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PM me with confirmation of which entry you are and if entry is correct.
Over 2300 BTC funded @ over 10$ each at current market rate
(NUMBERS) estimates will vary according to current BTC price in USD as it directly affects how many ASICs can be purchased.
BTCMining.ca is a co-owned mining operation where each member owns a part of the equipment (COOP like operation).
It will operate in Montreal, Canada. Initial planned output is (3 Terahash/s) using Butterfly Labs ASICs Rigs and administration fees are 10% as per contract.
or see GLBSE page
Buy shares: https://glbse.com/asset/view/BTC-MININGAdvantages
- (300 mhash/share) @ 1 BTC each: Includes 50% returned to members, 40% for buying new equipment to replace and expand and a low 10% administration fee.
- Equipment will be insured against theft and fire. /covered by the 10% fees
- Equipment will be maintained /covered by the 10% fees
- Operation's power bill and supporting material: cables, computers, cooling, extras, etc. /covered by the 10% fees
- All equipment is owned by the members. They are entitled to 100% of sale proceeds with no fee assessed by management if the operation stops.
- Green and cheap energy: Hydroelectric power @ $0.075/kwh
- Cheap and clear fees (10%) compared to many other mining operations. Others have undisclosed percentage of fees or 100%+ Pay Per Share hashing power perpetual bonds without disclosing how much actual hashing power they buy in total with the funds or which amount goes into keeping it perpetual or admin fees.
(3 ASICs Mini Rigs) will be purchased for (300 mhash/share), with 10% for administrative fees, 40% reinvested in more equipment for the members and 50% paid out in dividends.
Detailed expected initial numbers for IPO:BTC-Mining IPO page
Need anything clarified? Post your questions and I'll update this post.
10000 shares will be issued on IPO, with the possibility to vote to issue more should the members wish to expand even faster.
Hashing power bonds purchased (Most recent)
Spent = 214 x 11 BTC = 2354 BTC
Bought = 214 x 40 mhash = 8560 mhash/s
Those bond will be bought back by issuer later at the same price they were purchased. These private bonds are purchased to get a few returns on our capital while we sell shares so the bitcoins don't idle in the account.Dividends Statement
I am buying 40 mhash/11 BTC, or ~3.63 mhash/BTC (100%) in dividends until we can afford the mini-rigs.
Amazingrando, issuer of Bitbond, would be the hashing power provider. While he's not endorsing us or differing much from his usual bonds structure, it would help BTC-Mining's concept to take off. I will be donating him a few shares from the ones I purchased and if you are interested by and want to buy in into BTC-Mining, I would suggest you make him a donation too as a token of gratitude so he gets a few parts in the operation for helping it take off.
You can donate to Amazingrando by transfering a few BTC-Mining shares to username: amazingrando
Many people asks us why we don't offer the same as other mining operations or requests something different, basically wanting more mining bonds. We are simply not offering bonds, but an alternative. We will try to explain why we chose that structure. You can judge whether that makes sense to you and if it is what you are looking for. Q. Why should I wait for the equipment delivery when I can get hashing now? Why should I wait for returns?
Answer: Because you are actually buying the equipment with others. You have a right to 100% of the equipment's sale if it is voted to be sold if and when people want to stop the operation. You get lower administrative fees and better advantages that way for waiting some time and pre-funding your own equipment instead of buying a fraction of a current mining operation.Q. Why 40% reinvested? What if I want 100% proceeds? Why not issue more share to replace equipment and just give people 100% of mining now?
Answer: Because under that model, we would get more and more shares for simply replacing the equipment, basically keeping the same hashing power for a growing amount of share while still having to sell as many shares at the same price for each replacement. Shares dilution would occur and the operation would die out since people don't pay for the replacement of the equipment power associated to their shares. Getting new shares sales to pay for the replacement of the hashing of your old shares would not be right. Equipment needs to be replaced and extra equipment added for the shares to gain value and the operation to grow. You also need growing hashing power to compete with increasing difficulty.Q. But other mining operations offer 100%+ Perpetual PPS paid right now! Why would I need to reinvest 40%?
Answer: You get 100%+ PPS on a specific hashing power from current miners' hardware who would then buy with your funds more hashing power then you actually bought with it. This extra hashing they buy is usually an undisclosed amount on which they get their profit and pay for the replacement needed to keep it a perpetual bond. You get 100% of the hashing they agreed to give you. With us, you know the fees are a low 10% because it is a service we provide and you funded the equipment in advance. Although the dividends are a bit lower, the 40% reinvested is all equipment that is added to YOUR part in the hashing power. It's a long term investment with a growth plan. Look at the planned numbers here: Expected hashing and returnsQ. It looks interesting, but I am afraid others won't buy or like it. What if shares don't sell fast enough and my funds are withheld for a long period until we can purchase equipment?
There's a maximum period for the IPO of 2 months (Ending June 23rd).
* It don't think people should let emotion interfere with how they place their money. Ponder whether the terms are interesting and if the wait time is worth it. If you like the terms, the best way to make it happen would be to invest to speed the process and encourage others to do the same thing.
I've negotiated a hashing power deal. I will be privately buying 40 mhash/11BTC bonds with the funds that will be reimbursed by the end of august. See announcement. With the discounted hashing power we're buying, it's currently more advantageous to buy BTC-Mining than other traditional mining operation shares considering you get returns during the funding phase and 100% of funds will still go on the newest hardware.
*I'd still try to get your shares purchased back after on the 23rd June if you still really want to get off. Just request it.Q. Why not place the money in Pirate Bonds or something else to get returns for people while we gather funds for the equipment?
Answer: For the pirate bonds, there's some controversy about it even if pirateat40 is trusted. Many have doubts about the up to 7% returns a week being even close to realistic or feasible. Many are pro pirate, but many are also sure he will default. Personally I do not believe it is a safe investment. This is a mining only operation and I am offering a professional management service. I am not going to start risking and placing people's money which I've been entrusted with left and right when they are intending to be co-buying Butterfly Lab mining equipment. We are holding those funds for the purchase of the offered mining equipment only.Q. So it is a long term investment?
Answer: Definitely. And you would still get approximately 3.75 mhash/BTC of dividends with current IPO on the 50% dividends, a better rate than most current titles because they raised in value immediatly after IPO. (Current valued at 2.70 - 3.40 mhash per BTC). That's not counting the massive reinvestment of 40% as an extra. The waiting time should be worth your while. This would be possible because you are funding the equipment yourself, we only service it.
IMPORTANT NOTICES & EVENTS
Shares left countdown: 7987
Raffle & Discount shares
As a way to promote BTC-Mining out of the securities forum, I'm offering discounted shares and a raffle paid out of my own pocket. Those shares are purchased from my personal account and resold at a small discount/raffled. Participate in the thread.