[WTS] 42 TH/s / 6 Months Bitmine.ch Cloud mining contract

[erskPeter]

This auctions is for an already running 42 TH/S cloud mining contract with Bitmine.ch.

The contract duration is 6 Months, and it started on 18 October. 

Price on Bitmine.ch website is 15100 USD for 10 TH/s, the total value of the contract is over 63000 USD, please bid accordingly.

Escrow is welcome with a trusted community member, this auction will end on 13/11 at 21.00 GMT.

[erskPeter]

Maintenance fee is 80 USD / TH / month

[bidoh]

1BTC

[markj113]

1BTC

From 1st post -

rice on Bitmine.ch website is 15100 USD for 10 TH/s, the total value of the contract is over 63000 USD, please bid accordingly.

I think 1BTC is going to cut it 

[bidoh]

 

[allinvain]

1 BTC now and a promise to pay 1 btc when the btc/usd exchange reaches 63,000.

Crazy how overpriced this contract is, but so is all hardware these days anyways.

[erskPeter]

1 BTC now and a promise to pay 1 btc when the btc/usd exchange reaches 63,000.

Crazy how overpriced this contract is, but so is all hardware these days anyways.

Very entertaining

[erskPeter]

More seriously, here is the mining revenue over 6 months, it takes as a reference 10% difficulty increase at each round  :



I will sell this contract for 45 BTC, you can clearly make a good ROI with it

[bidoh]

Thats ok if bitmine dont go bankrupt or fail to pay their electricity bill or massa doesnt buy a new ferrari to take himself to work. Only having one ferrari bought with your customers' money is a bit silly. Im sure he needs a fleet of ferraris. bitmine are scummy as fuck.

[erskPeter]

Thats ok if bitmine dont go bankrupt or fail to pay their electricity bill or massa doesnt buy a new ferrari to take himself to work. Only having one ferrari bought with your customers' money is a bit silly. Im sure he needs a fleet of ferraris. bitmine are scummy as fuck.

Can you please take your unsolicited trolling to someshere else? cheers

[markj113]

he's just butt hurt his 1BTC bid didn't cut it 

[padrino]

More seriously, here is the mining revenue over 6 months, it takes as a reference 10% difficulty increase at each round  :

Sure that is the revenue with no maintenance, why don't you use the calculator to put that in as well to provide the expected return since that has a MASSIVE impact on the return, in short it will kill most of the BTC as your original screenshot already showed...

[padrino]

More seriously, here is the mining revenue over 6 months, it takes as a reference 10% difficulty increase at each round  :

Sure that is the revenue with no maintenance, why don't you use the calculator to put that in as well to provide the expected return since that has a MASSIVE impact on the return, in short it will kill most of the BTC as your original screenshot already showed...

So I took the opportunity to factor in maintenance as you stated, since it is USD against BTC at the time it is due best we can do is use current value... At the 10% you estimate in about 88 days the contract will go negative, what is Bitmine's T&Cs on that, in short are you obligated to pay when the mined coins do not cover maintenance?

[the joint]

More seriously, here is the mining revenue over 6 months, it takes as a reference 10% difficulty increase at each round  :



I will sell this contract for 45 BTC, you can clearly make a good ROI with it

No, you're not looking at 10% each "round," you're looking at 10% each month.

This makes an enormous difference as this would mean ~5% each difficulty adjustment.

[the joint]

More seriously, here is the mining revenue over 6 months, it takes as a reference 10% difficulty increase at each round  :



I will sell this contract for 45 BTC, you can clearly make a good ROI with it

No, you're not looking at 10% each "round," you're looking at 10% each month.

This makes an enormous difference as this would mean ~5% each difficulty adjustment.

You should make this more clear.   I've never once heard a month referred to as a "round" when talking about BTC difficulty.

[ACCTseller]

More seriously, here is the mining revenue over 6 months, it takes as a reference 10% difficulty increase at each round  :



I will sell this contract for 45 BTC, you can clearly make a good ROI with it

No, you're not looking at 10% each "round," you're looking at 10% each month.

This makes an enormous difference as this would mean ~5% each difficulty adjustment.

IMO 10% per two week period is most likely too low of an estimate when calculating your potential ROI. The median difficulty increase has been closer to 20% ever 2016 blocks then 10%. So your chart is under estimating the likely difficulty increases by a factor of at least 4

[ACCTseller]

Also do you have a reserve price? You mention what Bitmine.ch is charging on their website but fail to mention what you are willing to take for it

[erskPeter]

More seriously, here is the mining revenue over 6 months, it takes as a reference 10% difficulty increase at each round  :



I will sell this contract for 45 BTC, you can clearly make a good ROI with it

No, you're not looking at 10% each "round," you're looking at 10% each month.

This makes an enormous difference as this would mean ~5% each difficulty adjustment.

Yes correct, i did not notice it is 10% monthly difficulty increase.

[erskPeter]

More seriously, here is the mining revenue over 6 months, it takes as a reference 10% difficulty increase at each round  :

Sure that is the revenue with no maintenance, why don't you use the calculator to put that in as well to provide the expected return since that has a MASSIVE impact on the return, in short it will kill most of the BTC as your original screenshot already showed...

So I took the opportunity to factor in maintenance as you stated, since it is USD against BTC at the time it is due best we can do is use current value... At the 10% you estimate in about 88 days the contract will go negative, what is Bitmine's T&Cs on that, in short are you obligated to pay when the mined coins do not cover maintenance?

I doubt that contract will ever go negative, you are simply spreading FUD.

[erskPeter]

I will sell this contract for 45 BTC, you can clearly make a good ROI with it

Also do you have a reserve price? You mention what Bitmine.ch is charging on their website but fail to mention what you are willing to take for it