1000 ghash BTC per day = 0.229 + 0.229 + 0.229 + 0.229 + 0.229 ....
http://dustcoin.com/miningI'm sure there are plenty of good lawyers who could help us recover some of that.
What would people say/do if it becomes known that the 1000 ghash has been online for some time now ?
Again you have trouble reading.
Here is the original post, let me highlight to you the sections.
We have acquired Bitcoin mining hardware of 1 TERA HASH ( 1,000 Giga Hash per second). This hardware is expected to go online sometime in January.
As incentive to mine ZenithCoin will will be distributing the proceeds of this mining operation to ZTC holders.
The distribution will begin when the hardware is online and will last 6 months. Distribution will be done at the end of every month.
At this time, there are 1,310,112 ZenithCoin (ZTC) that are outstanding. This increases over time at the rate of 24 coins every 2.5 minutes.
Here are some rough calculations as to how many BTC you shall receive per ZTC coin. These calculation will vary depending on difficulty at the time of mining.
The first month of January will be a partial month, so let us use a full month in February to make the calculations.
Assuming a difficulty of 300,000,000 for BTC in Feb. (current difficulty is 112,628,549 ).
A total of 1.67 BTC will be mined per day. For 28 days in February, that is 46.76 BTC.
Assume that there are 2 million ZTC by the end of February. The amount of BTC per ZTC that you will receive will be: 0.00002338 BTC. I have created a table so you can see how much you can make by holding ZTC:
1,000 ZTC - 0.02338 BTC or 2.9225 USD (at 125 USD / BTC )
10,000 ZTC - 0.2338 BTC or 29.225 USD
100,000 ZTC - 2.338 BTC or 292.25 USD
This is just for the month of February!!!
Owning ZTC gives you a share of the mining profits for the next 6 months!
Finally, a coin that pays yo back for holding it!!
More detailed rules will follow. If this program is successful, we can continue to add more hashing power as budget permits.
Note: There is no need to register - ZTC and BTC addresses are the same. All you need to do is export your ZTC address and import it into the BTC client. Only ZTC held at the end of every month will receive the BTC proceeds!
This promotion has been cancelled because the hardware manufacturer (Cointerra) is 2 month delayed in their shipment. Therefore making any mining 2 months from now highly unprofitable in terms of energy costs and equipment costs.
No January delivery, no hardware online, no proceeds.
I already offered you compensation for your existing ZTC coins. You did not take it.
That is the best I can do under the circumstances.
If you want more, then you will have to wait till ZTC is traded in an open exchange.
