Just thought I would share a project I am currently working on.
The Bit from the Block Mining Project
There will be 20,000 shares available during the IPO
Shares Remaining:
~14,824.58https://coinsortium.co/security.php?ticker=BFTBhttps://hashtalk.org/topic/16505/bit-from-the-block-mining-project-diversified-mining-1gh-at-a-timeBit from the Block’s (BftB) main mission is to raise 40 BTC in initial capital funded by BTC shareholders. Your contributions will be used to purchase Bitcoin Mining hardware and Cloud Mining Services.
“BftB” will be diversifying mining power expansion through hardware purchases hosted at a local professional data center and a various assortment of cloud mining services. Each Share represents 1GH of SHA mining power for .002BTC per share which allows for great investor returns without having to deal with the headache of owning mining hardware or dealing with cloud mining vendors.
Along with this, is the potential for expansion, into new and already identified Bitcoin related markets. These markets would be the margin trading and hedging of BTC price as well as residential/commercial property management through a BTC payment structure.
Capital Allocation:-90% to invest mining hardware and cloud mining services.
-5% to invest in R&D for Future “BftB” projects
-5% to invest in Reserve fund for Shareholder Dividends.
Net Operating Profit allocation-80% to Dividends to Shareholders which will be paid weekly.
-10% to Reinvest in More Mining Power
-5% to R&D of Future Expansion
-5% to Facilitate mining management and build Reserve Fund for Future Shareholder Dividends.
Profit: Total Mining Revenues - (Maintenance Fees + R&D Allocation + Reserve Fund Allocation) = Net Operating Profit
R&D Funds:-Initial Research and Development (R&D) funds will be used to complete the website
www.bitfromtheblock.com . This would allow for an “Contributors Section” where mining performance can be seen and tracked as well as provide an area for investors to communicate with each other about the direction of “BftB” and what investors would like to see, current updates, and future plans. On top of that section, the ultimate goal is to have an online store where products can be purchased with BTC as well as having an “Education Corner” to learn all about BTC and a “Earning Corner” where visitors/Investors can have a one stop goto list to earn BTC for free.
Reserve Fund: -The purpose of the reserve fund is to cushion shareholders against a decline in BTC mining profitability. In the event that mining profitability declines to the point where our current mining income cannot support shareholder dividends, the reserve funds will be used to pay shareholders until additional hashing power can be added to our mining farms or until alternative measures can be decided upon. The reserve fund would allow for timely and manageable shareholder dividend payments in any scenario that may arise in the uncertain landscape that is Bitcoin.
Dividend Production until IPO is Over:Investors that purchase shares will have 2+ TH of SHA mining power to generate dividends until the IPO is over. Once the IPO has completed, the mining power allocated for mining dividends prior to IPO closure will be rolled into the total mining power for all investors. Bit from the Block reserves the right to increase mining power allocated for dividends prior to closure of IPO at will.
“BftB” Will begin mining operations if/when 100% of IPO is sold but reserves the right to start sooner if IPO sales do not amount to the initial target funding amount. Once mining operations begin, shareholder dividends will be issued the next week after. Shares do not represent ownership of Bit from the Block and are only an investment to generate revenue for holders.
The first divined will be paid this coming Sunday 11/9/14.A little tip on how the dividends will work this Sunday and going forward:
Before the IPO closes:There is currently a little over
3TH of SHA mining power dedicated to early share buyers. So the dividends prior to close will work as follows. Until roughly 3,000 shares are sold, all current holders will actually receive a higher payout than 1 GH equivalent. For example, if only 1,500 shares are sold by this coming Sunday prior to dividends, then 3,000GH/1,500 shareholders= roughly 2GH payout equivalent to each share holder.
It works in the opposite way too. If 3,500 shares are purchased by Sunday: 3,000GH/3,500shareholders= roughly .86GH payout equivalent to each shareholder. Remember, the 3TH is only a
gift to shareholders until IPO closes and the real dividends start.
As stated in the listing, BFTB reserves the right to increase the hashing power allocated to dividends prior to IPO closure at any time. All dividends to shareholders prior to IPO closure are basically bonuses until operations begin.
After the IPO closes:Each share purchased is equivalent to 1 GH of SHA mining power shares (DO NO REPRESENT OWNERSHIP OR EQUITY in BFTB OF ANY KIND). After the IPO closes, every Sunday you will receive a payout equivalent to the returns of 1GH of SHA mining power over the week from Sunday to Sunday minus fees, maintenance, etc.
If you have any questions please let me know.
Share 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.
Best Regards,
Dr Charles
