WHAT:1 share is equivalent to approximately 10GH/s. Cost for each share is 0.07 BTC
The plan is to buy as many Antminer S1's as we can. I'll personally buy enough shares to round up to the next machine. We're starting with 2 (so 36 shares). If at least 37 shares are sold I'll round that up to 54 shares on 3 Antminers, etc.
First unit is already ordered, additional units will be ordered as soon as the necessary funds are made (i.e. when we fill the first machine, I'll place the order for the 2nd). The last order took about 3 days to arrive here which means we should be up and hashing within the week.
If for whatever reason hardware isn't up and hashing within 2 weeks, I'll offer to buy-back any shares as requested.HOW:Payment address is
1JVg4rdeTp2wqfVhsbAzJJCPjiywDLQQUPFollowing 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 $80 MAX per Antminer, per payout hosting fee. Why do I say max? Because I'm renegotiating power costs every time I add hardware with my hosting partner and there's a good chance that will actually be lower, especially as I add new rounds.
See R1 where the hosting fee dropped from $150/payout to $100/payout as an example of this. 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.
Any other questions?See the R1 topic here:
https://bitcointalk.org/index.php?topic=438740.0Post below, or PM me. I'm on multiple times throughout the day.
