SBD Crowd Funded Mining Rig -> Daily Payouts For Investors?

tipu (67) in steemit • 7 years ago

Hi guys, I've came up with an idea of crowd funded mining rig that would operate entirely inside STEEM ecosystem.

The plan is quite simple - raise at least 100 SBD from investors. That should be enough for AMD Ryzen 1700 + GF 1080. This setup should generate about $7 USD daily which equals to about 0.7 SBD daily. This income would be then automatically distributed in SBD to the investors (in daily payouts), proportional to their stake. But if the price of SBD returns to 1 USD peg, the rig would make 7 SBD daily - so this investment is a way to take advantage of the current SBD price pump.

On my side I would invest my own small funds + the whole know how how to build and maintain the mining rig. I could probably fund the rig with the post rewards but all SBD I'm putting into fixing the SBD liquidity problem for @tipU.

Let me know guys what do you think about the idea and would you be interested in investing in such project?

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7 years ago by tipu (67)

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bycz (58) · 7 years ago

I'm in! How it will be controlled? Do not forget the electric costs.. 😉

tipu (67) · 7 years ago

Payouts will be distributed automatically, also I will probably use services like Nicehash/BetterHash to simplify the maintenance and payouts. And yeah, I still need to do some math :)

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bycz (58) · 7 years ago

I noted that you already setup @cfminer. The ideia is to fund that account?

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tipu (67) · 7 years ago

yes, just testing it, I forgot to relog ;)

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wix (55) · 7 years ago

I really like this idea. I think I'll participate. How much does each investor need to give?

tipu (67) · 7 years ago

Theres no min or max limits but the profit would be distributed proportional to the investment.

wix (55) · 7 years ago

Ok. I'll just start sending you sbd everyday until you have 100. What should I put as the memo?

sames (65) · 7 years ago (edited)

Tipu is going to make a separate account just for this idea

sames (65) · 7 years ago

It is released now start investing https://steemit.com/steem/@tipu/sbd-crowd-funded-mining-rig-some-basic-math

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tomosan (56) · 7 years ago

Im in, mate, you have my sword! :)

sames (65) · 7 years ago

Also what will you be using to mine? A auto mining system that picks the most profitable coins and switch automatically for profit but pays you in btc? Or you joining a pool/ joining minergate ? Or renting your rig to nicehash like systems.

tipu (67) · 7 years ago

This is a good questions:) Most probably NiceHash/BetterHash or setting manually miners for ZCash / Vertcoin / Monero.

adasq (63) · 7 years ago

I'm interested in :)

sames (65) · 7 years ago (edited)

Well if you set manually make sure to merge mine :)
And also how much sbd did you need to recover.

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sames (65) · 7 years ago

I like this idea :)
Tell me when it is open i can invest 1-2 sbd

lukestokes (75) · 7 years ago

Interesting idea. I like it!

davedickeyyall (73) · 7 years ago

That's a great idea... you don't need whales.. it's only 100 SBD.. catch me at the right time and I'm a huckleberry for 2-5 ... just need more people.. gimme a week to let rewards catch up..

sames (65) · 7 years ago

You have a week before the first round closes It is released now so start start investing asap https://steemit.com/steem/@tipu/sbd-crowd-funded-mining-rig-some-basic-math

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turksays (49) · 7 years ago

Wow this plan is looking good, best of luck with it. Thumbs up!

magnata (66) · 7 years ago

So something like a good idea, but we need to think it over.

serkagan (65) · 7 years ago

You are right at today's price is a very attractive plan and we must consider this opportunity! Thanks @tipu for the suggestion.

newera120 (29) · 7 years ago (edited)

Good idea but will whales invest when most of them don't care?

I'm a new user but I'm up for this plan, how can I invest?

tipu (67) · 7 years ago (edited)

We don't need whales, 100 SBD is not so much for larger group of people.

I will probably make new steem account for the project :)

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newera120 (29) · 7 years ago

That is better, also when u create a new account, do link the account in this post, cuz I'm really down with your idea, as it allows minnows to participate and get something in return! Posting, blogging won't do much for beginners.

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tipu (67) · 7 years ago

Yep, I'll resteem the post with @tipU :)

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leongkhan (64) · 7 years ago

I'm willing to kick in 10 SBD for this project. I recommend full transparency with weekly reports and a small % of returns being reinvested into upgrading equipment/covering equipment depreciation. Something like 10 - 20%.

tipu (67) · 7 years ago

Yep, transparency is a must and I really like the idea of a fund for new equipment.

By the way, after the mining rig is funded and set, if someone new wants to join - should he be allowed to buy shares? His deposit would be then treated as profit and distributed for the stake holders, but this would also lower everyone else stake.

sames (65) · 7 years ago (edited)

Naw that kinda hurts beginning investors. You can start a new fund for a second rig like a second round of investing. And is the contracts are how long? And a good idea will be if we can sell our shares? It also be fun if we could get token proving we own shares and send shares aka selling, but to much work unless their a free toekn creator .

leongkhan (64) · 7 years ago

I agree that investors should be able to trade shares rather then selling new shares from the existing fund. Even better would be a voting system for making decisions. Like shareholder meetings in traditional securities.

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sames (65) · 7 years ago (edited)

Steem media token for the win right?
I explained it better an alternative here=
https://steemit.com/steemit/@tipu/sbd-crowd-funded-mining-rig-daily-payouts-for-investors#@sames/re-sames-re-tipu-sbd-crowd-funded-mining-rig-daily-payouts-for-investors-20171223t184032129z

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sames (65) · 7 years ago

Agree :) And with a weekly report he will get upvote so a win-win

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sames (65) · 7 years ago

It is released now start investing https://steemit.com/steem/@tipu/sbd-crowd-funded-mining-rig-some-basic-math

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prhinodv (27) · 7 years ago

I'm interested. I would like to know more before I invest but I am a new miner so I would like to get in on as many mining projects as possible. When are you planning on taking investments/ starting this project?

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sames (65) · 7 years ago

He is going to do it soon. He need to make the shares system work first but here the account https://steemit.com/@cfminer
just follow @tipu and a post shall appear about this deal :)

gerr (32) · 7 years ago

What gonna happen when we decide to stop the investment?

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tipu (67) · 7 years ago

Probably no refunds as I can not sell 5% of the GPU to send refund :)

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sames (65) · 7 years ago

however if we had a token/ something to track ownership of shares we can sell the shares of the gpu

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prhinodv (27) · 7 years ago

i can probably make an eth based token for this pretty easily

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sames (65) · 7 years ago

Post you want to help here: https://steemit.com/steem/@tipu/sbd-crowd-funded-mining-rig-some-basic-math

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moniristi (58) · 7 years ago

Its a very informational post.i like this type of post. Thanks for share.

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cikxaijen (59) · 7 years ago

Im in

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sames (65) · 7 years ago (edited)

Hi tipu! I disagree with the idea of new people coming buying more shares. If you want raise the price for the shares i am in.
I say this is the price of 1 share= 0.1
So 1000 shares up for sale. 100 sbd
I feel investors will feel cheated if more people can get more shares if sbd prices lower unless you change the rate of shares.
But i have a better idea.
You can start a new fund for a second rig like a second round of investing.
First round= 1st round of profit share
second round= 2nd round of profit share
and so on.
It be more fair and you can set the prices per share diff dependent on snd price.
And maybe you can tokenize it when SMT are released let you track shares on the blockchain and investors can sell their shares

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sames (65) · 7 years ago

New shares will lessen the value of investment.

tipu (67) · 7 years ago

Aye, agree - no new buyers, unless you want to sell your shares? I guess some simple exchange could be made but I'm not such a pro dev and don't have so much time to make it fast and easy to use :)

As for SMT - very interesting idea but currently I have no idea how I could issue SMTs, track their number for shareholders and finally allow shareholders to trade them :) time will tell, maybe I will be able to dig into this but it requires time - I wish I had more :)

sames (65) · 7 years ago

SMT are not even fully released yet :)
And for simple sell you can be the exchange but you charge a fee for an exchange bc it not easy.
For smt token there will be an easy token issuer, token tracker, and it will allow smt asset to be traded in an internal exige saw it on some post.
https://smt.steem.io/

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diebitch (62) · 7 years ago

Where do I send the money

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tipu (67) · 7 years ago

Check out @cfminer :)

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missioncontrol (44) · 7 years ago

Is it still available?

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tipu (67) · 7 years ago

Nope

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