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101  Alternate cryptocurrencies / Mining (Altcoins) / Re: Group Mining on: June 02, 2017, 08:59:27 PM
I have the same conundrum with some friends of mine

I was thinking of doing:

Each friend (investor) buys (pays for me to buy) one (or more) graphics card(s) (on my recommendation).

Then I guarantee to pay back 25% of the cost of the graphics card(s) each month for the first three months
Anything the gpu earns over that 25% I keep as profit and goes to paying off the rest of the rig

Then from month 4 through to 8 we split whatever the gpu(s) earn per month 50/50

Then in month 9 I would buy the gpu outright for 10% of its original price - any remaining profit it earns is kept by myself or any remaining scrap value I can sell it for is kept by me

They can then buy more gpus as and when they are available and they have cash to do so


This of course depends on the gpus current and forecast returns and break even targets as well as scrap value estimates for future liquidation

Thoughts and modifications welcome

Smiley

Sounds to me as if you are trying to screw over your friends, or simply use their capital to make yourself some money at their expense. Besides everything else you posted that diverts the lion's share of profit to yourself, after 9 months the GPUs will be worth a lot more than 10% of their original value, so sounds more like a final exit scam on your friends.

I cannot discern how many friends you have from your post, but for sake of arguments lets run through a (imho) better alternative with yourself and say 3 friends.

1: Figure out how much the total cost for the rig will be once setup and running. Divide by 4 and you each are equal investors. Agree with your friends on a setup/support/maintenance fee you will charge each month. Say 10% of the net profit (after electrical), but up to you to negotiate up-front with them the exact amount.
2. Setup and run the rig for a month. Keep careful track of profits and electricity costs. Subtract electrical costs from the total profit, and also subtract the fee for yourself. Divide the remainder (or net) profit equally among everyone 25% each. Keep good records with screenshots (at least 1x a week) showing hashrates, exchange prices, etc. so there are no questions on how you arrived at your calculations. Might also be a good idea to share with them the pool link so they can keep tabs in real time if they wish. Also, you will want the address you are mining to with the investors rigs to be totally separate from any private rigs you are running.
3. Repeat each month as long as rig is profitable. Remember your fee includes you keeping up to date on latest mining software, most efficient settings, best algorithm to mine for max profit, etc.
3. If they do want a buyout at some point, again this should be negotiated up-front, but I think with a more fair value say 33% of purchase price after a year. Maybe 10% after 2 years.


Apologies Za1n, I sort of blurted the post out on the spot and upon second reading, it does seem a slightly ruthless approach!

Your method is a lot better and would only need correct pricing of the time spent researching, logging and exchanging etc.

Would be a bit easier if mining didnt always seem like such a race!
102  Bitcoin / Bitcoin Discussion / Keeping my wallets on an externall HDD on: June 02, 2017, 07:02:13 PM
Probably a stupid question, but am i correct in thinking that I can connect an external hdd and install my wallets (bitcoin, dash, litecoin and etherium) onto the hdd which will then sync the blockchain whenever I connect the hdd and open the wallets?


So this would technically be a form of cold storage?


Also.. if i have already installed my dash and litecoin wallets onto my macbook, should i bother copying the install/root/files over to the hdd or should i just download a new wallet onto the hdd, trans all the coins and do it that way?


Hope this makes any sense
103  Alternate cryptocurrencies / Mining (Altcoins) / Re: server psu on: June 02, 2017, 06:26:28 PM
anyone in the UK making these server breakout boards? Would be very cool......

Postage on the above is a pain
104  Alternate cryptocurrencies / Mining (Altcoins) / Re: Asic miner for Ethereum... why not ? on: June 02, 2017, 06:25:08 PM
The race against difficulty is real :/

Is there any more news (rumours) on the PoS date?
105  Alternate cryptocurrencies / Mining (Altcoins) / Re: Would you recommend a regular PSU per rig or server PSU? on: June 02, 2017, 05:31:13 PM
I too am interested in this

It comes down to does the server PSU cost plus server PSU break out board plus small atx PSU cost more or less than one or two platinum rated computer PSUs...


I'm having trouble locating breakout boards for a good price to the UK so if anyone knows of any... please let me know!

106  Alternate cryptocurrencies / Mining (Altcoins) / Re: Caution! Pandaminers catching fire! on: June 02, 2017, 05:28:48 PM
Crikey! It's got to be just they are using crap PSUs to keep costs down

107  Alternate cryptocurrencies / Mining (Altcoins) / Re: Group Mining on: June 02, 2017, 11:20:47 AM
I have the same conundrum with some friends of mine

I was thinking of doing:

Each friend (investor) buys (pays for me to buy) one (or more) graphics card(s) (on my recommendation).

Then I guarantee to pay back 25% of the cost of the graphics card(s) each month for the first three months
Anything the gpu earns over that 25% I keep as profit and goes to paying off the rest of the rig

Then from month 4 through to 8 we split whatever the gpu(s) earn per month 50/50

Then in month 9 I would buy the gpu outright for 10% of its original price - any remaining profit it earns is kept by myself or any remaining scrap value I can sell it for is kept by me

They can then buy more gpus as and when they are available and they have cash to do so


This of course depends on the gpus current and forecast returns and break even targets as well as scrap value estimates for future liquidation

Thoughts and modifications welcome

Smiley
108  Alternate cryptocurrencies / Mining (Altcoins) / Re: New to mining? Want new rig help? Thinking of starting mining? Ask here. on: June 02, 2017, 11:03:38 AM
Thanks for the info,

So that dummy plug had an hdmi plug... can it be either vga or hdmi? I'll be using the asrock h81 pro btc mobo
I'm guessing the plug goes in the mobo and not in the gpu display port?

Sorry for what is probably the most ridiculous question haha
109  Alternate cryptocurrencies / Mining (Altcoins) / Re: New to mining? Want new rig help? Thinking of starting mining? Ask here. on: June 02, 2017, 10:48:32 AM
Do I need to leave my screen plugged in all the time? Can I just unplug it once the rig is set up to mine
Then plug it back in when I need to check status?
110  Alternate cryptocurrencies / Mining (Altcoins) / Re: First time miner/fact finding on: June 02, 2017, 09:05:27 AM
X11 and dash is where it's at
More profitable than monero

At least that's what I'm finding right now
111  Alternate cryptocurrencies / Mining (Altcoins) / Re: The best rig operating system. ethOS vs. Windows vs. Linux vs. MS-DOS? on: June 02, 2017, 07:45:31 AM
Thanks everyone

I think I'm going to go the route of ethOS
EthOS plus a USB drive is cheaper than an SSD and free win10

Plus I'm not normally near my rigs so remote access is useful
Plus I'm looking to scale my hardware as turnover comes in so would be good to get used to the OS from the beginning


When you say you couldn't modify the bios to get more than +1mhs in ethOS I thought ethOS allows you to modify the clock speeds etc in the same was as afterburner etc?

112  Alternate cryptocurrencies / Mining (Altcoins) / Re: The best rig operating system. ethOS vs. Windows vs. Linux vs. MS-DOS? on: June 01, 2017, 09:30:02 PM
nobody?  Undecided
113  Alternate cryptocurrencies / Mining (Altcoins) / Re: BAIKAL - 5 STAR PRODUCT 1 STAR SERVICE - BAD BUSINESS PRACTISE on: June 01, 2017, 09:27:54 PM
i think baikal might have shut up shop for now
potentially so they can work on the next generation of X11 miners


unless anyone has any secret news or leaked info of a batch 3.0 cube release?

(i had two cubes in my cart on batch 1.0, couldnt get BTC in time, then had delayed notification of batch 1.5 release so didnt get any then, and finally got some ordered at batch 2.0 release)

114  Alternate cryptocurrencies / Altcoin Discussion / Re: WARNING!!! Ethereum and Ethereum classic are SCAMS! on: June 01, 2017, 09:23:14 PM
Is not a joke! I'm serious! The history of Ethereum it's a fake. The "Dual Scam System" is the real project. Search on the darknet…

can you post some tor links for us to read?
115  Bitcoin / Mining speculation / Re: What Is Your Favourite Home Mining Equipment At 2175 USD Bitcoin Price on: June 01, 2017, 09:21:26 PM
my favourite is my altcoin mine... on nicehash so technically earning me btc

due to break even in 2 months time Smiley
116  Bitcoin / Mining / Re: Window blind solar panels on: June 01, 2017, 08:55:28 PM
Interesting idea

But it will always be more complicated to manufacturer and maintain that a standard one piece panel
Furthermore, it will likely also always be less efficient that a one piece panel due it having more edges; thus less area of conversion per area of construction and it will also not always be in the correct position to best capture the suns rays.

I think the only real way to do solar is to have roof or land mounted panels (ideally on a tracking gimbal)

Ultimately - I dream of one day being able to get my energy from an orbital solar array that could be vast enough to power the whole planet

I digress...

Smiley
117  Alternate cryptocurrencies / Mining (Altcoins) / Re: Rig Building Guide on: June 01, 2017, 12:24:46 PM
I'll be posting a video up on YouTube with a guide in the next fortnight or so if that would be of help?
118  Alternate cryptocurrencies / Mining (Altcoins) / The best rig operating system. ethOS vs. Windows vs. Linux vs. MS-DOS? on: June 01, 2017, 09:59:06 AM
Okay I'm sorry, MS-DOS was click bait  Roll Eyes

Can anyone do like a neat and clear pros and cons list for windows vs ethOS vs Linux?

I'm thinking of getting set up with ethOS but just want to make sure it's the right move - I have heard you can't undervolt the gpu's but could be wrong..?

Just wondering if anyone has any glaring good or bad points for the OS options out there


Thanks all! Smiley
119  Alternate cryptocurrencies / Mining (Altcoins) / Re: 2 Weeks of L3+ Mining, 211 Blocks found?! on: May 31, 2017, 06:14:24 AM
Correct me if I'm wrong but would that not be $65,000 worth of LTC??? Seems a tad high for two weeks?
120  Alternate cryptocurrencies / Mining (Altcoins) / Re: ASUS HD 6670 1GB - Should I bother to bung these in a spare rig if they're free? on: May 30, 2017, 04:11:48 PM
The volume (or lack) of responses leads me to believe I would be the first pioneer to try the cards... for good reason I'm sure haha
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