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App monetization via cryptocurrency mining

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LuApp

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Hi,

We are about to finalize an SDK that enables apps to generate additional income by activating cryptocurrency mining on their users’ mobile device (the app user needs to acknowledge and approve the mining).

In case you find this interesting, I will be happy to provide you with further info about it.

Leeor
 
A couple more questions:-

1. Does the SDK provider get any financial compensation for use of the SDK?
2. What rate are the Bitcoins mined at? What kind of return should I expect per day?
 
The commission is not finalized yet, but it will be linked to volume. It will probably be anywhere between 1%-30% based on the # of number of end user installations - the higher number of installations, the lower the commission – down to 1% only.

Regarding the power consumption – we still need to run some tests to verify the exact figures. In any case, the recommendation will be to activate the mining at night during charging.

The estimated net profit (app developer) is ~ $0.04/Installed App/Month at 1.5 hours mining per day.
 
Awaiting exact figures on power consumption... But if you're suggesting that the power hit is so large that phone is expected to be powered that's a big problem.
 
Yeah, I'm not sure a mobile device (phone or tablet) is an optimal platform for long-term, resource-intensive computing...

I get how there's a large, untapped amount of computing power out there, but I certainly would not want to subject any of my devices to this...they're just not built with or for what I presume would be the necessary heat dissipation from these activities.

But then again, I've also seen how many folks treat their phones and can totally see them not caring :P.
 
scary alien said:
Yeah, I'm not sure a mobile device (phone or tablet) is an optimal platform for long-term, resource-intensive computing...
Click to expand...

It's not. You'll be mining an absolutely minuscule amount of coin.
And that variation of 1-30% commission, well I just hope that the OP is making it crystal clear that nearly a third of their minute amount of coin is going to the developer.

I get how there's a large, untapped amount of computing power out there, but I certainly would not want to subject any of my devices to this...they're just not built with or for what I presume would be the necessary heat dissipation from these activities.
Click to expand...

It's a brilliant idea for the developer. Farming out the mining to (hopefully) 1000's of devices could be quite a money earner.
But I don't believe the estimated revenue stated of 0.04 BTC/month. This is, at current conversion value $282.39.
Hm, really? From 1.5 hours mining a day, on a low powered phone device?
Can the OP explain how that estimate was arrived at?

But then again, I've also seen how many folks treat their phones and can totally see them not caring :p.
Click to expand...

Probably. There's one born every minute. ;)
 
Oh I just noticed you said the estimated PROFIT for the app developer is $282.39. So you're estimating an even higher turnover of BTC being mined on the device.
 
Hi.. I am interested, please contact me on my email : <email address removed by moderator>
 
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Well if you are interested please make sure any app you develop clearly states that it includes this. Because personally, as a user, I would regard this as malware, and would be exceptionally annoyed to find someone had sneaked it onto my phone without making it clear and giving me the choice to avoid it.
 
It's clear to me that any such bitcoin mining apps or associated libraries are scams, intended to prey on unsuspecting or naive people.
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