Crazy question regarding asic/gpu hosting!

[kostagr33k]

Hey guys, Im brand new to this forum but have been a guest for quite some time. I had a crazy idea and just wanted to get some feedback on how crazy I may be.

My name is Kosta and live in North New Jersey, USA. I work as a linux engineer and have been a Linux Sysadmin for the last 10 years (man its been a while).

anyway my family has a warehouse in NJ and seeing that it has plenty of space and fairly cheap power, was wondering if there ever would be a need for dedicated BTC mining hosting? I'm trying to start up my own mining but as stated I have plenty of experience in the Admin/Engineering side of things that I may be able to provide something back to the community .

any way I hope this post is somewhat useful for someone, including myself!

thanks

kosta

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[Coinmining]

Hello all,


We can provide the same in Europe Belgium. We have a location of 3000m² available. On top of that, we have solar power available of 355000 kwh each year.

Interested parties can contact me in personal message.

[technocoma]

If you look around there is some people offering Co-location for rigs not sure how many people actually use it tho.

[cryptops00]

You can host your rigs at my house

[Prefinem]

If you had the capital, you could purchase mining rigs and then rent them out.  The paradox is, people will only pay less for what they can make with bitcoin, therefore it would be more profitable for you to run the miners yourself.

If you are looking for people to host their rigs there, you would have to have good security and the ability to have support staff for server reboots, etc.

[fernandezdec]

I'm willing to let you use my house to host the rigs as well. Hahaha Multiple locations for redundancy you know!

[Prefinem]

Multiple locations for redundancy doesn't make sense as if you mined with a rig, you can't have that rig in two places.

[dbru77]

If it was possible to "just buy a rig" and if I had the money I would do it.

I even thought of placing a few FPGA miners at our company because electricity is basically free (well, at least i do not have to pay for it) and I have control of the IT. But those miners are hard to get and a little bit expensive.

If you don't pay for power and you have money, buy some decent rigs and do it. Biggest problem is where to get rigs from lol
GPU mining may be an option but I think it is more difficult to setup a decent Hashrate compared to FPGA or ASIC.


Try mining LTC and convert them to BTC maybe? Whatever. I tried using like 5 or 6 PCs/server from our company for mining but that is really a waste of energy. Forget old GPUs, forget single GPUs, forget CPUs.
To get a hashrate which can pay your expenses in a short period of time you have to have really fast devices..late miners are basically fucked. "The [mining] world is yours" was valid before the block reward was split in half and when difficulty was low.
I really envy people who mined a few thousand coins and did not sell them until this year. Lucky bastards

[Prefinem]

What I would give for a time machine.

[dbru77]

What I would give for a time machine.

Exactly 

[kostagr33k]

lol @ most of the replies ;p


I was hoping a certain venture would work out from a building I knew of, but no go. I think my best bet is to reach out to the Datacenter contacts I have and see if I can work out something with them. I know they normally rape for Colo costs/power but it always helps when you know those people with extra unused space! And I think Datacenters are ideal  as they have all the on-hands people for reboots if needed and built in Power/Cooling.


I already tried GPU mining but my damn nvidia GTX680 is great for SC II and DIII but not for mining (was at 150Mhash/s before I quit mining that).

I will still try to get some form of ASIC and see if I can host it myself but would have loved to get some sort of "Group" together to avoid 100% of the risk. I am sure if I figure something out others may want to join if I decide to let others in on the empire!

Im local to NJ if anyone is interested in doing a local Newbie meetup to discuss BTC and brainstorm

[zerodrama]

https://www.kncminer.com/products/jupiter <- 250 GHs

[Prefinem]

There is the pyramming pool/scam

I think the idea behind it isn't a bad one, it just seems extremely scammish

[kostagr33k]

so out of curiosity how does someone "prove" they aren't a scammer? lets say I pull something off and I want to start some sort of mining farm based on shares? How does one prove they are legit and not a scammer?

[Prefinem]

I would say that if you want investors, you should pay them out at their investment rate (ie, if someone purchase 25% of a your hashrate then you pay them 25% of the bitcoin received minus a small fee and electricity rates.) every so often (day/week/month) based on what they choose.

This, a) means that those investing start getting rewarded as soon as they invest and b) will prompt more investment as their payouts are often, they will more likely reinvest their earnings.

So say I have an ASIC, I would put say 100 shares that are purchasable.  Its hashrate is X.  An investor purchases 10 shares.  Their bitcoin amount rate equals X/10*.95 (5% fee)-(electrical costs)/10.  This means that investors don't have to take a huge risk by purchasing small share amounts, the user running the ASIC recieves a 5% fee for maintaining/etc and the initial cost (if there are enough investors) is 0 or close too.

[kostagr33k]

But would people pay up front or only after the fact that a Unit is up and mining?