Topic: Affordable Cloud Mining with Free Bitcoin Nodes! Vault of Satoshi (Read 2120 times)
I don't really trust cloud mining.They are mostly Ponzi scams.
Plus our hash rates are just as competitive as anyone else, if not better.
I am afraid that the hashrate on PBmining is much cheaper than yours, though some believe it is just a ponzi scam...
It's cheaper but you are locked into a 5 year contract, in that time miners will be very different machines. Plus the price they charge for a 5 year operation on 2TH/s set up would not even cover cost of electricity.
Based on the current cost of power in Saskatchewan Canada (where they state they are based from) a highly efficient unit like the Antminer S2 runs at about 1,100 watts *2 to get up to the 2TH/s and this would work out to $10,560 in power costs over five years. You can look up this using the Saskatchewan power authorities pricing model:
http://www.saskpower.com/calculator/residential
We're competitive with or better than any main stream and reliable service. From a name users known and trust.
That's assuming that the price of Bitcoin isn't going to rise. People often forget to take that into account when calculating profit, if you are going to buy Bitcoin and wait for the price to rise you'd be better mining.
With C$ 900 (US$ 825), I could have bought 1.875 btc now (bitcoin price is $440 at this moment on bitstamp).
With C$ 900, I could have bought a 150GH/s contract from you, and it will generate ~1.15btc in a year (with no fees and 10% difficulty increments everytime) or ~1.78btc (5% difficulty increments).
No matter bitcoin price will be $100 or $100000, it is still better to buy bitcoin directly.
That's irrational logic; because the price of Bitcoin changes, where as the fee we charge does not. If Bitcoin rises even a fraction in price then you are better getting a mining unit.
Even at the $500 mark for Bitcoin you'd make more Bitcoin with the $900 in mining contracts, and still have the upside potential to make more on the returns.
I can't really follow your argument here.
How did you get the conclusion "If Bitcoin rises even a fraction in price then you are better getting a mining unit"?
Plus our hash rates are just as competitive as anyone else, if not better.
I am afraid that the hashrate on PBmining is much cheaper than yours, though some believe it is just a ponzi scam...
That's assuming that the price of Bitcoin isn't going to rise. People often forget to take that into account when calculating profit, if you are going to buy Bitcoin and wait for the price to rise you'd be better mining.
With C$ 900 (US$ 825), I could have bought 1.875 btc now (bitcoin price is $440 at this moment on bitstamp).
With C$ 900, I could have bought a 150GH/s contract from you, and it will generate ~1.15btc in a year (with no fees and 10% difficulty increments everytime) or ~1.78btc (5% difficulty increments).
No matter bitcoin price will be $100 or $100000, it is still better to buy bitcoin directly.
That's irrational logic; because the price of Bitcoin changes, where as the fee we charge does not. If Bitcoin rises even a fraction in price then you are better getting a mining unit.
Even at the $500 mark for Bitcoin you'd make more Bitcoin with the $900 in mining contracts, and still have the upside potential to make more on the returns.
Are there going to be occasions where during a dip buying the bitcoin would be better? Sure, that will always happen in Bitcoin. But more often than not it's worthwhile to get the miners - plus we're throwing this all back into supporting the network with Bitcoin nodes!
That's assuming that the price of Bitcoin isn't going to rise. People often forget to take that into account when calculating profit, if you are going to buy Bitcoin and wait for the price to rise you'd be better mining.
With C$ 900 (US$ 825), I could have bought 1.875 btc now (bitcoin price is $440 at this moment on bitstamp).
With C$ 900, I could have bought a 150GH/s contract from you, and it will generate ~1.15btc in a year (with no fees and 10% difficulty increments everytime) or ~1.78btc (5% difficulty increments).
No matter bitcoin price will be $100 or $100000, it is still better to buy bitcoin directly.
Current price of 10 GH/s on cex.io is only worth 0.07 BTC or about $30 USD... Your prices are more than double, plus cex.io allows you to sell those GH/s in the market whenever you want.
Cex.io also charges trading fees, and maintenance fees per GH/s (https://cex.io/maintenance). We do not.
Also our prices are in the Canadian dollar and there's are in the US dollar.
Cex.io maintenance fees on 10GH/s work out to $31.20 a year. + the $30 to buy means that 10 GH/s at Cex.io costs $61.20 USD. When you convert that to Canadian dollars with fees it works out to around $70.
So in actuality we are the same price on our small plans and our 100GH/s and 150GH/s plans are cheaper than theirs. We just bill all at once in upfront pricing, and provide nodes to help the network.
True, but your hashrate is still very expensive and buyers have no chance to get profit at all, even if difficulty is going up at a very slow rate.
That's assuming that the price of Bitcoin isn't going to rise. People often forget to take that into account when calculating profit, if you are going to buy Bitcoin and wait for the price to rise you'd be better mining. Plus our hash rates are just as competitive as anyone else, if not better.
Current price of 10 GH/s on cex.io is only worth 0.07 BTC or about $30 USD... Your prices are more than double, plus cex.io allows you to sell those GH/s in the market whenever you want.
Cex.io also charges trading fees, and maintenance fees per GH/s (https://cex.io/maintenance). We do not.
Also our prices are in the Canadian dollar and there's are in the US dollar.
Cex.io maintenance fees on 10GH/s work out to $31.20 a year. + the $30 to buy means that 10 GH/s at Cex.io costs $61.20 USD. When you convert that to Canadian dollars with fees it works out to around $70.
So in actuality we are the same price on our small plans and our 100GH/s and 150GH/s plans are cheaper than theirs. We just bill all at once in upfront pricing, and provide nodes to help the network.
True, but your hashrate is still very expensive and buyers have no chance to get profit at all, even if difficulty is going up at a very slow rate.
Adding nodes & speeding up the network is a cool idea.
Current price of 10 GH/s on cex.io is only worth 0.07 BTC or about $30 USD... Your prices are more than double, plus cex.io allows you to sell those GH/s in the market whenever you want.
Cex.io also charges trading fees, and maintenance fees per GH/s (https://cex.io/maintenance). We do not.
Also our prices are in the Canadian dollar and there's are in the US dollar.
Cex.io maintenance fees on 10GH/s work out to $31.20 a year. + the $30 to buy means that 10 GH/s at Cex.io costs $61.20 USD. When you convert that to Canadian dollars with fees it works out to around $70.
So in actuality we are the same price on our small plans and our 100GH/s and 150GH/s plans are cheaper than theirs. We just bill all at once in upfront pricing, and provide nodes to help the network.
Looks interesting.
Re: cex.io The charges make it look difficult to get a return from the mining? Or is this wrong?
Re: cex.io The charges make it look difficult to get a return from the mining? Or is this wrong?
Current price of 10 GH/s on cex.io is only worth 0.07 BTC or about $30 USD... Your prices are more than double, plus cex.io allows you to sell those GH/s in the market whenever you want.
Are you tired of unreliable cloud hosting? Pulling your hair out setting up bothersome mining units? Stress no more! Vault of Satoshi is proud to announce it's latest beta program, Managed Mining Contracts!
Known for our reliability and security Vault of Satoshi's managed mining contracts take all the headaches out of mining. Using high-end, hosted ASIC machines we allow you to start mining with ease. Simply receive weekly payouts to your Vault of Satoshi account, or any BTC Wallet (additional network fees apply) with no need to worry about server racks, cooling, power supplies, downtime, power or other logistics.
Our contracts are one-year contracts and available to anyone world wide.
Introductory Pricing in Canadian Dollars
10Gh/s = $70/year
50Gh/s = $325/year
100Gh/s = $600/year
150Gh/s = $900/year (Only $6 per Gh/s) + 1 year hosting a Full Bitcoin Node
*Orders above $10,000/year can inquire for additional discounts
*Prices are subject to change without notice. You may lock your pricing in for multiple years upfront.
*For every 10 plans sold excluding our 150Gh/s plans we will also host a Full Bitcoin Node
Payment can be done via:
-Bitcoin
-Credit Card
-Paypal
-Online Interac (Canadians Only)
-Wire Transfer (Canadian Only)
-Vault of Satoshi Account Balances
-Litecoin
-Dogecoin
How Do I Sign Up
During our beta all signups will be handled manually and you can email [email protected] for more information
How will Payments Be Made
Payments will be made each week to a Bitcoin Wallet of your choice.
**Is this open to US customers?**
Absolutely!
What are Full Bitcoin Nodes
The Bitcoin Network operates on a Peer-to-Peer structure where each "nodes" (or full clients) have downloaded an entire copy of the Blockchain and help to broadcast and validate transactions and blocks to the network
To ensure the long term health and stability of the network it is important to have a large number of nodes that are diversified by region. The emergence of online wallets and large size of the blockchain has hindered the number of users operating full wallets.
In doing our part we at Vault of Satoshi will be adding full Bitcoin nodes for every 150GH/s plan we sell as well as a full Bitcoin node for every other 10 plans we sell.
Where will the nodes be hosted?
For reasons of network stability we plan to do our best to spread out our hosted nodes across various data centers. They will be spread out through our data center partners and will include locations in the US, Singapore, Australia, Ireland and Brazil
Can I Pick Which Pool I Mine With?
No, for reasons of security and ease of maintenance we will be using a set pool.
I Have Additional Questions
Feel free to post them here or email [email protected]
original thread: http://www.reddit.com/r/Bitcoin/comments/25gvxv/affordable_reliable_bitcoin_cloud_mining_full/
Known for our reliability and security Vault of Satoshi's managed mining contracts take all the headaches out of mining. Using high-end, hosted ASIC machines we allow you to start mining with ease. Simply receive weekly payouts to your Vault of Satoshi account, or any BTC Wallet (additional network fees apply) with no need to worry about server racks, cooling, power supplies, downtime, power or other logistics.
Our contracts are one-year contracts and available to anyone world wide.
Introductory Pricing in Canadian Dollars
10Gh/s = $70/year
50Gh/s = $325/year
100Gh/s = $600/year
150Gh/s = $900/year (Only $6 per Gh/s) + 1 year hosting a Full Bitcoin Node
*Orders above $10,000/year can inquire for additional discounts
*Prices are subject to change without notice. You may lock your pricing in for multiple years upfront.
*For every 10 plans sold excluding our 150Gh/s plans we will also host a Full Bitcoin Node
Payment can be done via:
-Bitcoin
-Credit Card
-Paypal
-Online Interac (Canadians Only)
-Wire Transfer (Canadian Only)
-Vault of Satoshi Account Balances
-Litecoin
-Dogecoin
How Do I Sign Up
During our beta all signups will be handled manually and you can email [email protected] for more information
How will Payments Be Made
Payments will be made each week to a Bitcoin Wallet of your choice.
**Is this open to US customers?**
Absolutely!
What are Full Bitcoin Nodes
The Bitcoin Network operates on a Peer-to-Peer structure where each "nodes" (or full clients) have downloaded an entire copy of the Blockchain and help to broadcast and validate transactions and blocks to the network
To ensure the long term health and stability of the network it is important to have a large number of nodes that are diversified by region. The emergence of online wallets and large size of the blockchain has hindered the number of users operating full wallets.
In doing our part we at Vault of Satoshi will be adding full Bitcoin nodes for every 150GH/s plan we sell as well as a full Bitcoin node for every other 10 plans we sell.
Where will the nodes be hosted?
For reasons of network stability we plan to do our best to spread out our hosted nodes across various data centers. They will be spread out through our data center partners and will include locations in the US, Singapore, Australia, Ireland and Brazil
Can I Pick Which Pool I Mine With?
No, for reasons of security and ease of maintenance we will be using a set pool.
I Have Additional Questions
Feel free to post them here or email [email protected]
original thread: http://www.reddit.com/r/Bitcoin/comments/25gvxv/affordable_reliable_bitcoin_cloud_mining_full/
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