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iHash :: 1st (BTC+LTC) Cloud Mining Asset, APR 124% 5th dividend 3/Oct/14  
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Author Topic: iHash :: 1st (BTC+LTC) Cloud Mining Asset, APR 124% 5th dividend 3/Oct/14  (Read 8246 times)

satoshi

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Asset ID: 9560963759586239947

Website: ihash.biz

Description:
iHash is a 0.2 GH/s (SHA-256) plus 10KHS (SCRYPT) Virtual Bitcoin Mining Bond valued at 10 NXT each.

Sep 26, 2014 iHash projected APR is more than 124%.

With iHash you can start generating income from BTC, LTC mining immediately. Weekly payout rate is pegged to BTC/LTC Mining difficulty so there are no downtimes, power failure or any other surprise expenses.

Dividends will be calculated every Friday 00:00 UTC and distributed at Friday 10:00 UTC.

Proof of solvency: We will accumulate 6 months future dividends on NXT AE

How many shares to be sold?
Up to 1,000,000.
Round 1: 100,000 assets representing
20 THS (SHA-256) Mining power
1 GHS (SCRYPT) Mining power

First batch of 25000 iHash (5THS+250MHS) assets SOLD OUT.
Second batch of 25000 iHash assets available for sale at 10 NXT each

What price will they be sold at?
10 NXT

iHash NAV (Net Asset Value) Price = 11.8 NXT

NXT account used to issue assets
NXT-6M8Q-4Z5D-FS7Y-ARTXZ

Asset ID
9560963759586239947

Ticker symbol
iHash



First dividend on September 5th, 2014:         0.177 BTC
Second dividend on September 12th, 2014:   0.177 BTC
Third dividend on September 19th, 2014:      0.1475 BTC
Third dividend on September 26th, 2014:      0.1475 BTC

For latex updates please check our website www.iHash.biz
« Last Edit: September 29, 2014, 04:47:38 am by satoshi »
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damon

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #1 on: September 03, 2014, 05:30:03 am »

Sounds great!
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bitdraw

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #2 on: September 03, 2014, 06:23:09 am »

RoI is around 59 weeks.

how does the pegging work and are you protected against diff increases?

greetings
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satoshi

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #3 on: September 03, 2014, 08:06:22 am »

Thanks Damon.

We are particularly emphasising on APR rather than ROI.

We will own the hashing power sold at any time, so no need for protection against difficult DECREASES.
Creating aware about the hashing backstage process is one of key components of iHash

Regarding how pegging works, we go in quite details on our website
you can check
http://ihash.biz/ghs-payout/
and this screen grab from iHash.biz


RoI is around 59 weeks.

how does the pegging work and are you protected against diff increases?

greetings
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Sebastien256

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #4 on: September 03, 2014, 09:06:00 am »

What is APR?
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bitdraw

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #5 on: September 03, 2014, 09:07:33 am »

What is APR?

from my understanding its the yearly interest you earn on your investment
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youyou

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #6 on: September 03, 2014, 09:49:01 am »

from my understanding, dividend will decrease (as asset value) if nxt increases vs btc?
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damon

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #7 on: September 03, 2014, 12:23:14 pm »

APR - Annual Percentage Rate
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jefdiesel

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #8 on: September 03, 2014, 01:02:06 pm »

It's right that mining assets should decrease in value as difficulty and costs accrue, but there is the expected offset of weekly dividends.

We think ROI as return on all costs. Basic calculations show a 60 week ROI, but this is not counting the shares held, even if they depreciate by half, that reduces the ROI by half since you still can sell the shares at the end and recoup capital.

100 shares x 10NXt = 1000 NXT investment.
16.7 weekly payout (after fees) is 60 weeks ROI on the purchase price.
 100 shares remain, at 10nxt each, then your 16.7 weekly is all profit. so ROI is 0 weeks
if the shares decrease by 50%, that is assuming they are worth 5nxt at X date, then your ROI is over the deprecated value only.
If these shares, like a new car, depreciated by 50% as soon as you buy them then it would take 30 weeks to reach ROI.

This is assuming no difficulty increases, nor price change in NXT, BTC, or the World, which of course are way to fit on the back of this envelope.
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satoshi

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #9 on: September 03, 2014, 01:40:19 pm »

+1

Thank you Jef, stepping in as a Hero member and explaining it very eloquently.

BTW APR= Annual Percentage Rate

There are subtle angles which will become clear overtime.
The relationship between BTC>>USD>>NXT>>GH/s will play nicely over the next coming weeks and months.
It is true that if the value of NXT increasing will decrease the APR but value of your investment will stay solid as BTC mining becomes more profitable.

And please consider the other scenario if NXT value declines the APR increases and every NXT invested in iHash will bring higher value.

We will try our best to keep iHash rate around 10 NXT, you will be seeing some bids from STSH fund soon.

One of the best feature we are offering is to be try some predictability for the future.
As we have seen with so many other mining related assets, management, maintenance extra overhead issues creep in when the boot hits the ground.

As we have already proven with STSH there are some smart investors who prefer reliability, professionalism and timely payments.

IMHO, having 6 months of your future dividends payment accumulated and available will make a considerable positive impact. We are tying to prove that although mining is a declining revenue operation there are ways to make it moderately profitable with professional management.

Thanks to all early investors, iHash train has started rolling slowly and steadily.
 
It's right that mining assets should decrease in value as difficulty and costs accrue, but there is the expected offset of weekly dividends.

We think ROI as return on all costs. Basic calculations show a 60 week ROI, but this is not counting the shares held, even if they depreciate by half, that reduces the ROI by half since you still can sell the shares at the end and recoup capital.

100 shares x 10NXt = 1000 NXT investment.
16.7 weekly payout (after fees) is 60 weeks ROI on the purchase price.
 100 shares remain, at 10nxt each, then your 16.7 weekly is all profit. so ROI is 0 weeks
if the shares decrease by 50%, that is assuming they are worth 5nxt at X date, then your ROI is over the deprecated value only.
If these shares, like a new car, depreciated by 50% as soon as you buy them then it would take 30 weeks to reach ROI.

This is assuming no difficulty increases, nor price change in NXT, BTC, or the World, which of course are way to fit on the back of this envelope.
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bitdraw

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #10 on: September 03, 2014, 02:10:00 pm »

i still dont fully get it...

do you pay 0.17 per asset fixed? only changed by nxt/btc ratio not regarding any change in bitcoin mining difficulty?
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jefdiesel

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #11 on: September 03, 2014, 03:02:44 pm »

Current expected payout is 0.17 per share. Of course luck,  and difficulty will effect this.
Disclaimer,  I bought 250 shares in iHash.
I also bought 100 shares in Stsh at release. Look where that got me.
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satoshi

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #12 on: September 03, 2014, 03:14:17 pm »

For this difficulty period we will be paying 0.17 NXT per iHash asset.

When the difficulty changes we calculate the new weekly hashing payout per GH/s and you will get paid 40% of that.

Please check
http://ihash.biz/ghs-payout/
for exact formula calculation method.




i still dont fully get it...

do you pay 0.17 per asset fixed? only changed by nxt/btc ratio not regarding any change in bitcoin mining difficulty?
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satoshi

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #13 on: September 03, 2014, 03:17:06 pm »

Thanks Jef.

I am afraid this one is not going to be a five bagger like STSH but still we will thrive on making your Fridays happy.  ;D



Current expected payout is 0.17 per share. Of course luck,  and difficulty will effect this.
Disclaimer,  I bought 250 shares in iHash.
I also bought 100 shares in Stsh at release. Look where that got me.
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jefdiesel

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #14 on: September 03, 2014, 03:34:46 pm »

Yeah I understand the fundamentals are going to keep this a little closer to the ground but I'm happy to throw some support.
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satoshi

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #15 on: September 04, 2014, 01:56:51 am »

+1 Thank You Jef, you are a true Hero.

Meanwhile in the NXT universe we have sold more than 20,000 iHash assets in less than 24 hours.
This proves the demand for professional hashing services.
NXT volume wise, what took STSH 10 weeks to achieve, iHash achieved in one day.
Thank you NXT and all NXTers.
The next 24 hours are going to be pretty hectic for us. We have to accumulate 4 Th/s, please don't mind us if you don't see us on the forum.
Currently acquired hashing power is 1 TH/s, once we reach 5TH/s we will update the thread.

Yeah I understand the fundamentals are going to keep this a little closer to the ground but I'm happy to throw some support.
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jefdiesel

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #16 on: September 04, 2014, 02:57:58 am »

+1 Thank You Jef, you are a true Hero.

Meanwhile in the NXT universe we have sold more than 20,000 iHash assets in less than 24 hours.
This proves the demand for professional hashing services.
NXT volume wise, what took STSH 10 weeks to achieve, iHash achieved in one day.
Thank you NXT and all NXTers.
The next 24 hours are going to be pretty hectic for us. We have to accumulate 4 Th/s, please don't mind us if you don't see us on the forum.
Currently acquired hashing power is 1 TH/s, once we reach 5TH/s we will update the thread.

Yeah I understand the fundamentals are going to keep this a little closer to the ground but I'm happy to throw some support.

Satoshi, thats a fantastic problem to have!

Congrats on 20k. Let's get the rest sold too!
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Irontiga

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #17 on: September 04, 2014, 04:37:15 am »

Is ihash.biz up? Not loading for me.
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satoshi

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #18 on: September 04, 2014, 10:33:41 am »

Can you please recheck, it is working fine from my side.
Is ihash.biz up? Not loading for me.
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satoshi

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Re: iHash Virtual Bitcoin Mining Bond current APR 92%
« Reply #19 on: September 04, 2014, 10:43:13 am »



Satoshi, thats a fantastic problem to have!

Congrats on 20k. Let's get the rest sold too!

You are absolutely right, it was one fine problem to tackle.

And I am glad to announce it has already been resolved.

iHash has acquired approximately 5.8 TH/s from one data center alone.



I must give a shout out to mgwbtc to help us convert NXT to BTC and move quickly across across wallets.
And also to Valarmg for the dividend + tool without which it would have been too cumbersome to calculate and send out dividends,

GoNXT
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