Smart Mining Contract D.A.C.

I can get 128 GB of RAM and CPU's.
I was thinking maybe I could leverage that to grow a smart contract mining D.A.C.
Have a smart contract people can use to deposit ether for mining contracts.
The ether is held in the smart contract. Then after mining period starts, earned ether goes into the contract and gets divided to holders of mining contracts. The contract will know how much ether the mining should be producing and if there is shortfall for one month all the ether from purchase to any earnings will go to the mining contract holders. There will be a buffer period.
After the mining contract is complete the ether from purchases goes to new hardware.
A special smart contract is set up for people to buy shares of the D.A.C. It's earned ether goes directly into buying more hardware. But these shares will not be completely unsecured investments because it will be tied to the first smart contract and it's profits every cycle.
I can get seed hardware but I want to offer shares to someone to program the contracts and someone to set up a quality web page for sales.

Comments

  • quantumcashquantumcash Member Posts: 12
    There would be 100 shares. Profit for shareholders comes the buffer period within each cycle after mining stakes are paid. 21 shares for contract programmers 21 shares for those that maintain hardware setup. I will pay for website not using shares. Over time I will sell 27 of my remaining shares to add hardware.
  • LevelUp100LevelUp100 Member Posts: 1
    I like the idea quantumcash. we have long term advantageous hosting facilities. I was thinking about DAC's for mining, now ether should make it possible.
  • yoyoyoyo Member Posts: 34 ✭✭
    Are you suggesting to mine ether within an Ethereum smart contract ?
    Mining use information from completed transactions to put in the next block and a smart contract is a transaction too, it cannot possibly know the hash of the block it's in.
  • quantumcashquantumcash Member Posts: 12
    The contract itself does no mining. Cant imagine any cryptocurrency being so profitable to mine that it would be cost effective to use a ethereum contract to do so.
    But you can use a contract to facilitate transaction between miners and mining contract buyers.
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