@JT08 Yes, our customers will need to set up an account with a mining pool eventually, but not for a few days.
We are currently aware of 4 different pools, and have successfully tested one of them. Once we finish testing them all, we will email all of our customers the list of known-functional pools and ask them to set up accounts with them. We will also have a form on our website for customers to set their pool account information.
In the interest of decentralization and not causing an unbalanced distribution of hashrate, we will not announce which pools we have and have not tested until we’re done. Expect an announcement of pools around Wednesday. It should only take about 5 minutes to set up your pool accounts.
The next sale will be for 200 H/s, and will begin at 1 pm PDT (< 13 minutes from this edit).
It seems we’ve gotten most of the bugs worked out on our order form, so we will likely be increasing the amount of hashrate we put up for sale each time.
A dutch auction would work well here. They are easy to implement (because a sale never requires more than one bid).
Dutch auctions guarantee that the best possible price is obtained, and work well in fevered markets like this one.
It might be worth your time to give it a shot, at least once.
Take your next, say, 50 H/s and start with an absurdly high price – far beyond what anyone would be willing to pay. Then gradually lower the price over time until someone takes the offer.
Your current method of price discovery has you leaving a lot of money on the table.
We will not release our GPU software to the public unless the public raises somewhere around $150k to pay for it. We deem the value of our software to be around $600k, and will open source it only if we are paid about 1/4 of our estimate of its value.
It does not seem likely that the public will be able to raise this amount of money, largely because most people think our price is excessively high. Consequently, I haven’t pushed for an open-source fundraising.
These contracts seem very expensive. You are getting 38 Sol/s on 1 R9 290 but selling a 1 year 38 Sol/s contract for 5.624 BTC or about $3600. For just 1 GPU that seems like a lot for just a one year rental.
You mostly aren’t paying for the GPU. You’re paying for the access to the algorithm.
In any case, we are simply setting our prices based on supply and demand. This seems to be the price at which our hashrate sells well, but not instantaneously. Our early offerings were selling out within 4 seconds, which we took as a sign that our prices were too low. Now our offerings last for a couple of hours before selling out. We think that’s better.
Didn’t someone make a CPU miner though that is around 20 Sol/s? That means someone could mine on 2 computers and have about the same hashing power if they paid you $3600 and only had it for a year.
Maybe the CPU miner is closed source as well I’m not sure where I read that
Will it be open source? If it is, these contracts are incredibly overpriced. $3600 for the same hashing power if you had 2 computers CPU mining
EDIT: I was under the impression that a spare computer lying around mining would only get around 5 Sol/s or so. If you have a spare computer getting 20 Sol/s it seems to make cloud mining unnecessary at these prices
Not yet. We have a driver issue with the RX cards. We’ve been able to reduce the impact of the new driver to about a 15% reduction in performance, but we’re still only getting 32 H/s on the RX 470 (with modded BIOS). On the R9 290, we get 42 H/s with a mild overclock and mild undervolting.
They have the best mining software there is atm as they claim at 42sol/s on 290. almost doubled compared to genoil’s latest post of 22sol/s on 390x. I would buy also if I dont have my rig from eth mining.