BTC Investment Opportunity

[Smalleyster]

BTC Investment Opportunity

My name is David Smalley (smalleyster@gmail.com) and I am offering an investment opportunity in my Bitcoin Mining operation.

If you are interested in the BitCoin market this is a very straightforward and inexpensive way for you to test the market.

I am asking for investments in either USD or BitCoin. USD payments will be considered in BTC at the nearest MtGox price.

All accounting for investments and payouts will be done in BitCoins (BTC)

If you are interested details and explanations are in the following Google Spreadsheets:

https://spreadsheets.google.com/spreadsheet/pub?hl=en_US&hl=en_US&key=0AkBJ2-x_lf01dDE3WlJNWGF6Wi0zTVZMR3lXQURsaUE&output=html

https://spreadsheets.google.com/spreadsheet/pub?hl=en_US&hl=en_US&key=0AkBJ2-x_lf01dHg4b0tCTlFCQS13eXZ0ZS12bzBxdFE&output=html


Thank you for any and all consideration.

David smalley
Tallahassee Florida USA

[1714176638]

1714176638

[1714176638]

1714176638

[1714176638]

1714176638

[1714176638]

1714176638

[1714176638]

1714176638

[lemonginger]

You need to more specifically layout your assumptions about how many Ghash you will be able to build for every X dollars, why you have the technical expertise to run a small farm of computers, what your assumptions are about future difficulty increases, what your cooling costs are in a hot state, why you think mining at a cost of XX/kwh is going to be profitable when people can mine at YY/kwh etc etc etc.

[Smalleyster]

You need to more specifically layout your assumptions about how many Ghash you will be able to build for every X dollars, why you have the technical expertise to run a small farm of computers, what your assumptions are about future difficulty increases, what your cooling costs are in a hot state, why you think mining at a cost of XX/kwh is going to be profitable when people can mine at YY/kwh etc etc etc.

Very good points all. Thank you!

[Vod]

You need to more specifically layout your assumptions about how many Ghash you will be able to build for every X dollars, why you have the technical expertise to run a small farm of computers, what your assumptions are about future difficulty increases, what your cooling costs are in a hot state, why you think mining at a cost of XX/kwh is going to be profitable when people can mine at YY/kwh etc etc etc.

I've actually been thinking of renting out mining pools this winter, when temperatures in Canada can reach -40. 

[Smalleyster]

You need to more specifically layout your assumptions about how many Ghash you will be able to build for every X dollars, why you have the technical expertise to run a small farm of computers, what your assumptions are about future difficulty increases, what your cooling costs are in a hot state, why you think mining at a cost of XX/kwh is going to be profitable when people can mine at YY/kwh etc etc etc.

I've actually been thinking of renting out mining pools this winter, when temperatures in Canada can reach -40. 

Hell you can just rent the heater!

[dyngnosis]

I too live in Canada and will be using my rigs to heat the basement.

[alfred]

You could consider floating your investment on http://glbse.com - it gives you the mechanism to issue shares and reward your investors with dividends...

[Vod]

You could consider floating your investment on http://glbse.com - it gives you the mechanism to issue shares and reward your investors with dividends...

That program is still in beta.

[alfred]

True. I have just been playing with it and it seems to work. There are some recently listings too.

[Smalleyster]

You could consider floating your investment on http://glbse.com - it gives you the mechanism to issue shares and reward your investors with dividends...

I signed up for it, but at this point am too stupid to understand it or its creator(s).

Plus I am not looking to sell shares. Been there...much rather straightoward loans with simple repayment terms.

lemonginger is right, I need to get off my butt and "brag" about my KSA's, but its something I really dislike doing.

[mc_lovin]

I too live in Canada and will be using my rigs to heat the basement.

LOL I love computer heat! Living in Canada as well, I welcome the warmth the hashes provide!

[SHlFT]

i just love winter, my mining rig keep me warm and monet at the same time 

[Dargo]

Good luck with this venture! But personally I would think twice about your business model. I'm not sure it is a good idea to be offering a spreadsheet with profit calculations, since you will have a bunch of pissed off investors if whatever assumptions you are making don't work out. Instead, I would consider going with a service where people can buy or rent rigs from you, and also rent space + power from you. Then it is clear that they are taking the risk, and you aren't making any potentially false claims about ROI. And people need more info about what kind of rigs you can offer and what your facilities are like. For instance, how efficient are those cheap PSUs you talk about? If they are less than 80% efficient, probably not worth the $ savings up front. How many GPUs will fit on your motherboards? How will you handle faulty equipment? Will you offer some kind of guarantee, or will the replacement cost be the customers responsibility? Do you have a huge cool basement with a bunch of 30 amp circuits, or what? Also, what qualifications do you have to run hundreds of rigs at once? It is one thing to set up a few rigs and keep them going, but quite another to do this for hundreds.

[adraza]

I have some simple questions:

I will invest the minimum 16 BTC;

What will be the monthly gain ?
For how long?

I have read the spreadsheets; you must consider that I want my BTC back as soon as possible, so I choose the fastest variant of investment.

[Smalleyster]

I have some simple questions:

I will invest the minimum 16 BTC;

What will be the monthly gain ?
For how long?

I have read the spreadsheets; you must consider that I want my BTC back as soon as possible, so I choose the fastest variant of investment.

Thank you adraza for your interest.

16btc @$13.00 (which seems to be very close to all of the major exchanges right now) =$208

That would most likely allow me to purchase at best a new in box with warranty 5830 within the next few days.

A 5830 is listed by many seemingly reliable sources as capable of 244Mhs.

My test system (fairly modern Win 7 system) has an old Nvidia 8800 GTS that puts out a paltry 17.9mhs. which has generated just under .01btc/day using deepbit and a touch less when using slush's pool.

So assuming the 5830 puts out 244mhs, and the difficulty remains about the same, the system should generate about 0.12btc/day or about 3.74btc/month.

Whatever is left over for the price and shipping of the card will be returned ASAP as your first re-payment.

You are chosing the fastest repayment option of 70%, therefore I will make monthly payments of 1.83btc if difficulty remains the same until the principal is paid in full. 16/1.83= 8.74 therefore your principal should be paid off within about 9 months.

Once the principal is paid in full (change left over from card plus monthly payments) the following three months will be paid off at approximatley 0.79btc, 0.52btc and finally 0.26btc. I say approximatley because barring disaster I plan to pay you back the full total of 17.6btc (principal of 16btc + 1.6btc interest) so that you will have a minimum profit of 10% on your investment.

Please let me know if the above answers your questions to your satisfaction.

I humbly thank you again for your interest.

[Bitobsessed]

Would you be interested in taking GPUs as the investment?

[Smalleyster]

Would you be interested in taking GPUs as the investment?

Most definately! Two "hulks" are ready to go, others would have to be arranged without too much trouble.