SudoMine, LLC Distributed Computing Division (restructured)

[unmotivatedgenius]

We have since undergone a restructure. You can view the post here. https://bitcointalk.org/index.php?topic=304338.msg3750869#msg3750869


You can view the original release below. -- outdated

SudoMine, LLC

SudoMine, LLC is a new company that is selling mining shares.
We are looking at getting listed on BitFunder in the future, but for now I am offering the ability to order mining shares directly.

I have been managing a small group with my friends for over a year and now I have decided that I would like to operate on a bigger scale.

Instead of simply facilitating a group buy and then taking a percentage off the top I am instead offering you a direct purchase of bitcoin processing power.
Each mining share entitles you to the profits of a minimum of 100MH/s once our hardware has arrived. As more shares are sold we expect to be able to assign more hash-rate per share.
I know that I may seem a little late to the game, but it is because of this I am able to offer a lower price per share than I have seen elsewhere.

In the first batch we have about 33000 shares available with the prices as follows.

3000 @ 0.10 BTC - Early Bird at a discount.
10000 @ 0.12 BTC - Start of regular pricing scheme
10000 @ 0.14 BTC
10000 @ 0.16 BTC
Wave #2 when it seems right to. (Ideally right after first batch sells out)


Please note that currently each sale will be managed individually. If you would like to purchase with USD email me and I will see if we can work something out. USD is mainly for large investments.
Also note that full dividends will not be paid out until the hardware arrives.
There are currently no refund or buyback procedures in place, though I will transfer shares to different people in our records if requested.
All shares will be transferred to a BitFunder, or similar account once those mechanisms are in place.

For more information you can visit SudoMine.com. If you have any questions email mail.sudomine@gmail.com

[pedrog]

Is this a joke?

[twentyseventy]

So many questions.

1. When will your hardware be arriving and who is manufacturing it? Is it self-designed?
2. I can buy a 1MH/s PMB at .00017 (TAT.VM). At that rate, 100MH/s would be .017 - why would I pay you .1 for the same hashpower?
3. Why do you need to raise funds?

[🏰 TradeFortress 🏰]

Powered By Google Sites

[unmotivatedgenius]

Not a joke, think what you will.

1. Will be purchasing hardware from multiple vendors, namely Butterfly Labs and KnCMiner.
First BFL Monarch 600GH/s is being ordered and as stated by BFL will ship beginning of next year. Once more funds have been raised the plan is to purchase KNC Jupiters which are stated to arrive in November.

2. As far as I can see TAT.VM does not have any plans on raising the hash-rate per share. I would like for the mining shares I offer to keep their value and so as shares are sold more hash rate will be assigned to each share. Estimates have shown that we could reach 1GH per share. Also I am willing to deal in USD on a limited basis. Other than this it is up to you which way you wish to go.

3. I have to raise funds because I am not rich and can not fund this myself and neither do I wish to take out loans in the name of myself nor SudoMine.


And yes currently we are powered by Google Sites due to the speed at which things can be set up an organized.
It is not like this is hidden or anything.

[pedrog]

I'm speechless.

[Deprived]

You've been managing your group for a year.

Could you please impress us with proof of how massively you've grown your hashing power during that year - so investors can se how well you manage a mining operation.  As it's a group I assume you have proper records to share.

[unmotivatedgenius]

You've been managing your group for a year.

Could you please impress us with proof of how massively you've grown your hashing power during that year - so investors can se how well you manage a mining operation.  As it's a group I assume you have proper records to share.

Sorry, I thought that saying, "I have been managing a small group with my friends...", made it clear that the group I have been managing has been a small one and that it was a group of friends...
We have some paperwork but none that I have any right to show. Due to our limited funds we have had limited room for growth, I mainly have been handling the hardware in making sure that it continues hashing and have been maintaining open communication channels within our group.
If anything else is unclear let me know.

[Anotheranonlol]

non-starter

[MPOE-PR]

Sorry, I thought that saying, "I have been managing a small group with my friends...", made it clear that the group I have been managing has been a small one and that it was a group of friends...
We have some paperwork but none that I have any right to show. Due to our limited funds we have had limited room for growth, I mainly have been handling the hardware in making sure that it continues hashing and have been maintaining open communication channels within our group.

There's no "new company, profits once our hardware has arrived" and "small group with my friends, some paperwork that I have no right to show" in the same breath.

See here.

[twentyseventy]

Why wouldn't someone just buy directly from BFL, KnC, etc. themselves? All of the risk here is on the investors, correct?

[twentyseventy]

Why wouldn't someone just buy directly from BFL, KnC, etc. themselves? All of the risk here is on the investors, correct?

That's the point, shifting all the risk to the investors. Welcome to bitcoin mining IPOs.

I'm aware; I'm really just trying to pose these questions for the OP. It looks like he's genuinely trying to get a venture like this funded (not scamming) and I want him to learn why he won't get the funding that he wants. To paraphrase Deprived, if you're not bringing significant expertise or assets to the table, why would anyone invest?

[crumbs]

inb4 slogan contest:

SudoMine -- just like ActiveMiner, but less depressing.
SudoMine -- 'cos you missed out on Terrahash.
SudoMine -- Labcoin's lazy sister.

[internetguru]

How do we hold you accountable that you will do what you're claiming?

[unmotivatedgenius]

Why wouldn't someone just buy directly from BFL, KnC, etc. themselves? All of the risk here is on the investors, correct?

That's the point, shifting all the risk to the investors. Welcome to bitcoin mining IPOs.

I'm aware; I'm really just trying to pose these questions for the OP. It looks like he's genuinely trying to get a venture like this funded (not scamming) and I want him to learn why he won't get the funding that he wants. To paraphrase Deprived, if you're not bringing significant expertise or assets to the table, why would anyone invest?

Some people, many if not most, do not have the funds to purchase a large efficient mining hardware solution themselves. Those that can should be handling the hardware themselves. That provides both better returns as well as full control over everything.
Those who do not have the funds or simply do not have the drive or know-how to handle the hardware must turn to other solutions such as hosted mining, mining contracts or shares in mining companies. Any of these methods will cut into your personal profits, often significantly.

In the end it is up to those who wish to mine how they want to do it I am just offering up what I know I can handle. I want to offer mining shares that will, over time, maintain much of their original value and hopefully increase in value. I know that there are other people out there that probably have more experience than me, more assets and a greater community following. I am simply offering up another option to those who are interested. Everyone has to start somewhere. I have just chosen to take a bigger step than most people would I suppose.

As it says on the website one of my main goals is to spread the news and knowledge of Bitcoin throughout my local community. I could have chosen to keep SudoMine completely local. I decided though, that I wanted to offer this to anyone who is interested. If you would like to purchase mining shares then that is wonderful. If you have constructive comments for me to consider that is also wonderful.

All in all this is something I have considered for a while now and have made the plunge. For those of you (if any  ) that wish to join and help this get going faster, I thank you. For those of you that don't, that is your choice and I have no ill will towards you.

[EMIF]

ASICMINER got 200.000*0.1 = 20.000 BTC from IPO. In terms of USD of that time they got ~$240k. So you are requesting 4.500 BTC equivalent of $560k.

Please do some math and show some respect to your potential! investors.

Regards...

Edit: 45000 edited to 4500

[Rannasha]

You offer 100 MHash/s at a pricepoint that the ASICMiner USB Block Erupters are now selling for, with 330 MHash/s. Furthermore, BE's are actually shipping and you can have one in your mailbox within a week depending on where you buy from. While your plan involves buying hardware from a company that has yet to ship its first product (KnC) and a company that has a track record of being extremely late with shipping (BFL).

By the time the 100 MHash/s shares start paying out, difficulty will have at least doubled, but the increase will probably be much higher.

So you're already at least a factor 6 behind the least efficient (in BTC/Ghash/s) ASIC mining device.

[unmotivatedgenius]

SudoMine, LLC

Due to popular demand we have restructured, thereby lowering prices. Here is the summary.

Each share is currently $2 ~ BTC0.002

Each mining share entitles you to the profits of a minimum of 100MH/s once the hardware has arrived. As more shares are sold we expect to be able to assign more hash-rate per share.
Shares do not have any planned expiration date, we will run the hardware until it is no longer feasible.

Please note that dividends will not be paid out until the hardware arrives.
There are no refunds, though I will transfer shares to different addresses in our records if requested. (signed message etc)

For more information you can visit http://SudoMine.com

[MPOE-PR]

Due to popular demand we have restructured, thereby lowering prices.

The only popular demand is that you get lost.