[rdyoung]

@lothendriel and I are proud to announce our PACMIC Group Share Fund.
For folks that can't or don't want to buy a full PACMIC, you can purchase as little as 1/20th of one.

What is PACMIC? Its an accelerated payout offer from hasnest/bitmain. It pays out 100% of the BTC mined and accumulates interest based on the time between blocks. You can find more detailed information here

PM1 is not a straight passthrough, to account for the finite payout schedule of the PACMICs we are reinvesting 25% of the earnings into cloud mining equal to or greater than the S5s. Currently we are investing in S5s on hashnest, but will be opening up a vote on where else to point the reinvestment funds.

Payouts? Payouts are processed on sundays.

Due to the nature of the PACMIC, we are not doing a crowdsale, you can purchase from our store here
We will replenish the stock to reflect new PACMICs.

Any questions, please feel free to PM either @lothendriel or myself, you can also email us @ coloredbtc@gmail.com you can also join us on slack by requesting an invite from here

[CjMapope]

i use the PACMiC's myself , and LOVE them. the way they work is just awesome imo. this is a great idea good job sir

[headrush]

Question here ..
If the PM1 has a finite lifespan, what happens to the mining payouts generated by the 25% reinvestments ?

[rdyoung]

It gets paid out to all pm1 holders. The reinvestment is too insure that payouts continue after the pacmics expire, it also allows to run 1 asset instead of 1 for each pacmic we want to fund.

[lothendriel]

If the PM1 has a finite lifespan, what happens to the mining payouts generated by the 25% reinvestments ?

We should refine the language a little because I can see where this would confuse some but it's just what @rdyoung said below:

It gets paid out to all pm1 holders. The reinvestment is too insure that payouts continue after the pacmics expire, it also allows to run 1 asset instead of 1 for each pacmic we want to fund.

Basically we're utilizing the PACMiC for the weekly payouts until the PACMiC ends and then the 25% reinvestment for the S5s go to continue the payout after the PACMiC reaches matuirty.

[headrush]

Thanks So the PM1 doesn't expire ?

[rdyoung]

Nope.

[lothendriel]

I think it's a fabulous way for small dogs (like myself) who don't have the whole 1 BTC to get a PACMiC still reap the benefits of having a PACMiC ... with a little help from some friends.

[headrush]

Thanks again
I only asked because your web site says they do.

At the end of the PACMIC contract PM1 shares will reach end of life as well.

[rdyoung]

We missed that part when changing the wording. It was from our first plan to have pm1, pm2, etc.

[CjMapope]

i agree. and to explain a bit for those who don't have a full PACMiC .
U can choose EACH block whether to invest back into hashpower (1TH/s produces roughly 50k shatosi each block OR .00004225 of a TH in power, directly added to the PACmiC power(instantly).
the funds become available immediatly each block transferred to your hashnest wallet.
the contract expires as they stated above, when the princial is paid back
prinicipal is also ADDED if u choose to "auto-buy" or re-invest into power. (roughly 515 shatoshi i believe per block)
EDIT: i only found the need to say these points cause i personally found the contract and FAQ on hashnest about EXACTLY how the PACMiC worked confusing

[lothendriel]

Thanks again I only asked because your web site says they do.

Fixing that now LOL

[CjMapope]

also to give others an idea heres a SS of my PACMiC purchased as u can see, 3 days ago.
keep in mind as the contract says, its very dependant on Antpools luck

[headrush]

Just got myself 3 testers

[rdyoung]

The interest it pays is also based on that. The interest is the 0.7 satoshis per second between blocks. The longer the block times for antpool, the more they owe for the pacmic.

[CjMapope]

ahh yes i forgot to mention that point ty

[rdyoung]

This is the first time I have been wanting long block times.

[CjMapope]

ya hey? i noticed those quick blocks it pays like 50 shatoshi profit so i def agree haha

[DogeCaptain]

Well only 4 left...

[CjMapope]

lol i went to go steal the last one it had in stock, was gone by time i hit "checkout" good job guys