[CONCEPT] CryptoMiners

[Pikachu4170]

CryptoMiners is a concept I have in mind of attempting to rent a business building sitting next to my state road that has been unused for years without and use it as a mining facility.

The building is a 5 story glass structure that has started construction in 2007 and was finalized in 2010. The structure was left there with nobody using it. So, to prepare for the new CryptoCurrencies to be legally usable as real currency, I am going to use it as a mining facility so people can rent for slots to collect their choice of CryptoCurrency. The company will also provide exchanges as well!

We will be mining Bitcoins primarily, but we will be mining Dogecoins as a secret service.

Each floor should have 4 Raspberry Pis (Model B) loaded up with Raspbian (Debian port for Raspberry Pi) each containing 8 ASIC miners. All 4 Pis will be monitored on a Debian 8 (jessie) server.

We will only have Floor 2 of the building to leave the other floors to the other people who want to lease/rent (Floor 1 will possibly be some hub).

All custom-built servers should be tested, setted up, and linked before we get the building and place the servers on the facility and the workers (Including myself) will practice mining.

Like a bank, the company has to have strict security features due to the misuse of Bitcoin being a currency to buy illegal material (And Florida is known for crime, after all). You must be over 18 years old, must show your Birth Certificate, Social Security Number, ID (Drivers License, Passport, etc.), and criminal records (We will check your criminal records if you have never committed any crime involving drugs and/or use of weaponry) to register for a slot. For exchanging and/or receiving a paper wallet, you must be over 13 years old, and provide your ID (Passport, etc.)
-=-
Q&A:

Q1. LOL, WTF is Linux?
A1. *facepalm*

Q2. This is all wrong!
A2. This is still on it's rough draft. More things should be changed when time progresses.

Q3. Where is the building located?
A3. All I can tell is it's in Florida. I can't give you crap-tons of information where it is (I don't wanna get hunted down!).

Q4. I wanna change something on this draft!
A4. Be my guest! Reply to this and I will think about it

Q5. How much for renting to get the coins?
A5. AFAIK: $40/month for Bitcoin, and $5/month for Dogecoins.

Q6. What pool are you gonna use?
A6. Well, we are not gonna use public pools. Instead, the facility WILL have it's own private pool that the 15 servers will mine in to get the coins. The rig is the building!

Q7. Sounds interesting! This seriously needs to be put up on Kickstarter!
A7. In the middle of Yes and No. I am afraid I am not gonna meet Kickstarter's policy requirements (I can't use the money I got from the funding for getting real estate and for things I didn't create). But, we can try IndieGoGo if you wish...

Q8. Any pictures I can look?
A8. Yes. Qwilleran posted this image:
http://static.panoramio.com/photos/large/67147230.jpg

Q9. DO RESEARCH!
A9. Everything should be researched and studied before we rent the facility. We are not trying to be fast here.

Q10. This is too much "engrish"!
A10. Nobody is perfect, you know.

Q11. What if the building is fully leased/rented by someone else?
A11. Then, we move on to find another facility to work with.
-=-
Leave a reply with your thoughts and ideas for this concept!

[1714172138]

1714172138

[1714172138]

1714172138

[bitpop]

They make 32gb ram?

[bitpop]

"very powerful datacenter servers " is wrong because that would entail using xeons and server motherboards which don't have many pcie slots.

[bitpop]

Why do you care if data center edition gets 32 cpus? You only have 1.

Does x86 even support 64gb memory? You barely need 2 for gpu mining..

[bitpop]

Why is your English so bad?

[bitpop]

It's called nt kernel not nt technology.

Jesus this is a horrible idea.

[bitpop]

Why the unlocked haswell? Why ssds? Wow.

[Operatr]

Windows 2000? That hasn't been supported by Microsoft for 3 years...why should anyone trust a network running on antiquated software. "Nostalgia" has no place in a commercial network and presents a gaping security hole one could park an aircraft carrier in. You could just use a modern Linux package instead of Micro$oft which any self-respecting miner would be anyway.

What you basically propose is you would build a bunch of GPU miners that are basically gaming PCs (not servers), with Windows 2000 on them (if you can even find compatible drivers for modern components), and mine Bitcoin (which GPUs can't do for squat these days compared to ASIC machines) and some Scrypt coins.

As an actual datacenter techie and system builder, you need to do a lot more homework    Mining professionals don't do things this way, and absolutely no one in their right mind would fund this. Not to be harsh, keep dreaming big, but there is a lot here I think you are failing to consider, or research.

[Pikachu4170]

Windows 2000? That hasn't been supported by Microsoft for 3 years...why should anyone trust a network running on antiquated software. "Nostalgia" has no place in a commercial network and presents a gaping security hole one could park an aircraft carrier in. You could just use a modern Linux package instead of Micro$oft which any self-respecting miner would be anyway.

What you basically propose is you would build a bunch of GPU miners that are basically gaming PCs (not servers), with Windows 2000 on them (if you can even find compatible drivers for modern components), and mine Bitcoin (which GPUs can't do for squat these days compared to ASIC machines) and some Scrypt coins.

As an actual datacenter techie and system builder, you need to do a lot more homework    Mining professionals don't do things this way, and absolutely no one in their right mind would fund this. Not to be harsh, keep dreaming big, but there is a lot here I think you are failing to consider, or research.

Since "replying" here can change the draft (That's right. The post IS a rough draft.), I can scratch off the whole Windows thing for Debian (My preferred Linux Distro, BTW).
But I'm afraid of people calling me every few seconds asking me "WTF is Linux" a lot...

3 YEARS? That's how long the Homestar Runner hiatus is.

[Pikachu4170]

They make 32gb ram?

Probably. But I am having an idea to change it to x64 Linux machines instead.

"very powerful datacenter servers " is wrong because that would entail using xeons and server motherboards which don't have many pcie slots.

Scratching that

Why do you care if data center edition gets 32 cpus? You only have 1.

True...

Does x86 even support 64gb memory?

I think Not...

Why is your English so bad?

Nobody is perfect in this world

It's called nt kernel not nt technology.

OOOOOH.

Jesus this is a horrible idea.

Can you please never say that again.

Why the unlocked haswell? Why ssds? Wow.

SSDs have more faster data transfer speeds.
Also, WTF is haswell? Did you misspell something there?

[PMB]

Hi,

Q5. How much for renting to get the coins?
A5. AFAIK: $40/month for Bitcoin, $20/month for Litecoin, and $5/month for Dogecoins (I may add more currencies soon enough).


Are you going to rent space or kh/s ?

regards,

P.

[rarkenin]

It's called nt kernel not nt technology.

Jesus this is a horrible idea.

Why do you post 5 messages in a row? I like this idea, though not in the way this is being implemented right now.

Edit: Honestly, if you're running for moderator this is creating a bad image.

[Pikachu4170]

Hi,

Q5. How much for renting to get the coins?
A5. AFAIK: $40/month for Bitcoin, $20/month for Litecoin, and $5/month for Dogecoins (I may add more currencies soon enough).


Are you going to rent space or kh/s ?

regards,

P.

People rent by space (Or "slots")... I may have ~20 slots for each server (There's 15 planned per floor which equals 300 slots/floor [Floor 1 will not be counted]) and they get random payouts to their given addresses.

There will be 8 Bitcoin miner servers, 4 Litecoin miner servers, and 3 Dogecoin miner servers (Totaling 15 servers) per floor.

When they want to rent a slot to one of our options in our service, we give them a complementary wallet account (Usually, we will store them in online wallet accounts [Bitcoins=blockchain.info, Litecoin=liteaddress.org, Dogecoin=dogewallet.com] and they have to call us to check their balance) and they give us their contact information.

There is some fees, though (Signing up is free, but 1000 satoshis goes to my wallet from their daily payment).

[PMB]

Hum.. but You are renting space for people to use their own servers? I understood that people rent space with your servers in it is that it?

IF so how many kh/s do you get with one server?

regards,

P.

[Pikachu4170]

Hum.. but You are renting space for people to use their own servers? I understood that people rent space with your servers in it is that it?

IF so how many jh/s do you get with one server?

regards,

P.

The customer pays me monthly to pay them their desired cryptocurrency (BTC, LTC, DOGE) mined from one of my servers (A bit like a rental exchange).

I can't actually estimate how much MegaHashes per second I am gonna get (I do understand that Mining depends on what CPU/GPU you have, but if mining also depends on internet speed, I may be able to hook up Verizon FiOS internet to the facility), but more information will be revealed in the near future

[rarkenin]

Internet isn't really the bottleneck. Anyway, for SHA256 coins, why would you even consider GPUs and not ASICs? GPUs are slower and use more power per megahash. A good miner can reach into the terahashes.

[bitpop]

The 4770k is a haswell no?

[bitpop]

It's called nt kernel not nt technology.

Jesus this is a horrible idea.

Why do you post 5 messages in a row? I like this idea, though not in the way this is being implemented right now.

Edit: Honestly, if you're running for moderator this is creating a bad image.

I'm usually on my phone and editing and quoting corrupts my messages.

[rarkenin]

How come this isn't happening to everybody then? I've used these forums from my Android and my friend's iPhone. Or do you have some weird configuration?

[bitpop]

How come this isn't happening to everybody then? I've used these forums from my Android and my friend's iPhone. Or do you have some weird configuration?

Probably Swype keyboard, it messes up my google docs too.

[rarkenin]

Ah, understood. In that case,  I rescind my point, though randomly diverting attention to one of my posts when asked for an argument wasn't proper in my opinion.

[Pikachu4170]

Internet isn't really the bottleneck. Anyway, for SHA256 coins, why would you even consider GPUs and not ASICs? GPUs are slower and use more power per megahash. A good miner can reach into the terahashes.

The GPU is for mining Litecoins and Dogecoin (Due to their "Scrypt" algorithms) and for power, but I think I will add ASIC to the Bitcoin miners just to make more sense.

[bitpop]

Ah, understood. In that case,  I rescind my point, though randomly diverting attention to one of my posts when asked for an argument wasn't proper in my opinion.

I apologize, I had no come back. Merry Christmas!

[rarkenin]

The same to you, and a happy new year!

[Pikachu4170]

*bump*

(Of course I can bump if the post didn't receive any feedback after a few days...)

[rarkenin]

Don't think it'll be remotely profitable for you or your customers without ASICs.

[Pikachu4170]

Don't think it'll be remotely profitable for you or your customers without ASICs.

The Bitcoin miners in the facility WILL have Avalon ASICs installed, so no worries!

I did look up a new method to give my customers their own address: Paper Wallets (https://bitcoinpaperwallet.com/)!

I just send them their earned Bitcoins/Litecoins/Dogecoins to the address printed to the paper wallets given after registering their slot.

The paper wallet does have some strong tamper-resistant security measures (Such as resisting "candling", the process of shining a bright light through the paper to reveal what's printed inside.)

If their paper wallet gets lost, stolen, or damaged, we will replace the paper wallet with a new one with their same address.

They will be printed in waterproof paper as "water" is a more bigger threat to these wallets than "hacking".

Oh, and we will have their addresses labeled next to their names on a log.

[bigfish321]

im sold. who do i make the check out to?

p.s. - really like the idea about storing the coins in online wallets. that always works well.

[Pikachu4170]

im sold. who do i make the check out to?

Who do you make the Checkout to?  

You mean "How we check out the coins to our customer's accounts"?

We just use the Bitcoin-Qt program and send their earned cryptocurrency to their wallets, simple.

p.s. - really like the idea about storing the coins in online wallets. that always works well.

I kinda changed it to paper wallets. If people forgot their passwords to their online wallet at some time, they are screwed and have to call us to reset their passwords, making online wallets a bit of a complex process as I have to deal with 300 accounts...

[rarkenin]

You're handling wallets and payouts manually? I could probably code up a pretty comprehensive web frontend for managing this, but due to the likely downsides or setbacks of this idea, I'd have to discuss that over PM.

That said, some sort of automation and database would make your life easier, and you shouldn't have to care about what type of wallet the end-user uses. Offer them a paper wallet but let them keep money in your own cloud (on accounts that they have with you) and let them cash out to whatever wallet at whatever time, be it paper, web, or desktop client.

[artw1982]

Aren't those servers a bit overkill to run ASIC miners? I could build and sell you Raspberry Pi controllers for around $80 each and you'd save thousands on the electric bill. And with the upcoming Scrypt ASIC's I''d stay away from the video card hashing. Hold off and invest your money in the new ASICs.

[bitpop]

Yeah op, hold off and jump on first scrypt asics. Anything else you do will fail.

[Pikachu4170]

You're handling wallets and payouts manually? I could probably code up a pretty comprehensive web frontend for managing this, but due to the likely downsides or setbacks of this idea, I'd have to discuss that over PM.

That said, some sort of automation and database would make your life easier, and you shouldn't have to care about what type of wallet the end-user uses. Offer them a paper wallet but let them keep money in your own cloud (on accounts that they have with you) and let them cash out to whatever wallet at whatever time, be it paper, web, or desktop client.

Sure, you can help me with making the auto-payout mechanisms...

You can be hired as a tester for the equipment needed for the facility

Aren't those servers a bit overkill to run ASIC miners? I could build and sell you Raspberry Pi controllers for around $80 each and you'd save thousands on the electric bill. And with the upcoming Scrypt ASIC's I''d stay away from the video card hashing. Hold off and invest your money in the new ASICs.

Raspberry Pis? Those small credit card-sized ARM machines? I think I just woke up from some retrospective hypersleep or something...

Give me some time to think about it since one benefit about these Raspberry Pis is that it won't fill up a crapton of space, so I think it will be perfect if I can rent just one floor and leave the other floors for other people...

[rarkenin]

Not just that. Since they don;t hash themselves(they control a hashing machine) they don't need much computing power. You save on power costs for extra support equipment.

Regarding the auto-payout, it's not just that. It would be a website, buying and selling automatically, etc, etc. PM me if you'd like to discuss it, and I'd be glad to explain what I can do and how much I'd need.

[artw1982]

I'll sell you 4 for .25 BTC. 4 of these can run up to 32 miners. By payment address is in my signature. I also sell them on eBay for $89. I believe I'm the only one on eBay selling them.

[Pikachu4170]

Not just that. Since they don;t hash themselves(they control a hashing machine) they don't need much computing power. You save on power costs for extra support equipment.

Regarding the auto-payout, it's not just that. It would be a website, buying and selling automatically, etc, etc. PM me if you'd like to discuss it, and I'd be glad to explain what I can do and how much I'd need.

The PM is sent to you to start our discussion.

Discuss thru there and lets plan it out!

[Pikachu4170]

It is now confirmed that Bitcoin will be the ONLY SHA256-based coin since people are discussing about SCRYPT being the next best algorithm...

We will not be accepting other cryptocurrencies except Bitcoin (SHA256), Litecoin (SCRYPT), and Dogecoin (SCRYPT).

Majority of our miners WILL mine Bitcoins (SHA256) since Bitcoin is the most commonly known.

[Pikachu4170]

I'll sell you 4 for .25 BTC. 4 of these can run up to 32 miners. By payment address is in my signature. I also sell them on eBay for $89. I believe I'm the only one on eBay selling them.

Can you bundle the 4 Raspberry Pis with 16 SHA256 ASICs, and 16 Scrypt ASICs?

Also, the Pis must run on Raspbian (A community-created Debian port optimized for the Pi).

[williamj2543]

Hey,
I feel very good about this project. We need a bond equivalent for Litecoin just like Bitcoin. I'd be willing to give a couple bit coins if you would give me a spot when this opens.

[Pikachu4170]

Hey,
I feel very good about this project. We need a bond equivalent for Litecoin just like Bitcoin. I'd be willing to give a couple bit coins if you would give me a spot when this opens.

Sweet!

I will see if I can remotely hook you up when this idea is successful!

Donation address is located in my Signature

[Pikachu4170]

The post is updated.

We WILL be using Raspberry Pis and install them ASIC miners...

More info on the first post!

Keep replying with your thoughts!

[primeblock]

So little devils advocate here, been involved in quite a handful of DC and higher end server environment build-outs so while do consider this an interesting ideas there are some ideas you need to cross.

First with this location how are you going to provide secure access to the environment, a full glass building is far from ideal from several reasons. One being ease of access from the outside which unfortunately allows for a lower classification on security. While you could offset that by building internal secure access areas you then are faced with the natural disaster scenario and what it can/cannot withstand. While Florida is not prone to acts of god, hurricanes and building classifications Im sure are more prominentS.

Second, building power and feeds to be classified as any sort of redundancy you need two physical lines of power from two different hard line runs from two separate power plants. Often times with larger buildings these are readily available but considering while this may start small you have to take into account the fact that even 30 min of downtime regarding power since these are in-production money producing machines is only tolerable to a certain extent.

Third, cooling requirements again this plays into the first part and why glass buildings are not usually used for any sort of high density server environment. Unless separating physically the location of the infrastructure from the rest of the building simply using built space will prove very difficult to cool, also without dedicated cooling and relying on building cooling you risk the ability of shortening the lifespan of these machines. While this is not always the case, I would assume if you are employing asic mining as well these machines will run at close to if not over capacity thus environmental variables much more sensitive. To also compensate and adjust for this humidity in florida, probably the second worse aspect of environmental concerns over water.

Lastly, building concurrency in line with multi-access routing and I am assuming not solo-mining you will of course need to take into consideration applying multiple link points again through various means of access to your upstream providers. Along with this I would also take the separate measures of applying for some space of your own from ARIN as to allow for portability between providers. Last think you want to deal with is a bunch of BGP flapping between providers because you are not the authority on the IP space, also please consider MPLS when deploying these lines.

Just a few devils advocate observations, looks like a fun project either way just dont sell yourself short on thinking this all out as it grows.

[Pikachu4170]

So little devils advocate here, been involved in quite a handful of DC and higher end server environment build-outs so while do consider this an interesting ideas there are some ideas you need to cross.

First with this location how are you going to provide secure access to the environment, a full glass building is far from ideal from several reasons. One being ease of access from the outside which unfortunately allows for a lower classification on security. While you could offset that by building internal secure access areas you then are faced with the natural disaster scenario and what it can/cannot withstand. While Florida is not prone to acts of god, hurricanes and building classifications Im sure are more prominentS.

Second, building power and feeds to be classified as any sort of redundancy you need two physical lines of power from two different hard line runs from two separate power plants. Often times with larger buildings these are readily available but considering while this may start small you have to take into account the fact that even 30 min of downtime regarding power since these are in-production money producing machines is only tolerable to a certain extent.

Third, cooling requirements again this plays into the first part and why glass buildings are not usually used for any sort of high density server environment. Unless separating physically the location of the infrastructure from the rest of the building simply using built space will prove very difficult to cool, also without dedicated cooling and relying on building cooling you risk the ability of shortening the lifespan of these machines. While this is not always the case, I would assume if you are employing asic mining as well these machines will run at close to if not over capacity thus environmental variables much more sensitive. To also compensate and adjust for this humidity in florida, probably the second worse aspect of environmental concerns over water.

Lastly, building concurrency in line with multi-access routing and I am assuming not solo-mining you will of course need to take into consideration applying multiple link points again through various means of access to your upstream providers. Along with this I would also take the separate measures of applying for some space of your own from ARIN as to allow for portability between providers. Last think you want to deal with is a bunch of BGP flapping between providers because you are not the authority on the IP space, also please consider MPLS when deploying these lines.

Just a few devils advocate observations, looks like a fun project either way just dont sell yourself short on thinking this all out as it grows.

tl;dr :|

[primeblock]

tl;dr :|

So your not serious about this then I'm assuming, this post while "long" are serious factors to consider when venturing down this road...just attempting to pass on some vetted knowledge to you for free to help out..

Ill summarize, to prevent you from having to actually read it..

Building not suited for any high density Environment
Environmental concerns for cooling and humidity
Physical Access Security major concern
Power requirements for high density environment need to be factored in
Routing and Upstream Provider Considerations from a very high level

There ya go!

[Pikachu4170]

Building not suited for any high density Environment
Environmental concerns for cooling and humidity
Physical Access Security major concern
Power requirements for high density environment need to be factored in
Routing and Upstream Provider Considerations from a very high level

1. High Density? Our equipment is not gonna be that large...
2. We will have Air Conditioning and we will control humidity.
3. We will have security systems installed (We do need to take care of the company like a bank).
4. Like estimating our energy consumption?
5. That I don't know...

[primeblock]

Building not suited for any high density Environment
Environmental concerns for cooling and humidity
Physical Access Security major concern
Power requirements for high density environment need to be factored in
Routing and Upstream Provider Considerations from a very high level

1. High Density? Our equipment is not gonna be that large...
2. We will have Air Conditioning and we will control humidity.
3. We will have security systems installed (We do need to take care of the company like a bank).
4. Like estimating our energy consumption?
5. That I don't know...

I will just make the suggestion here without even going into all the above, look into sub-leasing colo space and or at minimum a Class A facilities. Factoring Triple Net cost on a building that your hosting customer equipment in requires all the above regardless of how "dense" you may think it is. Otherwise you are just risking pissing off customers because when you relying on "building facility" air they decide to shut it off after hours , or during the winter times they crank up the heat and half your asic's are shutting down because of it.

Lets say you take over a whole floor, I would assume without knowing the local market you would be looking at ballparking it 20k a month just for lease space, not counting triple net. You will then have your buildout cost approx 250k-500k depending on how you negotiate the lease, and assuming the building is up for it also at min a 3 yr lease. So your capex upfront just on space is about 750k plus your buildout cost and or operating equipment, upstream providers, hardware etc etc. I would easily see this being a 2-3mm startup cost adjusted over a 3 yr period, thats on the cheap.

So focus on what your MVP model will be, your fastest to market to start getting customers and scale up from there to prove the model before you jump feet first into what seems to be a foreign market to you. If you go the colo sub-lease route you will save you infrastructure cost and cut your capex down to a pretty manageable MRC cost that you can factor what your customer acquisition cost will be in the long run.

Security systems installed into what, how does that change the fact that you will possibly have machines generating 10k+ dollars on them and there is a plate glass window at ladder height?

Also as far as energy consumption, re my too long post it will help you out with understanding the basics of a very minimal redundancy aspect when it comes to providing a hosting facility.

This can all be accomplished but your going from one aspect of generating bitcoins, to the aspect of customers relying on you who are paying for a service and you have to cover all basis contractually.

Feel free to ping me offline, ill put you in touch with a few resources if your serious about moving forward at least to steer you in the right direction so you dont sink a bunch of time and money into something.

[Pikachu4170]

I will just make the suggestion here without even going into all the above, look into sub-leasing colo space and or at minimum a Class A facilities. Factoring Triple Net cost on a building that your hosting customer equipment in requires all the above regardless of how "dense" you may think it is. Otherwise you are just risking pissing off customers because when you relying on "building facility" air they decide to shut it off after hours , or during the winter times they crank up the heat and half your asic's are shutting down because of it.

Lets say you take over a whole floor, I would assume without knowing the local market you would be looking at ballparking it 20k a month just for lease space, not counting triple net. You will then have your buildout cost approx 250k-500k depending on how you negotiate the lease, and assuming the building is up for it also at min a 3 yr lease. So your capex upfront just on space is about 750k plus your buildout cost and or operating equipment, upstream providers, hardware etc etc. I would easily see this being a 2-3mm startup cost adjusted over a 3 yr period, thats on the cheap.

So focus on what your MVP model will be, your fastest to market to start getting customers and scale up from there to prove the model before you jump feet first into what seems to be a foreign market to you. If you go the colo sub-lease route you will save you infrastructure cost and cut your capex down to a pretty manageable MRC cost that you can factor what your customer acquisition cost will be in the long run.

Security systems installed into what, how does that change the fact that you will possibly have machines generating 10k+ dollars on them and there is a plate glass window at ladder height?

Also as far as energy consumption, re my too long post it will help you out with understanding the basics of a very minimal redundancy aspect when it comes to providing a hosting facility.

This can all be accomplished but your going from one aspect of generating bitcoins, to the aspect of customers relying on you who are paying for a service and you have to cover all basis contractually.

Feel free to ping me offline, ill put you in touch with a few resources if your serious about moving forward at least to steer you in the right direction so you dont sink a bunch of time and money into something.

You seem pretty much the informative type of guy...

Sure, you can help me get on the track (After all, this is in its drawing boards).

[williamj2543]

Sorry for not posting in a while, but I was on vacation. Anyways, some guy on this page said that florida was a bad idea. Yes, I agree with that because by default there is hot weather, so air conditioning will cost more, and if the air conditioning fails you are F*cked. Now it may not be possible to move somewhere else, but if this were to be a huge company, move to antartica or alaska where the power is really cheap. Also, there is free cooling there and its pretty empty so there is less people to steal your mining equipment. That probably wouldn't be necessary right now when you are small, but if you turn into something like ghash.io, its necessary to move to a place like that. About my donations, unless I see progress there will be no donations whatsoever. Maybe the OP (does OP mean original poster??? Im a forum noob lol) is just some scammer looking for some free money then hes going to run away. Anyways, thats probably not true but I need to see real progress soon or theres no deal. Maybe you should buy a few rigs and mine in your basement or something and see how you like it, and if you do then try it. And lastly, if I donate I would maybe expect a return like a stock or something. For example if I donated maybe 100$ worth of cryptocoins, you could give me a percentage of your profits for a month or something.
Well, thats all I have to say. On a side note BTC and LTC webt up today, with LTC hitting 30$ and BTC hitting 1000$. Whoohoo.

[Pikachu4170]

Sorry for not posting in a while, but I was on vacation. Anyways, some guy on this page said that florida was a bad idea. Yes, I agree with that because by default there is hot weather, so air conditioning will cost more, and if the air conditioning fails you are F*cked. Now it may not be possible to move somewhere else, but if this were to be a huge company, move to antartica or alaska where the power is really cheap. Also, there is free cooling there and its pretty empty so there is less people to steal your mining equipment. That probably wouldn't be necessary right now when you are small, but if you turn into something like ghash.io, its necessary to move to a place like that. About my donations, unless I see progress there will be no donations whatsoever. Maybe the OP (does OP mean original poster??? Im a forum noob lol) is just some scammer looking for some free money then hes going to run away. Anyways, thats probably not true but I need to see real progress soon or theres no deal. Maybe you should buy a few rigs and mine in your basement or something and see how you like it, and if you do then try it. And lastly, if I donate I would maybe expect a return like a stock or something. For example if I donated maybe 100$ worth of cryptocoins, you could give me a percentage of your profits for a month or something.
Well, thats all I have to say. On a side note BTC and LTC webt up today, with LTC hitting 30$ and BTC hitting 1000$. Whoohoo.

Antartica/Alaska? I can't just "move" to another place that easily, you know...

Also, if A/C fails, I can just try to override the computer fans at a more higher speed and quickly fix the A/C (My grandfather is an expert on Air Conditioning, so I can just call him and try to diagnose it to resolve the problem).

Also, progress? Just give me a method of contact just to keep you in touch of any updates to the project (Also, please tell me how often you want me to keep you up to date).

[williamj2543]

Sorry for not posting in a while, but I was on vacation. Anyways, some guy on this page said that florida was a bad idea. Yes, I agree with that because by default there is hot weather, so air conditioning will cost more, and if the air conditioning fails you are F*cked. Now it may not be possible to move somewhere else, but if this were to be a huge company, move to antartica or alaska where the power is really cheap. Also, there is free cooling there and its pretty empty so there is less people to steal your mining equipment. That probably wouldn't be necessary right now when you are small, but if you turn into something like ghash.io, its necessary to move to a place like that. About my donations, unless I see progress there will be no donations whatsoever. Maybe the OP (does OP mean original poster??? Im a forum noob lol) is just some scammer looking for some free money then hes going to run away. Anyways, thats probably not true but I need to see real progress soon or theres no deal. Maybe you should buy a few rigs and mine in your basement or something and see how you like it, and if you do then try it. And lastly, if I donate I would maybe expect a return like a stock or something. For example if I donated maybe 100$ worth of cryptocoins, you could give me a percentage of your profits for a month or something.
Well, thats all I have to say. On a side note BTC and LTC webt up today, with LTC hitting 30$ and BTC hitting 1000$. Whoohoo.

Antartica/Alaska? I can't just "move" to another place that easily, you know...

Also, if A/C fails, I can just try to override the computer fans at a more higher speed and quickly fix the A/C (My grandfather is an expert on Air Conditioning, so I can just call him and try to diagnose it to resolve the problem).

Also, progress? Just give me a method of contact just to keep you in touch of any updates to the project (Also, please tell me how often you want me to keep you up to date).

Hey,
I guess I wasn't really thinking about when you said this, and I agree its extremely hard to move, but if you get shown great interest into this project, and if you get tons of customers and your business goes well, you probably will need to relocate. Thats only if you get really bix like ghash.io or something like that. About the AC, yes you can override it, but at the 40 or higher degree weather in Florida, its a bit hot for the graphics cards, and running the fans at full 100% speed isn't really good for the fans and the fans will break down a lot sooner, and when the fan breaks the card will overhead without you knowing and will probably cause further damage.
For keeping me up to date and other chatting methods please use my skype: williamj2543 OR you can use my email: williamj2543@gmail.com. Email is probably preferred for updates, but I would like to have your skype for any questions that I can get quick answers for.
Thanks!

[Pikachu4170]

Hey,
I guess I wasn't really thinking about when you said this, and I agree its extremely hard to move, but if you get shown great interest into this project, and if you get tons of customers and your business goes well, you probably will need to relocate. Thats only if you get really bix like ghash.io or something like that. About the AC, yes you can override it, but at the 40 or higher degree weather in Florida, its a bit hot for the graphics cards, and running the fans at full 100% speed isn't really good for the fans and the fans will break down a lot sooner, and when the fan breaks the card will overhead without you knowing and will probably cause further damage.
For keeping me up to date and other chatting methods please use my skype: williamj2543 OR you can use my email: williamj2543@gmail.com. Email is probably preferred for updates, but I would like to have your skype for any questions that I can get quick answers for.
Thanks!

No problem.

[Pikachu4170]

Also, UPDATE:

I am at a Burger King and when I passed the building I was planning for this project I saw a few trucks and a guy trying to check out the place (Noticed it was someone mowing the lawn  ). (No photo to prove it, though)

Due to this, I may have to scratch off the building part of the project and try to find another one (Probably around Massachusetts to make it near the MIT, the institution I am planning to go to).

Not right now though as it is still not leased yet (I can still see the signs).

Oh, I also forgot to tell this all along:
The project will not be complete until maybe 4-5 years (Reality: I'm in High school planning to go to the MIT; I have a lot of passion in mathematics and technology, BTW), but the draft will still be in progress time to time.

I'm not sure if Bitcoins can still be mined half a decade later. I think ~75% of the coins could have been mined at that time...

[williamj2543]

Hey,
Litecoin mining and bitcoin mining profitability will go down, and will be unprofitable probably in 2-3 years. I thought you were going to do this soon, so if you cant say you are doing this within the next year, I'm probably out. Who knows where mining will be like in 4-5 years, and I wouldn't want to invest in this. I'd still be happy to support this with info or suggestions, and am still really interested, but again if you want this to be successful you NEED to start right now or within a few months. Remember, less than a month litecoin mining at 720kh/s could make 15$ a day, now thats down to about 5-6$.

[Pikachu4170]

Hey,
Litecoin mining and bitcoin mining profitability will go down, and will be unprofitable probably in 2-3 years. I thought you were going to do this soon, so if you cant say you are doing this within the next year, I'm probably out. Who knows where mining will be like in 4-5 years, and I wouldn't want to invest in this. I'd still be happy to support this with info or suggestions, and am still really interested, but again if you want this to be successful you NEED to start right now or within a few months. Remember, less than a month litecoin mining at 720kh/s could make 15$ a day, now thats down to about 5-6$.

I'm still too young...

If I really need to do this right away, I need someone older than me to handle it for me...

[Pikachu4170]

*Bump*

[Mivexil]

CryptoMiners is a concept I have in mind of attempting to rent a business building sitting next to my state road that has been unused for years without and use it as a mining facility.

Okay, I assume that if you want to rent a whole building, or even a whole floor, it's going to be a really huge enterprise...

Each floor should have 4 Raspberry Pis (Model B) loaded up with Raspbian (Debian port for Raspberry Pi) each containing 8 ASIC miners. All 4 Pis will be monitored on a Debian 8 (jessie) server.

Oh wait, nevermind.

Also:

Oh, I also forgot to tell this all along:
The project will not be complete until maybe 4-5 years (Reality: I'm in High school planning to go to the MIT; I have a lot of passion in mathematics and technology, BTW), but the draft will still be in progress time to time.

Well, that is quite an ommision. You want to mine DOGE in 4 years from now. Good luck with that.

[Pikachu4170]

CryptoMiners is a concept I have in mind of attempting to rent a business building sitting next to my state road that has been unused for years without and use it as a mining facility.

Okay, I assume that if you want to rent a whole building, or even a whole floor, it's going to be a really huge enterprise...

Each floor should have 4 Raspberry Pis (Model B) loaded up with Raspbian (Debian port for Raspberry Pi) each containing 8 ASIC miners. All 4 Pis will be monitored on a Debian 8 (jessie) server.

Oh wait, nevermind.

Also:

Oh, I also forgot to tell this all along:
The project will not be complete until maybe 4-5 years (Reality: I'm in High school planning to go to the MIT; I have a lot of passion in mathematics and technology, BTW), but the draft will still be in progress time to time.

Well, that is quite an ommision. You want to mine DOGE in 4 years from now. Good luck with that.

Firstly, we have to start out small (2nd floor) if other clients want to lease out the whole building. If no one leased the rest, we will slowly lease each floor.

Second, shouldn't The Bitcoin Foundation create more unmined Bitcoins? No mining means that Bitcoins will be like Trading Cards (And Bitcoin aren't even classified as trading cards). There should be more Bitcoins out there in the next few years to still call Bitcoin a currency of the future.

[rarkenin]

Second, shouldn't The Bitcoin Foundation create more unmined Bitcoins? No mining means that Bitcoins will be like Trading Cards (And Bitcoin aren't even classified as trading cards). There should be more Bitcoins out there in the next few years to still call Bitcoin a currency of the future.

They don't have the power to. It's not centralized around them. Only miner consensus would result in that.

[Pikachu4170]

They don't have the power to. It's not centralized around them. Only miner consensus would result in that.

So, mining is still possible in the future?

(And yes, I remembered that Bitcoin is controlled by everyone)

[rarkenin]

It is possible but becomes harder and less profitable for almost all coins as time goes on.

[Pikachu4170]

Bimpitty Bompitty Bump!