Feathercoin Farm IPO
-
[quote name=“Nutnut” post=“16334” timestamp=“1371620139”]
[quote author=d2 link=topic=1970.msg16313#msg16313 date=1371606991]
[quote author=Nutnut link=topic=1970.msg16198#msg16198 date=1371572156]
It’s a great idea but it’s usually reserved for a group of close friends and suchlike.Apart from the actual persuading of the public to invest their cash into you and your rigs, the other issue you face is power and cooling. 1 or 2 rigs is fine but 5+ and things get all sort of complicated. I personally have hit the max amount of rigs i can have at my house without moving to 3 phase and a complete HVAC system.
[/quote]NutNut, don’t be cheap… I have an 8’ x 11’ heavily insulated server room with a 2 ton AC unit for it in my garage. You should do the same and upgrade your measly 15 MH/s setup.
[/quote]Pfft. Looked at it but digging up the street to get the cable here was prohibitively expensive. Not mention then digging up the garden to run another feed to the shed. I have a bunch of friends waiting for me to host their rigs for a 20% commission fee but I can’t do it. :'(
I’ve considered renting a warehouse/unit but as it won’t be manned I have concerns for security.
[/quote]I had similar thoughts about renting a small cheap storefront but I agree… costs and security are two big ones, next to insurance. Camera systems are fairly cheap these days though.
-
isnt the point to do things cheap since profit will increase:)
love how nutnut is called cheap with ONLY 15mhash!:P
makes my 10mhash seems like a fart in the wind:P
-
[quote name=“svennand” post=“16627” timestamp=“1371744528”]
isnt the point to do things cheap since profit will increase:)love how nutnut is called cheap with ONLY 15mhash!:P
makes my 10mhash seems like a fart in the wind:P
[/quote]A fart in the wind can still make a hell of an impression! ;D
-
[quote name=“d2” post=“16313” timestamp=“1371606991”]
[quote author=Nutnut link=topic=1970.msg16198#msg16198 date=1371572156]
It’s a great idea but it’s usually reserved for a group of close friends and suchlike.Apart from the actual persuading of the public to invest their cash into you and your rigs, the other issue you face is power and cooling. 1 or 2 rigs is fine but 5+ and things get all sort of complicated. I personally have hit the max amount of rigs i can have at my house without moving to 3 phase and a complete HVAC system.
[/quote]NutNut, don’t be cheap… I have an 8’ x 11’ heavily insulated server room with a 2 ton AC unit for it in my garage. You should do the same and upgrade your measly 15 MH/s setup.
[/quote]20% is laughable. You’ll never survive on that.
Here’s the reality of commercial mining:
1. You’re going to spend a lot of money on new electricity lines. Most commercial businesses will only have 200 amps available, tops. That won’t get you very many rigs. You’ll also need to run the circuits and physical wiring to your rigs, which, depending on contractor, may be a lot of money.
2. You’re going to have to upgrade your electricity if you want to run anything past 30MH of hashing power. Said electric will cost >$10,000 USD for 3-phase.
3. You will have to buy air conditioners. A lot of them. Or develop a very, very effective exhaust system.
20% will ensure that you never earn a dime yourself.
-
[quote name=“Benny” post=“16668” timestamp=“1371765746”]
[quote author=d2 link=topic=1970.msg16313#msg16313 date=1371606991]
[quote author=Nutnut link=topic=1970.msg16198#msg16198 date=1371572156]
It’s a great idea but it’s usually reserved for a group of close friends and suchlike.Apart from the actual persuading of the public to invest their cash into you and your rigs, the other issue you face is power and cooling. 1 or 2 rigs is fine but 5+ and things get all sort of complicated. I personally have hit the max amount of rigs i can have at my house without moving to 3 phase and a complete HVAC system.
[/quote]NutNut, don’t be cheap… I have an 8’ x 11’ heavily insulated server room with a 2 ton AC unit for it in my garage. You should do the same and upgrade your measly 15 MH/s setup.
[/quote]20% is laughable. You’ll never survive on that.
Here’s the reality of commercial mining:
1. You’re going to spend a lot of money on new electricity lines. Most commercial businesses will only have 200 amps available, tops. That won’t get you very many rigs. You’ll also need to run the circuits and physical wiring to your rigs, which, depending on contractor, may be a lot of money.
2. You’re going to have to upgrade your electricity if you want to run anything past 30MH of hashing power. Said electric will cost >$10,000 USD for 3-phase.
3. You will have to buy air conditioners. A lot of them. Or develop a very, very effective exhaust system.
20% will ensure that you never earn a dime yourself.
[/quote]That’s pretty much what i said… ???
The 20% was of the profit i.e. once running costs are covered.
-
All profitability calculation are based on false assumption that the price of FTC will be stable and ore keep rising. But you never know what can happen. Feather coin at one point was at 0.0045 BTC, and another 0.00059 BTC. You might not even break even after setting up the farm. (I have one myself doing 17.5 Mh/s)
-
That’s right, expences other than electricity should not be ignored. I’ve calculated various scenarios, and no way way I can host a large farm in my home. It takes too much time and money to get it done right. My house was built even before World War I, so you can imagine infrastructure quality.
[b]NutNut[/b], what’s the electricity pricing in your area? My local provider is a greedy one. Although the base rate is very affordable at about 3.5 eurocents/kW*h, it triples when you consume over 1 MW*h/month, and they plan to increase rates this year. About half of local electricity is produced by two nuclear power plants, and their production cost is unbelievably low at 0.3 eurocents/kW*h. A few local coal powered stations report something like 1 eurocent/kW*h. How do they manage to screw up the pricing for end users so bad? Those corrupt bastards in the gov’t pay huge subsidies to alternate energy producers. For example, owners of local solar power stations, be they all damned, have managed the gov’t to purchase their “green” electricity at 54 eurocents/kW*h (!).
-
[quote name=“ghostlander” post=“17016” timestamp=“1371931559”]
That’s right, expences other than electricity should not be ignored. I’ve calculated various scenarios, and no way way I can host a large farm in my home. It takes too much time and money to get it done right. My house was built even before World War I, so you can imagine infrastructure quality.[b]NutNut[/b], what’s the electricity pricing in your area? My local provider is a greedy one. Although the base rate is very affordable at about 3.5 eurocents/kW*h, it triples when you consume over 1 MW*h/month, and they plan to increase rates this year. About half of local electricity is produced by two nuclear power plants, and their production cost is unbelievably low at 0.3 eurocents/kW*h. A few local coal powered stations report something like 1 eurocent/kW*h. How do they manage to screw up the pricing for end users so bad? Those corrupt bastards in the gov’t pay huge subsidies to alternate energy producers. For example, owners of local solar power stations, be they all damned, have managed the gov’t to purchase their “green” electricity at 54 eurocents/kW*h (!).
[/quote]This is why you want a farm in the US… I’m getting ready to pay 5-6c per KWH, and could get lower if I used industrial rates.
-
[quote name=“svennand” post=“16627” timestamp=“1371744528”]
isnt the point to do things cheap since profit will increase:)love how nutnut is called cheap with ONLY 15mhash!:P
makes my 10mhash seems like a fart in the wind:P
[/quote]ROFLMAO! 10mhash/15mhash thats like a F5+ tornado compared to mine–it dont get no cheaper and lower 9600gt geforce with case open and a 24" desktop fan keeping it cool, but im having fun and thats what matters to me.
-
[quote name=“ghostlander” post=“17016” timestamp=“1371931559”]
That’s right, expences other than electricity should not be ignored. I’ve calculated various scenarios, and no way way I can host a large farm in my home. It takes too much time and money to get it done right. My house was built even before World War I, so you can imagine infrastructure quality.[b]NutNut[/b], what’s the electricity pricing in your area? My local provider is a greedy one. Although the base rate is very affordable at about 3.5 eurocents/kW*h, it triples when you consume over 1 MW*h/month, and they plan to increase rates this year. About half of local electricity is produced by two nuclear power plants, and their production cost is unbelievably low at 0.3 eurocents/kW*h. A few local coal powered stations report something like 1 eurocent/kW*h. How do they manage to screw up the pricing for end users so bad? Those corrupt bastards in the gov’t pay huge subsidies to alternate energy producers. For example, owners of local solar power stations, be they all damned, have managed the gov’t to purchase their “green” electricity at 54 eurocents/kW*h (!).
[/quote]I’m on business rates so it’s .094 pence kwh.
-
[quote name=“Nutnut” post=“17137” timestamp=“1371980651”]
I’m on business rates so it’s .094 pence kwh.[/quote]0.094 pence or 0.094 quid?
-
Yeah - sorry, 9.4p. :o
-
[quote name=“ksty1098” post=“15831” timestamp=“1371434429”]
I’m currently wondering whether to start a feather coin farm. I see this skyrocketing in the future, and you know the sooner the better. Though I currently don’t have the cash to start a farm by myself so I’m wondering if there is enough community interest to start a feather coin farm. It could start somewhat small about 4-5mhash/s. Though that would grow as funds would be reinvested into the pool creating a higher hash rate. Start up cash I would need would be about 5,000 USD, to get a 4-5 mhash/s farm. Electricity in my area is cheap arounf 7 cents per kwatthour. I think I could start with 500 shares at 250 per share. Any though thoughts?
[/quote] I assume the 500 shares at 250 per share is a typo unless you are figuring on feathercoin as the investment currency, as if you are figuring the 250 as USD then the 500 shares comes to 125,000 total on the 5,000 initial. Please clarify this as well as the figures for power cost vs net gain and don’t forget about estimated maintenance cost as well. Keep in mind this is not like developing a game on kickstarter and understand that you would have to divide the initial up in to small enough shares and you would have own enough of those shares to have controlling say in your farm otherwise the shareholders own the farm and you would have to buy them out in order to have any say in the operation. You would have to divide it up in to say 5000 shares at say 1.00 USD per and you would have to keep a good 51% in order to have the controlling shares. Then you would have to show receipt of investment against the initial start up cost in order to have any grounds for claim of the 51% controlling ownership. You would also have to figure out a reasonable dividend payment as to not cripple the farm if you do not net enough to make the dividend payment. This is based on my limited knowledge however, so please take it with a grain of salt. Your best bet before proceeding further would be draw up a business plan and have an accountant go over it while also consulting a brokerage firm for their advice. As I said before this is based on my LIMITED knowledge and should be taken with a grain of salt.
