Bitcoin Forum

I am selling a 1.7 MH/sec LTC/FTC/whatever scrypt coin annual mining contract, which I have applied the name Sonikku-M to. I have a trifire Radeon HD 7970 rig that gets 1.7 MH/sec at stock speeds. I am willing to send LTC/FTC/whatever scrypt coin mining revenue to you for a whole year for a lump sum of money up front. I have free electricity, so all my mining currently is for pure profit. The reason why I have free electricity is because I live in a group home, so I pay a flat rate of rent and get a bunch of utilities and amenities for free.

I am offering this annual mining contract for $3,000. Since I have free electricity, I feel this price is about right. Yes, it is probably more than a Radeon R9 280X rig, but if mining is impractical at your location, this would be a better alternative. At $10/day mining revenue, which I expect will be what mining will make until the advent of scrypt ASICs, and which is less than what you get LTC/FTC/Doge mining at the moment, you will make $3,600 over the course of the year, a 20% return on investment.

The reason why I am offering this mining contract is purely because I am short on cash, and I would like to buy some things. I would rather buy them now instead of waiting nine months for them. What I plan to use the money for is some Sennheiser HD800 headphones, a Benchmark DAC1 USB, and a Radeon R9 280X to replace a Radeon HD 4890 that crashes all the time.

So you basicly want a loan and the creditor takes the risk of difficulty increases and exchange rate changes.

Been thinking about how I wanted to respond to this for a while, here's what I came up with.

There are risks with every investment. In this case, the risks on my end are altcoin spikes and difficulty crashes. The risks on the investor's end are difficulty spikes, altcoin crashes, and the potential proliferation of scrypt ASICs. However, Feathercoin has been stable recently on the exchange rate end, while difficulty has been stable throughout 2013. The real difficulty spike will come with the proliferation of scrypt ASICs. When that happens, no one knows.

My gut is Bitcoin and altcoins will continue gaining value in 2014. Knowing this, why do I want to do this mining contract?

One, I want some redundancy incase some of my Radeon HD 7970s fail this year.

Two, I want some audiophile level gear and some spare graphics cards now, instead of later.

Three, I want to offer something that will, with my best educated guess, return your investment. Sure, it might take a while, but it will return your investment provided scrypt ASICs stay away this year.