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Author Topic: New Mining Service - Payments in Bitcoin BTC ONLY  (Read 2464 times)
walidzohair
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May 16, 2011, 10:30:29 AM
 #1

This is a new mining service .. and so far it is the only profitable mining service with Bitcoin payments that is cheaper than buying bitcoin.

We offer mining units Colocation service. You are buying the Unit and its place in our mining center (cooled, secure, multiple internet connection with automatic failover).


A unit is two operational Radeon HD 6990 cards Located in our Mining center.

                               Colocation cost                               Monthly running cost

1 Unit                  650 BTC 3000$ equivalent in BTC                                100 BTC 400$ equivalent in BTC





The unit is yours and can be shipped to any location at any time and shipment fees are in Bitcoin (BTC) ONLY.
We accept BTC ONLY.
Immediate setup for the first 10 units.
Our (data) Mining center is IBM tier 4 certified and ISO certified.

To reserve your unit please contact walidzohair@gmail.com.
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Sukrim
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May 16, 2011, 12:30:16 PM
 #2

Either offer a fixed USD/EUR/whatever you use price that gets converted to BTC or lower your prices significantly...

It's unrealistic with current difficulty rises to even mine 1000 BTC over the lifetime of these card, let alone >100BTC (+ payoff) per month!

Also pictures would be nice! Smiley

https://bitfinex.com <-- leveraged trading of BTCUSD, LTCUSD and LTCBTC (long and short) - 10% discount on fees for the first 30 days with this refcode: x5K9YtL3Zb
Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
walidzohair
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May 16, 2011, 01:33:00 PM
 #3

Either offer a fixed USD/EUR/whatever you use price that gets converted to BTC or lower your prices significantly...

It's unrealistic with current difficulty rises to even mine 1000 BTC over the lifetime of these card, let alone >100BTC (+ payoff) per month!

Also pictures would be nice! Smiley

Prices adjusted!  Wink. And it is a well known Data Center (two physical locations) some where close to the petroleum fountains. - I will try my best about photos' policies.

Please indicate if you prefer Running costs as % of the mined output too (in BTC). The current price is about 25% of the current output.

serial
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May 16, 2011, 01:54:22 PM
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Prices adjusted!  Wink. And it is a well known Data Center (two physical locations) some where close to the petroleum fountains. - I will try my best about photos' policies.

Please indicate if you prefer Running costs as % of the mined output too (in BTC). The current price is about 25% of the current output.

Lets see, mtgox last price $8.11USD/btc, so that means we can buy a 2x6990 miner for just $3000 us dollars instead of the $1700 it actually cost to build one. And then we can pay $550 a month to co-locate it when any datacenter in the country will do a 4U colocation for $120/mo. This looks legit.

I get what you are trying to do and its a pretty good idea, but trying to make flat fees based on bitcoin production without taking into account inflation or difficulty increases actually sounds like your trying to intentionally defraud someone. Percentage based on your edit, much better idea!
walidzohair
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May 16, 2011, 04:28:56 PM
 #5

Prices adjusted!  Wink. And it is a well known Data Center (two physical locations) some where close to the petroleum fountains. - I will try my best about photos' policies.

Please indicate if you prefer Running costs as % of the mined output too (in BTC). The current price is about 25% of the current output.

Lets see, mtgox last price $8.11USD/btc, so that means we can buy a 2x6990 miner for just $3000 us dollars instead of the $1700 it actually cost to build one. And then we can pay $550 a month to co-locate it when any datacenter in the country will do a 4U colocation for $120/mo. This looks legit.

I get what you are trying to do and its a pretty good idea, but trying to make flat fees based on bitcoin production without taking into account inflation or difficulty increases actually sounds like your trying to intentionally defraud someone. Percentage based on your edit, much better idea!

You buy the hardware and the Space.

It is called colocation. Tier 4 IBM certified and ISO certified data Mining center. (I hope someone really knows what I am talking about). it is not an underground basement room in some unknown place.

I would adjust the running costs to 25% of the output BTC if more agrees.
chaud
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May 16, 2011, 05:07:33 PM
 #6

How would you keep so many of those cards cool so close together and is there any chance of a less expensive option, such as renting rather than buying outright?
Sukrim
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May 16, 2011, 06:04:28 PM
 #7

As you claim to have certificates, I bet it would be cool to see them... and also the website of your company/datacenter owner.

Also, I again want to emphasize that a fixed USD prize that is just dynamically converted to BTC is (at least for me) the only option to invest here on a longer term.
It would also be more safe for you, as no matter what the BTC <--> USD price is, you can be sure to be able to cover your own costs or you can choose to gamble and not sell the BTC right away.

With current difficulty increases, 60 BTC/month might be very hard to reach in just a few weeks - but if BTC <--> USD prices still go up, the ~400 USD you charge per month might still be reachable, converted to BTC.

If you would switch to such a model, I even might jump in (even though the rig costs are still very high imho - can we also assemble rigs on our own according to your specs and ship them in?) or create an asset on GLBSE to allow for "micro mining".

https://bitfinex.com <-- leveraged trading of BTCUSD, LTCUSD and LTCBTC (long and short) - 10% discount on fees for the first 30 days with this refcode: x5K9YtL3Zb
Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
walidzohair
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May 17, 2011, 06:31:54 AM
 #8

Thank you for your reply and feedback.

The whole idea is to commit the whole service for BTC ONLY.

I know it is hard due to the market dynamics and it will be this way for some time. Going up as new miners jump in and difficulty increase is the shown trend so far.

I am trying the most innovative thoughts to keep it within BTC ONLY.

Here are some other ideas:

 Pay in BTC using formula to relate the amount paid to current difficulty.

 Pay fixed amount of GOLD grams' equivalent in BTC.


Any suggestions would be appreciated too. (for the formula or any whole different ideas as long as they are in BTC).

***************************************************************************************************************************

Sukrim = Please allow me some privacy for my clients. It is IBM tier 4 AND ISO certified AND in middle east. how hard is that to find ?  Wink maybe you should do some research if you are so interested in seeing the data center or jump in and publish the photos I will be sending to you along with your experience.  Grin
BitLex
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May 17, 2011, 07:04:23 AM
 #9

let me get that straight:

first, you want a fixed BTC amount per month,
then you think about 25% of the BTC generated,
now you want to base it on difficulty.  Huh

and although you want to commit the whole service for BTC ONLY,
you now offer to accept GOLD.  Huh

all that doesn't really make much sense to me.

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May 17, 2011, 07:13:20 AM
 #10

why are you asking people to pay you 25% of the generated coins? I mean, why not keeping everything for yourself? What's your benefit?

Blog posts about Bitcoin - 1KdRBbhjo72CqKTrFsQed6s9NMrvwvrUkq
cschmitz
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May 17, 2011, 09:52:28 AM
 #11

To me your suggestion is a typical "Snake Oil" suggestion that seems very common here and in the marketplace, why? It has the same issues that so many others have:

- the benefit for you is very clear
- the benefit for your investor is not clear
- there is a significant risk that any "investor" or "customer" will never see his original investment return, let alone any roi, due to lack of accountability
- lack of trust and faith in competence is implicit when there are huge claims of opportunities and abilites when even the initial suggestion indicates that a) fundamentals of btc generation are not understood and b) zero of the claimed capabilites have been realized so far
- if all "BTC SnakeOil Schemes" would be as great as they claim, one would expect that the Salesman would have realized the massive potential and line his pockets with BTC, instead, despite a super great business scheme and claimed capabilites, zero progress was realized


proud 5.x gh/s miner. tips welcome at 1A132BPnYMrgYdDaRyLpRrLQU4aG1WLRtd
walidzohair
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May 17, 2011, 10:19:37 AM
 #12

To me your suggestion is a typical "Snake Oil" suggestion that seems very common here and in the marketplace, why? It has the same issues that so many others have:

- the benefit for you is very clear
- the benefit for your investor is not clear
- there is a significant risk that any "investor" or "customer" will never see his original investment return, let alone any roi, due to lack of accountability
- lack of trust and faith in competence is implicit when there are huge claims of opportunities and abilites when even the initial suggestion indicates that a) fundamentals of btc generation are not understood and b) zero of the claimed capabilites have been realized so far
- if all "BTC SnakeOil Schemes" would be as great as they claim, one would expect that the Salesman would have realized the massive potential and line his pockets with BTC, instead, despite a super great business scheme and claimed capabilites, zero progress was realized



We are working on introducing bitcoin area in the data center owner company to avoid any "snake oil" or any kind of oil scheme too.

I am happy with the community interaction and looking forward to enable the first BTC paid coloaction service on a real data center.
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