It certainly is amazing. Since this has gained so much traction:
1) Are you planning on writing up a contract? My father has informed me I need a contract, however I don't see how I can make anyone sign anything, much less EVERYONE. I am not sure what I'm going to do about this. The money is starting to get too large where maybe a contract is definately needed. I just don't want everyone to turn around and call me a scammer because I all the sudden require a contract.
2) Will you be looking into storage locations, etc? It seems that at ~.12 Kwh you were planning on running this at home (many industrial settings seem to have lower electricty costs). I will definitely look into beefing up security around here, but I still plan to run these from home. I might get a nice security system or something. But, again, I'm only charging 3%, so all this stuff will really eat into my profit, maybe making it not even worth doing.
3) Insurance? Does Avalon offer warranties, etc? Avalon doesn't give warranties, but I could get renters insurance which will cover everything inside my duplex.
All of these things are up for negotiation. If you guys want to take part of the proceeds and beef up security, get good insurance, etc. I'm all for that. I am just interested in collecting funds right now. We can sort through all the details later.
Ok B.Laws here
By your advert, and taking money you have already have entered into and written up a contract, your terms were clear imho, so dont waste time/ money writing up a contract you have alredy executed and written up. I mean you can if you wnt to jut to have it all in one place
You would probally be wise to take out at least insurance
The other issue is, the insurance while it may cover the value of the rigs it will not cover the cost to return BTC if BTCs go up
one other question was you do not seem to have a delivery date on these avalons? When are they supposed to arrive and who covers the shipping insurance?
It's not a contract if there is no explicit agreement between two parties. The way it's looking now it seems like a bunch of people just sent him bitcoins... No offense but I just don't see this ending well as is the case with plans that are rushed into and not formally organized. For pete's sake, he doesn't even have an OTC. I don't see any insurance for any of you guys, even if he doesn't have the intentions to scam right now. Who know's what the future holds?
You may argue the exact meaning of terms, but his terms are failry explicit. Sure there are some terms left out eg inurance, etc etc etc. he does however have sufficent terms and consideration for a contract (though acourt may have problems with bitcoinas good consideration). Yes its risky, but then perhapsthere isreward where there is risk, by explicit agreement you may be refering to a meeting of the minds. The courts are full of people who thought they had specificly thought thye knew what the had agreed to but find out infact they had not. I highly recomend some contracts 101 for you
He clearly has invitation to treat, specific terms, and recieved conisderation ( good conisderation maybe not?). There would be a bundle of imported terms from his local jursidiction. further there may also be equitable relief for actions based on his promises/ representations and any detrimental reliance on them.
Not that it would ever be worth pursueing in any court or forum
Me I trust the guy, and will take a punt
He answers my question quickly, know whats amps his circuts are on, knows what 3 phase power is and displays he is running rigs already, and has returned depositers money, for what a lot of organisation effort on his side. He appears to have a passion for it.
Sorry about my tryping on ipad and always was a crap speller.
B.Eng.Hons/B.Laws (LLB)
Also he may not be in the usa as 240 v? 110 v there isnt it....Australia has 240v
Ok... thank you trolls for your expert advice. Surely no one has ever thought of these things you're all saying before, so I thank you for pointing them out...
