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Topic: [Official Thread] - The SolarWind Mining Company - page 4. (Read 54700 times)

hero member
Activity: 966
Merit: 502
Check it out, coolist thing in quite awhile!!

Check it out!! This is similar to an Idea I was working on, but they got there first!!

Youtube

Indiegogo Page: Solar Roadways

Collecting donations for the Solar Roadways Project

Donation Address: BTC1KUHaFVg7mBLaSeL6NN9FwA77nEydkSZ3K

legendary
Activity: 1988
Merit: 1007
That sounds good! I look forward to hearing more as the time comes, Smiley.

Also, just as a heads-up, I am up for more work with SWMC as things come up (hopefully you still remember who I am, :p).

No worries ranlo, I haven't forgotten you, I never forget my friends!  Smiley

Thanks!
hero member
Activity: 966
Merit: 502
That sounds good! I look forward to hearing more as the time comes, Smiley.

Also, just as a heads-up, I am up for more work with SWMC as things come up (hopefully you still remember who I am, :p).

No worries ranlo, I haven't forgotten you, I never forget my friends!  Smiley
legendary
Activity: 1988
Merit: 1007
Have you considered just consolidating the entire business in to Havelock? In that method, you can give those of us shares equal to what we "own" right now, and then raise additional capital and only have to worry about the payment sending through one medium. It would also go to help provide a more transparent listing as to what we own. In my case, for example, I know what you've said I own but there's no public documentation of that.

I have considered something like what you suggest, the problem is the IRS's recent rules make the former business structure difficult and costly to manage. I will be shifting to a managed hosting format to avoid the immense amount of paperwork and personal information those rules will require, this will require a change in share terms. Fortunately (sort of), the current number of investors is small so fulfilling the promise to them will not cost SWMC a huge fortune. I am waiting on $13,000+ which will be more than enough to double ALL current investments, but the company that owes SWMC the money is has not made a payment in months. Even though they are having some trouble of their own, I still believe they will pay up. I am likely to offer some nice incentives using this money for a buyout or conversion of current shares.

I will let you know more when the account is finally settled.

Regards,
James


That sounds good! I look forward to hearing more as the time comes, Smiley.

Also, just as a heads-up, I am up for more work with SWMC as things come up (hopefully you still remember who I am, :p).
hero member
Activity: 966
Merit: 502
Have you considered just consolidating the entire business in to Havelock? In that method, you can give those of us shares equal to what we "own" right now, and then raise additional capital and only have to worry about the payment sending through one medium. It would also go to help provide a more transparent listing as to what we own. In my case, for example, I know what you've said I own but there's no public documentation of that.

I have considered something like what you suggest, the problem is the IRS's recent rules make the former business structure difficult and costly to manage. I will be shifting to a managed hosting format to avoid the immense amount of paperwork and personal information those rules will require, this will require a change in share terms. Fortunately (sort of), the current number of investors is small so fulfilling the promise to them will not cost SWMC a huge fortune. I am waiting on $13,000+ which will be more than enough to double ALL current investments, but the company that owes SWMC the money is has not made a payment in months. Even though they are having some trouble of their own, I still believe they will pay up. I am likely to offer some nice incentives using this money for a buyout or conversion of current shares.

I will let you know more when the account is finally settled.

Regards,
James
legendary
Activity: 1988
Merit: 1007
Just a heads up, I am working on submitting an application to Havelock Investments to raise capital for the SWMC Hashing Exchange. This will be a ground floor opportunity to earn a BTC income on the other side of the industry, rather than buying miningware to mine with, owners of shares in the SWMC Hashing Exchange will be earning BTC as a profit share in the Hashing Exchange's miningware and hash sales as well as on the hosting fees. The capital to be raised will be used to finance the physical infrastructure (miningware fabrication and supporting systems.) I have tried to raise the funds directly so as to save on some of the fees involved in an IPO, but there is little interest. So I will try the Havelock route to see if this improves the situation.

Thanks!
James

Have you considered just consolidating the entire business in to Havelock? In that method, you can give those of us shares equal to what we "own" right now, and then raise additional capital and only have to worry about the payment sending through one medium. It would also go to help provide a more transparent listing as to what we own. In my case, for example, I know what you've said I own but there's no public documentation of that.
hero member
Activity: 966
Merit: 502
Thanks for the updates. You can show my username too.
All done.


Just a heads up, I am working on submitting an application to Havelock Investments to raise capital for the SWMC Hashing Exchange. This will be a ground floor opportunity to earn a BTC income on the other side of the industry, rather than buying miningware to mine with, owners of shares in the SWMC Hashing Exchange will be earning BTC as a profit share in the Hashing Exchange's miningware and hash sales as well as on the hosting fees. The capital to be raised will be used to finance the physical infrastructure (miningware fabrication and supporting systems.) I have tried to raise the funds directly so as to save on some of the fees involved in an IPO, but there is little interest. So I will try the Havelock route to see if this improves the situation.

Thanks!
James
hero member
Activity: 966
Merit: 502
hero member
Activity: 966
Merit: 502
Just dropping in to let everyone that we are still working hard at getting the new website and Hashing Exchange up and running. Nothing of note to mention as we are currently working on the framework which isn't all that exciting.

Regards,
James
hero member
Activity: 966
Merit: 502
James,

I sent you an e-mail just now regarding my shares of the Neptune.  Can you reply and validate the information?  I am using the [email protected] e-mail.  This is the e-mail I received when I purchased my shares.  Is this the correct e-mail or should we be contacting you using another e-mail address.

Thanks
Pete
You bet, that email address is now working and your information is confirmed.
newbie
Activity: 1
Merit: 0
James,

I sent you an e-mail just now regarding my shares of the Neptune.  Can you reply and validate the information?  I am using the [email protected] e-mail.  This is the e-mail I received when I purchased my shares.  Is this the correct e-mail or should we be contacting you using another e-mail address.

Thanks
Pete
hero member
Activity: 966
Merit: 502
Very few things are more rewarding than blinking LEDs.  I don't know why.

I see the website is back up.  What's been happening?  How's the mining going and what bitcoin hardware have you got mining?
Hello Cyberius, nice to hear from you!

ATM, SWMC hasn't any hardware hashing because we are waiting for the KnC Neptune to arrive. Current investors will start earning with 300-450 GH/s once the miner arrives and is hashing away. Investors will also receive, in addition to the Neptune hashing share, bonus hashes from SWMC's Hashing Exchange once it is up and running. The hashing power will be figured to provide each investor an amount that will double their investment amount within 2-4 months (adjusted as needed.) Considering that the total BTC invested into SWMC from shareholders is less than 7 BTC, this won't take a great deal of the hasing power and will be a very small precent of the hashing power provided by SWMC's Hashing Exchange.

The best way to get all of the updates for whats happening now with The SWMC, is to review prior posts that I have made starting with post #212
newbie
Activity: 9
Merit: 0
Very few things are more rewarding than blinking LEDs.  I don't know why.

I see the website is back up.  What's been happening?  How's the mining going and what bitcoin hardware have you got mining?
hero member
Activity: 966
Merit: 502
Further progress has been made by The WPC on the A1 Wasp test board...

It's ALIVE!

A note from the WPC EE:

Quote
I am blinking the lights!

So:

1. 3.3V regulator working
2. JTAG interface to UC3C working
3. Processor is initializing
4. ASF now working (took moving to Studio 6.2, since all UC3C was broken in 6.1)
5. 12MHz oscillator is working
6. Can do one LED - all 3 colors are working

Yay! (Finally!)



Download the Wasp P0rn movie here:

https://drive.google.com/file/d/0B3u-c97pGdlfdlI4Mk1SdE5NVFE/edit?usp=sharing

hero member
Activity: 966
Merit: 502
Will you please clarify some things:

Shares:
Are we buying shares of SWMC the company, or shares of this one SWMC website's profits? If it is for all of SWMC, can shares be resold? Any plans to use something like Havelock investments or Cryptostocks? And how are shareholders represented within the organization (for example do we get to elect a board member or get a vote on decisions such as fee price)?

It depends on what precisely you are referring to. If you are referring to the post immediately preceding your own (which is my assumption), then as a financial contributor to SWMC's Hashing Exchange development, you receive a portion of 25% of the total trading fees as outlined above. All costs are paid out of the remanding 75% of trading fees. This is true only for the SWMC Hashing Exchange as that is the offer specified. That's pure profit on the contributors side of this offer, so the ROI estimation is accurate if you assume the values given in the example as being accurate. To be clear, those figures are indeed accurate, but only if the full trading volume as represented is achieved. As with any investment, there are risks involved, so whether or not those numbers are achieved or not can't be known. If you're wondering where the company will make its profits with the Hashing Exchange, it will be in the sale of Hosted Wasp miningware, Bitcoin mining and hashes from SWMC's own miningware sold on the exchange. But this is just one facet of SWMC's business model, there are lots of opportunities to be explored in the future of Bitcoin's economic expansion. Most of these opportunities haven't even been invented yet!

As far as shares in the company itself are concerned, you would be talking about a Founders Contract which does offer 25% (this would be after cost) of company profits as a perk. The back end process of the Hashing Exchange will also handle the sale of company shares and contracts, which will also be tradable, but this function will be a different part of the main website. I plan to expand the trading choices in the future to take advantage of the various decentralized exchanges like counterpartyd or Bitshares PTS (I will never use Havelock!) Investments are made and have rights to profits based on the type of investment made. There will not be board members because that would require a different business model than that which I wish to use. (I just simply wouldn't function well in that type of political environment.) Even so, I would never ignore those who are supporting SWMC and will always seek to make them happy and be worthy of their trust. Voting on specific actions will be offered based on need and customer opinions and if it seems the best way to resolve a serious issue.

Competition:
What is the timeline for the completion of the website? Who is developing and maintaining the website? CEX has HUGE volume, in order to earn 4000 BTC in revenue a day, they trade ~310,000 in gh/s per day (4000 BTC volume/ 0.01290146 current price per gh/s). This doesn't even include gh/s that wasn't traded and just kept mining. How do you plan to get even a fraction of that kind of volume when CEX has a huge lead and millions in the bank? With its bigger bank can't CEX buy gh/s in greater bulk, thus paying less per gh/s and beating your prices? How do you plan to combat this especially since CEX can just buy WASPs too if they are cheaper per gh/s?

If you look around at other industries, you'll notice that, for the most part, there are at least three companies at the top of the industry, these are often referred to as "The Big Three." So far, there is only one company of note that trades mining hashes like a commodity and that is CEX. One issue with CEX is that you have to use your mining hashes on their mining pool. Not so long ago, CEX's network hashing share was threatening to surpass more than 50% of the entire Bitcoin Hashing Network, this resulted in fears of the dreaded 51% attack becoming possible and a loss of a significant of support for CEX.

One of the ways that SWMC would use to avoid such concerns is to allow those who exchange hashing power on SWMC's Hasing Exchange to choose their own mining pool or even mine solo if they wish. Combine that with hosted mining that offers the same benefit, then I believe that The SWMC Hashing Exchange's model will have a great deal of support within the Bitcoin community and that will lead to a successful business model.

Additionally, as time marches on, the costs of Bitcoin mining will rise beyond the ability of most individuals to afford (to keep up with) on their own. Just as mining pools helped solve this issue before, collective participation in mining farms will be a similar solution moving forward. Hashing exchange platforms and similar solutions will become the norm, so the market will only increase as things progress in this direction. It's advantageous for SWMC to establish itself while this trend is still in its early stages. It is also advantageous for investors to take advantage of any offer that gives them a significant portion of the income generated by trading fees. It may not be so much now, but the potential is significant as time and the associated market share progresses. In the future, a volume of 4000 BTCs worth of trading in a day will seem rather small for a single exchange.

The concern of the Bitcoin community over keeping the Decentralized Nature of Bitcoins Decentralized Network sanctimonious will limit CEX's ability to grow, but does allow other organizations to flourish if they offer a way to profit/participate in Bitcoin mining and help preserve Bitcoins Decentralized Network at the same time. CEX's enormous coffers do not compare to the total funds available amongst the Bitcoin community as a whole. So if SWMC gains significant support in the community funding shouldn't (won't) be an issue. Besides this fact, it isn't SWMC goal to surpass CEX or beat them in any race for hashing power. As a faithful believer in what Bitcoin can provide to the world, my goal is to support the Bitcoin community and the Bitcoin Network as best as I can.

I believe CEX already uses their own hardware design using bitfury chips. So if they switch to Wasps, I don't see that changing much at all. On top of this, CEX doesn't market their hardware and all of the hashing power that they sell is on their exchange. Again, I don't see that changing much even if they adopt the Wasp designs. Add to this what I just mentioned above and I have even less concern about this issue.

Costs:
Finally what about costs? Running a website at the scale of CEX costs thousands of dollars per month in server costs alone. On top of that it requires not just a developer but also things like a support team and a ton of add on services like Mandrill/Mailchimp, Cloudflare and Zendesk (these alone are like $500 per month for a high traffic site). And that is just the website, it doesn't include maintaining thousands of Asics and paying for electricity for them.

Well, CEX didn't just materialize into existence one evening all ready to go, they had to grow over time. As SWMC needs to expand its capabilities, it will do so. The rest of what you mention is just the costs of doing business and when the time comes for those things to be added, well, I need not repeat my statment.

Quote from: LDR link=topic=297334. msg5719514#msg5719514 date=1394925259
In your post you have taken the revenue earned and divided it between shares without subtracting any costs whatsoever. This does not calculate ROI per share it calculates net revenue per share. Costs take up the vast majority of a business' revenue thus your ROI calculations are completely wrong.
I believe I already addressed this point.
LDR
member
Activity: 119
Merit: 10
Will you please clarify some things:

Shares:
Are we buying shares of SWMC the company, or shares of this one SWMC website's profits? If it is for all of SWMC, can shares be resold? Any plans to use something like Havelock investments or Cryptostocks? And how are shareholders represented within the organization (for example do we get to elect a board member or get a vote on decisions such as fee price)?

Competition:
What is the timeline for the completion of the website? Who is developing and maintaining the website? CEX has HUGE volume, in order to earn 4000 BTC in revenue a day, they trade ~310,000 in gh/s per day (4000 BTC volume/ 0.01290146 current price per gh/s). This doesn't even include gh/s that wasn't traded and just kept mining. How do you plan to get even a fraction of that kind of volume when CEX has a huge lead and millions in the bank? With its bigger bank can't CEX buy gh/s in greater bulk, thus paying less per gh/s and beating your prices? How do you plan to combat this especially since CEX can just buy WASPs too if they are cheaper per gh/s?


Costs:
Finally what about costs? Running a website at the scale of CEX costs thousands of dollars per month in server costs alone. On top of that it requires not just a developer but also things like a support team and a ton of add on services like Mandrill/Mailchimp, Cloudflare and Zendesk (these alone are like $500 per month for a high traffic site). And that is just the website, it doesn't include maintaining thousands of Asics and paying for electricity for them.

In your post you have taken the revenue earned and divided it between shares without subtracting any costs whatsoever. This does not calculate ROI per share it calculates net revenue per share. Costs take up the vast majority of a business' revenue thus your ROI calculations are completely wrong.
hero member
Activity: 966
Merit: 502
Since this thread hasn't been very active I thought that I would add this as an easier way to contribute and earn a portion of the trading fees from the new SWMC Hashing Exchange.

_______________________________________________________________________________

SWMC Hashing Exchange Development Shares - 25% of the total of all future trading fees has been designated as compensation for those who contribute towards the development of SWMC's Hashing Exchange and website. This will offer a nice passive income source for SWMC Hashing Exchange contributors.
_______________________________________________________________________________

Out of the 25% of trading fees, 15% of the trading fees are being sold as SWMC Hashing Exchange Dev Shares for financial contributions with the remaining 10% being available for sweat-equity opportunities. Although there are no set numbers of shares to be sold, the total funding needed is approximately $7500. The sale of shares will be ended once this goal is reached.

Click Here To Purchase Full Share: $150

Click Here To Purchase Patial Share: $75

All share values are in BTC. All shares sold will receive an equally divided portion of the total percentage of contributions based on the amount paid in USD for each share at the time of purchase.

Share value will be $150 with partial shares priced at $75 and will be credited based on the USD/BTC exchange value at the time of purchase. You will not be penalized for any fluctuation in the USD/BTC exchange value at the time of exchange. Share value portions will be based on the total USD value of all share purchases. (e.g. $7500/$150 = 50 Shares | (15% of trading fees = 0.15) 0.15 / 50 = 0.3% of trading fees per full share.)

Example of share earnings based on a total of 1000 BTC in trades:

Trading Fee: 0.2% (not necessarily the final trading fee)
Total Trading Fees Collected for 1000 BTC in Transactions: 2 BTC
Full Share Portion of Collected Fees: 0.006 BTC
USD Comparison at Current Exchange Value of BTC = $677 | 0.006 x $677 = $4.062
Daily Exchange Value of CEX.io: ~4000 BTC (4 x 1000 BTC in example)
Equal Comparison in BTC of Share Value at CEX.io Daily Volume: 4 x $4.062 = $16.248
Full Share ROI at CEX.io Daily Volume: $150 / $16.248 = ~9.23 Days
Total Value for 15% of Trading Fees at USD/BTC = $677: 50 x $16.248 = $812.40 Daily
Total Value for 25% of Trading Fees at USD/BTC = $677: $1354 Daily

Full Share ROI at CEX.io Daily Volume at USD/BTC at $1000:
0.006 x $1000 = $6 | 4 x $6 = $24 | $150 / $24 = 6.25 Days

Total Value for 15% of Trading Fees at USD/BTC = $1000: 50 x $24 = $1200 Daily

Total Value for 25% of Trading Fees at USD/BTC = $1000: x $24 = $2000 Daily

_______________________________________________________________________________

There are No Limits on Shares per individual

Click Here To Purchase Full Share: $150

Click Here To Purchase Patial Share: $75

[EDIT: Link to spreadsheet to track share information.]
hero member
Activity: 966
Merit: 502
We're getting closer to the Wasp A1 rollout!

The initial bring up 2 Chip Wasp A1 in hand... pick and place and re-flow ongoing.



hero member
Activity: 966
Merit: 502
Just a quick update. Made significant progress today on the New Website layout. Further work has been done towards the Hashing Exchange and some of the other features as well.

Will continue to update as things move along.

~James
hero member
Activity: 966
Merit: 502
Hi James,

You've been talking about a Hashing Exchange similar to CEX.IO,
will you be implementing a referral program too?

Of course!  Smiley
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