Topic: [NEW][Project] AltoBit l AltCoin Cloud Mining Faucet with Auto-payouts (Methods) (Read 531 times)

This is a project that tries to bring the benefit of cloud mining multiple altcoins (and BTC, would need testing) from a single payment.

Methodology
The following is explained as a sample payment would be processed by a theoretical payment processor..

1. An investor chooses to pay by (insert crypto-coin here) and "x" amount of that coin.
      - Depending on the currency, it will need to be exchanged to BTC by services like ShapeShift.io or Changelly..
      - If it is BTC, it can be directly added to the pool of funds.

2. After an investor pays AltoBit by some currency, it will be added to a pre-mining pool of funds
      - This pool will then automatically split the "x" amount of BTC into "y" amount of shares.
        (With each share having equal amounts of BTC.)
      - These shares are then directed to their respective mining contract (contracts for different algorithms/coins here)
      - Once the mining contract becomes fulfilled with the minimum shares required for mining, these shares are withdrawn from the pre-mining pool (as BTC) and are spent at popular cloud mining vendors like (Hashflare, Genesis Mining, etc.).

3. Once the cloud mining term has been initiated, the daily payments from the vendor/s will be directed towards a post-mining pool of funds.
      - When this post-mining pool of funds receives a daily payout from vendor "x", it will be divided into the many shares that have been allocated in the pre-mining pool.
      - These shares will later by paid out to the original investor in BTC..
      - If the investor chooses to receive payments in the original investment currency, it will be sent back to Shapeshift or Changelly for conversion.

Whats so special about this?
      - If implemented, it may become the most reliable daily paying faucet with real returns as advertised by popular cloud mining companies.

Any thoughts? Comments? Please let me know if this is a plausible thing to do.
Any help to make this idea come true or support is greatly appreciated.

Thank You for your time and consideration,
BitAlto

Contact:
[email protected]

Donations: 38MhA64nuJBdvSXdWnnYzDQoDava2DsPpN