Topic: Mining contract: raw RPC mining, or zero-variance delivery - page 2. (Read 4214 times)

maybe he's buying coins daily from the market, no need for him to "truly mine" them.

we should be glad that here's one more service-offer for bitcoins, instead of dollars, isn't that exactly what the bitcoin-economy needs?

and what's the point in converting dollars to bitcoins by leasing hardware and wait for months,
if you can buy them cheaper within a few days (if it takes that long to transfer your dollars to LR- , or MTG-dollars)?
 

Where are you seeing .82? I'm seeing .88 and up on MtGox.

Are you guaranteeing truly minted coins, or are you just sending the same coins back to the buyer?

And what is the point in converting Bitcoins into Bitcoins? I can see the point in leasing hardware to convert Dollars to Bitcoins.

I operate a mining cluster, and offer selling mining capacity at a price of: 2.48 BTC per Ghash/s per day (valid from May 27 00:01 UTC). The price changes frequently, so check with me frequently. Email me at [email protected]

Rent this mining capacity for any number of days, from 1 to 365 days. Yes, you can rent 10 Ghash/s for just 1 day, if you want so.

The minimum purchase quantity is 1 Ghash/s. I currently have over 20 Ghash/s available.

You decide to receive the Bitcoins in 1 of 2 ways:

• Zero-variance contract. Either you provide a Bitcoin address to which an amount of Bitcoins is delivered on a daily basis. This amount is calculated statistically from the purchased mining power and the current difficulty. This is known as a "zero-variance" contract.
• JSON-RPC mining service. Or you provide a Bitcoin JSON-RPC endpoint of your choice (eg. http://host:8332, authenticated with a user/password) to which I connect my miners.

FAQ:

Q: Buying Bitcoins from the market is cheaper! Why do you offer this service?
A: I will be the first mining contractor to admit openly that, yes, it is cheaper to buy from the market. However, some users value freshly mined coins more than "used" coins on the market. I do this cheaper than any existing mining contractor such as BitcoinRigs, or vladimir. Also, a raw RPC mining service is particularly useful in certain cases, see jgarzik's venture below.

Q: Are you guaranteeing truly minted coins?
A: Yes. You may check the coins origin using blockexplorer.com when you receive them. They will originate from blocks of freshly mined Bitcoins, then travel through at most 1 or 2 wallets/keypairs throughout my infrastructure, before they are sent to you.

Q: What is the point in converting Bitcoins into Bitcoins?
A: There is demand for it. Users have asked the existing mining contractors (BitcoinRigs, vladimir) if they could purchase mining power in Bitcoins, but they do not do it. My service fills this demand!