He pm'd me earlier (John, it's lendee rather than lender - the lenders know what we're like).
Sensible approach - looking to establish credibility. Watching for now.
Topic: Monthly loans for farm expansion - page 2. (Read 2697 times)
How many coins per month are you pulling in?
Seems more legit then other lendees lately.
edit: lendees not lenders, thanks Patrick!
edit: lendees not lenders, thanks Patrick!
I currently mine for BTCGuild although as I scale out I will need to look in to either solo mining or mining for a pool with fewer/no fees. Need to cut out that 5% loss that I currently suffer with BTCGuild. Have you any suggestions?
Is your pool able to provide some type of verification that you are mining within a reasonable expected rate for those cards? (graphs showing MH/s over time, which is available for us to view would be great!)
This was the original post. Archiving to the second post.
With the cards inbound and the existing cards this should put me somewhere in the 7-8 GH/s range. That, at current difficulties is just a tad over 5 BTC/day.
Since I have zero reputation within the BTC community, I'd like to start small and gradually work my way to the point where I am funding large scale expansions of this farm. Eventually I'll be shifting over to FPGA builds as I close in on the power cap of the building and my own ability to pay the power bill between cycles of selling BTC.
Ideally I'd be looking at loans starting near the middle of the current month and ending near the middle of the following month. This would give me time to assemble the inbound hardware and have it mine towards the loan principle and interest. Loan sizes would be slightly underneath the total BTC capable of being mined within a 1 month period so that the existing hardware will fund the principle and the inbound hardware would fund the interest. Excess coins would be saved for the next expansion or sold to cover rent/power.
I believe that covers it. I've been warned there'll be a fair share of trolling due to my noob status within the community so.. bring on the trolls.
Q/A:
How can we trust you?
I'm a supermod over at XtremeSystems -> link to profile
I have a relatively inactive heatware account. Still shows a long history of good sales. -> link to account
If you need more evidence I can provide it. Those two should be a good start.
Why not get a loan from a bank?
Banks don't accept BTC. By funding through the BTC community I can receive small loans very quickly that will fit the expansion schedule that I expect to maintain for this summer. Short of a massive spike in difficulty within one of the loan periods, I will be able to cover the loans and interest from the output of the mining operation.
Why not invest in a mining coop?
I like mining as a hobby. The logistics around running such a setup and wringing out every bit of efficiency out of the hardware is a bit cathartic after spending years overclocking hardware for raw MHz. I'm just trading a shockingly large liquid nitrogen bill for an equally large electricity bill.
Why not start with FPGAs?
MH/$ is currently too low. I plan on sucking up cheap 5830s at ~2.7 MH/$ and reasonable 5970s at ~2.2 MH/$ to quickly expand my income while I wait for 22nm based FPGAs to hit the market in Q4/2012-Q1/2013. Once that happens I'll likely liquidate my GPU farm and roll the proceeds in to a FPGA farm hosted in my residence.
If any other interesting questions pop up I'll append them to this.
With the cards inbound and the existing cards this should put me somewhere in the 7-8 GH/s range. That, at current difficulties is just a tad over 5 BTC/day.
Since I have zero reputation within the BTC community, I'd like to start small and gradually work my way to the point where I am funding large scale expansions of this farm. Eventually I'll be shifting over to FPGA builds as I close in on the power cap of the building and my own ability to pay the power bill between cycles of selling BTC.
Ideally I'd be looking at loans starting near the middle of the current month and ending near the middle of the following month. This would give me time to assemble the inbound hardware and have it mine towards the loan principle and interest. Loan sizes would be slightly underneath the total BTC capable of being mined within a 1 month period so that the existing hardware will fund the principle and the inbound hardware would fund the interest. Excess coins would be saved for the next expansion or sold to cover rent/power.
I believe that covers it. I've been warned there'll be a fair share of trolling due to my noob status within the community so.. bring on the trolls.
Q/A:
How can we trust you?
I'm a supermod over at XtremeSystems -> link to profile
I have a relatively inactive heatware account. Still shows a long history of good sales. -> link to account
If you need more evidence I can provide it. Those two should be a good start.
Why not get a loan from a bank?
Banks don't accept BTC. By funding through the BTC community I can receive small loans very quickly that will fit the expansion schedule that I expect to maintain for this summer. Short of a massive spike in difficulty within one of the loan periods, I will be able to cover the loans and interest from the output of the mining operation.
Why not invest in a mining coop?
I like mining as a hobby. The logistics around running such a setup and wringing out every bit of efficiency out of the hardware is a bit cathartic after spending years overclocking hardware for raw MHz. I'm just trading a shockingly large liquid nitrogen bill for an equally large electricity bill.
Why not start with FPGAs?
MH/$ is currently too low. I plan on sucking up cheap 5830s at ~2.7 MH/$ and reasonable 5970s at ~2.2 MH/$ to quickly expand my income while I wait for 22nm based FPGAs to hit the market in Q4/2012-Q1/2013. Once that happens I'll likely liquidate my GPU farm and roll the proceeds in to a FPGA farm hosted in my residence.
If any other interesting questions pop up I'll append them to this.
Please see the second post of this thread for the full story. The first post now contains records of current and past loans and current and inbound hardware.
I currently have the following hardware running:
14x HD 5830 generating 4300 MH/s
5x HD 5870 generating 1800 MH/s
4x HD 5850 generating 1300 MH/s
4x HD 5970 generating 2800 MH/s
1x HD 6870x2 generating 600 MH/s
Total: ~10800 MH/s.
I have the following inbound as of April 28th:
Gigabyte 990FXA-UD5
AMD reference socket AM3 CPU heatsink
Parts in stock:
4x HD 5970
2x HD 5850
Maximus IV Gene-Z + 2600K
~3500 MH/s.
Loans requested:
March:
April:
May:
Loans acquired:
162 BTC from anonymous. Acquired April 9th. 183 BTC to be paid by May 23rd.
Loans repaid:
50 BTC from IBM. Acquired March 19th. 55 BTC to be paid by April 20th.
I currently have the following hardware running:
14x HD 5830 generating 4300 MH/s
5x HD 5870 generating 1800 MH/s
4x HD 5850 generating 1300 MH/s
4x HD 5970 generating 2800 MH/s
1x HD 6870x2 generating 600 MH/s
Total: ~10800 MH/s.
I have the following inbound as of April 28th:
Gigabyte 990FXA-UD5
AMD reference socket AM3 CPU heatsink
Parts in stock:
4x HD 5970
2x HD 5850
Maximus IV Gene-Z + 2600K
~3500 MH/s.
Loans requested:
March:
- 50 BTC to fund two HD 5830s from a lot I am purchasing.
- Receive 50 BTC on 20th of March.
- Pay 55 BTC on the 19th of April or earlier. Repaid as one lump sum.
- Fulfilled.
- Paid.
April:
- 162 BTC to fund a 2x HD 5970 rig.
- Received 162 BTC on 9th of April.
- Pay 183 BTC on the 23rd of May or earlier. Repaid over two payments.
- Fulfilled.
May:
~200 BTC to fund 2x BFL Singles.Will line up funding early May. Plan to order the singles by mid May if BFL delivers their rev 3 Singles by then.If BFL fails to deliver rev 3 Singles I will invest in another 1.5 GH/s of GPUs.
- Funding from outside the BTC community was sourced. Future BTC loans are currently not needed.
Loans acquired:
162 BTC from anonymous. Acquired April 9th. 183 BTC to be paid by May 23rd.
Loans repaid:
50 BTC from IBM. Acquired March 19th. 55 BTC to be paid by April 20th.
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