Earnings with GPUMAX? - page 3. | Bitcointalksearch.org

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Quote from: ?? on ??

Quote from: BCMan on May 20, 2012, 01:08:03 AM

20% more than with usual pool? You sure?
On other side it's more profitable for others to rent mhashes there, so not need pay for electricity, which is a huge plus. Maybe it's more profitable way for some than to mine with own rigs.
How to register there btw? I've entered my mail around 1-2 months ago. No response.

People are paying 20% more than solo mining per share. How can they make money off mining like that ?

IE: they are paying 1.2BTC to mine 1BTC worth of Bitcoins.

The system only lets you choose from a list of pools to point the hash power to, so leasers can't pool hop either.

Also, keep waiting, you'll be invited soon.

Of that 1.2 BTC you got to mine 1 BTC how much will be left after you pay for your electric expenses?

BCMan

hero member

Activity: 535

Merit: 500

20% more than with usual pool? You sure?
On other side it's more profitable for others to rent mhashes there, so not need pay for electricity, which is a huge plus. Maybe it's more profitable way for some than to mine with own rigs.
How to register there btw? I've entered my mail around 1-2 months ago. No response.

DILLIGAF

full member

Activity: 196

Merit: 100

Quote from: Blazr on May 19, 2012, 05:02:55 PM

IMO both GPUMax and BCS&T (both ran by pirateat40) are both pretty sketchy services, we really don't know how GPUMax can pay so much to miners, and how BCS&T can pay up to 28% interest/mo on deposits.

I take my chances with GPUMax due to the daily payments, but won't be touching BCS&T anytime soon.

My thoughts on it as well, I'll take my chances on losing 10-20 coins not the hundreds+ you stand to lose on the latter if it goes tits up.

Blazr

hero member

Activity: 882

Merit: 1006

Quote from: i_rape_bitcoins on May 19, 2012, 04:59:01 PM

Lol, so this is a great way to launder tainted bitcoins.

Yep, because there are no previous transactions for freshly-mined coins, but I find it hard to believe they would pay such high rates just to launder coins, there are much cheaper ways of doing it.

IMO both GPUMax and BCS&T (both ran by pirateat40) are both pretty sketchy services, we really don't know how GPUMax can pay so much to miners, and how BCS&T can pay up to 28% interest/mo on deposits.

I take my chances with GPUMax due to the daily payments, but won't be touching BCS&T anytime soon.

i_rape_bitcoins

member

Activity: 70

Merit: 10

Quote from: Blazr on May 19, 2012, 04:52:18 PM

Quote from: i_rape_bitcoins on May 19, 2012, 04:27:27 PM

Quote from: Blazr on May 19, 2012, 04:24:42 PM

Quote from: i_rape_bitcoins on May 19, 2012, 04:18:46 PM

I have a question for GPUMAX users:

Does GPUMAX give you more earnings than a traditional pool? I have around 4 ghash and wanted to get the most Bitcoins for my hashpower.

GPUMax isn't a pool.

Your miners connect to GPUMax.

GPUMax then sends your hash power to your pool of choice.

Whenever GPUMax can lease your GPU for more than your pool is paying you, they do it and pay you more.

Therefore, GPUMax has to pay you more, as it only actually kicks-in whenever they can pay you more.

Alright, that sounds nice. But has anyone ever rented your hash power?

I don't see the reason why anyone would want to rent, they would have to pay more including the markup than what they would earn.

My hash power is rented 70-80% of the time (for around 20% more than solo mining would pay).

There a few different reasons to rent hash power, most are nefarious, and the two big ones are to wash money or hop proportional pools (although pool hopping isn't possible for those renting from GPUMax). Somebody is profiting off your GPU in some way or another.

Some people do use it as an easy to to buy Bitcoins (Ie, rent GPU's via PayPal and use them to mine), but AFAIK GPUMax only allows people to rent using Bitcoins, so that one doesn't apply to GPUMax either.

Another legitimate reason is to use your GPU to merge mine, so they actually get the Bitcoin's mined + other crypto-currenices mined. This is usually only 1-2% more profitable though, not near enough the rates GPUMax renters are paying.

Lol, so this is a great way to launder tainted bitcoins.

Blazr

hero member

Activity: 882

Merit: 1006

Quote from: i_rape_bitcoins on May 19, 2012, 04:27:27 PM

Alright, that sounds nice. But has anyone ever rented your hash power?

I don't see the reason why anyone would want to rent, they would have to pay more including the markup than what they would earn.

My hash power is rented 50-70% of the time (for around 10-20% more than solo mining would pay).

There a few different reasons to rent hash power, most are nefarious, and the two big ones are to wash money or hop proportional pools (although pool hopping isn't possible for those renting from GPUMax). Somebody is profiting off your GPU in some way or another.

Some people do use it as an easy to to buy Bitcoins (Ie, rent GPU's via PayPal and use them to mine), but AFAIK GPUMax only allows people to rent using Bitcoins, so that one doesn't apply to GPUMax either.

Another legitimate reason is to use your GPU to merge mine, so they actually get the Bitcoin's mined + other crypto-currenices mined. This is usually only 1-2% more profitable though, not near enough the rates GPUMax renters are paying.

i_rape_bitcoins

member

Activity: 70

Merit: 10

Quote from: Blazr on May 19, 2012, 04:24:42 PM

Quote from: i_rape_bitcoins on May 19, 2012, 04:18:46 PM

I have a question for GPUMAX users:

Does GPUMAX give you more earnings than a traditional pool? I have around 4 ghash and wanted to get the most Bitcoins for my hashpower.

GPUMax isn't a pool.

Your miners connect to GPUMax.

GPUMax then sends your hash power to your pool of choice.

Whenever GPUMax can lease your GPU for more than your pool is paying you, they do it and pay you more.

Therefore, GPUMax has to pay you more, as it only actually kicks-in whenever they can pay you more.

Alright, that sounds nice. But has anyone ever rented your hash power?

I don't see the reason why anyone would want to rent, they would have to pay more including the markup than what they would earn.

Blazr

hero member

Activity: 882

Merit: 1006

Quote from: i_rape_bitcoins on May 19, 2012, 04:18:46 PM

I have a question for GPUMAX users:

Does GPUMAX give you more earnings than a traditional pool? I have around 4 ghash and wanted to get the most Bitcoins for my hashpower.

GPUMax isn't a pool.

Your miners connect to GPUMax.

GPUMax then sends your hash power to your pool of choice.

Whenever GPUMax can lease your GPU for more than your pool is paying you, they do it and pay you more.

Therefore, GPUMax has to pay you more, as it only actually kicks-in whenever they can pay you more.

i_rape_bitcoins

member

Activity: 70

Merit: 10

I have a question for GPUMAX users:

Does GPUMAX give you more earnings than a traditional pool? I have around 4 ghash and wanted to get the most Bitcoins for my hashpower.

Topic: Earnings with GPUMAX? - page 3. (Read 8000 times)