BFTBMining: Celebrating 1 Year Of Operation!

[Dr Charles]

Introducing.... The Bit from the Block Project. The First Managed Mining Option.

Celebrating over 6 months of operation!

https://bitcointalk.org/index.php?topic=851442.0

http://www.bitfromtheblock.com/

http://bitcoinified.net/mining-store/

http://timetominebitcoin.com

The Bit from the Block Mining project was created to provide an alternative managed mining solution that has never been seen before. Acting much like a mutual fund, the BFTB project aggregates mining power form several different cloud mining vendors as well as mining power from project owned hardware and sells it in one package as a diversified, managed, mining solution.

Essentially, project members can purchase mining power in as little increments as 1 gh/s at a time. The a single GH of mining power that is purchased through the BFTB mining project, is backed by mining power from all of the project mining exchanges as well as our hardware.

Taking this approach to cloud mining has several major benefits:

•All BFTB Mining power is diversified. All cloud mining vendors charge different maintenance fees for owning the hashpower in their remote data centers. By owning a single Gh in the BFTB project, you are getting the average maintenance rate of all vendors spread across the market. Some vendors have high fees, and others have very low, so having an average of those maintenance costs is very beneficial.


•Risk Aversion. Having mining power spread across multiple exchanges, and hardware, means that if we run into one bad apple vendors who ends up shutting down or dissappearing with mining power (which has been known to happen) the BFTB project can re-allocate project mining power to a new vendor and continue operations. This flexibility and liquidity is not something you would have if you purchased mining power from a vendor who shut down, in most cases you would lose everything you have with that vendor.


•Economies of Scale. By participating and purchase mining power in the BFTB, not only do you have a safer option in this riskly industry we call mining, but you also may end up with bonus payouts. The way this project is designed, you may purchase 1 gh/s of managed mining power but may end up getting the payouts of 1.5 Gh/s or more. As the project grows and mining power fluctuates between vendors, we have been able to accrue more mining power than shares sold. Rather than cashing out on this mining power and taking profits, we have been reinvesting everything back into the project. Purchasing hashing power in larger quantities allows for greater discounts than regular retail purchases. The BFTB project passes those discounts directly to project members through the form of dividends.


Mining Dividend Generation:
 90% of Gross Mining Revenue* is paid out in Dividends to project members
 10% of Gross Mining Revenue* is reinvested into additional hashing power.

How Can You Join?
 Currently the project is being hosting through the NXT Asset Exchange. The BFTB project started on Coinsortium but after numerous issues and losing the ability to withdraw funds, we moved to the asset exchange as a mid-term solution. The goal is to finish building our own cloud mining website to host project hash power sales as well as a live market feature to trade.

Option 1:
•First Download the Local NXT Desktop Wallet Cliet from the official website here: http://nxt.org/
•Create a Wallet and SAVE THE PASSPHRASE. If you lose the passphrase you will lose access to youy wallet.
•Download the Blockchain. This may take a while depending on your computer.
•Once you have downloaded the Blockchain, click on the "Asset Exchange" Tab on the left hand side.
•Once on the "Asset Echange" tab, in the upper right hand corner of the wallet, click the button "Add Asset".
•Add the BFTB Asset ID. The BFTB Project Asset ID is: 17932033886660099893
•Now fill your new NXT wallet with NXT and you can purchase mining power on the NXT Asset Exchange.

Option 2:
•First Download the Local NXT Desktop Wallet Cliet from the official website here: http://nxt.org/
•Create a Wallet and SAVE THE PASSPHRASE. If you lose the passphrase you will lose access to youy wallet.
•Download the Blockchain. This may take a while depending on your computer.
•Go to http://bitcoinified.net/mining-store/
•At Bitcoinified, you can purchase mining power directly with BTC or XPY. Once you have made a purchase, you must submit your NXT Wallet Address (and public key if you have not made any other NXT transaction yet) to the BFTB project either through PM, on the BFTB forums at http://bitfromtheblock.com/index.php/forum/index or by email to This email address is being protected from spambots. You need JavaScript enabled to view it.">admin@bitfromtheblock.com and include the Transaction ID of your purchase so we can manually verify reciept of funds.

Option 3:

• Goto: https://wallet.mynxt.info/
• Signup: ONLINE WALLET and SAVE THE PASSPHRASE (no blockchain download needed)
• Click on + Plugin store and purchase "NXT Assets (pro)" for 99 NXT
• Now fill your new NXT wallet with NXT and you can purchase mining power on the NXT Asset Exchange (NXT Assets Pro - BFTBMining)
• Note: Once installed, a plugin will work with all the accounts in your wallet (i.e. you only need to install a plugin once)

How Much Per Gh?

Right now the BFTB is selling Bitcoin mining power at .30 Cents per Gh which is currently around ~.0013 BTC.
 Hashing power can either be purchase on the NXT Asset Exchange at prevailing market rate where purchases have to be made in NXT or at http://bitcoinified.net/mining-store/ where you can purchase with BTC or XPY.

 

Mining Power Buyback:
“BftB” retains the right to buy shares without notice on the prevailing market at the prevailing market rate.
 We have no official buy-back policy and use only the current market trading price for valuation.

Disclaimer:
 All investment opportunities come with risk and Bit from the Block “BftB” is no different. Please do your own research and due diligence before investing. We make no promise of returns and every investment carries risk so invest to suit your risk tolerance and invest only what you can afford.
 All shares for sale on this platform are in the form of revenue shares and do not represent any ownership in the company.
 We make no guarantee of results or profitability and want you to fully understand the risk when investing.
 If in doubt Do NOT invest.


**EDIT:** if you are interested in joining the Bit from the Block team, please PM me with your details and what value you feel you could bring to this project.

thank you!

[Dr Charles]

First Dividend Payment Made Today:

Announcement: https://coinsortium.co/announcement.php?id=334

Listing: https://coinsortium.co/security.php?ticker=BFTB

[Dr Charles]

Surprise coming for shareholders this weekend

[picolo]

First Dividend Payment Made Today:

Announcement: https://coinsortium.co/announcement.php?id=334

Listing: https://coinsortium.co/security.php?ticker=BFTB

Too bad you didn't get any public investment from forum members.

I see you are on Reddit  : https://www.reddit.com/r/coinsortium/ Same company.

Fees are well explained https://coinsortium.co/fees.php

[Dr Charles]

Yes share purchases have not been as fast as I would have liked but nothing great gets built in just a couple days

with the recent second dividend paid, BFTB also increased the GH allocated to shareholders previous to the IPO closure from 2TH to 3TH which seems to have spark a couple more share purchases. I know people in the crypto world are wary of start ups but once they see BFTB can be a good earning entity and pays every week as promised. I believe the project will gain a little more traction.

Also, on Hashtalk I got posed the question regarding the ROI timeframe for those who purchase shares. Here was my response in case anyone has the same question on BCT. :


Question: "@DrCharles, what kind of mining fees are involved here? If each share is $0.65 (approx), what kind of daily/weekly percentage return do you forsee (in the good ol' days, a Zen gave about a 1% daily return)? Will your enterprise provide better returns than investing directly with GAW?""

Answer ROI will be somewhere in the range equal to GAW and other services and heres why....In the case of BFTB, the funds that are raised will be split between several different cloud mining companies and some actual mining hardware. The advantage of buying shares in BFTB over GAW or any other cloud service by itself is that your are limiting yourself to risk exposure. BFTB will operate much like a Mutual Fund where your 1 share is equivalent to 1GH of SHA mining power... but instead of you just purchasing 1 GH of SHA from a single company and hoping that company does everything they claim they will. Your share/GH is basically built from the combination of 1GH from multiple mining companies and the dividend paid is equal to the average return of those companies over the weekly period.

Each cloud service sells their mining power at different prices and they each have different mining/maintenance/service fees. At this time I cannot provide an accurate daily ROI because once the funds are raised, economies of scale will let BFTB purchase mining power in bulk from various providers which would allow for the best possible price. The combination of three things will allow an accurate ROI calculation:

1.The total hashing power purchased at each provider. The more power purchased with each provider allows for the scaling of operations and discounts to take effect which will lower the ROI time past the point you would be at buying GHs at retail prices. Also, If the full IPO sells, then we can provide the best possible returns through large purchases... "It takes money to make money"

2.The price of each Bitcoin at the time of purchase. The more each Bitcoin is worth, the more mining power BFTB can purchase. The higher the price, the more power BFTB can provide to its shareholders through the form of dividends without the shareholders needing to purchase extra shares.

3.Current difficulty when operations begin. One of the most common things left out of ROI calculations is the constant and variable difficulty increases. BFTB will focus on SHA256/Bitcoin mining because we have just gone through the entire past year of HUGE difficulty increases and it has finally started to slow down. ASIC chip manufacturers are finally reaching the point where making smaller more efficient chips is getting very difficult...Since the chips won't be getting too much smaller, the only way to improve performance will be to redesign the architecture on the boards. Scrypt is just now about to hit the explosive curve that the Bitcoin network went through and it will be evident in the difficulty increases. Any Scrypt MH over a couple dollars will quickly get driven down just like what happened to Bitcoin Mining power.

Once the IPO closes, the goal is to have an "ROI Tracker" of some sort built into the BFTB website where shareholders can see a daily, weekly, and monthly ROI status. Currently during the dividend payout each week, a snapshot of the weekly mining revenue minus allocations is posted for shareholders to see.

So... long answer short. ROI time will be roughly the same as other companies except BFTB will be providing bonuses to shareholders through extra dividends which can affect your ROI in a positive way. Remember... the goal of BFTB is to provide an easy way for people to have a diversified mining portfolio much like a mutual fund but by only purchasing mining power in one location.. no need for multiple accounts, ROI spreadsheets, customer support, etc.

If you have any additional questions let me know :grinning:

Thanks.

[picolo]

Yes share purchases have not been as fast as I would have liked but nothing great gets built in just a couple days

with the recent second dividend paid, BFTB also increased the GH allocated to shareholders previous to the IPO closure from 2TH to 3TH which seems to have spark a couple more share purchases. I know people in the crypto world are wary of start ups but once they see BFTB can be a good earning entity and pays every week as promised. I believe the project will gain a little more traction.

Also, on Hashtalk I got posed the question regarding the ROI timeframe for those who purchase shares. Here was my response in case anyone has the same question on BCT. :


Question: "@DrCharles, what kind of mining fees are involved here? If each share is $0.65 (approx), what kind of daily/weekly percentage return do you forsee (in the good ol' days, a Zen gave about a 1% daily return)? Will your enterprise provide better returns than investing directly with GAW?""

Answer ROI will be somewhere in the range equal to GAW and other services and heres why....In the case of BFTB, the funds that are raised will be split between several different cloud mining companies and some actual mining hardware. The advantage of buying shares in BFTB over GAW or any other cloud service by itself is that your are limiting yourself to risk exposure. BFTB will operate much like a Mutual Fund where your 1 share is equivalent to 1GH of SHA mining power... but instead of you just purchasing 1 GH of SHA from a single company and hoping that company does everything they claim they will. Your share/GH is basically built from the combination of 1GH from multiple mining companies and the dividend paid is equal to the average return of those companies over the weekly period.

Each cloud service sells their mining power at different prices and they each have different mining/maintenance/service fees. At this time I cannot provide an accurate daily ROI because once the funds are raised, economies of scale will let BFTB purchase mining power in bulk from various providers which would allow for the best possible price. The combination of three things will allow an accurate ROI calculation:

1.The total hashing power purchased at each provider. The more power purchased with each provider allows for the scaling of operations and discounts to take effect which will lower the ROI time past the point you would be at buying GHs at retail prices. Also, If the full IPO sells, then we can provide the best possible returns through large purchases... "It takes money to make money"

2.The price of each Bitcoin at the time of purchase. The more each Bitcoin is worth, the more mining power BFTB can purchase. The higher the price, the more power BFTB can provide to its shareholders through the form of dividends without the shareholders needing to purchase extra shares.

3.Current difficulty when operations begin. One of the most common things left out of ROI calculations is the constant and variable difficulty increases. BFTB will focus on SHA256/Bitcoin mining because we have just gone through the entire past year of HUGE difficulty increases and it has finally started to slow down. ASIC chip manufacturers are finally reaching the point where making smaller more efficient chips is getting very difficult...Since the chips won't be getting too much smaller, the only way to improve performance will be to redesign the architecture on the boards. Scrypt is just now about to hit the explosive curve that the Bitcoin network went through and it will be evident in the difficulty increases. Any Scrypt MH over a couple dollars will quickly get driven down just like what happened to Bitcoin Mining power.

Once the IPO closes, the goal is to have an "ROI Tracker" of some sort built into the BFTB website where shareholders can see a daily, weekly, and monthly ROI status. Currently during the dividend payout each week, a snapshot of the weekly mining revenue minus allocations is posted for shareholders to see.

So... long answer short. ROI time will be roughly the same as other companies except BFTB will be providing bonuses to shareholders through extra dividends which can affect your ROI in a positive way. Remember... the goal of BFTB is to provide an easy way for people to have a diversified mining portfolio much like a mutual fund but by only purchasing mining power in one location.. no need for multiple accounts, ROI spreadsheets, customer support, etc.

If you have any additional questions let me know :grinning:

Thanks.

"Once the IPO closes, the goal is to have an "ROI Tracker" of some sort built into the BFTB website where shareholders can see a daily, weekly, and monthly ROI status. Currently during the dividend payout each week, a snapshot of the weekly mining revenue minus allocations is posted for shareholders to see.

So... long answer short. ROI time will be roughly the same as other companies except BFTB will be providing bonuses to shareholders through extra dividends which can affect your ROI in a positive way. Remember... the goal of BFTB is to provide an easy way for people to have a diversified mining portfolio much like a mutual fund but by only purchasing mining power in one location.. no need for multiple accounts, ROI spreadsheets, customer support, etc."

It's enticing, I like the idea of diversifying your mining portfolio to decrease the risks.

[tsm13]

why would i pay you a premium to do something i can do myself?

[Dr Charles]

why would i pay you a premium to do something i can do myself?

Not everyone wants to do it themselves. That's the whole point of the project. You can purchase a single share or more and have it managed for you.... Similar to investing in real mutual funds except you are not purchasing equity or ownership but rather mining power (GH) and you do not need to have a "Hands On" approach to mining.

Bit from the Block allows an avenue for miners to have a diversified mining portfolio without needing to invest their time after having already invested their money.

If you have any other questions, please do not hesitate to ask.



EDIT: In other news... Dividend #3 was paid today. See announcement below:


"Greetings Shareholders,

Dividend #3 has been made today. For a snapshot of this weeks mining operation, a picture can be found here: http://tinypic.com/r/13yqcm9/8

Also, stay tuned for some developmental news regarding the advancement of the Bit from the Block Project.

Best Regards,
Robert
~Bit from the Block Project"

[Dr Charles]

Dividend #4 for BFTB shareholders has been paid today. See announcement here: https://coinsortium.co/project/announcement/376

"Good Morning Shareholders,

Dividend #4 has just been paid. To recap some events this week, shareholders have voted to use some of the funds raised to purchase an Antminer S4 to add 2TH of mining power to shareholder allocations. We received the shipping notification that the unit shipped from Bitmain's facility in China yesterday 11/29/14. We must wait for the unit to reach the US prior to being able to pay dividends on that additional power.

Also, BFTB has reached out to a small business mentor in our area to receive some expert advice on how to strategically grow in the Bitcoin mining environment and how to avoid some of the pitfalls that many other mining based companies have run into. We believe that we have a solid strategy for scheduled, healthy, and incremental growth that will allow us to prosper in the long run and not just to make a quick buck for our early shareholders.

As usual, if you have any questions, comments, concerns, or suggestions... please reach out to us on Hahstalk.org at https://hashtalk.org/topic/16505/bit-from-the-block-mining-ipo-diversified-mining-1gh-at-a-time

For a snapshot of this week's mining operations, please see here: http://tinypic.com/r/1pjda8/8

Best Regards and Thank Your for the Opportunity,
Robert
Director of Operations- BFTB

[RiverBoatBTC]

Who are you and why should people trust you...

If you say cause  ARDEVA verified you that is not good enough cause they verify felons..... and do 0 background check.

[Dr Charles]

Who are you and why should people trust you...

If you say cause  ARDEVA verified you that is not good enough cause they verify felons..... and do 0 background check.

You know as well as I do that nothing that can be posted in some forum can identify a trustworthy person. Trust is built through actions... not words. If you are not comfortable buying shares, I encourage you to just watch my actions and those of the BFTB project. Then make your decision... This is not a "Once in a lifetime opportunity!" or a "Limited Offering, You Must Join Now!" This is a project put together for the purpose of being able to provide a diversified portfolio of different cloud mining providers and offering it on a per GH basis through BFTB share ownership. I am not offering a way to "get rich quick" or to earn a "guaranteed ROI in 60 days!" Being a share owner provides a little bit of diversification and investment security by not putting all your eggs in one basket. Say one day a certain cloud mining provider shuts down.. rather than miners losing all the contracts they purchased and be stuck with nothing, BFTB would rebalance mining power in the project into other providers so that share owners always earned their shares worth.

Please read the disclaimer at the bottom of the project listing. I would love to have you be part of this project but if you are not comfortable with it then please don't invest your money.

[Dr Charles]

Announcement Made: https://coinsortium.co/project/announcement/393

[Dr Charles]

Dividend payment should be completed no later than 1pm EST.

[Dr Charles]

New BFTB Operational Progression Vote being held https://coinsortium.co/project/vote/27

[katafrag]

hi , is it possible to revote , i made a mistake and hold a bunch of these beautiful babies

[Dr Charles]

hi , is it possible to revote , i made a mistake and hold a bunch of these beautiful babies

Katafrag, thank you for your interest in the BFTB project. I have had multiple members request a revote. I am currently taking note of those asking and I will provide an update regarding the revote process shortly.

thank you.

[katafrag]

Ok thanks , i think a lot of people made the error because of the reverse questioning

[Dr Charles]

After numerous emails in the last 24 hours a re-vote has been posted with a better description of how the voting works.

best regards,

Dr Charles

[katafrag]

thanks that's real crytocracy

2014-12-15 18:44:17   2014-12-17 00:00:00   BFTB Operational Re-Vote   Voted: No

[Dr Charles]

thanks that's real crytocracy

2014-12-15 18:44:17   2014-12-17 00:00:00   BFTB Operational Re-Vote   Voted: No

thank you for being part of the project.