Now seeking investors for BitCorp Mining Company [Now pushing 40 GH/s!]

[buttcoin1]

That's a bit much do ya think?

How about start slow and just ask for pics of his bedroom where the gigantic mining farm is located? And maybe his parents power bill for last month?

[iamzill]

Please don't take this the wrong way, but someone can ask for 8 btc per share, convert that into USD, and put the USD into a bank account. At the current rate of bitcoin price drop he can afford to pay out 0.1 btc dividends indefinitely.

I'm not making accusations here. I'm saying that there's very little evidence to differentiate you from the above scheme. When you release your mining rig photos to potential investors they have no way to verify those photos except by posting them on this forum, so your photos will end going public regardless. So I would highly recommend that you post some photos of your mining rigs since it has the following benefits:
1. Everyone can verfiy that the photos are novel
2. Someone else can't claim the photos as their own
3. Build credibility

Please don't take this the wrong way, but That's great.  A truly brilliant observation.  You should probably be given a prize for your power of deductive reasoning. 

All joking aside....assuming the price of BTC will always go down is stunningly assinine (have you even been paying attention for more than 5 weeks, or are you a newcomer who assumes they know all?).  I would not base a business on that assumption, but if you want to, be my guest.  furthermore, I really could not care less about what the BTC/USD conversion rate is, as we are in the business of mining Bitcoin, Paying dividends in Bitcoin, and taking investment in Bitcoin.  We produce a very steady, very predictable stream of BTC per month, and tha has value to many people. 

In regards to the photos, we don't feel the need to disclose them simply because you feel entitled to throw accusations around.  We have a track record of being legitimate partners in mining contracts.  This can be verified here: https://bitcointalk.org/index.php?topic=41888.0 and here:  https://bitcointalk.org/index.php?topic=38904.0  Our reputation can also be looked into by talking with "payb.tc", "jduck1987", and "BitSense Informatics"

I'm just trying to help, if you don't want it then that's fine.

The other threads have 0 evidence that you actually have the machines. You could have simply rented the hashes from someone else. I have no interest in bothering other forum members because you refuse to provide evidence yourself. Do you expect every investor to hold a PM chat with those three guys?

If you make no assumptions about the BTC/USD conversion ratio, the scam will still work. Just pay the dividends from the original 8 BTC. You can do this for 6 years and the scammer can still make a profit.

I bet typing that reply took much longer than posting a photo.

[GimmeDemBitz]

How to start a bitcoin business:

1.  Put "CEO of XXXXX" in your sig.  (replace XXXX with something important-sounding)
2.  there is no 2.

[iamzill]

How to start a bitcoin business:

1.  Put "CEO of XXXXX" in your sig.  (replace XXXX with something important-sounding)
2.  there is no 2.

1.5 When someone wants some evidence before investing, make personal attacks against them and then accuse them of being a newbie.

[Brian DeLoach]

I'm sorry, but you have a stunning lack of maturity in your post history. I point out a few below. I'd ask everyone to look at these and ask whether they really want to do business with this type of person.

• I understand we all have to start somewhere, but this thread was a mere six weeks ago. You didn't even know how to use guiminer. I seriously doubt people would want to do business with an inexperienced beginner.
• This thread is hard to even look at. You completely fail to comprehend how someone can "possibly get 1500 MH/s for $1,000." You go on to attack anyone who shows you otherwise. You also fail to realize that you can mine off of 1x PCIe slots. Hey, I can build a 1600 Mh/s system for under $800, do you want to know my super secret newegg buying skillz?
• You are a little more blunt in this thread. A very quick "You sir, are an idiot." The hero member, Phinnaeus Gage, continues being reasonable to you and offer you advise, but you just shoot him down and be sarcastic. He even offers you a free customized leather wallet, only to be ignored by you. Bitcoin Express said it best, "OP couldn't even figure GUIMiner 6 weeks ago now he is leasing out Data Centers LOL." However, he is wrong. It was only a week prior that you didn't even know how to use guiminer before you started offering mining contracts and rig hosting.
• In this thread a senior member gave you very straightforward and honest advice. You then brutally attack him for it. Tasty Champa replies "dam man, I wasn't trying to be a dick. I was sincerely helping you." I actually felt sorry for the guy for the way you treated him.
• You seem to take advice very poorly. Another member again is just trying to help you out, and you come back with this sarcastic and immature response. Unbelievable.
• Even in this very thread, you show yourself acting like a child. iamzill posts legimate concerns, and you come back on the offensive, with personal insults and attacks. It is appalling behavior.

Ontop of your damning post history we also have these problems:

1) No photos at all
2) Your identity is anonymous
3) All we know of your location is Idaho.

Talk about a scam waiting to happen. I wouldn't go near this "company". I'd advise others not to do so as well. Don't bother attacking me, I already have you on ignore. Unblocked for now.

Alphy

[GimmeDemBitz]

• In this thread a senior member gave you very straightforward and honest advice. You then brutally attack him for it. Tasty Champa replies "dam man, I wasn't trying to be a dick. I was sincerely helping you." I actually felt sorry for the guy for the way you treated him.

So what you're saying is that it's a new FlipPro alt?

[yochdog]

That's a bit much do ya think?

How about start slow and just ask for pics of his bedroom where the gigantic mining farm is located? And maybe his parents power bill for last month?

Got feisty up in here didn't it?

No parents house here, guys.  I know you all like to project your own situation on everyone, but alas, tis not the case. 

I am 30, married, own my own home, and pay my power bill like a big boy.  Keep on trucking and you too may be able to have all this someday. 

[yochdog]

Ontop of your damning post history we also have these problems:

1) No photos at all
2) Your identity is anonymous
3) All we know of your location is Idaho.

Talk about a scam waiting to happen. I wouldn't go near this "company". I'd advise others not to do so as well. Don't bother attacking me, I already have you on ignore.

Alphy

I guess this is pointless since you ae ignoring me, but I will briefly respond.  I apologize for the somewhat coarse and sarcastic responses, but I felt that I was responding in kind.  Perhaps I was hasty.  Mea Culpa.

You act as if a person cannot learn a great deal in a small amount of time.  My first miner early this year ran at 15 MH/s.  I know run a network of 26 machines hashing at over 10,000 MH/s.  I learned from mistakes, picked up a lot of good advice, and now have one of the larger mining ops I have come across. 

I am not sure how not knowing as much 2 months ago as I do today disqualifies one from offering a professional service.  Seems somewhat arbitrary.  This is Bitcoin, not open heart surgery.  Let's face it, mining is fairly straightforward once you learn the ropes. 

Again, I apologize for the sarcasm and abruptness.....I felt much the the legitimate advice I was given was not so kindly given. 

 

[yochdog]

Please don't take this the wrong way, but someone can ask for 8 btc per share, convert that into USD, and put the USD into a bank account. At the current rate of bitcoin price drop he can afford to pay out 0.1 btc dividends indefinitely.

I'm not making accusations here. I'm saying that there's very little evidence to differentiate you from the above scheme. When you release your mining rig photos to potential investors they have no way to verify those photos except by posting them on this forum, so your photos will end going public regardless. So I would highly recommend that you post some photos of your mining rigs since it has the following benefits:
1. Everyone can verfiy that the photos are novel
2. Someone else can't claim the photos as their own
3. Build credibility

Please don't take this the wrong way, but That's great.  A truly brilliant observation.  You should probably be given a prize for your power of deductive reasoning. 

All joking aside....assuming the price of BTC will always go down is stunningly assinine (have you even been paying attention for more than 5 weeks, or are you a newcomer who assumes they know all?).  I would not base a business on that assumption, but if you want to, be my guest.  furthermore, I really could not care less about what the BTC/USD conversion rate is, as we are in the business of mining Bitcoin, Paying dividends in Bitcoin, and taking investment in Bitcoin.  We produce a very steady, very predictable stream of BTC per month, and tha has value to many people. 

In regards to the photos, we don't feel the need to disclose them simply because you feel entitled to throw accusations around.  We have a track record of being legitimate partners in mining contracts.  This can be verified here: https://bitcointalk.org/index.php?topic=41888.0 and here:  https://bitcointalk.org/index.php?topic=38904.0  Our reputation can also be looked into by talking with "payb.tc", "jduck1987", and "BitSense Informatics"

I'm just trying to help, if you don't want it then that's fine.

The other threads have 0 evidence that you actually have the machines. You could have simply rented the hashes from someone else. I have no interest in bothering other forum members because you refuse to provide evidence yourself. Do you expect every investor to hold a PM chat with those three guys?

If you make no assumptions about the BTC/USD conversion ratio, the scam will still work. Just pay the dividends from the original 8 BTC. You can do this for 6 years and the scammer can still make a profit.

I bet typing that reply took much longer than posting a photo.

Just out of curiosity, where would be the value in selling a contract to someone, then renting out the hash-rate from someone else?  How could you make that work?

My biggest problem is certain people on this forum will scream "scam" no matter what evidence is provided.  If I post pictures, they will say the pics are photoshoped.  If I post a read-out of our BTC prodution for the last 30 days, they will claim we made it in excel.  If I post the names of people we have been a great business partner too, they will claim we have multiple accounts.

Maybe I was a little harsh in my first response, I let my frustration come through. 

We are willing to provide evidence that we are legitimate, and would like your suggestions (we are re-considering posting pictures per you request).  We genuinely want this to work, and are being completely straight-forward.

The whole chicken and egg thing is killer.

[iamzill]

Just out of curiosity, where would be the value in selling a contract to someone, then renting out the hash-rate from someone else?  How could you make that work?

You claimed your credibility lies with your past history of offering mining contracts. I just pointed out that that "the ability of offer mining contracts" does not imply "owning mining equipment". If Alice wanted build credibility, she can just rent 9000 MH/s for 35BTC per week and then offer "mining contracts" for 32 BTC per week. It only costs Alice 3BTC per week to build credibility while appearing like she operates a huge mining farm. You have to understand that from my personal perspective there is 0 evidence to differentiate you from Alice so far. A simple set of pictures can change that.  

My biggest problem is certain people on this forum will scream "scam" no matter what evidence is provided.  If I post pictures, they will say the pics are photoshoped.  If I post a read-out of our BTC prodution for the last 30 days, they will claim we made it in excel.  If I post the names of people we have been a great business partner too, they will claim we have multiple accounts.

Maybe I was a little harsh in my first response, I let my frustration come through.  

We are willing to provide evidence that we are legitimate, and would like your suggestions (we are re-considering posting pictures per you request).  We genuinely want this to work, and are being completely straight-forward.

The whole chicken and egg thing is killer.

Yes, pictures can be photoshoped. But snapping pictures is cheap and easy, while photoshoping multiple megabyte sized photos are not. Yes, some people will scream "scam" no matter what. But if you post two dozen high resolution pictures of each of your locations, then anyone still screaming "scam" will just look like nut jobs.

[Brian DeLoach]

You'll need to post substantial proof within 24 hours if you want to build some credibility. We've been through this game before, and it's infuriating. Photos and video will help a lot. No excuses, no explanations, no delaying or putting off. Just link photos from imgur and a video from youtube. If you don't, you will lose all credibility instantly and you'll have zero chance building it back up. You'll never meet a more cautious, picky, skeptical, paranoid, risk-adverse group of people in your life. You'll have to lay down every card you got or just go away.

[payb.tc]

hi yochdog, you say you can do 15GH/s... is this in addition to the 10GH/s I have already contracted for september 27th through to october 27th?

[yochdog]

hi yochdog, you say you can do 15GH/s... is this in addition to the 10GH/s I have already contracted for september 27th through to october 27th?

No, I believe we can only go to 15 GH/s total.  Your contract is locked and ready.  Part of our ongoing operations discussed in our business plan.

[yochdog]

Just out of curiosity, where would be the value in selling a contract to someone, then renting out the hash-rate from someone else?  How could you make that work?

You claimed your credibility lies with your past history of offering mining contracts. I just pointed out that that "the ability of offer mining contracts" does not imply "owning mining equipment". If Alice wanted build credibility, she can just rent 9000 MH/s for 35BTC per week and then offer "mining contracts" for 32 BTC per week. It only costs Alice 3BTC per week to build credibility while appearing like she operates a huge mining farm. You have to understand that from my personal perspective there is 0 evidence to differentiate you from Alice so far. A simple set of pictures can change that.  

My biggest problem is certain people on this forum will scream "scam" no matter what evidence is provided.  If I post pictures, they will say the pics are photoshoped.  If I post a read-out of our BTC prodution for the last 30 days, they will claim we made it in excel.  If I post the names of people we have been a great business partner too, they will claim we have multiple accounts.

Maybe I was a little harsh in my first response, I let my frustration come through.  

We are willing to provide evidence that we are legitimate, and would like your suggestions (we are re-considering posting pictures per you request).  We genuinely want this to work, and are being completely straight-forward.

The whole chicken and egg thing is killer.

Yes, pictures can be photoshoped. But snapping pictures is cheap and easy, while photoshoping multiple megabyte sized photos are not. Yes, some people will scream "scam" no matter what. But if you post two dozen high resolution pictures of each of your locations, then anyone still screaming "scam" will just look like nut jobs.

Makes sense.  I was only looking at it from the perspective of a business....not just trying to build credibility. 

[yochdog]

You'll need to post substantial proof within 24 hours if you want to build some credibility. We've been through this game before, and it's infuriating. Photos and video will help a lot. No excuses, no explanations, no delaying or putting off. Just link photos from imgur and a video from youtube. If you don't, you will lose all credibility instantly and you'll have zero chance building it back up. You'll never meet a more cautious, picky, skeptical, paranoid, risk-adverse group of people in your life. You'll have to lay down every card you got or just go away.

Well that thread was interesting.  Wow.

Alright, I suppose we were a bit presumptuous in our approach.  We are going to take some time today and go around to our 3 locations and take some photos of the machines.

We will not be giving a video tour, of the place, but we will post some video of the miners hashing away.

[Fjordbit]

furthermore, I really could not care less about what the BTC/USD conversion rate is, as we are in the business of mining Bitcoin, Paying dividends in Bitcoin, and taking investment in Bitcoin.  We produce a very steady, very predictable stream of BTC per month, and tha has value to many people. 

You are running a bitcoin business and you don't care about BTC/USD? I'm sorry but you are drinking the kool-aid too deeply. It's an important factor in mining because your electricity and rent costs are tied up in this. It's also a leading indicator on difficulty, so it's kind of like saying you don't care about difficulty.

What is your stance on FPGA versus video cards?

[yochdog]

furthermore, I really could not care less about what the BTC/USD conversion rate is, as we are in the business of mining Bitcoin, Paying dividends in Bitcoin, and taking investment in Bitcoin.  We produce a very steady, very predictable stream of BTC per month, and tha has value to many people. 

You are running a bitcoin business and you don't care about BTC/USD? I'm sorry but you are drinking the kool-aid too deeply. It's an important factor in mining because your electricity and rent costs are tied up in this. It's also a leading indicator on difficulty, so it's kind of like saying you don't care about difficulty.

What is your stance on FPGA versus video cards?

We probably should have addressed this a little more directly in the business plan.  Our cost structure is very, very low.  As we own the two office locations already for other ventures, we do not charge ourselves "Rent".  As for electricity cost, only the residectial location has a meaningful amount of power expense.  The office buildings we are in have pooled utility expense, so our increase in cost is barely perceptible.  That is why the BTC/USD exchange rate does not matter that much to us....we really don't need to convert that much BTC to USD.   

Hope that helps. 

FPGA mining is a business risk that investors will have to weigh before deciding to invest.  We are aware of the threat, but are willing to continue mining despite the risk.

[yochdog]

You'll need to post substantial proof within 24 hours if you want to build some credibility. We've been through this game before, and it's infuriating. Photos and video will help a lot. No excuses, no explanations, no delaying or putting off. Just link photos from imgur and a video from youtube. If you don't, you will lose all credibility instantly and you'll have zero chance building it back up. You'll never meet a more cautious, picky, skeptical, paranoid, risk-adverse group of people in your life. You'll have to lay down every card you got or just go away.

This is going to have to be done in stages, until I get down to the offices later today.

Here are the empty boxes of a little less than half our GPU's:  https://i.imgur.com/1L8TJ.jpg

Here is a miner in a spare room: https://i.imgur.com/Zeu9Z.jpg

Here is the same miner with the side panel removed:  https://i.imgur.com/2jrAd.jpg

A picture of our 24 port switch and server chasis:  https://i.imgur.com/bMpXO.jpg

3 more mining rigs in home office:  https://i.imgur.com/qF72o.jpg

side panel removed on the miner on the left:  https://i.imgur.com/RJLR7.jpg

side panel removed on the miner on the right:  https://i.imgur.com/nZumT.jpg

The miner in the middle is identical to picture 3

a picture of a miner in the bedroom:  https://i.imgur.com/iYnXB.jpg

side panel removed on bedroom miner, with 5970 ready to go back in:  https://i.imgur.com/AAf66.jpg


That is a start, more to follow.

Forgot to post this one, a 6970 hashing away in our living room HTPC:  https://i.imgur.com/FLk4E.jpg

[iamzill]

You'll need to post substantial proof within 24 hours if you want to build some credibility. We've been through this game before, and it's infuriating. Photos and video will help a lot. No excuses, no explanations, no delaying or putting off. Just link photos from imgur and a video from youtube. If you don't, you will lose all credibility instantly and you'll have zero chance building it back up. You'll never meet a more cautious, picky, skeptical, paranoid, risk-adverse group of people in your life. You'll have to lay down every card you got or just go away.

This is going to have to be done in stages, until I get down to the offices later today.

Here are the empty boxes of a little less than half our GPU's:  https://i.imgur.com/1L8TJ.jpg

Here is a miner in a spare room: https://i.imgur.com/Zeu9Z.jpg

Here is the same miner with the side panel removed:  https://i.imgur.com/2jrAd.jpg

A picture of our 24 port switch and server chasis:  https://i.imgur.com/bMpXO.jpg

3 more mining rigs in home office:  https://i.imgur.com/qF72o.jpg

side panel removed on the miner on the left:  https://i.imgur.com/RJLR7.jpg

side panel removed on the miner on the right:  https://i.imgur.com/nZumT.jpg

The miner in the middle is identical to picture 3

a picture of a miner in the bedroom:  https://i.imgur.com/iYnXB.jpg

side panel removed on bedroom miner, with 5970 ready to go back in:  https://i.imgur.com/AAf66.jpg


That is a start, more to follow.

Forgot to post this one, a 6970 hashing away in our living room HTPC:  https://i.imgur.com/FLk4E.jpg

Very impressive.

You made an interesting choice going with dell boxes. That's different from most other farms out there. If you can get a large number of off lease/used dell machines then it's definitely more cost effective than open frame solutions.

[yochdog]

You'll need to post substantial proof within 24 hours if you want to build some credibility. We've been through this game before, and it's infuriating. Photos and video will help a lot. No excuses, no explanations, no delaying or putting off. Just link photos from imgur and a video from youtube. If you don't, you will lose all credibility instantly and you'll have zero chance building it back up. You'll never meet a more cautious, picky, skeptical, paranoid, risk-adverse group of people in your life. You'll have to lay down every card you got or just go away.

This is going to have to be done in stages, until I get down to the offices later today.

Here are the empty boxes of a little less than half our GPU's:  https://i.imgur.com/1L8TJ.jpg

Here is a miner in a spare room: https://i.imgur.com/Zeu9Z.jpg

Here is the same miner with the side panel removed:  https://i.imgur.com/2jrAd.jpg

A picture of our 24 port switch and server chasis:  https://i.imgur.com/bMpXO.jpg

3 more mining rigs in home office:  https://i.imgur.com/qF72o.jpg

side panel removed on the miner on the left:  https://i.imgur.com/RJLR7.jpg

side panel removed on the miner on the right:  https://i.imgur.com/nZumT.jpg

The miner in the middle is identical to picture 3

a picture of a miner in the bedroom:  https://i.imgur.com/iYnXB.jpg

side panel removed on bedroom miner, with 5970 ready to go back in:  https://i.imgur.com/AAf66.jpg


That is a start, more to follow.

Forgot to post this one, a 6970 hashing away in our living room HTPC:  https://i.imgur.com/FLk4E.jpg

Very impressive.

You made an interesting choice going with dell boxes. That's different from most other farms out there. If you can get a large number of off lease/used dell machines then it's definitely more cost effective than open frame solutions.

You hit it on the head in regards to the Dell boxes.  Believe it or not, all of the Dell machines were collecting dust in a back room.  It was a great way to start a farm.