Edit:
I am aware that ROI will not come from mining solely. I am not planning to sit by idly and wait for 350 day break even time. Let me make it clear, I am not buying BE's for the ROI solely. I will be supplementing loan repayment with my salary ( which in usd is about 1000 pm), seeking local investors and using returns on investments in bitcoin I have made. I am starting a tech company with a focus on bitcoin in part of the world that does not have immediate access to bitcoin mining technology so naturally some of the USB BE's I WILL take apart and see what comes of it. Please read post fully and carefully before commenting. Starting a mining rig by purchasing 20/30 block erupters for maximum .30 BTC or blade erupters if I can find trusted sellers who will accomodate the price and using the rest to get it shipped down to Namibia where I'm from and purchasing 2 anker hubs (if I go USB route).
Immediate small returns I will smartly invest using bitstamp, mtgox and low risk investment plans like flatbitcoin.com which I am already doing.
The core purpose of this first mining/investment run will be to repay the loan.
I have made one loan under a year ago of 5btc which I have repaid ( see
https://bitcointalk.org/index.php?topic=103557.msg1135399#msg1135399 ). My national ID details are attached to that post. I can provide further verification where needed.
Looking at my recent previous posts on the forum you will see I made a bad decision to try and buy blade erupters from
http://www.asic-technologies.com/ got scammed and lost the amount requested of my own money. I won't make such a mistake again.
I am fully committed to starting a bitcoin mining/investment/useable tech company for southern Africa. I can currently provide around 5% collateral in BTC. I am open to offer collateral in other forms if feasible. I currently own accounts at mtgox, pyramining and bitstamp that are of some small value. I currently mine with a radeon GPU doing 105mhs 24/7.
I am educated in IT. Studied MCSE/MCSD in '01, SuSE Linux Sys admin in '03 and an eSecurity diploma in Germany in '04.
I am self employed and have been for past seven years and am currently restructuring my company which has been based on providing audiovisual services for the last five years into a tech development company of which bitcoin mining/investing will be an integral part of. To a degree I still earn money providing audiovisual services as clientele is residual and they are impressed with my work. I have built a strong reputation with my business culminating in getting an artist from LA to come to Namibia to record his album, subsequently getting media and radio coverage in the US. This event was also covered by our best selling national newspaper ( see
https://soundcloud.com/becomingphill,
http://www.namibian.com.na/indexx.php?archive_id=103327&page_type=archive_story_detail&page=530 and
http://www.okayplayer.com/news/video-malkovich-what-i-know-feat-sum.html or Google malkovichmusic) This doesn't have much relevance to my mining/investing skills but I hope it goes to show that I am serious about what I say and do.
I do not have a concrete route for what the new company will be developing but I will be taking a cue from the innovation hub model and create and innovative space for tech oriented people to come up with good ideas. I believe bitcoin will be integral to the implementation of those ideas and can help cushion funding requirements in the future.
I am also seeking to become Namibia's first local reseller/purchaser for bitcoins preempting any potential investors who might want to invest over six months. I can safely say that I seem to be the only active Namibian member on bitcointalk which I think does give an advantage in terms of strategically placing myself.
I am willing to accept investor terms if they are reasonable.
Requesting a loan by no means was my first choice, but I recognize that time to enter the market is crucial.
You will need collateral.
