Grin Fund for Mining Idea

Since we are doing bulk ordering, maybe handy to also offer the opportunity for community members to add their own G1-mini to the order? I would love to order one for private mining and as way to improve security.
One connection of mine has a good storage space with reasonable electricity prices in Germany near NL border, I will ask if he is interested. This location is for professional mining so it could host a large amount of machines both for the Grin fund as well as for private use.
One sceptical note, how do we make sure the machines are actually delivered, or are there sufficient community members who can vet for IPOLLO, I only know Gary so far who has experience dealing with them?

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I’m not sure I’m in favor of funding a mining operation out of the Grin fund; if anything goes wrong (and a lot could go wrong) it would hurt the credibility of the entire project.

I’d much rather we organize a capital pool directly from members, where each will be entitled to a portion of the revenue in proportion to his contribution, making this a for-profit co-operation, but still leaving more graph power and grins in the hands of the real community. The person in-charge of the actual operation (a very trusted individual) would be entitled to some sort of fee.

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Note that we’re already doing something like that. We’re renting a 1080Ti equipped cloud server to ensure proper progress of testnet for several months, at a cost of $100-$150 per month.

Of course, mining on mainnet is a little different, and I don’t think we should spend a large fraction of the Fund on this. But a smaller fraction should be open to discussion.

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I would be willing to donate the electricity cost of a mini and have 100% of rewards go to the mining fund. I can stomach that out of pocket cost as the expense for 100W is quite small. I cannot stomach the out of pocket cost of buying expensive hardware and still donate all of the rewards to the grin fund as I do not have that kind of excess income.

I consider it a sound capital investment of the fund and a strong sign for support of the longevity of grin. I cant actually think of any major failure options other than ipollo not delivering the machines or recipients going M.I.A., the latter of which would be unfortunate but not the end of the world.

I forgot to upload the two images of the english descriptions of the miners provided to me by ipollo

屏幕快照 2020-12-07 下午4.38.45

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I love the idea of a grin mining pool funding the grin fund. It could be a huge positive attribute for the project. Future funding secured!

I see there is concern that it could fail. We would obviously need to QC the product before shipping a big order and that should resolve this concern.

The potential reward is massive compared to the risk if we properly vet and QC. This doesn’t get done with private money because investors want their returns, and we’ve had huge investment donations that can essentially now compound while solving security, and increase network strength. Investors can pad the buy order and receive a percent if that is their cup of tea.

No one is talking about what this would mean for the project in terms of future adoption, and strengthening the GRIN project.

Never the less. It is an exciting proposition imo. Pull this off and grin is top 10 coin

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Dont everyone jump forward to volunteer to participate as a recipient/custodian of one of these bad boys :joy: Still need feedback and help with logistics!

UPDATE

It appears as if ipollo will sell out of their first batch of miners before this proposal will be in a condition that justifies consideration for funding by the grin council. This is totally ok, in fact it is a great sign! There is plenty of time to make this idea come to life.

WHAT NOW?

The offer to the community still stands. If you would like to order a G1 or G1 mini from the community quote please let us know ASAP and have your grin or USDT ready for depositing into ipollo wallets. Full disclosure- This price agreement only covers the cost of the miner. The transportation logistics will have to be taken care of by individual buyers, but ipollo can recommend logistic companies.

Edit

See this thread below

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