Cloud mining contracts
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I’m in no way saying I am “right”, but my opinion at least…
I think there will always be service providers and consumers in any economy - even in an ideal world. Until my landlord, electricity supplier and food shop accept crypto I’m stuck converting profits into pounds sterling. I am however against profiteering off of opportunities and I’m in this to earn a ‘fair wage’ doing something I enjoy.
With profit one can invest: in new technologies, in people, education and in providing employment to others - it drives research and consequently growth (which in turn betters mankind I would hope)
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[quote name=“Calem” post=“56235” timestamp=“1391166840”]
It’s loud and clear that ultimately, all your interested in, is converting your “profits” into fiat.
I’m not been skeptical because of the recent scam. I’m just strait out against cloud mining. I could make a whole thread about how it is self defeating. If you want to do this, then so be it. If others think they will get richer by using this service, then fine.
I just think you all need to focus your energy in a place that will add to the betterment of mankind.
Not feeding the fire that has dragged society down to the level of corporate monopolisation that it is today.[me=Calem]steps off of his soap box.[/me]
[/quote]Here I disagree with you as I think it is the exact opposite. Lets see:
The person who is leasing his hardware - This person will charge more than what they can do on themselves (to be worth it), so the leasers are looking on the fast profit/FIAT.The person who is renting - This person will only loose (not win) on the short term. THe point of renting is [b]believing[/b] in cryptocurrency (FTC in this case), and expecting that in the future that coin will be worth a lot more. Just imagine if you could have rented some hashpower on BTC a year ago :)
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I agree with Calem
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[quote name=“Thytos” post=“56305” timestamp=“1391190757”]
THe point of renting is [b]believing[/b] in cryptocurrency (FTC in this case), and expecting that in the future that coin will be worth a lot more.
[/quote]If one truly believes in a particular crypto, they will take a greater risk with the possibility of greater reward…
By renting, one is hedging on the possibility that there really could be a loss because they are not investing in the hardware themselves. One is not expecting to be in it for the long haul if one is not expecting to be mining years down the track.
A business can and will only operate where there is more profit to be gained. Why is that things are more expensive at a convenience store… It is due to the convenience. Much like how banks have been able to thrive. You submit responsibility and control for convenience at a price and the business makes a profit at the expense of it’s customers.
This is the grand social experiment of the 21st century. If you are unsure that you will one day be able to buy brick and mortar goods in the future, then rent. You can bail when things turn sour.
If you really truly believe in the fundamental ethics of “printing” your own money, buy the printer. Don’t rent it and let someone else walk away with your money.
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I have been through some of the responses. I understand the concerns you all have. Keeping that in mind I have suspended this project temporarily. Once the trust among the community is regained and we are past the bad taste in our mouth from the recent scam, I will approach you all with this offer again. I have taken all your replies into consideration. I will be working on amending the prices and the contracts when time is on my side. I am currently occupied in a few projects and they are taking up most of my time. I would still like some more feedback from you all.
For instance
- What would you want from a cloud mining service?
- How would you like the service to establish trust with you?
- What extra features or services do you need from this service?
- In terms of pricing, How would you like this service to be priced at?
- Any other opinions or suggestions?
