Interested In Investing?

[LilGhost]

I was curious if anyone was interested in doing a simple investment.

The market is changing and people who are pulling little Mh/s and small Gh/s simple are going to get cut out. So why not team together? We all know what pool mining it, but let's take it a step further.

The idea is simple: an investor sends money along with the bitcoin address to pay the bitcoins out to, the investor receives a percent of the total investment owned, the person who money was sent to buys a large mining rig better than most others, mining rig is received to the person who the money was sent to, the person sets up the mining rig and begins mining. Every two weeks the money is calculated like such:
(TotalBitCoinsEarned * .925)/1000 = PriceToPayPerShare
PriceToPayPerShare *  TotalSharesOwned = TotalBitCoinsWeOweYou

So let me explain that, TotalBitCoinsEarned is the TotalBitCoinsEarned in the 2 week period. That number is multiplied by .925 to remove 7.5% to pay for electricity and hassle on the end of the person who received the money originally and processes the funds. So thus at that point we're left with the money to disperse to the investors. We then divide that number by 1000 to calculate the total number of earnings per share.

So, let's say you own 50 shares and we make 10 bitcoins in 2 weeks:
(10 * .925)/1000 = X
9.25/1000 = X
0.00925 = X

X * 50 = Z
Z = 0.4625

That's 58.78 dollars (USD) on the price of $127.1 per bitcoin.

So let's say each share is $24.
You buy 100 shares.
You've invested $2400.
With your $2400 and shares from other people, we buy 8 TH/s worth of power.
The difficulty has exactly doubled and is now at: 225,257,098
Bitcoins are trading at: $131.57 (USD)

We would be able to mine ~17.861 BTC per day.
Based on that (17.861 * 14) would be 250.054 BTC.
This would mean we make 250.054 BTC in 2 weeks.
Now we take 250.054 * .925 to factor out 7.5% for power and hassle.
And we're left with 231.29995 BTC in profits.
Divide that by 1000 to get 0.23129995 as the price per share.
Multiply that by 100 due to your total number of shares and get 23.129995 BTC
You would be sent 23.129995 BTC which in USD is $3043.21 at the rate of $131.57.

This is a theoretical 2 week cycle using logical possible values. But based on that you would get your ROI + some in 2 weeks and you could continue to earn more every 2 weeks.


Just a thought. If anyone's interested in doing this sort of thing together, hmu.

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[Baitty]

You would have to find a suitable person to send the initial Bitcoin too and someone who is available and willing to send each persons share. Finding someone this trustworthy could prove to be quite a problem. Most people who are trustworthy may not be interested in this because they can afford the equipment themselves and don't want to rely on others & people claiming they haven't received anything.

[LilGhost]

You would have to find a suitable person to send the initial Bitcoin too and someone who is available and willing to send each persons share. Finding someone this trustworthy could prove to be quite a problem. Most people who are trustworthy may not be interested in this because they can afford the equipment themselves and don't want to rely on others & people claiming they haven't received anything.

This is a valid point, but the user who operates the machinery would ultimately be the one who sent the money. On top of that there would be a simple way to solve this, everyone can see the transaction history of a specific bitcoin address using Blockchains at:
https://blockchain.info/address/<WalletAddress> and thus if the owner of the machines tried to cheat everybody out of their money, it would be known immediately and visible to everyone because it would appear in the blockchain transaction history.

Also, everyone would be able to see the addresses of everyone else and how many shares that person owns to confirm they were all paid equally (by cross referencing the blockchain history with the number of shares owned and the wallet addresses)

[Welsh]

You would have to find a suitable person to send the initial Bitcoin too and someone who is available and willing to send each persons share. Finding someone this trustworthy could prove to be quite a problem. Most people who are trustworthy may not be interested in this because they can afford the equipment themselves and don't want to rely on others & people claiming they haven't received anything.

This is a valid point, but the user who operates the machinery would ultimately be the one who sent the money. On top of that there would be a simple way to solve this, everyone can see the transaction history of a specific bitcoin address using Blockchains at:
https://blockchain.info/address/<WalletAddress> and thus if the owner of the machines tried to cheat everybody out of their money, it would be known immediately and visible to everyone because it would appear in the blockchain transaction history.

Also, everyone would be able to see the addresses of everyone else and how many shares that person owns to confirm they were all paid equally (by cross referencing the blockchain history with the number of shares owned and the wallet addresses)

But, this proposes a risk also. For people to know its a scam some people have o be scammed. The person could play it safe up until. A certain time where they are bringing it more bitcoin at that point they could run with the money. This means a lot more people could lose out.



However, if done correctly I think it could work very well.

[LilGhost]

You would have to find a suitable person to send the initial Bitcoin too and someone who is available and willing to send each persons share. Finding someone this trustworthy could prove to be quite a problem. Most people who are trustworthy may not be interested in this because they can afford the equipment themselves and don't want to rely on others & people claiming they haven't received anything.

This is a valid point, but the user who operates the machinery would ultimately be the one who sent the money. On top of that there would be a simple way to solve this, everyone can see the transaction history of a specific bitcoin address using Blockchains at:
https://blockchain.info/address/<WalletAddress> and thus if the owner of the machines tried to cheat everybody out of their money, it would be known immediately and visible to everyone because it would appear in the blockchain transaction history.

Also, everyone would be able to see the addresses of everyone else and how many shares that person owns to confirm they were all paid equally (by cross referencing the blockchain history with the number of shares owned and the wallet addresses)

But, this proposes a risk also. For people to know its a scam some people have o be scammed. The person could play it safe up until. A certain time where they are bringing it more bitcoin at that point they could run with the money. This means a lot more people could lose out.



However, if done correctly I think it could work very well.

This is true. I'll probably end up doing this with a few people I personally know.

[ManicMeddler]

send me all your money and i'll buy us a minirig, it will be ours but i'll keep it at my house.

can't see it catching on tbh 

[LilGhost]

send me all your money and i'll buy us a minirig, it will be ours but i'll keep it at my house.

can't see it catching on tbh 

Honestly though, it's like a stock. There are shares. People buy these shares and the receiver of the money (in a stock-trade, the company) reinvests these shares in an attempt to turn them into large profits.

Plus there are a lot of contract-based bitcoin mining sites/systems which aren't too much different. The only difference is saying "instead of paying me for X amount of GH/s, you're paying me for X% of profits"

The only difficulty with someone implementing an idea like this is trust.

[schucker]

This seems like the idea of mining shares sold on bitcoin stock exchanges. They pay you daily, weekly or bi-weekly with a calculation like yours. But probably the provider do this for more profit than %7.5 . If you can find trustable people you can earn more with this method, but it's hard to trust people on internet and even if you find the people, it's not easy to buy good miners for a suitable price if you don't want to wait. If you wait then the difficulty will increase on and on. Only if you find a person with a mining rig who wants to sell shares of his system, this will be a good idea. And when many people are involved what will you do when miner is broken, will everybody still trust the provider, i don't think so. I think that's why the stock system is being used.

[marcotheminer]

send me all your money and i'll buy us a minirig, it will be ours but i'll keep it at my house.

can't see it catching on tbh 

Exactly what crossed my mind. To be honest, its all about the trust you can build with others before setting up a profitable business like this one!

[aka_nick]

The real trouble here is that there's no store you can walk into and walk out with 8TH/s of power. It's really only BFL shipping actively and their backlog is still over a year behind on the high end machines. KNC, Cointerra and others have big GH/s machines in the pipeline but it's still a gamble if they'll even ship!

[ManicMeddler]

The real trouble here is that there's no store you can walk into and walk out with 8TH/s of power. It's really only BFL shipping actively and their backlog is still over a year behind on the high end machines. KNC, Cointerra and others have big GH/s machines in the pipeline but it's still a gamble if they'll even ship!

look into phoenix technologies, its the chinese clone at fairly good (difficulty increasing) prices

http://thebitcoinnews.co.uk/2013/09/16/chinese-company-phoenix-technologies-increases-production-of-asic-chips/

[LilGhost]

The real trouble here is that there's no store you can walk into and walk out with 8TH/s of power. It's really only BFL shipping actively and their backlog is still over a year behind on the high end machines. KNC, Cointerra and others have big GH/s machines in the pipeline but it's still a gamble if they'll even ship!

Cointerra is plopping out some 2 TH/s machines in batch 2 in January.

[marcotheminer]

The real trouble here is that there's no store you can walk into and walk out with 8TH/s of power. It's really only BFL shipping actively and their backlog is still over a year behind on the high end machines. KNC, Cointerra and others have big GH/s machines in the pipeline but it's still a gamble if they'll even ship!

Cointerra is plopping out some 2 TH/s machines in batch 2 in January.

Damn! Thats what im talking about!
I should look into them

[odolvlobo]

I was curious if anyone was interested in doing a simple investment.

The market is changing and people who are pulling little Mh/s and small Gh/s simple are going to get cut out. So why not team together? We all know what pool mining it, but let's take it a step further.

The idea is simple: an investor sends money along with the bitcoin address to pay the bitcoins out to, the investor receives a percent of the total investment owned, the person who money was sent to buys a large mining rig better than most others, mining rig is received to the person who the money was sent to, the person sets up the mining rig and begins mining. Every two weeks the money is calculated like such...

This already exists. Take a look at the Mining Contract and Revenue Sharing sections here: https://btct.co/security. Also, google "perpetual mining bond".  A warning: people that invest in these rarely make a profit because they don't know how to determine the value and they pay too much.