FAQ/reserved
1. What is the highest paying mining asset in the world?
BearMining. This is because every other mining asset charges fees. We do not charge fees. And if anyone dares to pay more than we do, we will reinvest some of our profits until we leverage higher than they do. No one should be able to compete with us on price because we have no employees and no expenses. Net income is passed directly to shareholders, and liability is passed directly to the hashrate providers.
2. What happens if someone actually does beat you? There are rumors of certain assets planning to pull 100% reinvestment weeks to compete.
Yes, well, we can do the same thing. The truth is, we have a lead on all other miners, and we aim to keep that lead. But it is also important to note that once we sell out 50-60% of the fund,
the market will then dictate the price of BearMining based on what it pays. If we pay more than another asset, it is only natural the price of bearmining escalates to match our payout per share in comparison with what the other asset is going for. This works in reverse too, other assets will fall in price because BearMining represents such a good deal.
3. Transparency please!
Our Asset ID is 16866116529232450550.
Our NXT account is NXT-UGHM-6URQ-ENTS-36ERN.
We use BTER for all currency conversions, however, we may be open to using an alternate exchange if there's a better one out there. Please make suggestions.
Our Litecoin address at LTCgear is
LUCtMLqFNpxRNSFrZgsNYCskAoF7S7rULQ LeFBCFrGRZAhbYz32VtJhMfn83B8RPHSpQ -- don't send to the old address!
Our Bitcoin addtess at LTCgear is
13RpW21RAQqJHbiwVAVz4F5AwUj4ubW4XL 1FSY17fTVgFSsdgv821wzgCtmNnHeWZqPL -- don't send to the old address!
*note, we changed our LTC and BTC payment address recently. We have sent Chris an update on this as well as changed our account information. Don't send to the old address or the coins will be lost forever.
4. Why don't you make more regular or frequent disclosures regarding dividends, your assets, etc?
You can check our assets and transaction history by checking the public record of the above accounts.
5. Why don't I see any payments yet?
We just started. Anyways, we have set our account to "convert to shares" during the launch phase, so we can benchmark our dividends and ensure we are the highest paying mining asset. Payments will be enabled at some point in the future.
6. Do you use any other hashrate provider, like cex.io?
We may, if they have a good deal. In such a case, payment addresses will be disclosed.
In the particular case of cex.io, while we absolutely love their UI, sha-256 is a losing game right now, and we do not invest with them.
7. What happens if your account gets hacked, or LTCgear blows up, or whatever?
You lose all your money and I don't owe you anything. I am as liable for BearMining as I am for the assassination of Julius Caesar. The point of this is to provide a direct line to the hashrate providers, in NXT, on the NXT AE. I am not getting paid for this. I have no interest in LTCgear.com or any other hosted mining provider. This is just a free service, take it or leave it, no warranty express or implied, not fit for any particular purpose.
MAY CONTAIN NUTS.8. What assurances can you provide? What due diligence have you done?
We use 2fa and encrypted accounts everywhere. Our passwords consist of five or more random words and/or at least 21 random characters including symbols, numbers, uppercase and lowercase letters. We use Norton Internet Security. We never use pirated software or download radom shit from the internet. We don't use facebook, twitter, ICQ, babyhome, line, or whatever it is people get herded into using these days. We do not use exchanges which have been shown to release user's personal information or which have been rumored to participate in any unlicensed or illegal activity, in order to avoid a mtgox-style loss of funds or exchange shutdown. We do not invest with anyone other than LTCGear.com or insured assets so as to limit counterparty risk.
9. Why are there 100 shares of STSH, and/or small amounts of other shares, in the BearMining account?
We seeded the fund with a couple thousand in NXT and assets to cover ongoing transfer fees.
From time to time we may also invest in assets provided they are expected to provide a greater return than investing into a hashrate provider. This will help us return as much money to shareholders as possible. This may include strategic investments in funds which are well-managed and which have good reinvestment or insurance programs and will flower over time.
10. This HAS to be a scam. No one would work so hard without being paid.
Ahh, but I am being paid -- from running SafeHash and DailyTrade. Both of these assets get a better return on their mining investments by investing exclusively into BearMining. So while I don't make money on BearMining directly, the existance of BearMining makes SafeHash and DailyTrade much more attractive investments than if I had to invest in something else. And lets be honest, bearmining is worth way more than it is being sold for right now based on market prices. When we sell out, and we will, the price will jump and if you don't own shares you will have missed the boat. There will not be a second boat.
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Topic: [ANN] BearMining (Read 38965 times)