ASICRIGS Loan

[rizzn]

I've finally decided to bite the bullet and get a mining rig. I've spoken directly with the company, and they've indicated that if I purchase now, I can expect delivery the first week of August. According to the profitability calculator, I should be able to repay the loan within 30-45 days in full.

I have, however, set the term of the loan to 365 days so as to allow for comfortable repayment of the loan should the device flat out not work. Assuming that the rig works as advertised, expect early repayment. If it doesn't, expect prompt payments on due dates.

https://btcjam.com/listings/5695

About Me: I run SiliconANGLE, an enterprise tech network that was one of the first to report on Bitcoin, and continues to cover the space (you can find some of my reports here: http://www.youtube.com/user/siliconangle/search?query=rizzn+bitcoin). I'm an active investor on BTC Jam (I've invested well over 20 BTC in three months), and I have no desire to ruin my good name on the site (plus, like any active investor there, I know what it's like to be burned and don't want to inflict it on others).

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[Vod]

I've finally decided to bite the bullet and get a mining rig. I've spoken directly with the company, and they've indicated that if I purchase now, I can expect delivery the first week of August. According to the profitability calculator, I should be able to repay the loan within 30-45 days in full.

I have, however, set the term of the loan to 365 days so as to allow for comfortable repayment of the loan should the device flat out not work. Assuming that the rig works as advertised, expect early repayment. If it doesn't, expect prompt payments on due dates.

https://btcjam.com/listings/5695

About Me: I run SiliconANGLE, an enterprise tech network that was one of the first to report on Bitcoin, and continues to cover the space (you can find some of my reports here: http://www.youtube.com/user/siliconangle/search?query=rizzn+bitcoin). I'm an active investor on BTC Jam (I've invested well over 20 BTC in three months), and I have no desire to ruin my good name on the site (plus, like any active investor there, I know what it's like to be burned and don't want to inflict it on others).

How much does the mining rig cost? 

[Damnsammit]

Don't do it!  That site looks like a complete scam.  Their pictures are pretty much the exact same as Butterfly Labs sans the pretty little butterfly logo.

If you want an ASIC rig, the best way would be to get one on this forum through a trusted escrow like John K.

Edit:  see this thread https://bitcointalk.org/index.php?topic=199259.0

[rizzn]

http://www.asicrigs.com/

I'm getting the cheapest one. I've overpriced the loan in case it only hits the 70% funding point I can still grab the order.

I've finally decided to bite the bullet and get a mining rig. I've spoken directly with the company, and they've indicated that if I purchase now, I can expect delivery the first week of August. According to the profitability calculator, I should be able to repay the loan within 30-45 days in full.

I have, however, set the term of the loan to 365 days so as to allow for comfortable repayment of the loan should the device flat out not work. Assuming that the rig works as advertised, expect early repayment. If it doesn't, expect prompt payments on due dates.

https://btcjam.com/listings/5695

About Me: I run SiliconANGLE, an enterprise tech network that was one of the first to report on Bitcoin, and continues to cover the space (you can find some of my reports here: http://www.youtube.com/user/siliconangle/search?query=rizzn+bitcoin). I'm an active investor on BTC Jam (I've invested well over 20 BTC in three months), and I have no desire to ruin my good name on the site (plus, like any active investor there, I know what it's like to be burned and don't want to inflict it on others).

How much does the mining rig cost? 

[Vod]

http://www.asicrigs.com/

I'm getting the cheapest one. I've overpriced the loan in case it only hits the 70% funding point I can still grab the order.

Ah, so you want the lenders to finance 100% of the rig, so you have zero risk but make all the profit.

[rizzn]

http://www.asicrigs.com/

I'm getting the cheapest one. I've overpriced the loan in case it only hits the 70% funding point I can still grab the order.

Ah, so you want the lenders to finance 100% of the rig, so you have zero risk but make all the profit.

It's a loan, not an investment. If you're not comfortable with the terms of the loan, please don't invest.

If you're comfortable lending some money to a guy with a great track record on a P2P lending site, then please do.

This is a lending forum and we're discussing a lending site. Sounds like what you're discussing is mining contracts. There's a separate section of the forum for that.

[Vod]

It's a loan, not an investment. If you're not comfortable with the terms of the loan, please don't invest.

If you're comfortable lending some money to a guy with a great track record on a P2P lending site, then please do.

This is a lending forum and we're discussing a lending site. Sounds like what you're discussing is mining contracts. There's a separate section of the forum for that.

No, what I am discussing is you asking strangers to pay for your mining rig.  Why not have a bit of pride and pay for a portion of it yourself?

You don't have a good record on BTCJam - you have a number of small loans you think will give you a much much bigger one.  Scammers do it all the time.  Probably why you haven't verified your credit rating on there.   

[rizzn]

It's a loan, not an investment. If you're not comfortable with the terms of the loan, please don't invest.

If you're comfortable lending some money to a guy with a great track record on a P2P lending site, then please do.

This is a lending forum and we're discussing a lending site. Sounds like what you're discussing is mining contracts. There's a separate section of the forum for that.

No, what I am discussing is you asking strangers to pay for your mining rig.  Why not have a bit of pride and pay for a portion of it yourself?

You don't have a good record on BTCJam - you have a number of small loans you think will give you a much much bigger one.  Scammers do it all the time.  Probably why you haven't verified your credit rating on there.   

Get bent, chief. If you went through the effort to look at my profile on BTCJam, you would have also seen my extensive investment track record. If you bothered to click on any of the other links I provided or just, I don't know, even google me, you would have found a pretty wide track path I cut across the web.

I'm not a scammer. Why are you so hostile? This has nothing to do with pride. Yes, I'm asking strangers to fund a loan on a crowd-funding website. That's sort of the point of BTCjam, in case you didn't catch that, genius. If I had the disposable income to buy it in a fell swoop without getting a loan, that's what I'd do.

[Vod]

It's a loan, not an investment. If you're not comfortable with the terms of the loan, please don't invest.

If you're comfortable lending some money to a guy with a great track record on a P2P lending site, then please do.

This is a lending forum and we're discussing a lending site. Sounds like what you're discussing is mining contracts. There's a separate section of the forum for that.

No, what I am discussing is you asking strangers to pay for your mining rig.  Why not have a bit of pride and pay for a portion of it yourself?

You don't have a good record on BTCJam - you have a number of small loans you think will give you a much much bigger one.  Scammers do it all the time.  Probably why you haven't verified your credit rating on there.   

Get bent, chief. If you went through the effort to look at my profile on BTCJam, you would have also seen my extensive investment track record. If you bothered to click on any of the other links I provided or just, I don't know, even google me, you would have found a pretty wide track path I cut across the web.

I'm not a scammer. Why are you so hostile? This has nothing to do with pride. Yes, I'm asking strangers to fund a loan on a crowd-funding website. That's sort of the point of BTCjam, in case you didn't catch that, genius. If I had the disposable income to buy it in a fell swoop without getting a loan, that's what I'd do.

Thank you for the compliment.  My intelligence is important to me!  I'm sorry that you aren't bright enough to realize btcjam doesn't have to be all or nothing... you could have saved up a portion of the funds needed and then asked for the rest.

Here's what is going to happen.  You've made several loan requests for small "reputation" amounts, slowly getting larger.  But you jumped too much this time, it scared investors, and your loan will probably not fund.  Soon after it doesn't fund, you will create another loan request for a smaller amount.  You will work your way up until you can scam as much as possible.  I've seen it many times by people whose identity is well known.

This is textbook, and not worth any more of my time.  Just remember my prediction!   

[Teka]

I personally don't think that you're a scammer but in all honesty it's stupid for somebody to give you 100% of the money to buy an asic. Put yourself in the shoes of the lender, they either give you the money an make some interest back or they buy it themselves and get all of the profit from the ASIC. Either way its a massive  gamble on both sides because on one side you could turn out to be a scammer and one the other side the asic might never pay back for it self.

[rizzn]

Thank you for the compliment.  My intelligence is important to me!  I'm sorry that you aren't bright enough to realize btcjam doesn't have to be all or nothing... you could have saved up a portion of the funds needed and then asked for the rest.

Here's what is going to happen.  You've made several loan requests for small "reputation" amounts, slowly getting larger.  But you jumped too much this time, it scared investors, and your loan will probably not fund.  Soon after it doesn't fund, you will create another loan request for a smaller amount.  You will work your way up until you can scam as much as possible.  I've seen it many times by people whose identity is well known.

This is textbook, and not worth any more of my time.  Just remember my prediction!    

How exactly do you expect this to end? You expect me to just let you libel me and be OK with it?

You're a nobody. Your big claim to fame in life is that you virtually live on an internet forum. I'm successful and well known in my field.

My life won't end if I don't get this loan. I'd like to get this loan, because I'd like to get an ASIC miner. But I have a great job, I make plenty of money, have a great family, and love my work. My life will go on without an ASIC miner.

On the other hand, your life has treated you so badly that the best way you can think of to spend your time is engage in unprovoked attacks on strangers in a public forum about Bitcoins. If you don't feel like you win this argument, it'll keep you up at night.

Bravo. Sounds like your life rules.

[Vod]

How exactly do you expect this to end? You expect me to just let you libel me and be OK with it?

You're a nobody. Your big claim to fame in life is that you virtually live on an internet forum. I'm successful and well known in my field.

My life won't end if I don't get this loan. I'd like to get this loan, because I'd like to get an ASIC miner. But I have a great job, I make plenty of money, have a great family, and love my work. My life will go on without an ASIC miner.

On the other hand, your life has treated you so badly that the best way you can think of to spend your time is engage in unprovoked attacks on strangers in a public forum about Bitcoins. If you don't feel like you win this argument, it'll keep you up at night.

Bravo. Sounds like your life rules.

Hmmm, from my point of view you're a nobody.  I'm also very successful in my field, have work I love and am well known.  BUT, I'm also intelligent, as you noticed.  Another difference between us is I don't need to beg for money from strangers because my family won't help me.  

[rizzn]

Hmmm, from my point of view you're a nobody.  I'm also very successful in my field, have work I love and am well known.  BUT, I'm also intelligent, as you noticed.  Another difference between us is I don't need to beg for money from strangers because my family won't help me.  

Yes - you're very successful in the world of trolling the Bitcoin lending boards (I stopped clicking through your history after the fourth page of insults to random board participants).

Your mother must be so proud of that (and when you beg her for money).

[rizzn]

I personally don't think that you're a scammer but in all honesty it's stupid for somebody to give you 100% of the money to buy an asic. Put yourself in the shoes of the lender, they either give you the money an make some interest back or they buy it themselves and get all of the profit from the ASIC. Either way its a massive  gamble on both sides because on one side you could turn out to be a scammer and one the other side the asic might never pay back for it self.

I understand what you're saying.

BTC jam, if you're unfamiliar with the site, is a crowd funding site. I'm not asking for one person to front 100% of the coin, but several people to chip in.

I've around 13-14 coins invested in the site right now (obviously not liquid), so if were to default on the loan, I'd forfeit any future payments on my investments (presumably - I've never defaulted on a loan, but I'd assume that's how it works). It's not exactly a security in the traditional sense, but it does give me added incentive to repay the loan.