Topic: [ANN] LeaseRig.net Rent & Hire Scrypt(Jane/Nfactor)/SHA3/SHA256/X11 HashPower! - page 65. (Read 125841 times)

I've got a client who rented my Scrypt rig 30 minutes ago. I just checked it, he has it connected to a Scrypt-Jane pool, and so is getting 100% rejects. I've sent him 2 emails, and am not getting a response.

Other providers: Any thoughts on what should I do?

I've temporarily connected him to a multipool with his BTC refund address as the payout address, so at least he isn't just wasting his hashes. 

You can make a profit. For example, lets say you buy 24 hours on a 3 MHs scrypt rig at the current lowest rate (0.0063/MH/s/day). That will cost you about .02 BTC. However, if you head over to one of the profitability calculators you'll see that the current most profitable coins will get you .03+ BTC per day with that hashrate.

Of course, that isn't a guaranteed. Fees, price swings, and numerous other factors can eat into that profitability margin. There's always a chance that a pool will have bad luck or underperform. The rig operator and LeaseRigs make a guaranteed profit (the BTC you pay) while you do not have any such guarantees. You COULD make a profit but that doesn't mean you will. There's nothing stopping you from shooting yourself in the foot by using the rigs you rent inefficiently.

There are 2 approaches to mining.

The first is mining for income right now. If that is your goal, don't rent, it won't pay. Invest in some ASICs and pound the crap out of whatever is the most profitable coin that second until it rolls over and dies... then move to the next one. Rotate your hardware out every 3 months for the newest version. Then sell the old ones to some dope who doesn't understand that they will be worthless in 3 more months. Keep doing this until you can't afford the hardware upgrades any more, and then bail out.

The second is mining for speculation. That's where you use your brain to pick coins that you feel have a chance to succeed. You can buy them or mine them, whichever you prefer. You target specific coins, like a stock trader picks stocks. In this case, you don't necessarily care about the current value of the coins, just what you speculate the value will be in the future. You probably would not invest tons of money in hardware to mine the coins, since it's a lot of risk. If you decide to mine, you would just use a service like leaserig to mine them. There is no big outlay of cash, and you can "pulse" your hash power as needed. It's a very powerful tool if you are speculating. You continue to do this and trade coins in the exchanges, growing the value exponentially over time until you're holding the winning coin some time down the road.

Take your pick.  

Because you believe a coin will rise in value, or because the pool has a 2x promotion, like ghash did a while ago.

Can you please help me understand...if the price I get on leaserig is always going to be higher than the amount of coins I can mine with the leased equipment, why should I lease?

I wouldn't call it a significant difference.
The lowest price of available rigs as of right now:

scrypt: 8.8% difference

• .0055 btc/mhs/day for betarigs
• .006250 btc/mhs/day for leaserig

scrypt-n: 2% difference

• .0123 btc/mhs/day for betarigs
• .01255814 btc/mhs/day for leaserig

It's not always the case. However, I imagine less competition on leaserigs to be the primary cause. That said, I've seen people on betarigs offer their rigs for below what they can mine on their own in some cases. I would never do that. If I can make more coin mining on my own, then I mine on my own. It's a business, not a charity. The hardware has a very limited time of usefulness, and I'm trying to make the most of it. It seems it will eventually end up as a buyers market, making the hassle of renting it out not worth it. Until then, I'll take the small margin over my baseline.

The prices are not that different, but the reason may be that the underlying technologies are different. I would suggest that leaserig's is more reliable and more accurately reports actual hash speed, something that benefits everyone.

Betarig's technology operates more like a centralized pool, while leaserig decentralizes by "controlling" the pools of the leased rig by rewriting the miner/proxy pools via API access. Since they don't have API access to the leased rig, betarigs can't determine the true hashing speed, and determines speed on work submitted. This could be lower than actual hash.

I think smart miners want to have more control and better reporting.

I have replied & returned. Check your pms.

Probadly because rigs here works flawlessly (most of the time), better UI, you don't have to scroll thru endless list of ridiculous rig names
I dunno

Yes sorry. You are too stoned to operate with this right now.

Why are the prices so expensive for leaserigs compared to betarigs?

No comment.

ha ha ha ha celebrating, eh!

It looks like you're putting website sale proceeds to good use 

 

lmao

Yes sorry. I am too stoned to operate with this right now. I will process all PMs tomorrow.

Hi miaviator i've been trying to get a hold of djezo for my security deposit to get my refund but hes not answering my messages will i ever gonna see my security deposit again?
 

I will try to make this as simple as it gets as a revised version of guide (Method B) this is if you have a static ip and are using a config file (BAMT)

Forward your port, standard in BAMT is 4028. So you can do that for now, I suggest changing it however for security reasons.
- Go to http://checkmyports.com/ on your miner and see if it is open. If it is then you are good. Also, if you do not know your external IP this is where you can obtain it easily as you will need it for LeaseRig.

Configure cgminer, bfgminer,...(since many miners share same API, just follow this regardless of which miner you use)

You have to enable API listening on your cgminer. Following config options have to be added in cgminer config


Then go to your LeaseRig admin page, configuration, then put your externalIP:port into "Mining rig address (including port)*:"  So it should look something like this "Mining rig address (including port)*: 50.122.333.222:4028"

Update, enable your rig. And you should be good to go.

You will also want to do this: