I mentioned a couple days ago that I would be proposing some changes to the Teramining upgrade.
- I would like to propose that the Teramining offering would be at 90% PPS. I have done a lot of thinking about this and I believe that Teramining would be unsustainable over the long term without it.
- I would like to change the fee structure. The new fee structure would be tiered.
- 1-100 bonds = .40 BTC per bond
- 100-999 bonds = .35 BTC per bond
- >= 1000 bonds = .30 BTC per bond
Post your constructive questions or comments in the thread and I'll make sure to answer them in a timely fashion.
Best,
gigavps
Wait! 90% PPS? Are you telling me you are reducing to 90 mhash per upgrade instead of 100 mhash?
I'm not sure you realize, but 1 BTC equals 350 mhash on the current ASIC specs/price for BFL. 0.40 for 90 mhash upgrade? Really? 0.40 BTC buys 140 mhash. That's already a 35 % cut for you.
you already have 3 rigs. 1 rigs converts to 50% free on an ASIC rig. Or 500 Ghash free on each upgrade (1500 Ghash total). That's basically 15000 x 100 mhash FREE (or 15000 upgrades to 4 x 25 mhash TERAMINING BONDS). Only the other half of those rigs need to be paid. (That's 37.5% of the upgrade for all bonds free)
Almost HALF of the 40 000 upgrades FREE to top the fact the upgrade price has a 35% cut included of what it could directly buy.
And the cherry on top of that, that leaves a large GPU farm for you to sell!
I would really like to see how you arrived to the conclusion that you need to charge that much to give so little.
1. You take 35% cut of what the upgrade cost can buy directly.
2. BUT, you actually get 37.5% reduction on the upgrade costs to top it.
3. You're left with your GPU farm you can sell to further reduce the upgrade cost.
Now, I wouldn't mind the 35% even if it's high, but that seems to completely make abstraction the fact that #2 and #3 are already paid for by investors. If we consider that's a 50% reduction total worth on upgrade price, asking for 0.20 BTC per upgrade would be a 35% cut, but 0.40 BTC seems damn high.
Can you give any explanation as to what your actual cut is in this, and why it seems you're taking a seemingly insane cut, barring there has been some major issues along the way you forgot to tell us? BFL rigs will require MUCH less maintenance, space, extra equipment and power usage per performance than your old farm, but you're jacking up the price and your % cut? At least give us numbers to back such a decision.