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Author Topic: Selling Zero-Variance Mining Contracts  (Read 1881 times)
dust
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February 13, 2011, 02:48:17 PM
 #1

I am offering 3 and 6 month mining contracts at the prices list below.  Instead of receiving the btc generated by a particular miner, buyers will receive btc daily based expected generation at the current difficulty.  Therefore, there is no variance in mining returns for the buyer, and bad luck, software issues and hardware failures are my problem.

I am looking to sell only around half of my current mining capacity and I currently have a fairly large reserve of coins (over 5000 btc).  This means the "mom's basement" factor that has been discussed on this forum is eliminated and I will pay reliably even in the event of catastrophic failure.

PM me if interested.  I can start immediately upon receiving payment.  Arbitrary contract durations can be negotiated for.  If there is a high level of interest, I will consider expanding my mining operations and offering a larger variety of contracts.

Prices
0.5 GHash/s for 3 months: 1000 USD
1.0 GHash/s for 3 months: 1900 USD
0.5 GHash/s for 6 months: 1850 USD
1.0 GHash/s for 6 months: 3400 USD

Cryptocoin Mining Info | OTC | PGP | Twitter | freenode: dust-otc | BTC: 1F6fV4U2xnpAuKtmQD6BWpK3EuRosKzF8U
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Sultan
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February 13, 2011, 03:36:46 PM
 #2

For each contract, how many BitCoins will you pay daily assuming the difficulty is the same as it currently is.

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I then use the money to buy BitCoins. You can too!
dust
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February 13, 2011, 03:44:20 PM
 #3

For each contract, how many BitCoins will you pay daily assuming the difficulty is the same as it currently is.

At the current difficulty, 0.5 GHash/s would pay 19.34 btc/day and 1.0 GHash/s would pay 38.69 btc/day.

Cryptocoin Mining Info | OTC | PGP | Twitter | freenode: dust-otc | BTC: 1F6fV4U2xnpAuKtmQD6BWpK3EuRosKzF8U
ribuck
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February 13, 2011, 06:11:59 PM
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Suppose fees become a significant part of the generated blocks. Will you be passing those on to the customer too?
dust
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February 13, 2011, 06:20:17 PM
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Suppose fees become a significant part of the generated blocks. Will you be passing those on to the customer too?

Good point.  I ignored fees as they are currently insignificant.  I suppose I could add in (customer's GHash/s / total GHash/s) * (total total fees collected) to the daily payment.  I won't worry about this until it would amount to over .01 a day.

Cryptocoin Mining Info | OTC | PGP | Twitter | freenode: dust-otc | BTC: 1F6fV4U2xnpAuKtmQD6BWpK3EuRosKzF8U
cc5alive
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June 08, 2011, 06:17:56 PM
 #6

I suppose you're rich now, huh?? Congrats!

Now accepting Bitcoin for the children's book "How to Keep Your Helicopter"
http://altanimus.com/product/how-to-keep-your-helicopter
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