minning contracts

[panadora78]

i m asking here about mining contracts how real is it ? and if it is a trust-able service what is the best provider
thank you

[tspacepilot]

Hiya, can you say a bit more about what a mining-contract is?  I mean, where did you hear about them, etc?  That would help me to look up what you are talking about.

[panadora78]

A mining contract is a way to allow the seller of the contract to rent his mining power to the buyer of the contract.

This means you can buy or sell mining power (or the obligation to pay bitcoins at the same rate as mining does).

We can't force sellers to mine bitcoins, but we can force them to pay the equivalent amount of bitcoins that mining would produce.

It is wise for sellers to have mining power to back up their contract, since this allows them to hedge against changes in network difficulty.

 

For example, buying a 1GH/s mining contract guarantees you will be paid the the same amount of bitcoins as a 1GH/s mining rig would produce (if that rig had no downtime, no stales, and no variance).
https://ferroh.com/mining/intro this is the source of the article

[monbux]

I made an account there a while ago - It's closed to most members, it's not finished.

[panadora78]

I made an account there a while ago - It's closed to most members, it's not finished.

i ve read some reviews about some other providers but i need to get confirmation about the hole process not a specific provider does the mining contracts work ? thank you

[b!z]

I made an account there a while ago - It's closed to most members, it's not finished.

i ve read some reviews about some other providers but i need to get confirmation about the hole process not a specific provider does the mining contracts work ? thank you

I suggest buying shares in a mining company (ASICMINER if you can get it cheap, or Labcoin).