byteminr - new entrant in hosted hashing - page 2.

Altoidnerd

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Quote from: Altoidnerd on July 21, 2013, 02:10:29 AM

Would love to see contracts for normalized hashing power, a concept that accounts for network difficulty by dividing out the difficulty. 12 months of 100 GH/(s•difficulty*10^6)...

The challenge I see with that is where the risk lies...

That's exactly it. Perhaps then the answer is shorter contracts. 12 months seems distastefully long from my perspective, if we are talking about a fixed hashrate.

12 months probably seems like an eternity to offer a sliding normalized hashrate.

How about 1 month? 3 Months? What is the magic number that makes it a win/win?

Altoidnerd

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Activity: 406

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http://altoidnerd.com

Would love to see contracts for normalized hashing power, a concept that accounts for network difficulty by dividing out the difficulty. 12 months of 100 GH/(s•difficulty*10^6)...

This type of investment is interesting to me. I like it. The eternal question plagues anyone who is interested in buying expensive mining hardware - what will be the network difficulty XYZ months from now?

In the case an investor purchases his/her own mining equipment, the resale value of the equipment is a nice insurance policy. How could a company offering a hosting service pass that insurance policy onto investors?

A startup can't really. Investors need to trust in management to make decisions to improve hardware logically as the network difficulty rises. Once your company has a name for itself, I envision a product of the normalized hashrate flavor being popular.

byteminr

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Thanks for the feedback, not an attack at all. A fairer comparison would perhaps be with cloudhashing.com, where we compare more favourably. Paying for a hosted service is quite different proposition from owning your own kit and all the troubles that go with it.

Cheers

r1senfa17h

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Wow, that's quite the markup @ $44.60/GH/s through $47.50/GH/s compared to the ~$18.50/GH/s you're getting for those KnC Jupiters. You're barely below BFL's $50/GH/s. Obviously, a hosted solution deserves a premium for the service. I just think your price point may be a tad high for the current market.

Please don't see this as an attack, I aim to give honest feedback. I hope you do well with this and admire your entrepreneurialism!

byteminr

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CryptoTalk.Org - Get Paid for every Post!

Hi Everyone

We're really pleased today to announce our new Bitcoin mining service is open for expressions of interest:

We believe there is a place for hosted mining services especially as good quality mining equipment carries a high price.

We're looking for feedback on our potential offers while we get our systems in order for launch in late September, inline with deliveries from KnCMiner.

Our website is: www.byteminr.com

We are a UK registered company (allbeit a very new one like most in the Bitcoin industry) but we intend to offer hosted mining services world-wide.

We welcome all feedback, directly through our website or on this forum as we'll be adding to the (currently small) FAQ as questions arise.

Adrian Cole
Founder
BYTEMINR Limited

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