Hello ASIC Community Miners.
I have receiced an identity document and a recent bill from Foofighter to the same Person as on the ID including a receiving address. I also will receive the order confirmations.
So if the assembly is ordered and burnin provides order confirmations at his assembly service I can definitely check if he ordered the service or not. The Asic chip buy is already very transparent because Foofighter could provide verified payment addresses for the stated chip orders.
In the case Foofighter scams investor funds, I will provide every investor with Foofighters identity.
As scam I would evaluate a behaviour of Foofighter where damage to his investors is caused on purpose. Examples given:
Foofighter got the miners delivered but doesn't announce it or doesn't make payouts / stops his payouts respectively, is inactive in the forum for over 1 month.
If he announces his absence (vacation or hospital stay) the amount of time will be elongated respectively.
He is inactive in the forum for over 6 months and is also unavailable to reach in general.
I will exclude every circumstance where the chips deliverer or the assembly service of the ASIC devices is to hold accountable and Foofighter has no influence.
Example given:
Avalon doesn't deliver the ASIC chips.
Any circumstances beyond Foofighters control , (eg.: Foofighter house burned down, he gets shut down, the miners get robbed, etc.) in that case Foofighter has to prove that this was really the case.
One or more mining devices get damaged without inappropriate influence through Foofighter and cannot be repaired without additional costs.
The mining is not profitable any more, which means the power costs + the handling fees are higher or equal to the mining outcome, in this case Foofighter can only sell the miners and split the selling revenues proportionally to all investors, or the investors can have their mining device sent home to them depending if the amount of shares they are holding is equal to a full mining device. (this option would require to pay additional shipping and packaging costs which have to be paid by the investor)
Every other matter will be evaluated by common sense.
I have already provided this kind of service for other Projects:
yxts Avalon Gemeinschaftskauf:
https://bitcointalk.org/index.php?topic=157128.0;topicseenThe beginning Candoos Avalon Community Mining, now listed as Cado.AvalonB3 on Bitfunder:
https://bitcointalksearch.org/topic/avalon-update-lesen-gemeinschaftsprojekt-255-ghash-158935and
Candoos BFL Community Mining:
https://bitcointalksearch.org/topic/bfl-sammelbestellung-mit-hosting-160797*I am personally not involved in this project and neither have I taken any payments from Foofighter or any other involved body, but I reserve the option to invest in this service myself.
** The purpose of this service is only to provide investors with some limited amount of security (Identity of the provider is known) while at the same time enable him to stay anonymous, which is understandable if you plan to host expensive mining equipment.
I don’t guarantee that this service is risk free and/or profitable.
***If somebody quotes this text it will be unchangeable bound to the forum.