Topic: [CLOSED-HASHING NOW]Doc's Instant Hash R1 - 0/18 shares available 0.1BTC=10GH/s (Read 2245 times)

I'm agree, that we have to sell it ASAP. Such a bad luck!

Let me know if you need any help in selling!

So as of this point, the hardware isn't quite able to cover the cost of electricity+hosting.

The plan now is to get it sold ASAP and spread the money from that out based on shares.  Unfortunately the drop in BTC/USD exchange rate that happened just as this buy started had a negative effect on us all. The good news is, as long as we can get a decent sales price no one should be losing much on this investment - we may even make a small profit. That's not a guarantee of course, but based on the prices these are going for on ebay, and the current exchange rate we should be pretty close.

--

As an aside...I'm looking into options to take the last "variable" out of mining for us.. the BTC/USD exchange rates...
Right now we buy our miners with BTC, they mine BTC, so quite frankly the exchange rate to USD and back should be meaningless. If you pay 2 BTC and make back 2 BTC, you broke even regardless if the exchange rate doubles or halves. The one problem is the hosting / electricity cost. Because of this, I'm in talks with a local data center to see if something can be arranged for fixed hosting costs in BTC, at least across some multi-month spans.

Whether this would be either a per-payout hosting fee in BTC, or baking in 6 months of hosting time into the cost of the equipment and pre-paying it all I'm not sure, but it seems like the exchange rate is the biggest risk we face these days, NOT the ever-climbing difficulty...

Hello Doc! Seems like now we're paying for electricity more than we can afford!
I'm worrying   

What we can do? Wait? Or maybe sell it? 

Latest payment went out - good to be back in the profitable side of things!

Latest Update:

The decision to post-pone the hosting fees from the first payout didn't work nearly as well as hoped.
I went ahead and took the full amount (totaling just over $220, plus almost $30 of my own) to pay the whole hosting fee due for last month. I figure we'll start fresh on this and should be back to beating the hosting fees this next payout!

Just posted R2 here: https://bitcointalksearch.org/topic/m.5177976

NMC is also being mined along with the BTC. It will be converted to BTC as it makes sense and added to the payouts (probably once a month or so)

Doc, maybe we could start merged mining as well to compensate for electricity?

R2 is being planned now - will announce as soon as I have all the details locked down.

For R1:
Payments just went out.
Payout price was 0.029835596 per share.

Keep in mind, no hosting fee was taken this payout since the current price wonkiness is likely to be resolved by the end of month. This also means that at the end of the month, we'll have to take the full $250 ($150 hosting fee for this first payout, and then $100 for the new lower hosting fee for the 2nd) out of the 2nd payout. Here's hoping that value rises so it takes less BTC!

Let me know if you have any questions!

Hey Doc,

Any word on R2?

Alright, majority of shares have spoken - we'll postpone the hosting fee this 1 time until end of month to account for the current craziness going on (thanks SR2 for your fake hack...we all appreciate losing tons of money...)

I'm voting to wait until the end of the month. Price seems to be rising.

It appears it's starting to rise, so I'd vote to wait until end of the month.  It can always get worse but seems less likely.

I've acquired a new Antminer S1 which, assuming it runs well the next couple of days as a test, will be replacing the hardware this round is currently mining of (assuming shareholders don't protest to this) once this first pay-out occurs this weekend.

The upside is a reduced hosting cost due to less electricity usage (it will drop from $150 per payout to $100 per payout).

The only potential downside is this means it's running on a single piece of hardware instead of spread across 5 (single point of failure, should anything go wrong). That being said, I don't expect a brand new S1 (which have proven to be pretty solid pieces of gear) to have any issues, but I did want to bring this up.

Assuming I don't hear otherwise this will be done.

Also, with the current state of BTC:USD exchange rate, I wanted opinions - with the recent drop, do we take the per-payout hosting fee out of this payout, or take it all (the full month's hosting cost) out of the end-of-month payout (hoping for the exchange rate to improve by then). Opinions?

Website to track progress is up:

http://docsmining.com/round1.php

Current earnings is the earning for this payout period.

The hosting estimate is based on the (fairly steady) valuation of $800/BTC. The actual value will be calculated on payout day.

The estimated earnings / payout are pretty naive and just take the current value plus the 24 hour estimate multiplied by the number of days remaining...no partial days or difficulty changes are taken into account. Still, it should give an idea of what to expect for your next payout.

I'm going to be completely honest here...it got delayed a day because I couldn't decide on the domain name I wanted lol...

It's coming up (in a very interim manner) in the next couple of hours (when DNS updates)
Won't be final by any means, but will give a status on this first round.

Any updates on the website?

Those last few shares went quick! We are sold out.
Look out for round 2 soon(isn) - probably middle of the month.
It will be after this first round of people can verify they've received their payments, and I have more hardware on-hand.

Transaction ID: d4b3c727f9a2d5937363d8c84389b9a9cefd89364782a8a0a185c9089556fa12
Payout Address: 1LpiV6atR3wTxcJmz6QWpDQLWG1z31g6Dp

Reserve one share for me please.
I'm about to send you the funds.