Dave, Cryptonomos Hello,
I am interested in buying tens to hundreds of thousands of WTT. At first I was quite excited with your idea but after careful examination I'm not so sure and I have some serious questions about your business model.
1. If space requirement for mining equipment doubles per 1W of power due to Moore's law in semiconductor manufacturing advances. Power consumption of chips drops down significantly with each generation. I have the following question.
For Example:
Currently some Mining GPU setup is taking 60x60x60 cm of space and consumes 1Kw/h of electricity.
In two years if equipment is upgraded to latest models that will require
TWO GPU setups of 60x60x60 cm for the
same 1Kw/h of electricity.
To meet your obligations to WTT token holders, Will Giga-Watt build new Giga-pods on a constant basis and allocate the additional space required for equipment upgrades on demand every couple of years for 50 years ?!?
2. Will Giga-Watt provide some storage to customers for spare parts for mining equipment that will wear out?
3. What about Network bandwidth? How much is provided with each 1W of power? Is there an option to buy more bandwidth?
4. What are the moisute levels in the area of the Giga-Watt pods? What is the effect on equipment from your experience? Is there rust after 1-2 years of operation?
5. You say you can meet customers custom demands. Why are you not providing your co-location customers the ability for remote access to their equipment hosted at your facilities?
Are your customers able to manage their hosted mining hardware themselves and have full control of it?
The equipment is managed by professionals with years of experience in mining.
They understand what is profitable to mine now, which pool is more profitable, etc.They can quickly repair equipment.
We are in the same boat, the more profitable for you, the more profitable for Giga Watt.
So your technicians will decide what is profitable to mine on behalf of your customers and on their equipment? What is this??
You say repeatedly throughout the thread that customers can choose what coins they mine. Then you say exactly the opposite.
6. On the below comment you state there are not set up fees. But later in this thread you stated there is one time setup fee of $20 for aciscs and $40 for GPU rigs. Are there any other Hidden fees?
Otherwise i see no real difference to cloud mining.
First and foremost it is our transparency. Giga Watt's facility is a real-life tangible project which you can tour if you attend our Open House, which we hold twice a month. Giga Watt's customers own the specific equipment: They know their serial numbers and can see them on the shelves in the unit. Another advantage is that Giga Watt's customers purchase their equipment at cost, without any markup,
pay zero setup fees and extremely low effective electricity and maintenance fees: just 2.8c и 0.5c per kW/h respectively.
7. Who are "retail customers"? Customers who buy full turnkey mining or WTT token holders?
From
https://cryptonomos.com/wtt/faq"Does Giga Watt only mine bitcoins?
Giga Watt mines all scalable cryptocurrencies: BTC, LTC, ETH/MONERO/ZCASH/DASH. The decision of what currency to mine is made by the customers who own the mining equipment. But at this stage it is technically impossible to offer all of these options to retail customers. Giga Watt is working on the solution, and hopefully in the future this option will be offered. At this point retail customers can mine only BTC, ETH, and LTC."
8. If you don't provide your customers with remote access to their equipment. How can your customers be sure you are not overclocking their equipment for for 10-15% to your advantage (especially GPU setups) in expense of the lifetime of the equipment?
9. Cryptonomos. Who are you? What is your name? Would be nice to know who are we talking to. Are you a Cryptonomos or Giga-Watt employee? I you rather prefer to remain anonymous. Please ask Dave Carlson to answer these questions from his account here on BitcoinTalk.
10. What exactly is included in $0.5 cents maintenance fee? Which kind of work/procedures?
11. If I decide to power off my miners for a period of time. Will there be any charges? Since I paid for the rent for 50 year ahead can I store my miners there even if they are offline as how much as I need?
Unless you can provide satisfying answers to the above questions, Especially question 1 and 5. I will unfortunately have to pass on your business proposal.
The ability for me to fully control my hosted hardware via remote access is a "To be or not to be" type of issue.
Best Regards.
1. I believe it was stated they do intend to continue building over time; that also means some more WTT gets released.
2. Curious about that, because at a point when my miners become unprofitable; I would love to have them sent to my address so I may use them.
3. I don't think the bandwidth will necessarily be an issue; as they operate within Gigawatts pool currently.
4. The area its located in isn't super moist, but it does get average levels of rainfall; the fan's should also to some extent help with keeping humidity down.
5. They can choose which coins to mine based off of what they currently offer which is BTC, LTC and ETH; I e-mailed them about the event of ETH going PoS would my antminer be able to be used for ZEC, XMR or ETC - And they did say they are working on getting mining set up for those coins, but do not feel ETH will go PoS terribly soon. I also asked if I could direct my miners outside of the giga-watt pool, and this was a current no-no but one day it potentially could occur; however they would most likely be unable to charge the electricity fee from the coin you opt'd to mine; meaning a potential fund sending/temp swap during the day.
6. There is no set up fee's for miners they sell, there is if you send your own miners.
7. I think I kind of answered that within #5.
8. I suppose you wouldn't, although I'm assuming if all the miners died in 6 months; they would lose a lot of customers as well as have their name tarnished forever unless they replaced the miners.
9. Cryptonomos is the escrow provider for giga-watt
10. The maintenance fee is usually just upkeep and not technically an every day thing; however if something goes wrong like a GPU fries the maintenance fee acts kind of like an insurance policy - pay the pennies today; save yourself the hundies tomorrow.
11. I can't guess why you would want to turn off the miners, given the general difficulty increases overtime but (In my mind and in theory though you could store them there unplugged.