• anynomous : As we can see there are only two agenda point for today, discuss the mining and vote on the purchase of mining equipment @mcmmike contacted NHash and got the following response. You can read it all to know what we are voting on in the second agenda point.

  I got a reply from nHash:

    Hi Mike,
  
    Glad to know we can cooperate with the Grin community.
    As you required 12 units G1 mini and 1 unit G1, here we quote below:
    G1 mini 1.2Gps ±10%： $799/unit
    G1 36Gps±10%：$23,999/unit
    Shipping cost to Germany by UPS, 5~8 working days, $547.
    Total $34,134
  
    This is the best price we can offer for you and Grin community members.
    Please arrange the miners payment and shipping cost to separatly address:
    Paying $33587 to below:
    USDT-ERC20： 0xb3bc59491fc5212c4963df82e94df65482e70dc0
    USDT-TRC20：TFc1XLCyD6sRJvVPCuQkjP5uF3edXo9Y2P
  
    And $547 please pay to below:
    USDT(erc)：0x0ec79678d4c952fd0ed4e32f9ef542ac93027d3f
    USDT(trc)：TXbgM7R56SHRioziPpSv94RiVt5v68NvWF
  
    Await your reply.
  
    Regards,
    NHASH support
    
  

  So in summary we get a nice discount, THX to NHash sponsoring the Community council a bit, we are thank-full for that. For the time being we can discuss Agenda point

  1. Discussion of community feedback and formal plan for community mining.

• defistaker : What is the regular price for G1 mini?

• anynomous : Normal price of the previous batch (which is sold out), was $899, but they go online for prices up to $2000

  So I am not certain what the normal price is for the latest batch but I think it save to assume the price is 1000$ at least for a single unit, so without batch discount. If any one has more up to date information, please share.

  I am unfortunately short on time, so I will already provide my vote for agenda point 2) I would wholeheartedly like to vote in favour of buying the mining equipment for the price shown in the message above:hand:.

• defistaker : I am voting in favour too

• anynomous : Regarding making an official plan for the community mining, I think we do not have a full plan yet, here are some suggestions:

  • Pay electricity prices on a quarterly basis using a month average in Grin to the community miners.
  • Regarding the G1 location, I might be able to get a place in Belgium with electricity prices of 8-10 cents. They offer for 8 for larger scale, but they might be so kind to offer it for our single unit as a way of sponsoring, still need to contact them.

• future3000 : That sounds good re elec cost. Imo we really need to bring the cost down close to 10 cents/kw to stay competitive in the future.

• anynomous : I think I can offer to provide exposure to their sponsoring, so that maybe others might use their location for mining equipment in exchange for making an exception of accepting a single miner.

  Would that be acceptable for everyone, to make such an offer, a bit similar to how NHash supporst/sponsors the community?

  Please indicate with thumbs up or down.

  ( cekickafa, defistaker , anynomous, dtavarez, future3000, dtavarez responded with thumb up)

• anynomous : Thx

• anynomous : Of course, if there are alternative locations with good electricity price, we should consider those as well. But in case there are no good alternatives, I think it is a solid plan.

• anynomous : I have to go now, I will read up later on any suggestions for setting up the mining, maybe @ future3000 can go over points discussed on the forum, so we can already discuss how to take the points given into account. Just a suggestion though, feel free to shape the discussion differently :smile:

• dtaverez :

  Pay electricity prices on a quarterly basis using a month average in Grin to the community miners

  what would it be the simplest way to do this? can we pay using grin?

• anynomous : Each miner can withdraw it himsel, but we do need to account this publicly.

• future3000 : Yeah should definitely be paid in Grin.

• dtavarez : I think we said that we will withdraw everything to the CC public Grin wallet, right?

• future3000 : Could be based on a 30day moving average of Grin/usd

  (cekickafa, defistaker, dtavarez thumb up)

• dtavarez : makes sense to me

• future3000 :

  • CC miners must confirm their avg electric $ per kw- Which they will be paid a USD equivalent of Grin in each month

  • CC miners must send all their Grin rewards to a public Grin wallet.

  • At end of each month CC miners are paid their total electric cost for the month from the public Grin wallet, based on a 30-day moving average of GRIN/USD.

  (defistaker, dtavarez, cekickafa thumb up)

• cekickafa : yes,there wont be much friction imo. nice plan:+1:

• future3000 : we also need to confirm who from CC will be allocated the G1s and how many units they will be allocated( 12x G1 mini & 1 x G1). We also need to factor in additional shipping costs( since the price quoted from Nhash is only to Germany).

  Further more; for the G1, we really need to find somewhere to host it with reasonable elec costs( circa 10c/kw). As pointed out on the forums: "Most of the CC are based in Europe where electricity can be upwards of 0.35 $/kWh, where in the US 0.12 can be fairly common.

  • 2800w @ 0.35 $/kWh is going to cost $8590 per year
  • 2800w @ 0.12 $/kWh is going to cost $2945 per year

• dtavarez : now I think, the identities should remain private, we don't know the future repercussions. because all the madness around crypto lately

• future3000 : That is a good point. We still need to confirm this internally though.

• dtavarez : yes.

• future3000 : Then we can explain the allocation publicly- eg 12x G1 mini's are being allocated to 4x CC members.

• defistaker : anynomous mentioned, he is looking into a place in belgium with 0.10 cents power cost

• future3000 : Yes, this sounds ideal. I can currently get good electric rates, $0.10/kw. But I don’t want to put my hand up for it, because I can’t guarantee how long I can get those rates for.

• defistaker :

  • CC miners must confirm their avg electric $ per kw- Which they will be paid a USD equivalent of Grin in each month

  • CC miners must send all their Grin rewards to a public Grin wallet.

  • At end of each month CC miners are paid their total electric cost for the month from the public Grin wallet, based on a 30-day moving average of GRIN/USD.

  • anynomous will get in contact in a datacenter with 8-10 cents power cost for G1 in exchange for exposure for them so that other miners can use their facilities.

  • Identities that running mining equipment will not be disclosed in public for privacy concerns ( this will be discussed internally in council)

• defistaker : This is the summary of today's meeting notes/decisions.

• dtavarez : the energy cost for G1 mini miners will be paid in grin based on a 30day moving average of Grin/usd

Meeting adjourned