So before are begin to go into details about my "Bitcoin Mining Share" idea, please take my feeling on the matter as being truly genuine and in no circumstance is this any kind of scam.
So just recently I got into bitcoin mining. I'm a bit late in the game to say the least and unfortunately I don't have the financial means to invest in a proper mining rig. A proper mining rig being anywhere in the 5-10K ballpark. So my train of thought leads me to only one point of direction. Find some credible men that can invest with me.
So here I am throwing this out there. I'm looking for up to nine other new investors like myself that want to get into the mining game but can't really afford one of these expensive rigs on their own. This is a true mining share to every sense of the word. This is not a lease agreement or ponzi scheme.
I've thought about this for awhile and put together a string of rules for the mining share.
Miner Share Agreement and Rules
All investments are for partial ownership of one miner rig. Your percentage is equally divided amongst the number of investors. IE: 10 investors = 10% earnings
Host of the miner rig (currently bitcoinminershare.com) is afforded an extra 120.00 a month for electrical and money transfer costs. This money will be deducted from profits equally amongst the investors. IE: $13.00 a month per investor (with 10 investors)
The host is not responsible for any damage that might occur to the miner rig. If repair is required the costs of repair is equally divided amongst the investors.
The host will not be responsible with any reimbursement for loss of power to the miner rig. If the miner rig remains without power for two weeks the host is required to ship the mining rig to a agreed upon investor.
Investors can be bought out at a estimated 60 day earnings cost. The earliest buy outs are 6 months after mining begins unless otherwise agreed to earlier date by the investment community.
Payments to investors MUST occur on a weekly or bi-weekly schedule on a particular day hand picked by the investors.
For whatever the reason the host cannot maintain the mining hardware or payment responsibilities he is obligated to ship the equipment to a new host decided by the investors. If no other host can be made available the equipment must be sold and earnings divided equally amongst the investors.
Communication is essential however not required but I feel it's highly beneficial if all investors participate in weekly conference calls. These meetings will help direct the community into further investment opportunities.
I put together a quick site for uniting such investors.
http://www.bitcoinminershare.com/ - Still a WIP
Please take a look and if anyone is interested I encourage them to join the chat at the website and maybe we can turn this into a reality.
