Topic: Initial Financing for Mining Farm Project - page 3. (Read 1642 times)

There are no formal institutions in the crypto sphere that provide systematic knowledge and offer a recognized certificate or diploma. Everyone working in the crypto sphere is self-educated or has learned from others who are also self-educated.

In case we overlooked some additional costs we foresaw the need to allocate "Funds that may not be required but are needed in case if growing prices for infrastructure" and "Funds for repairing needs". All of this can be checked in the Investment Proposal I have already shared. Moreover, we are open to making our numbers more profitable if we hear reasoned advice from qualified specialists.


I already explained why it is not possible to reach the Ukrainian bank for such a loan. Firstly, they do not issue loans in foreign currency. Secondly, loans are now generally not issued for amounts exceeding 10 thousand dollars, and that is for small- and medium-sized businesses. Lending to individuals has simply died due to the conditions in which we now live. If we don't count lots of micro-credital organisations, working tightly with collectors, who offer 5-30% per day! This is in Western countries you can easily go to a bank and take out a loan for a decent amount at 3-5% per annum. In Ukraine, this does not exist. Here 3-5% per month is a divine interest.



Germany has progressive taxes—the more you earn, the more you pay to the state. Moreover, their cryptocurrency legislation is not nearly as developed. In Switzerland, taxes in some cantons are much more lenient, and the crypto sphere is better regulated. There are several levels of taxation in Switzerland. (1) All country, also known as Federal, (2) District/Canton and (3) Local/ Gemeinde. Also they have a corporate tax, which is another branch of a story.

That's what a lawyer is needed for (the necessity of whom many here have doubted, thinking they could perform these functions themselves). A lawyer handles taxation matters and advises on the best location for establishing a company. Some of the lawyer's services have already been paid for out of our pocket, which is why our decision to establish a company in Switzerland is well-founded and backed by professional advice.

Not to diminish your effort and work, but if you need another $150k for further research, I wonder how far you have gone beyond just an idea.
What will happen to the idea if these professional discussions show that your idea is not as viable as you thought (which is quite possible, because as you say you are self-educated), and you overlooked some additional costs... What is the plan in that case?

Of course, the investor will be interested in how you dispose of his money. Especially if he still has no sure guarantee that he will get all his money (plus interest) back. Certainly, he will not be happy if you pay something like $1000 instead of $500, plus, the next investment in the purchase of equipment has yet to arrive.
Otherwise, you don't need an investor, but a bank that will give you a loan. If there are several of you in the team, it probably won't be a problem to give some real estate as a pledge that the loan will be repaid. In that case, you can wash your feet with Dom Perignon if you want, who cares as long as you pay off the debt.

In your case, Switzerland does not have a better reputation than, for example, Germany, but it is certainly more expensive. You also reject the US as an option, I guess Switzerland's reputation in the business world is better.

These consultations and 'conversations' are an integral part of the work. Having an idea is wonderful, but it needs a lot of research work to understand how to make this idea real. The whole idea of the farm, the calculations, and the implementation plan do not come out of thin air. To develop this project, we studied a lot of different information, attended meetings with working miners, communicated with Bitmain and Whatsminer representatives, real estate agents from different countries to learn what location is needed, and representatives of the energy sector. We invested a lot of time and money for self-education. Otherwise, our proposal would have been incompetent, and therefore the chances of the project's implementation would have been very low. We couldn't let it happen.

Attending conferences is a necessity because an investor for the main amount cannot be found somewhere like Walmart; I think that’s clear. Such people need to be sought in specific circles, among like-minded individuals who understand what we are talking about. Finding such people is quite challenging. To do this, you need to look for them specifically in places where these people gather—gather to have consultations and conversations with each other.

The process has progressed as far as possible without additional funding. We have done the maximum amount of work that can be done solely on our own initiative and with our own funds (we are not millionaires, at least not yet). Therefore, in my opinion, the project has made significant progress and is far from being just an idea that is ephemeral and unsubstantiated.


First, what does an unnecessary waste of investor's money mean if the investor gets his money back in full plus a very good interest rate? The investor may even not be concerned about where exactly the funds are going as long as we fulfill our obligations to him. Which we will. There are investors who are primarily interested in making a profit. They won’t be concerned about how exactly we use the funds or what we do as long as we ensure their return in time. For them, it’s purely a utilitarian interest. In that case, we do what we deem necessary, and the investor receives his money back along with the interest. Each party is satisfied. The terms of the agreement are very simple and straightforward. But I have explained, where those $150,000 will be going, our terms are open and purpose and cost of each category is justified.

Second, registering a company in Switzerland opens many doors. Switzerland in general, and certain cantons in particular, especially Zug, have fairly developed cryptocurrency legislation. This clarifies the procedures for tax payments, converting mined coins into fiat money, spending this income, and even the legal registration of cryptocurrency activities. Additionally, a company in Switzerland appears much more reputable than one in, say, Ethiopia, because Switzerland is known for its adherence to the law and protection of parties' rights.

I looked at the costs, and frankly, too much money will be spent on various consultations and 'conversations', and it seems to me unjustified to take a loan + pay interest for such things, while the whole process has not moved forward much.

I assume that you can provide some clear guarantees for this money, some real estate that you own or similar. This should not be a problem if you already have a safe income that will cover the repayment of the loan investment.

btw. Why do you decide on Switzerland, one of the most expensive countries, if the location is not your primary concern? It seems like an unnecessary waste of investors' money, for a longer-term investment, it is necessary to demonstrate a much more rational spending of money.

Look what a great result - it turns out that you can have a constructive dialog, without insults and accusations of what you can not prove

I will try to share the information by evening.

You can start a topic in Reputation or Meta to gain support for your assumptions, if you choose.  I'm interested in the project details!  Asking for them again  

So I am right, and the reason that you were not shown this data is that you did not ask for it, right ? I just want not just to continue the dialog, but also to get answers to simple questions, which for some reason the opponent does not want to answer ! This is not how dialog is conducted, or everyone answers your questions, and you ignore and bypass questions in your direction. Let's be consistent - first you answer my questions, then I will continue my answers to your questions and expectations. Otherwise it's not a dialog but a “game in one gate”, but it will not be like that, it is not an acceptable way of dialog... I understand you are more comfortable and “safer”, but the rules are the same for everyone !

No worries friend - we can move forward. 

Looking forward to all this planning and details!

The answer to your question can be answered by reading this thread. The reason - you never once asked for information, but actively insulted the author and the project with your FANTASIES .
Or if I am wrong - point out in which post I missed your request to the author - “show your calculations, we will discuss constructively” ?

I would do that, but, you know, you’ll just ignore it.

We look forward to reading it!   I wonder why the OP couldn't show us he did more than ten minutes work.  :/

While someone is using his favorite technique of realizing his complexes of “throwing shit on the fan” without providing arguments, sorry - that's what reality looks like, I decided to be a bit more pragmatic and constructive. Yesterday I met with the authors of the project, live.... I always have a lot of questions for such complex projects, as I have experience and understanding of processes and legal nuances (I have my own business in the EU as well). Prior to the meeting, at my request, I was provided with the necessary documentation and what is important - the economic component of the project. It was both to check the seriousness of the approach to the project and to get information that could be checked and on the basis of which I could formulate qualitative questions.
Today unfortunately there is no time to describe the meeting, I will try to do it tomorrow, and to convey my vision and, what is important, but not usual for everyone - ARGUMENTS. If very briefly - the documentation and pre-project preparation alone deserves respect, a lot of work has been done and moreover - it is real work !

PS Separately, I will note - I have not often met projects where people “burning with an idea”, objectively and qualitatively assess the risks.

Quite a relief for me. You also edited your signature once again after my last post so that it again has only two lines exactly for the same reason, I guess. So nobody would accuse you of multiposting. You should explain your ambiguous posts better so that people have a clearer understanding of what exactly you can be accused of.

Geez bozo, I only mentioned my deleted post so you wouldn't be accused of multiposting.    

You are now going on ignore.  

Edit:  I just deleted another post I re-posted in Meta.   I'm not hiding more info!   

Interesting thing indeed.


I believe, everyone else sees this. Specially for you I`ll leave it here, so you won't forget what you have written

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What exactly the point of referring to this third line in your signature (which, by the way, has absolutely nothing to do with the discussion topic here), when you clearly didn't have it at the time of writing the post in the screenshot above, and clearly didn't have it even before? Do you really think someone would believe that wasn’t you who posted all this only just because you added some new line to your signature?

Believe me when I say you are incapable of offending me.
Further more, I've been mining for over six years.  I'm also really good at math, assessing risk, and starting businesses that succeed...  All you've done in this thread is argue against hard facts with nonsense and numbers you've pulled out thin air.  By doing so, you've made it obvious that you've done zero research and that you are not a risk worth investing in.



A small fortune that you don't have.  How is risking $150k doing little to nothing?  That's an annual salary for many, and a lot more for most.  If you consider whole year (or more) of other people's labor as little to nothing, you are not worthy of such an investment.  But you've already made that obvious by how you intend to squander it.

You tell others to read - try it yourself.   

 

DireWolfM14 , I see. You find the statement about your personal incompetence in building a crypto farm insulting. Although the point about incompetence specifically in the matter (not every matter) of building a crypto farm implies from your previous statements. A person cannot be competent in everything, that’s just a fact. Therefore, I see no reason for offence.

Moreover, take a look at your previous post, at the manner in which it is written. I wasn’t the one who used the word ‘fuck’, by the way. And irrelevant mention of sexy legs. That’s not insulting, huh?


A small fortune  is understood differently by everyone. And I already mentioned that I’m not asking but offering. Earning 22.5k in a year is not something everyone can do. Especially by doing little to nothing for it.

You can open 33 businesses if you want, but that doesn’t make you knowledgeable in the matter of a crypto farm. Just as I am a stranger to you, you are a stranger to me. So I draw conclusions only from your arguments, not from references to business experience, which I know nothing about.

Oh, so now you think you can get a loan by insulting me?  My competency isn't in question; I'm not the one requesting a small fortune from complete strangers.  As for your competency, it's rather clear to me (since I've started 3 businesses in my life) that you are guilty of that accusation yourself.

Your incompetence has been made even more obvious by snipping my comment in your response, rather than addressing the points I made.

You called me scammer several times having absolutely no justification. I don't treat others like that.

Of course, I quoted you. If you don't want to be responsible for your words, than what is the point of writing them in the first place?

I have already explained, how $15,000 and the rest $135,000 as well will be used. You can scroll up and read it once again. When you find out the way to cut those expenses for creating GmbH in Switzerland, let's continue this conversation.