Quote from: steamboat on May 29, 2013, 08:10:50 PM

Quote from: Galli on May 29, 2013, 01:38:06 PM

Thank you for the quick and detailed reply. May I ask why insurance isn't being considered? The impact of even a small break-in, or more likely a fire, would be severely devastating to the project's reputation and may cripple confidence that results in mass exodus of those who have their chips hosted. Additionally, it would almost eliminate the chance of an angry hostee of suing for damages if there was a theft that resulted in the loss of their property hardware.

I think I speak for everyone here when I say I appreciate the dedication and clarity, it is refreshing!

Short version as the lengthy one was accidentally left out of the above post and deleted:

Insurance is being considered, but it not currently scheduled to be implemented. What value would you be willing to declare for the unit?

Security and fire concerns are being addressed. There will be constant security, with additional security measures in place to ensure the cluster is protected at all times. The careful design of the unit, the support system, and electrical system work in tandem to reduce the risk of fire.

I have 10 years previous work experience in the construction industry, from laborer to manager, and understand the code and compliance requirements to ensure the safe operation of hundreds of amps of machinery.

I think a value to recover the assets at a comparable market rate should be sufficient. As time goes on, hashing ability should continue to climb and replacing an avalon equivalent chip would be cheaper than its initial price so perhaps that should be a consideration for a lump sum insurance policy amount.

This is a very random thought so bare with me. What if the pool of hosted miners opted to allocate a portion of their profits to grow the pool's hashing power? For example, if 5% of the net profits went into wallet B that would be used to add avalon, or perhaps newer/faster/more efficient chips, to the pool. The profits from that pool could be redistributed based on the initial investment of chips per user in pool A. It would be a great way to scale up the collective hashing power of the pool and keep the amount of coins mined from falling over time as mining difficultly continues to climb at an increasing rate.

Effectively, the pool would be compounding its returns if they are reinvested. Maybe this is best discussed later on after the pool has been stablized