Bitcoin Forum
June 22, 2021, 05:11:32 AM *
News: Latest Bitcoin Core release: 0.21.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: 1 2 3 4 5 6 7 8 9 [All]
  Print  
Author Topic: .  (Read 50853 times)
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
.
January 20, 2011, 01:52:35 AM
Last edit: June 01, 2013, 01:02:50 AM by Vladimir
 #1

_

-
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1624338692
Hero Member
*
Offline Offline

Posts: 1624338692

View Profile Personal Message (Offline)

Ignore
1624338692
Reply with quote  #2

1624338692
Report to moderator
1624338692
Hero Member
*
Offline Offline

Posts: 1624338692

View Profile Personal Message (Offline)

Ignore
1624338692
Reply with quote  #2

1624338692
Report to moderator
1624338692
Hero Member
*
Offline Offline

Posts: 1624338692

View Profile Personal Message (Offline)

Ignore
1624338692
Reply with quote  #2

1624338692
Report to moderator
FreeMoney
Legendary
*
Offline Offline

Activity: 1246
Merit: 1014


Strength in numbers


View Profile WWW
January 20, 2011, 02:13:56 AM
 #2

Very interesting. Once we pay the set up fee can we transfer rights to the calcs? Is the set up fee one time only? Can we go for 3 or 10 years?

I realize you are the only one selling in bulk like this now, but is there any reason to think you have good permanent efficiencies compared to future possible providers? Like cheap electricity, the most efficient cards or something else?

Is there a possibility of you selling some small capacity with with no start up cost, but a higher monthly rate? This would allow you to take some small customers like myself without us having to form little unions.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
Anonymous
Guest

January 20, 2011, 02:37:03 AM
 #3

http://bitcointalk.org/index.php?topic=2884.0



You might be interested in this freemoney.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
January 20, 2011, 02:51:19 AM
Last edit: April 03, 2013, 09:07:49 AM by Vladimir
 #4

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
January 20, 2011, 02:56:53 AM
Last edit: April 03, 2013, 10:23:11 AM by Vladimir
 #5

.

-
Sultan
Full Member
***
Offline Offline

Activity: 214
Merit: 100


View Profile
January 20, 2011, 10:14:45 AM
 #6

Would this kind of setup (on current difficulty) find a block or two every single day?

http://images.onbux.com/banner.gif
I then use the money to buy BitCoins. You can too!
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
January 20, 2011, 10:26:37 AM
Last edit: April 03, 2013, 09:25:09 AM by Vladimir
 #7

.

-
dingus
Full Member
***
Offline Offline

Activity: 126
Merit: 100



View Profile
January 20, 2011, 03:52:44 PM
 #8

So for ~$300 a month you get about double the hashes/s than a single 5970?

ding·us/ˈdiNGgəs/
Noun: Used to refer to something whose name the speaker cannot remember, is unsure of, or is humorously or euphemistically omitting
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
January 21, 2011, 06:31:40 AM
Last edit: April 03, 2013, 09:25:17 AM by Vladimir
 #9

.

-
nanotube
Hero Member
*****
Offline Offline

Activity: 482
Merit: 501


View Profile WWW
January 21, 2011, 07:30:07 AM
 #10

nice service, and i wish you best of luck with it.

but for your information:

190*12+1600 gbp = 3880 gbp = 6176 usd

at 6176 usd, at a price of .4 usd, you can get 15440 btc

at 1 ghps, with current difficulty, avg time per block is about 1 day. so you can generate 365 blocks per year with this, or 365*50 = 18250 btc

however, difficulty will almost certainly go up from where it is now. in fact, at the next estimated difficulty of 22037.22945411, your expected yearly generation at 1ghps is already down to 16590 btc or so.

so, it seems a better deal, if you have the 3880 gbp to spend on this, to just buy bitcoins on the marketplace at current market price.

Join #bitcoin-market on freenode for real-time market updates.
Join #bitcoin-otc - an over-the-counter trading market. http://bitcoin-otc.com
OTC web of trust: http://bitcoin-otc.com/trust.php
My trust rating: http://bitcoin-otc.com/viewratingdetail.php?nick=nanotube
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
January 21, 2011, 09:48:04 AM
Last edit: April 03, 2013, 09:08:51 AM by Vladimir
 #11

_

-
FreeMoney
Legendary
*
Offline Offline

Activity: 1246
Merit: 1014


Strength in numbers


View Profile WWW
January 21, 2011, 10:10:37 AM
 #12

nice service, and i wish you best of luck with it.

but for your information:

190*12+1600 gbp = 3880 gbp = 6176 usd

at 6176 usd, at a price of .4 usd, you can get 15440 btc

at 1 ghps, with current difficulty, avg time per block is about 1 day. so you can generate 365 blocks per year with this, or 365*50 = 18250 btc

however, difficulty will almost certainly go up from where it is now. in fact, at the next estimated difficulty of 22037.22945411, your expected yearly generation at 1ghps is already down to 16590 btc or so.

so, it seems a better deal, if you have the 3880 gbp to spend on this, to just buy bitcoins on the marketplace at current market price.

Thank You.

Though, your calculations are off by more than 10%. Moreover, try to buy that many BTC on open market and price will rise way over 0.5$


Barely over .50 actually. There are 20k BTC at .51 on mtgox atm.

On the other hand if there is a lull you could pick up extra blocks at lower difficulty with this service. Not that I think that's likely. Another perk is that you will probably get a few fees, more if things really start popping.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
January 21, 2011, 10:29:45 AM
Last edit: April 03, 2013, 09:08:59 AM by Vladimir
 #13

_

-
FreeMoney
Legendary
*
Offline Offline

Activity: 1246
Merit: 1014


Strength in numbers


View Profile WWW
January 21, 2011, 10:33:46 AM
 #14

Quote
... try to buy that many BTC on open market and price will rise way over 0.5$


Barely over .50 actually. There are 20k BTC at .51 on mtgox atm.

On the other hand if there is a lull you could pick up extra blocks at lower difficulty with this service. Not that I think that's likely. Another perk is that you will probably get a few fees, more if things really start popping.

correct, though imagine for a second that  you are not only one market participant buying  Grin

anyway my prices are based not so much on current price of BTC but on cost of running the service.


Sure, even if you try to get it in one shot I imagine some buys might be triggered automatically or something. Of course there could be a lot of dark pool offers in there too. And of course you can do it on multiple markets. No certainties for sure.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
BitLex
Hero Member
*****
Offline Offline

Activity: 532
Merit: 501


View Profile
January 21, 2011, 12:18:55 PM
 #15

anyway my prices are based not so much on current price of BTC but on cost of running the service.
it's still a quite expensive service.

being located in one of those countries that "..are at the end of the list.." (~$0.29US per kWh) i'm always looking for alternatives to mining-on-my-own-at-home.

nevertheless just building a brand new dual-5970-system and running it on my own would still be a lot cheaper than your offer, actually i could run up to 4x 5970 for the same (monthly) price, paying twice as much for energy than you do (according to your post here).

Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
January 21, 2011, 02:30:15 PM
Last edit: April 03, 2013, 09:09:06 AM by Vladimir
 #16

_

-
Mahkul
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


Every saint has a past. Every sinner has a future.


View Profile
January 21, 2011, 02:38:28 PM
 #17

Bitlex,

  Good point. Though.. Have you used in your calculations only cost of  eneregy? Are there taxes in your country? Are you going to house your servers in open field by an electricity pole? Would you spend no time on all of this? Would you expect no expenses other than hardware and electricity? Feel free to build a biz plan based on such assumptions and compete with me. I'll be happy to provide a refuge to your running customers once you go belly up.

That's true, but building PCs is fun. Smiley
BitLex
Hero Member
*****
Offline Offline

Activity: 532
Merit: 501


View Profile
January 21, 2011, 03:02:31 PM
 #18

of course i need housing, a connection and stuff,
still energy is the most expensive part.

and when i look for alternatives because of my high energy-costs (i don't wanna compete, hopefully some others will), i won't take those that are even more expensive.  Wink

Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
January 21, 2011, 03:42:24 PM
Last edit: April 03, 2013, 09:09:13 AM by Vladimir
 #19

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
January 27, 2011, 06:56:54 PM
Last edit: April 03, 2013, 09:09:21 AM by Vladimir
 #20

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
January 29, 2011, 07:15:43 AM
Last edit: April 03, 2013, 09:09:30 AM by Vladimir
 #21

_

-
dust
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000



View Profile WWW
February 02, 2011, 08:39:19 AM
 #22

If i'm reading this correctly, these prices are ridiculous.  ~12k USD to rent a 4x5970 box (~2GH/s) for a year?  That is around 3k USD in hardware and another 1-2k in electricity.

It appears that you (and other miners?) are buying out the global stock of 5970s, so this could be an attempt to monopolize bitcoin mining.  However, I can't see this tactic succeeding as there are still 58xx and 69xx cards available.

Cryptocoin Mining Info | OTC | PGP | Twitter | freenode: dust-otc | BTC: 1F6fV4U2xnpAuKtmQD6BWpK3EuRosKzF8U
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 02, 2011, 08:57:49 AM
Last edit: April 03, 2013, 09:09:37 AM by Vladimir
 #23

_

-
Anonymous
Guest

February 02, 2011, 09:15:59 AM
 #24

* buys shares in AMD.
ribuck
Donator
Hero Member
*
Offline Offline

Activity: 826
Merit: 1008


View Profile
February 02, 2011, 11:27:00 AM
 #25

If i'm reading this correctly, these prices are ridiculous

Consider Vladimir's 1GHhash/sec contract at £1203 per 3 months. That's £13.22 or $21.36 per day. According to the generation calculator, you can expect to generate 45 BTC per day. Therefore, if you can sell your generated BTC for $0.48 or more, you are winning. At the current price (say, $0.65), you would make a profit of $7.89 per day.

Of course the generation difficulty is likely to increase every 10 days or so, and you will generate fewer coins per day as time goes on. If the price of bitcoins rises fast enough, the venture will continue to be profitable. Otherwise, it becomes a losing proposition. There is certainly a risk, but right now the numbers add up.

One reason to consider this service is if you want to generate, but don't want the noise in your house.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 02, 2011, 12:07:16 PM
Last edit: April 03, 2013, 09:10:08 AM by Vladimir
 #26

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 02, 2011, 02:14:16 PM
Last edit: April 03, 2013, 09:10:14 AM by Vladimir
 #27

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 03, 2011, 02:32:07 PM
Last edit: April 03, 2013, 09:10:19 AM by Vladimir
 #28

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 09, 2011, 07:55:00 PM
Last edit: April 03, 2013, 10:28:00 AM by Vladimir
 #29

.

-
morpheus
Full Member
***
Offline Offline

Activity: 164
Merit: 100


View Profile
February 09, 2011, 08:29:30 PM
 #30

Do you accept bitcoin? Smiley
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 09, 2011, 08:34:20 PM
Last edit: April 03, 2013, 09:10:25 AM by Vladimir
 #31

_

-
morpheus
Full Member
***
Offline Offline

Activity: 164
Merit: 100


View Profile
February 09, 2011, 08:45:46 PM
 #32

Also if you think about it. Buying my service one effectively is buying bitcoins, without driving exchange rates up. Hence it is a Fiat -> BTC conversion vehicle, turning it into BTC -> BTC conversion machine would not make as much sense really.

True, but I have more bitcoin than cash right now, and it's easier to send bitcoin to the UK than USD.

I'm thinking about it. Smiley
talkinrock
Newbie
*
Offline Offline

Activity: 10
Merit: 0


View Profile
February 09, 2011, 08:46:34 PM
Last edit: April 10, 2014, 05:50:51 AM by talkinrock
 #33

EDITED by talkinrock
ribuck
Donator
Hero Member
*
Offline Offline

Activity: 826
Merit: 1008


View Profile
February 09, 2011, 08:51:07 PM
 #34

... I have more bitcoin than cash right now, and it's easier to send bitcoin ...

PM sent.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 09, 2011, 08:59:46 PM
Last edit: April 03, 2013, 09:10:34 AM by Vladimir
 #35

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 11, 2011, 01:54:17 PM
Last edit: April 03, 2013, 09:10:41 AM by Vladimir
 #36

_

-
ronaldmaustin
Full Member
***
Offline Offline

Activity: 143
Merit: 100


View Profile
February 13, 2011, 08:13:45 AM
Last edit: February 13, 2011, 08:25:13 AM by ronaldmaustin
 #37

Saw this thread in your sig and checked it out.  Interesting business.  At first, I thought, why is he betting against the Bitcoin?  This because, as pointed out, at current rates it is a good deal contrary to prior posts.  People are basically buying a futures contract on the Bitcoin.  But why, over the term of the contract, would you give up Bitcoins that are worth more than the value of the contract?  Simple answer . . . without the contract you would not have the future Bitcoins since you are using the contract money to buy the equipment.  At the end of the contract, you don't have the Bitcoins generated by the 5970's but you DO have the worlds largest private collection of 5970's.   Next to China and the US, you will probably have the worlds next fastest super computer.  Good business model and no risk. [I have a similar business model myself - I call it my credit card.] Hope someone competes.  Then again, I hope they don't and I hope your house burns down in an electrical fire, since you make it easy for non-technical people to mine Bitcoins and you are in competition with me :-)
ronaldmaustin
Full Member
***
Offline Offline

Activity: 143
Merit: 100


View Profile
February 13, 2011, 08:21:07 AM
 #38

In fact, if the increase in difficulty in mining could be calculated with reasonable probability, you could just sell futures contracts outright.  $3000 today buys you 5000 Bitcoins in March, for example.  You would have many more takers.  A moment ago I wanted your house to burn and now I 'm trying to help you get business.  Go figure.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 13, 2011, 08:42:21 AM
Last edit: April 03, 2013, 09:10:47 AM by Vladimir
 #39

_

-
ronaldmaustin
Full Member
***
Offline Offline

Activity: 143
Merit: 100


View Profile
February 13, 2011, 09:45:20 AM
 #40

In fact, if the increase in difficulty in mining could be calculated with reasonable probability, you could just sell futures contracts outright.  $3000 today buys you 5000 Bitcoins in March, for example.  You would have many more takers.  A moment ago I wanted your house to burn and now I 'm trying to help you get business.  Go figure.
I am working on this project full time now and have some help too. Competing with me will not be easy.

Before responding, just so you know where I'm coming from, let me say that you are well respected and known around here and I think there is very low risk in your offer and it is a genuinely good one that I would myself invest in if I had the money.  Your offer is a 'win-win' for both you and your customers.  But . . . competing with you would be very easy, I think, because the upfront investment is made by those buying the contract and, as pointed out in past posts, the contract cost well exceeds the equipment cost.  In fact, if I were as well known and trusted as you I would compete with you myself (if my mom would not mind losing the basement space).   But people don't know that I'd be around in three months, much less a year, or that I'd evaporate into thin air with their money. [EDIT- I meant "would not evaporate" ... Freudian slip?]  That is your advantage at this point.

And, as I previously said, I hate to even mention it because if my statements encourage others to compete with you, they are competing with me as well, since everyone mining is in competition with eachother.  But my gut still tells me that competition is a good thing for both of us on some level.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 13, 2011, 10:18:46 AM
Last edit: April 03, 2013, 09:10:56 AM by Vladimir
 #41

_

-
ronaldmaustin
Full Member
***
Offline Offline

Activity: 143
Merit: 100


View Profile
February 13, 2011, 11:25:56 AM
 #42

I do agree that my analysis does not take time and opportunity cost into account.  You are obviously an educated computer programmer with a diverse background and your time has a value and a cost.  As a full time job you might be able to make more doing other things rather than mining.  I was strictly figuring hardware costs and electricity.  I myself have 4 5970's running 24/7.  If I factored in all of the time spent going to and from stores to get the components, building the systems, getting the software running and tweaking the programs ... and added that to my cost, I would have to conclude the venture was not worth it at all.  

Having said that, I do think that so long as the upfront cost of the equipment is more than paid for by those buying contracts for GPU time, there is still a nice profit to be made by someone who values their time and skill set less than you do.  And where someone sees a profit, someone will act if there are no barriers to entry to compete.  Upfront cost is a barrier to entry in most businesses that does not appear to exist to a large degree in this case.  If someone would give me $2000 I could build them a box that runs two 5970's and I'd make a very small profit.  Better yet, I buy the box, plug it in at a little over $100 a month and break even in less than three months given current prices and difficulty.  Better still, THEY buy the box and I give them what I generate over the first three months.  Depends how one values their time, I guess.
ronaldmaustin
Full Member
***
Offline Offline

Activity: 143
Merit: 100


View Profile
February 13, 2011, 11:34:29 AM
 #43

Also, re-reading your post, you are speaking of economies of scale.  It costs a certain amount for me to run a couple of GPU miners.  It would cost less, per mining unit, for me to run five of them.  After that, I suppose I'd have to run new wires in my walls to carry the increased amperage and eventually have to move to  a data center, which would drive the price way up.  So, yes, your actual costs to "do it right" large scale would be much higher than I'm quoting as well.
ronaldmaustin
Full Member
***
Offline Offline

Activity: 143
Merit: 100


View Profile
February 13, 2011, 11:37:07 AM
 #44

Incidentally, I think you are in the UK, so I have no idea what you pay for 5970's (if that's what you use) but Frys here sells them for $599 with a $50 ongoing rebate from the manufacturer (Diamond), so $549 each.  Hard to beat, even online.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 13, 2011, 01:14:04 PM
Last edit: April 03, 2013, 09:11:02 AM by Vladimir
 #45

_

-
hendi
Newbie
*
Offline Offline

Activity: 57
Merit: 0


View Profile
February 13, 2011, 02:07:13 PM
 #46

Interesting discussion going on here! As a recent customer, let me give my 0.02฿:

I don't care if or how much profit vladimir earns with this service. First, it's a service, and like normal offline services for which I also have to pay I assume the person who offers it makes a profit. If not, why would he make this offer? And I have absolutely no problem with someone earning money with a provided service; in fact, that's what I do for a living, too.

Second, I just made a back of the envelope calculation how much it would cost me if I wouldn't use this service, but do the work for myself, by myself. Yes, if I only calculated the cost of hardware and electricity, than maybe it would be cheaper than using his service. But, I'd need a place to store these boxes, and either I'd have to pay for a decent DC, or I'd have to put these loud boxes somewhere in my home (no way!). I'd have to go around looking for the necessary equipment, do research for the best hardware, the best software, install everything, and tweak the settings. If I multiply the time needed for this with my hourly rate, vladimir's service is actually cheaper!

Of course I like to learn new stuff, but really, I've got more interesting things (for me at least) on my ToDo and ToLearn lists than building clusters and tweaking CUDA or Assembler code. So, if you don't have other projects that fulfill yourself, and find building clusters fun, than don't use this service but do it on your own! It'll definitely be a great learning experience! Maybe you could even offer an alternative service, e.g. with lower costs (use your own photovoltaics to produce the energy ;-)) or instant set-up. But if you have enough other stuff to do, use this carefree service Smiley
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 13, 2011, 10:45:41 PM
Last edit: April 03, 2013, 09:11:08 AM by Vladimir
 #47

_

-
dust
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000



View Profile WWW
February 14, 2011, 12:12:40 AM
 #48

I suspected you would implement that payment scheme. Undecided  For now I will just pay out customers portion of fees every week if it is > .01 btc.  This requires some trust as only I know what fees were collected.  Currently, fees are negligible so it doesn't matter too much.

Cryptocoin Mining Info | OTC | PGP | Twitter | freenode: dust-otc | BTC: 1F6fV4U2xnpAuKtmQD6BWpK3EuRosKzF8U
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 16, 2011, 09:17:27 AM
Last edit: April 03, 2013, 09:11:15 AM by Vladimir
 #49

_

-
Littleshop
Legendary
*
Offline Offline

Activity: 1316
Merit: 1000



View Profile WWW
February 16, 2011, 01:27:43 PM
 #50



You are falling into a 'mom's basement' trap. Even worse, you counting only cost of equipment and even comparing contract price to cost of equipment. Other posters at least counted cost of electricity as well. This would be all cool and dandy if there was no need for:
- shipping
- labour needed to assemble, test and deploy the rigs
- software development
- customer support
- public relations
- network and system management and monitoring
- insurance
- management
- accounting
- profit
 
  I've heard it all before, some claim that they can fit 4x5970's in a 3U box using water cooling and therefore fit 112 GPU's into a standard rack, some claim that one needs only hardware and electricity (or only hardware even) to run a mining rig. None of these people have real world experience running large computer farms or businesses. It is where the real world conflicts with fantasy.

  Very easy to build a biz plan with only hardware and electricity as costs. Trying to execute it without humongous cost overruns, is entirely another matter.

  As I said before, will be happy to give refuge to customers running from cowboy operators (if they have any money left).

  Ironically, every time I write responses, to such 'price too high' mathematicians, I count my expenses and profit margins and I have an urge to up the price another 10% or so.

+1

I am not commenting on the prices (though I think they are fair) but on the long term stability.  Doing this right costs money and doing it wrong will (in the end) cause failures.  With many machines running you can have all kinds of problems, especially if they are cobbled together, not close to identical and not well thought out. 

That being said... someone in a country with low electrical costs could be some serious competition. 

This is getting really interesting!

Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 16, 2011, 01:49:05 PM
Last edit: April 03, 2013, 09:12:57 AM by Vladimir
 #51

_

-
Txyru
Member
**
Offline Offline

Activity: 61
Merit: 10


View Profile
February 16, 2011, 07:17:45 PM
 #52

I love the low cost of electricity in Vancouver... around ~$0.05/kWh Smiley

Plus it rains all day every day.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 16, 2011, 08:55:42 PM
Last edit: April 03, 2013, 09:13:03 AM by Vladimir
 #53

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 20, 2011, 09:09:26 AM
Last edit: April 03, 2013, 09:13:09 AM by Vladimir
 #54

_

-
jav
Sr. Member
****
Offline Offline

Activity: 249
Merit: 250


View Profile
February 20, 2011, 12:56:03 PM
 #55

That being said... someone in a country with low electrical costs could be some serious competition. 

I currently live in Denmark and my understanding is, that electricity prices are actually sometimes negative here (!). That's because Denmark has a lot of wind energy and at peak times they just don't know where to dump all that energy. Well, I guess you have to be some sort of high-volume costumer to get these rates and can't just get them as an individual. But with renewable energy sources becoming more and more widespread, that will probably change pretty soon as well. Since it will actually be pretty important for the stability of the energy grid that individuals start to adjust their usage to the amount of energy available. I guess mining is a perfect fit here: "Oh, let me take all that excess energy of your hands... I can turn it into money!". :-)

Hive, a beautiful wallet with an app platform for Mac OS X, Android and Mobile Web. Translators wanted! iOS and OS X devs see BitcoinKit. Tweets @hivewallet. Donations appreciated at 1HLRg9C1GsfEVH555hgcjzDeas14jen2Cn.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 22, 2011, 08:41:28 AM
Last edit: April 03, 2013, 09:13:15 AM by Vladimir
 #56

_

-
gusti
Legendary
*
Offline Offline

Activity: 1100
Merit: 1000


View Profile
February 22, 2011, 11:52:40 AM
 #57

I have a relatively small "staging area" in my garage where I have so called "economy 7" electricity tariff. (Most of the rigs are on industrial tariffs). This makes my night electricity cost here about 50% of regular price. Too bad that this is rip-off Britain and night tariff lasts only 7 hours per day.

A few more full racks of mining rigs and I can make a biz case for immigrating to some country with better electricity prices :-)



Would you like to partner with a 0.02-0.04 /kwh country ?


If you don't own the private keys, you don't own the coins.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 24, 2011, 09:04:27 PM
Last edit: April 03, 2013, 09:13:20 AM by Vladimir
 #58

_

-
Raulo
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
February 24, 2011, 09:34:24 PM
Last edit: February 25, 2011, 12:53:59 PM by Raulo
 #59

Just a quick note to people complaining that my prices are high. Apparently it is possible to get some GPU hosting with GPU clouds like Amazon, Peer1 etc...

The only problem is that on per Ghps basis my prices are  about 10-20 times cheaper than those from Amazon and peer1 and I suppose all other known non "mom's basement" type of competitors.

The price difference is so overwhelming that I could not even be bothered to calculate exact numbers yet.


Yeah. It's like saying that your $10/liter gas is cheap because, you know, your only other choice is to burn perfumes and it's 1000$/liter.

Your prices are high because at difficulty 50000+ which is going to be in the next reset in 3-4 days, your 3-month 1GH/s = 7.88 PH contract is going to generate only 1835 BTC assuming no further difficulty increases (we all know how likely it is). At $2100 for no more than 1835 BTC (and likely 1000 BTC only due to further difficulty increases), it is much cheaper to buy coins on the market.

If your service is popular it can only mean that there is apparently ample supply of people who cannot count people who have not grasped the Bitcoin difficulty adjustment formula, yet. 

1HAoJag4C3XtAmQJAhE9FTAAJWFcrvpdLM
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 24, 2011, 10:07:01 PM
Last edit: April 03, 2013, 09:13:28 AM by Vladimir
 #60

_

-
Raulo
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
February 24, 2011, 10:27:26 PM
 #61

Dear Raulo,

  With all due respect, I think that your math shows you have some kind of hidden agenda or some kind of tunnel vision. You pick up a specific contract at a specific time and claim that this makes no sense. Even if this is true at this particular time and for this particular contract does not mean that it is true for all available contracts and at all times. It seems that my contracts are much more complex instruments than you were able to comprehend so far based on your posts.

My "hidden agenda" is to have less people who will be disappointed and would think bitcoin is some kind of scam. It's good for everybody. Your agenda is to earn money.

Quote
Please do not insult my customers, they are all very intelligent people from what I can say and are capable making  rational decisions based on much more complex criteria than your trivial math. I do have good reasons to believe that my customers are doing quite well for themselves.

Complex contracts? You must be kidding. The contracts are plain and simple. No rocket science. Your pricing is slightly non-linear. 1 GH/s 3-month contract is as typical as anything. 16GH/s are a bit cheaper but still losing. Any longer contract is worse than 3-months ones because most of the coins will be generated soon before difficulty increase.

Show any scenario where your contracts are winning compared to buying coins on the market. Yes, I know: buying gazzilion GH/s instead of pumping 1 million dollar on the mtgox which would result in price hike. You don't have such capacity, though.

1HAoJag4C3XtAmQJAhE9FTAAJWFcrvpdLM
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 24, 2011, 10:48:25 PM
Last edit: April 03, 2013, 09:13:35 AM by Vladimir
 #62

_

-
fornit
Hero Member
*****
Offline Offline

Activity: 987
Merit: 1001


View Profile
February 24, 2011, 11:10:10 PM
 #63

black-scholes, futures, options, seriously?

both your contracts and just buying bitcoins immediately dont involve any options. you pay, you get something. with your contracts you mostly get it later, but its still not an option.
in my opinion, professional mining isnt viable because so many people just use their normal pcs. no extra investments, no extra maintenance, no extra profit margin. nobody can really compete with that, especially since both the professional and the amateur approach rely on the same hardware, common gpus.
for big investors, it might be different. its easier to buy one of your contracts than buying small scraps of bitcoins on the open market or setting up a big mining operation without much professional knowledge about it. but for the average guy its cheapier to just equip his pc with an expensive graphics card and let it run 24/7.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 24, 2011, 11:19:27 PM
Last edit: April 03, 2013, 09:13:42 AM by Vladimir
 #64

_

-
Raulo
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
February 24, 2011, 11:45:32 PM
 #65

 You have no idea about what my capacity is. The only statement I made at some point in the past is that immediately available capacity is sold out or limited (at that point).
Your capacity is lower the the global hashspeed. And actually it does not matter. Even if you had unlimited potential capacity, you'd increase the difficulty with your own hashspeed.

Quote
 You math is faulty because it is simplistic,

Your counter-math is non-existent.

Quote
you obviously have no slightest idea (or prefer not to demonstrate it) about complexities of futures and options pricing and you make assumptions that difficulty will always rise at current extraordinary pace and that price will always stay the same or fall, which is not a very smart things to assume in pricing complex instruments like options and futures many features of which my contracts have. Do you have any idea what Black-Scholes model is? Can you explain it (using your own words not a cut and paste from wikipedia)?

What does it have to do with options? Your are not selling options.  You are selling petahashes which will become unknown number of BTCs depending on future difficulty changes. 

Quote
Would you please be so nice an explain how did you use it in your calculations. If you think that it is not applicable could you please explain why?

Because you are not selling options. Plain and simple. The closest thing to your contracts in the financial world are swaps. You are hedging exchange rate risk and difficulty increase risk compared to your mining solo with your equipment. Your customers bear this risk.


Quote
 I frankly think that you are a troll. If I am wrong on this one please stop acting as one.

Is it enough to disagree with you to become a troll in your eyes or something extra is required?

Quote
 Your statements about my intentions are libellous. You have no factual information to prove that my intentions are solely to earn profit, and unless you can prove that, I suggest you to shut up and consult a lawyer before saying anything else.

Are you doing this business for charity or fun? Seriously? No, for profit. You aren't going to deny it and nobody would believe if you do. Is it wrong? No.

But do I have a right to say your service is not worth the price right now? Hell, yes.

If anything, your statement of my "hidden agenda" is libelous.





1HAoJag4C3XtAmQJAhE9FTAAJWFcrvpdLM
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 24, 2011, 11:48:56 PM
Last edit: April 03, 2013, 09:13:49 AM by Vladimir
 #66

_

-
Raulo
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
February 25, 2011, 12:51:58 PM
 #67

I do not sell options, but my contracts do have many features of options. My customers do bear some risks as well as corresponding rewards.

What features of options? What option do the customers have? Can they exercise the option?

Quote
I do not have to do counter math. My prices are not based on network difficulty and BTC exchange rate of the moment, it is based on costs of running mining operation commercially.  On the other hand, your math is simplistic and wrong because it ignores many important factors. You avoid my question about using proper models for calculating current "fair price" of my contracts. I do know that proper math if fairly complex, way more complex than what you have offered.

Nobody should care about your mining costs but about their own interest. Right now it is cheaper to buy BTC on the market and no "complex" models present only in your head can change that.

Quote
An opinion (as indicated by words "I think") cannot be libellous, by definition. You just demonstrated again that you do not know what you are talking about, thus losing even more credibility. Please stop trolling in my thread and go away.

So you can say anything and it's OK if you add "I think"? I think you must be kidding.

Quote
Coming on a commercial thread and starting badmouthing a commercial offer is insulting and disrespectful to the merchant and by definition is trolling. If you do not like the offer do not take the offer and move on.

This is a public forum, not your own. I have the same right to write here as you have.

Quote
If you still cannot comprehend this. Try to go to any real life marketplace and start publicly badmouthing merchants and goods and services on offer, particularly using faulty math, before soon you would have to deal with either police, or security, or lawyers, or in some less civilised locations broken limbs.

Are you threatening me with broken limbs here?

And if you run a business you can intimidate anybody not to give a review of your service pricing? It must be very pleasant to do business with you.

P.S I would like to apologize for "people who cannot count" in one my previous post. It was mean and I'm sorry. It should have been "people who have not grasped the Bitcoin difficulty adjustment formula yet". And when they understand it, they are going to be disappointed.

1HAoJag4C3XtAmQJAhE9FTAAJWFcrvpdLM
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 25, 2011, 01:39:35 PM
Last edit: April 03, 2013, 09:13:57 AM by Vladimir
 #68

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 26, 2011, 10:36:26 AM
Last edit: April 03, 2013, 09:14:03 AM by Vladimir
 #69

_

-
Syke
Legendary
*
Offline Offline

Activity: 3668
Merit: 1077


View Profile
February 27, 2011, 04:38:59 PM
 #70

 My customers who have .125 Ghps contracts get   3.45 BTC/day at the moment. 1Ghps at the moment gives 27.59 BTC/day.
And now with the difficulty at 55590.23763914, 1Ghps gives 18 BTC/day, at a cost of $23/day. That's about $1.28 per BTC, when the open market is selling them for about $.95. Kudos for finding buyers at such a premium price!

Buy & Hold
ribuck
Donator
Hero Member
*
Offline Offline

Activity: 826
Merit: 1008


View Profile
February 27, 2011, 04:43:24 PM
 #71

Kudos for finding buyers at such a premium price!

You can do it too, if you provide what the customer wants, in the form that the customer wants it.

Water from the tap is almost free, yet my local supermarket sells bottled water at a higher price than coca-cola. Go figure!
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
February 27, 2011, 05:06:43 PM
Last edit: April 03, 2013, 09:14:09 AM by Vladimir
 #72

_

-
Syke
Legendary
*
Offline Offline

Activity: 3668
Merit: 1077


View Profile
March 10, 2011, 06:32:15 AM
 #73

FYI, a table with expectations of BTC generation for 1 Ghps, for bitcoin difficulty seen recently (daily average):
...
76193 - 13.20 BTC

So for 1031£ you can get 1188 BTC worth about 622£.

Wow.

Buy & Hold
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
March 10, 2011, 07:41:01 AM
Last edit: April 03, 2013, 09:14:16 AM by Vladimir
 #74

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
March 13, 2011, 03:22:11 PM
Last edit: April 03, 2013, 09:14:22 AM by Vladimir
 #75

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
March 22, 2011, 07:48:05 AM
Last edit: April 03, 2013, 09:14:27 AM by Vladimir
 #76

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
March 25, 2011, 12:42:08 PM
Last edit: June 01, 2013, 01:43:00 AM by Vladimir
 #77

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
March 27, 2011, 02:56:26 AM
Last edit: April 03, 2013, 09:14:32 AM by Vladimir
 #78

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 02, 2011, 10:53:29 AM
Last edit: June 01, 2013, 01:43:07 AM by Vladimir
 #79

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 04, 2011, 09:50:15 PM
Last edit: April 03, 2013, 09:14:37 AM by Vladimir
 #80

_

-
gusti
Legendary
*
Offline Offline

Activity: 1100
Merit: 1000


View Profile
April 04, 2011, 10:04:45 PM
 #81

you sell out very quick ...
is that a marketing tool or what ?   Wink

If you don't own the private keys, you don't own the coins.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 06, 2011, 05:48:05 PM
Last edit: April 03, 2013, 09:14:46 AM by Vladimir
 #82

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 09, 2011, 11:49:14 AM
Last edit: April 03, 2013, 09:14:54 AM by Vladimir
 #83

_

-
gusti
Legendary
*
Offline Offline

Activity: 1100
Merit: 1000


View Profile
April 09, 2011, 11:31:20 PM
 #84

Please allow me to present you  the "partnership option", which might interest those who wish to employ more than 16 Ghps of bitcoin mining capacity  long term.

  At the moment I am at finishing stages of deploying a bitcoin mining farm rated at 40 Ghps which at current difficulty expected to deliver approximately 20 BTC per hour. I also since 2010 provide mining services to a number of prominent members of bitcoin community. To the best of my knowledge I am the only one who delivers such service professionally. I work on bitcoin mining projects full time and run data centres (DC) which are designed specifically for bitcoin mining and cryptanalysis supercomputing. In terms of efficiency my DC's will give a run for its money to DC's designed by Google, Facebook, Yahoo etc...

  Right now I am looking for investors for the second DC. In principle the terms are extremely simple. Investors pay for all direct out of pocket expenses both initial and recurring including hardware, shipping, electricity, DC charge (DC is owned and operated by me, DC charge covers operating costs such lease of premises, amortisation of of shared hardware, security charges) etc..  I do all the legwork including design of DC/hardware/software, assembly, deployment, monitoring and day to day management. I also pay for any labour related to this project as required.

  The results of this activity (mining hardware and mined bitcoins) are split in proportion of 75/25 where 75% goes to investors and 25% goes to operator (Marchenko Ltd). This means that you would receive 75% of all mined bitcoins. Moreover in case of termination of contract you retain ownership of 75% of mining rigs.

  In my opinion the above scheme presents a viable way of long term investment into bitcoin for serious investors.



Wrong, we are at least two. Don't forget also the pool operators who are doing a great job.
As for your offer, may I ask you why an investor will pay 0.16 for UK electricity, when he can pay 0.05 or less.
Your costs are too high, mining need to be professional, but cost effective also.
 


If you don't own the private keys, you don't own the coins.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 10, 2011, 09:18:07 AM
Last edit: April 03, 2013, 09:15:05 AM by Vladimir
 #85

_

-
Grinder
Legendary
*
Offline Offline

Activity: 1284
Merit: 1001


View Profile
April 10, 2011, 02:18:54 PM
 #86

Even your highest volume offer (16GHash/1yr) puts 1 BTC at about $1.27 given the current difficulty, so why do anybody purchase this?
gusti
Legendary
*
Offline Offline

Activity: 1100
Merit: 1000


View Profile
April 10, 2011, 03:07:06 PM
 #87

Quote
Wrong, we are at least two. Don't forget also the pool operators who are doing a great job.
As for your offer, may I ask you why an investor will pay 0.16 for UK electricity, when he can pay 0.05 or less. Your costs are too high, mining need to be professional, but cost effective also.

I am sure they do a great job. However, pool operations are not relevant to the discussion.

If you mean mrb, as far as I am aware, with all due respect, he has a day job and 16 Ghps he is offering is done in "evening and weekend mode", hardly professional. One other provider has admitted that it's mom's basement operation. If I am wrong here please do correct me.

If you want to argue on this please first define term "professional". My definition is a job done by a person qualified to do this job and who is doing this as his main occupation. By qualified, I mean either appropriate education or significant relevant professional experience or better both, as in my case.

I also would suggest that you are not in position to discuss my costs due to lack of information available to you on this one. Even if I pay for electricity slightly more than someone else, I make it up on reliability, customer service, better design, cheaper hardware, cost of real estate, cost of labour, government subsidies and in the end of the day on "professionalism".

There is significant difference between running 2-3 even 10 servers and 100 of them. Many "professionals" do fail to realise that, somehow.

Your opinion on 0.16 pence electricity in UK is not exactly correct one. Industrial electricity here can be had much cheaper, if things are done "professionally".  Particularly, is some areas which used to house metallurgical plants.

And do not worry... plans of relocating existing facilities and setting up new ones in BC, Canada are in place and will be acted upon when the numbers say it is the right thing to do.

I've noticed that you looking investors with 0.5-20 k$. I am looking for investors with 20-500k$ to invest, no need to feel threatened by my operation. In any case I wish you the best of luck with all your projects.



I will not discuss your professionalism or lack of it, but when you say you are the only one.
You always say you manage a big great mining operation, with tons of Ghps.
Can you present some proof of that ? On the opposite side, my stats are public on BPM.

As your USD 0.16 electricity costs, you told so on this post :
http://bitcointalk.org/index.php?topic=2895.msg39901#msg39901

You have plans on relocating, to lower electricity costs.
I have already 0.03-0.05 cost in my working operation.

A Ghps is a Ghps in a State of the Art datacenter, or in a decent, less costly one.
I don't feel threatened because you cannot compete with your actual costs.
In the end, ROI is the King, and investors will look for the best ROI.



 

If you don't own the private keys, you don't own the coins.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 10, 2011, 08:21:51 PM
Last edit: April 03, 2013, 09:15:28 AM by Vladimir
 #88

_

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 16, 2011, 09:06:34 PM
Last edit: April 03, 2013, 09:15:35 AM by Vladimir
 #89

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 21, 2011, 10:54:38 AM
Last edit: April 03, 2013, 09:15:43 AM by Vladimir
 #90

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 24, 2011, 11:47:53 AM
Last edit: April 03, 2013, 09:15:48 AM by Vladimir
 #91

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 24, 2011, 12:47:21 PM
Last edit: April 03, 2013, 09:15:55 AM by Vladimir
 #92

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 26, 2011, 12:30:45 AM
Last edit: April 03, 2013, 09:16:01 AM by Vladimir
 #93

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 26, 2011, 12:13:05 PM
Last edit: April 03, 2013, 09:16:06 AM by Vladimir
 #94

.

-
ribuck
Donator
Hero Member
*
Offline Offline

Activity: 826
Merit: 1008


View Profile
April 26, 2011, 12:39:00 PM
 #95



It's much more interesting on the other side of the shelf, but for now this will do.  Cool

On the other side it's all carrots.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 28, 2011, 03:34:23 AM
Last edit: April 03, 2013, 09:16:20 AM by Vladimir
 #96

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 29, 2011, 04:43:21 PM
Last edit: April 03, 2013, 09:16:25 AM by Vladimir
 #97

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 30, 2011, 02:19:08 PM
Last edit: April 03, 2013, 09:16:31 AM by Vladimir
 #98

.

-
ribuck
Donator
Hero Member
*
Offline Offline

Activity: 826
Merit: 1008


View Profile
April 30, 2011, 04:46:26 PM
 #99

I bet your legal counsel don't accept payments in Bitcoin.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
April 30, 2011, 05:59:34 PM
Last edit: April 03, 2013, 09:16:39 AM by Vladimir
 #100

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 01, 2011, 12:56:23 AM
Last edit: April 03, 2013, 09:16:47 AM by Vladimir
 #101

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 04, 2011, 12:11:46 PM
Last edit: April 03, 2013, 09:16:54 AM by Vladimir
 #102

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 04, 2011, 07:08:40 PM
Last edit: April 03, 2013, 09:16:59 AM by Vladimir
 #103

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 08, 2011, 12:22:22 AM
Last edit: April 03, 2013, 09:17:04 AM by Vladimir
 #104

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 08, 2011, 01:14:01 PM
Last edit: April 03, 2013, 09:17:11 AM by Vladimir
 #105

.

-
gigabytecoin
Sr. Member
****
Offline Offline

Activity: 280
Merit: 250


View Profile
May 08, 2011, 07:42:47 PM
 #106

Dear vladimir, would you mind NOT spamming the shit out of the marketplace board please?

18 of the last 20 posts to this thread have been your own.

Please don't continually bump this overpriced server thread of yours. You are abusing the marketplace by doing so. If people were interested in it, they would make a post.

People, if you want to know how to setup a 1Ghps server, I will show you how to for free, simply pm me, and it will cost you much less than 1,600 pounds...

Thank you.
ribuck
Donator
Hero Member
*
Offline Offline

Activity: 826
Merit: 1008


View Profile
May 08, 2011, 08:09:37 PM
 #107

The purpose of the Marketplace sub-forum is for stuff like this.
m4rkiz
Full Member
***
Offline Offline

Activity: 171
Merit: 100


View Profile
May 08, 2011, 08:48:05 PM
 #108

with 0.14 euro per kWh (my rate) and triple 5870 (~800W including rest of system and some moderate OC) it is 320 euro for electricity itself
3x 5870 is ~700 euro, 150 for cheap mobo+cpu+ram+hdd, 150 for decent psu

that is 1320 euro (not including OS, configuration etc.) for four month

gpb to eur exchange rate is close to 1.1, so that is no too bad if one have plenty of money and not too much experience

obvious drawback is that after 4 month you will have coins and you can keep mining rig, while when contract end all you have is coins, but no one can expect vladimir to do all that for free, it ain't charity shop

while one can use diy methods, he needs to pay insurance, taxes, double that electricity cost ( air condition), internet connection with some backup link etc.
for a colocation offer it certainly isn't a bad one
gigabytecoin
Sr. Member
****
Offline Offline

Activity: 280
Merit: 250


View Profile
May 08, 2011, 09:50:43 PM
 #109

The purpose of the Marketplace sub-forum is for stuff like this.

The purpose of the sub forum is to sell your wares, sure.

My only problem with vladimir's selling tactics are:

- He is continually "bumping" his thread to the top of the forum just to gain more exposure, even though nobody is interested in his product. He is abusing the "bumping" ability of this forum. Any marketplace type forum usually has rules against these dirty selling tactics. He is making his thread look more popular than it actually is. I can't believe the moderators haven't given him a warning about this already..? I have never participated in a forum where this type of action was allowed. If you have something else to add to your service, simply edit the original post, simple as that...
- He does not accept BTC as payment, I thought the purpose of this sub forum was to transact with BTC?
gigabytecoin
Sr. Member
****
Offline Offline

Activity: 280
Merit: 250


View Profile
May 08, 2011, 09:56:36 PM
 #110

with 0.14 euro per kWh (my rate) and triple 5870 (~800W including rest of system and some moderate OC) it is 320 euro for electricity itself
3x 5870 is ~700 euro, 150 for cheap mobo+cpu+ram+hdd, 150 for decent psu

that is 1320 euro (not including OS, configuration etc.) for four month

gpb to eur exchange rate is close to 1.1, so that is no too bad if one have plenty of money and not too much experience

obvious drawback is that after 4 month you will have coins and you can keep mining rig, while when contract end all you have is coins, but no one can expect vladimir to do all that for free, it ain't charity shop

while one can use diy methods, he needs to pay insurance, taxes, double that electricity cost ( air condition), internet connection with some backup link etc.
for a colocation offer it certainly isn't a bad one

I have no problem with him offering something for sale. Great, good on him for doing so.

I have a huge problem with him continually bumping his thread.

If you have something to add/change about your offer vladimir... simply edit your original post.

If you are actually offering a decent product that people really like (like this blackjack offer) then it will receive hundreds of replies (from different people) in a few days, just like this one.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 08, 2011, 10:40:37 PM
Last edit: April 03, 2013, 09:17:51 AM by Vladimir
 #111

.

-
xf2_org
Member
**
Offline Offline

Activity: 98
Merit: 10


View Profile
May 09, 2011, 12:44:48 AM
 #112

My only problem with vladimir's selling tactics are:

- He is continually "bumping" his thread to the top of the forum just to gain more exposure, even though nobody is interested in his product. He is abusing the "bumping" ability of this forum. Any marketplace type forum usually has rules against these dirty selling tactics. He is making his thread look more popular than it actually is. I can't believe the moderators haven't given him a warning about this already..? I have never participated in a forum where this type of action was allowed. If you have something else to add to your service, simply edit the original post, simple as that...
- He does not accept BTC as payment, I thought the purpose of this sub forum was to transact with BTC?

People are free to manage their own threads however they wish.

Bumping, when there is a change in the top post, is reasonable.

rezin777
Full Member
***
Offline Offline

Activity: 154
Merit: 100


View Profile
May 09, 2011, 04:18:10 AM
 #113

Free bump!   Cheesy
m4rkiz
Full Member
***
Offline Offline

Activity: 171
Merit: 100


View Profile
May 09, 2011, 06:23:37 PM
 #114

- He does not accept BTC as payment, I thought the purpose of this sub forum was to transact with BTC?

whole point of mining contracts is to GET some bitcoins, not to spend them...
ISA
Newbie
*
Offline Offline

Activity: 52
Merit: 0


View Profile
May 09, 2011, 07:46:19 PM
 #115

Hey Vladimir,

I have to disappoint you, regarding your profile info :
It's impossible to become a bitcoin billionaire.
There will be only 21 million BTCs Smiley

However I highly appreciated your activate participation in the bitcoin community!
Keep pushing this nice little baby Smiley.

Take care,
ISA
CaptainPicard
Newbie
*
Offline Offline

Activity: 42
Merit: 0


View Profile
May 09, 2011, 08:32:08 PM
 #116

What are the "important reasons" that you can not accept anonymous customers?
I wasn't aware that renting what is basically a dedicated server with a GPU was regulated by the government.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 10, 2011, 09:26:50 AM
Last edit: April 03, 2013, 09:18:01 AM by Vladimir
 #117

.

-
xf2_org
Member
**
Offline Offline

Activity: 98
Merit: 10


View Profile
May 10, 2011, 03:35:02 PM
 #118


Any chance you would be willing to periodically disclose how much Ghps you have online, actively working?

Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 10, 2011, 09:40:29 PM
Last edit: April 03, 2013, 09:18:08 AM by Vladimir
 #119

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 12, 2011, 08:28:04 AM
Last edit: April 03, 2013, 09:18:14 AM by Vladimir
 #120

.

-
mintymark
Sr. Member
****
Offline Offline

Activity: 287
Merit: 251


View Profile
May 12, 2011, 09:07:42 AM
 #121

Just wanted to say that I took out a mining contract with Vladimar, and ... for my own reasons had to invoke the cancellation clause before it started. (My creditors found me and wanted my shirt, aagh!)

Not a particularly nice thing to do to anyone really as he had presumably started to ready the contract, and yes, I admit it, I am a flippertygibbet.

Vladimir refunded my funds rapidly and without a murmur of protest. 

Just wanted to say thanks for a smooth transaction and for being so straightforward.

regards,

   Mark.

[[ All Tips gratefully received!!  ]]
15ta5d1N8mKkgC47SRWmnZABEFyP55RrqD
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 13, 2011, 08:45:53 AM
Last edit: April 03, 2013, 09:18:25 AM by Vladimir
 #122

.

-
sc8nt4u
Sr. Member
****
Offline Offline

Activity: 286
Merit: 250


View Profile
May 14, 2011, 05:46:37 AM
 #123

 Grin
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 16, 2011, 05:19:51 PM
Last edit: April 03, 2013, 09:18:36 AM by Vladimir
 #124

.

-
sc8nt4u
Sr. Member
****
Offline Offline

Activity: 286
Merit: 250


View Profile
May 20, 2011, 09:21:37 PM
 #125

I hope you received the mini wind tunnels well.  Cheesy
Third Way
Full Member
***
Offline Offline

Activity: 238
Merit: 100



View Profile
May 20, 2011, 11:12:02 PM
 #126

Vladimir, are your contracts still available? I saw a post earlier in which you claimed the service was discontinued, I would like if there is still availability on the list, although I must ask if I can negotiate the minimum 4 month of the regular contract.

blease resbond -> 1BYJKxpntNn6TZbM5M5CWkEb8vr8vDcBrr
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 20, 2011, 11:15:13 PM
Last edit: April 03, 2013, 09:18:49 AM by Vladimir
 #127

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 24, 2011, 03:03:15 PM
Last edit: April 03, 2013, 09:19:03 AM by Vladimir
 #128

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
May 27, 2011, 08:12:19 AM
Last edit: April 03, 2013, 09:19:12 AM by Vladimir
 #129

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 05, 2011, 01:45:18 AM
Last edit: April 03, 2013, 09:19:42 AM by Vladimir
 #130

.

-
MrAnderson
Member
**
Offline Offline

Activity: 81
Merit: 10


View Profile
June 05, 2011, 02:40:21 AM
Last edit: June 05, 2011, 02:54:56 AM by Ruckus190
 #131

Hi Vladamir!

I started out last week @ 8.5 and have made back what I put in! Tongue

In the very near future I will be studying and no longer working full time so the $600AU a month is a bit steep, for me.

I'm not sure how low you can go; costs etc

If I paid $100/month a) On average how many BTC's would be mined and b) Is it cost effective for you?

Cheers.

PS: I could do $200 / Pushing $300 depending on the return.

>>> 1BcfL1QAZsxtpd92YYsbvDyih45mwA9xSo << Willing to endure the cringe-worthy Australian stereotypes for donations.

I'll wrestle a crocodile, show you my knife, throw shrimp on the BBQ, F**k your wife. Tongue
Insuremeplz
Member
**
Offline Offline

Activity: 113
Merit: 10


View Profile
June 05, 2011, 11:47:35 PM
 #132

Hi Vladamir!

I started out last week @ 8.5 and have made back what I put in! Tongue

In the very near future I will be studying and no longer working full time so the $600AU a month is a bit steep, for me.

I'm not sure how low you can go; costs etc

If I paid $100/month a) On average how many BTC's would be mined and b) Is it cost effective for you?

Cheers.

PS: I could do $200 / Pushing $300 depending on the return.

I'm also interested in buying a contract, but in the $100 ($200 maximum) range. Maybe we could split a contract if a small option is not available?
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 06, 2011, 10:36:52 PM
Last edit: April 03, 2013, 09:19:49 AM by Vladimir
 #133

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 07, 2011, 06:33:04 AM
Last edit: April 03, 2013, 09:19:54 AM by Vladimir
 #134

.

-
weyland
Newbie
*
Offline Offline

Activity: 3
Merit: 0


View Profile
June 07, 2011, 11:23:25 AM
 #135

Could you help a newb out - how do I interpret this table?
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 07, 2011, 11:31:28 AM
Last edit: April 03, 2013, 09:20:00 AM by Vladimir
 #136

.

-
weyland
Newbie
*
Offline Offline

Activity: 3
Merit: 0


View Profile
June 07, 2011, 12:08:38 PM
 #137

Thank you, that was surprisingly simple to understand. Cheesy (Well said)
dserrano5
Legendary
*
Offline Offline

Activity: 1960
Merit: 1026



View Profile
June 07, 2011, 02:55:44 PM
 #138

Today and for the next few days until difficulty changes, which is currently 567358, statistical expectation for 1 Ghps mining rig is to earn 1.77 BTC.

Thanks for that. That's 1.77 BTC/day I assume.

I was considering your offer but I think I'm about to miss the boat:

1.77 BTC today, with the mtgox market at $18/BTC and 0.609 GBP/USD, is equivalent to 1.77 * 18 * 0.609 = 19.40 GBP. That makes for 19.40 * 30 = 582 GBP/month. Not very bad indeed.

But as soon as difficulty increases so that the reward gets as low as 1.22 BTC/day, earnings will be 1.22 * 18 * 0.609 * 30 = 401.208 GBP/month, which is essentially the same as the cost, thus killing the benefit. Yes, mtgox and GBPUSD will change, and they may make matters better or worse—that's beyond anyone's control though.

Mind you, I'm not trying to troll and I might be radically wrong at some point, in which case I'd be grateful if you (or anyone) pointed me where. But I honestly think it's not very wise to join this now... which is a pity.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 07, 2011, 04:17:22 PM
Last edit: April 03, 2013, 09:20:19 AM by Vladimir
 #139

.

-
dserrano5
Legendary
*
Offline Offline

Activity: 1960
Merit: 1026



View Profile
June 07, 2011, 10:13:05 PM
 #140

I'll wait until exchange rate jumps to 50$ and than respond, if you do not mind.

I'll be delighted to be slapped in the face if that's the case Smiley.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 08, 2011, 05:59:42 AM
Last edit: April 03, 2013, 09:20:45 AM by Vladimir
 #141

.

-
kpriess
Sr. Member
****
Offline Offline

Activity: 415
Merit: 250


Money is the root of all evil.


View Profile
June 08, 2011, 07:02:05 AM
 #142




These babies are waiting for someone to buy a mining contract  Grin


Oh god.. Envy..

Bump..
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 08, 2011, 05:01:03 PM
Last edit: April 03, 2013, 09:20:54 AM by Vladimir
 #143

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 08, 2011, 10:30:32 PM
Last edit: June 01, 2013, 01:44:33 AM by Vladimir
 #144

.

-
borito4
Member
**
Offline Offline

Activity: 87
Merit: 10


View Profile
June 08, 2011, 11:02:14 PM
 #145

Vlad. I wish I was you/worked for you.

http://fxnet.bitlex.org/?ref=1141
1C2AUjVqnY4TMC9D7ZGQ4aPurbLrLz2q2g
Adam
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
June 09, 2011, 02:45:41 PM
 #146

I'm starting to wish I had outsourced my mining after spending a few days building computers and still being less than 50% capacity.  Pain in the ass.

BattleTitans.io  ▼  Mobile PvP Arena of the Future  ▼  BattleTitans.io
The Most Promising ICO in October    [Join Now!]

▼  [FB]  ▬  [TW]  ▬  [TG]  ▬▬▬  [YU]  ▼
Dropkickdragout
Member
**
Offline Offline

Activity: 98
Merit: 10


View Profile
June 12, 2011, 10:29:49 PM
 #147

I would really enjoy being a part of this....but that's $714.60 USD a month.. I don't think I can afford that right now for more than 1 month, and In 1 month I don't think I could break even.

Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 14, 2011, 07:32:44 PM
Last edit: April 03, 2013, 09:21:16 AM by Vladimir
 #148

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 16, 2011, 02:50:55 PM
Last edit: April 03, 2013, 09:21:22 AM by Vladimir
 #149

.

-
Reikoku
Full Member
***
Offline Offline

Activity: 140
Merit: 100


firstbits: 1kwc1p


View Profile
June 16, 2011, 03:00:34 PM
 #150

Love the huge tower of graphics cards, looking forward to more pics of DC3.

Rei | 1Kwc1pqv54jCg8jvnm3Gu1dqFQYhS34Bow
Trades So Far: 7
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 16, 2011, 03:01:58 PM
Last edit: April 03, 2013, 09:21:31 AM by Vladimir
 #151

.

-
Reikoku
Full Member
***
Offline Offline

Activity: 140
Merit: 100


firstbits: 1kwc1p


View Profile
June 16, 2011, 03:17:18 PM
 #152

Love the huge tower of graphics cards, looking forward to more pics of DC3.

To tease you will make a pic of a fan, later today.

I take it you're the reason all my retailers are sold out of XFX 5870s and 5850s Tongue

Rei | 1Kwc1pqv54jCg8jvnm3Gu1dqFQYhS34Bow
Trades So Far: 7
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 16, 2011, 09:43:29 PM
Last edit: April 03, 2013, 09:21:58 AM by Vladimir
 #153

.

-
Reikoku
Full Member
***
Offline Offline

Activity: 140
Merit: 100


firstbits: 1kwc1p


View Profile
June 16, 2011, 11:44:29 PM
 #154

Tongue What's the CFM on those?

I envy you Vladimir, but in the good inspirational way. Wink

Rei | 1Kwc1pqv54jCg8jvnm3Gu1dqFQYhS34Bow
Trades So Far: 7
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 16, 2011, 11:51:18 PM
Last edit: April 03, 2013, 09:22:05 AM by Vladimir
 #155

.

-
Ben Walsh (beamer)
Sr. Member
****
Offline Offline

Activity: 343
Merit: 250



View Profile
June 18, 2011, 11:01:37 PM
 #156

I'm looking at these contracts and got all confused ...

I'm trying to work out what my expected total BTC payout would be from a 4 month 1 GHPS contract.

I understand the difficulty changes every 14 days. Is there somewhere I can get the historic changes in the difficulty ?

If I can find that figure and assume I got to keep the rig for ever, I can use the sum to infinity calculation as follows, right ? ...

     1 / ( 1 - ( 1 / ( 1 + difficulty change ) ) ) x 14 (days of each period) x 1.15 (current daily payout from 1 GHPS) =  total BTC payout

Let's assume for now that it is high (10%) that would give ...

     1 / ( 1 - ( 1 / ( 1 + 0.1 ) ) ) x 14 X 1.15 = 11 x 14 x 1.15 = 177.1 BTC

So that's £1760 / 177.1 BTC = £9.94 / BTC at least (as I'll only have the 1 GHPS for the 4 months rather than forever)

Is 10% a safe estimate for the difficulty increase ?




REF
Hero Member
*****
Offline Offline

Activity: 529
Merit: 500


View Profile
June 18, 2011, 11:06:59 PM
 #157

30% is better to use.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 19, 2011, 02:42:30 AM
Last edit: April 03, 2013, 09:22:19 AM by Vladimir
 #158

.

-
Ben Walsh (beamer)
Sr. Member
****
Offline Offline

Activity: 343
Merit: 250



View Profile
June 19, 2011, 02:09:09 PM
 #159

Maybe you should ;O)

Apologies if I have offended.

I am trying to calculate my "steady and predictable BTC income stream" and doing my due diligence on the historical, medium term and short term difficulty changes, before I go ahead with an investment.

PS : Don't knock the mathematicians, they are the only reason Bitcoin exists after all ;O)
Capitan
Member
**
Offline Offline

Activity: 112
Merit: 10


View Profile
June 20, 2011, 04:06:52 AM
 #160

It seems every time, mtgox rate hits a short term low, a new mathematician comes here. I should start trading and make zillions trading using this bullish indicator.


So why not answer his question instead of deflecting it?
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 20, 2011, 04:32:34 AM
Last edit: April 03, 2013, 09:23:13 AM by Vladimir
 #161

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
June 23, 2011, 07:14:22 PM
Last edit: April 03, 2013, 09:23:21 AM by Vladimir
 #162

.

-
wamatt
Member
**
Offline Offline

Activity: 85
Merit: 10


View Profile
June 28, 2011, 11:19:17 AM
 #163

Are there any references for Vladimir on the forums from actual customers? Are contracts still a good way to go?

TIA
ribuck
Donator
Hero Member
*
Offline Offline

Activity: 826
Merit: 1008


View Profile
June 28, 2011, 01:06:17 PM
 #164

Are there any references for Vladimir on the forums from actual customers?
Vladimir has been selling his mining contracts for over six months now. I think you would have heard some specific complaints on the forums if he had not been delivering what he advertised.
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
July 02, 2011, 12:17:27 PM
Last edit: April 03, 2013, 09:23:32 AM by Vladimir
 #165

.

-
Dobrodav
Sr. Member
****
Offline Offline

Activity: 336
Merit: 250



View Profile
July 02, 2011, 06:22:35 PM
 #166

Well, anybody selling mining contracts, have no faith in BTC. Vladimir is strange exclusion from that rule. Or not ?


             ▄▆▆▄
           ▄████████▄
        ▄██████████████▄
     ▄███████      ███████▄
  ▄███████            ███████▄
███████                  ███████
█████▀                    ▀▀██▀
█████
█████                       ▄▆█
█████                   ▆██████
█████                   ████████
  ▀█                   █▀ ▐████
▄                          ▐████
██▆▄▄                    ▄█████
███████                  ███████
  ▀███████            ███████▀
     ▀███████      ███████▀
        ▀██████████████▀
           ▀████████▀

Graphene Airdrop Coming Soon by Phore
  █████████████████████████████
███████████████████████████████
████████████████████████████████
████████████████████████████████
████████████████████████████████
████████████████████████████████
█████████               ████████
█████████               ████████
█████████               ████████
█████████               ████████
█████████               ████████
█████████           ▅▆████████▌
█████████     ▅▅▆████████████▌
█████████▆█████████████████████
████████████████████████████████
██████████████████████████████▀
██████████████████████▀▀▀
████████████████▀▀▀
█████████▀▀
█████████
█████████
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
July 02, 2011, 07:05:28 PM
Last edit: April 03, 2013, 09:24:09 AM by Vladimir
 #167

.

-
Dobrodav
Sr. Member
****
Offline Offline

Activity: 336
Merit: 250



View Profile
July 02, 2011, 11:35:15 PM
 #168

Ok, What is the risk of Fisherman ? Big.  And if he have some future contracts - that risk is even bigger.
What is the risk of OilDriller ?  Big enough. In that case, future contracts are somehow lowers the risk.
What is a risk of gold mining company - there is some risk. Actually futures on that marked, increases the risk taken.
What is risk of Miner contracter ? - No any risk. All risk lies on shoulder of contract buyer.
Get my point ?


             ▄▆▆▄
           ▄████████▄
        ▄██████████████▄
     ▄███████      ███████▄
  ▄███████            ███████▄
███████                  ███████
█████▀                    ▀▀██▀
█████
█████                       ▄▆█
█████                   ▆██████
█████                   ████████
  ▀█                   █▀ ▐████
▄                          ▐████
██▆▄▄                    ▄█████
███████                  ███████
  ▀███████            ███████▀
     ▀███████      ███████▀
        ▀██████████████▀
           ▀████████▀

Graphene Airdrop Coming Soon by Phore
  █████████████████████████████
███████████████████████████████
████████████████████████████████
████████████████████████████████
████████████████████████████████
████████████████████████████████
█████████               ████████
█████████               ████████
█████████               ████████
█████████               ████████
█████████               ████████
█████████           ▅▆████████▌
█████████     ▅▅▆████████████▌
█████████▆█████████████████████
████████████████████████████████
██████████████████████████████▀
██████████████████████▀▀▀
████████████████▀▀▀
█████████▀▀
█████████
█████████
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
July 03, 2011, 12:21:52 AM
Last edit: April 03, 2013, 09:24:15 AM by Vladimir
 #169

.

-
Adam
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
July 03, 2011, 01:33:15 AM
 #170

Ok, What is the risk of Fisherman ? Big.  And if he have some future contracts - that risk is even bigger.
What is the risk of OilDriller ?  Big enough. In that case, future contracts are somehow lowers the risk.
What is a risk of gold mining company - there is some risk. Actually futures on that marked, increases the risk taken.
What is risk of Miner contracter ? - No any risk. All risk lies on shoulder of contract buyer.
Get my point ?

Please tell me English is not your first language.  I don't mean to be rude, but I'm not sure anyone really gets your point.  I'm not sure you really understand futures contracts, as you seem to imply they increase the risk of the producer.  That's the exact opposite of what they are for.  Futures are hedges against unexpected changes in the market.  The farmer, miner, or oil company will lock in a price today for the products they will produce and deliver over time.  Effectively they win when the market price would have gone down after they lock in their price, and lose if it went up.  It doesn't imply that they lack any faith in their product or its viability, it's just they need predictable cash flow in order to meet their liabilities such as payments on debt and wages for employees.  

A mining contract is similar to a futures contract.  The bitcoin miner has to put up capital to get the venture online and wants to guarantee a level of cash flow that will make them a profit.  Let's say it costs $10,000 and a lot of time to put 10ghash online.  The miner could of course assume all the risk and all the reward of the venture and not engage in any contracts.  But there are limits to the amount of capital one can put into a venture, and limits on the amount of risk one is willing to take, regardless of how optimistic they are about the future.  Once they have had their fill of risk, an option to keep expanding is to sell mining contracts at a profit.  

It sounds like you are trying to say saying that in a contractual agreement between two businesses, both parties should take equal risk, so if the buyer of the contract loses out on the deal then the contractor should lose out too.  While that's an attractive option for the buyer it makes no sense for the seller.  The seller in this case gets no upside benefit should bitcoins go to $100, they just get the contracted price.  If they get no upside benefit they need not assume any downside risk either.  The seller could structure it so they split profits and losses proportionally, but that's a completely different business arrangement, more resembling a partnership than a contract.

BattleTitans.io  ▼  Mobile PvP Arena of the Future  ▼  BattleTitans.io
The Most Promising ICO in October    [Join Now!]

▼  [FB]  ▬  [TW]  ▬  [TG]  ▬▬▬  [YU]  ▼
bitminers
Member
**
Offline Offline

Activity: 84
Merit: 10


View Profile
July 03, 2011, 06:08:19 AM
Last edit: July 03, 2011, 10:41:01 AM by bitminers
 #171

Mining is wonderful isn't it!
nebiki
Sr. Member
****
Offline Offline

Activity: 700
Merit: 250



View Profile WWW
July 03, 2011, 03:14:25 PM
 #172

no comments

lol. he has made a very good point, though. you take NO risk.

       ▄██▄
       ▀██▀
  ▄            ▄
 ███████████  ███
  ▀            ▀
 ▄               ▄
███  ██████████████
 ▀               ▀
 ▄               ▄
██████████████  ███
 ▀               ▀
  ▄            ▄
 ███  ███████████
  ▀            ▀
       ▄██▄
       ▀██▀

H A R A
▬▬▬▬▬▬▬▬▬▬▬▬
           ███
        █████████
     ███████████████
  █████████████████████
█████████████████████████
██  █████████████████████
██     ██████████████████
██        ███████████████
██          █████████████
██          █████████████
███         █████████████
  ████      ███████████
     ████   ████████
        █████████
           ███





██████
███▀▀▀
███
███





███
███
███▄▄▄
██████

.GLOBAL & TRANSPARENT..
.BLOCKCHAIN-BASED..........
.DATA EXCHANGE................

██████
▀▀▀███
   ███
   ███





   ███
   ███
▄▄▄███
██████
TWITTER
GITHUB
REDDIT
FACEBOOK
BITCOINTALK
LINKEDIN
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
July 03, 2011, 03:41:38 PM
Last edit: April 03, 2013, 09:24:29 AM by Vladimir
 #173

.

-
zerokwel
Sr. Member
****
Offline Offline

Activity: 464
Merit: 250



View Profile
July 03, 2011, 07:59:37 PM
 #174

ya know. I only read this thread because I love Vladimir's responses. Which I think are valid BTW. He's selling something at a set price. If you like it pay if you don't keep walking.

Personally I prefer to run my own kit.

BUT I can understand why people pay for mining contracts. Its security and I know valdimer's Kit is not based in mam's basement so it will have damm near 100% uptime and if something breaks I bet he has a replacement to hand.





nebiki
Sr. Member
****
Offline Offline

Activity: 700
Merit: 250



View Profile WWW
July 14, 2011, 02:14:41 PM
 #175

no comments

lol. he has made a very good point, though. you take NO risk.

The  lower amount of risks (particularly of those which cannot be mitigated) taken by a service provider the more reliable the service. It is not a bug, it is a feature.

It seems that you fail to comprehend that the less risks are being taken by a service provider, the less counter-party risks are taken by it's customers.

If you disagree, you should have held your lifetime savings with Lehman Brothers in 2008, for a bit of educational experience.


that's true. your service is probably the most reliable out there. your rigs are very well set up, probably good cooling solutions and very reliable power supply. however, you're dealing with stocks here, more or less. your customers take all the risks for possible losses. your 3-month-minimum contracts make you amortize your investments almost instantly.

       ▄██▄
       ▀██▀
  ▄            ▄
 ███████████  ███
  ▀            ▀
 ▄               ▄
███  ██████████████
 ▀               ▀
 ▄               ▄
██████████████  ███
 ▀               ▀
  ▄            ▄
 ███  ███████████
  ▀            ▀
       ▄██▄
       ▀██▀

H A R A
▬▬▬▬▬▬▬▬▬▬▬▬
           ███
        █████████
     ███████████████
  █████████████████████
█████████████████████████
██  █████████████████████
██     ██████████████████
██        ███████████████
██          █████████████
██          █████████████
███         █████████████
  ████      ███████████
     ████   ████████
        █████████
           ███





██████
███▀▀▀
███
███





███
███
███▄▄▄
██████

.GLOBAL & TRANSPARENT..
.BLOCKCHAIN-BASED..........
.DATA EXCHANGE................

██████
▀▀▀███
   ███
   ███





   ███
   ███
▄▄▄███
██████
TWITTER
GITHUB
REDDIT
FACEBOOK
BITCOINTALK
LINKEDIN
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
July 23, 2011, 01:32:36 PM
Last edit: April 03, 2013, 09:24:36 AM by Vladimir
 #176

.

-
Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
August 17, 2011, 12:38:10 PM
Last edit: April 03, 2013, 09:24:42 AM by Vladimir
 #177

.

-
Ben Walsh (beamer)
Sr. Member
****
Offline Offline

Activity: 343
Merit: 250



View Profile
August 17, 2011, 01:49:48 PM
 #178

Fair enough.

I have one simple question. Who owns bitcoin.org.uk and the forum operating on it ?

All forum based support and announcements are moved to https://bitcoin.org.uk/forums/topic/8-400-per-ghpsmonth-vladimirs-mining-contracts/ . While I still monitor this thread and PM's here, my response at https://bitcoin.org.uk will be quicker.

Vladimir
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1001


-


View Profile
August 17, 2011, 02:19:09 PM
Last edit: April 03, 2013, 09:24:51 AM by Vladimir
 #179

.

-
Pages: 1 2 3 4 5 6 7 8 9 [All]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!