Author Topic: Are Crowdfunded Rigs a Bad Idea?  (Read 548 times)

0 Members and 1 Guest are viewing this topic.

Offline KimpDodda

  • Trade Count: (0)
  • Puppy
  • *
  • Posts: 1
  • Shiba Inu
    • View Profile
Are Crowdfunded Rigs a Bad Idea?
« on: January 25, 2014, 07:31:24 PM »

I have this idea, but I feel that maybe I'm being too optimistic about it so I need some advice/criticism from you guys. Basically I'm thinking of building some crowdfunded rigs. According to my research/math, I can build (2) 3MH rigs for ~$4525 using R9 280x GPUs.  So the plan is to rally up between 100 - 50 people to give me "microloans" of $45 - $90 each. In return, at a predetermined date they will receive their initial loan back in the form of dogecoin. Plus a equally divided percentage of the monthly coin gross for a set number of months. Of course in a more detailed summary I have planned for things like adjusting for inflation. Also I am aware of how volatile altcoins are at the moment, this is something I will stress to those who are interested. This is the reason I am looking for such small investments, if shit hits the fan who's going to be upset about losing $90 a few months ago, especially if I do my job to explain it's just speculation. According to Coinwars with 6MH/s I can mine ~ 50k coins per day. So I'd give myself around 90 - 120 days from day 1 of first dig to begin repay my debts.

 PLEASE someone tell me the flaws. If I had the loaners ready to give me cash right now, would it be a dumb idea to take the money. Please dont reply with just "thats retareted" or "youre a dumbass" tell me why you think the idea is dumb. Looking for any feedback.

Looking forward,

Offline cownaetion

  • Trade Count: (+2)
  • Doge
  • **
  • Posts: 122
  • Wizard of Milk
    • View Profile
    • Barnyard Studios
Re: Are Crowdfunded Rigs a Bad Idea?
« Reply #1 on: January 25, 2014, 07:50:04 PM »
To be honest, if you could find someone to actually GIVE you the money that would be amazing. The only way I would ever loan someone money is if I knew the person personally or if they had some major credibility (i.e. popular game developer putting up a project on Kickstarter and at this point it would be akin to preordering a product).

If you can get the money, go for it. I just feel sorry for the people that would help source your project considering there is no guarantee and you could run off with their money (i.e. again, like some Kickstarter projects have).
« Last Edit: January 25, 2014, 07:51:08 PM by cownaetion »
Wizard of Milk


Sitemap 1 2 3 4 5 6 7 8 9 10 11 12 13 14