Don’t do that!! It is concerning that someone supposed to understand crypto-currencies a little bit, would even suggest such a thing.
Yeah, @zcash1 is right. It’s best practice to ask the users for a refund address.
People sending from a web wallet might not get their refund if you just bounce it back to the sending address.
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Yes of course, just a threat 
Please do not send any more BTC. We can only handle what we got.
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@jonas
zeroponds lawyers recommended that only “accredited investors” (see wikipedia entry for this) in the US be accepted, in order that Tim and his partner not run afoul of US security laws, given that this is a high risk proposition. That is my guess.
AFAIK, no, Genesis Mining is based in Hong Kong. We’ll do our best to make the next round available to everyone.
Can a contract stipulate that you sell hardware to a customer and then promise to buy it back in three months?
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Yes, that is one of the structures we’ll look at for round 2.
Be careful how you structure it. I remember a company called Areo who tried to “rent” antennas across the internet for TV and they got shut down.
I know cloud computing is not really the same as TV but I would hate to see you guys get stuck on a technicality.
Speaking of which, why doesn’t Amazon AWS get in trouble for mining? Is it because yours is a managed solution vs a hardware rental?
I am not a lawyer, but my understanding is yes, when we also manage the software it looks a whole lot like a managed fund. If we just rent hardware and make you set up the mining, that’s different.
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Tim,
Can we expect the next opportunity to invest before or after the launch the 28th of October?
Like someone else mentioned, please consider having a maximum investment cap per individual so small-medium sized investors have a chance as well.
Thanks.
Hong Kong? but you were taking photos at your local data center, was that in HK?
The Zeropond data enter is in California, there is also a company called Genesis Mining who does cloud mining contracts based in HK.
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BS. If you can’t read and send Bitcoin to someone that doesn’t want it you can’t dictate how they return it.
They got shut down for violating about 10 different FCC regulations and trademark laws. Not investment legalities. Legally Zeropond can sell and manage rigs perfectly fine. The ‘product’ of those rigs is irrelevant. I have plenty of experience in these matters.
That’s hilarious. I thought TV radio waves were declared “free birds” back in the days of Ted Turner which is what made cable TV possible. I don’t see how renting antenna’s over the internet is different from cable TV fees for channels that do not receive anything from the cable TV companies. If they send it out to the world for free, then free it is. Except for recording, I suppose.
How about learning a little bit about how bitcoin works before posting nonsense.
The datacenter is Hurricane Electric in Fremont, California. It’s not cheap, but we will get hands-on experience before scaling out in a location like @jtoomim’s which is much more efficient.
How about realizing that returning funds to sending address has been the standard for refunding bitcoin transactions since 2011, and that if you send Bitcoin somewhere without explicit invitation to do so, the receiver has zero responsibility for that transaction.
Zeropond has stated about 10 times and it’s obvious on their website that they do NOT accept unsolicited transactions. If you disregard that and send anyway, that’s not their problem and even refunding it at all is a courtesy.
The fact that people complain about having coin returned to the sending address is that they are too dumb to realize that they shouldn’t send BTC from an exchange or service where they don’t own the Private key. And that, is a lesson they should learn.[Especially if they are moving funds in an environment that requires a lot of crypto knowledge in general]
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Revelation to you: there are many dumb people in this world. And anyone dealing with public should account for that fact.
I can connect you guys to a trusted company with 360+ GPUs (Nvidia) if your interested. They are based in the EU.