The guy deserves 7.5 btc for the effort he is putting into this Con although I wouldn't hand him the NLG to distribute because you don't want him to have 1.5 million coins waiting to be dumped at some time in the future. It's one of those Cons you don't mind losing on because your getting guldencoin and reducing the premine at the same time.
Well... let's make him have 7.5BTC to set up this mining session.
The 1.5M Guldencoin will be distributed over the participants, so don't worry about those.
I think this opportunity deserves a change.
I have seen how George made his entry in the Guldencoin community and how things evolved from there.
There is trust and all the info we need about George for now...
Maybe I'm just to stupid to comprehend the plan, but is there any post I have overseen where there can be found an explanation how 100Mh can be guaranteed for a lifetime? I don't care what equipment is being bought for this (and how low the power and maintenance cost are), but it will cost at least 5BTC to get a good (used) 100 Mh rig. That will last no longer than 2 years (if lucky). Then a replacement needs to be bought. Let's say this will only cost 2.5 BTC then, again for 2 more years. After 4 years the initial well has dried up. Where is the (relatively high) interest coming from that takes care of 10 to 30 more purchases?
The only thing I can come up with is a ponzi scheme where new investors pay the tab. Once new hash rounds fail, so will the "lifetime" contract. Again, it's probably me being dumb here...
Can you please make an effort to educate me George? Again, I'm not accusing you of anything, I just want to be able to grasp the plan. Hell I'll pay the 7.5BTC myself if you can make me understand!
Sure.
I believe most people get stuck on the assumption that it is only about purchasing hardware. Which is not the sole case.
It's a mix of hardware and software, and connecting the dots between them.
Reason why I haven't disclosed the system in every single detail, is simply to prevent other coins from copying it. I stated that I would like this to be an "NLG exclusive" (https://bitcointalksearch.org/topic/m.12102686, bottom), which, I would like to uphold...
It's in my beliefs that individuals should take responsibility for their own hardware. It would be better for 10 people to have 1 10MH rig each all over the world then a 100 MH in one location.
What happens if there is a fire and the entire rig goes down in flames? Rather use the premine to buy rigs for people if they promise to keep them online for at least 2 years with their own electrical costs. This is way too risky and too centralized.
Say someone has a disagreement with George and he says fuck you and fuck guldencoin I am going to point these mining rigs somewhere else.
Buy your own fucking rigs people, don't give control to one person. Retards anonymous!
What do you think the price will be next year for a long term holder like myself?
