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Author Topic: FracMine Creates Mining Industry Price Change  (Read 612 times)
fracmine
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September 24, 2014, 07:09:20 PM
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On September 11, 2014, CoinTelegraph wrote an article about our company offering one Gh/s for $1.03 with a $0.07/month maintenance cost.  This pricing model was based on if a regular person purchased a miner and operated it himself or herself.

http://cointelegraph.com/news/112500/fracmine-selling-1-ghs-at-103-via-colored-coins-crowdsale

At the time, most cloud mining companies issued one year contracts and included all costs in one lump sum amount.  Since FracMine's pricing model hit the news, other cloud mining companies are now scrambling to offer artificially low-cost Gh/s, but then making up the difference by increasing the back-end, ongoing hosting charges.  This makes mining entirely unsustainable for mining contracts that last longer than one year, like FracMine's FRAC shares.  We made this chart to show what's now become the pricing models in the cloud mining industry to compete with FracMine:


              Initial Price       Hosting /       Hosting       Total Price /    Total Price /
                        per Gh/s               Month               Year                Year               18 Months
                                        
Cloudhashing   $0.59       $0.12       $1.44       $2.03       $2.75
                                        
Petamine       $0.30       $0.15       $1.80       $2.10       $3.00
                                        
Cex.io       $0.81       $0.18       $2.16       $2.97       $4.05
                                        
FracMine       $1.03       $0.07       $0.84       $1.87       $2.29

Of course this article highlights our pricing.  However, we hope to educate consumers and advise them to look past artificially low up-front Gh/s pricing.  In the long run, its more important to pay close attention to the most important costs:  maintenance, electric, and hosting.  In the long run, these costs are much more important than the up-front pricing because they affect long-term profitability.  It also important to choose a company that you feel does not constantly manipulate the numbers to try and hide the ball. 

At the end of the day, mining profitably is challenging in this environment.  However, there are only two ways to get BTC:  mine them or buy them.  Mining is important for the community because its keeps BTC from becoming centralized; thereby, preventing the wealthy from accumulating all of the BTC.  Mining also secures the network and future stability of Bitcoin.  We hope this helps in your decision making process, and that you trust companies with transparent and reasonable pricing models.  You can learn more about out pricing at https://www.fracmine.com/pricing

Jason Melancon, CEO and President
FracMine, LLC
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