Topic: Worlds Most Economical Bitcoin Mining Contracts! - page 2. (Read 11976 times)

I know you understand what we trying to tell you, but you still keep on trying to explain something that is not important at all. Price in $ doesn't matter, only the amount of bitcoins you end up with in the end matters. If a person rents a rig from you, they end up with less bitcoins. Your prices are not competitive because whoever rents a rig from you ends up with 50% less bitcoins when the contract end.

How is that competitive? Unless you want compare it another guy that offers SAME BUSINESS THAT MAKES NO SENSE. That doesn't make it any less STUPID.

You, Vladimir and whoever else is offering this kind of service, needs to get more creative and come up with something that makes sense. Or else you just throwing a bad light on the whole bitcoin community, because you are after dumb people who can't add 1+1 on their own while in the meantime you insulting everyone else with stupid excuses that your service is somehow viable. Everyone except rare few knows it doesn't make any sense what so ever, but they just don't bother telling you that 1232 times.

sorry, double post

how much would a 25Ghash/s 3month contract cost? i've simulated the price which a serious server housing company would take for this. 4x 16 amps 230V, 1x 40HE rack incl. 16kW cooling and security.

It doesn't matter how you explain it to us.
In the end there is profit, for you...

If a person wants to make profit on Bitcoins he better buys BTC now... Lower cost, same risk...

nebiki - Most clients with this Mining contract want A lot more than 1Ghash Per month, which is exactly right if you where running 4 or more rigs etc.

We have custom contracts if you read on the site, the small list of contracts are for people who just want to try out mining, but the real Mining Contracts are 5Ghash+

at 180 eur per 6950 which produce about 400Mhash/s each, it's 540eur for 1.2Ghash/s plus another 250 eur for psu+board+cpu+ram. 800 eur for the rig. it consumes about 700W, which is 1500kWh for running it for 3 months. we pay 0.23 eur per kWh (VERY different in the united states, at about 7-8 eurocents). so the rig including running it for 3 months costs 1150 eur. that's 1550 AUD. if you pay 8 eurocents per kWh, that's just a little bit more than 1200 AUD. oh - and it's 1.2Ghash/s, that's even more than 1.

edit: imagine 6 months.

this service is too expensive for anyone who wants to buy just 1-3 Ghash/s. because you can easily set them up at home without having to worry about anything. it becomes a different matter when we're talking about 4+ rigs, which is rather complicated to setup and maintain. you can't just have them stand in your basement without additional cooling. that's when i would want to find a service which houses my computers at a decent cost.

Are you guys Miners? We are!

If you do the price based on $15 now, few days time it maybe $13, next week it maybe $5 or it could be $50.

So, our prices are very competitive for this market, what does it cost you to build a machine with 1Ghash and run it for 3 Months??

i don't need to do any research to understand that these services are basically some people desperately trying to make some money without having to worry about anything. there's just no reason to sell mining power. if it was profitable for your customers, why wouldn't you do it yourself? because there's a risk which you don't want to take. you throw this risk at your customers and are safe yourself, because you have already been paid. this in itself is wrong, considering these prices it's even worse.

Hi,
Can you explain me something here?...:

If I buy from you MC-100      1000 Mhash    $390 Per Month
I will pay you 390$

Difficult factor is: 1379223.42967
Hash Rate (mega-hashes / second): 1000
Exchange Rate ($/฿): $15

for 1 month i will make: $332.54

so i will pay you $390 and will make $332.54 = i will lost $57.46

What is the reason that will convince me to lost $57 ?

And this is in current difficult. It will be change after few days so in fact i will make more less than $332.54 that mean more loses for me.

"$1200 for 75 bitcoins right now"
Your mining contract might be desirable to the other math literate party is if:

You can guarantee more than 75 bitcoins (you specify the guaranteed amount) after 3 months, for $1200 cash given to you right now, upfront.
or
You can guarantee 75 bitcoins after 3 months for a payment of (($1200/3)+$X) paid to you per month for 3 months.  $X would be the premium or the interest someone is paying you for a payment plan to end up with 75 bitcoins in 3 months because they can't afford to spend $1200 right now to buy 75 bitcoins, but they still want to end up with 75 bitcoins after 3 months.

I'm not hating. I'm pointing out that renting a rig from ANYONE to mine is outright STUPID and people in this thread demonstrated why.  Let me try it again. LOL.


If a person wants to contract 1 Gh from you, he needs to pay you $1200 US dollars up front.  When the 3 months are up  his final product is  XY of bitcoins. ONLY bitcoins. Right now he could buy 75 BTC with the same $1200 US dollars he needs to wire to you to rent a rig from you. When 3 months are up, the guy that rented rig from you will end up with a lot less bitcoins in 99.99999% of the time. Probably around 50 BTC instead of 75 BTC if he would just buy it on the exchange.

The end result after 3 months is same product. Bitcoins, and in the case he would rent a rig from you he will end up with a lot less bitcoin product. Simple as that. BTC price at that time doesn't matter because he COULD already buy 75 BTC on the day he would pay you $1200 to rent a rig from you.

Why would anyone want to have 50 BTC in 3 months time if they CAN have 75 BTC right now and in 3 months time for the SAME AMOUNT OF CASH .. 50% difference for same amount of fiat currency.


This is not hating. This is simple math. Your explanations how some wants to buy bitcoin and others want to mine makes no sense, because the guys that rent your rig don't mine, they get end product - bitcoins. It's just that unfortunately they get 50% less then they would if they would just buy it for $1200.

The fact that others are offering same type of business for EVEN more  doesn't change anything. This is a stupid business aimed at people who doesn't understand the simple math behind it.  

You keep dodging the math question.  There's a big difference with Vladimir contracts because he started them in Jan when bitcoins were less than $1 per bitcoin.  You'll get more customers if you can mathematically demonstrate why buying a mining contract with you is more beneficial than buying bitcoins outright.

It's personal choice and personal opinion of customers!

Some people want to just buy bitcoins, Some people want to mine them without any effort.

Look at competitors rates and do the math on Rig Rentals and Mining Contracts, there are a lot out there now.

 

No haters, we just want mathematical proof why purchasing a mining contract would be more beneficial than just buying BTC outright.
If you can't prove it mathematically, there's no benefit.

Big Time Coin - Much Appreciated Thankyou!

There will always be haters, no matter what. It makes me laugh!

Thanks Again for the support !

From me, of course. I have over 500k of Bitcoin mining equipment and I can afford to give away 1,000 Bitcoins to a random person a day! 

Hey, I just want to post to support you for setting up a company to do mining contracts to compete with Vladimir.  You are offering a much lower price.  It's too bad there are so many people trying to bash you and discourage people from using your service.  I think it has more to do with people trying to discourage new miners than it does your service in particular.  Good luck!   

What's the source of this?

nebiki - LOL no scams here, do some research on Rig Rentals and Bitcoin Mining Contracts!

Use google and do some research first!

i've already said this in vladimir's thread. for 1200AUD you can get a 6990 and a 6950 which produce more than 1Ghash/s, keep them running for 3 months(electricity cost) and you can even keep the cards. if you're interested in the btc economy itself, read some post above mine, someone said that buying the coins directly would be the way to go. this "contract" is scam. anyone who buys it needs some serious treatment.


that's the only cool part, but i doubt they'd actually do it for decent prices.

edit

lol.