Hi,
I would like to buy 4 shares, but I have 2 questions that I can't find the answers to in this thread.
1) We don't have to actually set our shares up to mine, other than give you our pay-to address which receives payment (- fees) bimonthly? Like we don't choose which pool or anything?
2) How long will the miners be ran for? I imagine, unless you get free electricity, it will cost in excess of fees for you to run the miners. When that happens, will we no longer receive any payout, and do you anticipate when that might be? I.e., what is your criteria for turning off the R9 miners?
Hopefully there are still shares available in the morning when I check for a response, unless you see this before I go to sleep.
Thanks!
Im more than happy to answer your questions.
1) We will probably go with a poplular 0% pool like elgius, or a big pool like BTC guild, or a mix. YOu wont have to set it up, but you certainly have a say in it (if you buy shares)
2) We are working to move to a system where the flat cost in power per month is deducted from each payment, then processed out to each buyer, So the machines will be run for as long as profitable power wise, and or when we decide to sell them.
Hi glongsword,
Thank you for your questions! I appreciate it as I can get too close to the trees to see the forest at times. My thoughts on this:
1) Part of the value of your at-cost or below-cost share is your access to true world class IT expertise. I've been an IT pro for about 13 years and I've designed many DoD certified systems and networks that will never see the light of day, or are only used in labs and field tests, for many cutting edge research projects for about 10 years. -R- is a well paid IT consultant who also may have a security clearance (if I have to tell you...j/k).jungle_dave is a retired EE / Network Engineer (who also knows the exact research lab I work at) who plants trees in the Amazon. bobsag3, our primary miner host, is an IT veteran who has a better hosting setup and pricing then you'll find *anywhere* IMHO.
I've also done well with arbitrage over the years selling CRTs, pre-order Wiis, a BFL Jalapeno at $1850, two July 4 BFL pre-orders at a $100 premium instead of a battle for a refund w/ BFL (lemonade is a specialty of mine).
Our co-op is also different in that we vote on things. I designed this co-op as an amateur historian (80-85% of a US History degree only w/ an IT degree) with the strong belief that the best form of governance is a direct representative democracy, which works as long as people are involved and committed. This is very much a democratic experiment in project. It's working so far.
However, there's been 7 people involved (including mootinator and unknown.usr) that have volunteered time I estimate at well over $10,000 worth of expert pro bono work to turn this co-op into a smooth running (or relatively smooth running) co-op that really is WYSIWYG as we're transparent about *everything* regarding the running of the co-op and Group Buy Round.
===============================================================================================================
One of our votes will be: When should we sell this miner? ===============================================================================================================
This question holds true for every DZ MC miner that is or will be in existence. I'm truly hardware neutral although I admit I'm most impressed with HashFast, and with some reservations, KnC, who did over deliver as far as hashrate even if there's been some unhappy campers.
If you go by TGB projections, you'll note an interesting thing for any of the high end miners: most of the annual ROI is already reached by the 5th to 6th month, meaning: if you could still get some sort of premium for in-hand, used hardware we can aim to sell it here, BitMit, eBay, Coingig, places co-op members suggest, etc., etc.
--
2) Per our last Skype call, bobsag3 won't be able to afford to run our miners past February at current hosting rates. This 2.75% Industry low Hosting/Management fee was only meant to be an introductory offer instead of a permanent rate to help establish bobsag3. With my input, and with backing from a local investor, in this network engineer's opinion, he's now a serious contender for most ASIC friendly and most impressive facility built I've heard of from a "regular forum guy" (albeit backed by an investor) and with me as his marketing/management agent who also double vetted him and assisted him in designing his building and the special TLC being set up just for the DZ MC.
This co-op's facility, with Industrial UPS units and Battery Banks, a Gas Generator for longer outages, dual network connections (
including plans for a 4G router/account very soon for redundancy through longer outages) and special A/C cooled cabinet, combined with our low hosting fees and mesh network of vetted network engineers and IT pros mean that the DZ MC has the very best hosting conditions for any ASIC miner you'll likely to come across or hear about.
The going rate for GBs of this type appears to be 3%. I expect other GBCs may have to raise their rates next year. Just because BTC is deflationary in nature doesn't mean that we don't face inflationary pressures when it comes to hosting and operating ASIC rigs.
Sorry, for the length of my response. I'm not known for my brevity of thought.
==
TL;DR: This co-op is run by Kool Aid drinkers that are sick of seeing fellow miners getting ripped off and want to help out the Willie Lomans and other "little guys/gals" around the world that want to venture into ASIC mining (or just want to spread their bets) by giving them the same access to the very best ASIC values that only someone with deep pockets has.
