Title: Minning Contracts Post by: ebritno on December 11, 2013, 10:25:01 AM Hello, my name is Shane Farrar. While I am not new to bitcoin or the forums (lurker) I have finally made an account here.
I noticed that there are a lot of places selling mining contracts that are scams, with only a few legitimate ones. I created a business plan in an attempt to offer a legitimate service for mining contracts. While there service is not up yet and things are subject to change I was hoping to get some feed back on the price point that I have come up with for the service. I wanted to put it up to scrutiny as I finalize it in the coming weeks. If it holds, I hope to start kick this thing off. Basically I am hoping to offer shares at $24.99 each. These shares will come with:
What do you guys think? Title: Re: Minning Contracts Post by: coins101 on December 11, 2013, 10:28:57 AM 4 years in mining terms is a lifetime.
renewable contracts every 6 months, and you might have a winning proposal. Title: Re: Minning Contracts Post by: ebritno on December 11, 2013, 10:53:29 AM 4 years in mining terms is a lifetime. renewable contracts every 6 months, and you might have a winning proposal. If I were to offer something like that, what do you think the price should look like? reasonably speaking? The reason why I offered the 4 year share, is because when I researched competitors to create my model, I noticed that mining contractors where charging people for the hardware and for future hardware. In extreme cases they even charge their customers for making a profit. As I reviewed the different models it seemed to me that the best way to insure that my customers could produce a profit would be to treat them as if I was selling them a physical piece of hardware. Where the profits are their own. 1 GH/s isn't going to produce a profit for 4 years. But because it is prorated with a minimum number of years, it is almost like I'm selling hardware that grows and comes with a 4 year warranty. As opposed to renew contracts, customers would purchase more shares every so often if it remained profitable. I plan to increase the minimum share hashing power every 6 months at a minimum which I think will help to keep up with difficulty. But obviously, if that's not popular I can rework the numbers and see what I can do. Such as offer more GH/s for a short but fixed period as you seem to suggest. Title: Re: Minning Contracts Post by: ebritno on December 11, 2013, 11:22:35 AM Sorry for double post.
Alternative price points could be: 1299 for 1 GH/s/6 months 2499 for 2 GH/s/6 months 5499 for 5 GH/s/6 months Theoretically no minimum purchase. That is off the top of my head, I might be able to work them down if I review my model. Does anyone else have an opinion of the renewable fixed contracts versus practically indefinite shares |