Mining contracts

[kpriess]

I have rig with a 6870 and recently got an extra pair of XFX 6870s that I've been planning to rent for mining..

As this is the first time I'm gonna be involved in something like this I would like to hear opinions based on others' experiences, and would like to know how does this sound:

$75 weekly on paypal for a 24/7 mining crossfire 6870 [OC] setup, ~420-440 MH/s.. $140 for 2 weeks..



EDIT: price just changed 05/20, offering single rig setup for now.. Only one rig available..

[Sukrim]

My 6870 does 280 MH/s - a dual setup should be able to do 500MH/s at least!

I would be interested, just as a short question: Who pays paypal fees and do you accept weekly payments too?

Edit:
Would you agree to a system similar to vladimir's? You say, you mine at xxxMHashes/s for a period of time and just pay daily (or even weekly) what these MHashes/s would generate in BTC. This means you can rent for example 400MH/s but still have 100MH/s for yourself/variance and on the other hand customers don't have to hope that you have a "good day" or "luck streak".

[Grinder]

Seems to me that all those services sell miningpower for more than the bitcoins it will generate is worth. That means you don't even need the mining rig. You can just sell the "hashing power", use a share of the money for the sale to buy enough BTC on mtgox, and feed those BTC back to the customers at a rate that corresponds with the hashing rate they were promised.

[Sukrim]

With 400 MHash/s currently you mine ~2.55 BTC/day

So unless BTC are worth less than 2.80 USD a coin, you are better off mining than buying...

[kpriess]

Seems to me that all those services sell miningpower for more than the bitcoins it will generate is worth. That means you don't even need the mining rig. You can just sell the "hashing power", use a share of the money for the sale to buy enough BTC on mtgox, and feed those BTC back to the customers at a rate that corresponds with the hashing rate they were promised.

**** a week for dual core processing is way below the actual BTC net income, I would be "losing" in a way, but I want to test how accepted is this kind of market.. And if it works out, I would rather have the money on my PP account without going through fees/convertions to get the extra hardware from a reliable source..

My 6870 does 280 MH/s - a dual setup should be able to do 500MH/s at least!

I would be interested, just as a short question: Who pays paypal fees and do you accept weekly payments too?

Edit:
Would you agree to a system similar to vladimir's? You say, you mine at xxxMHashes/s for a period of time and just pay daily (or even weekly) what these MHashes/s would generate in BTC. This means you can rent for example 400MH/s but still have 100MH/s for yourself/variance and on the other hand customers don't have to hope that you have a "good day" or "luck streak".

Are you sure about this..? I cant get the miner to report over 220 MH/s, these are NOT black editions, neither they are overclocked.. Deepbit reports from 190 to 360 for some reason I still dont understand..

[kpriess]

Also renting the MH/s is not a bad idea, but I would rather receive weekly payments..

A contributor already rented the main rig, second one will be showing up shortly.. If you're interested let me know, I would give peace of mind to know that the setup your paying for will go into production right away..


PS. Sorry about the double post, the writing box on this forums gets crazy when scrolling down with IE8..

[alexdrans]

I might be interested in this. When do you think your rigs will be up?

[kpriess]

Second rig will be ready in ~week, someone else is interested in it but if you want PM me your contact info and I'll let you know if the deal falls..

Remember this is not a big operation as some others started, this is a small operation that is just starting to test the market and see if there's enough balance on the expenses/profit..

[kpriess]

Got one extra rig with dual 5850s, will be online in a week.. Updated the contract price..