Topic: [PicoStocks] 100TH/s bitcoin mine [100th] - page 89. (Read 469872 times)
3. if someone wants to invest more than $1K, PicoStocks has 3 bank accounts. We can help with such transactions of course.
Why don't you simply price your shares in USD (and use a payment processor like BitPay) if your main business is done in USD/fiat?
We like BTC :-) Of course USD would be safer and easier but I want to make other people familiar with BTC :-) All assets will be traded in BTC unless we decide that this is impossible to keep due to extreme deflation.
Seriously, you want to raise 500k USD, not a random amount of BTC that might or might not be worth ~500k USD maybe in a few weeks. Also, how will you get that money then? Ever tried to transfer any 6-digit amount of USD off an exchange?!
1. We work on a "trusted account" :-)
2. The money can wait for some time. We have most funds for the NRE now.
Why don't you simply price your shares in USD (and use a payment processor like BitPay) if your main business is done in USD/fiat?
Seriously, you want to raise 500k USD, not a random amount of BTC that might or might not be worth ~500k USD maybe in a few weeks. Also, how will you get that money then? Ever tried to transfer any 6-digit amount of USD off an exchange?!
This is just the first thing that really cought my eye here, there is much more but not worth my time really.
Seriously, you want to raise 500k USD, not a random amount of BTC that might or might not be worth ~500k USD maybe in a few weeks. Also, how will you get that money then? Ever tried to transfer any 6-digit amount of USD off an exchange?!
This is just the first thing that really cought my eye here, there is much more but not worth my time really.
After failed IPO* of the 72TH-mine (due to default of the manufacturer) and first delivery of ASIC products by Avalon we decided to float an asset based on alternative ASIC development project conducted in close collaboration with BitFury.org. The new mine (100TH-mine) will have much better profitability than the previous project.
Summary:
Strong aspects:
- low investment costs: only $5 / 1GH/s (4 times cheaper than competing products)
- low maintenance costs due to low power dissipation of the chip: approximately 0.2-0.3 Watt / 1GH/s (4-20 time better than competition)
- 4 year manufacturer warranty
Weak aspects:
- chip not tested yet, tape out in 1 month (full mask, engineering run), final simulation results will be posted in 2 weeks
- deployment of 100TH-mine in July 2013
Details:
The proposed project is a 100 terahash/s Bitcoin mine. The hashing hardware will consist of mining boards developed in collaboration with BitFury. Today’s network hashing power is 4 times lower than 100TH/s but this situation will change dramatically in the next 4 months before the deployment of the hardware. The hardware will be located in the datacenter operated by MegaBigPower.com. The monthly maintenance and management costs will be kept at the 5k USD level. Hardware will be produced and assembled in June 2013. Mining will start at the data center on 2012-07-01. Estimations based on a predicted realistic continuous monthly network hashrate increase of 100TH/s (starting from 0TH/s on 2013-01-01) and BTC exchange rate of 17 USD point to a return of investment of 500k USD in 3 months after mining starts, i.e. in September 2013. Total income over the next 4 years after subtraction of the initial investment costs of 500k USD amounts to 2.7M USD. The suggested valuation of the venture is 500k USD (5 USD per 1GH/s, 1 USD per share), which is currently much below the retail purchase price of the hardware from competing suppliers. The venture will be legally operated as a PicoStocks project. No separate legal entity will be created.
The main risk of the project is the delay of the installation of the mining equipment. PicoStocks, legally responsible for the project, will reimburse investors if an income of 1M USD (10 USD per 1GH/s, 2 USD per share) will not be achieved by the mine until end of 2016 due to delayed installation.
The venture has 750 000 shares. If more than 500 000 shares will be ordered the hashing power will be increased proportionally above the expected 100TH/s to 150TH/s if all shares are sold. Each share is valued at 1 USD (recommended price) and corresponds to 0.2 GH/s. Shares that will not be ordered will be erased and a smaller mine will be deployed. The management costs will be decreased proportionally. The minimum price is 0.04 BTC which is below the expected price of 1 USD per share so the minimum valuation of the project is 400k USD for 100TH/s at an USD/BTC exchange rate of ca. 20 (today). The suggested price per share is 0.05 BTC, which corresponds to 1 USD per share and a valuation of the asset at 500k USD for 100TH/s. We offer a minimum price of 0.04BTC only because we worry that the exchange rate can rise in the coming 2 weeks before the IPO will be closed (in 2 weeks from now).
Business plan: http://picostocks.com/businessplan/19
Asset: http://picostocks.com/stocks/view/19
Summary:
Strong aspects:
- low investment costs: only $5 / 1GH/s (4 times cheaper than competing products)
- low maintenance costs due to low power dissipation of the chip: approximately 0.2-0.3 Watt / 1GH/s (4-20 time better than competition)
- 4 year manufacturer warranty
Weak aspects:
- chip not tested yet, tape out in 1 month (full mask, engineering run), final simulation results will be posted in 2 weeks
- deployment of 100TH-mine in July 2013
Details:
The proposed project is a 100 terahash/s Bitcoin mine. The hashing hardware will consist of mining boards developed in collaboration with BitFury. Today’s network hashing power is 4 times lower than 100TH/s but this situation will change dramatically in the next 4 months before the deployment of the hardware. The hardware will be located in the datacenter operated by MegaBigPower.com. The monthly maintenance and management costs will be kept at the 5k USD level. Hardware will be produced and assembled in June 2013. Mining will start at the data center on 2012-07-01. Estimations based on a predicted realistic continuous monthly network hashrate increase of 100TH/s (starting from 0TH/s on 2013-01-01) and BTC exchange rate of 17 USD point to a return of investment of 500k USD in 3 months after mining starts, i.e. in September 2013. Total income over the next 4 years after subtraction of the initial investment costs of 500k USD amounts to 2.7M USD. The suggested valuation of the venture is 500k USD (5 USD per 1GH/s, 1 USD per share), which is currently much below the retail purchase price of the hardware from competing suppliers. The venture will be legally operated as a PicoStocks project. No separate legal entity will be created.
The main risk of the project is the delay of the installation of the mining equipment. PicoStocks, legally responsible for the project, will reimburse investors if an income of 1M USD (10 USD per 1GH/s, 2 USD per share) will not be achieved by the mine until end of 2016 due to delayed installation.
The venture has 750 000 shares. If more than 500 000 shares will be ordered the hashing power will be increased proportionally above the expected 100TH/s to 150TH/s if all shares are sold. Each share is valued at 1 USD (recommended price) and corresponds to 0.2 GH/s. Shares that will not be ordered will be erased and a smaller mine will be deployed. The management costs will be decreased proportionally. The minimum price is 0.04 BTC which is below the expected price of 1 USD per share so the minimum valuation of the project is 400k USD for 100TH/s at an USD/BTC exchange rate of ca. 20 (today). The suggested price per share is 0.05 BTC, which corresponds to 1 USD per share and a valuation of the asset at 500k USD for 100TH/s. We offer a minimum price of 0.04BTC only because we worry that the exchange rate can rise in the coming 2 weeks before the IPO will be closed (in 2 weeks from now).
Business plan: http://picostocks.com/businessplan/19
Asset: http://picostocks.com/stocks/view/19
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