Introducing fixed-return mining
Buy hashrate at a discount to FPPS hashprice.
Rigly is now the first hashrate marketplace where you can mine bitcoin at a profit.
Plus: We're at bitcoin++ in Austin this week!
Background
Before launching this product, we offered two ways to buy hashrate.
- Instant Mining where hashrate is priced at a premium
- Auctions where best bid establishes the purchase price
You can't earn a profit at instant mining, and you might earn a profit with auctions; depending on your bid price and if future hashprice is over your bid.
Fixed return mining skips the game so you can earn a profit.
Incentives and time preference
Bitcoiners know how to HODL while mining farms, which have hefty expenses, tend to be strapped for cash.
- Buyers have low time preference
- Mining farms have high time preference
Farms are willing to sell at the FPPS discount when they are paid upfront, and so we trade time preferences by selling the farms hashrate at a discount.
- Buyers earn more bitcoin, over time
- Mining farms get paid upfront
With fixed return mining, both sides get what they want.
How fixed return mining works
- Pick a farm
- Choose speed and duration
- Don't Forget Pool Fees: Remember to subtract the pool fees (between 0.4-3%) from your total earnings
Hashrate delivery starts immediately or on the specified start date.
Wild Rose Mining
Fixed-return delivery starts on May 19th.
Bitcoin++ in Austin
Asher built fixed-return mining and is giving a talk today (May 8th) at the conference.
If you're in Austin this week, say hi to Asher and Nico!
Happy Thursday,
Team Rigly