Topic: [gauging interest] Hosted Gridseed Farm -- 200 units split into 1000 shares (Read 1010 times)

might do 5 shares

scotland is scotland. the north is Berwick, newcassle, milton keynes. that is more likely, yes

With my maps, Scotland IS THE NORTH so why would they invade themselves??  It's more likely that the US would find an excuse to have a military base near there and ' contaminated material ' spill happens causing an issue

1) open mouth
2) put tongue in cheek
3) talk that way 

I'm interested BUT BTC broke.....
The hash rate I've got keeps going up and the earnings keep going down as fast as I can afford Ants, etc....

probably will take 5-10 shares

Interested in 10 - 15 shares

Even if Scotland invades the north again?

Power cuts -- no safeguards, however we have never had one

We have a dedicated fat pipe here at 100G up and down. We also have back up access to the main box for the centre if our box fails. We are in a business centre with a lot of high tech businesses and a lot of critical data users. If the network goes down, someone is on it straight away

We are like fort knox in here, so physical taking of the hardware is almost impossible. However we are also fully insured for loss of business and replacement of stolen goods.

Group would get funded through loss of business insurance, we would replace the hardware straight away and then wait for insurance payout to get paid back ourselves.

Yeah of course we will accept BTC payment no problem, our website is linked up to the coinbase API
Hi,

Still in idea development phase. Shares are for coins mined, I was thinking that you could cash out the hardware if you like for a simple shipping fee at any time. One miner is 5 shares. Basically I worked it on a share being a chip, as each miner has 5 chips.

If someone cashes out their hardware then everyone would increase their payout by the % cashed out. So if you wanted a miner you would take one for 5 shares and then the remaining coins in the group would be divided by 995 instead of 1000. Everyone gets the same payout and you get your miner.

Interested.

What safeguards do you have in case of a) power cuts b) ISP failure c) physical attack/burglary/vandalism/fire?

I'll probably be in, for less than 10 shares. Can I pay with Bitcoin rather than GBP?

How long do you think you will be running for?

Just checking - the shares are for the coins mined, and not the hardware. Is this the case?

Yup good plan and one we would be more than happy to implement

Ever heard of hot spares?? Why not simply run 4 or so extra miners? There's no loss because there earning, and that's enough to cover failures and keep an active 200 machines mining all the time for the pool.

also, this implies that all your 'warehouse' miners are mining(not boxed up) until they are sold??

The entire farm will hash at 60M/hash, as stated in the original post. This equates to one share being 60 K/hash

Protection against hardware failure. In my mind 200 devices is better than less devices, as 1 failure only affects 0.5% of hash rate. We have these moving round in stock all the time so any units that die will be replaced with working units as fast as possible. Can't give any guarantee as to the timescale that would be, because it would depend how we are for units in the warehouse at anytime. it will however be first possible opportunity

Payment will only be accepted in GBP, exchange rates vary depending on your methods, best to do your own conversions. Official interbank rate is around 1GBP to 1.66 USD but it is hard to find that rate. When we take payments in BTC we use coinbase so it will be at current coinbase rate.

Once we can confirm there is enough interest we can start mining within 10-14 days. I realise timing is very important but as we will be using a switch alt coin pool it is less so than if we were running a SHA farm.

Hello! More info please:
- total gh/s power and how much that translates into GH/s per share (not all of us are familiar with gridseed hardware)
- protection against hardware failure? when using 200 different pieces of hardware, how liable are you/us to failures?
- Maybe put USD per share instead of GBP? Most common fiat to BTC conversion is from USD not GBP.
- When would this be scheduled to start mining? Profitability for everyone in the mining sector depends 100% on timing.

Thanks and look forward to your replies!

As some of you will already know we are a Gridseed reseller. We have sold a few hundred units of Gridseed succesfully via the forum already.

We are considering offering a hosted Gridseed farm of 200 units, with scaling prices dropping the more shares you buy.

This is a breakdown of how we are planning to run it.

The farm will be running at 800mhz so should run 60 at Mhash

We will mine at clever mining pool

http://www.clevermining.com/

The way it works is that it autoswitches between most profitable coin and auto flips them to BTC

The pool is very open and stats are great and easy for all to see, everything will be totally transparent.

You can see here http://www.clevermining.com/users the users and stats, all members of the group will get the user ID and can see the BTC made in the last 24 hours.

Everyone in the group will get the public wallet address to see how much BTC is in there and can compare against the stats on clever mining pool.

Every Friday the BTC will be divided into 1000 and then sent to each member of the group depending how many shares they own.

Before the money is divided amongst the group we will take our maintenance fee, which will be GBP £150 every week to cover electricity costs and admin costs of keeping the farm running and managing payouts.

We feel it is more fair to do it this way as it negates any fluctuation in crypto prices, unfortunately we can't pay our electricity bill in BTC.


Prices will be offered as follows

less than 10 shares GBP 32 per share

10 to 20 shares -- GBP 29 per share

21 to 50 shares -- GBP 28 per share

50 shares and above GBP 26 per share.

This offers excellent value compared to purchasing miners at around the same price.



If there is enough interest we will take this forwards, put an order in for all the kit and then get it moving.

Please register interest below.