I would like to introduce to you, the Bitcoin Syndicate.
We are co-operative of individuals working together to mine, earn profit, and seek out ways to benefit the bitcoin economy and community as a whole.
This is the Newbie Area thread, to allow newbies to discuss the syndicate as well. For a link to the main discussion thread, see below.
I'll keep this brief, as there is a ton of information over on our site for you to read through:
- Aggressive Growth: We are using an aggressive growth profile as our primary strategy. Our current forecasts show 100% growth in the first year (shares double in value in a 12 month period)
- We are primarily a mining operation, but we intend to do so much more We are currently a mining operation. And that will be our primary means of growth/profit for the immediate future. However we have several awesome initiatives in the wings, which we will use to expand into new areas. We don't plan on putting all our eggs in one basket long term (mining), though it will always be a prominent feature for us.
- We currently operate a 6GHash/s GPU Cluster, and intend to grow FAST! Our founding members have given us a kickstart with enough GPU based mining hardware to build a 6GHash/s cluster. That's pretty big already for a publicly traded mining op. But we intend to use 100% of the funds from our IPO to invest in a large FPGA mining cluster, and to grow the size of that FPGA cluster by a fairly large margin each month!
- We are open, transparent, and honest: One of our primary goals is to stay as open, transparent, and honest as possible. we will openly share information, our identities, our financial records, and anything else of value or importance to the community and our shareholders. See our site now for our live financial records, and realtime stats of our mining. We'll be expanding this over time to be more robust (based on shareholder feedback!). We will try our best to answer any questions, and make our investors feel at ease with their investment. In addition we will be going through the full extent of identity verification processes with GLBSE 2.0, so you will have a face, name, address, and so on to put to our key members, and the organization as a whole.
- We are passionate about bitcoin, and want it to thrive. we are also passionate about our own success! We are all passionate about bitcoin as a concept, and want it to succeed and grow. So many/all of our initiatives are designed to achieve this goal. What's good for bitcoin is also good for the Syndicate! Also, we are passionate about the syndicate, and will ensure we always continue to drive towards growth, and success. We won't let our momentum fall!
- We are profitable! We will be paying dividends, but primarily we will be focusing on growth. 80% of all earnings (this number is open to a motion of course), will be dedicated to expanding our operation. The remaining 20% will go into dividends to be paid out each month. This may sound like you don't earn much, but consider that your investment (and shares) represent a share in ownership of Syndicate hardware, as it expands, the value of those shares expands with it! In addition, if all goes according to our forecasts (Which of course it may or may not, but we feel we've used conservative estimates in the forecasts) an investment in the Syndicate at the IPO, allowed to grow over a 1 year term, will result in overall 5% more profits for the shareholder, than the same investment planted into a purely dividend based mining operation. And after that, the growth will increase your profits drastically.
- We're in it with a long term game plan We are in this for the long haul. We're not looking for quick returns, and fast get rich ideas. We want to build a long term, sustainable, and overall profitable organization. Which is a positive contributing force to the bitcoin community, and economy. And we want to maximize our overall profits (and therefor those of our shareholders) over the long haul.
If this sounds interesting to you, we'll be doing our first public release of shares VERY shortly (if all goes well, within the next 24 hours, so by the 21st of Feb at the latest).
In this IPO we have issued 12,000 shares. Of which the founders were compensated for their initial contribution of mining hardware (at rates according to public value, all documented clearly in our bylaws). So the founders start off with approximately 45% controlling interest in the Syndicate. That remaining 55% of the shares will all go on sale during the IPO, at a price of 0.25BTC per share. A mere quarter bitcoin will allow you to get in on this excellent investment opportunity.
For more information, check out our website at: http://www.btcsyn.com
And of course if you have any questions, or feedback, we would love to hear them! Please feel free to post here, and I'll do my best to answer promptly!
Link to the main thread in the services section: https://bitcointalk.org/index.php?topic=64638.0EDIT (02/21/2012 10:42PM EST):
The IPO is now live, our shares are now trading in the wild on GLBSE!