Hey guys,
the project has moved on from announcements to the Services section:
https://bitcointalksearch.org/topic/m.2276338
Please post only in the new thread from this post on.
Thanks!
Bestn regards
Foofighter
Topic: [ANN] Community Mining - Avalon ASIC chip Miner- 11GH/s (Read 2943 times)
Today I got additional Feedback from akka, which comprehend a few use cases which arent already included in our FAQ and the main conditions to what will happen if the service ends respectively what options does the investors have with there shares in this cases. Also we will change the Share splitting of the devices to a round number, either 5 parts(1,1gh/s) or 6 parts(916Mh/s).
We will implement this changes until tommorow and hopefully we can then proceed soon to akkas identity approval and the open payments.
regards
Foofighter
We will implement this changes until tommorow and hopefully we can then proceed soon to akkas identity approval and the open payments.
regards
Foofighter
Hi all,
so we made a new reworked concept, based on the community mining attempt suggested by yxt and akka.
Now I am awaiting your feedback for this new project proposal, what I am still not sure about is the payment adress, if we should use a single or multiple adresses.
Best regards
Foofighter
so we made a new reworked concept, based on the community mining attempt suggested by yxt and akka.
Now I am awaiting your feedback for this new project proposal, what I am still not sure about is the payment adress, if we should use a single or multiple adresses.
Best regards
Foofighter
Thanks for the positive feedback @akka and yxt!
I agree with both of you, initially my thought on this project was just to provide a better pyramining because i had in mind that a community mining Project would provide a lot of risk to us.
But now I am definatly convinced that a community mining attempt is the best solution for both the investors and us.
We will work this solution out in the next days/hours and will release it to the community, I hope you will also give us your well appreciated feedback on the worked out concept.
Basically, as akka mentioned a Share(1GH/s per share?) system would be the best solution but without a buyback of the given out shares, because this would at the end again provide a high financial risk for us.
Thanks so far for your feedback!
Best regards
Foofighter
I agree with both of you, initially my thought on this project was just to provide a better pyramining because i had in mind that a community mining Project would provide a lot of risk to us.
But now I am definatly convinced that a community mining attempt is the best solution for both the investors and us.
We will work this solution out in the next days/hours and will release it to the community, I hope you will also give us your well appreciated feedback on the worked out concept.
Basically, as akka mentioned a Share(1GH/s per share?) system would be the best solution but without a buyback of the given out shares, because this would at the end again provide a high financial risk for us.
Thanks so far for your feedback!
Best regards
Foofighter
I agree with yxt here. Pyramining has already shown that with all the risks involved in Mining 10% is a rather bad deal.
I think making the reward floating would be a better way to handle this.
If the project is highly profitable, investors will get more out, if something happens and the difficult goes to the sky they will get less.
A way to archive this would be, f.e. make timed accounts. A account stays active until the initial investment is paid back, at this point a timer starts, keeping it active for additional 6 Month, so everything mined in this 6 month is profit for the investor. After that the hardware is yours.
Or you go immediately the way, that the investor gets the hardware for as long as it remains providable. In comparison you get a percentage for hosting and providing the service.
I think making the reward floating would be a better way to handle this.
If the project is highly profitable, investors will get more out, if something happens and the difficult goes to the sky they will get less.
A way to archive this would be, f.e. make timed accounts. A account stays active until the initial investment is paid back, at this point a timer starts, keeping it active for additional 6 Month, so everything mined in this 6 month is profit for the investor. After that the hardware is yours.
Or you go immediately the way, that the investor gets the hardware for as long as it remains providable. In comparison you get a percentage for hosting and providing the service.
bfl sucks but that's not the point.
fair profit / risk allocation & I'm with you.
fair profit / risk allocation & I'm with you.
worst case is you get 0% back
But with the
But with the
Quote
Your income is composed by direct Bitcoin mining revenues
termThis would only be the case if we scam our investors. Our current ROI calculation is based on a assumption that the current difficulty level increases by 100%, of course nobody knows what the difficulty level will be in the coming months..
Quote
I bear full risk, but have only 10% chance.
It makes much more sense to invest in a community mining project.
The same risk much greater profit opportunity
This offer is good only for you.
It makes much more sense to invest in a community mining project.
The same risk much greater profit opportunity
This offer is good only for you.
If the difficulty would raise to a higher level , there will still be mining profit. As i have seen, nearly all community mining projects out there, work with the hardware of BFL or other companies where nobody can even guess if or when they deliver there devices.
We think the asic chips from Avalon + the assambly service is the best bet and still the cheapest solution on the market right now.
Best regards
Foofighter
worst case is you get 0% back
But with the
I bear full risk, but have only 10% chance.
It makes much more sense to invest in a community mining project.
The same risk much greater profit opportunity
This offer is good only for you.
But with the
Quote
Your income is composed by direct Bitcoin mining revenues
termI bear full risk, but have only 10% chance.
It makes much more sense to invest in a community mining project.
The same risk much greater profit opportunity
This offer is good only for you.
Worst case seems to be a year to get the 110% back, which is still good.
Now, there is still a part of risk/trust issues.
Now, there is still a part of risk/trust issues.
As mentioned before , I will provide my identity to a trusted forum member and he will post a verification of this, I hope he can provide this in the next days.
best regards
Foofighter
Maybe I do not understand the concept.
But why should anybody finance you a mining Farm for 10% interest?
After you payed out 110% i am out and you still have all the hardware, right?
But why should anybody finance you a mining Farm for 10% interest?
After you payed out 110% i am out and you still have all the hardware, right?
Because of the 10% interest.
If you invest at your bank you mostly dont even know what the bank is going to do with your money..
And yes, your assumption is right.
regards
Maybe I do not understand the concept.
But why should anybody finance you a mining Farm for 10% interest?
After you payed out 110% i am out and you still have all the hardware, right?
But why should anybody finance you a mining Farm for 10% interest?
After you payed out 110% i am out and you still have all the hardware, right?
If enough people are interested a trusted member of the Forum will be provided with my identity data in order to get a more trustful relationship.
Interested here.
Hi guys,
I just talked to a well known Hero member, and I think he can provide an approval of my identity and other infos (what does he do with my identity in certain cases) in the next few days.
We are also going to decide the final necessary details for this project by the end of this week and will provide this info to you.
Hopefully we can start to take payments also by the end of this week.
I hope for your ongoing support
And dont hesitate to ask anything if something is not entirely clear to you.
Best regards
Foofighter
when u will launch ... ill test u out
Hi rammy2k2,
thank you for your support!
We are currently thinking about an additional bonus for early supporters, so stay tuned - more infos will follow soon!
Best regards
Foofighter
when u will launch ... ill test u out
Hey guys,
just updated the #1 post with more information on this project.
If you have any questions just ask, we also have now pre ordered 2 mining units, so your investment can immidiatly start working.
Best regards
Foofighter
just updated the #1 post with more information on this project.
If you have any questions just ask, we also have now pre ordered 2 mining units, so your investment can immidiatly start working.
Best regards
Foofighter
Hi Theraty,
we plan to run this project over the forum, I dont think a project like ours would fit in the scheme what Bitfunder provides.
But more Infos are coming in the next days!
regards
we plan to run this project over the forum, I dont think a project like ours would fit in the scheme what Bitfunder provides.
But more Infos are coming in the next days!
regards
Will you be giving the option of buying and selling shares on bitfunder or will it be more like pryamining?
Whats the extimated total rewards return time in months?
It depends on different factors and nobody knows them for sure now, but I think we can make this somewhere between 3 and 12 months.
Please note that this is just a rough estimation, we will provide more data on this when they are available to us.
regards
Whats the extimated total rewards return time in months?
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