Zeropond Cloud Mining

[Voluntary]

If you're willing to take someone else's word for it, why all the fuss and jumping through hoops to prove legitimacy?

[tim_olson]

It's best for a 3rd party like @zawy to do that.

[Austin-Williams]

I agree with (3) and was thinking about that over the last few days.

Good stuff here.

[hloo]

@tim_olson, in the event that you sell a certain amount of hashrate but are unable to scale to that hashrate in time for the launch, do you commit to refunding the affected customers their complete purchase price immediately (within a day or two of the launch)?

[tim_olson]

We are capping sales to something we are comfortable installing before Genesis Block. If we are ahead of schedule, we might reopen sales, but no promises.

[tim_olson]

I deeply regret to announce that we have decided to block USA residents from being customers of Zeropond. Although our mission is to make Zcash mining available to everyone, after considering the council of our talented and experienced attorneys at Perkins Coie, we feel forced to exclude residents of the US from this offering. Accredited US investors may still apply for contracts by emailing info@zeropond.com.

It’s truly a shame that everywhere in the world is free to be involved in the cryptocurrency revolution, except this country which purports to be egalitarian and capitalist. In fact the opposite is true here.

We will work hard with our attorneys to craft a business model which is compatible with US Law, so we can offer this product in the future to crypto enthusiasts here in our homeland.

[Voluntary]

Any plans to start a new business somewhere that the local mafia keep their stink to themselves?

[jonas]

tim: 5pm pacific is in the middle of the night in Europa and Asia. Not a good time to start the sale.

[5chdn]

Can you please tell me, are you selling GPU hashing power or CPU hashing power? The homepage announces CPU-equivalents which might be confusing.

Also, what about offering options for hashrate resellers outside the US. They could sell hashes to the US residents

[Voluntary]

They're selling hashes. So long as they deliver, why would it matter how they're generated?

[adrian]

Disclaimer: i'm not a US person or resident

How will this exclusion be enforced? Administrative proof of residency, like some exchanges? IP block? (but what if a US resident connects to the pond through tor?)

[zawy]

At this difficulty, the miner would have mined around 173 blocks (mined 175), which is consistent with the time the miner actually ran. If we use @zawy's formula, you would see that the miner did a bit better compared to his formula. However, we are skeptical about the number "7" in his formulas. The error bars on this number would in our opinion be at least 3, so it could be either 4 or it could be 11. A better measurement is nessasary from his side to support his formula.

Again, I do not understand why you're implying my method your H/s lower. My D/7 gives you a higher H/s. Your method in this test says your H/s is 9.5/10 x 173 /175 = 0.94 H/s. By my method it would be 9.5/7 x 173 / 175 = 1.3 H/s. These numbers are the same as you got on testnet. The final N to get my 2.7 was 72, which is only 11.8% standard error. My final conversion from 1 core to 4 core was ultimately 2.74x.

[Shawn]

10 posts were merged into an existing topic: Most accurate formula for comparing Hardware

[jeewaka]

With the $30k bounty from Zcash for a GPU and CPU miner, will the price affect this? Now I am hesitant to go with your solution

[zerotolerance]

Your offer looks interesting. You considered the business model? What
you applied global hashpower in the calculations?

For example, I purchase at you 5 h/s if global hashpower I have more than 2000 h/s won't leave to pay back the investments correctly?

[zawy]

If the network H/s is large where you do not get many ZEC, then the $ per ZEC will be high.

[abromide]

yep, hash rate has almost always been an indicator of price. Beautiful part of cryptocurrency is the equilibrium

[whospumpin]

After Monero lesson I expect this coin to be aggressively overpriced (>> mining costs) from very start. This highly depends on clean start without any controversies. Otherwise a fork will take over similarly like what happened with bytecoin->monero.

[Austin-Williams]

I would rather buy one hash from a GPU than one hash from a CPU because the GPU has comes in at ~1.1 sec while the CPU hash takes about ~30 sec.

I know a few people here think that it shouldn't matter because block discovery time "follows a poisson distribution" (it actually doesn't, the minimum time required for a CPU to finish one hash is the monkey wrench there).

GPUs have an advantage because they get to guess ~30 times before a CPU gets to guess once.

If we are paying for the same number of guesses at a block, I would pay a premium for being able to make my guesses before you get to make yours.

[Voluntary]

I guess I could have expressed that more accurately. But given that the contracts expire after a set time period rather than whenever all the hashes are completed, I figured hashes/second was implied...