Topic: [GB] TerraMiner IV 0.55 BTC = 100GH/s with 12 months hosting and NO fees (Read 1617 times)

The share price has been reduced to BTC0.55 to reflect the increase in bitcoins value over the last few days.

Yeah everyone was a newbie here once, but not every newbie is asking you for your bitcoin

I don't have anything to hide. I'll be giving my complete contact details to all shareholders including email, skype, phone and business address so I won't be hard to find if they have any problems.

Your big problem is you have no rep here on bitcointalk and have only made 4 post that's going to make most people apprehensive.

Thanks for the vote of confidence LDR  

1. The $4000 difference is for the 12 months of hosting at terraminehosting.com which is included in the share price.

2. Sorry, a typo on the Web site. I've corrected that link to terraminehosting.com as it states in the post above.

3. It's quite possible that it won't be profitable, but unless CoinTerra drop their prices between now and then there isn't much we can do about it. $10K US is what it will cost anyone who wants order a TerraMiner IV now, and have a good degree of confidence that it will be mining for at least a year. The only way of reducing the total cost would be to source cheaper hosting. Personally I'll sleep a lot more comfortably knowing CoinTerra have sourced and will stand by the hosting provider, rather than having it in the back room of somebodies house, no matter how much I might trust them.

4. Yep that March order does work out a bit cheaper up front (BTC0.50 for 100GH/s), however that price doesn't include hosting and electricity costs which will be taken out of whatever it mines. There is also a 3% fee, so take that off your actual hash rate too. My group buy price includes a guaranteed year of hosting and no additional fees, everything mined is returned to shareholders.

5. I am happy to use any recognized escrow service that the purchaser likes, they just need to add the cost of any fees the escrow service may charge onto their price because I am running this group buy as a free service. I understand that I'm new around here so there is no reason to trust me, I don't know how I can change that in the short term.

Regards,
Paul.

WARNING This feels like a scam or wasn't thought out well.

1. Terraminers only cost $6000. 0.65/share * 20 = 13 BTC. 13 BTC * 791 (current price on BTC-E) = $10283.
In the post OP says that he will not make any money on the order, yet there is a $4000 dollar difference  .


2. http://terraminer.com The supposed host site is literally just a picture and is not directly linked probably for this reason. The actual host that is linked to from Cointerra's homepage is legit and its url is: http://terraminehosting.com/


3. I just did the math and this won't be profitable for shareholders in the slightest. Since only the April batch of TerraMiners left this will definitely lose money per share at this price.

http://mining.thegenesisblock.com/a/2427de2533


4. 0.0065 per GH/S is way too high for April. Here is one that is cheaper and it is a March order: https://bitcointalksearch.org/topic/gb-closed-cointerra-terramineriv-march-0-of-40-shares-available-394941

5. No esrow, or trust level on this site.

This is a group buy for a CoinTerra TerraMiner IV 2 TH/s Bitcoin miner. For this group buy there are 20 shares with each share costing BTC 0.55 giving the owner 100GH/s per share. The share price includes all running and hosting costs for 12 months through terraminer.com, the CoinTerra backed hosting referal service. All hosting partners chosen by CoinTerra are selected for their experience in running Bitcoin mining operations and their short distance to TerraMiner assembly plants, allowing for quick delivery, setup and configuration.

There are no additional fees or running costs, every bitcoin the TerraMiner earns will be returned to the shareholders in full, down to the last Satoshi. Shareholders can nominate and vote on the mining pool and settings that the TerraMiner IV will mine with. Wherever possible all shareholders will be given access to the miner and mining pool interfaces to allow them to monitor the miners performance.  All mined bitcoins will be distributed to shareholders monthly.

At the end of the initial 12 months of hosting the shareholders can choose to pay for an additional 12 months hosting and continue mining, or sell their shares to somebody who is willing to cover the hosting costs. Shareholders will have the opportunity to nominate and vote on changing hosting providers after the initial 12 month hosting contract expires. When no shareholders can be found that are willing to cover the hosting costs the TerraMiner IV will be sold by auction and the proceeds distributed to the shareholders.

How To Order and Pay for Shares
Shares can be ordered through my web site, http://www.megahashing.com/. Choose the number of shares you would like and when you complete the checkout process a unique bitcoin payment address For your order will be given to you. Transfer the required amount to that address and your done. When all 20 shares are sold an order will be placed with CoinTerra and TerraMiner. If you change your mind you can cancel your order at any time upto when the TerrMiner is ordered, your bitcoins will be refunded in full.

Since the TerraMiner and hosting will be paid in US dollars if bitcoins value exceeds $1100 US at the time the order is placed with CoinTerra the share price will be reduced and the excess bitcoins will be refunded. If the bitcoin value falls below $900 US before the miner is ordered the shareprice will have to be increased, shareholders who do not want to cover the cost will have their orders cancelled and payments refunded.

I am running this group buy as an affordable way to get in on the next wave of ASIC bitcoin mining. I "profit" by purchasing shares in the group buy at the same price as all other shareholders, and I benefit from the bitcoins we mine at the same rate as all other shareholders. I do not charge any fees for running the group buy, monitoring the miner, or processing shareholder payments, its my way of saying thank you for helping me make my bitcoin mining more affordable.

If I've left anything out, or if you have any questions let me know.