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yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: CoinLab on December 04, 2012, 01:49:08 PM

Quote from: yochdog on December 03, 2012, 10:56:29 PM

Quote from: CoinLab on December 03, 2012, 08:27:48 PM

Quote from: CoinLab on August 09, 2012, 06:08:19 PM

Loyalty Points are not transferable.

Sorry to be a naysayer, but selling Loyalty Points to other users is against our terms.

If you're interested in selling your Loyalty Points to us below expected value at current difficulty and BTCUSD rate (less than 28%), send us a PM though, we might be able to work something out.

DAMN!

would I be allowed to merely give them the credentials, let them mine, then pass on the earnings?

Just hypothetical.....don't want to step on any toes......

For legal reasons, we can't let anyone transfer them. If we knowingly allow people to transfer, it could cause our entire loyalty point system to become classified as open loop prepaid access, which would require us to jump through a ton of legal hoops and make us need to follow a bunch of regulations. We would likely need to AML every single miner, which we do not want to do.

Sorry to disappoint you, but we just can't allow transfers.

No worries! Thanks for the clarification, you guys are awesome.

CoinLab

sr. member

Activity: 270

Merit: 250

1CoinLabF5Avpp5kor41ngn7prTFMMHFVc

Quote from: yochdog on December 03, 2012, 10:56:29 PM

Quote from: CoinLab on December 03, 2012, 08:27:48 PM

Quote from: CoinLab on August 09, 2012, 06:08:19 PM

Loyalty Points are not transferable.

Sorry to be a naysayer, but selling Loyalty Points to other users is against our terms.

If you're interested in selling your Loyalty Points to us below expected value at current difficulty and BTCUSD rate (less than 28%), send us a PM though, we might be able to work something out.

DAMN!

would I be allowed to merely give them the credentials, let them mine, then pass on the earnings?

Just hypothetical.....don't want to step on any toes......

For legal reasons, we can't let anyone transfer them. If we knowingly allow people to transfer, it could cause our entire loyalty point system to become classified as open loop prepaid access, which would require us to jump through a ton of legal hoops and make us need to follow a bunch of regulations. We would likely need to AML every single miner, which we do not want to do.

Sorry to disappoint you, but we just can't allow transfers.

Jack1Rip1BurnIt

sr. member

Activity: 350

Merit: 250

Trust me, these default swaps will limit the risks

Ouch! That must sting. Never cool when your girlfriend catches you playin' with your pecker, unless she's nice and offers to give you a hand. Take the deal Grin

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: CoinLab on December 03, 2012, 08:27:48 PM

Quote from: CoinLab on August 09, 2012, 06:08:19 PM

Loyalty Points are not transferable.

Sorry to be a naysayer, but selling Loyalty Points to other users is against our terms.

If you're interested in selling your Loyalty Points to us below expected value at current difficulty and BTCUSD rate (less than 28%), send us a PM though, we might be able to work something out.

DAMN!

would I be allowed to merely give them the credentials, let them mine, then pass on the earnings?

Just hypothetical.....don't want to step on any toes......

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: CoinLab on August 09, 2012, 06:08:19 PM

Loyalty Points are not transferable.

Well there we go. Offer retracted.

CoinLab

sr. member

Activity: 270

Merit: 250

1CoinLabF5Avpp5kor41ngn7prTFMMHFVc

Quote from: CoinLab on August 09, 2012, 06:08:19 PM

Loyalty Points are not transferable.

Sorry to be a naysayer, but selling Loyalty Points to other users is against our terms.

If you're interested in selling your Loyalty Points to us below expected value at current difficulty and BTCUSD rate (less than 28%), send us a PM though, we might be able to work something out.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: superfastkyle on December 03, 2012, 04:58:03 PM

$1000 is way more than I would offer we don't even know that coinlab isn't a scam yet

They are already paying out on the points through their redeem pool. No one has claimed to be short-changed, and they have paid out every bitcent owed to miners leading up to the reward-halving.

Thank you for your input, Kyle. It was very useful.

superfastkyle

sr. member

Activity: 437

Merit: 250

$1000 is way more than I would offer we don't even know that coinlab isn't a scam yet

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: jamesg on December 03, 2012, 04:30:01 PM

Quote from: yochdog on December 03, 2012, 04:22:30 PM

Quote from: jamesg on December 03, 2012, 03:56:01 PM

I'll offer $1k.

no. thanks!

Well, doing a bit more maffs, it seems that if you just mine, right now, you'd make about $1.80/Gh/day. Coinlab is offering $2.50/Gh/day.

So.....

(1 - 1.8 / 2.5) * 7,083.39 == $1,938.3492

is the value these loyalty points are worth over just mining, at this moment. There is inherent risk in this though if the price of BTC increases dramatically or if difficulty falls. So my offer of $1k both seems reasonable and fair.

I'll let the offer stand for another 24 hours in case you'd like to reconsider.

I laughed at this.....sorry, but I could not help myself. Yes, it is possible.....but so is drowning in a 5 gallon bucket.

The value is much higher when you do a NPV calculation with even a VERY conservative assumption on future difficulty. Your calculation is way too static.

No need to leave your offer on the table, it is kindly rejected (again).

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

Quote from: yochdog on December 03, 2012, 04:22:30 PM

Quote from: jamesg on December 03, 2012, 03:56:01 PM

I'll offer $1k.

no. thanks!

Well, doing a bit more maffs, it seems that if you just mine, right now, you'd make about $1.80/Gh/day. Coinlab is offering $2.50/Gh/day.

So.....

(1 - 1.8 / 2.5) * 7,083.39 == $1,938.3492

is the value these loyalty points are worth over just mining, at this moment. There is inherent risk in this though if the price of BTC increases dramatically or if difficulty falls. So my offer of $1k both seems reasonable and fair.

I'll let the offer stand for another 24 hours in case you'd like to reconsider.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: jamesg on December 03, 2012, 03:56:01 PM

I'll offer $1k.

no. thanks!

jamesg

vip

Activity: 1358

Merit: 1000

AKA: gigavps

I'll offer $1k.

yochdog

legendary

Activity: 2044

Merit: 1000

[/s]Hey all,

I have accumulated a SUBSTANTIAL amount of coinlab loyalty points, but I have no desire to cash them in yet. I would however like to monetize them, and let someone else with higher costs extend the life of their farm.

I am not sure what an appropriate price is, but I am thinking maybe a 15% discount to their value of $0.00012427 PPS.

57,000,000*$0.00012427 PPS = $7,083.39

Let me know if anyone has interest in this.

Topic: NM (Read 892 times)