5.1 - Loan of Mining Hardware By Founders
The founding members will initially contribute their own personal mining hardware to the syndicate. They will be rewarded for this contribution in the form of shares as is outlined in section 4.1
This contribution of hardware will be a loan. The hardware will be returned to the original owner when one of the following conditions is met (whichever comes first)
* Midnight on March 31st 2013 is reached (one year from the end of the initial ipo period)
* The average mining power of hardware fully owned by the Syndicate (measured and averaged over a 30 day period) exceeds 50 GHash/s
* The Syndicate is dissolved via the terms of section 3.5
* A motion is passed under the normal terms of section 3.3 which ends the loan period prematurely, granting the hardware back to the original owner
Once the loan has completed, the founding member who owns the hardware may choose to continue to contribute it's mining power to the Syndicate as they see fit, but they can also stop contributing whenever they choose after this point
LOL
So.. basically BTC-SYN will be worth 700 canadian dollars in some months. 700/12000 makes 0.053 Dollar per share! woohoo!
when the fuck did you put up this new contract?!! i didnt vote on it and i doubt anybody would!
..explain this to me.
bitcoin syndicate lost 3000 bitcoin in under a year?! 100% of its value?
...