[ANN] Small, but really profitable Scrypt mining project

[Vezunchik]

We gathered a small group of enthusiasts to start mine alt-coins before ASIC devices would spoil the situation completely.

(Just my opinion – script ASIC devices will never make profits, just like SHA256 ASIC – in best case just ROI. The only one who will win – ASIC manufacturer, as it was before.)
Under the diploma project of one of our members we will get unfinished AMD GPU’s (15-25 or more).

We will use oil cooling system and profit switching.
So, it will look like mining farm for the first time. Later we plan to utilize CPU’s for Quark-like coins mine. When we will get first profits and feel the need to be expanded we will issue shares (IPO) and so.
At this moment, you can join to this project to get profits on BTCJam (We could not find better place to give our "investors" some real guarantee...):

[Vezunchik]

Here is a quote from BTCJam to explain some things:

Code:

Hello. I want to present unusual mining startup.

As you know SHA256 mining is almost “dead”, even with an ASIC, taking into account ASIC price, and difficulty.

Scrypt mining on GPU is almost “dead” too (Same reasons. In addition, a doubtful reputation of chip manufacturers. As it happened before (BFL, Avalon) most likely, that manufacturers will be the only ones who will take profits. And don’t forget about shipping time.).

Considering all this, I was looking for ways to make profit from mining last months. We have a small seam of former and present students. Unlike ASIC manufactures, our goal is not a loud statement or collection of pre-orders, but the actual mining in small scale. Here is our plan:

One of our members agreed to make his graduation project in collaboration with AMD, where he is going to work after university. This allows as to get limited access to AMD’s GPU production and documentation. (Under the AMD’s program of support of higher education institutions.)

We are going to get reference PCB design of 7990 card or any other suitable, remove all useless parts (HDMI, DVI, some logics) and request a small batch (15-25) of this cards. They will be as-is – without radiators and fans. Then we are going to mine on this “cards”.
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Why this will be profitable?
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That’s because without useless parts, warranty, package and taxes cost of each GPU will be 10-15% of stock prices. Also, we will get GPUs without cooling system. To solve this problem we’ve decided to use oil cooling system in the aquarium. I’ve done some tests by myself – this allows even better overclocking than with regular fans. Most of PSUs and motherboards will be used ones and we will get them at no cost.

It is certainly better than waiting for a new (possible unreal) Scrypt ASICs, especially knowing their prices. I think this project looks mostly like ASICMINER, but without shares (Because of small size of this project). I am nearly a director of this project, but this is real startup – everyone can influence decisions.

For example one of us (working programmer) want’s to fix well known “sgminer” core “quarkcoin.cl” to mine SecureCoin (SRC). (Unfortunately, he wants money for it. Maybe we will collect funds for this idea too, but separately.)
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Well, it is profitable. Why not to invest 100% by myself?
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Thirst of all - University will pay a ridiculous amount of money for this diploma project (As you can see, this is a project of double purpose in fact :) ). Also, a small amount of money will be collected from our team. Anyway, we need much bigger amount. There will be no IPO or shares or so, as I said. (This project is just not up to it.). So, I offer you to invest and get good profit.
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Why we can trust you (it’s personal loan despite that it is a group project)?
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What about my reliability – I think it’s “A” grade (I don’t know why administration still didn’t change my grade. They speak about “machine learning system”… May be some politics in fact.)
1. Identity Verification - (Accepted).
2. Address Verification - (Accepted).
3. Phone Verification - (Accepted).
4. Income Verification - (Accepted).
5. PayPal (about 6 years) account connection - (Accepted).
6. eBay (about 6 years) account connection - (Accepted).
7. facebook account connection - (Accepted).
8. bitcointalk.org account connection - (Accepted).
9. Online Wallet (Coinbase) connection - (Accepted).
10. I heave 100% positive feedback and personal references.
11. I have More than 1 year of good history here. I have 73 followers I've made 55.12 BTC payments.
12. I had no overdue loans of even single payments.
13. I have 100.00% positive feedback on eBay, Amazon.
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Who soon and how much we will get back?
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Well, we think that we need 1 month to figure out organization and engineering problems and get boards. ROI of these boards will be less than 1 month. So nearly in 7 weeks, we will get profits. For security reasons this loan will be repaired in 3 months. We expect the yield of 120% per month, but there will be rise of difficulty and overhead expenses. I can’t promise you that we will pay more than promised in this loan, but if we decide to expand mining we will rise payments to get people interested.

[Vezunchik]

And if you don't want to mess up with BTCJam registration - you can use my public address

1AkZFPx76RWEEpojMj5RvGDDesZxPazVdF

All payments to this address will be processed just like on BTCJam (you must PM me about "sent from address" and amount you sent to be sure). My reputation here is clear, as you can see.

[Vezunchik]

Well, absolutely no interest to this project
May be we should rise your interest rate?

[railzand]

scrypt mining is just so dull right now.
maybe move your thread to the altcoin section, see what they think

[crashoveride54902]

scrypt mining is just so dull right now.
maybe move your thread to the altcoin section, see what they think

dull as in dying? kinda regretting my scrypt asic purchases now...but hopefully they will ROI...someday

btc n ltc are the gold n silver coins...the rest are pretty much useless...all ya can do with them are trade on exchanges...look at how many coins have already came n gone...i'm sure most alt coins will die off...just depends on how long that will take...i don't see any altcoins lasting more then a yr...just my opinion thou

and OP after 1 day you say no interest? its only been 1 day, but sadly the scrypt market has gone south...very fast...look at that A2 90mh/s unit sold for 10k when first came out, now get one new for 3999...and i'm sure that price will continue to drop...fast

[Vezunchik]

Price will drop just while shipping time and difficulty will rise.
IMHO - ASIC manufacturers always make ROI even before they start shipping. Their customers - in 3 months after delivery (if it happens), in the best case...

How can I move topic to altcoins?

scrypt mining is just so dull right now.
maybe move your thread to the altcoin section, see what they think

dull as in dying? kinda regretting my scrypt asic purchases now...but hopefully they will ROI...someday

btc n ltc are the gold n silver coins...the rest are pretty much useless...all ya can do with them are trade on exchanges...look at how many coins have already came n gone...i'm sure most alt coins will die off...just depends on how long that will take...i don't see any altcoins lasting more then a yr...just my opinion thou

and OP after 1 day you say no interest? its only been 1 day, but sadly the scrypt market has gone south...very fast...look at that A2 90mh/s unit sold for 10k when first came out, now get one new for 3999...and i'm sure that price will continue to drop...fast

[crashoveride54902]

pm a mod...i dunno if ya can move it yourself

[Vezunchik]

We have increased the interest rate, because of complete distrust. So to save profits we reduced loan size. (With this interest rate and full capitalization by BTCJam this project will be unprofitable ). We've found another investors, but still your your help with the rest.

Please hurry up - we have to make order soon!

[Vezunchik]

time has run out.
Closing this thread.