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Author Topic: Selling mining contracts from $0.24/mhash per month  (Read 1218 times)
Adam
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June 24, 2011, 04:57:47 PM
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I have 14 units of mining capacity currently available for leasing.  Each unit is 250 mhash/sec and is zero variance.  The lease rate depends on the terms, with more favorable rates for longer term leases.  With leases there you receive zero variance payments daily.  A one month lease is $120, two months is $220, three is $300, and additional months are $60/month all paid in advance.  That's as low as $0.24 per mhash per month.  Months are always considered 31 day periods.  Compare that with the prevailing rates.  If you rented 1 ghash from me for 4 months it would cost you a total of $1440 ($360 x 4), while others would charge 1760GBP, which is more than double.

Payments will be based on the rate determined here http://www.btcserv.net/bitcoin-calculator/, which at the current difficulty level is 0.18232btc/day per unit leased.  As a bonus to my first customers and because I have a bunch of bitcoins sitting doing nothing, I'll give you at least one week of earnings in advance upon receiving payment.  So instead of receiving payments of .18232 BTC a day, I'll send you 1.27624 btc the first day (or more, haven't decided yet) and count that against your future earnings.  In the end you'll get the same amount of coins as if you were paid daily, but this way you'll get them quicker and I won't have to make as many small payments.

I also have an option where you can own the mining equipment and I will operate it for you for a small fee. The cost to own the rig would be $220 per 250mhash unit, and it would represent a rig with Radeon 5830s, 1 GB ram, a flash drive, and a sempron 140.  You own the equipment and at any time can shut it down and ask me to mail you the hardware (you pay shipping costs) or sell it for you and give you the proceeds.  The computers are online now, and you get daily dividends.  I operate them for you for $1.50/day in upkeep until it becomes unprofitable or you want to stop.  If something breaks while you are paying upkeep I replace it for you at my expense.  If there is downtime I cover it for you.  You can buy individual units (250 mhashes), so you can own just one unit for $220, but in order to redeem for a full rig you would need at least two shares and to pay for shipping from the east coast of the USA.  

I would prefer payment via some method with no chargebacks, so I will gladly accept bitcoin or Mt. Gox transfers when they reopen.  If you have any questions please post or PM.  

This isn't super relevant to the mining operation, but if you are worried about security, I also have an ebay business with nearly 10,000 feedback and monthly sales of around $30,000.  You will have all my details to see that I am legit.


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barrymac
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June 24, 2011, 05:07:44 PM
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Interesting idea. Would $100 a month even pay for the energy bill for running your hardware?
Adam
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June 24, 2011, 05:12:32 PM
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Interesting idea. Would $100 a month even pay for the energy bill for running your hardware?

Electricity on one unit is just under 200 watts, or about 5 kilowatt hours per day, or 155 kwh in a month.

Seldan90
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June 24, 2011, 05:16:15 PM
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200$ per unit? so basicly for 800$ I could buy 4 of your units, have them run for 4 months, get what you offer in 4 months at a 500$ cheaper rate AND get to keep the units?

Am I the only one who think that would be too good to be true?
Adam
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June 24, 2011, 05:18:33 PM
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200$ per unit? so basicly for 800$ I could buy 4 of your units, have them run for 4 months, get what you offer in 4 months at a 500$ cheaper rate AND get to keep the units?

Am I the only one who think that would be too good to be true?

When you buy the units and I operate them there is an upkeep cost associated with it of $1.50/day per unit.  So in your example 124 days x 4 units x $1.50 = $744 plus the cost of hardware.  In exchange for this I pay for utilities, give 100% guaranteed up time, and replace any hardware that fails at my own expense.  In effect though I deduct the $1.50 from your daily payments, so you wouldn't be paying the $744, you would just be earning that much less.

Seldan90
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June 24, 2011, 05:22:14 PM
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I overlooked the 1.5$ daily upkeep

What shipping method would be used? I live in West Europe I'd like to know how much I can expect it to cost me to ship some of your units
Adam
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June 24, 2011, 05:26:44 PM
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I imagine international postage would eat up a lot of the value, but I don't know exactly how much it would cost since in my normal business dealings I sell exclusively to the US and am not familiar with international rates.  It would ship from Maine in the United States if you want to figure it out, and I could use any method you want.  A rig would weigh between 10-15 pounds depending on the number of cards you bought, and a lot more if you want the case shipped with it.

chungenhung
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June 30, 2011, 03:49:43 AM
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it would help if you can show your username in ebay, so people can contact you at ebay to verify that you are the same person here and there.
Just a thought.

Trading MtGox USD for Dwolla/ACH deposit/Chase cash deposit
https://bitcointalk.org/index.php?topic=90115.0
Buy/Sell Call/Put Bitcoin options https://bitcointalk.org/index.php?topic=99853.0
Adam
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June 30, 2011, 07:46:12 PM
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it would help if you can show your username in ebay, so people can contact you at ebay to verify that you are the same person here and there.
Just a thought.

I will of course disclose my identity to interested buyers and contact them through ebay to verify it, I just see no reason to throw it out there in the public.

vector76
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June 30, 2011, 09:24:47 PM
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Are any of these still available?

What I am looking for is to lease hashing power.  I am not interested in a stream of btc, and I would prefer not to own the hardware if I know I am going to have to unload it.

I would like to set up my own mini-pool and have your system(s) contribute hashing power to my mini-pool.  I will accept the risk if my pool suffers glitches.

My software is not yet set up but I hope to have it ready next week.
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