[ANN] Community Mining - Avalon ASIC chip Miner- 11GH/s

[Foofighter]

Worst case seems to be a year to get the 110% back, which is still good.
Now, there is still a part of risk/trust issues.

As mentioned before , I will provide my identity to a trusted forum member and he will post a verification of this, I hope he can provide this in the next days.

best regards
Foofighter

[1714938836]

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[1714938836]

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[1714938836]

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[1714938836]

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[yxt]

worst case is you get 0% back

But with the

Your income is composed by direct Bitcoin mining revenues

term

I bear full risk, but have only 10% chance.
It makes much more sense to invest in a community mining project.
The same risk much greater profit opportunity

This offer is good only for you.

[Foofighter]

worst case is you get 0% back

But with the

Your income is composed by direct Bitcoin mining revenues

term

This would only be the case if we scam our investors. Our current ROI calculation is based on a assumption that the current difficulty level increases by 100%, of course nobody knows what the difficulty level will be in the coming months..

I bear full risk, but have only 10% chance.
It makes much more sense to invest in a community mining project.
The same risk much greater profit opportunity

This offer is good only for you.

If the difficulty would raise to a higher level , there will still be mining profit. As i have seen, nearly all community mining projects out there, work with the hardware of BFL or other companies where nobody can even guess if or when they deliver there devices.

We think the asic chips from Avalon + the assambly service is the best bet and still the cheapest solution on the market right now.

Best regards
Foofighter

[yxt]

bfl sucks but that's not the point.

fair profit / risk allocation & I'm with you.

[Akka]

I agree with yxt here. Pyramining has already shown that with all the risks involved in Mining 10% is a rather bad deal.

I think making the reward floating would be a better way to handle this.

If the project is highly profitable, investors will get more out, if something happens and the difficult goes to the sky they will get less.

A way to archive this would be, f.e. make timed accounts. A account stays active until the initial investment is paid back, at this point a timer starts, keeping it active for additional 6 Month, so everything mined in this 6 month is profit for the investor. After that the hardware is yours.

Or you go immediately the way, that the investor gets the hardware for as long as it remains providable. In comparison you get a percentage for hosting and providing the service.

[Foofighter]

Thanks for the positive feedback @akka and yxt!

I agree with both of you, initially my thought on this project was just to provide a better pyramining because i had in mind that a community mining Project would provide a lot of risk to us.

But now I am definatly convinced that a community mining attempt is the best solution for both the investors and us.

We will work this solution out in the next days/hours and will release it to the community, I hope you will also give us your well appreciated feedback on the worked out concept.

Basically, as akka mentioned a Share(1GH/s per share?) system would be the best solution but without a buyback of the given out shares, because this would at the end again provide a high financial risk for us.

Thanks so far for your feedback!

Best regards
Foofighter

[yxt]

Wow, awesome feedback-response
Now I'm interested.

+1

[Foofighter]

Hi all,

so we made a new reworked concept, based on the community mining attempt suggested by yxt and akka.

Now I am awaiting your feedback for this new project proposal, what I am still not sure about is the payment adress, if we should use a single or multiple adresses.

Best regards
Foofighter

[Foofighter]

Today I got additional Feedback from akka, which comprehend a few use cases which arent already included in our FAQ and the main conditions to what will happen if the service ends respectively what options does the investors have with there shares in this cases. Also we will change the Share splitting of the devices to a round number, either 5 parts(1,1gh/s) or 6 parts(916Mh/s).

We will implement this changes until tommorow and hopefully we can then proceed soon to akkas identity approval and the open payments.

regards
Foofighter

[Foofighter]

Hey guys,

the project has moved on from announcements to the Services section:

https://bitcointalk.org/index.php?topic=216782.msg2276338#msg2276338

Please post only in the new thread from this post on.

Thanks!

Bestn regards
Foofighter