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yochdog (OP)
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December 03, 2012, 08:46:17 PM
Last edit: December 04, 2012, 06:54:42 PM by yochdog
 #1

[/s]Hey all,

I have accumulated a SUBSTANTIAL amount of coinlab loyalty points, but I have no desire to cash them in yet.  I would however like to monetize them, and let someone else with higher costs extend the life of their farm.

I am not sure what an appropriate price is, but I am thinking maybe a 15% discount to their value of $0.00012427 PPS.

57,000,000*$0.00012427 PPS = $7,083.39

Let me know if anyone has interest in this.  

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jamesg
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December 03, 2012, 08:56:01 PM
 #2

I'll offer $1k.
yochdog (OP)
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December 03, 2012, 09:22:30 PM
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I'll offer $1k.

no. thanks! 

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December 03, 2012, 09:30:01 PM
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Well, doing a bit more maffs, it seems that if you just mine, right now, you'd make about $1.80/Gh/day. Coinlab is offering $2.50/Gh/day.

So.....

(1 - 1.8 / 2.5) * 7,083.39 == $1,938.3492

is the value these loyalty points are worth over just mining, at this moment. There is inherent risk in this though if the price of BTC increases dramatically or if difficulty falls. So my offer of $1k both seems reasonable and fair.

I'll let the offer stand for another 24 hours in case you'd like to reconsider.
yochdog (OP)
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December 03, 2012, 09:39:56 PM
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Well, doing a bit more maffs, it seems that if you just mine, right now, you'd make about $1.80/Gh/day. Coinlab is offering $2.50/Gh/day.

So.....

(1 - 1.8 / 2.5) * 7,083.39 == $1,938.3492

is the value these loyalty points are worth over just mining, at this moment. There is inherent risk in this though if the price of BTC increases dramatically or if difficulty falls. So my offer of $1k both seems reasonable and fair.

I'll let the offer stand for another 24 hours in case you'd like to reconsider.

I laughed at this.....sorry, but I could not help myself.  Yes, it is possible.....but so is drowning in a 5 gallon bucket. 

The value is much higher when you do a NPV calculation with even a VERY conservative assumption on future difficulty.  Your calculation is way too static. 

No need to leave your offer on the table, it is kindly rejected (again). 


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December 03, 2012, 09:58:03 PM
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$1000 is way more than I would offer we don't even know that coinlab isn't a scam yet
yochdog (OP)
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December 03, 2012, 10:13:54 PM
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$1000 is way more than I would offer we don't even know that coinlab isn't a scam yet

They are already paying out on the points through their redeem pool.  No one has claimed to be short-changed, and they have paid out every bitcent owed to miners leading up to the reward-halving.

Thank you for your input, Kyle.  It was very useful.   

I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
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December 04, 2012, 01:27:48 AM
 #8


  • Loyalty Points are not transferable.  


Sorry to be a naysayer, but selling Loyalty Points to other users is against our terms.

If you're interested in selling your Loyalty Points to us below expected value at current difficulty and BTCUSD rate (less than 28%), send us a PM though, we might be able to work something out.
jamesg
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December 04, 2012, 01:30:58 AM
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  • Loyalty Points are not transferable.  

Well there we go. Offer retracted.
yochdog (OP)
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December 04, 2012, 03:56:29 AM
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  • Loyalty Points are not transferable.  


Sorry to be a naysayer, but selling Loyalty Points to other users is against our terms.

If you're interested in selling your Loyalty Points to us below expected value at current difficulty and BTCUSD rate (less than 28%), send us a PM though, we might be able to work something out.

DAMN!

would I be allowed to merely give them the credentials, let them mine, then pass on the earnings?

Just hypothetical.....don't want to step on any toes......

I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
Jack1Rip1BurnIt
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December 04, 2012, 06:24:44 AM
 #11

Ouch! That must sting. Never cool when your girlfriend catches you playin' with your pecker, unless she's nice and offers to give you a hand. Take the deal  Grin

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December 04, 2012, 06:49:08 PM
 #12


  • Loyalty Points are not transferable.  


Sorry to be a naysayer, but selling Loyalty Points to other users is against our terms.

If you're interested in selling your Loyalty Points to us below expected value at current difficulty and BTCUSD rate (less than 28%), send us a PM though, we might be able to work something out.

DAMN!

would I be allowed to merely give them the credentials, let them mine, then pass on the earnings?

Just hypothetical.....don't want to step on any toes......

For legal reasons, we can't let anyone transfer them.  If we knowingly allow people to transfer, it could cause our entire loyalty point system to become classified as open loop prepaid access, which would require us to jump through a ton of legal hoops and make us need to follow a bunch of regulations.  We would likely need to AML every single miner, which we do not want to do.  

Sorry to disappoint you, but we just can't allow transfers.

yochdog (OP)
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December 04, 2012, 06:54:04 PM
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  • Loyalty Points are not transferable.  


Sorry to be a naysayer, but selling Loyalty Points to other users is against our terms.

If you're interested in selling your Loyalty Points to us below expected value at current difficulty and BTCUSD rate (less than 28%), send us a PM though, we might be able to work something out.

DAMN!

would I be allowed to merely give them the credentials, let them mine, then pass on the earnings?

Just hypothetical.....don't want to step on any toes......

For legal reasons, we can't let anyone transfer them.  If we knowingly allow people to transfer, it could cause our entire loyalty point system to become classified as open loop prepaid access, which would require us to jump through a ton of legal hoops and make us need to follow a bunch of regulations.  We would likely need to AML every single miner, which we do not want to do.  

Sorry to disappoint you, but we just can't allow transfers.



No worries!  Thanks for the clarification, you guys are awesome.

I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
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