Topic: HIVE.MINER: (CANCELLED) - page 3. (Read 4386 times)

Okay, so you have manic depression. Do you really think with such a case you are in the position to be holding peoples' coins for a long period of time? You just said you do have horrible days sometimes, well you were pretty close to killing yourself the last one you had. What if you killed yourself or hurt yourself that ended you in the hospital? No one would get their funds back since you're dead or be left waiting for awhile to be able to withdraw. Do you think its responsible or smart for anyone to take that risk that you go missing or just stop communicating? No its not. Investing after considering in the volatility and success of one company/idea is one thing, having to include the risk of someone's mental health is another thing. Thus, in my opinion you should not be handling an IPO at this time Klye.

Please stop with the immature remarks such as "hate boner" or other comments, this does not help your credibility. I have said my thoughts and good luck, however I would advise others to not invest. This is my stance.

Not going to lie, I sold off all my activemining 2 days ago. The november wait was a little long for me and the coins could have been used better elsewhere..

I didn't realize there was a reason not to trust me. Make you a deal, You and KoS can go over to another thread and say nasty things about me. And I'll stay here and start my mining project up.

Well, lets throw it all on the table now then shall we? I suffer from manic depression.. And sometimes I have bad days. Thanks for calling it to everyone's attention that I get a bit overly sad at things sometimes. Pretty sure everyone has had those days where they think throwing themselves under a bus might be a good thing. But at the end of the day we are still here aren't we? You're crying about nothing in reality KoS. I like to roll the dice sometimes and every so often I have a bad day. But to accuse me the way you do is unjust. And frankly makes you look like a dick.

What will you get from this? Some percentage of shares, or a fee? Also, what about electricity costs?

Not sure what you are getting at then?
I think KoS has a hate boner for me or something. Guy is always yelling nasty things.

The mine is set to come online late this month / early next month. That is when the backbone becomes available.

Nothing like a little Activemining vs Labcoin competition in good fun?

Just don't get your hopes up too much. They do reject a lot of IPO's.

Another alternative is to-do the IPO here and prove your "Klyemined" and then request a IPO at a later date on BTCT with maybe a second round released. (This would also allow previous shareholders to trade their original shares on the exchage)

But you may need to prove you can mine and pay a dividend first.

All IPOs are available to be critiqued. I have been heavily critiquing a couple investments and also positively commenting on some as well. One I've been negative on its evaluation as of late is casinobitco.in, I comment on many investments. All I have done is critique and offer true thoughts on it. People should know about you wanting to kill yourself after you lost a week or two back. Nothing I have said is not true or slander. If anyone has any questions about someone claiming I scammed please do not hesitate to contact me. All of those who accused me have been proven a scammer if you look into their own accounts.

Thanks sir! I couldn't figure out how to get an IPO made!
I'll look into this!

Quit spreading FUD KoS. You are an untrustworthy over opinionated dickwad.

I'm not gambling here. I'm mining, two different things my "friend".

Look at KoS feedback and trust before you even consider a word of what he says to be even remotely true.
Guy is a low life scammer.

With that said I do enjoy gambling, But these funds and this project are not connected to gambling in any way.

Klye you have a gambling problem. Whenever people have given you a BTC or two for your "projects" you end up gambling them on Just-Dice. You need to get your shit together with gambling before you consider putting peoples' monies at risk as well.

Just fyi people, hes lost about 5 or 6 BTC from just-dice and made comments he wanted to kill himself on a couple occasions. Imo he is not mentally fit to handle a long-term investment project.

Good luck Klye.

Why not create a btct asset?
https://btct.co/create

"Phase 1": The first mining hardware is going to be purchased by myself out of pocket at a cost of under 1BTC and produce a small but impressive 3 GH/s!! This ratio of <1BTC per 3GH/s is achieved through my partnership with BarnTech and  makes use of his custom designed Bitfury powered DrillBit USB (DBT) hashing at ~2.7GH/s. The HIVE.MINER mine will also feature his Bitfury powered DrillBit 8 (DB8) mining system hashing at ~21.6GH/s once the mine progresses onwards into "phase 2" and beyond.

The launch of "phase 1" of this project will be powered initailly by a Drillbit Thumb USB (~2.7GH/s) hashing along side a single AsicMiner BE USB (~334MH/s), This will give the initial "phase 1" mine 3GH/s. This is assuming only %0-%25 of the shares are bought. to bring in a 21.6GH/s DB8 mining system for the "phase 1" launch. I know that this isn't a *huge* amount of hashpower.. But "phase 1" is set to generate just over 0.42BTC its first month given that when deployed the network difficulty will be over 105 Million by my estimates. Regardless of phase 1 starting at 3GH/s or 21.6GH/s I have great hope for this project!

Having worked with BarnTech, I've received a very fair discount on his mining equipment. This gives us a slight edge to get ROI faster! And what a faster ROI means is that the mine will be able to add hashing power quiet quickly in the upcoming phases after the "phase 1" launch!
Being able to purchase a ~2.7GH/s miner at a cost of 0.60BTC and given the ~334MH/s hashing power of the AsicMiner BE at a price around 0.13BTC that puts us at a total of ~0.73BTC per ~3GH/s. The remaining 0.27BTC will be put towards shipping costs. Anything left over shall be put into the profit pool. In the event BarnTech cannot supply me the miners at this price I will pay the extra out of my own pocket to insure the smooth running and ramp up of this mine. The DrillBit Systems are shipped from Australia.. and needless to say it's not cheap to have them shipped half way across the planet. Alternatively if the shareholders rally and purchase all remaining shares before Barntech ships the first DrillBit USB, I will be bringing in 3x21.6GH/s Drillbit 8 boards(DB8) to add to the hashpower / dividend making in phase 1!

(If all shares are bought before BarnTech is ready to ship the first Drillbit USB outlined in "phase 1", the "phase 1" could start at ~74GH/S with 3x DB8 miining systems!)

The DrillBit USB's (DBT) and Drillbit 8 (DB8) boards are in production now and the final coding is being finished as I write this. The prototypes have been populated and everything seems to be good, Just waiting on the guy responsible for programming to finalize his code. It's been said by BarnTech that these units should be in hand before the end of this month, giving a small advantage over the network difficulty increases that are surely coming.

This initial 3GH/s of hashing power is estimated to make ~.45 BTC the first month (*OR* if all the shares are sold before "phase 1" hardware is finished up and shipped, we stand to mine ~4.13BTC) given the estimated difficulty rating of the Bitcoin network at launch (Estimating at around 105 Million network difficulty). Of course we all know the difficulty will rise at least 20% per a difficulty change. So if we factor in lets say 25% difficulty rise the initial 3GH/s mine will ROI in roughly 2 months or perhaps less. After that it will start printing Bitcoin profit at a relatively steady rate, which will be used to pay dividends to share holders more quickly and invest in more DB8's.

The mine shall be hosted in my apartment unless a better place can be found, I do not pay for electricity nor internet so the cost of hosting the mine is absolutely zero to me and any potential investors. This means more profit and higher dividends / quicker payouts for all involved with the project. All hardware will be in an air conditioned space with a fan providing airflow. As someone with an electronics background I can tell you first hand heat is a huge enemy of technology. I've already got a laptop waiting to host the mining hardware. Powered USB hubs will be purchased if needed but for the initial mine it will not be necessary. (nor will they be needed if the mine goes full on DB8 21.6GH/s systems)

Profit pool: In order to stay on top of the difficulty rate I am proposing initially that 30% of the Bitcoin mined by HIVE.MINER go back into hardware in order to grow the mine to battle the rising network difficulty, Not only will this insure the mine stays profitable, But will also make dividends / payouts grow greatly with time. The faster we can build up this mine the more profitable it will be for all shareholders.  Most mining shares seem to have dividends /payouts that go down the longer you hold the share, the intention behind the the design of HIVE.MINER is to ensure the opposite happens. In theory every ~2 months the Hashrate of the HIVE.MINER project should double, drowning any worries of dividends becoming weak. The remaining 70% of the Bitcoin mined shall go to the shareholders as dividends tallied daily.

After some months the mine should eventually hit "critical hash" where it is able to pay for its upgrades in 2-3 weeks of mining. At this point the HIVE.MINER project will start to pay out 90% of Bitcoin mined to shareholders because it will only need 10% of Bitcoin mined by it for upgrades to compete with the difficulty rising. The goal is to eventually grow the mine to the point where it no longer needs 10% of the BTC mined for upgrades to compete with the difficulty level increases. At which point in time 95% of the Bitcoin mined will be paid out to shareholders. The remaining 5% will be used for repair and maintenance of the mine and its hardware.

The first step of this plan is already put in motion by me! The 3GH/s HIVE.MINER "phase 1" project should be up and running in the first few weeks of October if not earlier. I have received the AsicMiner Block Erupter (333MH/s) in the mail and it is hashing away happily!


Initial hashrate will be 3GH/s at a cost of <1BTC to myself. This will be doubled / tripled / quadrupled etc etc as shares are bought! Whenever the amount of shares bought equals the purchase price of the 21.6GH/s DB8 mining system one will be bought and brought online.

I was thinking to purchase ~2.7GH/s DBT to make up the majority of miners.. but after crunching some numbers and talking to BarnTech we've decided that the most profitable route is to go with the DB8 systems hashing at ~21.6GH/s a piece.


Shares:

I will work on a BTCT.CO IPO once 25000 shares have been bought and held for 1 day.

HIVE.MINER will be offering 100000 public shares @ 0.0001BTC per a share.
The mine itself will consist of 100000 private shares.

*IF* majority shareholders see it fit to put the private shares up for sale, then 3/5ths of the top 5 shareholders will have to agree to make them available. Initially I was going to have full control over selling these shares, But decided to allow the top 5 shareholders vote and decide!

Shares sold: 1704 out of 100000

Shares may be traded/sold with other users, But must be done so in a public manner on this post (And later on BTCT.CO once I have it set up) so dividends are paid to holders in proper amounts.

Any and all share trading *can* be done on this thread. Please also PM me your traded amount so I can keep it for my books.

The HIVE.MINER venture reserves the right to buy back any amount of these shares at fair market price at any time.
In the case it is decided that the HIVE.MINER venture is to buy back shares, Both the HIVE.MINER President (KLYE) and Vice President (Tom)

Also, anyone holding 51% or more of the 100000 available public shares will have say in direct say in dividend payout percentage / future technology investments and be personally appointed by me (KLYE) "Vice President of HIVE.MINER"!

Shares can be purchased @ 0.0001BTC a share here: 1MiNEZrBQ1Uo4dWQ3WZhbDgaZHiEYp6JPd

Please PM me TXID *or* post it in the pages below so I can keep tally of who has bought what in my books.

Dividends will start being paid the first day the 3GH/s is online. Although buying shares now entitles you to your share's worth of the AsicMiner Block Erupter's daily mining profit. But this will not be paid out until the first step of the HIVE.MINER project is online and hashing.

Also, I have asked bitcointalk.org user "Dooglus" if he would act as a sort of "dead man switch" and take care of assets if I for some reason am unable to perform my duties, and or are killed / sick / crippled. He has promised he will take care of things should something happen to myself.

Hopefully we can get "phase 1" shipped and hashing by mid October or early November 2013.
I'm excited to develop this project and to help it evolve and flourish! Thank you for your interest in HIVE.MINER!


Equipment online:
1 X AsicMiner Block Eruptor

Current HIVE.MINER hashrate: 335.5MH/s producing roughly ~0.0025BTC / 24 hours.

Cheers to everyone!
Happy Hashing,

HIVE.MINER President

KLYE