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Author Topic: Need Loan for mining  (Read 2261 times)
Killarshark33
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June 06, 2011, 09:55:50 PM
 #1

Hello I posted an investment plan but did not get any interested people, so I need someone to loan me 2 blocks of bitcoins and I will repay you with 3 blocks as soon as my mining rig gets setup, the rig I am looking at building will do about 1.6 ghash/s this will get one to two blocks per month according to the calculator.  So this will be about a 2 month investment and you will profit greatly.  If interested post here and if I have more than one offer I will take the best one like if one person says I will do it for only a half block interest or something like that.

EDIT:
Now this is the deal still 2 bitcoins.  But you get part of the profit for 6 months after I pay you back the 3 blocks.  The percent you get for 6 months you can send me an offer.
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cc5alive
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June 06, 2011, 09:58:47 PM
 #2

You're probably not going to find too many people interested in this idea. There's just too much risk in starting a mining rig this late in the game.

Now accepting Bitcoin for the children's book "How to Keep Your Helicopter"
http://altanimus.com/product/how-to-keep-your-helicopter
cc5alive
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June 06, 2011, 09:59:57 PM
 #3

Oh and the other thing is that if people have that much money to loan AND they believe that mining is going to be profitable... why wouldn't they just buy their own rig??

Now accepting Bitcoin for the children's book "How to Keep Your Helicopter"
http://altanimus.com/product/how-to-keep-your-helicopter
CubedRoot
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June 06, 2011, 10:00:24 PM
 #4

Did you account for the new difficulty that hit this morning in your calculator?  its now taking about 30% longer to find a block after about 7am UTC this morning.
Killarshark33
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June 06, 2011, 10:00:55 PM
 #5

Yeah i figured that it would not have a lot of interest because I am so late to the game Sad
Killarshark33
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June 06, 2011, 10:01:38 PM
 #6

Yeah i figured that it would not have a lot of interest because I am so late to the game Sad
Yes I used the new 500k via the calculator and that was the result i got.
dikidera
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June 06, 2011, 10:05:13 PM
 #7

Have you taken into account the diff withing the next weeks as well? one month is enough the diff to increase by 90% more.
Killarshark33
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June 06, 2011, 10:10:22 PM
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yes but however i had no idea it was 90% harder in the next month.
ensign_lee
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June 06, 2011, 10:12:52 PM
 #9

yes but however i had no idea it was 90% harder in the next month.

Before this last difficulty increase of 20% of so, we had one that was 80% in one jump. And 60% before that. That was within the span of...two weeks?
Killarshark33
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June 06, 2011, 10:19:43 PM
 #10

not to sound like a jerk but you are telling me that unless i have a 10 ghash/s i will only get like one block per month?  also is it possible for difficulty to go down?
bcpokey
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June 06, 2011, 10:20:28 PM
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yes but however i had no idea it was 90% harder in the next month.

Before this last difficulty increase of 20% of so, we had one that was 80% in one jump. And 60% before that. That was within the span of...two weeks?

No.

25% increase hit after 11 days. 75% increase hit after about 8 days, 60% about 9 days. that's roughly a month.
lemonginger
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June 06, 2011, 10:21:08 PM
 #12

LOL at "late in the game"

Either BTC is going to take off as an idea, in which case we are still essentially at Day 1 or it's not in which case it's just gonna crash and burn and most people won't realize their 100 bajillion BTC net worth anyway. Do you know how many people had millions of dollars worth of stock options in the dot com boom that were never ever realized?

But yes, doubtful anyone is going to loan money for mining -- they will mine themselves or buy shares in a mining company or pay for offsite Ghashes.
Killarshark33
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June 06, 2011, 10:23:37 PM
 #13

Lol I guess i'll never get a loan Cry
Sukrim
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June 06, 2011, 10:39:31 PM
 #14

For sure no loan in BTC! Wink

Just go to a bank and ask for a credit for a new computer if you really need it... keep in mind however that you might not be able to pay it back with the earnings of Bitcoin mining. Ever.

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Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
sirky
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June 06, 2011, 10:40:30 PM
 #15

Right, you would never give someone you don't know a cash loan. That wouldn't make sense.
Killarshark33
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June 06, 2011, 10:42:57 PM
 #16

Its not a cash loan its a bit coin loan.
sirky
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June 06, 2011, 10:44:48 PM
 #17

Bitcoins are basically internet cash. Which is one of the reasons it is growing more popular.

Like cash, all transactions are non-reversible.
Jack of Diamonds
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June 06, 2011, 10:58:43 PM
 #18

Depends on your definition of late. On 1 or 2 ordinary graphics cards like 5770, probably. On 1.5ghash or more I say go for it at the moment.

Though if price doesn't keep up with rapidly rising difficulty, even 10ghash/s wont be profitable in a few months so difficulty will probably drop at some point either way.

You can buy a rig now and put it dormant once it becomes unprofitable, wait for BTC value to rise or difficulty to lower.

1f3gHNoBodYw1LLs3ndY0UanYB1tC0lnsBec4USeYoU9AREaCH34PBeGgAR67fx
Killarshark33
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June 06, 2011, 11:08:14 PM
 #19

My setup will have over 15 ghash and no i think im pretty early considering that this is brand new and most people do not even know what a bitcoin is.
LegitBit
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June 06, 2011, 11:14:54 PM
 #20

"This heres a story about billy joe and bobbie sue
Two young lovers with nothin better to do
Than sit around the house, get high, and watch the tube
And here is what happened when they decided to cut loose

They headed down to, ooh, old el paso
That's where they ran into a great big hassle
Billy joe shot a man while robbing his castle
Bobbie sue took the money and run

Go on take the money and run
Go on take the money and run
Go on take the money and run
Go on take the money and run"

......

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