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[dolux]

I've now talked to Chris twice, every indication I have recieved is that he is not out to burn anyone, but he is just buried under an avalanch of problems that started with people managing to attack his site with CSRF attacks.
And unfortunately he's still running a one man show, but he almost has things sorted.

Hey pf. Im glad Cris will pay soon and that. But still i would like to get our 3 missing payments of HRNXTpool already, if your delays with daemon, fork etc have finished. Just lets get this asset on track finally, so you can concentrate on the ltcgear issue; I'm sure that everyone here in this thread wants their payments from this thread asset made. We know there are some remmnants from the LTCGear portion, but the main payments should be done already. So please process it all away, ty!

[Schaschlik]

Deleted

[dolux]

The first Community owned Mining Pool.

Hashrate.org is pleased to announce that it has issued shares on the AE, under the ticker name HRNXTPool (ASSET ID:  17166680677145186899).  These shares will be put up for sale for the public starting (at the latest) Aug 1st.  This will make it the first community owned Multipool, where anyone can buy some shares and profitwithout ever having to own a piece of mining hardware or ever having to operate a miner.


These shares will entitle the owner of the share to dividends made up of two things:
   a) The pool will be implementing a 2% fee as of Aug 1st.  Each share will entitle the shareholder to 0.001% of half of that fee.  The other 1% will be used to pay for pool operational costs.  As of Aug 1st all miners mining on Hashrate.org will be charged the 2% fee.

   b) an equal share of the profits of 'community owned pool' (COP) hardware.

Share Distribution
   The proceeds of the Community-Owned Pool (COP) IPO are being invested in mining hardware that will be pointed at the pool.  A private invester, jl777 has arranged to purchase 60% of the shares of the IPO initially. The pool operator (pf) has also purchasing 5% of the shares of the IPO. 2% of the shares are being given to the NXT Marketing Committee.  1% of the shares are also being given to a community member, RLH, on behalf of the pool operator.
   There are 100,000 total shares, of which 60000 belong to jl777, 5000 to pf, 1000 to RLH, and 2000 to the NXT Marketing Committee. The remaining 32000 shares will be issued on the AE starting Aug 1st on a weekly basis (one quarter per week).


Private Mining Pool
   The proceeds from the IPO are being used to set up the COP.  This will to help boost the pool's hashrate and help increase the amount of BTC that is mined from other altcoins and injected into the NXT ecosystem on a daily basis.  This pool is housed in a private colo cage in an established data centre and will consist exclusively of ASIC mining hardware that is the most power efficient (on a W/GH metric) on the market. This will help ensure that the hardware can run for the longest possible time at a profit.  No hardware will be ordered at any time that is a pre-order.  The pool is already in the process of being built and should begin to come online well ahead of Aug 1st.  The plan is also to move the pool directly into the same colo cage, giving it effectively LAN access speeds to the stratum server.
   The profits from the COP will initally be split 60% dividend /40% reinvestment (after the operational expenses for the colo facility have been deducted) between paying out a daily dividend and a wallet account reserved for buying additional mining hardware.  This will allow the pool to add an additional nearly 2 TH of miners every week, compounding.  The COP will be used to mine on the Hashrate pool, and if the COP hashrate exceeds all of the available SHA coins they will be partially used to mine BTC via P2Pool and merge mine all of the available BTC-related SHA coins (such as NMC, DVC, IXC, etc). The right to modify this payout ratio from 60/40 is reserved solely for James (jl777), as the majority shareholder.   He may choose at any time to increase the payout percentage, but it will not go below 50%.
   Any unsold IPO shares are considered not payable in terms of the dividend.  Any proceeds that the pool generates fprior to Aug 1st will be split equally into 68000 parts.

Expected Pool Size
   The pool should be in excess of 30TH through the money generated from the IPO.  Re-investing 40% of it's own profits will allow the pool to grow at an extremely quick rate.  The pool is housed in a tier 1 data centre facility more than capable of handling any amount of growth.

   
Profitability
   Mathematical guarantees are difficult and inaccurate at best. This is not to be considered investment advice. This is not to be considered a traditional investment, but fractional ownership of the assets in question.  Most calculations that we have put together equate into the pool being capable of mining just over 7 BTC/week once the remaining 32000 shares have been sold on the AE. 40% reinvestment in additional hardware has 5 42U racks being filled entirely prior to the end of Q3, 2014.  The hardware will be used to pay out for as long as SHA cryptocurrencies can be mined profitably using latest-generation ASIC hardware, and as hardware becomes no longer profitable it will be retired from use.




A big thank you goes out to jl777/James, for helping provide me with the means, motive and opportunity  (not to mention good advice and inspiration) to make this happen for our community. THANK YOU JAMES!!

Hi PF.

When can we expect a pool expansion to 30 TH. I can currently see only 4.54 TH. What happened to the reinvestment over the months? Or am I just too stupid to understand this? I want to cross the bust with LTCGEAR am not even entertain!

Yes and has PF done one of his usual disappearing acts, as he is a long time answering these growing concerns.

[Schaschlik]

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[Schaschlik]

Deleted

[ASNXT]

Have a buy order at 20.1, 1000 shares. Who is on Ponzi Scam or think yours!

[dolux]

Concerning LTCgear people might want to take a look at this.

https://www.cryptocoinsnews.com/bitcoin-scam-alert-chabat-mining-cloudmining-service-unexpectedly-goes-dark/

[dhj1965]

When can we expect a pool expansion to 30 TH. I can currently see only 4.54 TH. What happened to the reinvestment over the months? Or am I just too stupid to understand this? I want to cross the bust with LTCGEAR am not even entertain!

Just read the 33 pages of this topic. Instead of reinvesting into hardware miners - as decribed in his introduction of asset - he has spent the coins to buy shares of the LTCGear desaster.

Instead of answering questions or just paying at least the dividends without the ltcgear part, he makes - like dolux said - a "disapperaing act". 3 weeks of dividends are missing now.

But he had still enough time to produce "bad mood" for other assets... (see actual asset discussions in this forum).

dhj.

[whatnxt]

When can we expect a pool expansion to 30 TH. I can currently see only 4.54 TH. What happened to the reinvestment over the months? Or am I just too stupid to understand this? I want to cross the bust with LTCGEAR am not even entertain!

Just read the 33 pages of this topic. Instead of reinvesting into hardware miners - as decribed in his introduction of asset - he has spent the coins to buy shares of the LTCGear desaster.

:

So that is the consequence of a Ponzi. Bad assets look better than Good ones and so Good assets go bad to compete.

I can understand exactly why pf would have bought LTCgear instead of Hardware. I found these LTCgear assets hard to resist myself.
Pf's asset had to compete with them which would have made LTCgear doubly tempting.
Unfortunately you cannot compete with a Ponzi (if that is what it turns out to be). If not then it was a good move on pf's part 

[wiser]

I'm no expert, but I believe the recent crash in the price of Bitcoin may be affecting dividend payments for this asset.

[dhj1965]

I can understand exactly why pf would have bought LTCgear instead of Hardware. I found these LTCgear assets hard to resist myself.

And exactly here is the problem. The description of the asset says "hardware" - not cloudmining. He has issued HRLTCGEAR asset for that purpose.

I don't understand why he's doing something different as he told his inestors in OP

If someone trying to gain trust, than he needs you to trust his words.

dhj.

[whatnxt]

I can understand exactly why pf would have bought LTCgear instead of Hardware. I found these LTCgear assets hard to resist myself.

And exactly here is the problem. The description of the asset says "hardware" - not cloudmining. He has issued HRLTCGEAR asset for that purpose.

I don't understand why he's doing something different as he told his inestors in OP

If someone trying to gain trust, than he needs you to trust his words.

dhj.

I agree, however, I have not read through all the posts here to determine whether pf told us what he was doing or not. I knew Hashrate had some exposure due to the 10% that came from HRLTCGear. I also know that we were paying off a loan used to buy hardware and so no reinvestment occurred for a while. I am not sure if that loan was paid off or not.

[jl777]

I can understand exactly why pf would have bought LTCgear instead of Hardware. I found these LTCgear assets hard to resist myself.

And exactly here is the problem. The description of the asset says "hardware" - not cloudmining. He has issued HRLTCGEAR asset for that purpose.

I don't understand why he's doing something different as he told his inestors in OP

If someone trying to gain trust, than he needs you to trust his words.

dhj.

I agree, however, I have not read through all the posts here to determine whether pf told us what he was doing or not. I knew Hashrate had some exposure due to the 10% that came from HRLTCGear. I also know that we were paying off a loan used to buy hardware and so no reinvestment occurred for a while. I am not sure if that loan was paid off or not.

loan was paid back like clockwork and fully paid before schedule
I think this whole LTCgear thing has been quite stressful on pf, so rather than start throwing around unproven accusations as fact, let us wait for LTCgear to finally officially die or come back to life and we can assess the damage at that point

James

[Schaschlik]

I bought bananas and now own rotten apples. Without value !!! 

[TheCoinWizard]

I bought bananas and now own rotten apples. Without value !!! 

You only thought you bought bananas...

I do feel for you though,
my advice, hodl your NXT...

[rlh]

I'll say it again, for what it is worth-- when PF startrd this asset, he wanted to pay for a flight, room and board for me to fly up to Canada and verify that his operation was legit.  I had juat taken a new, fulltime job (which he wasn't aware of) and had that not been the case, I would have taken him up on the offer.

Anyway, I know I didn't get to go, so I never saw his facility.  Regardless, he was pretty excited and was wanting to fly me out that weekend.

I have full confidence that the hardware exists and, plus, profitability has tanked.  From what I've observed, I'd guess that PF might be hoarding a while hoping for a run-up of a particular coin.  I can't say that for sure but from time-to-time, I think he'a tried to be a smart trader.

[3rdStryker]

Stressful or not, pf and Chris should be held to the same standard as everyone else and people are right to vent grievances.

[dhj1965]

I have full confidence that the hardware exists

the pool stats showing ~4.5 TH for the pools NXT-Address. So there's hardware working. No matter if he uses a professional datacenter or if he operates the hardware under his bed.

But I don't see an increasing rate, 40% reinvestment should change it....

Maybe pf can tell us some details about hardware and purchases.

dhj.
 

[Schaschlik]

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[mnporter2001]

Out of interest I have recently pointed some of my own hardware at hashrate, are payouts automatic, or is PF still manually sending them out ?

If they are automated when do they send ?

Cheers
Mark