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April 07, 2015, 02:14:36 AM |
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I don't actually like this idea because it doesn't solve the centralisation problem of mining, on the other hand maybe it could generate some ideas. So there will always be people who want to get into mining but can't afford the gear. How about, someone who already is mining, offering a portion f their mining operation. Eg, suppose you have someone mining on say, for example Cryptsy (just an example) And currently he / she has 3Btc of Mining contracts in Cryptsy's MN2 operation.
Suppose some guy comes along and he wants to dabble in mining but doesn't want to risk too much.
So they agree and the Guy sends 0.1BTC to the miner. He's now in for 0.1Btc / 3Bt of the MN2 payouts per day (minus of course some sort of fee, let's say 1%)
This would allow those who currently mine with legitimate cloudbased mining operations to rent out and expand their mining operations. To further increase trust in such a venture, the Miner could voluntarily, at the start of operations set aside, let's say 0.5Btc in Escrow to settle any disputes and charge a small fee of 0.5% to add to that so that the amount in escrow builds over time. Once a year has passed, the miner has proved his worth, he gets the escrowed 'insurance' back.
This would mean that anyone initially investing small amounts would have a claim on the escrowed funds which would be there purely in case something goes wrong. These escrowed funds can be kept there both as an insurance policy and guarantee the Miner's part of the bargain,, that if he fails to deliver, there are escrowed funds available to claim upon, or for some future windfall,, lottery
So, anyone currently mining could accept Btc from people wishing to get involved in mining with minimum effort. Perhaps in some ways this is like those Ponzi scheme mining operations we've seen in the past, but the one proposed here is utilised using known, genuine mining operations.
The payouts could quite possibly be automated using a custom app that triggers once per day / week to calculate the payouts and transmit them using the Blockchain API.
A further refinement might be to reinvest 90% of the payout into further mining, this would mean an initially very small payouts, but would possibly generate an ever increasing income stream assuming of course that 90% re investment is enough to overcome the increasing Hashrate difficulty.
So there is an opportunity there for people engaged in legitimate mining operations to rent out their operation profitably.
Of course, as I said this does not address the centralisation issue.
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