Mining Contracts - page 2. | Bitcointalksearch.org

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: j0b314 on December 09, 2013, 02:27:18 AM

Just wanted to add the bit mining company to the list
Started yesterday and happy with its ease of use. Entry point is not bad at .051btc.

0.051 BTC per GH/s is better than cex.io, but it still costs more than you will mine in 4 years, especially with the 8% fee.

Edit: 0.51 -> 0.051

j0b314

newbie

Activity: 21

Merit: 0

Just wanted to add the bit mining company to the list - http://bit-mining.co/ .*

Started yesterday and happy with its ease of use. Entry point is not bad at .051btc. Good for folks starting up on contract mining, registered in a few mins and started hashing away.

Surprised it's not getting as much attention here in BTCtalk, so spreading the word.

*yep referral link. Just in case.

byteminr

sr. member

Activity: 574

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CryptoTalk.Org - Get Paid for every Post!

Quote from: briehost on October 09, 2013, 10:31:07 AM

Do any of these services allow you to point to the pool of your choice? Diff 1 shares are a crude estimate but I think probability would smooth out given a large enough hashrate or enough time, also I imagine you would have to trust the pool Tongue

We will be adding this as a feature to our virtual rigs as soon as we can.(Hopefully) within a month.

www.byteminr.com

crudpuppy

full member

Activity: 224

Merit: 100

Yeah the idea of contracts is great just haven't seen any implemented other then to screw their customers. CEX.io is not a contract selling site but instead straight buy a ghs with BTC and sell it back to other users at anytime tracked just like say LTC to BTC and back basically. Prices flux a lot not sure about trying to make BTC buy and selling but I like putting some of my mining profit in here to add more GHs to my overall mining so some real at home and some virtual with cex.io

briehost

member

Activity: 79

Merit: 10

Quote from: fattypig on October 09, 2013, 07:57:47 PM

Apart from avoiding the headache to having to maintain the machine, place to put, baby, noise and heat is also one of the concern (at least for me).

Indeed, if properly implemented I do see this as something which could be very valuable for the community, at least those who do not want or know how to maintain such a machine. Some issues may be the further centralization of mining (although in physical terms more than payout terms), however I think it will help level out the demand of mining equipment vs. the demand for bitcoin in fiat terms. I believe that this overall will lead to more stable growth in mining and a true representation of the value of mining itself.

fattypig

full member

Activity: 224

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Quote from: briehost on October 02, 2013, 11:12:04 AM

Hey everyone,

With the advent of ASICMiner selling shares, I have been seeing a lot of Mining Contracts lately. I remember seeing them before but it seems to have become a lot bigger with ASICMiner on the scene. I have seen cex.io ads here on BitcoinTalk, which is selling contracts through ghash.io. I have even have found mining contracts for sale on ebay.

I have spoken with some people on the matter and a lot are interested in the idea of getting a constant payout over a period of time without needing to maintain machines, but I wonder if this is the only reason people are interested in such deals. It certainly seems like avoiding the headache of having to maintain machines yourself is a big plus, but why not just buy into Bitcoin?

I would like to get a feel for the hash brokering economy so I would like to ask you all the following

Are you interested in mining contracts? Why?
Have you used any services such as cex.io? Are you happy?
Have you seen any scrypt mining contracts offered?
Do you think there's an interest in mining contracts? Why?
Who do you think is the main consumer of such products?

These are just questions to start the discussion, I am very interested in seeing what everyone thinks!

Apart from avoiding the headache to having to maintain the machine, place to put, baby, noise and heat is also one of the concern (at least for me).

briehost

member

Activity: 79

Merit: 10

Yeah that's what it seems like. Just wanted to confirm. Thanks

crudpuppy

full member

Activity: 224

Merit: 100

Don't know about the "contract" companies as most seem to be scammish to me but cex.io is a no you point to ghash.io period.

briehost

member

Activity: 79

Merit: 10

Do any of these services allow you to point to the pool of your choice? Diff 1 shares are a crude estimate but I think probability would smooth out given a large enough hashrate or enough time, also I imagine you would have to trust the pool Tongue

JWU42

legendary

Activity: 1666

Merit: 1000

Quote from: crudpuppy on October 08, 2013, 08:09:36 AM

Nah, I meant to do any sort of system around it. The only way in given system to "resell" their hashing would be manual for you and blind for the shareholders as there is no way they could see their hashing nor anyway to at all automate your purchasing or assignments.

The least that would be needed to resell would be a way to expose hashing information to shareholders. Who would want to own hashin they can't even see production from just an occasional bitcoin payout.

Not you, but that doesn't mean your views represent everyone Wink

Ultimately trust in the miner/seller is paramount. Transparency would alleviate some of the trust issues as you point out...

crudpuppy

full member

Activity: 224

Merit: 100

Nah, I meant to do any sort of system around it. The only way in given system to "resell" their hashing would be manual for you and blind for the shareholders as there is no way they could see their hashing nor anyway to at all automate your purchasing or assignments.

The least that would be needed to resell would be a way to expose hashing information to shareholders. Who would want to own hashin they can't even see production from just an occasional bitcoin payout.

JWU42

legendary

Activity: 1666

Merit: 1000

Quote from: crudpuppy on October 07, 2013, 06:02:21 PM

Quote from: JWU42 on October 07, 2013, 12:39:07 PM

I have seen a "shareholders" option in the ghash.io settings. It seems you can set up multiple names/BTC addresses with a % output. Not sure if the output is based on a worker or total?!?

That is kinda cool Cool

Its not real beneficial without an api though.

Beneficial for whom? The shareholders?

crudpuppy

full member

Activity: 224

Merit: 100

Quote from: JWU42 on October 07, 2013, 12:39:07 PM

I have seen a "shareholders" option in the ghash.io settings. It seems you can set up multiple names/BTC addresses with a % output. Not sure if the output is based on a worker or total?!?

That is kinda cool Cool

Its not real beneficial without an api though.

MerchantMiner

newbie

Activity: 56

Merit: 0

Quote from: odolvlobo on October 07, 2013, 03:29:27 AM

Quote from: crudpuppy on October 02, 2013, 12:30:54 PM

For example:
https://www.cloudhashing.com/contracts/
See the revenue reinvestment? that is a portion of your money they use to build their infrastructure.
for full details on that and other "management fee" that their contract page wont mention:
https://www.cloudhashing.com/terms-conditions

"(a) We collect 10% of the Product as a management fee for operation of the Pool and associated activities (including hosting and power costs)
(b) We collect 30% of the Product (the “Reinvestment Product”) which is then reinvested into additional or replacement Bitcoin Mining Hardware at our sole discretion and in accordance with Clause 2.6.
(c) We collect the remaining Product which is then allocated proportionally to our Contract Holders according to their Capacity."

So you get (mined -10%)-30% = a lot less then it looks like on their contract pages :-)

This is a rip-off. Don't forget that they also collect 100% of your initial payment.

cloudhashing is one to avoid they want you to pay for there kit so when they have enough they will shut down the Public Front fuck you all off and then mine for them selfs , BEWARE of Mining Contracts ive seen a few scams out there already

JWU42

legendary

Activity: 1666

Merit: 1000

I have seen a "shareholders" option in the ghash.io settings. It seems you can set up multiple names/BTC addresses with a % output. Not sure if the output is based on a worker or total?!?

That is kinda cool Cool

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: crudpuppy on October 02, 2013, 12:30:54 PM

For example:
https://www.cloudhashing.com/contracts/
See the revenue reinvestment? that is a portion of your money they use to build their infrastructure.
for full details on that and other "management fee" that their contract page wont mention:
https://www.cloudhashing.com/terms-conditions

"(a) We collect 10% of the Product as a management fee for operation of the Pool and associated activities (including hosting and power costs)
(b) We collect 30% of the Product (the “Reinvestment Product”) which is then reinvested into additional or replacement Bitcoin Mining Hardware at our sole discretion and in accordance with Clause 2.6.
(c) We collect the remaining Product which is then allocated proportionally to our Contract Holders according to their Capacity."

So you get (mined -10%)-30% = a lot less then it looks like on their contract pages :-)

This is a rip-off. Don't forget that they also collect 100% of your initial payment.

Davyd05

hero member

Activity: 574

Merit: 500

Are there any numbers. or estimates on how much gh/s could be added via the reinvestment fees @cloudhash. I suppose it could be a marketing ploy but I thought it might benefit the buyer in the sense of at least somewhat of a small scale gain in gh/s to help perhaps break even sooner by not suffering from what I've read a continued speedy growth in % of difficulty as of late.

crudpuppy

full member

Activity: 224

Merit: 100

cex.io is basically trading in ghs rather then a set price for Xghs for X long like what I'm use to calling "mining contracts"

Personally I like this method didn't like contracts in part due to the fees.

semaster

sr. member

Activity: 395

Merit: 250

Quote from: btdir on October 02, 2013, 02:23:14 PM

who else is selling shares?

look at http://bit-miner.com for shares

btdir

newbie

Activity: 52

Merit: 0

who else is selling shares?

Topic: Mining Contracts - page 2. (Read 12277 times)