Bitcoin Forum

Hello I posted an investment plan but did not get any interested people, so I need someone to loan me 2 blocks of bitcoins and I will repay you with 3 blocks as soon as my mining rig gets setup, the rig I am looking at building will do about 1.6 ghash/s this will get one to two blocks per month according to the calculator.  So this will be about a 2 month investment and you will profit greatly.  If interested post here and if I have more than one offer I will take the best one like if one person says I will do it for only a half block interest or something like that.

EDIT:
Now this is the deal still 2 bitcoins.  But you get part of the profit for 6 months after I pay you back the 3 blocks.  The percent you get for 6 months you can send me an offer.

You're probably not going to find too many people interested in this idea. There's just too much risk in starting a mining rig this late in the game.

Oh and the other thing is that if people have that much money to loan AND they believe that mining is going to be profitable... why wouldn't they just buy their own rig??

Did you account for the new difficulty that hit this morning in your calculator?  its now taking about 30% longer to find a block after about 7am UTC this morning.

Yeah i figured that it would not have a lot of interest because I am so late to the game :(

Yes I used the new 500k via the calculator and that was the result i got.

Have you taken into account the diff withing the next weeks as well? one month is enough the diff to increase by 90% more.

yes but however i had no idea it was 90% harder in the next month.

Before this last difficulty increase of 20% of so, we had one that was 80% in one jump. And 60% before that. That was within the span of...two weeks?

not to sound like a jerk but you are telling me that unless i have a 10 ghash/s i will only get like one block per month?  also is it possible for difficulty to go down?

No.

25% increase hit after 11 days. 75% increase hit after about 8 days, 60% about 9 days. that's roughly a month.

LOL at "late in the game"

Either BTC is going to take off as an idea, in which case we are still essentially at Day 1 or it's not in which case it's just gonna crash and burn and most people won't realize their 100 bajillion BTC net worth anyway. Do you know how many people had millions of dollars worth of stock options in the dot com boom that were never ever realized?

But yes, doubtful anyone is going to loan money for mining -- they will mine themselves or buy shares in a mining company or pay for offsite Ghashes.

Lol I guess i'll never get a loan :'(

For sure no loan in BTC! ;)

Just go to a bank and ask for a credit for a new computer if you really need it... keep in mind however that you might not be able to pay it back with the earnings of Bitcoin mining. Ever.

Right, you would never give someone you don't know a cash loan. That wouldn't make sense.

Its not a cash loan its a bit coin loan.

Bitcoins are basically internet cash. Which is one of the reasons it is growing more popular.

Like cash, all transactions are non-reversible.

Depends on your definition of late. On 1 or 2 ordinary graphics cards like 5770, probably. On 1.5ghash or more I say go for it at the moment.

Though if price doesn't keep up with rapidly rising difficulty, even 10ghash/s wont be profitable in a few months so difficulty will probably drop at some point either way.

You can buy a rig now and put it dormant once it becomes unprofitable, wait for BTC value to rise or difficulty to lower.

My setup will have over 15 ghash and no i think im pretty early considering that this is brand new and most people do not even know what a bitcoin is.

"This heres a story about billy joe and bobbie sue
Two young lovers with nothin better to do
Than sit around the house, get high, and watch the tube
And here is what happened when they decided to cut loose

They headed down to, ooh, old el paso
That's where they ran into a great big hassle
Billy joe shot a man while robbing his castle
Bobbie sue took the money and run

Go on take the money and run
Go on take the money and run
Go on take the money and run
Go on take the money and run"

......

Wow honestly would I take 1400$ and run when I could make 140k with bitcoins?

It will require semi-professional planning though, even if you run it in some basement.

I have max. capacity 16ghash/s and already down by 2 due to random hardware failures and waiting for RMA's.
Failures do happen statistically even if your operation is perfect (clean 80+gold PSU's, well ventilated, etc.)

Every day a part of the system is down you lose money. So a faulty ram stick or DOA gpu can become very expensive over 24 hours.

I meant to say 1.5 to 3 g/hash per second not 15 do not have that much money lol.  As for the loan please someone help me out.

just buy what you can afford. In this stage, even .5/day is pretty good. I just bought two 5830's that should get be around 200-300mh/s a pop. Probably closer to 250 or so but still. 500mh/s is pretty good to start with.

OR you can do another thing - just buy BTC and hold onto them for later.

If you can't afford it... you can't afford it ;)

Yeah i guess.

Anyone want to invest?