Get BTC Mining Shares by... wait for it... mining ZTC

[solracx]

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.

[solracx]

Difficulty has increased by 10 fold since announcement 8 hours ago.

Best time to accumulate coins is when difficulty is low!

[Hydroponica]

So we don't even need to give you the ZTC? Just hold it, and recieve BTC? Like POS type deal?

[solracx]

So we don't even need to give you the ZTC? Just hold it, and recieve BTC? Like POS type deal?

Yes,  you hold the ZTC.   It is like a bond.  Holding it entitles you to a share of mining.

Yes, like PoS, however you get BTC instead.

[jdebunt]

well this sure sounds interesting

[solracx]

well this sure sounds interesting

Completely sound strategy too!

[albon]

so how do you import a zetacoin add to bitcoin wallet?

[whitepaint0909]

so how do you import a zetacoin add to bitcoin wallet?

I beleive he is talking about Zenithcoin, not Zetacoin.   But question still stands for me..

[TheFuneral]

Whens the hardware online?

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!

Could you explain how to do this? I've never done it before.

[Stinky_Pete]

BTC difficulty will be above 1,000,000,000 by February. How does this affect your calculations?

[solracx]

so how do you import a zetacoin add to bitcoin wallet?

You meant ZenithCoin ... use the importprivkey  https://en.bitcoin.it/wiki/How_to_import_private_keys

[solracx]

Whens the hardware online?

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!

Could you explain how to do this? I've never done it before.

on zenithcoin use dumpprivkey ...
on bitcoin use importprivkey

simple enough.

hardware is scheduled for january 2014

[solracx]

BTC difficulty will be above 1,000,000,000 by February. How does this affect your calculations?

I have only control of the GHs that I can deploy.   The actual difficulty in Feb. may vary.

[CryptoBullion]

this is freaking awesome!!!!   

love it, brilliant...

im now kicking myself in the ass for not having more ZTC 

props on a bad ass idea ....

for some really odd reason i feel compelled to mine this italy coin for the first couple of days after launch, after that.. ill be mining some ZTC 

[Hydroponica]

Wait, isn't this the coin, with the 50% tax, or some shit?

[exnom]

Wait, isn't this the coin, with the 50% tax, or some shit?

Yes.. If you dont understand the possible positive long term aspects of that fact i would like to point you in the direction on a random flavour of the day pump n dump coin.
These BTC mining shares will provide the best PoS ever so far in crypto history and also strenghten Zenithcoins foundation.
 

[solracx]

this is freaking awesome!!!!   

love it, brilliant...

im now kicking myself in the ass for not having more ZTC 

props on a bad ass idea ....

for some really odd reason i feel compelled to mine this italy coin for the first couple of days after launch, after that.. ill be mining some ZTC 

You probably don't want to wait,  the difficulty is inching up.

[solracx]

Wait, isn't this the coin, with the 50% tax, or some shit?

Yes.. If you dont understand the possible positive long term aspects of that fact i would like to point you in the direction on a random flavour of the day pump n dump coin.
These BTC mining shares will provide the best PoS ever so far in crypto history and also strenghten Zenithcoins foundation.
 

The miner centric pump and dump crowd just doesn't get it.

Too bad they are out of the action on this one.

Furthermore, there's no way they can retro-fit any of their pump-and-dump coins to create value like this.   

[exnom]

Friendly bump and also.. Guys & Gals come get your Zenithcoin at: http://hippie.hopto.org/   PPLNS pool.

[Hydroponica]

Wait, isn't this the coin, with the 50% tax, or some shit?

Yes.. If you dont understand the possible positive long term aspects of that fact i would like to point you in the direction on a random flavour of the day pump n dump coin.
These BTC mining shares will provide the best PoS ever so far in crypto history and also strenghten Zenithcoins foundation.
 

The miner centric pump and dump crowd just doesn't get it.

Too bad they are out of the action on this one.

Furthermore, there's no way they can retro-fit any of their pump-and-dump coins to create value like this.   

I understand that I can make more, mining straight BTC, and, you don't get half my mining efforts going into your wallet, to get dumped should this scam coin ever hit an exchange.