NA

[Wildwest]

I'm more that willing to step in and oversee the thing, but that does involve at least a meeting IRL. I'll pay for lunch George  

I will buy packages if LTEX or another trusted person meets up with him.

[Bluestreet]

I'm more that willing to step in and oversee the thing, but that does involve at least a meeting IRL. I'll pay for lunch George  

I will buy packages if LTEX or another trusted person meets up with him.

20 packages for me if he is telling the truth.

[Jero]

The guy deserves 7.5 btc for the effort he is putting into this Con although I wouldn't hand him the NLG to distribute because you don't want him to have 1.5 million coins waiting to be dumped at some time in the future. It's one of those Cons you don't mind losing on because your getting guldencoin and reducing the premine at the same time.

Well... let's make him have 7.5BTC to set up this mining session.
The 1.5M Guldencoin will be distributed over the participants, so don't worry about those.

I think this opportunity deserves a change.
I have seen how George made his entry in the Guldencoin community and how things evolved from there.

There is trust and all the info we need about George for now...

[LTEX]

The guy deserves 7.5 btc for the effort he is putting into this Con although I wouldn't hand him the NLG to distribute because you don't want him to have 1.5 million coins waiting to be dumped at some time in the future. It's one of those Cons you don't mind losing on because your getting guldencoin and reducing the premine at the same time.

Well... let's make him have 7.5BTC to set up this mining session.
The 1.5M Guldencoin will be distributed over the participants, so don't worry about those.

I think this opportunity deserves a change.
I have seen how George made his entry in the Guldencoin community and how things evolved from there.

There is trust and all the info we need about George for now...

Maybe I'm just to stupid to comprehend the plan, but is there any post I have overseen where there can be found an explanation how 100Mh can be guaranteed for a lifetime? I don't care what equipment is being bought for this (and how low the power and maintenance cost are), but it will cost at least 5BTC to get a good (used) 100 Mh rig. That will last no longer than 2 years (if lucky). Then a replacement needs to be bought. Let's say this will only cost 2.5 BTC then, again for 2 more years. After 4 years the initial well has dried up. Where is the (relatively high) interest coming from that takes care of 10 to 30 more purchases?

The only thing I can come up with is a ponzi scheme where new investors pay the tab. Once new hash rounds fail, so will the "lifetime" contract. Again, it's probably me being dumb here...

Can you please make an effort to educate me George? Again, I'm not accusing you of anything, I just want to be able to grasp the plan. Hell I'll pay the 7.5BTC myself if you can make me understand!

[Jero]

The guy deserves 7.5 btc for the effort he is putting into this Con although I wouldn't hand him the NLG to distribute because you don't want him to have 1.5 million coins waiting to be dumped at some time in the future. It's one of those Cons you don't mind losing on because your getting guldencoin and reducing the premine at the same time.

Well... let's make him have 7.5BTC to set up this mining session.
The 1.5M Guldencoin will be distributed over the participants, so don't worry about those.

I think this opportunity deserves a change.
I have seen how George made his entry in the Guldencoin community and how things evolved from there.

There is trust and all the info we need about George for now...

Maybe I'm just to old to comprehend the plan, but is there any post I have overseen where there can be found an explanation how 100Mh can be guaranteed for a lifetime? I don't care what equipment is being bought for this (and how low the power and maintenance cost are), but it will cost at least 5BTC to get a good (used) 110 Mh rig. That will last no longer than 2 years (if lucky). Then a replacement needs to be bought. Let's say this will only cost 2.5 BTC then, again for 2 more years. After 4 years the initial well has dried up. Where is the (relatively high) interest coming from that takes care of 10 to 30 more purchases?

The only thing I can come up with is a ponzi scheme where new investors pay the tab. Once new hash rounds fail, so will the "lifetime" contract. Again, it's probably me being dumb here...

Can you please make an effort to educate me George?

At https://community.guldencoin.com/t/community-mining-ipo-follow-up-permanent-mining-initial-setup-session/1215 you find all the info about this project. if you are a member/have an account at the official Guldencoin forum you can ask additional questions about the permanent mining session there  also...

[GeorgeAurea]

https://community.guldencoin.com/t/community-mining-ipo-follow-up-permanent-mining-initial-setup-session/1215

Only 28 packages left of 100.

Yup, 2/3 already filled, only 1/3 to to go.

Awesome support!

Will the next 100 MH also have a community funding or just the first 100?

You mean with help of the pre-mine?

Correct.

Unknown, since that part hasn't been discussed.

Once the initial setup would be up and running, things could be explored on possibilities with follow-ups with the help of the pre-mine.

Until then, the answer would be for the first 100 MH/s.

(P.S. once the first 100 MH/s is up and running, follow-ups can be done in incrementals of 10 MH/s (either with, or without the help of the pre-mine))

Which company in China is building the rigs for you?

Not a company, it's my family over there that is handling the China part. They do the hardware, I do the software which connects and runs the system.

Will your family be taking 1% fees, what's in it for them to put this effort in?

No, no fees.

There's nothing "in it" for them, in terms of materialistical speaking. My family is close, and the ones residing in China are crypto enthousiasts too. They are in it for the sake of crypto, not for personal gains or any other materialisical level.

[LTEX]

At https://community.guldencoin.com/t/community-mining-ipo-follow-up-permanent-mining-initial-setup-session/1215 you find all the info about this project. if you are a member/have an account at the official Guldencoin forum you can ask additional questions about the permanent mining session there  also...

Obviously I've read that one. It only states what can be expected, not how it's done. Maybe we should start out by defining the term "lifetime". Is this  the average age of a normal european citizen, like 85 years, or is it the expected lifetime of Georges aunt in China? I have seriously read all the posts made about this, but I have not seen any details on how the operation will work.

Again, if someone tells me he can arrange a contract that lasts 24 months I can oversee that. Lifetime mining is just a bit to vague for me...

Oh, and before I get blamed for being the negative one here again, it's called Due Diligence! Something every man should do when he takes business serious! And yes, I do take NLG and it's community very serious!

[Spakler]

At https://community.guldencoin.com/t/community-mining-ipo-follow-up-permanent-mining-initial-setup-session/1215 you find all the info about this project. if you are a member/have an account at the official Guldencoin forum you can ask additional questions about the permanent mining session there  also...

Obviously I've read that one. It only states what can be expected, not how it's done. Maybe we should start out by defining the term "lifetime". Is this  the average age of a normal european citizen, like 85 years, or is it the expected lifetime of Georges aunt in China? I have seriously read all the posts made about this, but I have not seen any details on how the operation will work.

Again, if someone tells me he can arrange a contract that lasts 24 months I can oversee that. Lifetime mining is just a bit to vague for me...

All vague at the moment. I'm out george, 2 packages available for someone else. Should not be hard te sum the conditions and facts. All we get is lifetime, family and 100mh.

[strataghyst]

George what about the suggestion LTEX made to team up with him?
This way you can earn some more trust otherwise I think more people will follow spakler.

[danijel]

George what about the suggestion LTEX made to team up with him?
This way you can earn some more trust otherwise I think more people will follow spakler.

Well I think I am the next one to step out

[veertje]

Here is another thread about how it is done in some way:
https://community.guldencoin.com/t/uitwerken-plan-consistente-hash-voor-guldencoin/1162

George was very open if the community wanted this, not pushing it at all. I still give my trust, although George can explain it a bit better maybe. George is relative new, but conversations are always very positive and contributing, also in other discussions. Best ask questions in the thread on the forum about it, I think:

https://community.guldencoin.com/t/community-mining-ipo-follow-up-permanent-mining-initial-setup-session/1215 or

https://community.guldencoin.com/t/uitwerken-plan-consistente-hash-voor-guldencoin/1162

[julian071]

Whatever happens, everybody please remember that our common goal of making NLG a success is most important. This investment may be a good idea or it may be a scam. People have strong opinions about what it is. Just remember that people trying to warn others are doing that because they want NLG to succeed without people getting scammed, and people advocating investing in this want more hashing power for NLG. We share the same goal!  <3

[GeorgeAurea]

https://community.guldencoin.com/t/community-mining-ipo-follow-up-permanent-mining-initial-setup-session/1215

Only 28 packages left of 100.

Yup, 2/3 already filled, only 1/3 to to go.

Awesome support!

George, my brother asked if your using 2nd hand hurricane 10mh miners to build up the farm and he said the price your doing this for sounds impossible.

No, 2nd hand equipment isn't being used.

[veertje]

Whatever happens, everybody please remember that our common goal of making NLG a success is most important. ...... We share the same goal!

Ofcourse. This discussion is a good one and logic also.

About investing in this IPO mining of George, you get 15k NLG per package out of the premine and will be distirbuted by a trusted 3rd party of the community when it goes on next month, as i understand now.
So in case the mining does not work out as mentioned by George, even then investment is not lost. So that is why I say lets give George the benifit of the doubt. But discussion and question can go on. Best is to ask questions on the forum, i think. What I have seen in postings of George he is really willing to contribute to the succes of Guldencoin. I think everybody can make his own discision in this, wanting to participate or not. More trust can be gained coming weeks, this should not divide the community at all.

[GeorgeAurea]

https://community.guldencoin.com/t/community-mining-ipo-follow-up-permanent-mining-initial-setup-session/1215

Only 28 packages left of 100.

Yup, 2/3 already filled, only 1/3 to to go.

Awesome support!

George, my brother asked if your using 2nd hand hurricane 10mh miners to build up the farm and he said the price your doing this for sounds impossible.

Nobody knows who GeorgeAurea is, most members are known to other members or have had contact with other members in some sort of way.
There is no member who can back up GeorgeAurea that he says who he is.
This is one of the reasons to make me doubt to support the project.

No extra information is available where in China the mining will take place, what company or people are involved.
None of the information that is given so far can be double checked in any way.

Lifetime mining and everything is all-in; maintenance, electricity, miners etc etc even if the electricity prices would double it would be no problem.
The lifetime mining project, let's be real it sounds to good to be true and if something is to good to be true you should be extra cautious.

If this would be a CFP project I would have voted for a big NO but since this is a one man project the people who are supporting and donating money should use their common sense and keep in their mind that the chances are big they might loose their money.

I really really hope GeorgeAurea is the real deal and he can back up his words but I have big doubts.

Valid point.

The only 1 thing I would like to correct, is the alledgedly stated regarding electricity prices doubling would be no problem:
"In the highly unlikely case electricity prices would double, mining revenues would possibly become less but would not cease the mining itself to continue from happening." 

[GeorgeAurea]

I have to agree with Barry as well. I have been reading all posts regarding the plans of George on the sidelines and have had the exact same "gut feelings". I am not going to participate anyway, since I have my own "lifetime" mining operations running  

Now don't get me wrong, I'm not saying I do not trust George (neither does Barry btw) but I'm also not saying I do. One of the main reasons is that lifetime mining contracts are as good as impossible to do. I also have not seen full disclosure of how he thinks to make it possible and the main red flag that I see is that he evades every effort from guy's like WaterLooDown to get involved (it's always not possible and all automated).

Again, use common sense people. If someone proposes to deliver something that seems nearly impossible, it's not so much to ask for his credentials.

I'm more that willing to step in and oversee the thing, but that does involve at least a meeting IRL. I'll pay for lunch George  

Fair.

If a meeting IRL would help, then a meeting IRL should be arranged 

[GeorgeAurea]

Perhaps GeorgeAurea can answer the questions if he wants to.

He did already on the other forums.

No he did not and you know it.  
He only gave vague answers and those are not to be double checked in any way.

The guy deserves 7.5 btc for the effort he is putting into this Con although I wouldn't hand him the NLG to distribute because you don't want him to have 1.5 million coins waiting to be dumped at some time in the future. It's one of those Cons you don't mind losing on because your getting guldencoin and reducing the premine at the same time.

A thank you should be in order I guess... 

I already stated on the community.guldencoin forum that I am fully aware of my status, and that I would be more than happy if anyone else would handle the distribution of the 1.5m Guldencoins 
( see post #20)

[GeorgeAurea]

The guy deserves 7.5 btc for the effort he is putting into this Con although I wouldn't hand him the NLG to distribute because you don't want him to have 1.5 million coins waiting to be dumped at some time in the future. It's one of those Cons you don't mind losing on because your getting guldencoin and reducing the premine at the same time.

Well... let's make him have 7.5BTC to set up this mining session.
The 1.5M Guldencoin will be distributed over the participants, so don't worry about those.

I think this opportunity deserves a change.
I have seen how George made his entry in the Guldencoin community and how things evolved from there.

There is trust and all the info we need about George for now...

Maybe I'm just to stupid to comprehend the plan, but is there any post I have overseen where there can be found an explanation how 100Mh can be guaranteed for a lifetime? I don't care what equipment is being bought for this (and how low the power and maintenance cost are), but it will cost at least 5BTC to get a good (used) 100 Mh rig. That will last no longer than 2 years (if lucky). Then a replacement needs to be bought. Let's say this will only cost 2.5 BTC then, again for 2 more years. After 4 years the initial well has dried up. Where is the (relatively high) interest coming from that takes care of 10 to 30 more purchases?

The only thing I can come up with is a ponzi scheme where new investors pay the tab. Once new hash rounds fail, so will the "lifetime" contract. Again, it's probably me being dumb here...

Can you please make an effort to educate me George? Again, I'm not accusing you of anything, I just want to be able to grasp the plan. Hell I'll pay the 7.5BTC myself if you can make me understand!

Sure.

I believe most people get stuck on the assumption that it is only about purchasing hardware. Which is not the sole case.

It's a mix of hardware and software, and connecting the dots between them.

Reason why I haven't disclosed the system in every single detail, is simply to prevent other coins from copying it. I stated that I would like this to be an "NLG exclusive" (https://bitcointalk.org/index.php?topic=554412.msg12102686#msg12102686, bottom), which, I would like to uphold...

[sven22]

I take 10 packages now George to keep your motivation. Call me dumb, but I do trust this dude

[GeorgeAurea]

At https://community.guldencoin.com/t/community-mining-ipo-follow-up-permanent-mining-initial-setup-session/1215 you find all the info about this project. if you are a member/have an account at the official Guldencoin forum you can ask additional questions about the permanent mining session there  also...

Obviously I've read that one. It only states what can be expected, not how it's done. Maybe we should start out by defining the term "lifetime". Is this  the average age of a normal european citizen, like 85 years, or is it the expected lifetime of Georges aunt in China? I have seriously read all the posts made about this, but I have not seen any details on how the operation will work.

Again, if someone tells me he can arrange a contract that lasts 24 months I can oversee that. Lifetime mining is just a bit to vague for me...

All vague at the moment. I'm out george, 2 packages available for someone else. Should not be hard te sum the conditions and facts. All we get is lifetime, family and 100mh.

Fair.

Per your request, I have opted you out.