Possibilities other than the obvious: People don't know what they are buying.
1. Playing the lottery - solo mine for a chance at 25BTC?
2. Hope for good luck - variance on their pool may be in their favor and they could return more than the return you describe
3. Wait until after the contract is over and then attempt a chargeback through Paypal/eBay. If the chargeback works even a quarter of the time they are ahead.
4. People pay a premium for BTC on eBay all the time. This is just a variation on that.
5. Typical eBay collusion - get your friends to bid you up, adding perceived value, and hope for a sucker.
Personally I wouldn't trust the contract sellers to deliver any more than I would trust a purchaser to not charge back. There's way too much fraud on eBay. Even worse are the preorder mining contracts. It's just insane really.
Topic: Currently available mining hardware for rent (Read 3617 times)
I've read that on the German ebay a user rents out his mining gear. He rents out his Jupiter for 12 hours, you provide the address the miner will send mining output to. You give him cash first.
This is just crazy!Here is the ebay ad: http://www.ebay.de/itm/KnC-KnCMiner-Bitcoin-Miner-ASIC-Jupiter-mit-550-GH-s-12h-Miete-/321257751573?pt=DE_Computer_Sonstige&hash=item4acc744415
So 315 Euro for 12 hours of a 550GH/s Jupiter.
315 Euro = $433 USD or .493498BTC based on the current BTC-E BTC/EUR Price.
At current difficulty 550GH/s will yield .3045BTC per day or .1523BTC in 12 hours!
So you are paying twice what you will get back!
His other one isn't any better - 680GH/s for 24 hours for 460 Euro.
http://www.ebay.de/itm/KnC-KnCMiner-Bitcoin-Miner-ASIC-Jupiter-mit-660-680-GH-s-24h-Miete-/321260785680?pt=DE_Computer_Sonstige&hash=item4acca29010
This one will mine .3765BTC in 24 hours and will cost 460 Euro or .7207BTC
Is my math right? What am I missing?
Boy what happened to all the people a month or two ago that pimped cex at every available opportunity? Told everyone ever how stupid it was to buy their own equipment, just mine on cex? Couldn't find a hardware thread anywhere that didn't have half a dozen referral links scattered about.
yah - or the difficulty of mining. It's 2x-3x higher than needed
cex.io is taking advantage of people that don't understand supply and demand.
I've read that on the German ebay a user rents out his mining gear. He rents out his Jupiter for 12 hours, you provide the address the miner will send mining output to. You give him cash first.
^^ thanks for that rishrash.. i heard people talking about them but when i went to check em out malwarebytes complained about the site so i didnt bother but i was wondering what it was about.
They're great. After the initial OMG about the trust of the site it has blossomed very well. Prices are fairly stable for the ability to re-sell them, I've been using them since October 21st. In addition to mining some BTC I have also bee fortunate enough to buy low and sell high, which also increased my BTC. Cryptotrader.org also offers cloud trading bots for them.
I may have to give em a shot. Thanks for vouching..
^^ thanks for that rishrash.. i heard people talking about them but when i went to check em out malwarebytes complained about the site so i didnt bother but i was wondering what it was about.
They're great. After the initial OMG about the trust of the site it has blossomed very well. Prices are fairly stable for the ability to re-sell them, I've been using them since October 21st. In addition to mining some BTC I have also bee fortunate enough to buy low and sell high, which also increased my BTC. Cryptotrader.org also offers cloud trading bots for them.
^^ thanks for that rishrash.. i heard people talking about them but when i went to check em out malwarebytes complained about the site so i didnt bother but i was wondering what it was about.
CEX.io is the best right now. You'll pay a bit of a premium, but no term, easy resale, and instant mining.
The website seems complex.Can I buy Ghash at any rate I set?I can even set 0.001 BTC per Ghash.Is that real?
1) open account
2) fund the account with btc using the address they give you
3) when the funds are confirmed (about an hour) buy ghashes with your funds. The site shows buy orders and sell orders. You can buy at the current price, or enter an order to be executed at your price (if it comes down)
4) As soon as your buy order is executed, you own ghashes and they are instantly put to work mining. You will see your btc balance increase as they mine.
5) You can by almost any amount, down to fractions of ghashes.
Good luck!
renting GH is not a very great idea, almost certainly you will get less BTC back then you put into it
Preach
CEX.io is the best right now. You'll pay a bit of a premium, but no term, easy resale, and instant mining.
The website seems complex.Can I buy Ghash at any rate I set?I can even set 0.001 BTC per Ghash.Is that real?
if cex.io is too complex, then renting is not for you.
anyways, renting GH is not a very great idea, almost certainly you will get less BTC back then you put into it
Yes, it's high.
It's like the stock market, you see the current price and the price people are willing to buy or sell.
CEX.io is the best right now. You'll pay a bit of a premium, but no term, easy resale, and instant mining.
I want to rent 50 or 100 Ghash/sec mining hardware.I looked at Black Arrow but theirs aren't available till March.I want to start now and see how it goes but can't find one.Can anyone suggest me a reliable brand which provides mining hardware in rent currently?
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