Introduction
This is the first round of a series of auctions for Bitfountain products. 10 Block Erupter blades, the same as the ones used in ASICMINER's actual deployment, are available for bidding in this round. We start with this experimental auction to collect the user criticisms for improving our products, as well as the market reaction for deciding how to release the hashpower over the world.
The Blades
Each of them outputs at least 10G hashes per second. They work well separately, yet are extensible to larger scale. Our entire farm is built up from them. The blades in our mining farm have been running during the last two months. From our experience, they are stable and robust. We list the key features of this product here:
Source:
Post by FriedcatThe Auction Ends in
Timer removed. End time: 2013-04-19+16:00:00
Cost of acquiring the last spot:
60.5BTC
Our Pooled Coins:
Advantages: -
0 Electricity cost!
Electricity is free with my rent and I only plan to get ONE of the boards so space is also accounted for. Also you are guaranteed to pay the least cost in the auction since we will make sure we are in the Bid.- Only
3.5% Management fees!
Because I have stake in this (I would buy shares in this as well), I would be doing the management anyways. So I will not require a lot.-
Ownership sharing!
You don't only share the profit you share ownership and voting power for the hardware. For example if we made enough then the majority decided to auction the hardware. So be it!-
You break even
25% first without my management fees!
Self explanatory, Up to making 25% of the hardware paid price. I will not impose any management fees-
Collateral with
escrow!:
I own 250 shares of ASICMINER and I will happily offer them as collateral in case that I decided to rip the people off (Which I will NOT do). I am open to suggestions for a confiscation escrow of either the maintainers of ASICMINER Pass-Through(s) or ASICMINER itself through Friedcat.
After establishing initial trust with the shareholders I offer full amount of the cost to buy the hardware in a 2-signature address with a trustfully escrow.
How to join:Send your Bitcoins to this address:
1ASicXyq4BQqX383J6YMjofpFmPP24V5YXMake sure you own the private keys of the address you are sending the coins from as they are how I would send back the returns.
How will you calculate my percentage?For example if we got a board for 50BTC but the address had 65BTC in it. The overflow is 15BTC. If you sent 10BTC then you are entitled to 20% of the 15BTC overflow and 20% of the profit.
What if we didn't get the spot because we did not pool enough coins?I will just return the coins. Will regret and without our ASIC miner....
