[HOSTING] High Cacacity & Density Bitcoin ASIC Hosting - page 4.

villex

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Quote from: gektek on June 14, 2013, 06:12:01 PM

Quote from: villex on June 14, 2013, 06:02:25 PM

Yes, in the US.
But the thing is, a hosting service will be moving substantial amounts of BTC.

But but but...he's just renting out space in a room to house the machines whilst they be running. I don't think any of the coin generated will ever go to his wallet...it should be going directly to whoever's wallet the machine belongs too. I don't even see the service being paid for in btc...USD seems perfectly reasonable here...through paypal even like any other hosting service would. Just sayin...

I know, I'm not trying to discourage anyone.
I'm trying to make people think about it, because right now everyone is saying "nothing will happen", but when the time comes and something happens you should be prepared.

Quote from: gektek on June 14, 2013, 06:12:01 PM

edit: wouldn't it be similar to a farmers collective? I rent land to grow crops...land owner cares for the crops but I eat the food. Or stabling a horse? Or storing a boat? Or am I missing the fact that it is JUST because it is a digital currency?

Actually, the US government is trying to regulate BTC

gektek

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Quote from: villex on June 14, 2013, 06:02:25 PM

Yes, in the US.
But the thing is, a hosting service will be moving substantial amounts of BTC.

But but but...he's just renting out space in a room to house the machines whilst they be running. I don't think any of the coin generated will ever go to his wallet...it should be going directly to whoever's wallet the machine belongs too. I don't even see the service being paid for in btc...USD seems perfectly reasonable here...through paypal even like any other hosting service would. Just sayin...

edit: wouldn't it be similar to a farmers collective? I rent land to grow crops...land owner cares for the crops but I eat the food. Or stabling a horse? Or storing a boat? Or am I missing the fact that it is JUST because it is a digital currency?

villex

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Mining hardware assembler and administrator.

Quote from: SebastianJu on June 14, 2013, 06:00:00 PM

Quote from: villex on June 14, 2013, 05:42:58 PM

Of course, but the regulations are not only for exchangers.
Also, an extract from the document.
"In addition, a person is an exchanger and a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency."

In this definition everyone who uses bitcoins would be an exchanger isnt it?

Yes, in the US.
But the thing is, a hosting service will be moving substantial amounts of BTC.

SebastianJu

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Quote from: villex on June 14, 2013, 05:42:58 PM

Of course, but the regulations are not only for exchangers.
Also, an extract from the document.
"In addition, a person is an exchanger and a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency."

In this definition everyone who uses bitcoins would be an exchanger isnt it?

villex

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Mining hardware assembler and administrator.

Quote from: SebastianJu on June 14, 2013, 05:29:37 PM

Quote from: villex on June 14, 2013, 05:14:41 PM

Quote from: Dalkore on June 14, 2013, 01:35:06 PM

Quote from: villex on June 13, 2013, 01:40:12 PM

What concerns me more about this service is, What will happen when the authorities found out you're generating digital currency. According the new FinCEN regulations, Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies

And I think a 2,500sqft warehouse will capt their attention.

I am not exchanging any Bitcoins. This is a pure management service with payment send direct to the owner. Does not fall under that guidance.

BTW - Service is open and we are accepting hardware. Demand has been very strong.

So, are you telling me you're not going to exchange currency from your revenue to pay for expenses?
I'm just seeing a big hole there where the authorities could start messing around.

When the customers pay for the hosting its a normal business. He can exchange it to usd or keep it in btc. Its not that he runs an exchange then.

@Dalkore... can you explain some more what your service includes? Remote control for the miner, for example setting the pool and so? Whats the monthly fee? ...

I wonder if problems occur by importing into usa. One probably has to pay vat again when importing.

Of course, but the regulations are not only for exchangers.
Also, an extract from the document.
"In addition, a person is an exchanger and a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency."

SebastianJu

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Quote from: villex on June 14, 2013, 05:14:41 PM

Quote from: Dalkore on June 14, 2013, 01:35:06 PM

Quote from: villex on June 13, 2013, 01:40:12 PM

What concerns me more about this service is, What will happen when the authorities found out you're generating digital currency. According the new FinCEN regulations, Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies

And I think a 2,500sqft warehouse will capt their attention.

I am not exchanging any Bitcoins. This is a pure management service with payment send direct to the owner. Does not fall under that guidance.

BTW - Service is open and we are accepting hardware. Demand has been very strong.

So, are you telling me you're not going to exchange currency from your revenue to pay for expenses?
I'm just seeing a big hole there where the authorities could start messing around.

When the customers pay for the hosting its a normal business. He can exchange it to usd or keep it in btc. Its not that he runs an exchange then.

@Dalkore... can you explain some more what your service includes? Remote control for the miner, for example setting the pool and so? Whats the monthly fee? ...

I wonder if problems occur by importing into usa. One probably has to pay vat again when importing.

villex

full member

Activity: 154

Merit: 100

Mining hardware assembler and administrator.

Quote from: Dalkore on June 14, 2013, 01:35:06 PM

Quote from: villex on June 13, 2013, 01:40:12 PM

What concerns me more about this service is, What will happen when the authorities found out you're generating digital currency. According the new FinCEN regulations, Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies

And I think a 2,500sqft warehouse will capt their attention.

I am not exchanging any Bitcoins. This is a pure management service with payment send direct to the owner. Does not fall under that guidance.

BTW - Service is open and we are accepting hardware. Demand has been very strong.

So, are you telling me you're not going to exchange currency from your revenue to pay for expenses?
I'm just seeing a big hole there where the authorities could start messing around.

Zubilica

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Hosting fee ?

Dalkore

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Quote from: villex on June 13, 2013, 01:40:12 PM

What concerns me more about this service is, What will happen when the authorities found out you're generating digital currency. According the new FinCEN regulations, Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies

And I think a 2,500sqft warehouse will capt their attention.

I am not exchanging any Bitcoins. This is a pure management service with payment send direct to the owner. Does not fall under that guidance.

BTW - Service is open and we are accepting hardware. Demand has been very strong.

villex

full member

Activity: 154

Merit: 100

Mining hardware assembler and administrator.

Quote from: SebastianJu on June 13, 2013, 04:00:04 PM

Quote from: villex on June 13, 2013, 01:40:12 PM

What concerns me more about this service is, What will happen when the authorities found out you're generating digital currency. According the new FinCEN regulations, Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies

And I think a 2,500sqft warehouse will capt their attention.

What if he simply offers hosting and doesnt interfere with what the customers do with their hardware? Its not his responsibility then. He only gets a fee for hosting the machines. Maybe he doesnt even have to mention bitcoins. Name it Hosting for security algorithm calculation network devices or so... Grin

Well, I just want to leave that there. Just look at FC4B and learn from what is happening there. I'ts a point every hosting provider in the US should take in count.

By the way, thanks for your help.

SebastianJu

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Quote from: villex on June 13, 2013, 01:40:12 PM

What concerns me more about this service is, What will happen when the authorities found out you're generating digital currency. According the new FinCEN regulations, Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies

And I think a 2,500sqft warehouse will capt their attention.

What if he simply offers hosting and doesnt interfere with what the customers do with their hardware? Its not his responsibility then. He only gets a fee for hosting the machines. Maybe he doesnt even have to mention bitcoins. Name it Hosting for security algorithm calculation network devices or so... Grin

villex

full member

Activity: 154

Merit: 100

Mining hardware assembler and administrator.

What concerns me more about this service is, What will happen when the authorities found out you're generating digital currency. According the new FinCEN regulations, Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies

And I think a 2,500sqft warehouse will capt their attention.

Aureum_Coffee

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Any update?

gektek

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I rave ... whats your excuse?!?

Quote from: SebastianJu on June 01, 2013, 03:19:39 PM

Quote from: gektek on June 01, 2013, 02:25:50 PM

At the very least...living in Washington myself...I know where to set up shop now Tongue

I guess you need some miners for doing so. For the average joe it probably doesnt make sense to rent business rooms there.

si si...I'm only running 2 Gh/s here at home but I'm working toward investing in bigger better badder soon too. I was going to go solar but at 0.02...if rent also happens to be cheap in the area...it may be worthwhile to rethink things a bit...hmmm... Not to mention warehouse space that already has cooling for the miners might also be good for cooling 'happy' plants as well. This is Washington after all Wink

SebastianJu

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Quote from: gektek on June 01, 2013, 02:25:50 PM

At the very least...living in Washington myself...I know where to set up shop now Tongue

I guess you need some miners for doing so. For the average joe it probably doesnt make sense to rent business rooms there.

gektek

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Activity: 237

Merit: 100

I rave ... whats your excuse?!?

At the very least...living in Washington myself...I know where to set up shop now Tongue

SebastianJu

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Quote from: Zubilica on June 01, 2013, 03:40:10 AM

Maybe he is securing his business and does not have the time to update this.

Not some minutes? I see he was logged in a couple hours ago. So i wonder if there isnt something new to tell yet. But even then a status update would be good.

Zubilica

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Maybe he is securing his business and does not have the time to update this.

SebastianJu

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Didnt get an answer to my pm either. I wonder why.

gektek

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I rave ... whats your excuse?!?

Patiently waiting for an update as well Wink

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