Quote from: auto2nr1 on July 24, 2013, 04:46:40 PM

Quote from: onecent on July 24, 2013, 09:35:49 AM

if Garden will start IPO in 2 weeks ,i suggest Aiwill hand out the formal business plan ASAP, actually I am more worried about the suppley chain & internal operation etc. which related to the actual running of the business, rather than the tech... Wink

I would like to see a formal business plan and the structure of the business as well as how profits will be distributed. Hopefully he can get that ready so we can review it.

Contract & Prospectus
Locked!   This asset has been locked by the BTC-TC admins.
Ticker   STOCK: BTCGARDEN
Moderator Score   0 (0/0)
Moderator Votes   YES 0 / 0 NO (0 ABSTAINING -- Users with 10 or more shares of LTC-GLOBAL are allowed to vote.)
Shares   Outstanding 0 / 2400000 Issued
Issuer   btcgarden <admin@btcgarden.com>
Website   http://www.btcgarden.com
Forum   https://bitcointalk.org/index.php?topic=213172.0
Issuer Detail

[Business Name] BTCGARDEN
[Business Location (city/state/region/country)] BEIJING/SHENZHEN/XIAN/CHINA

[Email Address] admin@btcgarden.com

[About your Company] BTCSEA CO.,LTD, which was registered at Shenzhen,China in April,2013.Offices located in Shenzhen,Shanghai,Beijing,Xi`an,for mining-devices sales/ self-mining managements/websites maintenance.

Also,a HongKong company for the preparation of offshore is on standby

[Company Website URL] www.btcman.com; www.btcgarden.com; www.btcsea.com
[Linked-In Profile URL]

https://bitcointalk.org/index.php?topic=213172.0
http://bbs.btcman.com/forum.php?mod=viewthread&tid=3774&extra=page%3D1

http://www.btcgarden.com

Overview:
BTCGARDEN-Stock was created for a project of ASIC bitcoin mining that is ongoing by our group, named btc-garden (www.btcgarden.com). At the moment, we are at the stage of TAPE OUT.(LAYOUT finished on May)

We have started our project since Feb.2013.Also,according to our timetable, we will have around 200TH hashrate online on this Oct as our best situation.

Stockholder Agreement
Initial Offering:

2,400,000 shares of BTCGARDEN,which occupies 24% of BTCSEA CO.,Ltd`s market value, will be made available to the public at btct.co. First 1,000,000 shares will be put up in value beginning at 0.0185 BTC/share,the rest of 1,400,000 shares will be issued with higher price after the first 1,000,000 shares have been sold out.

Each share has the same dividends and there will be no more additional shares to be brought in unless a proclamation in advance, which, mostly likely,caused by a big movement/progress/project(examples:new generation of 40nm chips / full custom design systems / new large-scale hashrate deployment ). To protect the interests of shareholders,BTCGARDEN will never add more than 1,000,000 shares per half year.

Shares
Initially,each 1 share of BTCGARDEN represents to 1/10,000,000th of the dividends of the whole 10,000,000 shares.

All of the mining profits will be paid out to the shareholders of BTCGARDEN weekly through btct.co. As its earliest,it will be start from the middle of September,2013, while our first batch of chips(200-300T) arrive and start being deployed.To save the most precious time, we have already paid for this first big-amount batch ,all shareholders can therefore expect a quicker & higher return than normal.

Each share in public has no voting rights.

Guarantees & profits

With the whole net hashrate 200TH(JULY 2013) at the moment, 1000TH is a reasonable estimate at the end of 2013, we should then concentrate on deploying our devices for self-mining till 350TH since our goal is 35% occupancy of the whole net. We have already taken a big risk to tapeout our first batch of 200TH directly(without sample chips & prototype) since we have enough confidence on our Layout ability. Also,we will order the second batch immediately once we receive/test pass our first batch,which equal to at least 300TH more. Therefore,to compare with those potential competitors, we could have a very big advantage on production capacity in this year.We will then get a very huge return once achieve such an ambition.All shareholders will then be the main beneficiaries.

Reserved Rights

Issuer BTCSEA CO.,Ltd reserves the rights,including but not limited to the following:

1. To be in charge of the reinvestment of IPO funds.Pricing power of BTCGARDEN shares.

2. To compare with our huge expected income, the maintenance/company costs might be a small percentage in normal ,however,any extra costs due to any kinds of accidents are still possible.

3. The power to make the desicion on issue date& quantity & value of addtional shares (up to 1,000,000shares per half year as maximum/limitation)

Big return with risks

To compare with other mining-projects,even if a very conservative estimate of our first coming hashrate -200T as example,our initial shareholders are going to have a deal equal to 0.228 BTC/GH.which is way much cheaper than any other existed similar-projects.However, since our chips are still in the stage of TAPEOUT and haven`t been tested pass ,risks are still there.

Warnings:

including but not limited to the following

1. There are still several risky factors lead to a failure of this project like : the failure of our chips;the failure of first batch`s Tapeout ;the illness or other severe health or life problems of issuers; natural damages of our mining-rooms...etc.

2. Because of several uncertain factors ,the speed of deployments of our first 200TH self-mining rooms is somehow unable to be determined exactly .(1-2 months for the whole 200TH as the fastest)

3. Besides the problem of inadequate productive capacity of SMIC ,any delay due to any other unforeseen circumstances is still possible.

Executive Summary
* Hashing 7*24 with an overall 35% percentage of the whole network in long term.

* To occupy the market of user-hardwares and keep R & D the toppest products for Crypto currency-minning.

Q & A

Q:Do you guys have any relationship with ASICMINER or AVALON?

A: No, but we do have a similar background. We also had some contacts with them through either IM tools or in person, although some of their thoughts / behaviours are hardly accepted by us.

Q: how to guarantee the transparency ? I know that a 100% provable openness is impossible in BTC world,but what can you offer as your best?

A: A routine video will be made & uploaded every day to show out how much we have digged out. It will be better than pure pictures or photos which can easily be photoshoped. We may adopt a lot of methods like this to reduce the probability we do anything dirty.

Q: Is there a list to show out all the solutions of those possible accidents? For instance, chips broken within first year; unexpected huge hashrate influent our income so much;equipments in the machinery rooms get stolen; Website get hacked;how long time is needed for deploying the first 100T;how to define thefirst year, if there are some offline-days in the first year, is any kind of compensation/refund offeredetc.

A: Some of the risky factors are inevitable, it is the nature of this business.

Q:Companies like KnCMiner claim 28nm ASIC. I recall another person (i cannot recall the name) mentioning they were in the works for creating 28nm asics, will it crush yours?

A: In the present case (hundreds T size) , 28nm is totally unrealistic, it sounds like: pay millions more to save one dollar for electricity charges. With a rough calculation, 28nm would probably get a real advantage after hash rate achieve 50k+T

The thought that 28nm&45nm is "better" than 130nm is purely amateur, which nm number to choose depends on many factors, also, good optimizations in both FPGA and ASIC increase the function of chips so much, which means that, even for 130nm/110nm, there are still several aspects exist to improve.

We have no idea about what is the real plan of those 28nm`s. I am not saying that theirs are fake, but I see no reason to develop 28nm at the moment, which is, extreme expensive/sounds pretty cool/highest risk and lowest return.

Q:What is your main purpose for this IPO?

A: 1 we need money for our second batch of chips ,which equal to 300T more hashrate,since we need to order the wafers in very advance,it will be too late to pay for it if we use the bitcoins we can hashout on Sep.

2 As the nature of bitcoin world, we would like to decentralise and share our incomes with community.

3 BTC-based stocks are beneficial & helpful & useful for bitcoin`s promotion in our opinion, also, as a necessary part of our company, we hope to issue this stock as a trial implementation of capital operation.

Q: any info of your second generation chips?

A: Most likely it will be 55/40nm chips and, LAYOUT & TAPEOUT within this year.(maybe tapeout together with our 1st-gene chips from then on)

Q: The current Btc-stock-platforms are rudimentary and immature, unforeseen events might be too dangerous to potential investors.

A: Nothing can be absolutely safe . As a matter of fact, BTC and all of its supporting facilities are rudimentary ,imperfect, and full of variables too. However, It is the duty for all of early investors to undertake these risks . Please deliberate this problem.

Q :Do your team has enough confidence on Btc in long term?

A: Yes, although there are still several really big problems exist on Cryptography currency, they are still solvable and worth paying for .

Business Description
Purpose of this ipo

A: we need money for our second batch of chips ,which equal to 300T more hashrate,since we need to order the wafers in very advance,it will be too late to pay for it if we use the bitcoins we can mine out on Sep.

B: As the nature of bitcoin world, we would like to decentralise and share our incomes with community.

C: BTC-based stocks are beneficial & helpful & useful for bitcoin`s promotion in our opinion, also, as a necessary part of our company, we hope to issue this stock as a trial implementation of capital operation.

Current situation

Hashrate of our first batch will be around 200-300T(depend on whether & in what extent we over clock our chips).By far,we have prepared everything well,which means that we can start hashing immediately after we take the chips.The proportion of distribution of our chips on mining-hardware and self-mining-room depends on several factors like : how many orders we can have, the practice efficiency of our demo-hashing-room, the ROR of each of them..etc... it is also worth mentioning that we will start both of projects at the same time.

To compare to other teams,we at the moment have an advantage of deploying mining-rooms rather than sales&marketing. We will deploy our rooms in 3 cities (Beijing,Xi An,ShenZhen) in the meantime. Relatively, we are considering to accept outsourcing in terms of the sales & marketing & promotions of our user-mining-hardwares.

Definition of the Market
We mainly focus on Bitcoin-mining and relating-hardwares sales.

Products and Services
Tech Exhibition
a) Project Milestone
i. March 15th: We also signed the confidential contract with the IC manufacture and got the library for synthesis and layout.
ii. April 10th: Our RTL design, optimization and simulation were finished. We have some data to predict the specification of actual chips.

b) ASIC brief introduction
SMIC 0.13um;
Core Voltage: 1.2V;
I/O: Voltage: 3.3V;
Core Frequencey: 400MH/s;( @vdd 1.25V);
Number of Pads; 64;
Package lqfp64;

For more details please visit: https://bitcointalk.org/index.php?topic=213172.0

http://bbs.btcman.com/forum.php?mod=viewthread&tid=3774&extra=page%3D1

User-mining-hardwares

1. Price for our Garden Miner" will be 0.45BTC/GH, the prices of all models can therefore be calculated. This price is based on shippment Date: the end of Aug/start of Sep, any delay will make the price even lower.
2. Models of "Garden miner" include : 24GH,48GH,96GH,192GH, power consumption is approximate 5W/GH, i.e., the biggest 192GH `s P-consumption will be around 1KW.
3. Hope the "Plug and play" functionality will be added in the first generation("Simple-operation "is always our persuit,but we cant 100% sure we can do so in the first gene)

Organization and Management
About Us

BTCSEA Co.,Ltd (WWW.BTCMAN.COM, portals & information site in Chinese,with 25k registered members by far) is a full time bitcoin-related company from china; we currently have a decent PV of our forum & the main site.
In terms of the project of BTCGARDEN, all of our core members were graduated from CAS (Chinese Academy of Sciences), after graduation, some of them stayed there to do research works till now, while others make a living at Intel or Nvidia, I.e. we have both R&D Personnels from institute and practical engineers from mature industrial system. From a technical perspective, the difficulty of this project is really easier than many of our previous ASIC projects.

List of Us
ID:W.J, team leader, 8 years experience in system design.
ID:D.M , 3 years Intel experience in VLSI design( front-end and back-end ),5 years
Experience in system design and software design. In charge of ASIC design and software design.
ID: Xrange.G, 8 years Spreadtrum experience in VLSI design (front-end). In charge of RTL design, RTL verification.
ID: Kevin.S, 12 years HuaWei experience in VLSI design (front-end and back-end). In charge of FPGA verification, synthesis.
ID: Y.S, 4 years NIVIDA experience in VLSI design (back-end). In charge of physical design.

Marketing Strategy
Steps of our goal:

a) we will DIY-deploy our first batch of 200T at Shenzhen/beijing/Xian/Suzhou at the same time once the chips finished.
b) An extra 300TH will be in hand after we finish deploying the first 200TH(which might spend we 1-2months) because we will order new chips just after the moment the first batch of chips pass the test,the new 300TH will be a very powerful preparation for our future. (we can save 50 days at least by order it in advance.)
c) we will then keep DIY-deploying our chips,and maybe outsource the sale of our user-mining-hardwares.
d) The 2nd-gene chips will be finished Layout and start TAPEOUT within this year (maybe tapeout together with our 1st-gene chips from then on)

We plan to finish deploying 200T+ before the end of Nov,2013.We will then start our next generation chip`s research & keep adding new hashrates as much as we can (up to 35% of the whole network)

Financial Management
BTCSEA CO.,Ltd will be in charge of all IPO funds .Some remarkable advices from shareholders may be acceptable but we make the final decision. We will keep updating our website to list everything in details. Any big reinvest to add new hashrate or to develop new generation products will be tell in advance.