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bitdriller
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July 01, 2011, 08:12:27 PM
 #1

BitDriller
Hello BitCoin.org forum members!
As some of you may know from our show today with OnlyOneTV, we are launching a new service called BitDriller.com. We're offering everything from contracts, to rigs to investments. Better yet, we're going to be allowing other to buy/sell mining hardware, contracts etc. as well. If you have any questions, reply below and we'll answer!

As of now we are offering 2 services:

Investing:
What you get and for how much: You purchase a mining rig with approximately 3 Ghash/s+ speeds from us for 3450$. Our rigs are not the most efficient in terms of $/Ghash/s, but we chose them because they use high end and sought after parts. This means that you can later sell this rig for profit.

How you profit: After your purchase, your rig is hosted in our facilities where you can put it to work mining bitcoins from a pool or fulfilling mining contracts for our clients or your private clients. We take care of upkeep, repairs, electricity, tweaking etc. and you don't pay a penny beyond the 3450$. In exchange, we keep 25% of your BitCoins if you're mining from a pool. If you're fulfilling contracts, we split the USD profits 75/25 in your favor. This way you can choose payout in BitCoins or in USD.

Payout frequency: The payout is monthly, but to avoid transaction fees with the USD we can space them out more at your request.

Length of investment: We require that you keep the rig with us for a minimum of 6 months, after which point you are free to sell it (we will ship it to the buyer for your) or reclaim it (we'll ship it to you). In both cases you pay for shipping, but nothing else. You can choose to keep the rig with us for more than 6 months if you'd like. We'll keep your rig for up to a year. After that, we request that you upgrade the hardware (after a year new GPUs will have come out rendering your older one obsolete).

Renewal process: We will sell you this upgrade for less than it costs us and install it free of charge with the condition that you keep the rig with us another 6 months. This means that you pay a one-time fee of 3450$ and can then keep the rig with us for life for a yearly upgrade worth more than it costs. If you want, you can split this investment with you and some friends you trust, but we will only deal with one payout account per investment so make sure you trust him to pay you fairly.

Contracts:
Benefits: These are shorter-term investments in which we rent our current hashing power to you. We guarantee the expected amount of bitcoins and zero downtime. You pay nothing but a one-time fee. Electricity, upkeep, software configuration etc. is all on us.

What's available: Currently we are offering a 3 month 1Ghash/s contract pre-order for 1500$, with an additional free month for those who pre-order in the coming weeks. Investors willing, we will also be offering a 1 month Ghash/s contract at 350$ pre-launch. Eventually we will be offering contracts ranging from 100 Mhash/s for two weeks to 10 Ghash/s for a year. We also have a 10% discount code available for onlyonetv.com viewers. Go see episode 19 to find their promo code!

Profitability: If you take advantage of all these promotions, your cost for 4 months is 1350$ or 337.50$ per month. At the current expected returns levels, you would make roughly 350-370$ worth of bitcoins per month. This ends up being cheaper than purchasing BitCoins.

New: We will be offering a 1 month 1 Ghash/s contract pre-order for 350$ US! Stay tuned!


Note: we will be editing this post a lot to reflect current developments and adding the answers to the more frequent questions.
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Dobrodav
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July 01, 2011, 08:52:39 PM
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Well, it is good site. But in first stages you should proove that you are deserve trust. That is really hard to do that. Maybe some short term contracts first ? Starting from week, and then more ? Because your need start up, and it is hard to start up from current terms.

We will  meet in not-so-distant future.
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Yesterday`s  strange music:
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bitdriller
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July 01, 2011, 09:42:20 PM
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What would you think of a 1 month 1Ghash/s zero-variance contract prices at 350$ US?
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July 01, 2011, 11:07:17 PM
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Do you take no fee if we're solo mining?

bitdriller
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July 02, 2011, 12:26:43 AM
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What fee are you referring to? If we are hosting your rig (investment) we take a 25% fee of your total BTC earnings. In exchange we pay for electricity, maintenance, software and security. If you are referring to a contract, we take no fee whatsoever after you've paid the cost of the contract.
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August 08, 2011, 06:20:44 AM
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Price of bitcoins would have to be at $21.5 just to break even on a 1 Gh/s contract for one month at $350.

I'm pretty sure no one is signing up for any of these contracts anytime soon.

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