Crypto Commodities

XELASIC trading symbol is an experiment in using Counterparty to:

Develop an X11 Asic for Urocoin
provide transparency to buyers
promote open-source hardware

1 unit of XELASIC will be redeemable as a credit toward purchase of an X11 asic or FPGA miner, with the price to be determined by the market price of 1 ton of Urea and/or Uro coin at a date when the developers (7 Elements LLC) feel that it is a releasable product.

What else do I get for buying this

You also get information on what the expected performance of an X11 asic/fpga will be, and where we are in the engineering process. In a traditional corporate environment, this kind of information is 'sensitive business information', and often considered the crown jewels of the company. How much do you think the engineering information on the next Apple product is worth to the press and market speculators?

Since this is going to be *open-source hardware*, you will ALSO get access to the source code repositories for software,firmware, and hardware design files that are releasable under the AGPLv3 after the product ships. Buying all the XELASIC shares might be a good investment for a silicon fab, or someone who happens to know someone with a fab (are you listening China?)

DISCLAIMER: This is not a currency, security, or any other sort of money transmission instrument or regulated commodities trade. If you buy XELASIC, you are buying a pre-order coupon(s) exchangeable for a product specification to be determined at a later date. The transaction is only considered final once the US dollars for selling bitcoin actually end up in a 7 elements LLC bank account. If you transfer ownership of your coupon to someone else, I will need to know BOTH of your shipping addresses for the exchange offer to be valid. 7 Elements LLC will not be responsible for lost or stolen passphrases, bitcoin wallets, counterparty tokens, or any other technical problems. Any disputes will be settled via mediation in Minneapolis, MN, or Manly, Iowa. Shipping, local taxes, and export fees are the responsibility of the buyer.

This is a best effort *experiment*. Expect that *something* will go wrong, and I will make my best effort to fix what I can.

Risks and Challenges

Regulatory risk: all the money gets wasted in legal fees
Schedule slip risk: By the time this actually is a releasable product, it's no longer economical
Design risk: the hardware design might not work, and have to be re-done (or, see 'schedule slip'))
Algorithm change risk: The Uro foundation might decide to change the algorithm, or switch to proof-of-stake, rendering the connection to Urea/Urocoin worthless
3rdparty risk: Any number of suppliers or 3rd parties this project depends on may fail to deliver, go bankrupt, or otherwise be douchebags

If you want this asset listed for sale, comment at
https://bitcointalk.org/index.php?topic=684147

This no BS cross-platform bare html get to the point content made with VI

What else do I get for buying this

Risks and Challenges

If you want this asset listed for sale, comment at