about how cheap do you think you'll be able to get the price per ghash down? if you can get it to even 75% of what cex is offering atm, i think it would drive a lot of interest (assuming you have enough hashing power that is)
The price will be market driven like CEX.io. Although I may institute a fair market cap on prices to prevent them from being sold for 10x or more than what they are really worth like it is at CEX.io. A base price would be hard to guess at The Wasps will use ANY chip, sha or scrypt or (anything else) and you can mine any crypto-whats-it if you install the chip for it, so the price to build is anywhere between $7-3 a GH/s for Bitcoin mining depending on the chip and volume discounting. Of course that price will go down as the price of GH/s per chip goes down. Its dynamic, not static. An example of what could make a substantial difference in cost is Bitmine's
Coincraft A1 28nm ASIC. If you buy 500 A1 chips they cost $3.5 per GH/s at a price of $44,000 or $88 per chip. 10,000 A1 chips at that price would set you back $880,000. But, Bitmine gives a volume discount, for 10,000 A1 chips the price is $2.8 per GH/s for a total of $700,000. Thats a savings of around 20% or $180,000!
That 20% difference definitely determines if, and how long it will take, you (to) make ROI. Buy the way, that's one reason why the
BIG mining companies are able to continue mining and profiting with the same chip you have in your Block Erupter while you are trying to figure out whether to toss your Block Erupter in the trash can or send it to be recycled, plus they build there own miners for their own mining and to sell them to you for a markup. They generally do not pay retail for there miners. So, as an individual, you don't have a chance to compete with those guys. That's why I started SWMC, to give the average person as close to the same opportunity as the
BIG GUYS have as possible. Unfortunately, not enough people have seen the light and joined us. Imagine how profitable your bitcoin mining investment would be if you joined a collective and you all raised the capital to purchase 10,000 A1 chips, or 20,000 or 30,000. There you would be, with your tiny contribution of 0.3 BTC earning the same profit percentage as any of the
BIG mining operations out there, instead of desperately trying to figure out how to get your hands onto a few TH/s of gear.
Anyway, I digress.
You will own the hashing power that your chips produce
sounds too good to be true
Why?
As far as the Hashing Exchange, the SWMC will derive its revenue from trading fees, hosting fees and selling its own hashes, so it benefits SWMC to offer the service. The more hashing power we have the higher the volume of hashes traded - ergo --> a higher volume of hosting and trading fees collected by SWMC. And SWMC isn't going to mount those chips onto a Wasp for free. SWMC will offer to mount the chips in exchange for either a fee, a percentage of the total number of chips or by some other mutually beneficial arrangement. Any chips acquired through this method will be added to the mix of chips that SWMC purchases to satisfy its own needs.
So you can see that there is sound reasoning behind offering a 'chip mounting'/hosting/'trade or keep your hash' service: higher volume of hashes traded in the Hashing Exchange increases the volume of collected trading fees, hosting more units increases collected hosting fees, convenient access to ASICs helps increase SWMC's own chip count, being fair and sharing the opportunity with others makes people happy which will make people love SWMC which in turn provides SWMC with greater opportunities (opportunities that SWMC will, again, share with others! Hey, anyone feel like breaking out and singing "The Circle of Life?"
)
Since I brought up the topic of sharing opportunity, SWMC will be offering investment contracts specifically for the Hashing Exchange. Help SWMC purchase the ASICs and supporting hardware and you'll get a portion of the profits generated by your investment's share of the exchange. Hmm... thinking... Maybe we could do a Protoshare Dac, Mastercoin app or our own SWMC proof of stake crypto-"coin." Maybe a SWMC HashExCoin for easy trading and transfer of ownership in the Hashing Exchange. We can call it the HEX... Ahhh!! There we go, we could rip the CEX.io concept almost completely. We could call the exchange
HCX (
HCX <-compare-> CEX.
) 'made the
C in
HCX by using a capital 'C' and the strikeout bbs code' Don't take this naming business too seriously, mostly I'm just fun'n around. (Or maybe brainstorming?)
So railzand, what is your opinion now?
Thanks,
James
