ok. wait so 2ghs = 1btc a day right? so 8ghs = 4btc a day * 7 days = 28btc +- 2btc with variance.
how's this a good deal?
how's this a good deal?
Good God, the amount of ignorance on this forum is mind blowing.
Topic: Mining contract - 8,000 MH/s (Read 3513 times)
Good God, the amount of ignorance on this forum is mind blowing.
ok. wait so 2ghs = 1btc a day right? so 8ghs = 4btc a day * 7 days = 28btc +- 2btc with variance.
how's this a good deal?
how's this a good deal?
The original post states 8000 mh/s. Did you add hardware since then?
Yes indeed....I added two 5970's (thanks Newegg!) and some random smaller cards. I am well above 9,000 Mh/s, but with this many machines I suffer 1 or 2 outages a day. Therefore I will only garauntee 8,500 MH/s.
Price is 30 BTC.
The original post states 8000 mh/s. Did you add hardware since then?
Is it 8000 real mh/s as detected by mining program? And 8500-9000 I assume is whats being reported by the pool being used?
Not at all. I track my miners individually and tally my total hash rate in a spreadsheet.
I check it against what the pool reports to make sure it is close. I am usually within 150 MH/s of what I expect to be.
Is it 8000 real mh/s as detected by mining program? And 8500-9000 I assume is whats being reported by the pool being used?
The current contract expires today at 7:00PM EST.
Is anyone intrested in purchasing the next 7 days? I will garauntee 8,500 MH/s for the entire contract.
Price is 30 BTC.
Is anyone intrested in purchasing the next 7 days? I will garauntee 8,500 MH/s for the entire contract.
Price is 30 BTC.
can you post how the last contract went?
If you are interested in the next contract, I have averaged 9,000 MH/s over the last 48 hours. Those 5970's certainly kick it in the ass.
The current contract expires today at 7:00PM EST.
Is anyone intrested in purchasing the next 7 days? I will garauntee 8,500 MH/s for the entire contract.
Price is 30 BTC.
Is anyone intrested in purchasing the next 7 days? I will garauntee 8,500 MH/s for the entire contract.
Price is 30 BTC.
can you post how the last contract went?
I purchased the last 7 day contract and everything went smoothly.
Indeed, it was a great transaction. Bitsense kept his word and was excellent to work with.
The current contract expires today at 7:00PM EST.
Is anyone intrested in purchasing the next 7 days? I will garauntee 8,500 MH/s for the entire contract.
Price is 30 BTC.
Is anyone intrested in purchasing the next 7 days? I will garauntee 8,500 MH/s for the entire contract.
Price is 30 BTC.
can you post how the last contract went?
I purchased the last 7 day contract and everything went smoothly.
I'll offer 27 bitcoins (all I have) if you switch the miners to my deepbit account.
The current contract expires today at 7:00PM EST.
Is anyone intrested in purchasing the next 7 days? I will garauntee 8,500 MH/s for the entire contract.
Price is 30 BTC.
Is anyone intrested in purchasing the next 7 days? I will garauntee 8,500 MH/s for the entire contract.
Price is 30 BTC.
can you post how the last contract went?
The return on hardware investment (excluding electricity cost) is the same for someone who buys $500 worth of mining gear, or $50,000.
Yes, but with $500 worth of rigs (or rather, rig) you wont be earning anything 'worthwhile'.
With $50k of rigs (say ~30,000 mhash) you would likely be earning more from mining per month than working at a decent mid-level managerial position in a company.
While both people do get their investment back in time, $500 is peanuts in the big picture. $50k is a lot, even for relatively rich people.
Paying off that much hardware & gaining everything after that as pure profit after electricity is a very lucrative business.
The current contract expires today at 7:00PM EST.
Is anyone intrested in purchasing the next 7 days? I will garauntee 8,500 MH/s for the entire contract.
Price is 30 BTC.
Is anyone intrested in purchasing the next 7 days? I will garauntee 8,500 MH/s for the entire contract.
Price is 30 BTC.
What if he wants to mine even if he thinks the price is going to drop? Why wouldn't he, if he can still make a profit on it (and a larger one if he gets the BTC today, but the price drops before the contract ends)?
If the price goes up, he looses.If the price stays the same, he looses.
If the price goes down a little, he breaks even.
If the price goes down a lot, then he wins.
If the price is going to go down a lot, he'll make a much bigger profit by selling the hardware now.
There's clearly enough interest in mining contracts, especially moderately priced ones. I don't see the point in selling them at a loss. He could easily sell them for a small profit.
Selling now: $5000 in hardware
Selling in 7 days: $5000 in hardware + $246.22 in BTC.
I would agree with you that I don't see the point in selling them at a loss, but that's his choice. He'll still make money on it, and that's all that is important to him.
There is no way to know whether I am selling this contract at a loss until it is completed. My current contract was sold when BTC was $11.15/BTC.....today it is down to $8.9/BTC.
If the price continues to plummet, I will be better off having traded 30 BTC of declining value for 26 BTC @ $11.15. (Yes, I sold them).
I really hope this is the last time I have to explain this. Questioning why I am "selling at a loss" is not only the wrong question, it is somewhat ignorant.
What if he wants to mine even if he thinks the price is going to drop? Why wouldn't he, if he can still make a profit on it (and a larger one if he gets the BTC today, but the price drops before the contract ends)?
If the price goes up, he looses.If the price stays the same, he looses.
If the price goes down a little, he breaks even.
If the price goes down a lot, then he wins.
If the price is going to go down a lot, he'll make a much bigger profit by selling the hardware now.
There's clearly enough interest in mining contracts, especially moderately priced ones. I don't see the point in selling them at a loss. He could easily sell them for a small profit.
Selling now: $5000 in hardware
Selling in 7 days: $5000 in hardware + $246.22 in BTC.
I would agree with you that I don't see the point in selling them at a loss, but that's his choice. He'll still make money on it, and that's all that is important to him.
What if he wants to mine even if he thinks the price is going to drop? Why wouldn't he, if he can still make a profit on it (and a larger one if he gets the BTC today, but the price drops before the contract ends)?
If the price goes up, he looses.If the price stays the same, he looses.
If the price goes down a little, he breaks even.
If the price goes down a lot, then he wins.
If the price is going to go down a lot, he'll make a much bigger profit by selling the hardware now.
There's clearly enough interest in mining contracts, especially moderately priced ones. I don't see the point in selling them at a loss. He could easily sell them for a small profit.
No wonder you have a waiting list. You are selling contracts at a loss. Why??? For 30 BTC your farm will generate 33 BTC, since there's virtually zero chance of difficulty changing significantly in the coming week.
Ahhh, but what if the exchange rate is cut in half by next week?
We discussed this earlier in the thread.....pretty straightforward.
No wonder you have a waiting list. You are selling contracts at a loss. Why??? For 30 BTC your farm will generate 33 BTC, since there's virtually zero chance of difficulty changing significantly in the coming week.
Ahhh, but what if the exchange rate is cut in half by next week?
We discussed this earlier in the thread.....pretty straightforward.
No wonder you have a waiting list. You are selling contracts at a loss. Why??? For 30 BTC your farm will generate 33 BTC, since there's virtually zero chance of difficulty changing significantly in the coming week.
Ahhh, but what if the exchange rate is cut in half by next week?
We discussed this earlier in the thread.....pretty straightforward.
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