Topic: . (Read 1516 times)

Why would someone prefer you over PB, then? At PB, they get Bitcoins back every Sunday I think. And how can you send back a investment if they're paying for the rigs you're making? Do you even know how to make a rig? So you don't have a plan...

I recommend altcoin mining or cloud mining. Bitcoin mining in your case won't be profitable, as you have:
-small budget
-no suitable location
-no previous experience in hosting

His plan is simple: he is hopping that him, his two broders and a friend find some more brothers and some more friends.

Agreed. This is nuts.

So, how will you convince investors? I really think you're super optimistic in this scenario. You make about 3BTC (at best) per year, but on year 2, at .1% mining profitability loss, you start losing BTC.

And people will invest in this why? Apparently you want to hold until BTC increases in value, so you can pay off your equipment. When will the investors get their part of it? You're holding about 4BTC(At $598) in wait to have it go up?

Do you know how long it takes for something to change dramatically? The rise to $1200 was because of bots with millions of dollars behind them.

Due to it being about $2400 per Terrahash, and you wanna get 7-15 (7 for this calculation), you will need $16,800. If each investor gives you $300, you need 56 investors to get all the funds. Each investor will expect a large part of the coins mined, and you will HAVE to take off large fees to make enough to pay it off within 5 YEARS. People don't invest to carry you and have them pay for your stuff. They want their money. You taking all the mined coins and holding till they increase will make people unhappy very quickly, regardless how much you say it will go up in value.

It's also about 8 investors to a single miner. 1 BTC every third of a year means 0.125BTC per investor every 4 months. If you take the 0.005 off as fees, you get 0.04 BTC every 4 months, or the equivalent of $22.80 USD. This turns into $68.40/year in fees you can maybe take.

So what IS your plan?

Oh my fault ACS I should have read the thread much more better, Can I talk with you privatley you seem to know alot more then I do and can use advise. 

You're kidding me. Whatever, all of the red flags and errors aside. Not even going to comment on that. What's your business plan?

Wait wait wait
So you're buying a 1TH/s miner at $2,000 American.

Profitability calculator says you can pay it off (Maybe), with $0 spent anywhere on electricity, you can pay it off in about two and a half years.

At 0.06/kWh, it'll take over a year to get an ROI. And then your profitability starts decreasing.

So are you really pushing for this still?

I really hope you're joking, because I swear, this is going to be the last time I get up:

You literally said in the first post/topic:


So instead of building a rig, my God, you're going to do what anybody could do: Buy a ASIC and slap it together. Somebody would be far better off just buying a rig, but heavens god, if CEX.IO could fool people, you can too.

Zolace, Zolace, Zolace. I don't know exactly why I defend my opinions like dying babies, or if it's worse I rolled out of bed to answer this, or actually felt the need to.


I'm just going to imagine you found those specs somewhere hidden on this mystical page.

"25 GH/s in nominal and up to 40 GH/s" 40 X 25 = 1,000 GH/s. That's all fine and dandy. But guess what? That's one TH/s. 40 x 40 = 1,600.

Anyway:

Ops. Can't get a good approximation, since the only info we got was that they live in Sweden. Google'd it, and going to pass this off as Google being a jackass, and not wanting to work. Or me just being a idiot. People having forty of those badasses reported 860-900 watts, if I'm correct. Dumped this into Coinwarz, along with other stuff. Said about $559.34 USD. I don't even think that's possible, but, I did get it off of Google so don't hold me to it.

But oh no, please read that header. "Coincraft A1 28nm ASIC"

You're trying to say a ASIC chip is more powerful than another ASIC chip? Okay, yes, fine. That is. However, that's irrelevant to what they're going to use. I was clearly not bringing up a Chip, but woop-de-doo. A GPU. Which heavily points to what they're going to use, because, jeez, they want to build a rig but don't know how to buy/what to use.

ok I have a question for you , you a miner right?   

so you saying the brand name Asic which gets there chips from china will over power this rig?

Here are the specs

Chip
   

40pcs of Coincraft A1 28nm chip

Nope. That's most likely a ASIC. That's like comparing a USB erupter to a rig. A GPU still might get 4 TH/s, but it's not as powerful as a ASIC, still. And the risk is lower with a ASIC, since you can achieve roughly 4 TH/s faster than with a GPU. They're also a lesser cost, then having to build a rig with twenty GPUs.

And even if they buy that many GPUs, they would still need to break the money up amongst the investors. But the power cost would be tremendous, almost ridiculous on the makers of it.

ACS with 4 terrahertz you can mine bitcoins and make back money in 70 days no???   I get miners for 1500 and can make money back in 60 days.  the whole point of selling miners is for them to profit on at least two months of mining.

I don't think you realize what a investment is. And, most people invest to get money back fast. Not for someone to throw together 20 GPUs that could only earn them a few cents a day.

You're sort of clueless, you and your mystical investors, and your friends.

Then I'm out, there's no money to be made in BTC mining. If there was scrypt or x11 coin mining, I'd consider it, but there are already many other companies that can sell down to the micro-hash.

I'll consider buying a hash or two once the site is up, but I am not particularly interested in mining Bitcoin with a large investment behind it.

But Bitcoin mining isn't profitable anymore, even if you buy the hashes from somewhere else.

If you sell a GH/s for less than 0.006 BTC, I'll buy a smidgen of one, see if it works, and if so, I'll buy more.

But I can't invest into something like this, not because of personal interests, but also because my country has paperwork that has to be filed when investing in stuff. I'm not sure if it applies to Bitcoin, but I ain't going to jail for something as minor as that.

So you don't know what you're going to mine, where to buy the equipment, or even what equipment? (See other thread you ((Or your assistant)) created asking "Building 15((?))TH/s mining rig : ) what should I buy?")
Why would the investors put in money that they have no idea they're ever going to get back?

Most people in the Bitcoin community expect better than this. They are very particular about what they invest in.

Who are these mystical investors, that have no idea what they're investing in? I hate to question the intelligence of another human being, but what the fuck dude? They want to spend more money and get less money. But then again, they're MYSTICAL.

I don't think you know much about mining, then. If you think you could earn a lot from Bitcoin mining now, you're mistaken. Designing a Alt-Coin rig is a lesser cost, and you get more for a profit in a shorter time-span.

Thanks for giving me a reason for wanting to work with you, Ranger.

And not to mention, shouldn't you let the Investors decide instead, since they're buying it? But then again, you have that 1337 mining logic, sooooo...

But won't this effect the hardware that is purchased? I think it has to be decided before anything is purchased.

Even if you MAYBE have good intentions with this only stupid users would trust newbie like you.

Ok, everything was answered well...

One more question: Will you mine only Bitcoin or will you mine other alts that may have a higher profitability rate than bitcoin?