[CLOSED-HASHING NOW]Doc's Instant Hash R1 - 0/18 shares available 0.1BTC=10GH/s

[drmadison]

UPDATES:
This is now live and hashing. We are sold out.

Adding some additional information based on questions...
This is going to run on hardware already in my possession (necessary since this starts hashing tomorrow) - hardware will be updated if/when possible to keep hosting fees down and lifetime of this up. When it's no longer possible to make money on this, the hardware gets sold and all shareholders get their share of the proceeds.

I'm currently looking into escrow options.

Lastly, just got an update from my hosting provider and the hosting fee has been dropped by 25% - any further savings I get in hosting costs will also be passed on to these rounds.

WHAT:
1 share is equivalent to approximately 10GH/s. Cost for each share is 0.1BTC

HOW:
Payment address is 1EWVBtteggv5qVM9vho3hGnMvnyRTXw9fV
Hashing is already live!
Following a purchase, post here with the transaction ID and the address you'd like to receive your payouts to.
Payouts will be made twice per month. There is a $150 MAX per payout hosting fee. Why do I say max? Because I'm negotiating power costs and there's a good chance that will actually be lower, especially as I add new rounds. Above the actual hosting cost, there is no maintenance fee. Why? Because I buy shares too! And in order for my shares to be worth anything, I need to keep things running!

When hosting fees can no longer be covered by mining, the hardware will be sold. Profits from the sale will be split between shareholders.
Shortly after mining begins (within the next week) a site will be up to monitor performance / see estimated payouts.

WHY:
Why such a small buy? Because I'm relatively new here. I've interacted with a small number of people but I'm not all that well known. I have some big plans for the future but unless I start small and prove I'm trustworthy those won't happen. After all, the whole point behind Bitcoin is that it's a trust-based system.

Any other questions?
Post below, or PM me. I'm on multiple times throughout the day.

[jungle_dave]

Before the trolls rip you a new one your plan sounds a bit vague.

Explain please.
What sort of equipment do you plan to use? Do you already have it or are you going to purchase something with the funds you raise? Do you offer escrow (as a newer member it would be a good idea to offer that).

You are a kind of new here so it would do you well to give people a bit of background on yourself, did your ever sell things on ebay with a good rep? Etc. Are you known on other forums?

You might be well meaning but nobody would know that unless you explain yourself better.
This place is full of scams so people are cautious.


   

[drmadison]

I appreciate the feedback.

Answers for (most of?) your questions:

1. This is going to run on equipment currently owned, and will be switching to newer hardware in the next month (most likely an Antminer or equivalent) to keep the hardware running longer. As I mentioned, hashing starts tomorrow, and when the hardware isn't able to continue paying the hosting costs, the proceeds from the sale of the hardware is split amongst shareholders.

2. I'm not too familiar with the escrow services available here but it's something I'll look into for this and future rounds.

3. I'm a full time software / network engineer, working in San Francisco. I've been professionally managing servers since 1999, and mining bitcoins since early 2013. In this case, my mining operation is completely accessible from anywhere I have my phone, down to being able to power down the power strip and power it back up for full system reboots.

4. I'm not an overly social person so not too well known on many forums, but I've dealt with a few people here - bought one of Cablez power cables for some Jalapeno's I had...which I later gave to lightfoot to help in his insane jally modding.
 
5. Not a ton of recent ebay activity, mainly selling spare hardware, but you can see my profile here:
http://feedback.ebay.com/ws/eBayISAPI.dll?ViewFeedback2&userid=bcsin2k&ftab=AllFeedback&items=25

Again, I appreciate the feedback - it all just helps things run more smoothly!
Any other questions, PLEASE feel free to ask!

[cannachris]

I would like to buy a share or two, escrow would be awesome though. If you want me to set up escrow I can do it on btcrow.com and I release the money after you pay out from the first payout of hashing which brings me to my main question; how often will there be payouts (and what pool are you using)? So if u get enough people yeah count me in for two shares just to help you get started and it's quite a good price/gh 

[spazzcat]

I like to take 1 share, and like the idea of doing an payment through btcrow.com. Let me know if you are ok with that.

edit: Looks like btcrow.com has min of .25. Let me think about this more...

[drmadison]

Looks like btcrow.com would only work for orders of 3 or more shares due to its own limits.
I haven't seen much in the way of options for escrow on smaller amounts like 0.1btc.

Anything else I can do to prove trustworthiness let me know, otherwise hashing still starts tomorrow

[spazzcat]

1 share
Tras: 964a9b5b197b11c36caaf9cf77522a380ad4cf4124ad044d8ff94caf7d55b3ab
payment address: 14VZ4EJ6UtGVQDHhBZsWeKy2NyLz7AWXVN

[drmadison]

Awesome, I'll get this payout address recorded when I get home in a few hours - and I'll make sure to post / PM when hashing starts (late tonight, or tomorrow morning at the latest)

[drmadison]

This is live and hashing as of this morning. Working on getting a site up to allow for monitoring of rounds is next on my list!

If you buys shares within the next 24 hours you'll still receive a full payout. After that this first payout will pro-rated.

[tempestb]

5 shares


Transaction ID:  c5406339242a6a4bbeb24db69218e94cd24723c6382bcebcf3ef3c4cff8dbb5a
Receive Address:  1ECRrxvWsyv7HkxbXi8HgNRqNAfcK2vWRv

[drmadison]

Got the tx and have your payout on the list!

[plnali]

Hi,
just for curiosity which miner hardware do you have?
just thinking about the electricity costs

[jungle_dave]

Glad to see this is working out for you!!
Ill be down for a few shares when I get my next mining payout.

[drmadison]

Hi,
just for curiosity which miner hardware do you have?
just thinking about the electricity costs

This is currently running on a combination of BFL and ASICMiner hardware.
I'm thinking after Chinese New Year they will be replaced by an Antminer S1 (same hash rate, lower power usage). If/when that happens, the hosting fees will be adjusted to account for lower electricity costs (though that's not the entirety of the hosting fee, it's definitely a significant part).

[drmadison]

Quick update:
Website to track this round and give estimated payouts should be up Monday!

[S4VV4S]

WHAT:
1 share is equivalent to approximately 10GH/s. Cost for each share is 0.1BTC

Sorry to ask this question but..... are you on drugs?

[zi0nman]

Hi, drmadison!
I'm interested in buying 9 of your shares, is that available?

[drmadison]

Am I on drugs? Not last I checked...why haha

[drmadison]

Hi, drmadison!
I'm interested in buying 9 of your shares, is that available?

Yes 9 shares are still available. I'm hopping on a plane I'll get everything updated when I land.

[zi0nman]

Hi, drmadison!
I'm interested in buying 9 of your shares, is that available?

Yes 9 shares are still available. I'm hopping on a plane I'll get everything updated when I land.

Okay, my coins ready for transfer.
Let me know, when you will be ready.