[Closed] PAMB - World's first 100Mh/s perpetual mining bond. 100% PPS

[PsychoticBoy]

Dear Investors,

I hereby introduce you to the world's first 100Mh/s perpetual mining bond.

What I have to offer:

Perpetual mining bonds, 100Mh/s each.
Payouts at least 100% PPS, and once a week on Wednesdays.
This bond will never expire, perpetual.
I reserve the option to buyback the bonds at 1.05 times the highest traded price over the last 15 days.

Currently there are 150 bonds for sale (15Gh/s), this amount will increase over time.
Bonds can be bought at BitFunder: https://bitfunder.com/asset/PAMB


If there are any questions, don't hesitate and send me a PM or reply in this thread.



Kind regards,
PsychoticBoy

[abuelau]

1.3 btc for 100mh/s? Did I get this right?

[davecoin]

Seems fair compared to ASICMINER's ~60mh/s for 2.53 BTC (Assuming 24TH/s, excluding hardware sales).

Good luck with your venture.

[ThickAsThieves]

Seems fair compared to ASICMINER's ~60mh/s for 2.53 BTC (Assuming 24TH/s, excluding hardware sales).

A USBminer will mine 330mhs for 2btc.

[PsychoticBoy]

1.3 btc for 100mh/s? Did I get this right?

Yes

Seems fair compared to ASICMINER's ~60mh/s for 2.53 BTC (Assuming 24TH/s, excluding hardware sales).

Good luck with your venture.

Thanks for the support

[🏰 TradeFortress 🏰]

I'm pretty sure we are talking about shares.

http://polimedia.us/trilema/2012/the-problem-with-pmbs-ie-perpetual-mining-bonds/

[PsychoticBoy]

Seems fair compared to ASICMINER's ~60mh/s for 2.53 BTC (Assuming 24TH/s, excluding hardware sales).

A USBminer will mine 330mhs for 2btc.

True, but you have to pay customs, pay electricity, run the mining hardware, deal with hardware issues ea broken hardware, stress, waiting for hardware to arive etc.


This is worry free mining

[btcash]

What hardware are you using?

[🏰 TradeFortress 🏰]

That wouldn't really be worth anything when ASICs get dumped and dumped on the market and the network difficulty is 1000* from now.

When GPUs started mining, the network hashrate went from ~300 to ~3000 in months. It went to ~55,000 in another 4 months. The current network difficulty, is 12,153,411.

If you think the network difficulty will not be counted in billions in maybe eight months or so..

[🏰 TradeFortress 🏰]

What hardware are you using?

This doesn't matter, it would be quite smart for PsychoticBoy to not have any hardware backing it and instead just pay out dividends based on the network difficulty, because he will pay out less in dividends than he sells the bond for. Buyback when the share trades at satoshis, profit

[PsychoticBoy]

What hardware are you using?

My FPGA farm will back up this asset, Total over 15Gh/s atm.

[PsychoticBoy]

What hardware are you using?

This doesn't matter, it would be quite smart for PsychoticBoy to not have any hardware backing it and instead just pay out dividends based on the network difficulty, because he will pay out less in dividends than he sells the bond for. Buyback when the share trades at satoshis, profit

Creating an asset like this would require hardware, otherwise you are a fraud and selling stuff you do not really own.
That is not how I run my business.

[🏰 TradeFortress 🏰]

You're just selling a PMB , not stake in a mining company, so not having any mining hardware isn't fraud.

It's just another way of wording a difficulty future.

[PsychoticBoy]

You're just selling a PMB , not stake in a mining company, so not having any mining hardware isn't fraud.

It's just another way of wording a difficulty future.

Selling output of something you do not own is a legal way of doing business??
Strange.
Example: I promise you the profit of my bread sales, but I do not have a bakery.
How can I pay you my bread sales income when I do not own/make any bread?
Sounds very shady.

Either way, that is not how I work.

[🏰 TradeFortress 🏰]

You are not promising the profits of bread here or profits of miners here, you are promising the mining proceeds of 100 MH/s. Like gigavps's new offering, friedcat's MOORE, etc. They might have actual hardware behind them, they might not, it doesn't matter, we're not talking about hardware, we are talking about equations. Network hashrate / offered hashrate.

For a company like bASIC-MINING, it would be fraud to not actually have the hardware yet claim you have. But that is because you are buying into a mining company.

This is comparable to a dividend swap, and is just another way of wording a difficulty future. You do not need to own the underlying assets to offer, and it would not be fraud.

I am not doubting you have the hardware

[btharper]

You are not promising the profits of bread here or profits of miners here, you are promising the mining proceeds of 100 MH/s. Like gigavps's new offering, friedcat's MOORE, etc. They might have actual hardware behind them, they might not, it doesn't matter, we're not talking about hardware, we are talking about equations. Network hashrate / offered hashrate.

For a company like bASIC-MINING, it would be fraud to not actually have the hardware yet claim you have. But that is because you are buying into a mining company.

This is comparable to a dividend swap, and is just another way of wording a difficulty future. You do not need to own the underlying assets to offer, and it would not be fraud.

I am not doubting you have the hardware

+1 to the explanation.
This offer is ONLY for the amount of output that 100MH/s would produce. NOT for the hardware backing it or the output of owned hardware. As long as you pay out based on what 100MH/s would earn it's on the up and up, that's why there's no subtraction for operating costs either, the coin based returns are being sold, not 100MH/s of hardware.

[PsychoticBoy]

Dear Investors,

PAMB paid their first weekly dividend on BitFunder.

4.34495250 BTC paid over 150 shares.
Payment a share 0.02896635 BTC.

Difficulty is: 12153412

Kind regards,
PsychoticBoy

[ChronoX5]

Dear Investors,

PAMB paid their first weekly dividend on BitFunder.

4.34495250 BTC paid over 150 shares.
Payment a share 0.02896635 BTC.

Difficulty is: 12153412

Kind regards,
PsychoticBoy

I have a feeling that the shares will be gone quite quickly once people see how nice the dividend currently is.

[VJain]

Based on my calculations, it would take at least 300 days to break even. Not bad, but I think with the oncoming ASIC apocalypse it wouldn't be a good investment. Feel free to convince me otherwise . This is with a profitability decline of 0.6 on http://www.bitcoinx.com/profit/. At 0.3 it's 500 days~.

[davecoin]

PsychoticBoy,

Are you using the btc generated from selling bonds in order to purchase more mining equipment?  If so, what plans do you have for future growth?  Will you be issuing more bonds once more hardware is purchased?  What other incentive do you have for offering PMBs as opposed to just mining yourself?

Thanks,
Dave