Now seeking investors for BitCorp Mining Company [Now pushing 40 GH/s!] - page 8.

Fjordbit

hero member

Activity: 588

Merit: 500

firstbits.com/1kznfw

Quote from: yochdog on September 24, 2011, 01:36:54 PM

furthermore, I really could not care less about what the BTC/USD conversion rate is, as we are in the business of mining Bitcoin, Paying dividends in Bitcoin, and taking investment in Bitcoin. We produce a very steady, very predictable stream of BTC per month, and tha has value to many people.

You are running a bitcoin business and you don't care about BTC/USD? I'm sorry but you are drinking the kool-aid too deeply. It's an important factor in mining because your electricity and rent costs are tied up in this. It's also a leading indicator on difficulty, so it's kind of like saying you don't care about difficulty.

What is your stance on FPGA versus video cards?

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: Brian DeLoach on September 25, 2011, 02:22:07 AM

You'll need to post substantial proof within 24 hours if you want to build some credibility. We've been through this game before, and it's infuriating. Photos and video will help a lot. No excuses, no explanations, no delaying or putting off. Just link photos from imgur and a video from youtube. If you don't, you will lose all credibility instantly and you'll have zero chance building it back up. You'll never meet a more cautious, picky, skeptical, paranoid, risk-adverse group of people in your life. You'll have to lay down every card you got or just go away.

Well that thread was interesting. Wow.

Alright, I suppose we were a bit presumptuous in our approach. We are going to take some time today and go around to our 3 locations and take some photos of the machines.

We will not be giving a video tour, of the place, but we will post some video of the miners hashing away.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: iamzill on September 25, 2011, 02:09:45 AM

Quote from: yochdog on September 25, 2011, 12:41:45 AM

Just out of curiosity, where would be the value in selling a contract to someone, then renting out the hash-rate from someone else? How could you make that work?

You claimed your credibility lies with your past history of offering mining contracts. I just pointed out that that "the ability of offer mining contracts" does not imply "owning mining equipment". If Alice wanted build credibility, she can just rent 9000 MH/s for 35BTC per week and then offer "mining contracts" for 32 BTC per week. It only costs Alice 3BTC per week to build credibility while appearing like she operates a huge mining farm. You have to understand that from my personal perspective there is 0 evidence to differentiate you from Alice so far. A simple set of pictures can change that.

Quote from: yochdog on September 25, 2011, 12:41:45 AM

My biggest problem is certain people on this forum will scream "scam" no matter what evidence is provided. If I post pictures, they will say the pics are photoshoped. If I post a read-out of our BTC prodution for the last 30 days, they will claim we made it in excel. If I post the names of people we have been a great business partner too, they will claim we have multiple accounts.

Maybe I was a little harsh in my first response, I let my frustration come through.

We are willing to provide evidence that we are legitimate, and would like your suggestions (we are re-considering posting pictures per you request). We genuinely want this to work, and are being completely straight-forward.

The whole chicken and egg thing is killer.

Yes, pictures can be photoshoped. But snapping pictures is cheap and easy, while photoshoping multiple megabyte sized photos are not. Yes, some people will scream "scam" no matter what. But if you post two dozen high resolution pictures of each of your locations, then anyone still screaming "scam" will just look like nut jobs.

Makes sense. I was only looking at it from the perspective of a business....not just trying to build credibility.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: payb.tc on September 25, 2011, 02:29:16 AM

hi yochdog, you say you can do 15GH/s... is this in addition to the 10GH/s I have already contracted for september 27th through to october 27th?

No, I believe we can only go to 15 GH/s total. Your contract is locked and ready. Part of our ongoing operations discussed in our business plan.

payb.tc

hero member

Activity: 812

Merit: 1000

hi yochdog, you say you can do 15GH/s... is this in addition to the 10GH/s I have already contracted for september 27th through to october 27th?

Brian DeLoach

vip

Activity: 166

Merit: 100

You'll need to post substantial proof within 24 hours if you want to build some credibility. We've been through this game before, and it's infuriating. Photos and video will help a lot. No excuses, no explanations, no delaying or putting off. Just link photos from imgur and a video from youtube. If you don't, you will lose all credibility instantly and you'll have zero chance building it back up. You'll never meet a more cautious, picky, skeptical, paranoid, risk-adverse group of people in your life. You'll have to lay down every card you got or just go away.

iamzill

sr. member

Activity: 677

Merit: 250

Quote from: yochdog on September 25, 2011, 12:41:45 AM

Just out of curiosity, where would be the value in selling a contract to someone, then renting out the hash-rate from someone else? How could you make that work?

You claimed your credibility lies with your past history of offering mining contracts. I just pointed out that that "the ability of offer mining contracts" does not imply "owning mining equipment". If Alice wanted build credibility, she can just rent 9000 MH/s for 35BTC per week and then offer "mining contracts" for 32 BTC per week. It only costs Alice 3BTC per week to build credibility while appearing like she operates a huge mining farm. You have to understand that from my personal perspective there is 0 evidence to differentiate you from Alice so far. A simple set of pictures can change that.

Quote from: yochdog on September 25, 2011, 12:41:45 AM

My biggest problem is certain people on this forum will scream "scam" no matter what evidence is provided. If I post pictures, they will say the pics are photoshoped. If I post a read-out of our BTC prodution for the last 30 days, they will claim we made it in excel. If I post the names of people we have been a great business partner too, they will claim we have multiple accounts.

Maybe I was a little harsh in my first response, I let my frustration come through.

We are willing to provide evidence that we are legitimate, and would like your suggestions (we are re-considering posting pictures per you request). We genuinely want this to work, and are being completely straight-forward.

The whole chicken and egg thing is killer.

Yes, pictures can be photoshoped. But snapping pictures is cheap and easy, while photoshoping multiple megabyte sized photos are not. Yes, some people will scream "scam" no matter what. But if you post two dozen high resolution pictures of each of your locations, then anyone still screaming "scam" will just look like nut jobs.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: iamzill on September 24, 2011, 03:20:05 PM

Quote from: yochdog on September 24, 2011, 01:36:54 PM

Quote from: iamzill on September 24, 2011, 01:21:32 PM

Please don't take this the wrong way, but someone can ask for 8 btc per share, convert that into USD, and put the USD into a bank account. At the current rate of bitcoin price drop he can afford to pay out 0.1 btc dividends indefinitely.

I'm not making accusations here. I'm saying that there's very little evidence to differentiate you from the above scheme. When you release your mining rig photos to potential investors they have no way to verify those photos except by posting them on this forum, so your photos will end going public regardless. So I would highly recommend that you post some photos of your mining rigs since it has the following benefits:
1. Everyone can verfiy that the photos are novel
2. Someone else can't claim the photos as their own
3. Build credibility

Please don't take this the wrong way, but That's great. A truly brilliant observation. You should probably be given a prize for your power of deductive reasoning.

All joking aside....assuming the price of BTC will always go down is stunningly assinine (have you even been paying attention for more than 5 weeks, or are you a newcomer who assumes they know all?). I would not base a business on that assumption, but if you want to, be my guest. furthermore, I really could not care less about what the BTC/USD conversion rate is, as we are in the business of mining Bitcoin, Paying dividends in Bitcoin, and taking investment in Bitcoin. We produce a very steady, very predictable stream of BTC per month, and tha has value to many people.

In regards to the photos, we don't feel the need to disclose them simply because you feel entitled to throw accusations around. We have a track record of being legitimate partners in mining contracts. This can be verified here: https://bitcointalksearch.org/topic/9000-mhs-rental-41888 and here: https://bitcointalksearch.org/topic/mining-contract-8000-mhs-38904 Our reputation can also be looked into by talking with "payb.tc", "jduck1987", and "BitSense Informatics"

I'm just trying to help, if you don't want it then that's fine.

The other threads have 0 evidence that you actually have the machines. You could have simply rented the hashes from someone else. I have no interest in bothering other forum members because you refuse to provide evidence yourself. Do you expect every investor to hold a PM chat with those three guys?

If you make no assumptions about the BTC/USD conversion ratio, the scam will still work. Just pay the dividends from the original 8 BTC. You can do this for 6 years and the scammer can still make a profit.

I bet typing that reply took much longer than posting a photo.

Just out of curiosity, where would be the value in selling a contract to someone, then renting out the hash-rate from someone else? How could you make that work?

My biggest problem is certain people on this forum will scream "scam" no matter what evidence is provided. If I post pictures, they will say the pics are photoshoped. If I post a read-out of our BTC prodution for the last 30 days, they will claim we made it in excel. If I post the names of people we have been a great business partner too, they will claim we have multiple accounts.

Maybe I was a little harsh in my first response, I let my frustration come through.

We are willing to provide evidence that we are legitimate, and would like your suggestions (we are re-considering posting pictures per you request). We genuinely want this to work, and are being completely straight-forward.

The whole chicken and egg thing is killer.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: Brian DeLoach on September 24, 2011, 04:35:25 PM

Ontop of your damning post history we also have these problems:

1) No photos at all
2) Your identity is anonymous
3) All we know of your location is Idaho.

Talk about a scam waiting to happen. I wouldn't go near this "company". I'd advise others not to do so as well. Don't bother attacking me, I already have you on ignore.

Alphy

I guess this is pointless since you ae ignoring me, but I will briefly respond. I apologize for the somewhat coarse and sarcastic responses, but I felt that I was responding in kind. Perhaps I was hasty. Mea Culpa.

You act as if a person cannot learn a great deal in a small amount of time. My first miner early this year ran at 15 MH/s. I know run a network of 26 machines hashing at over 10,000 MH/s. I learned from mistakes, picked up a lot of good advice, and now have one of the larger mining ops I have come across.

I am not sure how not knowing as much 2 months ago as I do today disqualifies one from offering a professional service. Seems somewhat arbitrary. This is Bitcoin, not open heart surgery. Let's face it, mining is fairly straightforward once you learn the ropes.

Again, I apologize for the sarcasm and abruptness.....I felt much the the legitimate advice I was given was not so kindly given.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: buttcoin1 on September 24, 2011, 02:34:32 PM

That's a bit much do ya think?

How about start slow and just ask for pics of his bedroom where the gigantic mining farm is located? And maybe his parents power bill for last month?

Got feisty up in here didn't it?

No parents house here, guys. I know you all like to project your own situation on everyone, but alas, tis not the case.

I am 30, married, own my own home, and pay my power bill like a big boy. Keep on trucking and you too may be able to have all this someday.

GimmeDemBitz

newbie

Activity: 14

Merit: 0

Quote from: Brian DeLoach on September 24, 2011, 04:35:25 PM

In this thread a senior member gave you very straightforward and honest advice. You then brutally attack him for it. Tasty Champa replies "dam man, I wasn't trying to be a dick. I was sincerely helping you." I actually felt sorry for the guy for the way you treated him.

So what you're saying is that it's a new FlipPro alt?

Brian DeLoach

vip

Activity: 166

Merit: 100

I'm sorry, but you have a stunning lack of maturity in your post history. I point out a few below. I'd ask everyone to look at these and ask whether they really want to do business with this type of person.

I understand we all have to start somewhere, but this thread was a mere six weeks ago. You didn't even know how to use guiminer. I seriously doubt people would want to do business with an inexperienced beginner.
This thread is hard to even look at. You completely fail to comprehend how someone can "possibly get 1500 MH/s for $1,000." You go on to attack anyone who shows you otherwise. You also fail to realize that you can mine off of 1x PCIe slots. Hey, I can build a 1600 Mh/s system for under $800, do you want to know my super secret newegg buying skillz?
You are a little more blunt in this thread. A very quick "You sir, are an idiot." The hero member, Phinnaeus Gage, continues being reasonable to you and offer you advise, but you just shoot him down and be sarcastic. He even offers you a free customized leather wallet, only to be ignored by you. Bitcoin Express said it best, "OP couldn't even figure GUIMiner 6 weeks ago now he is leasing out Data Centers LOL." However, he is wrong. It was only a week prior that you didn't even know how to use guiminer before you started offering mining contracts and rig hosting.
In this thread a senior member gave you very straightforward and honest advice. You then brutally attack him for it. Tasty Champa replies "dam man, I wasn't trying to be a dick. I was sincerely helping you." I actually felt sorry for the guy for the way you treated him.
You seem to take advice very poorly. Another member again is just trying to help you out, and you come back with this sarcastic and immature response. Unbelievable.
Even in this very thread, you show yourself acting like a child. iamzill posts legimate concerns, and you come back on the offensive, with personal insults and attacks. It is appalling behavior.

Ontop of your damning post history we also have these problems:

1) No photos at all
2) Your identity is anonymous
3) All we know of your location is Idaho.

Talk about a scam waiting to happen. I wouldn't go near this "company". I'd advise others not to do so as well. ~~Don't bother attacking me, I already have you on ignore.~~ Unblocked for now.

Alphy

iamzill

sr. member

Activity: 677

Merit: 250

Quote from: GimmeDemBitz on September 24, 2011, 04:26:11 PM

How to start a bitcoin business:

1. Put "CEO of XXXXX" in your sig. (replace XXXX with something important-sounding)
2. there is no 2.

1.5 When someone wants some evidence before investing, make personal attacks against them and then accuse them of being a newbie.

GimmeDemBitz

newbie

Activity: 14

Merit: 0

How to start a bitcoin business:

1. Put "CEO of XXXXX" in your sig. (replace XXXX with something important-sounding)
2. there is no 2.

iamzill

sr. member

Activity: 677

Merit: 250

Quote from: yochdog on September 24, 2011, 01:36:54 PM

Quote from: iamzill on September 24, 2011, 01:21:32 PM

Please don't take this the wrong way, but someone can ask for 8 btc per share, convert that into USD, and put the USD into a bank account. At the current rate of bitcoin price drop he can afford to pay out 0.1 btc dividends indefinitely.

I'm not making accusations here. I'm saying that there's very little evidence to differentiate you from the above scheme. When you release your mining rig photos to potential investors they have no way to verify those photos except by posting them on this forum, so your photos will end going public regardless. So I would highly recommend that you post some photos of your mining rigs since it has the following benefits:
1. Everyone can verfiy that the photos are novel
2. Someone else can't claim the photos as their own
3. Build credibility

Please don't take this the wrong way, but That's great. A truly brilliant observation. You should probably be given a prize for your power of deductive reasoning.

All joking aside....assuming the price of BTC will always go down is stunningly assinine (have you even been paying attention for more than 5 weeks, or are you a newcomer who assumes they know all?). I would not base a business on that assumption, but if you want to, be my guest. furthermore, I really could not care less about what the BTC/USD conversion rate is, as we are in the business of mining Bitcoin, Paying dividends in Bitcoin, and taking investment in Bitcoin. We produce a very steady, very predictable stream of BTC per month, and tha has value to many people.

In regards to the photos, we don't feel the need to disclose them simply because you feel entitled to throw accusations around. We have a track record of being legitimate partners in mining contracts. This can be verified here: https://bitcointalksearch.org/topic/9000-mhs-rental-41888 and here: https://bitcointalksearch.org/topic/mining-contract-8000-mhs-38904 Our reputation can also be looked into by talking with "payb.tc", "jduck1987", and "BitSense Informatics"

I'm just trying to help, if you don't want it then that's fine.

The other threads have 0 evidence that you actually have the machines. You could have simply rented the hashes from someone else. I have no interest in bothering other forum members because you refuse to provide evidence yourself. Do you expect every investor to hold a PM chat with those three guys?

If you make no assumptions about the BTC/USD conversion ratio, the scam will still work. Just pay the dividends from the original 8 BTC. You can do this for 6 years and the scammer can still make a profit.

I bet typing that reply took much longer than posting a photo.

buttcoin1

jr. member

Activity: 56

Merit: 1

That's a bit much do ya think?

How about start slow and just ask for pics of his bedroom where the gigantic mining farm is located? And maybe his parents power bill for last month?

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: iamzill on September 24, 2011, 01:21:32 PM

Please don't take this the wrong way, but someone can ask for 8 btc per share, convert that into USD, and put the USD into a bank account. At the current rate of bitcoin price drop he can afford to pay out 0.1 btc dividends indefinitely.

I'm not making accusations here. I'm saying that there's very little evidence to differentiate you from the above scheme. When you release your mining rig photos to potential investors they have no way to verify those photos except by posting them on this forum, so your photos will end going public regardless. So I would highly recommend that you post some photos of your mining rigs since it has the following benefits:
1. Everyone can verfiy that the photos are novel
2. Someone else can't claim the photos as their own
3. Build credibility

Please don't take this the wrong way, but That's great. A truly brilliant observation. You should probably be given a prize for your power of deductive reasoning.

All joking aside....assuming the price of BTC will always go down is stunningly assinine (have you even been paying attention for more than 5 weeks, or are you a newcomer who assumes they know all?). I would not base a business on that assumption, but if you want to, be my guest. furthermore, I really could not care less about what the BTC/USD conversion rate is, as we are in the business of mining Bitcoin, Paying dividends in Bitcoin, and taking investment in Bitcoin. We produce a very steady, very predictable stream of BTC per month, and tha has value to many people.

In regards to the photos, we don't feel the need to disclose them simply because you feel entitled to throw accusations around. We have a track record of being legitimate partners in mining contracts. This can be verified here: https://bitcointalksearch.org/topic/9000-mhs-rental-41888 and here: https://bitcointalksearch.org/topic/mining-contract-8000-mhs-38904 Our reputation can also be looked into by talking with "payb.tc", "jduck1987", and "BitSense Informatics"

iamzill

sr. member

Activity: 677

Merit: 250

Please don't take this the wrong way, but someone can ask for 8 btc per share, convert that into USD, and put the USD into a bank account. At the current rate of bitcoin price drop he can afford to pay out 0.1 btc dividends indefinitely.

I'm not making accusations here. I'm saying that there's very little evidence to differentiate you from the above scheme. When you release your mining rig photos to potential investors they have no way to verify those photos except by posting them on this forum, so your photos will end going public regardless. So I would highly recommend that you post some photos of your mining rigs since it has the following benefits:
1. Everyone can verfiy that the photos are novel
2. Someone else can't claim the photos as their own
3. Build credibility

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: sadpandatech on September 24, 2011, 12:23:00 PM

Quote from: yochdog on September 23, 2011, 02:33:11 PM

Company Locations and Facilities
We have three locations:
1) A residential office, with 3,000 MH/s of capacity. Upgradable and expandable.
2) 2,000 SF class A office space with 3,000 MH/s of capacity. Nearly maxed out on capacity.
3) 3.500 SF class A office space with 4,500 MH/s of capacity. Large additional capacity.

Sorry if this was answered and I assume its included in your 'expenses by BTC' but can we get a breakdown of your electricity cost per KWH at each of these locations and a total average of what that is and what it will be at the start of the next month for all facilities combined? Do you forsee this cost going up or down with any change of contract for the electricty at any or all of the facilities?

Cheers

Hi there,

This is the CTO of BitCO....I wanted to expand on this topic a little more. Our only direct cost of electricity comes from the residential location. The two office locations have pooled elecricity cost, so it is hard to break out exactly what our network uses. BitCO pays a small fee to the business' occupying the office space, and that fee is indeed included in Operating Costs on the financials.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: iamzill on September 24, 2011, 12:57:00 PM

Quote from: yochdog on September 24, 2011, 11:49:14 AM

Quote from: iamzill on September 24, 2011, 11:36:58 AM

Are you sure your production numbers are correct? I'm producing half of what you are producing and I only invested $2000 in hardware. I thought the point of a corporation is to take advantage of the economies of scale.

Great observation. We did not hit our current 10,000 MH/s until early this month. I expect that our September production will be close to 175 BTC.

That's more like it. Do you plan to expand further or just keep the current rate?

We believe we have suficient infrastructure to reach 15,000 MH/s. Our plan is to strategically expand when financially advantageous (read: good deals on additional hardware). If we feel the cost benefit of further expansion is not in our favor, we are happy to continue at 10 GH/s and pay out generous dividends.

Topic: Now seeking investors for BitCorp Mining Company [Now pushing 40 GH/s!] - page 8. (Read 17205 times)