Topic: Initial Financing for Mining Farm Project - page 4. (Read 1642 times)

That's not my intention - I have treated you the same way you treat others.   I deleted my previous message to post something different, but you snuck in a quote lol,


OK, so make a new line, call it "Initial funding".     This is not a waste of time - you'll need to do this all anyway for each investor.
What will the $15,000 be used for?

Opening a company is not just a piece of paper confirming its creation, but also the need to have funds in the company's account. Take some time to read about how GmbH works in Switzerland.

What is the purpose of your question? Are you a potential investor? If not, I will not provide any further information. You're not asking to engage in a constructive conversation or contribute to the implementation of this project; you're just trying to dig into personal matters. I've already shared a lot of information, even though it became clear to me right away that you have no intention of even exploring my proposal. I understand that you don't like it. Why should I go line by line with you if it won't lead to my desired result? Just so you have more reasons to mock me and show your superiority?

P.S. There is no such thing as Pierogi in Ukrainian cuisine. Check you roots, "Ukrainian fellow friend", it seems to me, that Polish and Ukrainian are the same thing to you. Not so distant indeed.

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Initial funding is the key matter of this topic. You can check the name of the thread, by the way. All we have been discussing is initial funding. I made a mistake to think that this was already clear after 3 pages of posts. But now I see it wasn't. I clarified all the expense items in the initial investment. I have written where, when, and how much money is allocated. This all concerns the initial investment. Since the main investment is significantly larger, it is also detailed in the screenshot I have already published, and its discussion has already taken place.

What does having Ukrainian roots (which are quite distant) have to do with the realities that people here are currently facing?

You live under different conditions, with different values and rules. And I think you have little understanding of how things work in Ukraine now and how they worked before the war.

For us, Ukrainian citizenship is a reality, not a call from our ancestors. And judging by your words, you're not familiar with this reality.

Moreover, belonging to Ukrainians is not related to the subject of the discussion. But the realities in Ukraine are.

1.  I used to run a mining guild.   Mined three blocks in a week.

2.  I am truly a Ukrainian - my grand parents emigrated to Canada and I have mentioned my heritage on the forum before.

3.  Paperwork is a term used in Canada to mean something trackable, versus just your words.  

1. It's shocking how incompetent a person can be in mining and yet still feel confident enough to express their opinions on the matter.

2. You think you saved us $63,000, but that only confirms how little experience you have in the legal sector and how little you know about the legal and technical development of a mining farm project.

3. We are not planning to establish a company in the U.S. and pay taxes there.

4. Most of the land sold in the U.S. exceeds $1,500,000 in price (we have evidence that we will present to those knowledgeable on the matter in a private conversation).

5. Developing infrastructure on bare land will cost even more than $1,000,000. I have this data, and I will present it to an interested party. Meanwhile, you can go and research the issue.

6. Your comments regarding due diligence further confirm that you’ve never dealt with a mining farm. When you want to purchase land anywhere, you need to check the legal status not only of the land but also of the legal structure that owns it. The connection between due diligence and electricity is a mystery. Paying electricity bills is a separate legal procedure related to the electricity provider.

7. I owe you absolutely nothing. Clearly, you've never had any real dealings with a crypto farm. We've seen experts like you before, whose activity is limited to this forum.

8. It is delusional to think that air conditioning is compatible with a machine that operates on hydro cooling (can you read?). You didn't even bother to look up what a heat recapture system is and why it is crucial for a mining farm.

9. If you want to build a crypto farm for $150,000, good luck, and keep me informed on your progress.

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Vod, if you are truly a Ukrainian, lets meet in person and discuss the matter privately

But I have lots of doubts of you being a Ukrainian, since you make reference to paperwork.

I'm not talking collateral.  You said you have the funds to pay the full amount you are asking plus interest.   I'm asking how you can prove you have that money, not asking you to provide it.  You said it's coming in July, so you must have paperwork.

Are you ready to withdraw this BS scam and save your reputation?  As a Ukrainian myself, don't be using your status to pity scam.   

What the letteral fuck?

That's $63k for the same thing just worded differently.  North Dakota is among the states with the cheapest electricity in US, it costs $135 to register an LLC in North Dakota.  The forms are so simple, even I could do it without legal help.  There, I just saved you $62,865.


$20k for boondoggles, got it.  Ever heard of Zoom?  And what exactly is attending "leading crypto conferences" going to do for you?  You already know you want to mine bitcoin.  Do you think you'll be the only one at these conferences looking to lure investors?  Or maybe you think your winning personality and sexy legs will cause you to stand out from the other winning personalities and sexy legs?


What due diligence?  Mining bitcoin isn't illegal.  As long as you pay for the electricity you consume, you'll stay out of legal trouble.


1. Free
2. Shelving from Home Depot
3. I already told you; North Dakota (that'll be $10k, please)
4. I won't repeat myself (but that's another $4k, please)
5. Install an air conditioner (that's another $5k you owe me)
6. Local business licenses cost less than $20.


No need for a private conversation, I just buggered your entire proposal.  If this isn't a scam, it's the stupidest attempt at creating a startup that I've ever heard of.  $150k wasted on useless bullshit.  It was one thing when I thought you were going spend the $150k on miners and infrastructure, but this is completely bat-shit crazy.  You haven't even reaserched the costs of these things you're talking about, and that's plain to see now.  You're literally just making shit up and plugging a number next to it.


Oh, you need funds NOW!  Like bitcoin is going away in 9 months time?  Believe me, if you're grandiose plans can't handle an unexpected delay of 9 months, you've got bigger problems than not getting the $150k loan (which you're not.)  So, if I were you, start planning on spending your own money.  Please keep me informed on your progress.  

•      Creation of a company whose purpose is managing the crypto farm and investment activities – $15,000
•      Creation of company's identity – $20,000 (part of presentation of a company)
•   Hiring a specialist or company as a legal advisor – $18,000 ($1,500 per month)
•   Legal support for the creation and operation of the company – $10,000 (payment which is required for legal actions on the company`s creation stage)
•   Business trips for that members of our team who are currently not in Ukraine to countries where the crypto farm locations are situated – $8,000 (2 members, $4,000 for each. Countries: Switzerland, Norway and Finland)
•   Business meetings with investment funds and private investors - $6,000 (2 members, $3,000 for each. This category includes tickets, accomodation and local transportation, not cavier in reastaurants. Note that there are 4 trips planning)
•   Attending leading crypto conferences - $4,000
•   Legal and technical inspections of the locations (also due dilligence included) – $35,000-40,000
•   Payment for services provided by contractors:
        1.   Consultations with electricity suppliers - $2,500
        2.   Consultations and development of the technical specifications for the crypto farm location - $3,500
        3.   Brokerage services for location search (engagement fee) - $10,000 (to the particular broker,  location presented by whom will be chosen)
        4.   Consultations on spot electricity trading and the FRR market  - $4,000
        5.   Development of a Heat Recapture Technology plan (possibility of selling the heat) - $5,000 (individual plan)
        6.   Consultations and work with government representatives regarding permits for the crypto farm's operations - $4,000

The clarification of these numbers are available for those who will engage in a private conversation with us, as long as it is NDA information.


The issue of collateral, as well as our ability to return the investment along with the total interest, is also discussed personally. PS. I have never said that there is no collateral. I only stated that it is not for a public declaration.

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Because we need the funds now. Our personal funds will be available only in mid-July. By that time, it can be late to build a farm, because we will lose a lot of time, moreover, bull oriented time. Even if we build it as fast as it could be, the farm will start operating no early than October of the next year. We are aiming to launch it in February 2025, therefore we will have 9 month more for generating bitcoin.

If you are able to come up with $150k to pay back the initial loan irrespective of future funding, why bother with the loan in the first place?  If your proposal fails to obtain the $40 million you need, you will be out $150k, not $172,500.  Why risk putting yourself in the hole for another $22,500?

I guess you need to ask the right question.  

OP - how much money is needed for each task?


OK, that will help with the investors!   How can you prove you have the funds to do so?

I can, and as a matter of a fact, I already did.


For example, now members of our team who do not currently live in Ukraine are skipping the conference in Amsterdam, where our counterparties from USA will be present and with whom we were supposed to meet in person for establishing further collaboration.

 

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The whole crypto farm project requires $40,000,000. However, these funds are not directly connected to the first-stage investment. Even if we won't succeed in securing money for the main investment, we will pay $150,000 + 15% back from our own pocket. I mean, that paying back the initial investment of $150,000 + 15% doesn't depend on the next investment stage.

Let's go back to the project we are talking about here.
As far as I understand, the initial figure you are asking from investors is $150k. What exactly is that money for?
After that, and how much money is needed later until the business is set up to be functional?
I guess it's not all secret and you can share some of the details.

Once again, I am open to questions and continuing the discussion. I started this topic to answer the questions that are not confidential openly and publicly; and for those that are private, I am ready to discuss them through personal communication. I understand that to spark enough interest for personal communication, it is necessary to first provide some information, which is why I have written all my posts in a very detailed manner. Thank you to those who have joined the discussion constructively and shown respect and interest.

My goal in this topic is not only to attract funds for the project but also to discuss the details of my proposal in order to make it more advantageous and stronger. I hope that more people will join us and share constructive thoughts.

You are right - it's not like he is trying to scam $20.   He is certainly not CEO material, and no one looking to increase their wealth would support this scam. 

One can make a new account, spend an hour making a budget and post here as many times as they need - having an instant advantage over this guy.   This is why I call it a scam - it took no time or talent; it's just words.  I do not want Project Development to turn into a spam board like this and I have spent years sending reports to the old moderator.

I'll remove that negative trust as I feel it dilutes the rest.   The next guy might come on here asking fir $450,000!   I have to concentrate on the scams that have a possibility of succeeding.

Who others do you want to warn in this case? A person who is ready to invest 150 thousand in some project, but does not use the support of his lawyer and does not study all the circumstances of the business plan to a sufficient extent, is unlikely to have such capital for investment. And the rest, in principle, do not face any risk due to such an offer. The negative tag in this case seems excessive and something personal. What specific risk and for whom do you see from this offer? Are there any inexperienced investors on the forum ready to send 150 thousand to a stranger on their word of honor?

I will not encourage anyone to participate in this project, I myself do not find it interesting enough, but at the same time I believe that a potential investor should certainly take care of the issue of protecting his investments on his own and study all issues seriously enough, including issues of legal protection of his investments. Your warnings in words can have some sense and your tag has nothing correlating with that.

Let's go the other way, which will be more productive - provide data, what are the requirements of credit agencies, as well as what conditions they offer for similar projects, in YOUR COUNTRY. For what? We will just all evaluate how much the topic of attracting loans from banks and credit agencies is acceptable in this case ?
The problem is that credit conditions are very different from country to country. In this case, as practice shows - the search and attraction of investors for all sorts of projects, is not any “illegal” or “suspicious” method.
For example, I am a citizen of Ukraine, I live in Ukraine, and I am an investor in some projects, including cryptocurrency. And I know that the peculiarities of the situation in the country, as well as the conditions of the banking/credit sector, are not very acceptable for many projects. That's why private investors are often attracted in this way.

PS And yes, it is good manners - if you accuse in something - give arguments. No arguments - then write “it seems to me, although I can't prove or give any meaningful arguments, that this could be a dishonest project”

I would hope so!  I'm trying to help with great advice, as my reputation proves, even if you so quickly forgot my written warning about asking for large non-collateral loans.

I may want to start up a mining farm too.   My budget will be 20% less than yours (just numbers based on nothing) and I'll offer a better return.  Why would anyone be stupid enough to invest in yours?

Don't try and talk me out of it - I'll ignore you and insult you but I won't take any of your valuable advice.

My first step should be any lending agency, to see what proof they require.  You should work on proving you know how to run a business.  :0

DrBeer, you are definitely the first one who really has shown the true interest in this project, and not only the desire to criticise without even diving into the details. I am open to share our calculations with you and like I mentioned several times already in this thread, I will do this in private, because it is not such kind of information you disclose for everyone, especially for those who do all they can to demonstrate they don’t need it to draw their conclusions.

When you get acquainted with project presentation, our forecast and numbers, I will kindly ask you to confirm here in the thread that you have really seen all of this documents, just to eliminate the attempts for someone’s unfounded assumptions in the scam.

It's a pleasure to deal with you. You seem like the type of person who first understands the issue, rather than thinking that he already has ready-made answers and judgments for everything.

I am a third party in this situation. I do not live in Ukraine and I can not say anything about the project presented by Etranger (and I will not judge how attractive this project is for investment - I do not know).

However, I do not think that Etranger is a scammer (perhaps she is just a naive girl who tries to participate in various offline and online activities). As far as I know, she is a young Ukrainian, an active member of the Bitcointalk forum. She posts a lot on the Bitcointalk and Altcoinstalks forums, participates in subscription campaigns, is actively engaged in trading. I can not say anything bad about her (only good). In my opinion, she does not deserve a negative (red) tag in the trust.

If the respected user of the Vod forum listens to my request (we are not personally acquainted, but I read that you are a very authoritative user of the forum), then maybe he is ready to change his decision (for example, change the tag to neutral or remove it altogether)? Thanks in advance.

It would be interesting, however, to hear your arguments, logical, about why you think the project is dishonest? Constant repetition of words unsupported by anything, does not give you weight and importance

And again, for an educated person, there should be an understanding between fraud and risks. About risks - yes you can talk and you should, it is a subtle topic of any investment. Since all investment projects have risks. Talking about fraud - makes sense if only you have arguments and not empty shaking of the air, regular repetition of the same phrases. “Fraud” could be attributed to the project if they were collecting money anonymously, in crypto, without any plans for an official relationship.  But here people have a project, there is a calculation, there are open plans .... So once again I repeat - give your logical arguments, or don't make posts
And try to prove that you are not a government official who is trying to hinder the development of the crypto market and technology in general, very much like that.... Or at least - you are not a very successful competitor who is not doing very well and the next competitor will simply destroy your business, so you are trying to vilify him


To the author of the topic - personally, I am interested in the calculation of the company's profit, taking into account the complexity of the network and the real income at the declared capacity of mining equipment,