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Author Topic: [100 Ghps] "Catch 22 removal" service for new pool operators  (Read 3365 times)
Vladimir
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July 17, 2011, 08:22:05 AM
 #21

I would like to comment on "price is cheap" remark.

Please allow me to clarify. Price could be actually be very expensive. The thing is, I do not know it. I mentioned 10% as a starting price. It is a price below which I probably will not be interested at all, except maybe if there are no other bids and we are talking about fairly long term bookings.

From there it is basically a private closed tender or a rolling "first price, sealed bid auction". The highest "sealed bid" I receive on non booked capacity buy the service.

At the moment most of my capacity is engaged elsewhere, but it will get available again eventually.

I'll edit OP, to clarify this.

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grue
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July 20, 2011, 08:41:00 PM
 #22

I'm not trying to insult Vladimir, but his service make little sense. He is demanding special treatment (no fee PPS + 10% extra + paid for stales) just because he has a lot of hash rate. If a pool offered that to regular miners, everyone will be joining the pool in a heartbeat (who doesn't want 110% PPS?). one person pointed out this is more "stealthy" than just paying people to join, but do people really care that the pool owner paid a big miner to join his pool? people just care about low fees and low variance.

It is pitch black. You are likely to be eaten by a grue.

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July 20, 2011, 11:52:08 PM
 #23

Kudos to Vladimir for thinking up an innovative way to jump start a pool. It is creative.

I'm not trying to insult Vladimir, but his service make little sense. He is demanding special treatment (no fee PPS + 10% extra + paid for stales) just because he has a lot of hash rate. If a pool offered that to regular miners, everyone will be joining the pool in a heartbeat (who doesn't want 110% PPS?).
Exactly. I'd join in half a heartbeat.

one person pointed out this is more "stealthy" than just paying people to join
That was my thinking. Vladimir would basically be a shill.

Buy & Hold
cuddlefish
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July 20, 2011, 11:58:41 PM
 #24

hmm.

Wouldn't it just make more sense to just pay your initial miners out of your own pocket, pretending the pool had a higher hashrate?

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July 21, 2011, 04:36:49 AM
 #25

At the end it is a busines decision. IF I would like to go into a pool business, I would consider it.
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July 22, 2011, 01:55:05 AM
 #26

At the end it is a busines decision. IF I would like to go into a pool business, I would consider it.

Agreed I'm just waiting for my software to get perfect, then imma hire him on the spot to get the mining farm pool started Smiley
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July 22, 2011, 09:02:06 AM
 #27

At the end it is a busines decision. IF I would like to go into a pool business, I would consider it.

Agreed I'm just waiting for my software to get perfect, then imma hire him on the spot to get the mining farm pool started Smiley

Lucky you. I go the other way - put together 100 giga myself Wink
Jack of Diamonds
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July 22, 2011, 03:05:13 PM
 #28

At the end it is a busines decision. IF I would like to go into a pool business, I would consider it.

Agreed I'm just waiting for my software to get perfect, then imma hire him on the spot to get the mining farm pool started Smiley

Lucky you. I go the other way - put together 100 giga myself Wink

Have fun spending $50,000-$70,000 dollars just on the GPUs (and that's with mass discounts)... Not to mention power supplies, motherboards, electricity consumption, fortified fuses, processors, professional cooling, rent and guarding fees for massive racks

Tbh, renting his mining power at just some % over normal PPS rate is a bargain,
I don't see why people are so skeptical or against it

I'm usually very skeptical against all sorts of BTC ventures (and still am about buying 1ghps for £400 per month, to be honest),
but variance stabilization of a pool makes perfect business sense for both parties of the deal.

You'll make much more eventually as the pool owner when it gets going, if you stagnate at 1-5ghash you'll never grow and will likely die from just a few consequent unlucky blocks

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NetTecture
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July 22, 2011, 04:33:09 PM
 #29

Quote
Have fun spending $50,000-$70,000 dollars just on the GPUs (and that's with mass discounts)... Not to mention power supplies, motherboards, electricity consumption, fortified fuses, processors, professional cooling, rent and guarding fees for massive racks

I have. 390 square meters secured, contract signed monday. Place for 7 clusters od 12 racks of 16 computers each - more than I can cool and handle power wise with the current 1.5 megawatt power station right behind the hall Wink Fenced and secured as it is part of a factory complex Wink

Electrician comes monday Wink

First 3 cards online in a test setup. 100 pci-e express raisers orderd and stuck in customs, another 100 with molex power splice and 100 dual power start cables pending final proposal from manufacturer (monday).

5 cards coming tuesday (and 3 go online then), together with the next 12 power supplies (2 Iahve) for the first 8 computers. Small stuf ready for toal of 3 computer, another 5 ordered tuesday.

33 cards coming august 2nd Wink

Planning to have 3 half-racks online end of August - a total of 14 graphics cards Wink Should be around 60 giga Wink Cooling via blowing hot air out of the roof (which we open and install undistrial fans in - sucking up 18.000 cubic meters air per hour each) Wink

Should I say that as long as this is profitable post depreciation we will add one half-rack per month Wink This is btw at around a third the current income Wink

Quote
You'll make much more eventually as the pool owner when it gets going, if you stagnate at 1-5ghash you'll never grow and will likely die from just a few consequent unlucky blocks

Not sure thee is any serious money in that Wink But the 1-5 Gigahash comment is correct. I wont ever understand why people go into pools that simply wont solve a block in a difficulty except being really lucky.
Jack of Diamonds
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July 22, 2011, 05:42:56 PM
 #30

That's good for you. I also run a 20ghash cluster @ datacenter but have recently sold off some hardware due to unprofitability, down to 15gh

I think it's insanity to add more HW at a point in time during which your investment will likely never be fully recouped (unless gambling on massive future price hikes) but if you or your investors have the money then go for it

People like Vladimir bought their hardware long ago and have made profit for months, I can understand keeping them online,
adding 100ghash/s more capacity at this point seems nuts but you've made your calculations & predictions

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NetTecture
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July 22, 2011, 06:14:13 PM
 #31

That's good for you. I also run a 20ghash cluster @ datacenter but have recently sold off some hardware due to unprofitability, down to 15gh

I think it's insanity to add more HW at a point in time during which your investment will likely never be fully recouped (unless gambling on massive future price hikes) but if you or your investors have the money then go for it

People like Vladimir bought their hardware long ago and have made profit for months, I can understand keeping them online,
adding 100ghash/s more capacity at this point seems nuts but you've made your calculations & predictions

No investors - I take it out of our cash flow, and I always say - if that blows, I am a HUGH seller of used graphics cards into the december market Wink

But "a datacenter" does normally not work - I figured out I save with 16 machines more moeny in electricity than it costs me to rent the place Wink Industrial power is a lot cheaper here than private. I get cost + double depreciation with 50% of the BTC sold at this price and I am limiting my risk ro around 30.000 EUR which is not that much money - will make a dent in my yearly profit, but not one that is not worth the risk.

Problem is for me - I run a company and make quite a lot of money. Runnign 3 servers just is not worth it. I HAVE to make at least 500 USD a day to make it worthwhile my time.
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