Topic: ICO - Golden Fleece - mega mining datacenter to work on 100% green energy! - page 5. (Read 8163 times)

Thank you for following us and for recommendations, we'll fix as soon as possible.

At least you are more ethical this time with your comments. Why are you so angry on GFL  relax, if you do not like us, it's ok, we still like you 

Once again, thank you for your suggestion, comments and crtisism. We also suggest you, come back to us in 3-4 month and check out how credible we will be for you.
We have an ambition to say that there is no any single token that will have more transparency and credibility then the GFL before and after the ICO. We will be auditted by one of the big4 audit companies (we finilise negotiations in couple of weeks) and post reports on our web-site in every thee month.

Have a great day!

this mean youre project only cloud mining site
why not direct investment in youre cloud mining, same with genesis-mining and more
not explain spefication coin in here

Once again, thanks for your honesty!

Everyone is entitled to their own opinion! Everyone is free to make their own decision. I believe in hard work and dedication, and in turn results will show.
Some people invest in ETH, others invest in BTC, others invest in LTC. It's certainly an open market and you are not forced to pick one 

With that in mind, I will be buying some GFL!

Can you show us Invoice from Bitmain or Bitfury or where are you Purchasing ASICs from ? Bitmain is SOld out, do you have any special connections with any manufacturer ?
I guess you dont.

You said you gonna mine with GPUs Bitcoin Dash and Litecoin ! That you really need to research ! GPUS= DIfferent algorithms, NOT sha-256, Scrypt or X11

Please come back in 3-4 Month.

Thanks for trying

We told that we will mine MAINLY with GPU, but also with ASICs.
I wrote about portfolio of coins that we plan to mine: 50% ethereum, 20% bitcoin (with ASICs), 10% dash (asic), 10% monero, 10% zcash.

Actually i'm interested in ICO, but times have a little problem with ANN and web, please fix it to be more convincing enthusiasts, i wait for ICO, good luck

Dear Magicune500,

First of all, thank you for interest in GFL but mind what you say please in public place.

You may consider answers "newbie" but the thing is that your account itself here is "newbie", look at your status. Either your accounts are constantly blocked because of exactly such irrelevant and abusive messages, or you are just really new in this market with significant amount of articles read on ICOs and speaking out comments without analysis.

Anyway, thank you for your suggestions and wishes.

We hope you enjoy your day; relax a bit and analyse details before making choice of investing (if any) in other projects rather then GFL.

Have a great day!

Best,
Golden Fleece

Brothers,

GPU's Do not Mine Bitcoin, Dash, Litecoin.

You have to do more research about SHA-256 Algorithm and X11 algorithm that are mined by ASIC chips.

GPU's dont mine Bitcoin since 2011.

Your answers are Newbie answers for begginers.

I am out and I suggest everyone to stay away, JUST FOR THE FUCKING SAKE OF ICO'S STAYING MORE REPUTABLE AND HONEST !!!


CANCEL ICO, DO MORE RESEARCH, BUILD SOMETHING FIRST, COME BACK IN 5 MONTH AND, I WILL HELP YOU OUT

THATS ALL FROM ME

GOOD LUCK

Thank you all for these questions and skepticism. In my eyes, these are not negative questions but rather helpful questions. As I like to say, "a dumb question is a question that isn't asked".

As an investor/trader myself, I would have the same questions as all of you have, and it seems that Vakhtang has answered them in their entirety.

There are many ICOs that come out for the sole purpose of taking your money. I fell victim to one such ICO (coinjob) as I was one of the first 10 people to send my 1 ether to them as soon as they launched and I STILL have not received any Jobis back. I asked the owner, Max, on how I could acquire my 1500 Jobi but he stopped responding. I am sure some of you have fell victim to these scams as well and I do not stand for such people or projects.

Golden Fleece is different in a sense that they are honest and transparent. So far I have seen in this forum that despite the constant bombardment of skepticism and doubt, they have stood firm and honest will all inquiries and are even willing to personally talk with you.

In my cryptocurrency trading career, I personally have not seen any member(s) of an ICO/company who are willing to answer any questions asked in their entirety or even waste their time answering small inquiries I have, keeping in mind that I am the type of person to ask questions before committing. When I meet someone who is able to not only take my skepticism, but is ready to answer my questions in such detail, I personally would say they are not here to steal my money.

Golden Fleece seems small and might lack a fancy website like all other ICOs, but the point of an Initial Coin Offering from my understanding is for a company to open up trading (offering of coin) to the public in order to raise money to improve the business. I am sure once funds come in there will be a fancier website and all the other quirks people want to see.

I will end this post by saying this, trading is a risk. You will lose money to scammers (as I have had the unfortunate experience)/ and by not being a skilled trader, or you might make a big profit in a company that is starting up and have lots of potential (FOMO is always the worste). Always trade with money that you are ready to lose, and if that isn't what you are doing then my advise would be not to trade.

I may get some love/hate responses to this post, and that's ok. Feel free to ask questions/message me.

Trade smart and be safe!

Sorry for late response. I had interview on national TV yesterday and we were blown away by messages and meeting inquiries locally.
Today we had meeting with Techno Park (Georgian Innovations Agency), we talked for two hours, they expressed interest and support for our project. They will provide legal/financial/business consultancy by Deloitte, they will provide us with 24/7 modern office infrastructure and will help to promote project both locally and internationally.




1. You have 96 GPUS ? What Are they ?         - we have MSI RX580
2. What are you going to Be mining Exactly ? Altcoins, Specify ? What about Bitcoin, Bitcoin Cash ?      - we plan to have following portfolio (may change slightly): 50% ethereum, 20% bitcoin, 10% dash, 10% monero, 10% zcash.
3. How many more GPU's have you ordered ? Can you show us the invoice and the payment made and expected date of the order arrival ?       - we have ordered RX580 sapphires and P106-100. sorry but I cant provide information about our suppliers, it will also bring their stocks down, which is not in our interest.
4. Who is your main supplier ? Do you have any further connections with them ?     - we have three main suppliers, which we consider for bulk purchases, one is in Dubai, one is in Singapore and one local representative for peripherals.  
5. 96 GPU/7= around 13 mining rigs. My friend has 12 Mining rigs at his garage, why should I give money to you and not to him ?       - This is PILOT mining datacenter, this is not collateral for your investment, nor it is to show our financial input.
6. Why do you need 50 Million USD ? Can you Specify allocation of the funds ?    - Datacenters will be built in several stages, it is not one stop shop. First stage should be finished by February if all goes well. Fund allocation after project is full funded will look like this:

Grid connection        1,238,542      2%
Servers                   40,000,000      80%   (including networking infrastructure)
Building                     1,333,333      3%
Ventilation/Cooling        266,667      1%
Other costs             1,000,000      2%
Working Capital           2,000,000      2%
The rest amount will be spent on coin repurchase.          
The aim is to spend as small amount as possible for anything other then GPU/ASICs, thus bringing down $ cost / MHs.


7. Are you going to buy mining just with GPUS?       -No, ASICS also, but with smaller share ~20%
8. What is you profit after electricity costs and maintenance currently at your 96GPU & hashrate?      - We pay around 700$ for electricity per month, hashrate is ~2,800 MH/s, Profit is 5-6 k $.
9. Can you provide us with the info to look at your hashrate on blockchain ?         -Sure:     http://dwarfpool.com/eth/address?wallet=3f5ad69e3609c5e8f0922a44f5e7baa0ed9dec78
10. Why do you think you can raise 50 Million so easily ?             -Nobody says it will be easy, though we are determined. We don't plan actually raising all of that amount through crowdfunding, we are negotiating with several investment funds and private investors, we already booked 25% and will book another 10-15% of total cap for private investors. We will announce names once deal is signed, I hope it will be before ICO.
EOS did it because it has technology behind, great team, motivation and a specific goal, and it hasnt succeeded yet, same goes with Tezos...           -Their business model is software based, our business model is hardware based. For hardware projects 50 million is not a big deal at all.

11. Why do you need to mine Etherium, to Issue your Own token ? Why just issue your token based on etheirum blockchain ?       -We are considering double blockchain option, working on it. We don't want to delute total number of coins, trying to figure out technical ways.
12. Are you just selling your Coin, technology behind it ? or what are you exactly selling ?            -We are building mining datacenters, for funding this project we issued our token, which we are selling.
13. Will token holders be holding shares in the company that you will register, will they own assets as well eg: GPU's, or even land ? As an Investor what would I own if I invest in your company.        -Tokens represent shares in the company, however there is no legal binding and no legal obligations, just our intent and promise to repurchase tokens with generated revenue. However we are willing to offer legal shares in the company for large investors, though their equivalent tokens should be put on escrow.



I would love to fund projects like this only if something is already build and I (or crowdfund) can help to expand but I will give you some examples what Bitfury can offer and I quote:
We do have our 7.5PH, 1.1MW Blockbox AC available.
Price starts at USD800K, based on a 50/50 profit share which takes effect after you recover your initial 800K investment. The Box will be hosted at our facility in Canada for a USD50K monthly fee to cover electricity and other expenses. Minimum investment is USD5M.

I hope I am allowed to disclose my special offer from bitfury, which might not be offered to someone else.
So why you ? and Not Bitfury who has been on market since 2013, who has already built something and is asking money for expansion...        -They are mining only bitcoin, they have high maintenance costs, high entry barriers.

I got offer on table to pay 800K and Owe 7.5Peta Hash SHA-256 Power, and with only 1.1 megawatt energy usage. 7.5 Peta hash is 7500 Tera Hash.
Why do you need 50 Mil, how many peta hash do you think you can achieve or how many THS of Dagger-hashimoto for example ?          -We will have ~2.5 TH/s Dagger-hashimoto power.

1. You have 96 GPUS ? What Are they ? 
2. What are you going to Be mining Exactly ? Altcoins, Specify ? What about Bitcoin, Bitcoin Cash ?
3. How many more GPU's have you ordered ? Can you show us the invoice and the payment made and expected date of the order arrival ?
4. Who is your main supplier ? Do you have any further connections with them ?
5. 96 GPU/7= around 13 mining rigs. My friend has 12 Mining rigs at his garage, why should I give money to you and not to him ?
6. Why do you need 50 Million USD ? Can you Specify allocation of the funds ?
7. Are you going to buy mining just with GPUS?
8. What is you profit after electricity costs and maintenance currently at your 96GPU & hashrate?
9. Can you provide us with the info to look at your hashrate on blockchain ?
10. Why do you think you can raise 50 Million so easily ?
EOS did it because it has technology behind, great team, motivation and a specific goal, and it hasnt succeeded yet, same goes with Tezos...

11. Why do you need to mine Etherium, to Issue your Own token ? Why just issue your token based on etheirum blockchain ?
12. Are you just selling your Coin, technology behind it ? or what are you exactly selling ?
13. Will token holders be holding shares in the company that you will register, will they own assets as well eg: GPU's, or even land ? As an Investor what would I own if I invest in your company.



I would love to fund projects like this only if something is already build and I (or crowdfund) can help to expand but I will give you some examples what Bitfury can offer and I quote:
We do have our 7.5PH, 1.1MW Blockbox AC available.
Price starts at USD800K, based on a 50/50 profit share which takes effect after you recover your initial 800K investment. The Box will be hosted at our facility in Canada for a USD50K monthly fee to cover electricity and other expenses. Minimum investment is USD5M.

I hope I am allowed to disclose my special offer from bitfury, which might not be offered to someone else.
So why you ? and Not Bitfury who has been on market since 2013, who has already built something and is asking money for expansion...

I got offer on table to pay 800K and Owe 7.5Peta Hash SHA-256 Power, and with only 1.1 megawatt energy usage. 7.5 Peta hash is 7500 Tera Hash.
Why do you need 50 Mil, how many peta hash do you think you can achieve or how many THS of Dagger-hashimoto for example ?

Hello Magicune500

First of all thank you for your interest and time spent to review our project.

Let me elaborate on points you have made:

CONS:
1. It is not quite a right time to do this type of ICO        -Thats subjective point, can you state arguments for it?  
2. Etherium Mining is not profitable                              -What do you mean by not profitable, what is your Required Rate of Return? Payback of less than a year is very profitable and achievable with GPU mining, with current ethereum prices.
3. There is no 20 Megawatt of electricity power in Georgia at cost of 5-6 Cents           - I can argue with this, pleas read our post regarding electricity prices, you can find sources with latest historical electricity prices.
4. Specify: Is it 0.05 or 0.06 cents per kw                         -It is 0.050.06 USD - or in other words 5-6 dollar cents per kw/h
5. 0.05 Cents in REP of Georgia is Only at free economic zone  which is Located only at www.TBZ.Ge                    -I can also argue with that, I work in Electricity company and have market knowledge,  the only difference for FIZ is that you dont pay VAT on electricity purchased, so thats 18% over price, but you know this VAT is not an expense at the end but differed tax asset which you can claim.
6. There is no hydropowerplant in Georgian Black SEA.        - No one claimed Hydro Power Plant in Black Sea, we were reffering to Hydropower Plants that are in western part of Georgia, NEAR Black Sea cost.
7. There is impossibility to exist 20 Megawatt of electricity in Todays Georgian Economic Situation.         -I don't get this point, what do you mean? One single Enguri HPP has 1300 MW power, and there are dozen hpps with more than 20 MW power production.
8. To generate 20megawatt of HydroPower you have to invest around 2.5 MILLION USD, especially in the SEA.       -Same point, we didn't mention HPP IN the SEA, I have never heared of Hydropower Plant in the sea.
9. Nobody has yet made this much investment in hydropower Electricity in GEORGIA                           -There are several HPP cunstructed and in construction process which have several million dollar investment, I will name a few: Nenskra (1 billion USD), Shuakhevi HPP (400 mln USD), Namakhvani HPP (700 mln USD) and many other smaller ones, you can google them. BUT we are not building HPP, we newer claimed it, we will just use their power.
10. This type of investment is never done in Georgian without GEORGIAN GOVERMENT being in CHARGE        -I can also argue with that, I am directly and indirectly involved in many large projects done in Georgia. Georgian government supports foreign direct investment, they adore investors and help them as much as government can help.
11. You do not have any hardware bought at this moment.         - We have currently 96 gpu-s in 24 mining rig-s shown in photos, we have made another order already, we have bought land for construction of final datacenter, and we own building in which current pilot mining datacenter is located.
12. What type of hardware you want to buy with the gifted money that people would invest?        -This is not charity, please be respective to what we do.
13. Website in World Press                           - I have stated many times that we are working on new website, sorry for delays.
14. Team = non existant , foreign names          - All three foreigners Georg Van den Berg, Moses Ilunga, Leon Lim are in my facebook friends you can find them and contact directly, I will post here links to their profiles in the same order:

https://www.facebook.com/georginizmir
https://www.facebook.com/moses.ilunga
https://www.facebook.com/leonlimjh

Pros:
1. Georgia basically legalised Crypto currency and One of the major Georgian bank is trading it.        -Oh finally Pros thank you, thats true point.
2. Bitfury is really located in Georgia and has expanded since 2013          -True
3. Georgia really has free economic zone with no taxes and electricity cost with 0.05cent (The problem is they cannot provide electricity, you have to go out find your own source, that is physically impossible)       --There is NO link between FIZ and electricity! Being in FIZ doesnt grant you any better conditions in finding cheap electricity. The only difference is in taxation scheme.
4. Ministry of Justice of Georgia uses blockchain technologies to register land ownership in Georgia.        -Also true

Sorry if my comments were emotional.
And thank you once more for spending your precious time to write this post.

Today I had interview on national TV with very good feedback.
I have inquery from  http://techpark.ge/ Georgian Inovations Agency will meet them tomorrow.
On Friday I have meeting with Liberty Bank (Emoney), will try to negotiate putting our coin on their website for exchanging.

I feel like asking:
1. Do you guys even know how much is 20 Megawatt of Energy ?
Bitfury Georgia mining farm generating up to 45megawatt and holding around 3.5% of hashing power of the total hashing pool. Their vote in the recent BTC fork was up to 3%
2. What coin do you guys want to mine and what hardware do you want to purchase with that 50 million USD?

I wouldnt invest in Just etherium mining, maybe diversifying would help you a lot, such as Scrypt, X11, SHA-256, Dagger-Hashimoto (UBIQ,Zcash) Pascal, Sia

Contact Bitmain, Contact InnoSillicon. If you somehow raise 50 million they will provide you with D3's, S9's, L3+'s, but in December, January time)))

What Graphic cards are you going to be buying? Source ? Radeon, Nvidia ?
By the time you build the plant Radeon/Nvidia would produce new GPU's that would be sold out.

20 Mega watt = 10000 S9 Miners
5000 L3+ Miners, and 10000 GPUS

I wish someone could really have 20 megawatt of hydropower in any country at a cost of 0.05cents.

If you reach 500K Goal, count me in for help)) After you reach 1 million, after I know all your hardware sources, your energy source (Real, official documentation), then maybe Id invest, and explain to others why should they

Georgia is very attractive for mining, no wonder why Bitfury started there... But there is physical impossibility to Generate this much power from the hydropower from black sea. there are no windmills at black sea, which belongs to anyone but government (if there is any)

And finally: guys build something first, raise angel investors money, raise some venture capital, reach 1million goal, in the end its a mining farm not a new technology, start mining yourselves, reach some hashpower, eg: 1peta hash (1000THs) of SHA-256, 10000-20 000THS of Dagger Hashimito power, 50 000 Scrypt power, at least 200-300 Ghz X11 power and Come again and I assure you people would invest.
No matter you build on etherium blockchain or waves or A brand new blockchain people will invest, AS LONG AS YOU BUILD SOMETHING FIRST AND PEOPLE WILL FUND YOU TO EXPAND LATER!!!

ANYONE AGREES?

Anyone investing with this type of ICO- will LEARN A VERY GOOD LESSON TO HOW TO LOSE MONEY ASAP

CONS:
1. It is not quite a right time to do this type of ICO
2. Etherium Mining is not profitable
3. There is no 20 Megawatt of electricity power in Georgia at cost of 5-6 Cents
4. Specify: Is it 0.05 or 0.06 cents per kw
5. 0.05 Cents in REP of Georgia is Only at free economic zone  which is Located only at www.TBZ.Ge 
6. There is no hydropowerplant in Georgian Black SEA.
7. There is impossibility to exist 20 Megawatt of electricity in Todays Georgian Economic Situation.
8. To generate 20megawatt of HydroPower you have to invest around 2.5 MILLION USD, especially in the SEA.
9. Nobody has yet made this much investment in hydropower Electricity in GEORGIA
10. This type of investment is never done in Georgian without GEORGIAN GOVERMENT being in CHARGE
11. You do not have any hardware bought at this moment.
12. What type of hardware you want to buy with the gifted money that people would invest?
13. Website in World Press
14. Team = non existant , foreign names

Pros:
1. Georgia basically legalised Crypto currency and One of the major Georgian bank is trading it.
2. Bitfury is really located in Georgia and has expanded since 2013
3. Georgia really has free economic zone with no taxes and electricity cost with 0.05cent (The problem is they cannot provide electricity, you have to go out find your own source, that is physically impossible)
4. Ministry of Justice of Georgia uses blockchain technologies to register land ownership in Georgia.

My Conclusion: We need photos, more information. Nobody know Georgia better than me, and I wouldnt suggest anyone investing in This ICO. For the Sake of ICO's being not just popular and money making machine, but a reliable source of raising capital, that would support real, legit ideas.

What can you build on etherium ? what can you build on Waves? A mining FARM ?
A fake ICO fool people raise money and run away... That would fu.ck up the reputation of ICO's in General, Forever, until SEC regulates it sometime in Future, before that, Big NO NO!
 

I see the attempt though, guys really spend time some time on it... Just not Enough. Its just not convincing. ICO's are not just seeing lots of money in the sea and chasing like Sharks, No guys!


In the end I will tell you one thing...

"Build it first and they will come, rather then fund it first and build it later" Andreas M. Antonopoulos about ICO's (Initial Coin Offerings)

Learn, Dont trade.

how much supply coin for the bounties? ok, I will be looking the information and contact us on Facebook Page.

We have budget for marketing, please see my post above.
Contact us on Facebook page if you are interested.
https://www.facebook.com/GoldenFleeceToken/

Seems not to bounty ..

Thank you for posting! 

                                     Golden Fleece Token added - ICOTRACKER.NET   https://icotracker.net/project/golden_fleece
                                                               https://twitter.com/Kaznachej123/status/891385662015975424