Mining scrypt and especially Guldencoin is a money eater atm. So if you give me a miner, I won't use it. The idea of permanent mining using proceeds out of SHA to reinvest in mining Guldencoin is great.
That makes no sense to me:
The average Bitcoin (SHA) miner takes probably 2 years to break even, after which it is already close to obsolete, so its basically just an inefficient way of renting with more variables that can go wrong may as well rent directly.
Some basic things that can go wrong:
a) Massive increase in Bitcoin hashrate - now you are making a loss and can afford less hash than if you just rented directly.
b) Drop in Bitcoin price - returns much lower than expected
This is before even getting into things like George potentially running off with the money or the Bitcoin miner.
If the BTC mining were massively profitable then maybe it would make sense, though all the extra risk factors still make it somewhat dicey, so far I haven't even seen an answer on how much SHA hash we are talking, it would have to be a lot of hash to actually make this more profitable (or less of a loss) than mining directly would be...
What I personally would like to see is some basic sums, showing how much the expected BTC income is going to be and that this is somehow better than just using the money to rent directly.
If you really believe renting is going to be more profitable (or less of a loss) than purchasing Scrypt miners then maybe what should be done here is negotiating a really long term rental contract and avoiding the extra step of mining Bitcoin (which from what I can see - though maybe I miss something - just adds extra complications and complexity)
If mining scrypt is such a money eater that you wouldn't run one even if you were given it, then renting it will be just as bad if not worse. It isn't suddenly going to be profitable just because there is an extra step involved.
That renter needs to pay for the same electricity *and* still make a profit from the rental, and the profit has to be larger than he would get from mining himself or else he would just mine himself. Sure he may be in a country where electricity is cheaper, but then maybe what we should be looking for then is someone who can host actual bought Scrypt miners in a country with cheap electricity...
Anyway just my opinion, people are free to make up their own minds.
People buy Guldencoin out of the pre-mine with Bitcoin at a rate of 500 sat. No sell pressure for sure imo.
I was replying to SuicidalTendencies who wanted to buy scypt miners using the premine - nobody is going to sell scrypt miners for NLG so it would create a huge sell pressure, unless a similar scheme of 'reimbursing' people who bought for BTC or similar is followed instead of buying it directly with the premine...