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Author Topic: [Pon3 Mining] Scrypt/BTC Hybrid Year Long Mining Operation IPO  (Read 9646 times)
cooldgamer
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February 10, 2014, 06:20:36 PM
Last edit: February 13, 2014, 10:00:30 PM by cooldgamer
 #1

Holy crap tl;dr version:
For sale, 200 shares in Pon3 Mining Op. 1 Share = 1 GH/s SHA + 10KH/S scrypt, bidding starts at 0.03 BTC. In the future these shares will represent more hashing power, as 20% of returns is reinvested into the op.  Mining ends March 4th, 2015, or 365 days after the last Antminer is received, whichever is later.  All Antminers and hardware bought with 20% will be sold and profits split up, Scrypt hardware I already had will be returned to me.

I currently run a 2.0 mh/s farm and am looking to expand into both new Scrypt ASICs, and the next generation of Bitcoin mining.  With a partnership from Unicornhasher, I will be making a hybrid mining op of both Bitcoin and Scrypt mining power.  Shares will be sold in increments of 10kh/s of Scrypt and 1gh/s of SHA-256 power.  Antminers will be supplied using his Hosting program, where miners are hosted in a failure insured place for 90 days, then shipped to me/a buyer at the end of it.  If it is sold, all of the money will be distributed to the shareholders.  Electricity costs will be taken right out of income for rigs at my location, I pay $.093kw/h.  20% of all income will be used for fixing hardware/investing in more, splitting 50/50 between Scrypt and SHA hardware.  Resulting hashpower is distributed among shareholders.  Bitcoin mining will take place on a majority rules vote done by the groupbuy the power is provided by, then by a vote done by Pon3 mining shareholders.


Scrypt mining will be done at a majority rules pool and exchanged bi-weekly to BTC.  Payouts happen every Wednesday and Saturday.  Each share will be released in an auction, starting at .03.  If all shares aren't sold, I might have another with a lower starting price, or keep the rest.  Scrypt mining will officially start on March 3rd, I will point the power at Middlecoin as my leases end and give the profits to early shareholders as a bonus.  I have a new hosting location ready less than 2 hours away, so there will be a few hours down on a few days before the 3rd, but this doesn't affect BTC mining or any official Pon3 mining.  SHA-256 will begin as soon as the Antminer for the group buy arrives.  I may add shares at any time (out of my pocket), but not reduce the amount of hashpower one represents.  Shares may be traded at any time between people by PMing me a PGP signed message with the new owner's username and Bitcoin address.


Important stuff: the Scrypt and Antminer terms are different at the end.  Antminer selling profits are distributed among shareholders, Scrypt hardware that I already owned will return to me for personal use/renting out again.  It comes with partial physical ownership of SHA hardware, and any hardware bought with the growth fund, but not the starting Scrypt hardware.  If Scrypt ASICs ever get efficient enough to make GPU mining obsolete (electricity cost>mining income), that portion of the contract will end, and hardware will be returned to me.  Bitcoin mining and all ASICs bought with the growth fund will continue to run and dividends will be paid for the whole year, still reinvesting 20%, sold at the end, etc...  All downtime will be paid in full out of my pocket using our pool's calculator, hardware failure is covered by the 20%.

200 shares up for purchase, who wants them?

Features:
Not crazy electricity prices
At least two internet connections for miners at all locations
Hosted by 80+ power supplies always
Diversify between types of mining with one payment
Low entry cost

Antminer group buy: https://bitcointalk.org/index.php?topic=455872.0
Unicorn Hasher: https://bitcointalk.org/index.php?topic=420784.0
IPO auction: https://bitcointalk.org/index.php?topic=460513.new#new

I'll have a payment addy as soon as my blockchain finishes syncing, not trusting anything besides Armory for this.  If you want to lock in your price with fiat, I could also accept a cash deposit at Wells Fargo.

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miaviator
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February 10, 2014, 08:05:39 PM
 #2

I am running a host special on antminers. 

1B gets the device +30 days hosting
.6B continues days 30-60
.4B continues days 60-90
After day 90 the devices are to be sold off (estimated .5B sale) and customers may upgrade to a newer asic or receive a refund of the sales price - shipping.

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February 10, 2014, 08:17:53 PM
 #3

Armory semi cold storage setup, send coins to 162sZDq4gRRgDWxe2hhmhZkv5B6Zp5EBqs

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February 10, 2014, 08:47:44 PM
 #4

3=zi?
No, I just realized that was a terrible double meaning....  There is no ponzi here, the reinvestment goes right to more hardware, not paying for other shareholders.  I have the Scrypt hardware in hand and am just waiting for their leases to end.  

Pics:

http://puu.sh/6C9c2
http://puu.sh/6C9dG (there are 2 fans you can't see in there, don't freak)
http://puu.sh/6RhUb.png

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February 10, 2014, 09:04:22 PM
 #5

3=zi?

Lol. I don't think cooldgamer is asking enough for a ponzi.  Shares are limited and payouts are based on mining not investing. 

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February 10, 2014, 09:58:35 PM
 #6

how much are shares for this?

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cooldgamer
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February 10, 2014, 10:47:09 PM
 #7

how much are shares for this?
.04BTC each Smiley

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February 10, 2014, 11:52:00 PM
 #8

what scrypt(s) would you be mining? how profitable is middlecoin for you right now? Ive heard they had some issues.

thanks  Smiley
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February 10, 2014, 11:55:10 PM
 #9

I will mine on whatever multipool the majority of shareholders want.  I typically end up getting .01 per mh/s every day or day an a half.  A good bit of the time there will be large spikes that make it go higher, though.

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February 11, 2014, 04:02:57 PM
Last edit: February 11, 2014, 04:54:57 PM by cooldgamer
 #10

Anybody interested?  First 5 shares I'll price at .038 Smiley

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February 11, 2014, 07:16:30 PM
 #11

Releasing all shares in an auction https://bitcointalk.org/index.php?topic=460513.0 Starts at .03

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February 12, 2014, 08:32:02 PM
Last edit: February 12, 2014, 08:59:54 PM by cooldgamer
 #12

Still got 170 shares not bid on yet, lots of room to still get in Cheesy

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February 15, 2014, 07:01:01 AM
 #13

Identifying information (completely forgot about this) :

Name: Daniel Robert Sapp
Location: Holly Springs, NC
Location to be moved to: Advance, NC
Photo: https://www.dropbox.com/s/1qfuaqipdlyoprc/Photo%20Feb%2014%2C%204%2048%2034%20PM.jpg
More than happy to get on Skype with a mod to prove that isn't a photoshop Smiley

paid via pm. thanks and good luck

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February 15, 2014, 07:27:07 PM
 #14

Identifying information (completely forgot about this) :

Name: Daniel Robert Sapp
Location: Holly Springs, NC
Location to be moved to: Advance, NC
Photo: https://www.dropbox.com/s/1qfuaqipdlyoprc/Photo%20Feb%2014%2C%204%2048%2034%20PM.jpg
More than happy to get on Skype with a mod to prove that isn't a photoshop Smiley

paid via pm. thanks and good luck
Payments for all shareholders have been received, first dividends will be going out tonight, although the Ant has only been on for a day so it will be a pretty small one Tongue

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February 15, 2014, 10:21:10 PM
 #15

so what are you going to do with the unsold shares?

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─── إمركس ───
   
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February 16, 2014, 12:52:02 AM
 #16

so what are you going to do with the unsold shares?
Will be auctioning those off starting at a bit lower price as soon as I can get another Ant secured.

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February 16, 2014, 02:38:51 AM
 #17

Dividends will be sent out in the next hour, just making myself a spreadsheet of who owns what and where to pay it to Smiley

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February 16, 2014, 03:07:06 AM
 #18

https://blockchain.info/tx/d64c1ba0c16c884e62100ac3bbb9147603e12bf7229bcfc34d6fe7998240789e Smiley

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February 16, 2014, 03:25:31 AM
 #19

Received, thanks!
I'm not sure I totally understood the OP. Did the payment include scrypt mining or will it start only in March?

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February 16, 2014, 03:38:26 AM
 #20

Received, thanks!
I'm not sure I totally understood the OP. Did the payment include scrypt mining or will it start only in March?
Scrypt mining doesn't start until March 3rd officially, but I'll be pointing my hardware at Middlecoin as the leases end and distributing the earned BTC to shareholders

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