In order to give best rewards to our supporters we have decided to place orders of mining machines in lots.
We have some good news that we have negotiated with a vendor to agree to accept the Ether in lieu of FIAT for the hardware we need to buy.
There is a heavy shortage of GPU cards and prices have risen since we wrote our white paper with expectation of further increase in prices in the near future. There is also significant lead time to get GPU cards. Time is further needed by the vendors to indent chipset manufacture GPU cards, ship the goods, getting customs cleared and to then get the rigs assembled.
Concurrently we feel that the price of ether has increased and it is a good time to lock in prices.
In order to lock price of GPU and Ethereum and place a final order, we need to pay deposit to vendor and allow them time to liquidate the Ethereum. We are therefore placing order with vendors in phased manner and we will be withdrawing Ethereum accordingly for placing deposit or making payment for purchasing mining rigs.
Vendor has also agreed to lock in rate for quantity given as indicated on a major exchange reference price.
As the vendor will be new to this process, so as to cooperate them in selling the ether, any potential token holder’s who wish to buy ethereum will also be referred to them.
This will allow a new step forward in making crypto-currencies go main stream.
Due to this one can see that we are able to save many conversion costs like changing the ether to bitcoin and then to USD and then wiring it to vendor. Also to sell quantity on a fix price is bit tough for crypto currencies as they vary a lot within few minutes. All such conversion costs are now mitigated by the vendors by accepting ether directly.
This notice is put for transparency and reference of token holders only.