byteminr - new entrant in hosted hashing

[byteminr]

Hi Everyone

We're really pleased today to announce our new Bitcoin mining service is open for expressions of interest:



We believe there is a place for hosted mining services especially as good quality mining equipment carries a high price.

We're looking for feedback on our potential offers while we get our systems in order for launch in late September, inline with deliveries from KnCMiner.

Our website is: www.byteminr.com

We are a UK registered company (allbeit a very new one like most in the Bitcoin industry) but we intend to offer hosted mining services world-wide.

We welcome all feedback, directly through our website or on this forum as we'll be adding to the (currently small) FAQ as questions arise.

Adrian Cole
Founder
BYTEMINR Limited

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[r1senfa17h]

Wow, that's quite the markup @ $44.60/GH/s through $47.50/GH/s compared to the ~$18.50/GH/s you're getting for those KnC Jupiters. You're barely below BFL's $50/GH/s. Obviously, a hosted solution deserves a premium for the service. I just think your price point may be a tad high for the current market.

Please don't see this as an attack, I aim to give honest feedback. I hope you do well with this and admire your entrepreneurialism!

[byteminr]

Thanks for the feedback, not an attack at all. A fairer comparison would perhaps be with cloudhashing.com, where we compare more favourably. Paying for a hosted service is quite different proposition from owning your own kit and all the troubles that go with it.

Cheers

[Altoidnerd]

Would love to see contracts for normalized hashing power, a concept that accounts for network difficulty by dividing out the difficulty.  12 months of 100 GH/(s•difficulty*10^6)...

This type of investment is interesting to me.  I like it.  The eternal question plagues anyone who is interested in buying expensive mining hardware - what will be the network difficulty XYZ months from now?

In the case an investor purchases his/her own mining equipment, the resale value of the equipment is a nice insurance policy.  How could a company offering a hosting service pass that insurance policy onto investors?

A startup can't really.  Investors need to trust in management to make decisions to improve hardware logically as the network difficulty rises.  Once your company has a name for itself, I envision a product of the normalized hashrate flavor being popular.

[Altoidnerd]

Would love to see contracts for normalized hashing power, a concept that accounts for network difficulty by dividing out the difficulty.  12 months of 100 GH/(s•difficulty*10^6)...

The challenge I see with that is where the risk lies...

That's exactly it. Perhaps then the answer is shorter contracts.  12 months seems distastefully long from my perspective, if we are talking about a fixed hashrate. 

12 months probably seems like an eternity to offer a sliding normalized hashrate.

How about 1 month?  3 Months?  What is the magic number that makes it a win/win?

[a28hz]

Hi Adrian,

Have you placed some orders? are those for day-1 delivery?

[byteminr]

Hi Adrian,

Have you placed some orders? are those for day-1 delivery?

Hi

Yes, we do have a limited number of units on order already for day 1, with more to follow depending on customer demand.

We'll be providing some more information in the next major website update soon, sign up to our newsletter to keep informed!

Adrian

[Youngbill]

Just sent an "Interest" note from your web site.

Bill

[Altoidnerd]

That's exactly it. Perhaps then the answer is shorter contracts.  12 months seems distastefully long from my perspective, if we are talking about a fixed hashrate. 

I'm not opposed to this at all actually, more inclined to 3 months than 1 but nevertheless, I can see the merit in it for sure.

Keep in touch, I will be following your business in the coming months. 

aside; I am interested in your relationship with KnCMiner.  They also offer a hosting service.  I understand your top gun and theirs are brothers?

[redmetal]

I would be interested for your day one releases if you offered a shorter contract, ie 6 months, would love a higher hash rate offer also, like 50gh/s for 6 months at $1,000 seems fair

[byteminr]

Keep in touch, I will be following your business in the coming months. 

aside; I am interested in your relationship with KnCMiner.  They also offer a hosting service.  I understand your top gun and theirs are brothers?

Thanks, yes this is true, our CEO, Adrian Cole, is the bother of Sam Cole at KnCMiner.

KnCMiner are offering hosting for their customers who have the pleasure of being able to buy their own box in full.

byteminr will be offering flexible hosting options at lower entry price points to try to ensure mining is not contained only to the hands of the wealthy.

Other benefits are immediately apparent also, as the difficulty rises you can easily flex your contracts in a hosted model, owning fixed power hardware means a small jump in power is a very costly exercise as you need to buy a whole new rig.

I can't say much more about our offers just yet, but I believe anyone interested in mining will be pleased to have the options we will provide.

[Altoidnerd]

Keep in touch, I will be following your business in the coming months. 

aside; I am interested in your relationship with KnCMiner.  They also offer a hosting service.  I understand your top gun and theirs are brothers?

Thanks, yes this is true, our CEO, Adrian Cole, is the bother of Sam Cole at KnCMiner.

KnCMiner are offering hosting for their customers who have the pleasure of being able to buy their own box in full.

byteminr will be offering flexible hosting options at lower entry price points to try to ensure mining is not contained only to the hands of the wealthy.

Other benefits are immediately apparent also, as the difficulty rises you can easily flex your contracts in a hosted model, owning fixed power hardware means a small jump in power is a very costly exercise as you need to buy a whole new rig.

I can't say much more about our offers just yet, but I believe anyone interested in mining will be pleased to have the options we will provide.

Totally.  I think its safe to say nobody understands the economics of this stuff yet, but I appreciate the go getters giving it a shot.  Good luck to you!

[crossblaim]

I'm interested but your "express interest now" form seems to be broken

[byteminr]

I'm interested but your "express interest now" form seems to be broken

Thank you, a little embarrassing, should be all fixed now. We had a small issue with a change we pushed overnight.

[wirmola]

Interesting waiting anxiously for September..

[byteminr]

We are pleased to announce that www.byteminr.com  is now open for orders.

We had a few early issues with the checkout process, but it's running smoothly now. Please drop by and check out our fixed and flexible offers, feedback is always welcome.

For now it's just Google Wallet for payment, we'll be adding other options later, but it's a soft launch of our new site.

Crossing our fingers for delivery from KnCMiner on time!

The byteminr team

[redmetal]

We are pleased to announce that www.byteminr.com  is now open for orders.

We had a few early issues with the checkout process, but it's running smoothly now. Please drop by and check out our fixed and flexible offers, feedback is always welcome.

For now it's just Google Wallet for payment, we'll be adding other options later, but it's a soft launch of our new site.

Crossing our fingers for delivery from KnCMiner on time!

The byteminr team

Good to hear!
I'm keen on buying a shoter term, so I don't think I will partake in this round.

[byteminr]

We do have some short 2 month plans, or are you looking for even shorter?

[redmetal]

We do have some short 2 month plans, or are you looking for even shorter?

My apologies, I only looked at the front page, It's a little hard not to purchase 12months when 6months on 10ghs is only $12 less,

[androz]

hi

google wallet is the only mean of payement?
u don't accept bank transfer or paypal? if yes, when?

[byteminr]

hi

google wallet is the only mean of payement?
u don't accept bank transfer or paypal? if yes, when?

For the moment, yes just Google Wallet. We will be adding other option as soon as we can.

[byteminr]

We do have some short 2 month plans, or are you looking for even shorter?

My apologies, I only looked at the front page, It's a little hard not to purchase 12months when 6months on 10ghs is only $12 less,

When it comes to mining, efficiency is all about getting your hashing done quickly before the difficulty rises too fast. With our flexible contracts we will be allowing customers to buy additional GH per month on a monthly basis. So if you are 3 months into a 4 month contract and want to increase your power in the final month, you'll be able to do so for a very favourable rate - this is the major benefit to the flexible contracts.

On a fixed term 12 contract, you get the same power for the whole term, no changes. Your mining returns will obviously be much lower toward the tail end of the contract, hence the price for those later months is much much lower, but what it gives you is simplicity.

[byteminr]

hi

google wallet is the only mean of payement?
u don't accept bank transfer or paypal? if yes, when?

Just to let everyone know, we are now accepting Bitcoin payments through Bitpay.

Hashing still expected to start at the end of September.

Adrian
www.byteminr.com

[byteminr]

Less than 9 days to go!

Will KnC deliver ?!!?

The biggest countdown in Bitcoin right now is underway that's for sure!

www.byteminr.com

[byteminr]

A teaser video from KnC!

http://www.byteminr.com/news/2013/9/23/pcbs-are-almost-ready

Hashing launch is getting closer!