Quote from: LarryFossil on December 01, 2013, 09:47:41 AM

Quote from: chr0npiles on December 01, 2013, 09:40:44 AM

Very interested in this, but not exactly sure I understand fully. Is there an option to either donate .5BTC to help with the startup costs or donate your mining rigs abilities instead? I don't have any mining rigs or anything like that, but would be very interested in contributing the .5BTC to this fund.

I'll have quite a bit of disposable income on December 15. Would it be possible to reserve a spot until then?

Yes, the only option available is to donate .5btc to the address noted & I will put it into reserve until I receive the full amount to purchase / reserve the rig. After I receive and setup the device, each member of the group will be earning their profits as mentioned above [calculated on the cost of MTGOX / BITSTAMP market at the time I receive the rig) If the market fluctuates our profits fluctuates. Simple as that.

To answer your second question: This group buy based off of first come first serve basis. Seems like the only fair thing to do.

Ok cool,that all sounds fair, but to clarify, you have not yet purchased/reserved any of the mining equipment?. That is contingent upon you receiving the donations? Furthermore, what guarantee would we have of receiving the equipment by March or April? Will mining still be profitible then? Do your calculations take into account the cost of powering the rigs and such?

I'm a well educated young man, but the liberal arts degree didn't really focus too much on technology and all that jazz. I'm an economist by trade, so the whole bitcoin phenomena is incredibly fascinating to me, but some of the technical aspects are lost on me unfortunately. Should the price of BTC remain constant, those figures that you quote in your original message would be guaranteed on a daily basis? What about the issue of mining getting exponentially harder and all that jazz?

chr0npiles

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