[CLOSED] Hosted-Mining (revenue shares) / BTCT.co

[superduh]

why does it matter where coinlab is?
coinlab afaik is not the parent company and just some "advisors" if that
why not just pay aladyin directly if they are located and hosting in Or

[1714884278]

1714884278

[1714884278]

1714884278

[zif33rs]

why does it matter where coinlab is?
coinlab afaik is not the parent company and just some "advisors" if that
why not just pay aladyin directly if they are located and hosting in Or

I have a 1-888 number...and I have a NDA in my hand right now along with the actual contract for these miners. I would be happy to fax the NDA to you and have you sign and get it notarized and fax it back to me. Then I would be free to give you the information you are looking for.


Look guys..all the pieces of this puzzle are right in front of you. I am not trying to conceal anything or mislead you. This is where the term Due Diligence comes into play. I am under contractual obligation NOT to reveal to much until the sale is completed.

[KCBitcoin]

Thanks...thats solid advice. I appreciate that.

Having a broader set of protocols for operation will enable a quicker reaction to market conditions.


What I feel is the best scenario is basically this. The fund will make a weekly decision on the reinvestment and revenue amount paid to dividends.

Still, i don't understand why you care about those couple of hundred coins if you have over 100K coins in hand. You even want to adjust your revenue amount paid to dividend weekly?
You are a revenue-sharing company, you know this will make ur share price extremely volatile.
This doesn't sound well planned to me at all.

[klee]

So would you mind telling me why I should invest in you rather than IceDrill or Labcoin?

[Sou]

So would you mind telling me why I should invest in you rather than IceDrill or Labcoin?

At the currant evaluation Hosted-Mining has a greater market cap than both IceDrill and Labcoin combined...by over 43,000 BTC. So, i guess that means they should have more hash power then IceDrill and Labcoin combined...plus 43,000 BTC. With that 43k BTC would could actually afford like two more Labcoins.

Hosted Mining = 1IceDrill + 3Labcoins + 10,000 BTC.

Anyone know how much hash power that is?

[zif33rs]

So would you mind telling me why I should invest in you rather than IceDrill or Labcoin?

1. Because I have an actual roll out date and contract in hand to put miners to work faster than anyone else.

2. Because I have the infrastructure in place to do this right now. The Plan, the financial management team..the attorneys..the location to start hosting, ect.

3. Because I am firmly established in the community and located in the same state as the contract supplier. This provides outstanding stability, security and a unique opportunity to make a world class mining center in a location that is remarkably suited for something just like this.

4. Because I believe that I have the right moral character to take on the responsibility of such a large and long term project and do the right thing.

5. Because I believe in bitcoin and everything it stands for and want the opportunity to promote its usage to the public globally.

[klee]

So would you mind telling me why I should invest in you rather than IceDrill or Labcoin?

1. Because I have an actual roll out date and contract in hand to put miners to work faster than anyone else.

2. Because I have the infrastructure in place to do this right now. The Plan, the financial management team..the attorneys..the location to start hosting, ect.

3. Because I am firmly established in the community and located in the same state as the contract supplier. This provides outstanding stability, security and a unique opportunity to make a world class mining center in a location that is remarkably suited for something just like this.

4. Because I believe that I have the right moral character to take on the responsibility of such a large and long term project and do the right thing.

5. Because I believe in bitcoin and everything it stands for and want the opportunity to promote its usage to the public globally.

WTF I like your attitude and I like your avatar, I am in!!

[zif33rs]

WTF I like your attitude and I like your avatar, I am in!!

Thats a start. 



UPDATE: After careful review I have updated the terms of the offer at www.BTCT.co.


Introduction

HOSTED-MINING was created between one US and Canadian company to offer the very first GUARANTEE revenue-share HASHING date of August 30th, 2013 for investors with an easily accessible investment vehicle without the large upfront cost of actually buying the hardware, monitoring and paying for electricity.

There are 3 Phases for roll out of a minimum 10 terahash by August 30th, 2013 with a GUARANTEE of additional terahash if the roll out is not met by this date to compensate for the difference of hashrate for days missed. The more shares that are sold, the more terahash we can obtain for everyone.

1.) PHASE I - Initial Offering

Initially, we will release 250,000 shares out of 500,000. They will be price at 0.28 per share.

100% of the mining revenue will be delivered as dividends to these 250,000 shares in this Phase.

END OF PHASE I - HASHRATE: 10TH



2.) PHASE II - Second Batch Offering

This phase won't start until we have at least tripled our initial hashrate. Upon reaching this point, the rest of the 250,000 shares will be release to the market.

The expected hashrate increment by September 30th, 2013 will be around 25-80TH (i.e. total hasrate: 35-90TH). The batch two offering share price will scale with the hashrate we obtained at that point of time.

We will not retain any mining revenue until our company doubles our Phase II hashrate. i.e. 100% mining revenue will still be delivered as dividends to all 500,000 shares in Phase II.



END OF PHASE II - HASHRATE: 35-90TH



3.) PHASE III - Reinvestment Phase

This phase starts when we reach 70-180TH(depending on where we are at end of phase II). After this threshold, 50% percent of the mining revenue might be retained as growth fund.

The details for this phase will follow in the next few weeks. We estimate another 100-1000 terahash.


END OF PHASE III - HASHRATE: 135-1090TH

[damiano]

WTF I like your attitude and I like your avatar, I am in!!

Thats a start. 



UPDATE: After careful review I have updated the terms of the offer at www.BTCT.co.


Introduction

HOSTED-MINING was created between one US and Canadian company to offer the very first GUARANTEE revenue-share HASHING date of August 30th, 2013 for investors with an easily accessible investment vehicle without the large upfront cost of actually buying the hardware, monitoring and paying for electricity.

There are 3 Phases for roll out of a minimum 10 terahash by August 30th, 2013 with a GUARANTEE of additional terahash if the roll out is not met by this date to compensate for the difference of hashrate for days missed. The more shares that are sold, the more terahash we can obtain for everyone.

1.) PHASE I - Initial Offering

Initially, we will release 250,000 shares out of 500,000. They will be price at 0.28 per share.

100% of the mining revenue will be delivered as dividends to these 250,000 shares in this Phase.

END OF PHASE I - HASHRATE: 10TH



2.) PHASE II - Second Batch Offering

This phase won't start until we have at least tripled our initial hashrate. Upon reaching this point, the rest of the 250,000 shares will be release to the market.

The expected hashrate increment by September 30th, 2013 will be around 25-80TH (i.e. total hasrate: 35-90TH). The batch two offering share price will scale with the hashrate we obtained at that point of time.

We will not retain any mining revenue until our company doubles our Phase II hashrate. i.e. 100% mining revenue will still be delivered as dividends to all 500,000 shares in Phase II.



END OF PHASE II - HASHRATE: 35-90TH



3.) PHASE III - Reinvestment Phase

This phase starts when we reach 70-180TH(depending on where we are at end of phase II). After this threshold, 50% percent of the mining revenue might be retained as growth fund.

The details for this phase will follow in the next few weeks. We estimate another 100-1000 terahash.


END OF PHASE III - HASHRATE: 135-1090TH

The 2nd set of 250k will also be at 0.28BTC/share ?

[Sou]

Do you plan on making an announcement before dropping the 250k shares on the market in the 2nd phase? 

[zif33rs]

The 2nd set of 250k will also be at 0.28BTC/share ?

Do you plan on making an announcement before dropping the 250k shares on the market in the 2nd phase? 

There will be a release statement for the second phase.

[Deprived]

1.) PHASE I - Initial Offering

Initially, we will release 250,000 shares out of 500,000. They will be price at 0.28 per share.

100% of the mining revenue will be delivered as dividends to these 250,000 shares in this Phase.

END OF PHASE I - HASHRATE: 10TH

Is all of the funds raised raised from IPO being spent to buy mining?  Or is some being taken as management fee?

In places the contract reads as though investors are buying shares in a company, in other places as though they're buying some sort of PMB with reinvestment.

You're asking in phase 1 for 70K BTC and in return saying investors get 10TH.

What happens with the vast majority of that 70K BTC that isn't needed to buy 10TH?

The maths just don't seem to add up on this.

[KCBitcoin]

1.) PHASE I - Initial Offering

Initially, we will release 250,000 shares out of 500,000. They will be price at 0.28 per share.

100% of the mining revenue will be delivered as dividends to these 250,000 shares in this Phase.

END OF PHASE I - HASHRATE: 10TH

Is all of the funds raised raised from IPO being spent to buy mining?  Or is some being taken as management fee?

In places the contract reads as though investors are buying shares in a company, in other places as though they're buying some sort of PMB with reinvestment.

You're asking in phase 1 for 70K BTC and in return saying investors get 10TH.

What happens with the vast majority of that 70K BTC that isn't needed to buy 10TH?

The maths just don't seem to add up on this.

To triple their hashrate I guess? It says in the Phase II plan.

[Deprived]

1.) PHASE I - Initial Offering

Initially, we will release 250,000 shares out of 500,000. They will be price at 0.28 per share.

100% of the mining revenue will be delivered as dividends to these 250,000 shares in this Phase.

END OF PHASE I - HASHRATE: 10TH

Is all of the funds raised raised from IPO being spent to buy mining?  Or is some being taken as management fee?

In places the contract reads as though investors are buying shares in a company, in other places as though they're buying some sort of PMB with reinvestment.

You're asking in phase 1 for 70K BTC and in return saying investors get 10TH.

What happens with the vast majority of that 70K BTC that isn't needed to buy 10TH?

The maths just don't seem to add up on this.

To triple their hashrate I guess? It says in the Phase II plan.

Well it's confusing as it's not clear whether phases relate to roll-out phases or funding phases.

If they only have a contract for 10 TH then surely they should only be raising funds for 10 TH in the first phase.  There's way to much ambiguity in the contract as well as weasel words like "a minimum of 1-10 TH" - which means what?  A minimum of 1 TH or a minimum of 10 TH?  A minimum should never be a range.  Do the suppliers only have to provide 1 TH not to need to provide compensation?

What happens if they don't sell enough shares on time - is the IPO cancelled and funds repaid?

If the extra cash is for expansion then do they have guaranteed commitments for delivery dates of the rest?  If not, and they fail to obtain such contracts, will those portion of funds be returned to investors?

Why are shares being used to represent management fees?  Management fees should be taken from profit (ideally) or revenue - not by being handed equity ownership from the start.  What happens if the fund has to refund capital due to closure or inability to deploy extra capital - would those refunds be shared across the management shares as well?  If management were to change how can than be accomodated when there's no provision for management fees?

etc.

It just seems a hastily cobbled together aggregate of all the bad bits from various other companies - operated on the assumption that noone will mind giving away 10% of their investment in return for someone running a pass-through to someone else actually operating a mining investment.  And the free shares model IS giving away capital not a portion of earnings.

[Deprived]

1.) PHASE I - Initial Offering

Initially, we will release 250,000 shares out of 500,000. They will be price at 0.28 per share.

100% of the mining revenue will be delivered as dividends to these 250,000 shares in this Phase.

END OF PHASE I - HASHRATE: 10TH

Is all of the funds raised raised from IPO being spent to buy mining?  Or is some being taken as management fee?

In places the contract reads as though investors are buying shares in a company, in other places as though they're buying some sort of PMB with reinvestment.

You're asking in phase 1 for 70K BTC and in return saying investors get 10TH.

What happens with the vast majority of that 70K BTC that isn't needed to buy 10TH?

The maths just don't seem to add up on this.

To triple their hashrate I guess? It says in the Phase II plan.

Just to explain to you how the math doesn't add up.

Alydian charge $650k (about 6.5K BTC) for 10 TH with all expenses paid for 1 year.

So 70K BTC would buy over 100 TH.

Yet their plan doesn't anywhere suggest that much being deployed before they need to ask for more funds.  Why would they need more funds if they'd only deployed 10TH or 30TH and still had most of the 1st-phase IPO funds left?

Even if they don't plan on pocketting some of the IPO cash, their plan still ends up with most of it sitting around unused for months AND them trying to raise more before before they've even used the initial batch.

At best it's just someone trying profit from the gravy-train that is exploiting investors with a half-baked plan.  At worst it's a scam attempt that's not even very well disguised.

[Sou]

Alydian charge $650k (about 6.5K BTC) for 10 TH with all expenses paid for 1 year.

So 70K BTC would buy over 100 TH.

Yet their plan doesn't anywhere suggest that much being deployed before they need to ask for more funds.  Why would they need more funds if they'd only deployed 10TH or 30TH and still had most of the 1st-phase IPO funds left?

+1

[zif33rs]

Just to explain to you how the math doesn't add up.

Alydian charge $650k (about 6.5K BTC) for 10 TH with all expenses paid for 1 year.

So 70K BTC would buy over 100 TH.

Yet their plan doesn't anywhere suggest that much being deployed before they need to ask for more funds.  Why would they need more funds if they'd only deployed 10TH or 30TH and still had most of the 1st-phase IPO funds left?

Even if they don't plan on pocketting some of the IPO cash, their plan still ends up with most of it sitting around unused for months AND them trying to raise more before before they've even used the initial batch.

At best it's just someone trying profit from the gravy-train that is exploiting investors with a half-baked plan.  At worst it's a scam attempt that's not even very well disguised.

You have explained nothing. You did not even bother to read the through the offer and understand it.

[BitThink]

Spending $650000 to buy 10Th/s cannot break even with the current difficulty increasing rate, even the electricity and maintaining is free. Have you realized it?

With current difficulty, even assume it increases 25% every 12 days. That is the value decrese 20% every 12 days. To compensate it, the mining income in 12 days should be at least 1/5 of its total value. therefore, the value of 1G is 5 * daily mining income * 12 = 60 * 0.0098 = 0.588.

650000 / 10000  = $65/G = 0.65. Why do you launch a huge IPO based on a contract losing a lot of money?

[Deprived]

Spending $650000 to buy 10Th/s cannot break even with the current difficulty increasing rate, even the electricity and maintaining is free. Have you realized it?

With current difficulty, even assume it increases 25% every 12 days. The value of 1G is 5 * dividend/day * 12 = 60 * 0.0098 = 0.588.

650000 / 10000  = $65/G = 0.65. Why do you launch a huge IPO based on a contract losing a lot of money?

Because he didn't understand how to use the mining calculator.

Mining Hardware Data   Alydian ASIC
Mining Hardware:  Hash Rate: 5000000  MHash/s (5 terahash)
Number of units: 5
Investment: 232500

He entered details for FIVE units at 5 TH each and mistakenly assumed that was 5 TH not 25 TH.  Then wrote up an IPO based on accidentally looking at the returns from FIVE times as much hashing-power/$ as he'd actually get.

The whole IPO is based on inability to use a mining calculator correctly.

[Deprived]

Bitcoin Blockchain Data
Difficulty: 37392766.136475  
Diff. Increase per day: 1.3753  %
Block Reward:   BTC
Blockchain data provided by blockexplorer.com
 
Utilization
Planned time to mine:  12 Months
Utilization:  100 %
Mining Hardware Data   Alydian ASIC
Mining Hardware:  Hash Rate: 5000000  MHash/s (5 terahash)
Number of units: 5
Investment: 232500
Power Requirements:  0 W
Power Cost:  0 USD/kWh
Exchange Rate:   USD/BTC
Pool Fee:  ? %
Time to Delivery: 2 Weeks
Exchange rate (weighted 24h average) provided by bitcoincharts.com
$100.4
Estimated Mining Results
Initial Coins per Day:  65.90257387
Initial Income per Day: 6589.60  USD
Reduction per Week: 10.3  %
Break-even:  31.9 Days
... considering reduction: 41.9  Days
Income/planned time: 2196850.80  USD
... considering reduction: 269139.94  USD

Remember: "Prediction is difficult, especially about the future"

These are some basic ROI figures for 5 TERAHASH. Depending on the amount that is funded this could be double. What I want you all to understand is that the 1st months ROI are pretty dismal..due to the large required reinvestment program. This is a rapid ramp up program to stay within a certain percentage of total network strength for ...well...ever.
I have some truly innovative ideas about the future distribution of the internet that dovetail nicely with this whole idea.

After meeting the necessary startup goal for funds the 1st month, we will reinvest 70% of the revenue generated into more hashing power. This will continue for 2 to 3 months or until Hosted-Mining is holding approximately 10% of the network strength. We will continue to leverage the profits to maintain this strategic position.

Quoting the whole thing for posterity - so there's no denying later that the whole initial estimate was based on a typo.