Annoucing @cfminer - Crowd Funded Crypto Mining Rig for Steem Community

Howdy!

I hope you're heaving great holidays. After the yesterday's #introducemyself post it's time to get things going.

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The idea behind the crowd funded mining rig:

I really like the idea of receiving daily payouts from my investments in the STEEM ecosystem. So far the only way to invest STEEM / SBD was to delegate your STEEM POWER to voting bots or services like @smartsteem or @utopian. So I figured out it's time to take advantage of the current SBD price pump and use it to fund crypto mining rig.

Account @cfminer was created to organize the crowd funding for the crypto mining rig and if it succeeds, it will be used to make the payouts to the investors.

What are the conditions for the crowd funding:

Date: from 24.12.2017 to 31.12.2017 (a week starting from today)
Currency accepted: Only SBD
Min investment: 0.1 SBD
Max investment: 300 SBD
The crowd funding will succeed if at least 70 SBD are raised.
The crown funding will end earlier if 300 SBD are raised
Expected daily return: 0.3% but if the SBD price returns to USD peg, the rig should generate 3% return rate in SBD daily. Yet the crypto world is really volatile so you need to take it into account.

Currently we have 50 SBD so need 20 more to meet the minimal goal. The more the SBD, the better the rig I will be able to build (with focus on the GPU).

How exactly the rig will generate income

The rig will be used to mine most profitable crypto currencies at given moment. Services like NiceHash, BetterHash will be used or just manually setting the desired coin. Next the mined coins will be exchanged to SBD or STEEM and transrefed to @cfminer account, which will then send SBD / STEEM to investors according to their stake.

Steps after successful funding

1. Exchange the SBDs to fiat (and pay taxes...)
2. Buy the hardware for the following rig:

• motherboard: Gigabyte X370 Gaming Pro (good power section, lots of pcie lanes)
• CPU: Ryzen 1700 (16 threads for Monero mining)
• GPU: GF 1080 (great for VertCoin and ZCash mining)
• RAM: DDR4 8 gigs (need to check how RAM speed affects Monero mining tho)
• Power Supply: Corsair RM850X 850W (6 x 8 Pins, good for additional GPUs)

3. Build it and start mining.
4. Automate the dividend payouts as much a possible.

Expectations about profitability

The rig would cost around 1500 USD (150 SBD).
It would generate 7,5 USD (0,75 SBD) daily.
Power Consumption 1,5 USD (0.15 SBD) daily (0.4 kWh * 24 * 0.15 USD)
Maintaining Fee: 1 USD (so I'm willing to convert the SBD to Fiat + pay taxes, build and maintaining the rig for 1 USD daily :)
Profit: 5 USD (0.5 SBD)

This gives us:
Daily return rate: 0.3% (every invested SBD would give 0.003 SBD daily - and 0.03 SBD daily if the SBD returns to USD peg).
Days needed to return the investment: 333 (and much less if SBD returns to USD peg).

There are two variables here.
First the mining of crypto profitability will decrease in a long term because of the new hashing power incoming.
Second, more important, the SBD price may eventually drop to 1 USD peg which means 5 SBD daily profit from 150 SBD investment.

Refund policy

If the funding won't meet minimal threshold, all SBDs will be returned. But if it succeeds refunding won't be possible as it's impossible to sell small part of the PC hardware. There is a plan though to allow users to sell / buy shares.

So, that's the plan :) If you're intrested, please send at least 0.1 SBD to @cfminer - all investments will be automatically confirmed. If all goes well, the rig should be operational by 07.01.2018.

Please feel free to ask question in the comments, I will be happy to answer them.