VentMine



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Re: [ANN][ICO][GND] GNDcoin ICO now live ! only 0.07USD a coin! October 02, 2017, 01:34:43 AM #8 You are offering tokens @ $0.07 USD, which represent 1 kWh. Previously, you were selling hosting services for around $65 ish / kw-month (about $0.09 / kWh) and people had to supply their own miners. So seems like a good discount, am I right that token holders still need to supply miners? If so, this really isn't a great discount considering the money you will be raising upfront.



But At least we all know for sure your tokens will actually be redeemable for immediate benefit, unlike 99% of other services.



As for the equity part of all of this, you are putting a valuation on GreatNorthData of about $55,000,000. Are you f****** kidding me? What are your financials? How much debt do you currently hold and what is the status of your lawsuit with Bitmain? What is your expected payout period of present mines? How does that payout period change if we turn into a bear market and mining revenue drops to $0.20/kWh? How are you going to pay dividends to token holders? Are the tokens registered securities? They surely will have to be if they represent equity, else there is regulatory risk. How long are you locked in the energy contract, what is the forecast for renewed pricing?



Any reasonably educated investor would need to know these things.



I'm also wary of they fact you've made a shell company to remove liability from the real assets. I dunno... Also, why did you do this on Ethereum? Ethereum is not even proof-of-work friendly. I'm sure you could have done it on XRP, they can even do dividends.