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Author Topic: How should I split earnings with my friends?  (Read 1140 times)
Chick
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June 11, 2011, 07:29:39 PM
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So here's the deal.

I have two rigs. The first I fully paid for. The second was paid 50% by my friend and I.

I was wondering how to do this. I currently mine in a pool for Bitcoins.lc. I told him that I would give him 25% earnings of the 2 rigs to him but I don't think this'll work out correctly.

Do any of you guys do something similar to this? I currently have 8 5830s, should I just dedicate the power of 2 of them to him?

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Dien5Daze
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June 11, 2011, 07:32:15 PM
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You could just dedicate 2 gpus to him, but who is paying the electric bill?
tysat
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June 11, 2011, 07:33:17 PM
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I'd dedicate 2 GPUs to a separate account and take a little bit off of it if you're paying for the electricity.
bcpokey
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June 11, 2011, 07:33:31 PM
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Take it all and run!
Chick
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June 11, 2011, 07:33:38 PM
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You could just dedicate 2 gpus to him, but who is paying the electric bill?

I am, but he paid a considerable amount more for the parts, so I think it should equal out.

Chimel
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June 11, 2011, 09:03:19 PM
 #6

I'm confused, you now say he paid more, but you said he paid 50% of one rig in your first post.
The only fair distribution is that he gets his share only from the rig he participated in paying for, not the other one you paid fully yourself.
If he paid 60% of the other rig, he gets 60% of the bitcoins mined by that rig (use a different pool if it makes computations easier) minus 60% of the electricity cost of that rig (assuming you're the one paying the bill.) Buy a Kill-A-Watt to check how much power the rig uses.
If the rig is responsible for 10% of your home, electricity cost is 10% of the fixed bill plus 10% of every KW range.
You probably need to do the computation only once, and set his electricity bill as a fixed charge.
You can both decide whether his electricity bill is either paid in cash or deduced from his mining rewards at the current change rate at the end of each period.

You obviously need his approval for this change, since you already agreed on 25% of both rigs' mining.
CentroniX
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June 11, 2011, 09:19:07 PM
 #7

Nothing can ruin a good friendship like money can. If you've already made a deal, be careful how you approach him, if it's a friendship you value. At the end of the day, he's going to see it as you trying to cut him out of money you already agreed to give him, which is probably why he was willing to put up the cash for the rig in the first place; This was an investment he made, based off the options he was presented at the time.

I've lost two friends to things like this, one of which was a friend for years. Looking back now, it wasn't worth it. Good luck!
Justsomeforumuser
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June 11, 2011, 09:27:47 PM
 #8

Are you going to share ad infinitum?

Until his investment is paid out plus X? What?

Depending on this, you could simply do a variation, i.e. if you offer him a payout with interest, simply pay him everything after costs until he is paid off, then seperate the deal and only mine for yourself.

If you offered to pay him a share forever then if you are really being fair, you might give him the equal proportion of income from the rig he paid for 50% after costs, i.e. if he paid for 50% of rig II, he gets 50% of profit from rig II, too.

Whatever you do, make sure he is over 9000% content with the solution however.
As has been pointed out: money and friendship is rarely a good idea.

Ho-Hum.
MCWey8
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June 11, 2011, 09:30:40 PM
 #9

keyword = friend

give him 50% ! What are friends for Cheesy


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