CLOUD SCRYPT mining
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Sorry for digging this thread up but I am currently working on a site to sell shares in my new mining rig that is on the way, will only be about 30mh/s to start but when those contracts are sold I will use the money to buy more rigs and expand. I have bought the domain and hosting for the website already and have begun building the site… mining shall commence in about 2 weeks time as long as setting up the rig goes smoothly. The site will be [url=http://www.scryptcloud.com]http://www.scriptcloud.com[/url] and [url=http://www.scryptcloud.eu]http://www.scryptcloud.eu[/url]. I will mine with a pool using my own worker and then divide up the shares accordingly on a weekly basis. I will be selling 6 month and 12 month contracts.
What kind of price do you guys think I should charge? I’m thinking maybe 0.5btc per 1mh/s for 6 months… would you consider that reasonable??
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@FTCClover - price seems to be far too low.
With 1MHS you can expect around 15-20 FTC/day currently. 15*30*6 = 2700FTC. Current value on BTC-E = 1,21 BTC. And you need to include your costs too - you build the rig (for 30MH - I assume with around 20K investment - there you have to calculate what interest rate you could get), you have to pay the power (maybe) and within 1 year there will be some maintenance and very likely replacing parts. On the other hand you need to consider a difficulty increase - mainly depending on better hardware availability and FTC adoption. You can use current charts on difficulty development to make yourself a kind of prediction. -
And one important thing that might be overlooked: Don’t forget the time that it takes you to manage it (Doing the maintenance, software updates, running the pool and software, etc).
The disadvantage of your concept (for me) is that a customer would be locked in for 6-12 months. You cannot sell whenever you feel like it. You can do that on CEX.IO which results in a more or less constant stream of customers and also demand.
Regards,
MrSheep -
Also a lot of people get paid on a monthly basis and cant afford to pay one of fee’s for 6 months worth of mining. If I think allowing monthly payments in cash/paypal w/e is always an advantage and will increase your userbase dramatically.
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[quote name=“MrSheep” post=“48158” timestamp=“1388302909”]
And one important thing that might be overlooked: Don’t forget the time that it takes you to manage it (Doing the maintenance, software updates, running the pool and software, etc).The disadvantage of your concept (for me) is that a customer would be locked in for 6-12 months. You cannot sell whenever you feel like it. You can do that on CEX.IO which results in a more or less constant stream of customers and also demand.
Regards,
MrSheep
[/quote]Thanks sradics thats really helpful info right there! And I’m gonna add the option to sell your shares back but like this - you buy 1mh/s for 6 months for 1btc and use for 1 month then decide to sell, you will get only 0.85btc back roughly to cover the month used or something like that…
And as for paypal. I hate paypal and can’t/won’t use them anymore… I was a legit ebay seller and they limited my account for no reason and messed up all my sales so I will never use paypal again… but I will offer payment to okpay, in litecoins and feathercoins.
How would this be for pricing:
1.1 BTC per 1mh/s for 6 months
2 BTC per 1mh/s for 12 monthsI am hoping to double the available mh/s within 6 months also, between myself and my brother I think we can handle the maintenance side of things if we get some sort of rota going!
I will post a new thread in the mining section with updates of my little project :)
Thanks for the advice!
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[quote name=“mrflibblehat” post=“48160” timestamp=“1388305841”]
Also a lot of people get paid on a monthly basis and cant afford to pay one of fee’s for 6 months worth of mining. If I think allowing monthly payments in cash/paypal w/e is always an advantage and will increase your userbase dramatically.
[/quote]Thats an excellent idea! Minus the paypal part… maybe I could offer bank transfer as an option for payment aswell with okpay and bitpay, but I think one month contracts would involve alot more work on top of everything else… maybe after we’re up and running for a month or 2 and buy more rigs I will do one month contracts just to keep it simple starting off… never know what kind of problems I will have to deal with in the beginning ::)
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[quote name=“FTClover” post=“48188” timestamp=“1388320654”]
[quote author=mrflibblehat link=topic=4634.msg48160#msg48160 date=1388305841]
Also a lot of people get paid on a monthly basis and cant afford to pay one of fee’s for 6 months worth of mining. If I think allowing monthly payments in cash/paypal w/e is always an advantage and will increase your userbase dramatically.
[/quote]Thats an excellent idea! Minus the paypal part… maybe I could offer bank transfer as an option for payment aswell with okpay and bitpay, but I think one month contracts would involve alot more work on top of everything else… maybe after we’re up and running for a month or 2 and buy more rigs I will do one month contracts just to keep it simple starting off… never know what kind of problems I will have to deal with in the beginning ::)
[/quote]You could still do 6 - 12 month contracts just billed on a monthly basis, get user to sign contract if they stop paying send the debt collectors round ;) hehe
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[quote name=“mrflibblehat” post=“48245” timestamp=“1388332821”]
[quote author=FTClover link=topic=4634.msg48188#msg48188 date=1388320654]
[quote author=mrflibblehat link=topic=4634.msg48160#msg48160 date=1388305841]
Also a lot of people get paid on a monthly basis and cant afford to pay one of fee’s for 6 months worth of mining. If I think allowing monthly payments in cash/paypal w/e is always an advantage and will increase your userbase dramatically.
[/quote]Thats an excellent idea! Minus the paypal part… maybe I could offer bank transfer as an option for payment aswell with okpay and bitpay, but I think one month contracts would involve alot more work on top of everything else… maybe after we’re up and running for a month or 2 and buy more rigs I will do one month contracts just to keep it simple starting off… never know what kind of problems I will have to deal with in the beginning ::)
[/quote]You could still do 6 - 12 month contracts just billed on a monthly basis, get user to sign contract if they stop paying send the debt collectors round ;) hehe
[/quote]That sounds like a solid idea but alot more hassle than for what it’s worth… I would just like to sell the contracts for one time payment and that be that, then I can focus on maintenance and upgrades, I would like to read into other scrypt based coins that I might use a rig to mine if it looks good…
Right now I am just flat out building the website and organising everything! On top of Christmas just passed and my birthday (new years eve) party to organise. I really want to get the site launched on the 1st of January to coincide with ftc week!
It’s going to be a busy few weeks from here on in! :o
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Happy Birthday, When you do decide to take monthly/quarterly payments you can count me in ;)
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I started a new thread dedicated to scryptcloud.com over here: [url=http://forum.feathercoin.com/index.php/topic,6481.0.html]http://forum.feathercoin.com/index.php/topic,6481.0.html[/url]
I will post all updates there! And maybe we can get a bit more discussion going too! :)