Title: [ANN] Megamine.com : New PAYG hosted contracts Post by: joust on January 28, 2015, 12:06:56 PM http://www.megamine.com/assets/megamine/logos/NewMMLogo%20400.png
MegaMine launches new hosted Bitcoin mining packages to complement its existing fully inclusive cloud mining service Flexibility and choice of PAYG or fully inclusive hosting available for purchase from today London, UK, 28th January 2015 MegaMine, Europe’s leading Bitcoin cloud mining company, today announces the launch of its new Pay-As-You-Go (PAYG) hosted mining packages to complement its current fully inclusive mining packages. This launch is possible due to the recent delivery of the fourth tranche of mining equipment, expanding the available capacity significantly. MegaMine always uses its own equipment to underpin its customers’ mining contracts, thereby guaranteeing their long-term viability, and hence has waited until the recent expansion of its mining operation before offering a wider choice of contracts. MegaMine has had significant success selling fully inclusive contracts which are simply structured with miner hosting fees included as part of the fixed purchase price. The main advantage of these contracts is that there are no additional fees to pay, and customers earn exactly their share of BTCs for the term. However, this means taking a forward view of both the value of BTC and the difficulty rate and whether this is advantageous compared to calculating hosting fees per day. Many of our customers have asked for a service where the hosting fee is “paid as you go” out of BTC earnings. This has the advantage that if the BTC:$ price rises more quickly than expected, then the fixed $ hosting fees chargeable each day become a smaller percentage of the earnings. Hence the contract could be more successful than one where the hosting fees are paid up front. Conversely, there is the equal risk that if the BTC:$ price falls, the earning could, in extremis, have to go entirely towards paying the daily hosting fee, leaving no earnings for the miner. (In the same situation, a fully inclusive contract would continue earning.) The risk profile of these new contracts is therefore very different to the fully inclusive packages but, as MegaMine’s key values are transparency, flexibility and choice, we are delighted that we are now in a position to offer our customers the option of either package – or the ability to buy both types of contracts if a further spread view of forward risk is required. The new PAYG hosted contracts are available from $0.479/GH initial fee with a daily hosting fee of $0.579/GH/Year (which equates to a charge of $0.00158630136/GH/Day or $0.04825/GH/Month). The hosting fee is charged in BTC based on the market mid price of the day. All PAYG contracts run for a maximum of three years, but are terminated earlier if the earnings from the contract are not able to fund the hosting fees. One concern about PAYG contracts is the margin available between the hosting fee and the earnings. However, MegaMine has the lowest electricity cost base in the EU which, along with the exceptionally high efficiency of our data centre in the sub-Arctic region of Northern Sweden, means that our hosting fees are as low as they possibly can be. For example, a 100TH PAYG hosted contract purchased on Monday 26th January 2015 would have provided the following earnings: Gross earnings: 1.08229662BTC Pool charge (5%): 0.05411483BTC Hosting charge: 0.56399821BTC Net earnings: 0.46418358BTC Notes:
Our packages are available to purchase today at http://store.megamine.com For further details on all of our contracts, go to http://www.megamine.com Unique features of the MegaMine.com cloud hashing service As MegaMine has continued to grow, it has gained significant economies of scale. What makes our service unique is that we combine the security and safety (from both a legal and tax perspective) of being hosted within mainland Europe, with the advantage that our miners are hosted in our own data centre just 60km south of the Arctic Circle, where there is no need for expensive and energy-intensive cooling. Exceptionally low ambient temperatures in the region (last week the outside temperature was -28°C) mean that we do not need to waste energy running compressor-based air conditioning to cool our miners. Moreover, the data centre’s electricity is provided by the local hydroelectric power station, giving us the cheapest electricity in mainland Europe. For our customers, this adds up to very competitive pricing for both purchasing the contract and the maintenance fee. In addition to our competitive pricing, our contracts come with these unique benefits:
About Megamine Megamine was formed in January 2014 to offer cloud based Bitcoin mining that is simple and straightforward, so that anyone who wishes to acquire Bitcoins can do so easily and cost effectively. Headquartered in London, UK, with its mining operation running in Boden, Sweden, the MegaMine operation is fully compliant with all UK and EU tax and anti-money laundering regulations. For further information, visit http://www.megamine.com (http://www.megamine.com) or email info@megamine.com You can also contact joust on this forum. Title: Re: [ANN] Megamine.com : New PAYG hosted contracts Post by: Warren Buffet on January 28, 2015, 03:20:04 PM Seems legit ;D ::) :D
Title: Re: [ANN] Megamine.com : New PAYG hosted contracts Post by: adaseb on January 29, 2015, 04:13:30 PM http://www.megamine.com/assets/megamine/logos/NewMMLogo%20400.png Gross earnings: 1.08229662BTC Pool charge (5%): 0.05411483BTC Hosting charge: 0.56399821BTC Net earnings: 0.46418358BTC Notes:
You forgot to mention the fact that the 100Th/s contract cost $48,000. So even at a price of $281, which is highly unlikely to remain the same one year from now, I won't even mention the difficulty. Requires 369 days of mining to pay for the contract itself. So unless you have a time machine and know that one year from now, you are still in business, the price is around $280, and the difficulty hasn't changed, then it sounds like a very risky investment. Title: Re: [ANN] Megamine.com : New PAYG hosted contracts Post by: joust on January 30, 2015, 10:34:53 AM You forgot to mention the fact that the 100Th/s contract cost $48,000. So even at a price of $281, which is highly unlikely to remain the same one year from now, I won't even mention the difficulty. Requires 369 days of mining to pay for the contract itself. As you'll find on our website we can't comment, neither legally (because it is against the law for us to do so) but also because we have no real idea what is going to happen, about future performance. All we can show is past history and be totally transparent about what our charges are.So unless you have a time machine and know that one year from now, you are still in business, the price is around $280, and the difficulty hasn't changed, then it sounds like a very risky investment. We have probably as much idea as you (i.e. none) that BTC will be $1 or $10,000 in a years time, but it's worth noting that the contracts run for up to three years and so it will be a certain type of person that views this as "rubbish" or "interesting". As for the question if we will still be in business you'll see from our funding equity house (www.blackgreencapital.com) that it doesn't take a one year view with any of it's investments, and Megamine is a stakeholder customer for a much larger managed data centre hosting business and hence is part of a portfolio of investments that BGC does. We've been through the .com boom-to-bust-to-boom so short term changes doesn't change our fundamental views. It would appear from the people ordering our service (hence the recent expansion of our farm) suggests not everyone is taking a short term, "1 year" view about mining as you do - especially as the price you quote is for a 3 year contract and we have been transparent about the breakeven point (which is half of what it is on CEX.IO and almost third of the new CloudHashing.com maintenance charge) upfront so everyone can form their own view. Remember cloud mining isn't for everyone, and that's just fine, just as a whole load of other financial investments aren't for some people. Justin CEO www.megamine.com |