[Pon3 Mining] Scrypt/BTC Hybrid Year Long Mining Operation IPO

[railzand]

25% roi 

[cooldgamer]

25% roi  

The reason is that BTC price plummeted, making the hosting costs for Scrypt almost double in BTC.  That combined with how fast Scrypt ASICs took over the market made GPU mining profitability go down pretty fast.  There is also the fact that the Ant still isn't sold (along with the Gridseed).  Don't forget about the 20% reinvestment/maintenance fee, which is going to be put in a BTC miner groupbuy starting up in the next day or two once my DC gets more power hooked up.  This mining OP was partially a gamble on if Scrypt ASICs would kill GPU mining, which they more or less did.

[lynn_402]

25% roi 

The reason is that BTC price plummeted, making the hosting costs for Scrypt almost double in BTC.  That combined with how fast Scrypt ASICs took over the market made GPU mining profitability go down pretty fast.  There is also the fact that the round 1 Ant still isn't sold (along with the Gridseed).  Don't forget about the 20% reinvestment, which is going to be put in a BTC miner groupbuy starting up in the next day or two once my DC gets more power hooked up.  This mining OP was partially a gamble on if Scrypt ASICs would kill GPU mining, which they more or less did.

The alts' value proportionally to BTC is going up quite fast since a few days, I have hope that this will save us, along with a long-term bitcoin rally which will allow us to sell our used ants overpriced.

Cooldgamer, would it be possible for my part of the reinvestment fund to be sent to me in BTC instead, and not add any gh/s to my shares? Don't worry about it if it's too complicated.

[cooldgamer]

Cooldgamer, would it be possible for my part of the reinvestment fund to be sent to me in BTC instead, and not add any gh/s to my shares? Don't worry about it if it's too complicated.

I don't think that would be possible, since the 20% is used as a reserve in case of hardware failure.  Sorry

[railzand]

Oh I am sorry I posted a really ambiguous post. I'm delighted with this gb. 25% is a great place to be.

[lynn_402]

Oh I am sorry I posted a really ambiguous post. I'm delighted with this gb. 25% is a great place to be.

It's surprising how consistent the payouts have been, given the huge difficulty increase since the start of this project. Hats off to you, Cooldgamer.

[cooldgamer]

Finally figured out what was wrong with the Scrypt rig, the RAM stick was dead.  Going to need to take some out of the reserve to pay for the new stick.  Pulled one out of my main computer for now, so up and running

Over 9000 errors

[cooldgamer]

Quick update:

New stick of ram costed $23 shipped when BTC was at 490, so .047 out of reserve fund.  .02057 left for upgrades at the moment.

Had some delays getting more power setup in the DC, so holding off on upgrades for the moment until that gets sorted out.  We'll be going with the Dragon 1T miner due to the best gh/$ ratio.

[cooldgamer]

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

Due to a chart reading error with Middlecoin, it has come to light that the Scrypt portion of this gb has been getting overpaid.  Going off the historical chart, 0.1444 should have been mined so far by our rig (and 0.3737 by the Ant).  The high payout amount is due to using the Middlecoin balance to calculate payments, not the amount paid out.  This resulted in a 0.1061 overpayment for Scrypt (why payouts have been so constant even with the increasing difficulty).  75% of the difference will be taken out of the final Ant sale price, the other 25% will be left for the inconvenience.  We will be switching over to Clevermining immediately, as they have stats to keep things like this from happening (although Scrypt-N seems to be more profitable, will be taking a vote in the next few days on if we should switch to that).  This problem does not affect any of my other groupbuys, as they are all stable enough that I have been going off the paid out amount (as I can for this now that the GPU rig is fixed).

Please note that I am still fully solvent, I'm not running/scamming/breaching contract/etc, just correcting overpayments.  Dividends will continue to go out as usual.  

http://stratehm.net/#MainPlace:%257B%2522middlecoinDescriptor%2522:%257B%2522addresses%2522:%255B%25221DyUZo2FJb2ePYuJzocKLWUoHvfYz6rWuD%2522%255D,%2522globalCollapsed%2522:false,%2522displaySummary%2522:true,%2522displayBTC%2522:true,%2522displayPower%2522:true%257D%257D Here you can see what payments should have been (minus 90kh/s or so worth).  

Please PM me with any questions/concerns, and I apologize again for the inconvenience

Cooldgamer
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Edit: bad PGP sig fixed
And quick note: overpayment number given is after electricity/20%, amount that should have been mined is before

Double edit: one of my Gridseed gb's appears to be affected too, doing the same thing for them in the way of difference.  Going to get payouts automated ASAP so something like this can't happen again

Triple edit: Request for automation script posted

[railzand]

No worries. I don't see why you should be out of pocket, though, after the ant sells.

[cooldgamer]

No worries. I don't see why you should be out of pocket, though, after the ant sells.

I was expecting a massive backlash/scam accusations, that was an attempt to keep them off.  I always try to make it up to the customers when I screw up somehow, especially when it's something like this.

[railzand]

No worries. I don't see why you should be out of pocket, though, after the ant sells.

I was expecting a massive backlash/scam accusations, that was an attempt to keep them off.  I always try to make it up to the customers when I screw up somehow, especially when it's something like this.

Nah. I didn't spot it, either. We're all responsible.

[cooldgamer]

Ignore what I posted a few seconds ago if you saw it, got thrown off by Albinokidd owning gb shares without Scrypt, numbers were right yesterday

Also, payouts (should) be automated from here on.  It's a double-layer of Cex.io auto payouts, so if it works right payments should be made every 2 days.

[lynn_402]

No worries. I don't see why you should be out of pocket, though, after the ant sells.

I was expecting a massive backlash/scam accusations, that was an attempt to keep them off.  I always try to make it up to the customers when I screw up somehow, especially when it's something like this.

I was wondering what kind of black magic you used to make payments who were so constant

Hope selling the ants will get enough BTC to cover it.

[lynn_402]

Even with the overpaying problem fixed, the dividend is even bigger than usual

[cooldgamer]

Even with the overpaying problem fixed, the dividend is even bigger than usual

That was Cex fucking up, it sent the whole ant payment to you guys for some reason.  Won't send the next payment or 2 to make up for it, apparently the system has some kinks to work out still.  Transitions to new stuff is never smooth, just consider it an advance

[cooldgamer]

Today is the last day of payouts not going to Pon3, after that things will return to normal.  Finally got my custom script so this bullshit can end

Also, Clevermining is essentially no longer profitable (.0002 daily at current rate).  Majority rules vote decides where we mine now, either Scrypt-N or regular.

Edit: typo

[railzand]

I am sorry I haven't a clue But leaserigs, if you can be bothered...

[cooldgamer]

I am sorry I haven't a clue But leaserigs, if you can be bothered...

Scrypt-N on Leaserigs is an option, wouldn't have a problem setting it up

[railzand]

setting up is easy it's the client servicing takes time. also can u mine scrypt n on a gridseed?