Author Topic: [LTC-GLOBAL] BUY-A-HASH  (Read 286355 times)

Offline Benny

  • Sr. Member
  • ****
  • Posts: 667
    • www.buyahash.com
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #60 on: May 21, 2013, 10:02:32 PM »
Also, as a quick update:

We put the security deposit down on the building today. Expected move-in date is June 15th, but the management company said we may be able to get in earlier. In talks with an electrician about adding the 400a panel, and another contractor about our HVAC needs. Goal is to try to have everything done as fast as possible, so we can begin hashing as soon as possible.

Offline adizzy

  • Newbie
  • *
  • Posts: 8
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #61 on: May 23, 2013, 12:36:48 PM »
Will buy a few this week end. Do you have plans to issue a few more ? Also how long does it take you to get the hardware up and hashing if I were to buy today ? On the 15th ?
« Last Edit: May 23, 2013, 01:01:15 PM by adizzy »

Offline Benny

  • Sr. Member
  • ****
  • Posts: 667
    • www.buyahash.com
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #62 on: May 23, 2013, 03:17:47 PM »
Will buy a few this week end. Do you have plans to issue a few more ? Also how long does it take you to get the hardware up and hashing if I were to buy today ? On the 15th ?

I have 200 shares that are still in my possession, but I'm holding them back for special issue.

We're working on getting physical possession of the building, to start hashing. As per their comments, we're looking at moving in on or before June 15th. From there, it'd take us a few days to get hardware installed, and so on.

So the goal is late June to start paying dividends. Once we prove our hash power, I will contact the exchange owner, and request issuance of more shares. That way, you can get in on the hashing right when we're starting, and not have to wait.

Offline pinetor

  • Jr. Member
  • **
  • Posts: 30
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #63 on: May 23, 2013, 08:02:16 PM »
Ok for those of us that are old and slow...

Step to get involved with this:
sign up at litecoinglobal
move LTC from our wallet to the that account
use account to bid on bonds on their exchange

that sound about right??
how do you know who the bond buyers are?
we are getting paid in LTC via the .5Kh each share brings? or we are getting .5kh as a worker? I am confused

Offline adizzy

  • Newbie
  • *
  • Posts: 8
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #64 on: May 23, 2013, 09:41:19 PM »
If I understood correctly, from the 0.5kh we get, 20% (0.1kh) is taken off for repairs etc... What about electricity? How do you pay it?will you reinvest with the 0.1kh? If so, does our bond increase in value (in khs)

Offline colmex

  • Full Member
  • ***
  • Posts: 277
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #65 on: May 24, 2013, 02:23:34 AM »
If I understood correctly, from the 0.5kh we get, 20% (0.1kh) is taken off for repairs etc... What about electricity? How do you pay it?will you reinvest with the 0.1kh? If so, does our bond increase in value (in khs)
I think it's not like that.
From what I understand from the contract.

with .3 litecoins or ~$1 per bond you get 1khash/s of hashrate, but then taking off all the costs of running, electricity etc, you should expect to get an average of .5khash/s of hashrate per bond. Meaning sometimes it will be higher sometimes lower but on average an expected .5khash/s

Offline MojoJojo

  • Jr. Member
  • **
  • Posts: 69
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #66 on: May 24, 2013, 02:50:44 AM »
Has burnside gotten back to you or will you be opening up a new asset for the additional shares?

Offline Benny

  • Sr. Member
  • ****
  • Posts: 667
    • www.buyahash.com
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #67 on: May 24, 2013, 02:53:36 AM »
To simplify it, and make it as straightforward as possible:


When you buy 1 share (initially valued at 0.3 LTC), you get 0.5 KHs of constant hashing power, returned to you as a dividend weekly. I pay for pool fees, maintenance, electricity, management, variance. Everything is covered (as I get about 1 KHs out of the USD once I convert - I keep that 0.5 KHs for the various things I pay for on my end).

That way, its about as transparent as you can get. If you don't get 0.5 KHs of constant power (no downtime), then you know I'm ripping you off, or your not getting what you should out of the bond.

Initially, the bond will not increase in value in regards to performance per KHs. However, if we can beat our own internal expectations (for performance), I may move to make a motion to increase the performance of the bond.

As for more shares - I've talked it over with Burnside. What we are doing is planning on issuing a large number of additional shares (50,000 - 100,000) a few weeks after we prove that we're 100% legitimate. That way, everyone knows I'm not scamming, and you can rest easy with your investment.

So in the end, don't worry if you missed out on the 1st round. If you put a buy order in, we WILL eventually fill it. It may take a few weeks, but I have every incentive to issue more bonds, as I think we can make a huge farm out of what we're planning on doing.

Offline SayMyName

  • Jr. Member
  • **
  • Posts: 113
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #68 on: May 24, 2013, 01:03:32 PM »
Will the new bonds be released at the last price you proposed, 0.33 LTC?  It seems difficult to guarantee considering "a few weeks" of  LTC fluctuations and trade of your bond.

Shouldn't someone's interested buy/trade at a slightly higher price today than at an unknowable price later, or has trading been disabled altogether?  I noticed that the market line has gone perfectly flat...

Offline Benny

  • Sr. Member
  • ****
  • Posts: 667
    • www.buyahash.com
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #69 on: May 24, 2013, 02:35:45 PM »
Will the new bonds be released at the last price you proposed, 0.33 LTC?  It seems difficult to guarantee considering "a few weeks" of  LTC fluctuations and trade of your bond.

Shouldn't someone's interested buy/trade at a slightly higher price today than at an unknowable price later, or has trading been disabled altogether?  I noticed that the market line has gone perfectly flat...

Unfortunately, when I proposed the motion, I was under the assumption that we could issue more bonds rather quickly to satiate demand (which was about 20,000 bonds @ 0.3 - 0.33). Burnside felt that waiting would be more appropriate. He's the pool owner, so the last thing I want to do is cause issues between our bond and the exchange, so we'll just wait until we have some hardware running for the company. Once its up (say, 20-25MH), I'll go back and request more bonds based on what we can have as maximum capacity.

Offline Carnth

  • Elite Member
  • ****
  • Posts: 2307
  • Litecoin Association
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #70 on: May 24, 2013, 06:26:26 PM »
Step to get involved with this:
sign up at litecoinglobal

Yes.


move LTC from our wallet to the that account

Yes.


use account to bid on bonds on their exchange

Yes! You got it.


how do you know who the bond buyers are?

When you buy a bond, Benny (the asset issuer) gets a list of all the bond holders. This list contains the email address of each bond holder and how many they have.


we are getting paid in LTC via the .5Kh each share brings? or we are getting .5kh as a worker? I am confused

You get paid when Benny gets the hardware setup and hashing. Keep watching this thread for additional news from Benny about when that will happen.
The bond promises 0.5Kh at a minimum. This correlates to the same Kh that miners use when they talk about has fast their mining rigs are is.

Two things directly affect how much you will earn (as dividends) from holding this bond.
1. How many bonds you hold (of course).
2. The Litecoin Difficulty.

To fully understand why Difficulty affect your dividend, I would recommend reading How mining and the block chain works.

You can roughly calculate how much you can expect to earn by using this online mining calculator.
Just take the number of bonds you have, multiply by 0.5. Take that number and input it in the calculator and you will get an earnings estimate.

Make sure to come back to this calculator often, as the difficulty changes about every 3 days or so.

Offline nycgoat

  • Newbie
  • *
  • Posts: 9
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #71 on: May 25, 2013, 03:47:10 PM »


You get paid when Benny gets the hardware setup and hashing. Keep watching this thread for additional news from Benny about when that will happen.
The bond promises 0.5Kh at a minimum. This correlates to the same Kh that miners use when they talk about has fast their mining rigs are is.

Two things directly affect how much you will earn (as dividends) from holding this bond.
1. How many bonds you hold (of course).
2. The Litecoin Difficulty.

To fully understand why Difficulty affect your dividend, I would recommend reading How mining and the block chain works.

You can roughly calculate how much you can expect to earn by using this online mining calculator.
Just take the number of bonds you have, multiply by 0.5. Take that number and input it in the calculator and you will get an earnings estimate.

Make sure to come back to this calculator often, as the difficulty changes about every 3 days or so.

Also keep in mind that the reward will half.

Offline Benny

  • Sr. Member
  • ****
  • Posts: 667
    • www.buyahash.com
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #72 on: May 25, 2013, 09:53:20 PM »


You get paid when Benny gets the hardware setup and hashing. Keep watching this thread for additional news from Benny about when that will happen.
The bond promises 0.5Kh at a minimum. This correlates to the same Kh that miners use when they talk about has fast their mining rigs are is.

Two things directly affect how much you will earn (as dividends) from holding this bond.
1. How many bonds you hold (of course).
2. The Litecoin Difficulty.

To fully understand why Difficulty affect your dividend, I would recommend reading How mining and the block chain works.

You can roughly calculate how much you can expect to earn by using this online mining calculator.
Just take the number of bonds you have, multiply by 0.5. Take that number and input it in the calculator and you will get an earnings estimate.

Make sure to come back to this calculator often, as the difficulty changes about every 3 days or so.

Also keep in mind that the reward will half.

The reward will not halve until block 840,000. That's very, very far away (We're only on 360,000).

Offline pankkake

  • Newbie
  • *
  • Posts: 16
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #73 on: May 25, 2013, 11:57:07 PM »
Unless I'm mistaken, there is also a plan to mine other scrypt altcoins.

They can be profitable for some amount of time; for example doing the first hours of mining of the new altcoin of the day could bring interesting results. I did it for a few, even with my very small hashrate it was good, however I don't do it anymore due to lack of time.

Offline Benny

  • Sr. Member
  • ****
  • Posts: 667
    • www.buyahash.com
Re: [LTC-GLOBAL] BUY-A-HASH
« Reply #74 on: May 26, 2013, 03:51:05 AM »
Unless I'm mistaken, there is also a plan to mine other scrypt altcoins.

They can be profitable for some amount of time; for example doing the first hours of mining of the new altcoin of the day could bring interesting results. I did it for a few, even with my very small hashrate it was good, however I don't do it anymore due to lack of time.

Yes, this is correct. We are working on a custom UI that will allow us to allocate a portion of hashing power to new/emerging altcoins. Obviously, I don't want to allocate much power to them, as they seem to be hit or miss. But imagine having a few (ten) thousand FTC before the dump began.... That would be lucrative. Actually, we hit FTC real hard when it came out, but the investors wanted LTC, so I left at a time we were making thousands a day.

With >50,000 KHs, we can easily send a few thousand KH to emerging coins, without investors being hit too hard. In that sort of scenario, we can hedge against poor profitability. Alternatively, if we strike a good coin, the profits can be considerable for investors.