployment in mid-June, so there's enough time in between now and then to take any and all questions.

Feel free to ask any questions not contained on the URL link that has contract/business details.

Thanks, and hope to work with you soon!

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[hendo420]

So if i sent you say, $1000 worth of LTC I would get the profit 500kh/s would bring me weekly?

Forever? Or till you decide to repay 120% of the original deposit?

Its just that I could build a rig that would do 1900kh/s for $1300 and I can sell all the parts of it up to a year or 2 from now for 80-90% of the original value. Yea I have to maintain the hardware and pay the power bill but it still seems like a better deal to build my own.

I'll keep you in mind for my non techie friends who want to invest.

[notaek]

Good luck.  I tried to offer something a few months ago that had a rate of $1/kilohash and nobody wanted anything to do with it.

[Benny1985]

So if i sent you say, $1000 worth of LTC I would get the profit 500kh/s would bring me weekly?

Forever? Or till you decide to repay 120% of the original deposit?

Its just that I could build a rig that would do 1900kh/s for $1300 and I can sell all the parts of it up to a year or 2 from now for 80-90% of the original value. Yea I have to maintain the hardware and pay the power bill but it still seems like a better deal to build my own.

I'll keep you in mind for my non techie friends who want to invest.

Its forever, or until I decide to pay 120% of face value (if I ever do). You're correct that you can get a better return doing it yourself - the bond takes out all of the guesswork in regards to any other costs, since there can be a lot intrnsic in having more than 1 or 2 rigs (HVAC, electric costs, building overhead, monitoring, ect).

[spoid]

I have traditionally shied away from things like this because I assume there are more laws and regulations involved than when I mine myself, especially if I am not from the US. I guess there is paperwork involved? On the one hand, real world paperwork is probably necessary, because otherwise how can I be sure that you do deliver / keep the promise. On the other hand, paperwork and taxes for buying shares of something in another country might turn out to be a terrible hassle. Anyone know more?

/Edit/ However you are correct, for example my building is old and I don't think the wiring can take more than two rigs, there is not enough ventilation, summer is coming and electricity prices in Germany are ridiculous. Renting Hashpower is definitely something to think about. Sadly I never read anything about notaek's offer, I assume it's cancelled?

[Benny1985]

I have traditionally shied away from things like this because I assume there are more laws and regulations involved than when I mine myself, especially if I am not from the US. I guess there is paperwork involved? On the one hand, real world paperwork is probably necessary, because otherwise how can I be sure that you do deliver / keep the promise. On the other hand, paperwork and taxes for buying shares of something in another country might turn out to be a terrible hassle. Anyone know more?

/Edit/ However you are correct, for example my building is old and I don't think the wiring can take more than two rigs, there is not enough ventilation, summer is coming and electricity prices in Germany are ridiculous. Renting Hashpower is definitely something to think about. Sadly I never read anything about notaek's offer, I assume it's cancelled?

Due to the nature of the stock exchange, all investment is "Simulated", as to ensure that no paperwork is needed (on your end at least - there's a lengthy verification process to asset issuers). That makes it riskier for the holder, as there are scams out there. However, the stocks and bonds that are legitimate return some pretty huge dividends.

Not sure about notaek's offer, as I'm unfamiliar with it.

[solstoce]

This is open for trade now. He has sold over 25k USD worth of shares in less the 15 hours, u do the math...  only 25k more up for grabs!

[spoid]

bought a few, why not?

[sidelsky18]

Eh, $1 per 0.5 Kh/s is pretty expensive. To get the equivilent of my personal computer mining (360 Kh/s) would cost $720?!

[Benny1985]

Eh, $1 per 0.5 Kh/s is pretty expensive. To get the equivilent of my personal computer mining (360 Kh/s) would cost $720?!

That assumes a few things:

1. You don't have any secondary costs (HVAC, electricity, rent, ect)
2. You run your machines 24/7.

We're taking out those two variables. The reality is that if you wanted to build more than a few systems at home, you'd have to start running new electric lines, installing HVAC push-pull systems, and so on. That adds to the cost - not to mention how much time you spend monitoring.

For some, what we're offering certainly is not a better deal. But for others, it may be a better deal. Additionally, there's no hardware depreciation in this scenario, nor hardware breakdowns - we cover all of that in our costs, not yours.

[spoid]

minus electricity cost
minus hassle

[Benny1985]

minus electricity cost
minus hassle

Right.

You can absolutely make more on your own. But that's not an option for some people. If you're outside the US, you are going to pay a lot more for your build and electricity than I am in the middle of nowhere, Ohio. That will reduce your profits. The biggest thing I've run into are the secondary costs - the HVAC and electric.

If you wanted to, say, run a large number of rigs, you'd have to spend a nice chunk of change on running new electric lines, as well as air conditioning. I can tell you from what I've done already that neither comes cheap. I'm going to buy a 15,100 BTU AC unit today to triple my current capacity. That is $350 + 10 amps of electric that can't go to rigs that I have to make up in additional electric installation. Most electricians I am seeing would charge about $1,000 to run 4x20a lines, which increases your costs on multiple rigs.

Its the little things you don't think about. Again, if you have a spare PC and can get a 7950 cheap, up, and running, my bond is not for you. But if you want to get some extra LTC on a bond that you can always get rid of for full purchase price (or more, possibly), then I think its a good deal.

According to my calculations, even a 0.5 KHs investment will get you an ROI of 50% annually since you're not paying any other costs - and that 50% quote is after factoring in a 30% monthly difficulty increase for 3 months, then 10% thereafter.

[Liquid]

Grats mate ill be looking into this 

[jayjay2244]

You can buy bots cheaper 

[aysyr]

Just invested some Benny, always wanted more hashpower but it's gotten too hot in my basement and I'd need to install a new circuit to handle more.

One suggestion though... if you release more shares as you expand, I think it'd be fair to release them at around the average market price of your shares rather than a set $1 (since the price of LTC can go up). The people already holding are your early investors so I don't see why you should reward latecomers with cheaper prices

[solstoce]

Just invested some Benny, always wanted more hashpower but it's gotten too hot in my basement and I'd need to install a new circuit to handle more.

One suggestion though... if you release more shares as you expand, I think it'd be fair to release them at around the average market price of your shares rather than a set $1 (since the price of LTC can go up). The people already holding are your early investors so I don't see why you should reward latecomers with cheaper prices

I agree totally with this, if you keep the price linked to fiat its gonna be terriable for when LTC breaks out of the slump its caught in lately. An example would be if LTC goes back to $5 a shares only cost around 0.18 LTC.  I would hate to see latecomers get this price if it stays tied to $1 when other shares get released.

[Benny1985]

One way it could be handled is to set the price at 0.3 LTC and simply use the excess currency to increase the total dividend performance above 0.5 KHs per mining bond, therefore rewarding early adopters with more hashing power.

I did present a motion about releasing more shares, but at a higher price - 0.33 LTC. I may look at slowly inching the price up as we get closer to selling out.

[aysyr]

One way it could be handled is to set the price at 0.3 LTC and simply use the excess currency to increase the total dividend performance above 0.5 KHs per mining bond, therefore rewarding early adopters with more hashing power.

I did present a motion about releasing more shares, but at a higher price - 0.33 LTC. I may look at slowly inching the price up as we get closer to selling out.

I was also thinking if you'd ever increase the hashing power per share. That would be an excellent balance as well if you'd prefer to do it that way

[willhash4food]

Some people just CAN'T WAIT to bring crypto currency to it's knees by incorporating the exact same ideas of fiat currency.

Let this company fall flat on its face with zero paperwork for it's "shareholders".

If I could, I'd ban you (OP) from this form.

Yes, offense.

[solstoce]

One way it could be handled is to set the price at 0.3 LTC and simply use the excess currency to increase the total dividend performance above 0.5 KHs per mining bond, therefore rewarding early adopters with more hashing power.

I did present a motion about releasing more shares, but at a higher price - 0.33 LTC. I may look at slowly inching the price up as we get closer to selling out.

So it went from at least 0.5 khash to a set 0.5 khash now you want to release more shares? now even though you have done nothing with the 50k usd already raised plus the 50k shares you just sold? Also you referenced earlier you would have cash investors already of 50k. I only see negative effects for ltc share holders and lots of dilution if this passes adding more bonds before any devices are deployed nor any new cash investors is gonna slaughter you before you even get started!

Lastly, your plan is to release shares and hold them back to slowly be released as the price of ltc increases? So much for a free market. Just wanted to let you know why ill be selling this bond today!