Ask Slashdot: Would You Accept 'Bitcoin-Ware' Apps? 232
After the E-Sports Entertainment Association admitted to sneaking Bitcoin-mining code into its client software, an anonymous reader writes "I thought that could have been a pretty clever idea, if it was made clear to the users that they could get the app and run it for free as long as, let's say, they accept that it would be run for Bitcoin mining for five hours a week, when their computer is idle. That could make a lot of profit for the developers if their app is truly successful, and without the users having to pay much (only a limited number of hours per week, and if the user is no longer running the app then it won't try to mine anymore). What do you think about this?"
Terrible idea. (Score:5, Informative)
Most users would be mining on CPU power, and that means very poor chance to get any results while wasting enormous amounts of electricity.
You should look at the Mining hardware comparison [bitcoin.it]. Summarizing: Best Xeon setups get 66Mhash/s and most common desktop setups go 1-10Mhash/s
Meanwhile, FPGA mining devices reach 1000-10,000Mhash/s and ASIC ones get order of 10,000-60,000 at powers like 600W.
Now to get power comparable to a single ASIC rig you'd need roughly 1000 customers running 24/7 or 33,000 customers running 5h a week.
33,000 CPUs running at full power, zero energy saving, to produce results comparable with a 600W appliance. This is to stay moderately competetive and get *some* ROI.
While the cost is distributed between the customers, the real cost - the amount of energy wasted - is staggering.
Re:No. (Score:4, Informative)
I'm not sure quite what you're trying to clarify here? If you want to make more money than you currently charge, then charge more than you currently charge. A scheme like the bitcoin mining plan is just an underhanded way to (probably grossly inefficiently) suck money from your customers' inability to calculate the actual costs of the "free" deal. As noted in SharpFang's post below, most customers running on normal hardware will probably be mining bitcoin at a steep loss --- paying much more in energy, both for the computer and air conditioning to remove the excess heat --- than the bitcoins are even worth. Trying to scrape a bit of extra profit with large hidden costs to the customer might be a successful marketing plan, but you're an asshole for doing it. Just be up-front about what you charge; and, if you honestly think your customers would benefit from some better use of their computer's idle time, then give them separate tools to allow them to make that choice for themselves (educated with all the necessary information) --- don't make those choices for them just to pad your bottom line.
Re:Oh for Christ's sake (Score:5, Informative)
Get your schemes right. This is no Ponzi scheme.
At most it's a pump-and-dump.
1. Invest in something (goods, shares, bitcoins)
2. Spread hype or outright lies to cause the price to rise (eg, claim the company you just bought stock in got a massive contract)
3. Sell at the inflated price, and do so quickly before people realise the misinformation.