elective-stereophonic
elective-stereophonic
[ANN] Hashrate.org - HRNXTPOOL- Over 1.09 million NXT Dividend so far. singapore
Please login or register.

Login with username, password and session length
Advanced search  

News:

Latest Stable Nxt Client: Nxt 1.12.1 Upgrade before block 2870000 is mandatory!

Pages: [1] 2 3 ... 39

Author Topic: [ANN] Hashrate.org - HRNXTPOOL- Over 1.09 million NXT Dividend so far.  (Read 113809 times)

pf

  • Hero Member
  • *****
  • Karma: +161/-197
  • Offline Offline
  • Posts: 1340
    • View Profile

The first Community owned Mining Pool.

Hashrate.org is pleased to announce that it has issued shares on the AE, under the ticker name HRNXTPool (ASSET ID:  17166680677145186899).  These shares will be put up for sale for the public starting (at the latest) Aug 1st.  This will make it the first community owned Multipool, where anyone can buy some shares and profitwithout ever having to own a piece of mining hardware or ever having to operate a miner.


These shares will entitle the owner of the share to dividends made up of two things:
   a) The pool will be implementing a 2% fee as of Aug 1st.  Each share will entitle the shareholder to 0.001% of half of that fee.  The other 1% will be used to pay for pool operational costs.  As of Aug 1st all miners mining on Hashrate.org will be charged the 2% fee.

   b) an equal share of the profits of 'community owned pool' (COP) hardware.

Share Distribution
   The proceeds of the Community-Owned Pool (COP) IPO are being invested in mining hardware that will be pointed at the pool.  A private invester, jl777 has arranged to purchase 60% of the shares of the IPO initially. The pool operator (pf) has also purchasing 5% of the shares of the IPO. 2% of the shares are being given to the NXT Marketing Committee.  1% of the shares are also being given to a community member, RLH, on behalf of the pool operator.
   There are 100,000 total shares, of which 60000 belong to jl777, 5000 to pf, 1000 to RLH, and 2000 to the NXT Marketing Committee. The remaining 32000 shares will be issued on the AE starting Aug 1st on a weekly basis (one quarter per week).


Private Mining Pool
   The proceeds from the IPO are being used to set up the COP.  This will to help boost the pool's hashrate and help increase the amount of BTC that is mined from other altcoins and injected into the NXT ecosystem on a daily basis.  This pool is housed in a private colo cage in an established data centre and will consist exclusively of ASIC mining hardware that is the most power efficient (on a W/GH metric) on the market. This will help ensure that the hardware can run for the longest possible time at a profit.  No hardware will be ordered at any time that is a pre-order.  The pool is already in the process of being built and should begin to come online well ahead of Aug 1st.  The plan is also to move the pool directly into the same colo cage, giving it effectively LAN access speeds to the stratum server.
   The profits from the COP will initally be split 60% dividend /40% reinvestment (after the operational expenses for the colo facility have been deducted) between paying out a daily dividend and a wallet account reserved for buying additional mining hardware.  This will allow the pool to add an additional nearly 2 TH of miners every week, compounding.  The COP will be used to mine on the Hashrate pool, and if the COP hashrate exceeds all of the available SHA coins they will be partially used to mine BTC via P2Pool and merge mine all of the available BTC-related SHA coins (such as NMC, DVC, IXC, etc). The right to modify this payout ratio from 60/40 is reserved solely for James (jl777), as the majority shareholder.   He may choose at any time to increase the payout percentage, but it will not go below 50%.
   Any unsold IPO shares are considered not payable in terms of the dividend.  Any proceeds that the pool generates fprior to Aug 1st will be split equally into 68000 parts.

Expected Pool Size
   The pool should be in excess of 30TH through the money generated from the IPO.  Re-investing 40% of it's own profits will allow the pool to grow at an extremely quick rate.  The pool is housed in a tier 1 data centre facility more than capable of handling any amount of growth.

   
Profitability

   Mathematical guarantees are difficult and inaccurate at best. This is not to be considered investment advice. This is not to be considered a traditional investment, but fractional ownership of the assets in question.  Most calculations that we have put together equate into the pool being capable of mining just over 7 BTC/week once the remaining 32000 shares have been sold on the AE. 40% reinvestment in additional hardware has 5 42U racks being filled entirely prior to the end of Q3, 2014.  The hardware will be used to pay out for as long as SHA cryptocurrencies can be mined profitably using latest-generation ASIC hardware, and as hardware becomes no longer profitable it will be retired from use.




A big thank you goes out to jl777/James, for helping provide me with the means, motive and opportunity  (not to mention good advice and inspiration) to make this happen for our community. THANK YOU JAMES!!
« Last Edit: November 23, 2014, 07:08:50 pm by pf »
Logged
---
NXT Multipool! Mine Scrypt, SHA, Keccak or X11 for NXT! http://hashrate.org
http://hashrate.org/getting_started for port info!

pf

  • Hero Member
  • *****
  • Karma: +161/-197
  • Offline Offline
  • Posts: 1340
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #1 on: July 14, 2014, 04:58:17 am »

Reserved 2
Logged
---
NXT Multipool! Mine Scrypt, SHA, Keccak or X11 for NXT! http://hashrate.org
http://hashrate.org/getting_started for port info!

pf

  • Hero Member
  • *****
  • Karma: +161/-197
  • Offline Offline
  • Posts: 1340
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #2 on: July 14, 2014, 04:58:32 am »

One more reservation.
Logged
---
NXT Multipool! Mine Scrypt, SHA, Keccak or X11 for NXT! http://hashrate.org
http://hashrate.org/getting_started for port info!

Fatih87SK

  • Hero Member
  • *****
  • Karma: +127/-36
  • Offline Offline
  • Posts: 2206
    • View Profile
« Last Edit: July 14, 2014, 08:14:53 am by Fatih87SK »
Logged

pf

  • Hero Member
  • *****
  • Karma: +161/-197
  • Offline Offline
  • Posts: 1340
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #4 on: July 14, 2014, 08:28:20 am »

BTW - I need addresses for both RLH and the NXT Marketing Commitee.  Once I get those, I will be sending RLH 1000 shares and the MC 2000 shares.  A huge thank you to RLH, for being the one who initially send me the link to the old NXT forums on bitcointalk when he saw me poting about setting up a NXT multipool one day.
Logged
---
NXT Multipool! Mine Scrypt, SHA, Keccak or X11 for NXT! http://hashrate.org
http://hashrate.org/getting_started for port info!

jl777

  • Hero Member
  • *****
  • Karma: +718/-123
  • Offline Offline
  • Posts: 6170
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #5 on: July 14, 2014, 08:46:51 am »

I am very excited to be able to be part of a multipool with meaningful TH

The most interesting part about this asset is the relatively fast expected return of capital. Of course with mining difficulty always going up, it is a constant battle to maintain profitability, but that is why the multipool aspect is so important. As long as there continue to be new gen1 coins in the early stages of mining, we can be mining at decent profitabilities.

The most important aspect of the plan is the compounding of hashrate by using a meaningful percentage of proceeds to acquire new hardware. As each generation of ASIC (or other new fangled hardware) comes out, by having the funds ready to purchase the latest hardware, we hope to maintain one of the better returns, so while the original hardware being purchased now might (will) go obsolete over time, as long as we have the newest hardware with the most efficient hashrate, the future is bright.

How long this bright future lasts depends on the market and that is not possible to predict, so we will just need to make sure it makes sense to continue reinvesting. This might mean a buildup of capital reserves while we wait for the nextgen hardware to become available at some point.

I have done some rough calculations and 60% payout, 40% reinvestment is the current sweet spot that returns capital the soonest while maximizing the active hashrate at the time of returning the initial capital. So, no guarantees on time for capital return, but in the mining business the timeframe cannot be 1 year. And I do expect to get the capital back and then some much sooner than that.

Of course, we need to see the first actual numbers coming in before we can solidify any projections. I have sent in the first part of the capital promised (11.5 BTC of 34 BTC) and as soon as things can get ramped up, the rest will follow.

Also, I was thinking that a lot of times there could be no point for converting the mined coin to BTC to NXT, especially if there is no market or it is a thin market with high spreads. Maybe there will be an option to "directly" send out the mined coins in the form of MGW assets.

First things first, gotta get the hardware purchased and in service!

James
Logged
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

salsacz

  • Hero Member
  • *****
  • Karma: +239/-67
  • Offline Offline
  • Posts: 1762
  • NXT-R67P-6BZ2-XWAK-8RHZR
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #6 on: July 14, 2014, 09:00:27 am »

Logged
Holidays are (almost) over, check more news at: Nxt Academy

dolux

  • Full Member
  • ***
  • Karma: +30/-11
  • Offline Offline
  • Posts: 191
    • View Profile
    • The MasterBakers Music
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #7 on: July 14, 2014, 09:28:30 am »

"sold on the AE" dumb question maybe but what and where is AE.
Logged

Darkhorse

  • Hero Member
  • *****
  • Karma: +61/-8
  • Offline Offline
  • Posts: 1016
  • Keep It Simple
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #8 on: July 14, 2014, 09:31:20 am »

"sold on the AE" dumb question maybe but what and where is AE.

AE stands for asset exchange. Built-in inside nxt client. Or you can also use www.secureae.com
Logged
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬  ▄▀▀▀▀▀▀▀▀▄  ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●  nimirum  ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
▬▬▬ ◖ENDING CENSHORSIP ONLINE◗  ◖ ICO OPEN NOW◗ ▬▬▬

dolux

  • Full Member
  • ***
  • Karma: +30/-11
  • Offline Offline
  • Posts: 191
    • View Profile
    • The MasterBakers Music
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #9 on: July 14, 2014, 09:33:50 am »

"sold on the AE" dumb question maybe but what and where is AE.

AE stands for asset exchange. Built-in inside nxt client. Or you can also use www.secureae.com

Thanks.
Logged

jl777

  • Hero Member
  • *****
  • Karma: +718/-123
  • Offline Offline
  • Posts: 6170
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #10 on: July 14, 2014, 09:35:26 am »

The asset# is 17166680677145186899
but it wont be on sale for a couple of weeks. we want to make sure to get all the kinks out of the hardware first



Logged
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

wert

  • Full Member
  • ***
  • Karma: +15/-10
  • Offline Offline
  • Posts: 170
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #11 on: July 14, 2014, 09:35:54 am »

price?
Logged
NXT-MX4G-33RN-MBVK-BPK9D
Spare some change? ^^

cc001

  • Hero Member
  • *****
  • Karma: +68/-4
  • Offline Offline
  • Posts: 829
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #12 on: July 14, 2014, 09:36:26 am »

"sold on the AE" dumb question maybe but what and where is AE.

AE stands for asset exchange. Built-in inside nxt client. Or you can also use www.secureae.com

Thanks.

All available assets with Profit tracking, trade histories, shareholders, open order books, and much more can be found on NxtReporting.com
Logged
cc001 Personal - NXT-8RXS-2SSK-RNF2-HSNL8
NxtReporting.com - The Nxt Asset Exchange Portfolio Manager with Profitability Tracking - Donations are greatly appreciated on NXT-5W4G-GAR6-JHJP-H8ZTW

jl777

  • Hero Member
  • *****
  • Karma: +718/-123
  • Offline Offline
  • Posts: 6170
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #13 on: July 14, 2014, 09:41:39 am »

Logged
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

semibaron

  • Sr. Member
  • ****
  • Karma: +16/-7
  • Offline Offline
  • Posts: 333
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #14 on: July 14, 2014, 09:53:18 am »

SO only SHA coins are supported by the private pool?
Logged

mnporter2001

  • Full Member
  • ***
  • Karma: +29/-28
  • Offline Offline
  • Posts: 237
    • View Profile
    • BTC Faucet
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #15 on: July 14, 2014, 09:56:26 am »

price?
10 NXT

@10 NXT a share I'm in, and I suspect these will sell fast, is there a way to reserve shares, I would hate to miss out on this, especially as it will be my first AE investment

Cheers
Mark

CryptKeeper

  • Hero Member
  • *****
  • Karma: +78/-5
  • Offline Offline
  • Posts: 1235
    • View Profile
Logged
Follow me on twitter for the latest news on bitcoin and altcoins!
Vanity Accounts Sale :-)

jl777

  • Hero Member
  • *****
  • Karma: +718/-123
  • Offline Offline
  • Posts: 6170
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #17 on: July 14, 2014, 10:01:37 am »

SO only SHA coins are supported by the private pool?
Unless we can identify scrypt altcoins that arent already in the "dead coin walking" stage. Know of any?

With expensive hardware purchases, it is most important to be able to have the longest life of profitable operation. With SHA256, worst case we can always mine BTC, so it seems prudent to stick with SHA256

James
Logged
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

jl777

  • Hero Member
  • *****
  • Karma: +718/-123
  • Offline Offline
  • Posts: 6170
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #18 on: July 14, 2014, 10:04:58 am »

price?
10 NXT

@10 NXT a share I'm in, and I suspect these will sell fast, is there a way to reserve shares, I would hate to miss out on this, especially as it will be my first AE investment

Cheers
Mark
If the demand is strong, maybe the remaining assets can be all made available in early August at random times in smallish lots.
This decision is up to pf. Once all the initial assets are sold, then I plan to issue a NXTventure dividend for this asset

James
Logged
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

cobaltskky

  • Hero Member
  • *****
  • Karma: +226/-138
  • Offline Offline
  • Posts: 2344
    • View Profile
Re: [ANN] Hashrate.org - NXT Mining Pool
« Reply #19 on: July 14, 2014, 10:05:51 am »

I'm in! Thank you to both of you for making this is a possibility! I guess I should start mining over there to help pay myself back. Lol I'd love a reservation too if that becomes a possibility. ;)
Logged
Pages: [1] 2 3 ... 39
 

elective-stereophonic
elective-stereophonic
assembly
assembly