We are winding down this asset, and have decided to accept a price of 12 BTC from TradeFortress for our 2 Avalons. The upcoming final dividend will include a redistribution of funds from this sale.

The board would like to thank you all for mining with us. We hashed 123 BTC so far, and will be receiving an additional 12 BTC, a total of >135 BTC.

We could have sold our units initially for a price similar to 135 BTC. However, this was not the will of the majority of FENIX shareholders. We wanted to mine, and that's what we did.

The board considers the entire FENIX experience to be a huge success! Good work!

Hi Daeiro,

PM sent to you.   

Enjoy,   

FenixPR

Our most recent motion was passed unanimously!

To clarify the changes:

60% of FENIX revenues now go directly into our Reinvestment Growth Fund
40% Are paid out in the form of a weekly coupon on Thursdays

TO ALL FENIX SHAREHOLDERS!

The time has come to make a decision regarding the distribution of our incoming BTC.

The board's recommendation is as follows:

- 60% Allocated to hardware reinvestment
- 40% Distributed in the form of a weekly dividend

Reinvestment will be directly in mining equipment, and may include the purchase of shares in group buys.

Voting is open for 72 hours.

Please send a private message to FenixPR matching the template below:

###

I, ____ , own X shares of Fenix, my BitFunder address is:

(example) 1AJtCkse7ZLV3Mb1VwhhFEEV9fSsZobVss


I vote YES or NO on:


Funds being split 60% for direct hardware reinvestment (including the possibility of group buys), and 40% to be distributed in the form of a weekly coupon.


Notes/Recommendations:


###

Signature:

(example) IHaX/N/jvaQXKxvavFZLs47f52+u0Q43H3M1LYuvJvF/l6ZiMJfbMGAnjm8tocNKXS4pSffJySn1hpuPK14iOno=


Signed using:

(example) Bitcoin-QT


___


If any of you are not familiar with the process of signing a message, pls refer to the instructions below:

1. Go to http://blockchain.info/wallet/ and create a new wallet.
2. Login. And go to "Import / Export"
3. Go to "Import" in the left navigational panel.
4. Import your bitcoin address that is associated with your bitfunder.com account. This needs to be the address that is listed* on https://bitfunder.com/assetlist
5. Now go to "Receive Money" link.
6. Find your address that you just imported, and click on the "Actions" drop down to the right of it.
7. Click on Sign Message
8. Copy-paste the message and click "Sign Message" button. You will be shown a signature.
9. Send in your address, your exact signed message text, and your signature that they provide.


* If you don't own the private keys to the address listed on https://bitfunder.com/assetlist (say its a mtgox address or something) then please change your address first.
1. Create a new wallet at http://blockchain.info/wallet/
2. Login and go to "Receive Money" - you will see a new bitcoin address over there.
3. Now go to http://bitfunder.com and login in
4. Go to "Settings" page
5. On the bottom right hand side, you will see a field for "Public Bitcoin address" - paste your new blockchain bitcoin address over here and click "Change Public Bitcoin Address".
6. Go to the https://bitfunder.com/assetlist and confirm that your public address has been updated for the Bakewell security.
7. Then login to blockchain.info/wallet and proceed from Step 5 in the list above.

Coupons are paid at ฿0.00011056 per share.

Coupons are paid at ฿0.00027716 per share.

Coupons are paid at ฿0.00021346 per share.

It appears shareholders want to order fresh equipment asap AND have some shares in BTCGARDEN and LABCOIN. The other option that has been suggested by several parties is to place a % of the fund into Coinlenders and/or Ukyo.Loan while we wait to accumulate BTC for a hardware purchase.

We need to tweak these numbers to best suit everyone:

LABCOIN 25%
BTCGARDEN 25%
Ukyo-Loan 25%
Coinlenders 25%
CASH 0%

note: funds placed in loans would be available for the hardware purchase (no long term loans)

and select which unit to order:

https://www.hashfast.com/baby-jet/
http://www.bitfurystrikesback.com/shop/
https://www.kncminer.com/

Based on voting it appears we could probably go ahead and invest 50% of the growth fund into BTCGARDEN and LABCOIN. However, we would like to open up the discussion and see if we can nail down all of our upcoming decisions in one fell swoop, based on your feedback. What exactly do you guys want to do?
 

TO ALL FENIX SHAREHOLDERS!

The time has come to vote on how to invest 50% of our Growth Fund. The Board recommends we acquire a position in at least two of the following mining assets: LABCOIN and BTCGARDEN (BTC-TC), and ICEDRILL (BitFunder).

We feel this investment is a balanced choice which keeps the focus squarely on Bitcoin mining. Holding these assets offers us the chance to profit from growth, as well as the opportunity to increase our capital resources with cutting-edge hardware.

As always, we are open to suggestions. The investment of the entirety of our Growth Fund will be discussed shortly after this vote is completed.



Please send a private message to FenixPR matching the template below:


###

I, ____ , own X shares of Fenix, my BitFunder address is:

(example) 1AJtCkse7ZLV3Mb1VwhhFEEV9fSsZobVss


I vote YES , NO, or ABSTAIN on:


Use 50% of Growth Fund for investments in LABCOIN, BTCGARDEN, and/or ICEDRILL shares.


Notes/Preferences:

(we value all additional commentary)

###

Signature:

(example) IHaX/N/jvaQXKxvavFZLs47f52+u0Q43H3M1LYuvJvF/l6ZiMJfbMGAnjm8tocNKXS4pSffJySn1hpuPK14iOno=


Signed using:

(example) Bitcoin-QT


___



If any of you are not familiar with the process of signing a message, pls refer to the instructions below:

1. Go to http://blockchain.info/wallet/ and create a new wallet.
2. Login. And go to "Import / Export"
3. Go to "Import" in the left navigational panel.
4. Import your bitcoin address that is associated with your bitfunder.com account. This needs to be the address that is listed* on https://bitfunder.com/assetlist
5. Now go to "Receive Money" link.
6. Find your address that you just imported, and click on the "Actions" drop down to the right of it.
7. Click on Sign Message
8. Copy-paste the message and click "Sign Message" button. You will be shown a signature.
9. Send in your address, your exact signed message text, and your signature that they provide.


* If you don't own the private keys to the address listed on https://bitfunder.com/assetlist (say its a mtgox address or something) then please change your address first.
1. Create a new wallet at http://blockchain.info/wallet/
2. Login and go to "Receive Money" - you will see a new bitcoin address over there.
3. Now go to http://bitfunder.com and login in
4. Go to "Settings" page
5. On the bottom right hand side, you will see a field for "Public Bitcoin address" - paste your new blockchain bitcoin address over here and click "Change Public Bitcoin Address".
6. Go to the https://bitfunder.com/assetlist and confirm that your public address has been updated for the Bakewell security.
7. Then login to blockchain.info/wallet and proceed from Step 5 in the list above.

I have sent you a PM with instructions.

Apologies for the delayed information.

Trading on https://bitfunder.com/asset/Fenix commenced at:

2013-08-05 22:00:00 UTC



The first Fenix dividends will be paid at approximately:

2013-08-06 02:00:00 UTC

Thanks for your patience!

Hi tysat.

We have recently set up the FenixPR account, to serve as the information account of the Fenix mining asset on Bitfunder.

In a nutshell, Fenix is the result of a shareholder action to recover assets stolen by Ian Bakewell when he ran away from all his obligations to shareholders in what has become widely known in the Bitcoin world as the Bakewell scam. You can read all about the background to this at scammer-ianbakewell.com.

Fenix is operating 2 Avalon mining units to provide dividends to the abandoned Bakewell shareholders, and retaining 30% of mining profits as a growth fund, with the aim of expanding mining operations in the future.

The four shareholders who were most active in the recovery, and have since been elected as the Fenix board by shareholders administrate this account, are all experienced bitcointalk users with over 760 posts between us.

We would really appreciate it if it would be possible to remove some of the restrictions on this new account as we increasingly need to post and send PM's and the restrictions such as the captcha, the time limit between posts, the post limit per day are proving to be extremely frustrating.

Thank you.

The Fenix board on behalf of Fenix shareholders.

The Bakewell saga continues over here:

https://bitcointalk.org/index.php?topic=265521.0

with a success story and a new beginning!

The Bakewell saga continues over here:

https://bitcointalk.org/index.php?topic=265521.0

with a success story and a new beginning!

Fenix updates

We are currently mining on BTC Guild, team Fenix.

https://www.btcguild.com/index.php?page=rankings§ion=teams

First dividends will be paid on Monday 5th August.  

If you haven't transferred your Bakewell shares yet, it would be good if you can do it before Monday. Any problems with transfers, please PM FenixPR.



Trading on https://bitfunder.com/asset/Fenix commenced at:

2013-08-05 22:00:00 UTC



The first Fenix dividends will be paid at approximately:

2013-08-06 02:00:00 UTC

Fenix FAQ


Q. What was the Bakewell scam?

The Bitcoin mining IPO Bakewell was launched in 2012. Investors bought in because Bakewell himself appeared highly transparent by making his photo and contact details public, and being very communicative. In the end Ian Bakewell absconded with two Bakewell Mining Avalon ASIC pre-orders, 4000 CAD worth of mining equipment, and mining profits. Property that rightfully belonged to Bakewell shareholders.

Q. How was Fenix born?

By the time Ian Bakewell was revealed to be a scammer, most investors thought it was too late to do anything about it. A very few, including strello, nameface, TradeFortress, and wisard thought differently. They stayed in constant communication over bitcointalk, and fought hard for months to recover the units.

Q. How were the Avalon ASICs recovered?

Effective communication channels were opened with Avalon and the board received assurances the units would be considered the property of Bakewell shareholders if we could provide legal proof of our claim. A legal fund was created and a lawyer was hired to review the case and provide a legal means of acquiring the devices.

Q. How was the name Fenix chosen?

We had many good suggestions for names such as Scambusters Mining and Minewell. However, the suggestion to name the company Phoenix was the one that stuck. The Middle English spelling of Fenix was selected because of its uniqueness.  

Q. How were important decisions made?

Board members of Fenix stayed in constant communication with shareholders and made several successful major decisions based on voting.

Q. How and where can I redeem my Bakewell shares?

Please PM FenixPR for instructions.

Please send your Bakewell shares using the Bitfunder transfer (https://bitfunder.com/transfer) to username fenix, and you will receive 4 Fenix shares in return.

The transfers are being done manually, so please be patient.

Q. Where can I buy shares?

https://bitfunder.com/asset/Fenix

Q. Who is managing the BitFunder asset?

Both the Fenix asset and hardware are managed by TradeFortress (https://bitcointalk.org/index.php?action=profile;u=67058) who is based in sunny Sydney, Australia.

Q. What is the vision for Fenix moving forward?

Fenix board members including nameface and wisard feel strongly that Fenix is a name that will last in Bitcoin mining. We collectively have many good relationships in the Bitcoin business community. The vision for Fenix is to become an elite Bitcoin mining company.


BTC Special Thanks to Everyone Who Helped make Fenix possible! BTC

https://lh6.googleusercontent.com/-YkWjvHtiAq0/UfmRhyOA_wI/AAAAAAAAGQw/s7a7VT0AnZo/w200-h240-no/hashing+from+the+ashes.png

Fenix. Hashing from the ashes of the infamous Bakewell scam.

A group of four ex-Bakewell shareholders banded together to recover the two Avalon ASIC mining units belonging to shareholders. The units are currently hashing at ~140 GH/s.

This same group has been unanimously voted in by the shareholders to become the advisory board for Fenix. The board's function is to suggest operating strategies for Fenix. Major decisions will be put to a shareholder vote.

The board of Fenix has the vision to become a major Bitcoin mining outfit, to manage the company in a completely ethical and transparent manner, and to do its best to expand the company for the benefit of shareholders.

All current and future Fenix equipment is the property of Fenix shareholders.

Links to the mining pool and addresses of the dividend and growth funds will be posted in this forum thread.


Description

This asset is being listed for the following purposes:

1. As a means of paying dividends from the proceeds of Bitcoin mining.
2. To allow shareholders a way to trade their shares.
3. To facilitate the purchase of additional mining equipment to expand Fenix.

Shares

This asset will begin with 24,000 issued shares.
Each existing Bakewell share can be exchanged for 4 Fenix shares.
Instructions on how to transfer shares have been sent to all known shareholders.
Any Bakewell shareholder who has not yet claimed ownership of shares is welcome to post in this forum thread, and we will contact you with instructions.

Dividend payments

Dividends are paid twice weekly and based on 70% of total mining proceeds from all equipment owned by Fenix minus expenses described below.
A monthly financial report will be posted in this thread.

Expenses

The following expenses will be deducted before dividends are paid:
1. Electricity costs
2. Incidental repairs and replacement costs
3. Any applicable taxes, customs duties or other fees. (Paid)
4. Any unforeseen expenses to maintain efficient operation

Expansion & Growth

30% of mining proceeds after the above expenses have been deducted will be retained for expansion, e.g. purchase of new equipment.
The board may attempt to maximise this growth fund by careful investment, subject to shareholder vote.

Hosting

The mining equipment is hosted for Fenix at a trusted non-US facility.

Voting

As Bitfunder has no voting mechanism, issues for voting will be announced in the forum thread, and voting will be by signed message.

Equipment Liquidation

When the board determines that mining equipment is no longer profitable to use, it will be sold. Sales proceeds will then go into the growth fund. If there is no longer any equipment in current use, the growth fund will be distributed as a final dividend, pending a shareholder vote.

This is a new account to act as PR for a new asset on Bitfunder- Fenix.

I would kindly ask the moderators to whitelist my account.