https://bitfunder.com/asset/ADDICTIONADDICTION MINING started as an independent group-buy for multiple KNC Jupiter mining rigs.
This asset is being listed for the following purposes:
1. To allow shareholders an easy way to trade their shares, before and after the KNC miners are delivered.
2. To simplify the administration of dividend payments.
3. To facilitate the purchase of additional mining equipment to expand the operation.
4. We have increased original forum share value from 1 to 100 ADDICTION shares. So for each original forum based share, you will be issued 100 ADDICTION shares.
Shares
This asset will begin with 148,800 issued shares. These shares represent the initial total
hashing power of ADDICTION MINING. This initial hashing power is provided by 12 KNC Jupiter
miners, providing a total estimated hashrate of 4,200 GH/s.
Dividends
Dividends are paid bi-weekly and are based on the total proceeds from the total hashrate of
ADDICTED minus the Expenses described below. Each dividend will be accompanied with a
detailed report of total mining rewards received in order to determine the hashing equivalent of
each share.
Expenses
The following expenses will be deducted before any dividend consideration:
1. The USD/BTC market difference at the time of purchase due to the fact that shares were purchased in BTC and miners were bought with USD
2. Power supplies needed for the miners
3. Shipping costs
4. Setup work to install the miners
5. Incidental repairs and replacement costs
6. Any applicable taxes, duties or other government fees
7. Hosting fees for the miners
8. Any unforeseen expenses to maintain efficient operation not exceeding 1BTC per month
Note: Any Expenses not mentioned above exceeding 0.5 BTC cannot be made without
consulting the shareholders. through a vote.
Hosting
Miners are hosted at a facility of ADDICTION MINING’s choice. Choice of facility will be based on
cost and convenience factors like network facilities, power facilities, air conditioning, location,
on-site support, etc.
Equipment Liquidation
Mining will continue until each miner is determined by the issuer as no longer profitable. At this
time, the equipment will be sold and any income from equipment sales will be distributed as a
dividend. Issuer may instigate a vote among shareholders to sell one or more miners at any
time if it is deemed to be in the shareholders’ best interests.
Delivery
Miners are expected to be received between September-October, 2013. If the manufacturer
does not deliver we will do everything in our power to refund your (and our own) investments
as bitcoin dividend. Reimbursement is not guaranteed in this situation and any loss caused by
non-delivery will be shared by all shareholders. ADDICTIVE is not responsible for any losses due
to non-delivery or late delivery.
Expansion
New shares may be issued at any time if ADDICTIVE MINING acquires additional mining
equipment at equal or greater value to current shares.
For example:Total hashing power of 144,800 shares, mining at approximately 4,200 GH/s, or
28.23MH/s per share. If we were to buy a new miner that delivers 200GH/s we can issue 7,084
new shares (200,000 / 28.23 ).
New shares will not be issued until the miner they represent is up-and-running. New shares will
be priced at the current average market price, but never below the actual cost of acquisition
and implementation. Once new shares are issued, any profits (difference between cost-price
and issued shares) will paid out as an incidental dividend to all shareholders.
Expanding with miners that are not directly deliverable (like KNC's) cannot be done without a
vote.
Links
Official Forum Thread (includes original terms and updates):
https://bitcointalk.org/index.php?topic=227400Contact Info
E-mail:
p2poolnl@gmail.comIRC/Chat: #p2poolnl on freenode
