Topic: [Proposal] Mining Co-Op - page 8. (Read 11341 times)

I'll be legitimately surprised if the SP50 comes in under $50K each. Buying 22x S7 to get the same hashrate would cost you over $40K, plus PSUs, plus the premium of having about 40% lower power consumption and, if it's like everything else SP has ever released, undervoltability (but this is very questionable given the released specs). $50-60k seems about right, which puts the 1MW cost around $3M.

I had a similar email from spondoolies. So Im looking to buy some BTCS stocks  

Only 0,14$ We could than write to them that we are shareholder.

With an investment that, large 10+ Sp50's, I think it would be worth while to form an LLC or S-corp... for protections on both ends before and after the purchase but thats just my 2 cents

Thank you for your email and your interest in the SP50. We are excited and proud to unveil our next generation machine as a breakthrough product for industrial mining.

With its extremely low power consumption and modular design the SP50 has been specifically designed for maximum power efficiency and ease of management.

Initially the SP50 will be offered in limited quantities only to a select group of customers. Due to the limited anticipated supply and overwhelming interest we initially intend to discuss purchases of the SP50 with certain significant shareholders, although this is not a requirement for purchase. If you have funding and are interested in a bulk purchase please reply to this email and let us know. If you are a BTCS shareholder please let us know that as well. Preference will be given to existing bulk customers and well-funded projects.

As we scale up production we hope to offer the SP50 to a wider market. At that time we will publish pricing and shipping terms as well as warranty information.

We thank you for your interest in the SP50 and look forward to working with you.

Me too

Look at this  

https://bitcointalksearch.org/topic/m.12509531

Another option is an escrow...

I have a question for those who are interested, and it's probably the most important one!

Who should be responsible for holding funds and distributing payouts?

I'm a little paranoid. I certainly wouldn't trust myself with this much cash if I were you, and I don't think my security practices are good enough to be confident in storing that many coins. I use cold storage, but I would be very nervous as a single point of failure. No way can I cover it out of pocket if it gets hacked, and then you and me and a few dozen other people are royally screwed. Plus, I'll get doxxed by some (rightfully) pissed off people!

We need someone who:

• Has experience storing large amounts of BTC, preferably someone who has run GBs/escrow services in the past.
• Has a huge amount of rep--and I mean a lot, and an established presence.
• We know the identity of (so we can have some form of recourse if shit hits the fan)

If you have any other requirements for this person, feel free to suggest them below!

We can do this in an even cooler way, too. We can create a multisig wallet under the control of multiple trusted members, deposit funds to that, and then do a big multisig transaction to the hoster & manufacturer (I can cc you guys in all my email communication). We should be able to get our hoster & manufacturer to sign their messages with PGP so you guys can verify I'm not talking to a sockpuppet!

Then we mine to a single address controlled by a trusted member. That way, there is only time a single person can run with the funds, and they can only take the current balance. We can have a failsafe to switch the mining payout address (set up beforehand) if this ends up happening. To those who have experience using multisig, do you think this plan makes sense?

I think a multi-sig wallet makes absolute sense but still finding people to trust with a presumably $50-$100k or more, lump sum of coins/cash will be difficult given the history of this industry.