Bitcoin investment [Please Read]

[DimensionsOfHell]

Hi everyone,

       First off, I just want to start by saying this is a great forum and seems to be a very involved and helpful community.
I wanted to run a business investment idea by you guys and see what kind of responses I get, I would greatly appreciate any and all feedback (positive or negative.)

I want to start an investment mining company. I currently have an order with KnCMiners for their 200GH/s miner, which is expected to be delivered sometime in October (I suspect late October for worst case scenarios, even though they say they are ahead of schedule for the first batch of Sept. deliveries). I want to sell 5Gh/s shares to investors for approximately $100 (Or BTC equivalent) a share. I will use the investing money to purchase a  400GH/s unit (or more units if I have enough investors); in total I would be hashing at 600+GH/s (the units are guaranteed to run at a minimum of 400GH/s for the 400GH/s unit, but is expected to be over 400GH/s, so basically your share would be worth more then 5GH/s a share.)

The shares will be for a year contract from the date of me receiving the units, and I chose one year because I don't expect any profit from this type of hardware after that point as 2nd and 3rd generation chips will be out by then. Screen shots of all payments to KnCMiner will be provided, along with a tracking number for the units so that everything is transparent and you cannot accuse me of receiving the unit and hashish away for myself for a week without anyone knowing.

In total, I will be offering 120 shares of [5Gh/s] with a 3% fee (separate from pool fee) to cover running costs (such as electricity bill, internet, a small website for regular updates, and time put into labor.) I would like a minimum of 60 Shares sold to risk covering the difference my self. The shares will have weekly payments to your wallet address (total Bitcoins will be split by 120 after subtracting 3% fee and paid by how many shares you own. I plan to own at least 40 shares.), and I will provide screenshots of weekly earnings, so you know I am not cheating you in anyway (as I've said, I want to be transparent with the business.)

I currently estimate Return On Investment to be approximately 3-4 months from the time I receive the unit(s) based on 200m Difficulty (it is currently at 37m as of this writing) and the value of Bitcoins holding at least around $100 per coin.

In regards to payments; I can only accept payments through BTC (no fee) or PayPal (may involve a small fee, I will check with Paypal) only.

Please let me know if you are interested (or if you have ideas to add on, or even criticisms), as I want to get this up and running as quickly as possible, and I don't want to fall further behind on the 400GH/s order, every single day means behind someone else in queue for the 400GH/s order. Final decision will be made by Aug 17th 12PM EST based of your feed backs if I will be venturing into this or not.


I know you guys must be thinking "Why would I trust you with my money?" As I've said, I want to be transparent with business, as soon as I have enough interest, I will set up a website that gives more personal information about me, including cell phone number so you can contact me directly. For now this is what you get;

Info about me:
My name is Asif (pronounced Ah-seef and not As-If)
I live in Miami, FL
I am 27 years old
I am currently attending college for a Computer Engineering degree


My current setup for mining:
2x MSI Radeon HD 7970 OC ($850)
1x MSI Radeon HD 7950  ($350)
1x Shapire Radeon HD 7870 OC ($280)
9x USB AsicMiner Block Erupters ($1100)
Total hashing power 5.1Gh/s

I currently have a BFL 5GH/s Jalepino on backorder (order date March 15th) which I expect to receive sometime in October or November if BFL doesn't slow down their shipping.
I have also ordered and paid for a KnCMiner Mercury (100GH/s), which I'm going to be upgrading (make the payment for the upgrade) to the Saturn (200GH/s) tomorrow so that I am guaranteed to have a minimum 200GH/s unit by end of October if things go as planned with KnCMiner.

I will do whatever I can to try and help you make your money back as quickly as possible; I plan to add the BFL 5GH/s unit, along with my 3GH/s USB Block Erupters (a total of 8GH/s) to the total pool (a month after I receive the BFL Jalepino to help cover its cost) for no additional cost to you to help cover some of the rise in difficulty ( I know its not a lot of hashing power over all, but something is better then nothing).

I currently have over $7,000 invested in bitcoin mining, and I don't take that lightly. I've put in all my savings into this, and I want to succeed in this venture, and I want to help you along the way for helping me.

Thank you very much for taking the time to read this, and thank you in advance for your considerations, interests, and criticisms.

-Asif

[mralbi]

well i assume the difficulty is going up too fast right now.. mining with newly ordered and not yet delivered  equipment (even asics) might not be profitable anymore in the future

[empoweoqwj]

sorry to say this, but you are living in a dream world. The days of the little guy making a profit using a hodge-podge of graphic cards, USB sticks and yet to be delivered ASICs are long gone. You won't make a profit, so there is no reason for anyone to take some of the risk out of this for you. Risk requires reward.

The mining world moves at a frightening pace. You would be better researching the top mining companies and buying some shares in one or more of those instead of trying to do it yourself.

I admire your "go for it" spirit but realistically you are 6 months to 10 months too late for this kind of small-time venture to attract any investors.

[jsjc]

I would definitely joined months ago in it but... as said by the previous two posts the world of mining is moving that fast that.... its going to be hard to make even a ROI...

[DimensionsOfHell]

Thank you guys very much for your input so far. I think there is still time to make some small profits, it won't be anything life altering, but I believe there is time for ROI as long as KnCMiner ships on schedule.
I have money already invested in it, so I will take the risk either way, but the way it would work is that in the first two weeks (approximately) would have the highest return rate based on the highest GH/s available to mine since the difficulty will be lower. 600GH/s would have a better ROI then a 200GH/s unit. In all honesty, I would like to set up a few TH/s units. That is why I was looking for investors. The higher the hash rating I can get in the beginning, the faster we can all have ROI.

[narayan]

1800-MY-SCAM

[DimensionsOfHell]

1800-MY-SCAM

I am fine with taking in creative criticism, but calling it a scam in uncalled for. I have been open about all my plans and ideas.

[dell123]

Personally I think you're just asking for trouble. Taking in other peoples money for shares in pre-orders to pay for more pre-orders. That's just a step too far. Wait until you have something, then put together a pitch. You have nothing, so you're offering a share in nothing with the promise you'll invest the money in more of nothing.

[ridnovir]

Personally I think you're just asking for trouble. Taking in other peoples money for shares in pre-orders to pay for more pre-orders. That's just a step too far. Wait until you have something, then put together a pitch. You have nothing, so you're offering a share in nothing with the promise you'll invest the money in more of nothing.

dito. listen to this man. because that is what you offer boils down to

[inspiredinvestor]

You don't want to be holding peoples money with no ASIC's equipment for too long.

I look at Red Mining on the
https://btct.co/security/RSM

and have been up since January 2013, and still haven't delivered on anything. He is good at letting the shareholders know where things are up to but you want to have a clear 30-90 plan of bringing in solid dividends and you don't want it to be relying on companies that might not have a delivery history.

I am not trying to turn you off just maybe look at it differently, at the moment you are exciteed about the launch but once it's out there, how do you want to control and maintain growth.

[DimensionsOfHell]

First of all, thank you guys very much for the feed back. I understand exactly what you guys are talking about. Like I said before, I am in it 100% one way or the other as I already have a lot of money invested in it. My main thing was that, the more hashing power you have in the beginning, the faster you get back to your initial investment due to the lower difficulty. That is why I wanted more investors, so that we all have a much better chance of getting back our investment within the first 3 months or so.

But in any case, thank you guys again for all the feed back, it is greatly appreciated.