Bitcoin Forum

just throwing this out there:

Seems there is a lot of interest in mining LTC recently, and I am willing to sell my hashing power.  Pretty simple....I have a total of 110,000 KH/s, and it can be yours.  

I will sell a guaranteed 110,000 KH/s for $18,000 per week (7 days) hosting and power included.

Bam.  


EDITED TO BE A WEEKLY CONTRACT. 

How many LTC would someone expect to get from this?   


Hey Yoch - haven't bumped into you for a while.

According to CoinWarz, monthly profit with 110000 khs would be 24K.

http://www.coinwarz.com/calculators/litecoin-mining-calculator/?h=110000.00&p=0&pc=0&pf=0.00&d=1486.12414801&r=50.00000000&er=0.01333000&hc=0.00 (http://www.coinwarz.com/calculators/litecoin-mining-calculator/?h=110000.00&p=0&pc=0&pf=0.00&d=1486.12414801&r=50.00000000&er=0.01333000&hc=0.00)

Michael

The hardware cost should be $20,000 so it is around $4,000 profit.   Interesting.

(&poolBitch) At current difficulty of 1,486.124, your expected LTC earnings are: 74.45 [$699.61] per day, 521.15 [$4897.25] per week, and 2233.48 [$20988.01] per Month. Dollar Values Based Off Current LTC Value of $9.397
Not close enough.

Sup baby.....this would generate around 2,250 LTC in 30 days.  Obviously difficulty will factor in, but there has already been a substantial jump  the last few weeks, so it should taper off. 

It should be a solid deal for the buyer.....I priced it to leave quite a bit of profit on the table. 

When I think quite a bit of profit I would think more that 4K. ROI in in 24 days, so you're only profiting on the remaining 6 days.

Now if you sold it outright for 20K that would be a solid investment, or contracted for 1 1/2 month then it would be worth while.

Michael

How silly of me.  I forgot about the myriad other investments out there that yield 10% in 30 days.  My bad. 

I'm impressed with that LTC power, I have to ask - Whats the KW draw on this setup?

Same here. Sorry to bump the thread with another 'not interested in buying" post, but Im curious about the hardware to achieve this, if your willing to share.

My set-up is comprised of 95% 7970's, with a few 7990's for shits and giggles.  Last month I pulled somewhere in the neighborhood of 40,000-50,000 KW hours, between 3 locations. 

My apologies, I didn't mean to offend.

Michael

What kind of escrow would you be OK with and do you offer any kind of uptime guarantee?

No escrow......my trading reputation is unquestioned and the contract will be honored as stated with no issues whatsoever.  I guarantee an average 110,000 KH/s for 30 days.  Any downtime will be compensated out of my own pocket. 

Heh, if I had $20k Sitting around, I'd jump all over this. Good luck Yoch. If you decide that you no longer value money, and only wish to provide the contract for the betterment of my sake, let me know if you would do this for $5k  :D

*Just kidding of course*

this made me grin.   ;D

This is true, Yochdog doesn't play and neither do I.

@yochdog

I'm not interested in renting your 110k Kh/s mining farm for USD 20k up front, but I would be interesting in setting up some sort of future contract with you regarding your farm and it's ability to mine LTC in a certain periode of time. This will mean you are hedging against a possible higher diff change and I am on the opposite side, if diff change is lower than expected I 'win'.

Drop me a pm if you're interested in working out such a deal.

Cheers

Weird, I'm looking at this http://www.litecoinminingcalculator.com/index.php?khs=110000&diff=1486.12414801&cdiff=1486.12414801&fee=0

It seems a lot less..


Edit:  oh shit, nevermind, LTC climed up to $11 + USD in the past few hours./. .o.O

Can you give clear reasons on why you are doing this ? Clearly you can get more than $20k in the same period, are you needing $20k right now ?

Risk.

If he mines for a month there is a chance the price of LTC will drop to nothing and he could loose out. However, if you rent his rigs for a month at a flat rate then he is guaranteed to make $20k while you take the risk.

The flip side is also true where the price of LTC could go way up and he would 'only' get $20k, but the $20k is still guaranteed.

Volatility newfriend.

 

Can you provide any pictures?  I can't even imagine what you're mining with, lol.

I am not going to post pictures....nothing all that fancy. 

However, you can verify my speed at:  http://wemineltc.com/statsAuth (http://wemineltc.com/statsAuth)

I am usually the top hashrate. 

Sooo .. it's after you that we're all running on WeMineLTC  ;D  ;D

Good luck !

According to http://wemineltc.com/statsAuth you are almost 15% under the 110K KH/s you mentioned earlier, but if you have some flexibility, pm me.


Thank you!

To clarify, the flexibility would be regarding trust, not your hashing power.  That is largely irrelevant at these prices.

If no one has bought it, I'll buy maybe next month (December) or next year (January ~ February). I sent you a PM Mr. yochdog.

So this is an all or nothing deal?

I second Dragoon's question. I would be interested in fractional rental or in grouping together with a few people.

I am currently in negotiations for the full 30 days.  If you would want to do fractional renting, I suppose could buy a percentage of the coins from me.  Everything would be contractually bound and yochdog's payments wouldn't be dependent on yours.  PM me if you are interested.

all you fools that calculated ROI with LTC=$10US... shame. on. you. LOL
well done yochdog! wemineltc all day every day only im ranked about 540 spots under the top spot. ill get there! :)

That's a very silly thing to say. No one calculates ROI on best case scenario and investing by simply expecting something to go up in price is a very stupid investment strategy.

Truthfully, ROI should be calculated by taking the worst case expectation of difficulty increase and price drop to determine what it is worth for you. You can reasonably expect difficulty to increase by 5-10% every 3 days which puts you at a difficulty of over 4000 at the end of the month - now what if priced dropped to 20?

Don't insult people on the basis of a behind the napkin calculation you did.

Edited to update time and price of contract. 

Just so I don't misunderstand - has the price been effectively quadrupled?

Effectively, you lost the opportunity to rent for 20k and grab 80k+

Coz I had 20k just lying around, effectively collecting dust?

You are correct.  had no takers on the last deal.....and I have adjusted for the change in the LTC market. 

Uh.... okay. yochdog, can you still answer my PM? I'm interested to rent for a week, but I'm waiting for my $18,000 to come in first. hehe.

Now it becomes a speculation on LTC price rather than an investment.

With the current difficulty, 110 MH/s can mine around 70 Ltc a day and 490 Ltc a week. That's 490 * 40 = $19600, but we all know $40 is very high and a crash may happens any time. But the opposite may happen too and the price may keep increasing. Anyway this contract is just like buy 490 LTC in 7 days with $18000 ($36.7 per LTC) if the difficulty will not change soon.  

The economics are actually slightly worse. Difficultly will increase to around 1770 in the next 22 hours and you will only mine 440 LTC at that rate for a total of $17,600. Now you are losing money.

I agree with you that this is just like buying LTC now.

This deal is no longer appealing.  Yochdog is trying to hedge an extremely volatile commodity (LTC)—an admiral thought—for a very short period.

It's basic financial risk analysis...  The more volatile the commodity, the more risk, and the more generous the seller must be to compensate the buyer fairly.

To make this appealing one of two things must happen:

• The margin from market price must be increased OR
• The length of the term must be increased.

Failing these two items, this deal is merely a very large purchase order, to be delivered in 7 days.

why not split the hash power and share it between the community? users can buy per KH.

That would be a lot of work, but it would surely be more appealing.
If someone would have taken that risk on first day, then hes ROI would have been over 400% for monthy contract.
No one saw that coming...

Time to adjust those rates OP. Litecoin rates and the difficulty are much higher now!

I would, but it seems like no-one has the ability to step up and actually buy it.....so I am just gonna keep my hashes. 

And its only for litecoin, for now.

What's the current rate? It has to go lower now, since you make half the money for the hash rented.