This PACMiC does seem like it would be safer. Hmmmm …
Profit is computed each block by:
Unpaid principal (BTC) * 0.8 (satoshis per BTC per second) * time to find a block (seconds)
So if you are “lucky” and the first block takes an hour to find:
.666 BTC * .8 satoshi/s * 3600 s = 1918 satoshi
Next block would probably be lower as the unpaid balance goes down.
Since the unpaid balance is lower it will be paid down faster. This makes it more likely to not hit the contract time limit but the profit will also decline faster.
I know a lot of people really love these contracts. I hear chatter about them all the time. I think there is a perception of very little risk. The risk is more in what happens to BTC. Maybe I should try one of these.
EDIT: It isn’t lower yield per BTC spent. Argh! I wasn’t thinking when I said “probably lower yield”. I removed that comment.