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Author Topic: Gauging interest for a bitcoin-funded race car  (Read 961 times)
BeepBeep2
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July 10, 2014, 03:29:23 AM
 #1

This might not be taken seriously but I figured I'd throw the idea out there.
It's always been my dream to get into racing, and I do race competitive simulation racing online with good success (Top 5 ~35% against other top racers) @ iRacing.com, and recently ran extremely competitive times in rental 390cc Go-Karts at GoPro Motorplex in Mooresville, NC.

Since I am a bit of a newcomer to actual physical racing, I'd probably be best off buying a turn key 4cyl race-ready "compact" car. These are typically 1990-2005 MY Chevrolet Cavalier, Dodge Neon and etc. The interiors and glass are stripped out, and a roll bar welded and racing seat are put in.

Unfortunately, I am a student, I have very little family support, and don't have quite the money to purchase one as they run in the $2000-3000 range, and I would also need to buy safety equipment and a trailer, with at least $600 reserve for racing tires and possible repairs.

This car class runs almost every week in the schedule at my local race track and the track consistently draws crowds of 2,500 to 4,000.

If I could secure around 6-8 BTC, I would be able to purchase a race car and hauling trailer as well as helmet, neck restraint and etc and have reserve money for any issues that may arise. We already have a truck that would be capable of towing the car.

I would paint the race-ready car matte black and apply the minimalist orange "bitcoin logo" as a vinyl sticker to the hood and the "logo with text" to each rear quarter panel as seen here:
https://en.bitcoin.it/wiki/Promotional_graphics

Would you be interested in helping to fund my race car and gift me my dream? Is this a good/cool idea? Let me know what you think.
If someone rich in bitcoins would happen to generously throw me 8 BTC, I'd be on track with the car fully "bitcoin sponsored" in only a couple weeks provided I can find a car.
I intend to get the decals for the car printed on vinyl at carstickers.com.

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July 10, 2014, 05:13:29 AM
 #2

Simulated racing, go kart racing, and actual racing are two entirely different things.

What class would you be racing, and style?
Drag, circle track, rally, baja?
Do you have the technical expertise, time, and room to gut and rebuild a car?
Do you have a shop willing to put time and, likely, parts, into your new race car?

After getting the vehicle, how do you plan on promoting and racing?

Your estimate of 2800 usd for a race ready car is ridiculously low. Multiply by 2.5.

What's your local track? Do they advertise or is it just 'come as you are'?

Keep in mind you're representing bitcoin when you decide to race with that logo.

Probably don't want to come in anything less than 5th in local circle track.
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July 10, 2014, 09:15:02 AM
Last edit: July 10, 2014, 09:42:36 AM by BeepBeep2
 #3

1. Simulated racing, go kart racing, and actual racing are two entirely different things.

2. What class would you be racing, and style?
3. Drag, circle track, rally, baja?
4. Do you have the technical expertise, time, and room to gut and rebuild a car?
5. Do you have a shop willing to put time and, likely, parts, into your new race car?

6. After getting the vehicle, how do you plan on promoting and racing?

7. Your estimate of 2800 usd for a race ready car is ridiculously low. Multiply by 2.5.

8. What's your local track? Do they advertise or is it just 'come as you are'?

9. Keep in mind you're representing bitcoin when you decide to race with that logo.

10. Probably don't want to come in anything less than 5th in local circle track.
Great questions. I'll try to answer them the best I can. Apologies if it's too long, I'd rather be too thorough than lack something important.

1. Yes, these are all different.
iRacing.com obviously lacks many real-world elements of racing including lateral g-forces, peripheral vision, heat, damage costs, and possibly pain, etc.
Go-kart racing is also much different than short track stock car racing, it is more similar to road racing and has ridiculously different handling characteristics, yes.

2. I would prefer to stay in Compact or Street Stock classes.

The "Compact" class consists of USA domestic compact cars, usually 1995-2005 Chevy Cavalier or early 90's Beretta. The local track allows 4cyl only for this class, both single and dual cam, stock suspension and wheel spacers. Every 110-120hp single cam Cavalier and Beretta are usually blown away by 2-4 top cars with 140/150 HP Ecotec / "Quad 4" engines. These cars, turn key, will range around here anywhere between $1500 and $3200. A Neon or two are floating around the area too which should be competitive if the gearing is right. I know a mid 90's Neon which ran last year was banging off the rev limiter half way down the straightaways. The top guys with DOHC are also running wheel spacers on the front and rear to widen stance and reduce roll which might be a little tricky to figure out what helps.

The Street Stock class consist primarily of mid 80's Chevy Monte Carlo and Oldsmobile Cutlass. They are required to run a Chevy 305 small block or GM "602" Crate Engine purchased and sealed by the track. All of the 602 engines costs $3200 and must be purchased and sealed by the track. This is an extremely competitive class with a couple of cars being a bit faster than the rest, though those cars have done some questionable things with the front skirt clearance to enhance front downforce as they seal up on the track.

Both classes usually have fields of 12-18+ cars each week. I think finishing 5-8th would be doable in a decent car, but winning with no experience might be a stretch. I do very well in iRacing though, in the past mostly running virtual Street Stocks, Super Late Models, Legend Cars and NASCAR Truck Nationwide and Cup Series, all with open setups which I developed myself, both coil-bind and conventional on the stock cars. I've raced mostly top splits (top groups) in races and once I have my setup dialed in I'm competitive for the win there or only a couple tenths off at most from the absolute fastest guys. I think I could figure it out at my local short track, too, though I know it is much different.

3. Circle track, 3/10th mile asphalt, 8 degree banking. What you would typically think of in America as "Saturday Night Short Track Racing"...

4. I'm not a car guru or welder by any means, but I'm stupid enough to say "I can figure it out". I understand the basic workings of suspension and chassis setups. I have a friend who drove a compact two years ago who could help me out, and I know that he spent many long nights in seasons past helping to work with his "dad" (non-related mentor) on the second fastest Street Stock at the racetrack. So in that way, I sort of "know a guy who knows a guy"...by no means do I really have relationships with other teams or those who would be willing to help me out, "yet".

I'm a bit of a night owl and I don't play video games or watch TV much like most my age do, so I'd be able to put at least 4-6 hours into the car on a given week if I needed to.

5. There is a shop down the street that might help me some. Obviously I would have to ask him what he thought of it, I haven't done that yet. His rates are pretty cheap for simple things like alignments and tire installation / rotation. It's hard to say what he would charge me for actually repairing something.

6. That's a good question. At first, I would probably just show up at the track. The track does not advertise outside of local newspapers and possibly their local TV station. For me to promote my "race team", I'd probably need to gain some credibility at the track. Consistent finishes are important. The current Compact class points leader is BY FAR lacking the fastest car. I believe a couple of the really faster guys skip a couple races during the season.

7. $6000-8000 would buy a nice Street Stock or maybe a 10th place Asphalt Modified (15-18 usually show up). The track runs "Economy Modifieds" with the GM 602 crate motor, somewhat similar to the SK Modified rules but with slower with tighter / different rules.

8. Midvale Speedway. As I said, they don't advertise heavily, but they are one of the few short tracks in Eastern Ohio that draws a good crowd. I'm about an hour out from the speedway. The one in my own town closed down.

9. Yes, I wouldn't want to go out there and finish last with the bitcoin logo all over my car. I know how simple subliminal cues such as my car finishing poorly could somehow turn people away from the idea of bitcoin and cryptocurrency or make them feel uninterested. But I want to win, or at least do well. Most of the time, at least a couple top 5 drivers get an interview after each feature (~20 lap) event, and that is my goal.

10. I can't quite promise 5th up but I can promise effort, consistency, and that I'll try to take care of my equipment. Since I am here somewhat begging, I obviously couldn't afford to completely total the race car. Of course, if I'm sailing down into turn 1 and break a right front ball joint or wheel bearing, there's probably not much I can do in that scenario.



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July 10, 2014, 11:44:42 PM
 #4

This might not be taken seriously but I figured I'd throw the idea out there.
It's always been my dream to get into racing, and I do race competitive simulation racing online with good success (Top 5 ~35% against other top racers) @ iRacing.com, and recently ran extremely competitive times in rental 390cc Go-Karts at GoPro Motorplex in Mooresville, NC.

Since I am a bit of a newcomer to actual physical racing, I'd probably be best off buying a turn key 4cyl race-ready "compact" car. These are typically 1990-2005 MY Chevrolet Cavalier, Dodge Neon and etc. The interiors and glass are stripped out, and a roll bar welded and racing seat are put in.

Unfortunately, I am a student, I have very little family support, and don't have quite the money to purchase one as they run in the $2000-3000 range, and I would also need to buy safety equipment and a trailer, with at least $600 reserve for racing tires and possible repairs.

This car class runs almost every week in the schedule at my local race track and the track consistently draws crowds of 2,500 to 4,000.

If I could secure around 6-8 BTC, I would be able to purchase a race car and hauling trailer as well as helmet, neck restraint and etc and have reserve money for any issues that may arise. We already have a truck that would be capable of towing the car.

I would paint the race-ready car matte black and apply the minimalist orange "bitcoin logo" as a vinyl sticker to the hood and the "logo with text" to each rear quarter panel as seen here:
https://en.bitcoin.it/wiki/Promotional_graphics

Would you be interested in helping to fund my race car and gift me my dream? Is this a good/cool idea? Let me know what you think.
If someone rich in bitcoins would happen to generously throw me 8 BTC, I'd be on track with the car fully "bitcoin sponsored" in only a couple weeks provided I can find a car.
I intend to get the decals for the car printed on vinyl at carstickers.com.

Stopped reading right after that. Lmao
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July 11, 2014, 04:29:38 AM
 #5

Imagine an add-on to automobiles that mines bit coins but doesn't require any extra energy as it would be using any wasted energy the car produces (if that is even possible).

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Mister S
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July 11, 2014, 04:47:05 AM
 #6

Imagine an add-on to automobiles that mines bit coins but doesn't require any extra energy as it would be using any wasted energy the car produces (if that is even possible).

Turbocoin!

It'd be mined through the wastegate and blow-off valves on Subaru WRX's and Mitsubishi 3000GTs!
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July 11, 2014, 05:26:09 AM
 #7

What about electricity generated from exhaust heat? Smiley Someone needs to design a peltier exhaust pipe.

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