Our choice so far was Indiegogo, but we got a message saying we should look into Bitbank.  We were just exploring the best options for our expansion, and the fact the Bitbank is bitcoin related would make it easier for most to understand our concept, however; after reading the thread given in the response, Bitbank is more of a lending site then crowdfunding, so their structure does not fit within goals.  

@piloder, thanks for the advice and just submitted our PPM and projections to bnktothefuture.

Thanks, for the replies.

We would like your opinion about using BitBank for crowdfunding?  So if you have used or knowledge about their services your input is greatly  appreciated.

Since locking this thread, we did receive inquiries although not through our website.  First, we must iterate, that we are only here to gauge interest in our potential crowdfunding campaign.

Primary question asked was how are we going to keep up with the price fluctuations?  We are offering pre-paid Bitcoin at a savings of 25% - 45% off a set market price of $800.00 per Bitcoin.  Depending on how long you are willing to wait, the better the pricing will be.  We have included an image of the pricing schedule.


Also, we are not a cloud mining site, there would be no contract to sign, no maintenance fees or anything else related to cloud mining.  The crowdfunding campaign will be done through IndieGoGo.

Finally, Backers will receive a Bitcoin Paper Wallet from Columbia Basin Mining, where upon receipt of this paper wallet, the backer will have to confirm through our verification process.  Once confirmation is verified the wallet will be fully funded and available for immediate use.  We are taking these measures to ensure backer's that their bitcoin are safe until requested.

We ask anyone that has an interest in our campaign to please sign up through our website, and we will keep you informed on our progress.

To clear up any misconceptions and as a final post, Columbia Basin Mining started this thread only to gauge interest in a potential crowdfunding campaign that would be done through the well-known crowdfunding platform of Indiegogo. Our campaign has not yet been approved through Indiegogo and would only go forward if approved by Indiegogo. Part of the process Indiegogo goes through is to make sure that campaigns are not violating any SEC rules, which we are dedicated to following and the reason we chose Indiegogo as a known platform.

As most of you will understand, platforms like Kickstarter and Indiegogo are platforms for start-ups to raise funds in exchange for perks. Those perks are normally product offered as a perk at a reduced price. In our potential campaign, that perk happens to be a Bitcoin Paper Wallet at different amounts of Bitcoin at 25%-45% of face value. Kickstarter and Indiegogo have lots of information related to crowdfunding on their websites and you are free to read up about the crowdfunding rules. Crowdfunding does not violate SEC rules.  

We are appreciative of the legitimate inquiries made and we hope that our explanations were helpful. We realize that many people have perpetrated scams on the Bitcoin community. We are mindful of the skepticism and would not ask anyone to do anything they didn't feel comfortable doing when and if our campaign moves forward. We are closing the thread at this time to focus on getting approval from Indiegogo for our potential campaign. If you want to participate and receive updates on our progress, please sign up through our website.

The story and the bios on our website are the only stories and bios we have and are an accurate depiction of how we found ourselves in our current position. Our current operations are in Central WA, not in BC. The pictures of the building is the base HQ where we developed and will continue to manufacture our miners and do the testing. Our miners will be placed on different properties that we own or lease that have ample power of 2MW or more. The initial property for this potential campaign has 10MW available, which property is owned by one of the co-founders. Because of their proprietary nature, we cannot provide pictures of the miners at this time in order to protect the viability of the operation.

Arbitrage is done in several ways. The way you describe (simultaneous) and in a buy/hold type of scenario where a person buys currency on one exchange at a low price, holds as the market increases and then sells on another exchange for a higher price. However, your understanding of our perks is somewhat correct. Platforms like Kickstarter and Indiegogo are platforms for start-ups to raise funds in exchange for perks. Those perks are normally product offered as a perk at a reduced price. In our potential campaign, that perk happens to be a Bitcoin Paper Wallet at different amounts of Bitcoin at 25%-45% of face value.

First of all, The Indiegogo campaign has not yet been launched, we are not currently selling anything. It is being discussed here on this forum to gauge interest in a potential crowdfunding campaign. Crowdfunding offers exceptions to the normal securities laws in order to allow start-ups to raise funds to start their business through smaller amounts. The crowdfunding campaign will be done in accordance with the rules for crowdfunding. If Indiegogo determines that this campaign and its perks do not fit within the SEC exceptions for crowdfunding, then the campaign will not go forward.

Second, the Dodd-Frank Wall Street Reform and Consumer Protection Act does not specifically mention "streaming contract", which you can easily find out by doing a text search of the Act. But since you mentioned it, the reference to streaming contracts was a reference to gold mining and making a correlation to the perks being offered in this potential crowdfunding campaign.

At this stage, we came to the forum only to gauge interest in a potential crowdfunding campaign, which would be done through Indiegogo following all the rules of crowdfunding. Please be careful with accusing people of securities fraud.

We cannot predict what the market will be in the future, however, most predictions show that the price will continue to go up as seen in the articles that are posted on our website (Crowdfunding Opportunity) at the bottom of the page.

The idea behind our crowdfunding campaign comes from a typical way that traditional gold mine funds their operations. They use a streaming contract where the backer is pre-paying for Gold at a set price and receive a percentage of the mining production until the contract is fulfilled. CBM will be fulfilling perks from 62.50% of the mining production until all perks are fulfilled.

The best assurance we can give you is that the crowdfunding campaign will be done through Indiegogo. The backers will send their pledged amounts to Indiegogo and Indiegogo only releases those funds if the campaign is successful. All backers will be kept informed of the progress along the way through regular updates and progress reports through both Indiegogo and through a Campaign Updates page on our website.  Backers will receive regular newsletters updating them on progress and perk fulfillment.

Our base of operation is in the Columbia basin located in Central Washington State, where power expenses are very low.  As a perk to our backers, we are offering the bitcoin near the operational cost of our mining.  Please visit our website for complete pricing, as you can get Bitcoin as low as $440.

As for escrow, the crowdfunding campaign will be done through Indiegogo, as a fixed amount. Therefore funds will not be released to us unless and until the project is completely funded. If we don't reach the funding goal, then the money will be returned to the backers by Indiegogo.

The crowdfunding campaign will be done through Indiegogo, as a fixed amount.  Therefore funds will not be released to Columbia Basin Mining, LLC unless and until the project is completely funded. If we don't reach the funding goal, then the money will be returned to the backers by Indiegogo.

We do not show pictures of our miners due to the proprietary nature of our equipment.  We do have an image of the inside of our manufacturing building that will be fully operational upon successful of the campaign.  (Yes there is farming equipment inside during the winter).

This is not Cloud Mining. It is a crowdfunding campaign where backers are rewarded with a set amount of Bitcoin at below market values, which creates an arbitrage opportunity. Arbitrage is the purchase and sale of an asset to profit from a difference in the price. So since the Bitcoin perk is set at a below market value, the backer can cash that Bitcoin in at a higher current market price.

While our strategy has changed a little, we are still moving forward. Since that previous thread, we have come much further on our design and added key personnel to our group. Instead of offering ownership, we are offering Bitcoin perks to our backers.

CBM has developed its own proprietary mining equipment that allows mining to be more efficient. This allows us to be able to offer pre-paid Bitcoin at below-market pricing. Arbitrage is the purchase and sale of an asset to profit from a difference in the price. So since our backers will pay a below-market price for Bitcoin, they will have the ability to exchange the Bitcoin for the current higher market price or hold for a future exchange. Depending on when one is willing to wait for delivery of their Bitcoin, the greater the arbitrage opportunity will be.

Arbitrage is the purchase and sale of an asset to profit from a difference in the price. It is a trade that profits by exploiting the price differences of identical or similar financial instruments on different markets or in different forms. In this case, you are pre-paying for Bitcoin at a price that is below the average marked price for Bitcoin and you can sell the Bitcoin at the much higher current exchange rate. Arbitrage is a technique used by millions of day traders every day. In day trading, this is normally done simultaneously; however, if the market price is on an upward trend, then you may choose to hold it for bigger profits.

It is not arbitration, it is arbitrage. Arbitrage is the purchase and sale of an asset to profit from a difference in the price. It is a trade that profits by exploiting the price differences of identical or similar financial instruments on different markets or in different forms. In this case, you are pre-paying for Bitcoin at a price that is below the average marked price for Bitcoin and you can sell the Bitcoin at the much higher current exchange rate.

Columbia Basin Mining is not a cloud mining operation. In a cloud mining operation, you purchase hashing power and pay the expenses of the operator, which is why the one purchasing hashing power may have a hard time making a profit.  Also with cloud mining, your profitability decreases as the difficulties increase.  In our crowdfunding campaign, you are pre-paying for a set amount of Bitcoin and so you know exactly what you are getting for the price, there are no expenses or difficulties to worry about.

Columbia Basin Mining, LLC (CBM) is expanding its Bitcoin mining operation by 10MW. Our plan is to launch a crowdfunding campaign to provide capital for the expansion.

The crowdfunding campaign will feature some exciting perks which will allow backers to obtain Bitcoin at $600 or less. To gauge interest in this campaign, we have launched our CBM website www.columbiabasinmining.com.

Please visit our website, where you can find more detailed information and sign-up to receive updates related to the campaign.

Just got back from holiday and read this post.


digaran said it best, why would we want to share in all our work with others, are they going to share equally in our electrical cost too.

We have had two inquiries so far.  I would like to have at least 5 professional writer to choose from.

Thanks for your time.

We are seeking a professional business plan writer.  This business plan will be for bitcoin mining, so extensive knowledge about bitcoin mining is also desired.

We do have a current business plan, but need to refine and add information. 

Please send us a PM with your qualification, and pricing.  We are not looking for the cheapest price, we are looking for quality of work.

We will not answer any questions regarding our business plan in the open forum.

Guy:

Sorry to see you go, and I thank you for taking the time to speak me in the past. 

I wish you well sir.

CBM