Topic: [ANN] [MPF] Manta Pool Fund | Low Fees | Proven Methods (Read 1638 times)

Fund pool closed, MPF1 will be issued shortly.

EDIT: Issued.  Mining conditions are not optional right now, will keep you posted.

About 5 hours remaining.  9 shares in the fund thus far.  Mining conditions are not ideal right now, could be a couple days until we start renting hash.  Will keep you posted in the thread here.

Thanks for your input and well-wishes! 

What makes you doubt it will work as stated?

Interesting idea, but I doubt that it will work this way. Nevertheless, i will watch the project / coin. Good luck!

I've received feedback from some people potentially wanting to take part in the fund voicing concerns that this sounded a lot like LTCGear.

MPF is set up in such as way as to not make a 'ponzi' scheme possible.  What MPF does is give anyone interested in participating an opportunity to pitch in BTC that is used to rent hash to mine BTC.  Upon expiration of timer, the opportunity to participate is finished.  

All of the funds available in the pool are then used to rent hash from nicehash and pointed at pools (ghash.io, slush, Eligius, etc) that have the most favorable conditions to mine - this may be done in one day, it may be done over the course of a week or longer, it all depends on conditions and choosing the right time to mine.  I generally spread the effort over three or more sessions.

Once all funds are expended on rental fees, the mining rewards are paid out as described in the ANN.  There is no opportunity for anyone to come in after this fund is closed.  This way, there is no way latecomers' funds can be used to pay off original participants in order to pad profits.  

An easy to understand parallel would be a group of people pitching in $20 each to rent hash and splitting up the rewards once all of the original funds have been used on hash rental.

About a day left until MPF1 closes.  I can be reached in this thread, through PM on BCT here, or in skype (Manta Mine) if you have any other questions about how this works.  Thanks!

Thanks Bones.  We have two coins bought so far, appreciate the support fellas.

This does look interesting.
I have known Manta for awhile and he has offered me many tips and advice on what to do and what not to do in crypto. I am fairly new to the whole scene so it is good to have someone who isn't just after my money to discuss things with. Manta is a stand up dude and I believe he is onto something with this...
I have invested .1btc into it and I will see along with the rest of you if his method pans out or not, after all he does say that this is a bit of a trial run. I created my account today to show support for this and add my own .02, after all I am sure many of you have "gambled" much more off of less details.

ktfutura,

I've mined many coins, some have been profitable, others not so much.  I have found this method of BTC mining to be profitable time and time again and it doesn't support the small fraction of this community consisting of scam devs, scam exchanges, or scam traders.

Look, I understand the skepticism that exists in this community and it is there for good reason - there are scams again and again and again.  I see only a very small number of 'legit' altcoins with legit developers out there.  

What I am doing here has nothing to do with trading/mining  alts, it is for BTC mining only.  There are no markets involved, there is no 'winning' at the expense of someone else 'losing'.  The ASIC owners that we rent from on NH get the amount they've asked for rental fees, the pools get the % of profit they've asked for to participate in their pool, the investor gets a fair return based on mining rewards.

I am doing everything I can to ensure this process is as out in the open as possible.  All the wallet addresses used are available and can be seen on the blockchain.  There is no intent to scam or steal anyone's BTC here.  The availability of this information will ensure there is no pyramid scheme happening in the long term, you'll be able to see the flow of BTC directly from the pool, to the asset creation wallet, to the investor.

I encourage anyone to read over my post history as you have done and decide on my character / intentions themselves.  I've done my best to point out what I thought were scams when I've had reason to believe things weren't as they appeared to be.  

I'm available on skype (Manta Mine), anyone is welcome to message me about MPF, or any other topic for that matter.

i hope crowdsale.io provide this Ico

hey scammer

you've barely fucking been around.

account registered: April 11, 2015

you invested 0.35 BTC into VERSA. you obviously have shit picks https://bitcointalksearch.org/topic/m.11915494

you mined SHROOMS [SHRM]

you don't know how a fucking block explorer works: https://bitcointalksearch.org/topic/m.11876413

you mined SPKTR https://bitcointalksearch.org/topic/m.11734302

that coin is fucking dead on Yobit https://yobit.net/en/trade/SPKTR/BTC

fuck off scammer. mining new alts is dead.

you're just stealing money you lost because you're a shit miner and a shit trader.

have a fags on here know how to mine with and dump anyway.

Starin, the crowdsale is limited by time only.  Having 100 shares offers no advantage over 1 share, the payout will be proportional to your holdings.  Once the countdown expires, sales will be closed and the assets issued.

Yes, this is a 'one time asset' or as I've dubbed it "single run".  You are correct that MPF1 won't be of any value after the funds are expended on rental fees.  The reason a colored coin asset is being utilized here is twofold -

1. to aid me in accounting and distribution of rewards

2. to simplify the transparency of how the funds are being routed and returned to MPF1 holders 

Dependent upon community interest and building credibility for myself in this realm, I will offer assets that may hold a longer-term value by way of reinvesting the mining rewards into hash rental and paying out profits as dividends.  I just wanted to start small with this to determine how the community reacts and shows interest in it.

Thank you for your input.

Hey man, this looks interesting. I think it might better fit in Securities section. Is there a crowdsale limit? Or you will go with whatever you end up with at the end of the launcher?
Oh and if I understood this right, this is a 1 time asset, meaning when the profits are given, MF1 will not mean anything, did I get this right?

If you can mine bitcoin with rented hash profitably, by all means do so.  If you don't have the time / expertise to do it profitably yourself but wish to speculate on my fund, that's fine too.

Understandably, people are going to be skeptical about sending bitcoin to this or any fund for that matter.  All I can give you is my word that I'm not out to steal your BTC, same as any altcoin dev that posts in this forum does.  Hopefully some of the people I've gained rapport with during my time on this forum, and crypto in general, will post in this thread and invest in this mining fund - its legit.  I am not out to risk my reputation for small multiples of 0.1 BTC. 

Thanks for posting mrz213.

	MPF serves as a consolidated mining fund utilized to mine BTC at various mining pools during optimal return periods.  Shares of the fund are distributed using colored coins that are carried and tracked on the bitcoin blockchain.  Colored coins were chosen in order to aid in accounting and distribution of rewards and to promote transparency in the process.   Mining pools use various methods to determine a miner's share of each block's rewards, some of these methods are more easily 'gamed' than others.  Determining the best times to leverage large amounts of hash to maximize rewards is at the heart of my method.  I consider many variables including, but not limited to, net hashrate, pool hashrate, rental prices, and pool trends in order to determine the best time to dedicate hash to a particular pool.  This method has been very successful and I have the confidence in this system to offer it to the community in order to dedicate increased funds / hash to the process.
	Participation in the MPF is as follows:
	1. Download a colored coin friendly wallet or sign up for an online one such as Coin Prism.  Fund this wallet with the amount of BTC you wish to use to purchase MPF1.
	2. Send increments of 0.1 BTC to akCrn2uR2vH9pfBnueTmj1UaTCvE9gD1RgR.  Upon close, MPF1 will be issued to you at a rate of 1 x MPF1 for 0.1 BTC.  It is IMPERATIVE you use a colored coin friendly wallet when making your initial transfer or the MPF1 will be lost.
	3.  Once pool is closed (timer at bottom of ANN), all BTC will be transferred to 1KYYm18nzjvQaVfJJ9hCmWc5cn1vAyJnuU.  This step is necessary in order to create and issue MPF1.  You will, in turn, be issued 1 x MPF1 for each 0.1 BTC you have put into the pool.  Any remaining dust will be given back to you at this time (for instance, you send 0.15 BTC, you will receive 1 x MPF1 and 0.05 BTC - partial shares are not allowed).
	4.  The BTC is then transferred to 3JLnmqJiXjVuESmmzDEt36v2KacP3za7ie (Nicehash account).  This will be completely used for rental fees over one or more mining sessions.  It generally takes approximately one week or less for this to happen, dependent upon current mining conditions.
	5.  Mining rewards are sent to 1KYYm18nzjvQaVfJJ9hCmWc5cn1vAyJnuU (same address from step 3).  Upon confirmation and award of all mined funds, individual rewards will be determined and distributed.
	6.  Rewards are calculated using the following methods:
	a) Net Gain (profit) - Each share of MPF1 will be rewarded with the original amount sent (0.1 BTC) along with 80% of the profit per MPF1.  20% of only the profit is retained for fund fee.
	b) Net Loss - Each MPF1 is rewarded with an equal amount of the mining rewards.  I do not keep anything in this scenario.
	7.  This is the end of the cycle.  The MPF1 you were initially issued will still be available to you, but will not have any further value for the Manta Pool Fund.  Dependent upon community interest, additional single run MPFs (MPF3, MPF5, etc) will be created and this cycle repeated.  Even number MPFs (MPF2, MPF4, etc) will be utilized for longer-term cycles in which original pool amount is rolled back into the mining fund while profits are distributed.

	MPF1 is not intended for trade on any exchanges nor will it realistically have any value after reward distribution.  Rewards will be transmitted to the same address that initially "purchased" MPF1, THERE IS NO VALUE IN BUYING THIS ASSET FROM A THIRD PARTY AFTER THE INITIAL POOL
	A more comprehensive explanation of the CoinPrism process can be found here.