Topic: [PHM] - Power Hash Mining Announcement - page 3. (Read 5695 times)
So how do I know this is not a scam? Why should I trust you guys?
*grumbles in an old man voice* Back in my day, Havelock actually did a thorough check on users, their business model, and finances before hosting them on the Exchange...oh the times, they are a changin' ...
Anyway, I have no problem with establishing a mining fund for alt-coins. The concept is solid, but the execution..well..could be better. I'll dissect this one and rain down questions in a bit, same as what I did for the "Sandstorm" asset. Twice in one day..phew, this is rough
Anyway, I have no problem with establishing a mining fund for alt-coins. The concept is solid, but the execution..well..could be better. I'll dissect this one and rain down questions in a bit, same as what I did for the "Sandstorm" asset. Twice in one day..phew, this is rough
I talked to them and the BFL orders are actually from April, I think they may have messed up the wording on that...
Ah. The original post reads as if they haven't even ordered yet. While the actual situation is better....BFL's track record of shipping still does not inspire confidence.
I talked to them and the BFL orders are actually from April, I think they may have messed up the wording on that...
Roughly $65k for 50 MH/s.. I need to setup a scrypt mining company 
Woah, woah. That sounds pretty ambitious.
Can't tell if you aren't familiar with scrypt mining, didn't pick up the fact that he was stating scrypt mining speeds, or you are trolling. I'll assume one of the former.
After our initial raise, we are hoping to add up to 50 mhash to our network and further expand from there.
Woah, woah. That sounds pretty ambitious.
Can't tell if you aren't familiar with scrypt mining, didn't pick up the fact that he was stating scrypt mining speeds, or you are trolling. I'll assume one of the former.
I am quite faimiliar with scrypt mining.
I (seemingly failed) to show skepticism towards the original post. The contract on a whole is still quite vague, and statements such as "up to 50 mhash" do not do much to clarify any specifics- it's just filler language. On top of that, they say they plan to purchase ASICs from BFL.....which is likely a terrible avenue.
Roughly $65k for 50 MH/s.. I need to setup a scrypt mining company
Woah, woah. That sounds pretty ambitious.
Can't tell if you aren't familiar with scrypt mining, didn't pick up the fact that he was stating scrypt mining speeds, or you are trolling. I'll assume one of the former.
After our initial raise, we are hoping to add up to 50 mhash to our network and further expand from there.
Woah, woah. That sounds pretty ambitious.
Can't tell if you aren't familiar with scrypt mining, didn't pick up the fact that he was stating scrypt mining speeds, or you are trolling. I'll assume one of the former.
After our initial raise, we are hoping to add up to 50 mhash to our network and further expand from there.
Woah, woah. That sounds pretty ambitious.
Not sure in which way you mean that?
As in "thats nothing", because you are comparing it to SHA hashing? (And in that case, 50mhash SCRYPT is essentially the equivalent to 50GH on SHA)
Or "That's a lot to expect"
After our initial raise, we are hoping to add up to 50 mhash to our network and further expand from there.
Woah, woah. That sounds pretty ambitious.
Fund canceled. Please see my latest post in the following thread for more details: https://bitcointalksearch.org/topic/m.2753294
Hello!
We are proud to announce the upcoming IPO of Power Hash Mining. On Monday, July 15th, we will release 300,000 shares to the public.
PHM is dedicated to mining the latest crypto currencies while maximizing profits through choosing the best coins to mine and sell.
After our initial raise, we are hoping to add up to 50 mhash to our network and further expand from there. Below is the official release information.
Official Asset Page: https://www.havelockinvestments.com/fund.php?symbol=PHM
Mining stats and news will be listed on http://PowerHashMining.com when available.
After our initial raise, we are hoping to add up to 50 mhash to our network and further expand from there. Below is the official release information.
Let this be the official thread for discussion and questions!
Hello!
We are proud to announce the upcoming IPO of Power Hash Mining. On Monday, July 15th, we will release 300,000 shares to the public.
PHM is dedicated to mining the latest crypto currencies while maximizing profits through choosing the best coins to mine and sell.
After our initial raise, we are hoping to add up to 50 mhash to our network and further expand from there. Below is the official release information.
Official Asset Page: https://www.havelockinvestments.com/fund.php?symbol=PHM
Mining stats and news will be listed on http://PowerHashMining.com when available.
After our initial raise, we are hoping to add up to 50 mhash to our network and further expand from there. Below is the official release information.
Let this be the official thread for discussion and questions!
Quote
PHM - Power Hash Mining
Power Hash Mining (herein referred to as PHM) is a unique, specialized alt-coin mining company that dynamically mines various alt-coins for maximum profit.
PHM will mine alt-coins, including, but not limited to, Litecoin, Terracoin, Freicoin and any currently profitable crypto-currency available. Our hashing power will be aimed at different coins depending on each coin’s potential profitability. These coins will be sold at market to maximize their value and convert them into Bitcoin for dividend payment. Funds raised will go towards the expansion of our mining operation.
Shares
Each 1 share of PHM represents an equal share of the any net profits from mining and trading alt-coins.
Dividends
Shareholders will receive dividends weekly on each Wednesday. Dividends will be paid as 85% of the net profits earned after expenses. Mining expenses are Rent, Electricity, Replacement Parts, and Repair. Labour fees or time-consuming work will not be expensed and are covered by the 15% of profits being retained by the operators.
Coins will be converted to Bitcoin for dividend payments. Conversions will be done in a strategic fashion, to best maximize profits and minimally impact conversion rates.
IPO & Share Issuance
The initial public announcement will be on 7/12/13. This announcement will outline the plans and release dates for PHM. On 7/15/13 the initial public offering will be released at the Bitcoin equivalent value of $0.20 per share at the time of release.
Additional shares will be released in the future, for further expansion and growth. No set dates for these releases are planned at this time. After the initial IPO shares are sold and mining has started,we will assess when to announce and release additional shares. The price of newly issued shares will beset to the 7-day average price of the week prior. New shares will not be issued until any hardware purchased previously has been implemented and is mining.
Mining
Shareholders own all PHM mining equipment. Currently, PHM is GPU-mining Litecoins at approximately 2.4Mh/s. We have an established dedicated mining room, which is properly temperature-controlled and secured. PHM also has plans of purchasing 2 ASICS from BFL. These include one Jalapeno and one 30Gh/s miner. These will provide about 35Gh/s toward mining Bitcoin directly.
The primary coin being mined will be Litecoin, but we may switch to other promising alt coins at will. Provisioning of hashing power can be spread to multiple currencies. During times when no alt-coins are more profitable than Bitcoin, the mining power can easily be moved to mine Bitcoin instead.
Buyback Rights
The issuer has the right to buy back shares at any time at a price equal to 105% of the highest price seen during trading of the previous 7 days.
Voting Rights
Shareholders will be asked to vote upon decisions that affect shareholders as a whole or changes to this agreement. It is up to the discretion of PHM to determine the most profitable currency to mine.
Reserved Rights
The issuer reserves the following rights:
1. Make changes to this agreement, as long as it has the best interest of its shareholders in mind.
2. Create motions for changes to the business, contract, or strategy of the company.
Dissolution
In the event that mining becomes only marginally profitable or a losing effort, or an act of god causes such, PHM reserves the right to close the business. Existing hardware will be sold, and remaining funds will be distributed back to all shareholders as a special dividend. The owners of PHM cannot be held personally liable for any losses incurred due to investments.
Disclaimer
It is our intention to try and provide our shareholders the most profitable return as possible. As with all investments, there is always a risk, so do not invest more than you can afford to lose in the worst-case scenario. The owners and representatives, either directly or via passthroughs are in no way liable for any losses incurred.
Power Hash Mining (herein referred to as PHM) is a unique, specialized alt-coin mining company that dynamically mines various alt-coins for maximum profit.
PHM will mine alt-coins, including, but not limited to, Litecoin, Terracoin, Freicoin and any currently profitable crypto-currency available. Our hashing power will be aimed at different coins depending on each coin’s potential profitability. These coins will be sold at market to maximize their value and convert them into Bitcoin for dividend payment. Funds raised will go towards the expansion of our mining operation.
Shares
Each 1 share of PHM represents an equal share of the any net profits from mining and trading alt-coins.
Dividends
Shareholders will receive dividends weekly on each Wednesday. Dividends will be paid as 85% of the net profits earned after expenses. Mining expenses are Rent, Electricity, Replacement Parts, and Repair. Labour fees or time-consuming work will not be expensed and are covered by the 15% of profits being retained by the operators.
Coins will be converted to Bitcoin for dividend payments. Conversions will be done in a strategic fashion, to best maximize profits and minimally impact conversion rates.
IPO & Share Issuance
The initial public announcement will be on 7/12/13. This announcement will outline the plans and release dates for PHM. On 7/15/13 the initial public offering will be released at the Bitcoin equivalent value of $0.20 per share at the time of release.
Additional shares will be released in the future, for further expansion and growth. No set dates for these releases are planned at this time. After the initial IPO shares are sold and mining has started,we will assess when to announce and release additional shares. The price of newly issued shares will beset to the 7-day average price of the week prior. New shares will not be issued until any hardware purchased previously has been implemented and is mining.
Mining
Shareholders own all PHM mining equipment. Currently, PHM is GPU-mining Litecoins at approximately 2.4Mh/s. We have an established dedicated mining room, which is properly temperature-controlled and secured. PHM also has plans of purchasing 2 ASICS from BFL. These include one Jalapeno and one 30Gh/s miner. These will provide about 35Gh/s toward mining Bitcoin directly.
The primary coin being mined will be Litecoin, but we may switch to other promising alt coins at will. Provisioning of hashing power can be spread to multiple currencies. During times when no alt-coins are more profitable than Bitcoin, the mining power can easily be moved to mine Bitcoin instead.
Buyback Rights
The issuer has the right to buy back shares at any time at a price equal to 105% of the highest price seen during trading of the previous 7 days.
Voting Rights
Shareholders will be asked to vote upon decisions that affect shareholders as a whole or changes to this agreement. It is up to the discretion of PHM to determine the most profitable currency to mine.
Reserved Rights
The issuer reserves the following rights:
1. Make changes to this agreement, as long as it has the best interest of its shareholders in mind.
2. Create motions for changes to the business, contract, or strategy of the company.
Dissolution
In the event that mining becomes only marginally profitable or a losing effort, or an act of god causes such, PHM reserves the right to close the business. Existing hardware will be sold, and remaining funds will be distributed back to all shareholders as a special dividend. The owners of PHM cannot be held personally liable for any losses incurred due to investments.
Disclaimer
It is our intention to try and provide our shareholders the most profitable return as possible. As with all investments, there is always a risk, so do not invest more than you can afford to lose in the worst-case scenario. The owners and representatives, either directly or via passthroughs are in no way liable for any losses incurred.
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