HK mining contract | Bitcointalksearch.org

DamienBlack

jr. member

Activity: 56

Merit: 1

Quote from: nakowa on June 15, 2011, 06:17:32 AM

Quote from: nakowa link=topic=17208.msg221313#msg221313
update 2011-06-15
[b

1 year contract guarantee against risk[/b]:
If you want your money back, just pay me back all of BTC you've mined in this year.

Now _that_ is a good idea. The offer seems much more appealing now. Makes sense to me. Low risk, low gain, unless bitcoins go way up, then gain for everyone.

nakowa

member

Activity: 83

Merit: 10

Quote from: triforcelink on June 15, 2011, 04:36:28 AM

Quote from: AnonymousBat on June 15, 2011, 04:26:34 AM

Quote from: DamienBlack on June 15, 2011, 04:19:31 AM

Cool service, but I don't see how I could make a profit with this unless I'm banking on bitcoin prices rising dramatically. If I'm counting on the raise in price, I feel like I would make the choice to invest directly in bitcoins.

$1900 could buy me about 95 bitcoins today. 1 Gh/s would give me about 1 bitcoin a day at the new difficulty taking effect in about 3 hours (about 868,000). So if the difficulty stays _completely_flat_ for the next three months, I'll only make 90 bitcoins. But we know that the difficulty is rising, so the most we could count on is about 50, and even that is pushing it.

I don't mean to disparage your services on your own thread, I'm sorry. But the numbers just don't add up for me. Does this make sense for anyone else? Unlike investing in mining equipment, you don't even get resell money. Am I missing anything? Can anyone give insight on why you would choose to do this?

It doesn't make sense to me either. I'm fairly sure he's pricing it just below the bitcoin costs.

He can't go too low because then it's just more profitable for him to mine the coins himself, and the risk just isn't worth the reward for the buyer in my humble opinion.

agreed. maybe a change in terms could make this more attractive, such as a guarantee to at least get your money back. if bitcoin goes down, op will at least have his equipment.

low risk low reward

just updated the contract info as you suggested.

nakowa

member

Activity: 83

Merit: 10

Quote from: DamienBlack on June 15, 2011, 04:19:31 AM

agreed. maybe a change in terms could make this more attractive, such as a guarantee to at least get your money back. if bitcoin goes down, op will at least have his equipment.

low risk low reward

just update the contract info as you suggested.

triforcelink

member

Activity: 112

Merit: 10

Quote from: AnonymousBat on June 15, 2011, 04:26:34 AM

Quote from: DamienBlack on June 15, 2011, 04:19:31 AM

Cool service, but I don't see how I could make a profit with this unless I'm banking on bitcoin prices rising dramatically. If I'm counting on the raise in price, I feel like I would make the choice to invest directly in bitcoins.

$1900 could buy me about 95 bitcoins today. 1 Gh/s would give me about 1 bitcoin a day at the new difficulty taking effect in about 3 hours (about 868,000). So if the difficulty stays _completely_flat_ for the next three months, I'll only make 90 bitcoins. But we know that the difficulty is rising, so the most we could count on is about 50, and even that is pushing it.

I don't mean to disparage your services on your own thread, I'm sorry. But the numbers just don't add up for me. Does this make sense for anyone else? Unlike investing in mining equipment, you don't even get resell money. Am I missing anything? Can anyone give insight on why you would choose to do this?

It doesn't make sense to me either. I'm fairly sure he's pricing it just below the bitcoin costs.

He can't go too low because then it's just more profitable for him to mine the coins himself, and the risk just isn't worth the reward for the buyer in my humble opinion.

agreed. maybe a change in terms could make this more attractive, such as a guarantee to at least get your money back. if bitcoin goes down, op will at least have his equipment.

low risk low reward

AnonymousBat

member

Activity: 111

Merit: 10

Quote from: DamienBlack on June 15, 2011, 04:19:31 AM

Cool service, but I don't see how I could make a profit with this unless I'm banking on bitcoin prices rising dramatically. If I'm counting on the raise in price, I feel like I would make the choice to invest directly in bitcoins.

$1900 could buy me about 95 bitcoins today. 1 Gh/s would give me about 1 bitcoin a day at the new difficulty taking effect in about 3 hours (about 868,000). So if the difficulty stays _completely_flat_ for the next three months, I'll only make 90 bitcoins. But we know that the difficulty is rising, so the most we could count on is about 50, and even that is pushing it.

I don't mean to disparage your services on your own thread, I'm sorry. But the numbers just don't add up for me. Does this make sense for anyone else? Unlike investing in mining equipment, you don't even get resell money. Am I missing anything? Can anyone give insight on why you would choose to do this?

It doesn't make sense to me either. I'm fairly sure he's pricing it just below the bitcoin costs.

He can't go too low because then it's just more profitable for him to mine the coins himself, and the risk just isn't worth the reward for the buyer in my humble opinion.

DamienBlack

jr. member

Activity: 56

Merit: 1

Quote from: nakowa on June 15, 2011, 04:23:57 AM

Direct buying is clearly an option, but that doesn't necessarily mean no one wants to mine, albeit the difficulty is rising.

One other point:in many countries outside US, buying BTC is not as easy as you can imagine, at least not easier than direct mining.

Ah, thank you. That is a good point. The price is a lot higher in some other currencies too, when converted. I didn't take that into account.

I would say that the cost for this service (the three month plan at least), at this exact moment, seems to be about $45 a bitcoin. It depends heavily on future difficulty rises and only applies right now. I'm estimating at about 35% rises in difficulty, which might be low. If difficulties goes up slower, the price goes down. More difficulty? The price goes up.

Again, cool service.

nakowa

member

Activity: 83

Merit: 10

Quote from: DamienBlack on June 15, 2011, 04:19:31 AM

Cool service, but I don't see how I could make a profit with this unless I'm banking on bitcoin prices rising dramatically. If I'm counting on the raise in price, I feel like I would make the choice to invest directly in bitcoins.

$1900 could buy me about 95 bitcoins today. 1 Gh/s would give me about 1 bitcoin a day at the new difficulty taking effect in about 3 hours (about 868,000). So if the difficulty stays _completely_flat_ for the next three months, I'll only make 90 bitcoins. But we know that the difficulty is rising, so the most we could count on is about 50, and even that is pushing it.

I don't me to disparage your services on your own thread, I'm sorry. But the numbers just don't add up for me. Does this make sense for anyone else?

Direct buying is clearly an option, but that doesn't necessarily mean no one wants to mine, albeit the difficulty is rising.

One other point:in many countries outside US, buying BTC is not as easy as you can imagine, at least not easier than direct mining.

DamienBlack

jr. member

Activity: 56

Merit: 1

Cool service, but I don't see how I could make a profit with this unless I'm banking on bitcoin prices rising dramatically. If I'm counting on the raise in price, I feel like I would make the choice to invest directly in bitcoins.

$1900 could buy me about 95 bitcoins today. 1 Gh/s would give me about 1 bitcoin a day at the new difficulty taking effect in about 3 hours (about 868,000). So if the difficulty stays _completely_flat_ for the next three months, I'll only make 90 bitcoins. But we know that the difficulty is rising, so the most we could count on is about 50, and even that is pushing it.

I don't mean to disparage your services on your own thread, I'm sorry. But the numbers just don't add up for me. Does this make sense for anyone else? Unlike investing in mining equipment, you don't even get resell money. Am I missing anything? Can anyone give insight on why you would choose to do this?

Scientician!

newbie

Activity: 42

Merit: 0

Quote from: sirj on June 15, 2011, 02:26:33 AM

no 6990? Weak.

The cards he's using should make no difference to you whatsoever (even though he IS using 6990s). 1 Ghash = 1Ghash whether or not it came from 1.5 6990s worth of flops or a hundred 1900XTs..

At current exchange rates, it looks like Vladimir might have some serious competition in the newly emergent mercenary miner market!

Nakowa is more than $100/mo. cheaper!

nakowa

member

Activity: 83

Merit: 10

Quote from: mellowhead on June 15, 2011, 02:36:16 AM

Payment up front, or at the end of each month?

Payment up front, I think you should know btc value will be rise up too soon sometimes...

nakowa

member

Activity: 83

Merit: 10

Quote from: sirj on June 15, 2011, 02:26:33 AM

no 6990? Weak.

sorry, that's a typo. the gpu is 6990. otherwise, 2 cards cannot generate speed more 1gH/s...

mellowhead

member

Activity: 98

Merit: 10

Payment up front, or at the end of each month?

sirj

newbie

Activity: 15

Merit: 0

no 6990? Weak.

nakowa

member

Activity: 83

Merit: 10

PM me or email me for further discuss.
請PM我或者發email給我，與我進一步商談。

http://21bitcoin.com/mining-contract

English

Rig Specifics:

GPU: ASUS Radeon HD 6990 (overclock disabled）
Operation system: Ubuntu 11.04 64
Minerware: poclbm
Working: 7X24

Rental Price:

1Gh/s 3 months: $1900
1Gh/s 6 months: $3700
1Gh/s 12 months: $7200
Days calculating according to calendar

Advantages compared to owning rig(s) yourself:

no heat
no noise
no risk
no electricity charges
no power capacity deficiency
no setup efforts
no maintaining troubles
no bad luck
no interrupts of any kind

... and steady BTC income!

update 2011-06-15
1 year contract guarantee against risk:
If you want your money back, just pay me back all of BTC you've mined in this year.

中文

礦機參數:

GPU: ASUS Radeon HD 6990 (overclock disabled）
操作系統: Ubuntu 11.04 64位
挖礦軟件: poclbm
運作時間: 7X24

租金:

1Gh/s 3 月: $1900 or ￥12500
1Gh/s 6 months: $3700 or ￥24000
1Gh/s 12 months: $7200 or ￥46500
(日期按照日曆計算)

相對自己裝礦機的好處:

沒有散熱問題
沒有噪音困擾
沒有風險
沒有電費
沒有供電不足問題
沒有安裝麻煩
沒有維護困難
沒有壞運氣
沒有任何中斷可能
... 的同時卻有穩定的 BTC 收入!

更新 2011-06-15
1年期合約風險規避:
合同到期，可你卻想退款，只需要返還當年獲得的所有BTC即可。[/list]

Topic: HK mining contract (Read 5566 times)