I'm puzzled. Why would anyone do this?
...
I guess I'm missing the point.
Just to reduce the variance so that you can get 1BTC/day instead of 50 every 7 weeks. If there was an easy and secure way I guess I'd be a little interested.
Do the arithmetic. 1BTC / day for 7 weeks = 49 BTC. This whole thing is set up for people who would rather have 49 BTC than 50!
I wonder who is pocketing the extra 1BTC.