Title: [ANN] Hashrate future contracts Post by: vmine on November 03, 2017, 09:42:35 AM Hi,
I am long time crypto enthusiasts , with some experience crypto mining and thought of the following idea/project. Please your opinions whether it is worth implementing and if it is physible. In order to support and extend the crypto mining industry by creating a marketplace for mining contracts that allows contributors and miners to exchange hashpower in an easy, safe, transparent and auditable way. We suggest to offer a standard ERC20 token[1], called vMine (e.g VMN), which will be the first hashrate-backed cryptocurrency. vMine token allows contributors to benefit from the high profitability of cryptocurrency mining and allows miners to hedge their risks by entering Smart Future Contracts in exchange to harnessing their mining power. Holding vMine means owning mining cloud with real hashpower without having to deal with physical mining hardware. vMine is also tradable, allowing contributors to easily open/close mining positions and strength the crypto mining industry. In practice, vMine virtualizes and tokenizes crypto cloud mining and produces high yields that miners currently enjoy due to its intrinsic value of hashrate. vMine is owned by its token holders and lives on Ether, producing revenues on regular basis and funding the project for eternity. Each vMine holder could receive the mining dividends on a monthly basis, earned coins can be auto traded in the dashboard to Ether, Bitcoin or USDT. Overview Cryptocurrencies mining industry have been very profitable with outstanding returns and a very short ROI for crypto miners. On the other hand, miners are exposed to many risks such as new hardware architecture, hashrate increase and high crypto-currencies volatility. These factors make future cash-flow prediction nearly impossible, especially when miners need to trade the mined coins to cover their costs and safely invest in future mining hardware. Bitcoin Mining Based on Bitcoin historical prices [2] and hashrate [3] we calculated the actual daily revenues for 1 Bitcoin Terrahash/s. https://s3-us-west-2.amazonaws.com/vmine/BTC+Prices.png The green line shows the average revenues of 1 Terrahash of the following 6 months for each specific date. Hardware cost is based on AntMiner prices [4] We can see that even despite the constant logarithmic rise in hashrate and volatility of Bitcoin price, Bitcoin mining was profitable and had average ROI of 1 year. Ethereum Mining Based on Ethereum historical prices and hashrate[5] we calculated the actual daily revenues for 1 Ethereum Megahash. https://s3-us-west-2.amazonaws.com/vmine/ETH+Hash+rate.png The blue line shows the average revenues of 1 Megahash of the following 6 months for each specific date. We can see that even despite the constant logarithmic rise in hashrate and volatility of ETH price, mining revenues fluctuated between 5-15 cents, and had average of 10 cents a day. The following graph shows the ROI period in days: https://s3-us-west-2.amazonaws.com/vmine/ETH+Prices.png The yellow line shows the projected ROI calculated by the ETH price and network hashrate at a given time. The green lines shows the actual ROI for any mining hardware purchase by aggregating the revenues of the next 180 days. We can see that Ethereum mining have an average actual ROI of 120 days. Realistic example of hashrate profitability Short-term loans are considered to be safest investment in the cryptocurrencies world. The average rate is daily interest of 0.05%, which adds up to annual return of 20%. Currently, mining rig of 168 MH/s (megahash per second) costs USD 2,252 and is expected to generate USD 7,630.04 in its first year[6]. This reflects an annual return of 338%. Unfortunately, Hashrate changes and volatile prices of cryptocurrencies affects the steadiness of the miner’s cash flow . Therefore, we would like to offer miners hedging that will stabilize their cash flow, while allowing contributors to take part in the profitable mining industry. We believe the gap between the expected returns of the miners and the contributors will work in two ways: Motivate contributors to contribute to the profitable mining industry and enjoy its high yields. Motivate miners to reduce their risks and ensure stable cash flow by selling the hashrate via smart contracts to people who love risk. Transparency
Goals Recent developments in Smart Contracts technology such as Ethereum and Rootstock [7], lays the foundations for trading the hashrate of all cryptocurrencies in a safe manner. We also believe that most currencies which don’t currently support smart contracts would adapt sidechains and smart contracts as well. Using smart contracts, we would be able to reduce miners’ risks by allowing them to sell their hashrate to contributors, who are willing to take the risk in return for high yields. In order to achieve this goal, vMine Holdings will:
Design and Features The vMine smart contracts system is comprised of smart contracts which provide the following features:
Main components
vMine lifecycle vMine will allow anyone to use the technology in order to exchange hashrate for cryptocurrencies, creating the future market for hashrate. On top of renting their existing hardware, miners could use vMine in order to crowdfund their mining plan and purchase hardware only after their funding goal is achieved. New contributors could directly fund the contract, and vMine Pool will return mined coins to the contract’s funding addresses. New contributors will pay fees to vMine Mining Pool. Just like mining profits, fees profits are gathered in a vault, and equally distributed to token holders using the Token Distributor Smart Contract. The general system flow is illustrated here: https://s3-us-west-2.amazonaws.com/vmine/vMine+Flow+Illustration.png References
Title: Re: [ANN] Hashrate future contracts Post by: iHaveDreams on November 03, 2017, 09:45:05 AM Hi, I am long time crypto enthusiasts , with some experience crypto mining and, we've thought of the following idea/project. Please your opinions whether it is worth implementing and if it is physible. In order to support and extend the crypto mining industry by creating a marketplace for mining contracts that allows contributors and miners to exchange hashpower in an easy, safe, transparent and auditable way. We suggest to offer a standard ERC20 token[1], called vMine (e.g VMN), which will be the first hashrate-backed cryptocurrency. vMine token allows contributors to benefit from the high profitability of cryptocurrency mining and allows miners to hedge their risks by entering Smart Future Contracts in exchange to harnessing their mining power. Holding vMine means owning mining cloud with real hashpower without having to deal with physical mining hardware. vMine is also tradable, allowing contributors to easily open/close mining positions and strength the crypto mining industry. In practice, vMine virtualizes and tokenizes crypto cloud mining and produces high yields that miners currently enjoy due to its intrinsic value of hashrate. vMine is owned by its token holders and lives on Ether, producing revenues on regular basis and funding the project for eternity. Each vMine holder could receive the mining dividends on a monthly basis, earned coins can be auto traded in the dashboard to Ether, Bitcoin or USDT. Overview Cryptocurrencies mining industry have been very profitable with outstanding returns and a very short ROI for crypto miners. On the other hand, miners are exposed to many risks such as new hardware architecture, hashrate increase and high crypto-currencies volatility. These factors make future cash-flow prediction nearly impossible, especially when miners need to trade the mined coins to cover their costs and safely invest in future mining hardware. Bitcoin Mining Based on Bitcoin historical prices [2] and hashrate [3] we calculated the actual daily revenues for 1 Bitcoin Terrahash/s. https://s3-us-west-2.amazonaws.com/vmine/BTC+Prices.png The green line shows the average revenues of 1 Terrahash of the following 6 months for each specific date. Hardware cost is based on AntMiner prices [4] We can see that even despite the constant logarithmic rise in hashrate and volatility of Bitcoin price, Bitcoin mining was profitable and had average ROI of 1 year. Ethereum Mining Based on Ethereum historical prices and hashrate[5] we calculated the actual daily revenues for 1 Ethereum Megahash. https://s3-us-west-2.amazonaws.com/vmine/ETH+Hash+rate.png The blue line shows the average revenues of 1 Megahash of the following 6 months for each specific date. We can see that even despite the constant logarithmic rise in hashrate and volatility of ETH price, mining revenues fluctuated between 5-15 cents, and had average of 10 cents a day. The following graph shows the ROI period in days: https://s3-us-west-2.amazonaws.com/vmine/ETH+Prices.png The yellow line shows the projected ROI calculated by the ETH price and network hashrate at a given time. The green lines shows the actual ROI for any mining hardware purchase by aggregating the revenues of the next 180 days. We can see that Ethereum mining have an average actual ROI of 120 days. Realistic example of hashrate profitability Short-term loans are considered to be safest investment in the cryptocurrencies world. The average rate is daily interest of 0.05%, which adds up to annual return of 20%. Currently, mining rig of 168 MH/s (megahash per second) costs USD 2,252 and is expected to generate USD 7,630.04 in its first year[6]. This reflects an annual return of 338%. Unfortunately, Hashrate changes and volatile prices of cryptocurrencies affects the steadiness of the miner’s cash flow . Therefore, we would like to offer miners hedging that will stabilize their cash flow, while allowing contributors to take part in the profitable mining industry. We believe the gap between the expected returns of the miners and the contributors will work in two ways: Motivate contributors to contribute to the profitable mining industry and enjoy its high yields. Motivate miners to reduce their risks and ensure stable cash flow by selling the hashrate via smart contracts to people who love risk. Transparency
Goals Recent developments in Smart Contracts technology such as Ethereum and Rootstock [7], lays the foundations for trading the hashrate of all cryptocurrencies in a safe manner. We also believe that most currencies which don’t currently support smart contracts would adapt sidechains and smart contracts as well. Using smart contracts, we would be able to reduce miners’ risks by allowing them to sell their hashrate to contributors, who are willing to take the risk in return for high yields. In order to achieve this goal, vMine Holdings will:
Design and Features The vMine smart contracts system is comprised of smart contracts which provide the following features:
Main components
vMine lifecycle vMine will allow anyone to use the technology in order to exchange hashrate for cryptocurrencies, creating the future market for hashrate. On top of renting their existing hardware, miners could use vMine in order to crowdfund their mining plan and purchase hardware only after their funding goal is achieved. New contributors could directly fund the contract, and vMine Pool will return mined coins to the contract’s funding addresses. New contributors will pay fees to vMine Mining Pool. Just like mining profits, fees profits are gathered in a vault, and equally distributed to token holders using the Token Distributor Smart Contract. The general system flow is illustrated here: https://s3-us-west-2.amazonaws.com/vmine/vMine+Flow+Illustration.png References
Title: Re: [ANN] Hashrate future contracts Post by: vmine on November 03, 2017, 09:54:08 AM Thanks for the edit. How do I turn img links into pictures?
Title: Re: [ANN] Hashrate future contracts Post by: hyudien on November 03, 2017, 10:00:01 AM Thanks for the edit suggestion (i am forums newbie) How do I turn img links into pictures? You can't cause your rank mate. Minimum rank can upload an image was jr.member. So, be patient till your rank is up. Anywawy, your project seems promised. I'll bookmark this for new information. Regards Hyudien Title: Re: [ANN] Hashrate future contracts Post by: vmine on November 03, 2017, 10:03:19 AM Thank you for supporting.
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