I am very interested in your second service.
If I ran my Little Single (30 GH/s) on your site, would it be possible to receive weekly cash payments?
Say I'm making $100 a week, could I PM you before you mail with the instructions to have $50 shipped and have a $50 best buy card included?
How much notice for that would be required?
How can I confirm you are providing the exact amount of Bitcoin minus whatever fee you charge?
What kind of fees do you charge for this?
1. Currently 30 GH/s is about 4.95 bitcoins per week, which turns out to be about $430 per week
2. The process would be as follows:
You mine on my worker and I would only cash you out when you asked me to do so. I will then credit you for (BTC hashing power * current BTC rate) minus a 5% fee.
The current BTC rate would either be the daily average BTC trade on mtgox OR the last BTC trade on mtgox, whichever is <u>lower</u>. IE if the last trade is $94, but daily average is $96 then the calculations would be done by the worth of a BTC being $94. Usually the difference is only $1 to $3, but in high quantities it makes a big difference for me (especially if the market is going down).
So basically I would send you the money in any of the formats I listed in my original post. If a visa card requires the $5.95 fee to be activated then that would also be taken from the cash out amount after the 5% fee has been deducted.
3. There are 3 ways to estimate that your payout is what it should be.
A) Use a mining calculator to estimate your weekly payouts (just for a general idea)
B) Watch your BFGminer stats for the total amount of shares you have accepted in the mining pool, you can then either look at the mining pool's PPS or I will provide it to you. Multiple the two and you have a well estimated payout before the fees.
C) I will provide you a screen shot of your miners stats if requested and I can provide you with updates via PM (both of these could technically be forged IF I was a scammer so take them with a grain of salt)
4. The fee would currently be 5% for your setup. Most gift cards don't have an activation fee, but if you choose a visa prepaid card then the $5.95 activation charge would also have to be deducted.
5. I want to also inform you that even though all calculations would be conducted on the day you tell me to cash you out, that if you are making $430 a week from your miner, that I would require 5-10 business days to have the payouts in the mail. I know that sounds like a long time, but bank wire transfers take me at least 4 business days to have funds ready for you.
6. If you currently have the miner and you would like to take as little risk as possible let me know and we can start with just $100 of BTC hashing power (or even $25/$50) and you can get a feel for how the process works (and to prove that I wont run with your money) and that way you can decide if my service is right for you.
If you have any further questions just let me know!
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