83GH/s SHA256 90 day lease, ends 7th Feb - 9PM GMT

[Lightwave]

Recently sold 2 of my Avalon B2's, still got one remaining which I am looking to lease for a period of 90+ days, though I may consider longer terms.

Starting bid is 0.2 BTC, with a minimum bid increment of 0.01 BTC.

Any downtime for the miner will be compensated double, e.g. If the miner is down for 1 hour, you'll have another hour added onto your lease.

Bitcoins gained from this lease will be used to purchase more machines which will then be leased, etc.

Eligius stats typically show an average of between 82-85gh/s



Bid format;

Bid amount:
Lease Duration:

The winner will the person with the highest bid as of 9PM GMT on the 7th of February.

[Lightwave]

Forgot to note in the first post that the buyout price is 0.55 BTC.

[miaviator]

Per your terms if the miner is down for say 2 weeks due to some disaster, you would add four weeks on at the end of the term (at a more than doubled difficulty)?   Or if the miner is down for an hour at the current diff you would add 2 hours at an exponentially higher diff 90 days later?

Is this negotiable?

[rammy2k2]

u know we're in 2014 when 1 TH aint really enough ... right ?

[EnJoyThis]

I'll kick off with BTC0.20

[Lightwave]

u know we're in 2014 when 1 TH aint really enough ... right ?

According to this website the 83GH/s machine will likely generate around $590 USD (0.737 BTC) in 3 months and that's at a difficulty increase of 24% per jump, which is pretty unlikely. Therefore even at the buyout price the winner is going to make a decent profit (and that's under worst case scenario)

http://www.vnbitcoin.org/bitcoincalculator.php

I think that is fair for all parties.

Also @Miaviator, the terms are negotiable, for instance I could instead refund 1.5x what the downtime cost the buyer, e.g. If they paid 0.024 BTC for 24 hours, I'd refund 0.015 BTC per hour downtime.

[Lightwave]

Thread closed, this lease has been sold at the buyout price to EnJoyThis.

I will be opening up a new lease in a couple of days when my new hardware arrives.

[EnJoyThis]

Just for the (public) record.

Lightwave and myself have come to an agreement on this lease.

We have agreed te following:

Contract term: 100 days

If any downtime occurs Lightwave will pay for this downtime in btc as of the following calculation:

Total mining hours in this contract will be 100 x 24 = 2400 hours.
Downtime price is 0.75btc for 2400 of mining at around 83Gh/s
0.75 / 2400 = 0.0003125 btc for any missed hours of mining.

Lightwave is eleged to terminate this contract at any certain date during this contract but only after paying a termination fee equal to the remaining hours of mining left times the fee for downtime listed above.

Lightwave will provide me his wallet id and I will make payment of the agreed amount after which Lightwave will point his miner to my pool credentials.

[railzand]

@EnJoyThis

I don't suppose for a minute that scammer Lightwave is still hashing for you?

https://bitcointalk.org/index.php?topic=451262.0

[EnJoyThis]

@EnJoyThis

I don't suppose for a minute that scammer Lightwave is still hashing for you?

https://bitcointalk.org/index.php?topic=451262.0

He had been hashing for me up to a few hours ago...

[railzand]

Sorry to hear that. He pmed me saying i'd get no mining contract and no refund.