It is.. but it still boils down to lazyness. I mean, sure I could sit there and mine all day and put energy into it, or I could rent it out and let someone else do the work. Either way it's lazyness and money lol.
I wonder why people are renting their mining equipment.
If the diff is same for the next 30 days, then it give about 120 BTC at the end of the month. So if the guy who rent mine for himself he could get 200$ more than what he will get from renting it... It's sound strange to me
How is it strange to rent equipment for more than what a person is currently making? It means the person renting it is planing to make more money from the rental than he is paying for it, you just don't know how. So are you saying you want to rent it some hashing power to me?
No what I mean is people who rent it make a great deal of course I agree with that, but I don't understand why the seller don't use it instead of renting it.
If you have expenses right now and no means to borrow you can rent your miners or you may see more value in renting.
No what I mean is people who rent it make a great deal of course I agree with that, but I don't understand why the seller don't use it instead of renting it.
It all comes down to guaranteed money or speculative money. Businesses do this all the time. Why do you think they give you a discount for a year of their service and the most expensive one is monthly? It's because since they are guaranteed to get that amount of money they are willing to throw in incentives (lower prices). When a user buys only one month the risk is that they will stop after the first month and the company will no longer get paid.
This applies to renting bitcoin servers because if for some reason bitcoins hits the fan they still have guaranteed money. While its not as profitable its much safer and a better way to guarantee long term profits.
No what I mean is people who rent it make a great deal of course I agree with that, but I don't understand why the seller don't use it instead of renting it.
It all comes down to guaranteed money or speculative money. Businesses do this all the time. Why do you think they give you a discount for a year of their service and the most expensive one is monthly? It's because since they are guaranteed to get that amount of money they are willing to throw in incentives (lower prices). When a user buys only one month the risk is that they will stop after the first month and the company will no longer get paid.
This applies to renting bitcoin servers because if for some reason bitcoins hits the fan they still have guaranteed money. While its not as profitable its much safer and a better way to guarantee long term profits.
Thanks for those explanations, more clear now. I just saw business in different way that what people renting their own equipment did.
Thanks again
Jules
I have to agree though I was following this thread because those two were fighting to the death over this deal haha