www.lunamine.com - 0.0025 BTC/GHs mining contracts | On-demand withdrawals

[david123]

Did I get it right that you deduct ~ 9.6 $ per month per 100GHs for electricity and
that you stop the contract if the revenues fall below that figure? So the "lifetime validity"
comes down to a couple of months, given reasonable diff increase assumptions, right?

Yes, of course we do. It is impossible to legitimately provide 5 year contracts with no fees like our competitors do. If a company does that, they to steal something - either electricity or customers investments. At best case it is stealing electricity but even that can't last forever: once they get caught, the operation is no longer feasible and they are likely to disappear with people's money.

Whenever we advertise lifetime validity, we note that we run the miners as long as mined coins > electricity. If you suspect we have missed to mention that, please let me know and we will fix that.

Well, I was just asking, not complaining

So you consider this one big competitor (whose name I don't have to mention) of yours as illegitimate. I'm not sure if I agree on that, but ok let's assume that..
Then still, to me, the catchy details (lifetime validity + 0.0025 BTC/GHs) of your offer seem to be aimed at undercutting this competitor. And you are only able to offer
these numbers by charging electricity fees, which are stated in the FAQ section and in a slightly obfuscated way (per GHs per day).

Might be just me, but this doesn't make a good impression..

[david123]

Yeah, I'm not sure if they are legit, probably they are not.. But all the "proofs" I've heard of have flaws, too. For example, if you assume
increasing diff as observed in the past, then 100 GHs will make just a couple of satoshis in years 2-5. Nobody forces them to mine
with today's gear for 5 full years. They could just allocate a certain percentage of their revenues for these late payouts.
Anyway, still I don't see how they can provide that service in a profitable way, but this can simply mean that I am not creative enough

For lunamine: I believe that you are providing the best prices you can and I wish you success. I just think it would be more honest
to state the electricity fees and the implications for the lifetime of the contract at a more prominent place and in a readable way.
The "lifetime validity" is simply misleading in my opinion, especially if you do not plan (i. e. guarantee) to adjust the electricity fees
to efficiency improvements over time.

Best, David

[lunamine]

Thank you for your opinion, appreciate that. I'll edit the texts so it's less misleading and there's a lower chance of misunderstanding.  

Oh and in fact, we will pass forward efficiency improvements to our existing customers. I think it was already mentioned, that we are planning to decrease maintenance costs soon.

Best regards,
lunamine

[lunamine]

Update:

SSL (https) enabled - https://www.lunamine.com
HTTPS is also forced when you enter the regular page.

We are also looking to implement 2FA. What kind of 2FA do you prefer?

[btcnoodle]

google authenticator please

[ronskii]

Withdrawal received.. Thank you!

Google FTW. 2FA is really important. Implement 2FA and I'll double my hashrate.

[BRE]

Google FTW. 2FA
yea you need this , after you implemented that i will place my money here

thanks and good luck 

[lunamine]

Any other opinions? I guess we will stick with Google then.

Is HTTPS working fine for everyone?

[CryptoNames]

Have a few questions about your service and would like to feature it on www.MiningContracts.com
Please PM us at your convenience.

[lunamine]

CryptoNames - thank you for your interest

A lot of good news coming in soon! Stay tuned

[ronskii]

Withdrawals still strong.. Maybe you should publish all txids for more transparency? BCS does that

[dekodoge]

http://www.lunamine.com/ and also http:/lunamine.com needs to redirect to HTTPS otherwise login credentials are sent in the plain.

also

https://www.ssllabs.com/ssltest/analyze.html?d=lunamine.com

Gives you a F rating, you need to alter the Server config to not use insecure SSL ciphers.

Your welcome.

[lunamine]

http://www.lunamine.com/ and also http:/lunamine.com needs to redirect to HTTPS otherwise login credentials are sent in the plain.

also

https://www.ssllabs.com/ssltest/analyze.html?d=lunamine.com

Gives you a F rating, you need to alter the Server config to not use insecure SSL ciphers.

Your welcome.

There was forced SSL initially but we got two reports of website not working, so we made SSL optional while we sort out the problem.

Thank you, I will check that link, sounds promising!

[lunamine]

Good news for the weekend:

More accessible contracts! This weekend (Jul 11 - Jul 13) we have lowered the minimum hashrate. 

Minimum hashrate: 50 GH/s
Price per contract: $79 / 0.125 BTC

Contracts are valid until they cover electricity costs ($0.003 per GH/s per day). BTC price is tied to USD, so it can fluctuate.

[lunamine]

We now offer upfront payments for signature: https://bitcointalk.org/index.php?topic=686826.0 (limited offer, 5 slots only and full member+)

[ronskii]

How is business going? I bought 600 GHs more.. Please confirm

[lunamine]

Hello,

We accepted your payment one hour after it was made. Thank you for your business.

Best regards,
lunamine

[jjc326]

I was posting on the different thread about this - can someone figure out exactly what the current breakeven rate is?  I mean, if I buy a standard 100 gh/s contract, will I at least break even if the price of BTC stays the same as now? and how long will it take?  I found a calculator that shows how much I can expect to get in revenue but how do your fees factor into that?  Thanks.

Edit:  I do see it says lifetime validity but me, as a newb, did not understand what that meant until I came looking at this thread.

[infested999]

I was posting on the different thread about this - can someone figure out exactly what the current breakeven rate is?  I mean, if I buy a standard 100 gh/s contract, will I at least break even if the price of BTC stays the same as now? and how long will it take?  I found a calculator that shows how much I can expect to get in revenue but how do your fees factor into that?  Thanks.

Edit:  I do see it says lifetime validity but me, as a newb, did not understand what that meant until I came looking at this thread.

Break-even is if the difficulty increase every 2016 block (difficulty change) is less than 17.25%

[ronskii]

I was posting on the different thread about this - can someone figure out exactly what the current breakeven rate is?  I mean, if I buy a standard 100 gh/s contract, will I at least break even if the price of BTC stays the same as now? and how long will it take?  I found a calculator that shows how much I can expect to get in revenue but how do your fees factor into that?  Thanks.

Edit:  I do see it says lifetime validity but me, as a newb, did not understand what that meant until I came looking at this thread.

It's not really lifetime, its until they are not profitable.. cant expect for contracts to run forever.. for five years also can't.

We would love to see lower prices but unlikely to happen if their competition is at 0.003 BTC per GHs and not going lower