Mining rigs rental is that profitable? - page 2.

notlist3d

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Quote from: Amph on October 21, 2015, 01:52:25 AM

it can only be profitable on new altcoin if you instamine with tons of hashpower rented for 3 hours max, or even less if possible, because the outcome of a new alt is unknown there is the chances of a big gain

i would not try it for anything else, but it was profitable with cointellect, very profitable Cheesy

The problem is there is not a lot of new altcoins worth mining really. This has happeneded a few times (paycoin days) where price jumped to rediclous prices on renting.

But for most part we have not seen this for a while I would say. BTC is pretty much what everyone is mining as far as sha.

Amph

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it can only be profitable on new altcoin if you instamine with tons of hashpower rented for 3 hours max, or even less if possible, because the outcome of a new alt is unknown there is the chances of a big gain

i would not try it for anything else, but it was profitable with cointellect, very profitable Cheesy

notlist3d

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Quote from: knowhow on October 20, 2015, 06:07:29 PM

Well i were at clould when bitcoin were on the 360 dollars i guess,nowadays i dont know the interest on buying and selling hash,on that time i guess around 100ghs were trading daily.

Cloud is kinda a separate investment then rental. Cloud is more longterm (in most cases). Rental's are usally a short time.

Just holding has been pretty amazing (269 atm on BTC). So I'm really happy on price.

knowhow

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Well i were at clould when bitcoin were on the 360 dollars i guess,nowadays i dont know the interest on buying and selling hash,on that time i guess around 100ghs were trading daily.

notlist3d

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Quote from: knowhow on October 19, 2015, 06:29:03 PM

Quote from: notlist3d on October 18, 2015, 04:30:47 PM

Quote from: knowhow on October 18, 2015, 01:52:06 PM

Bit x cloud ,someone said 1ghs gives around 130 satoshis,soo these value are fixed or volatil?And the roi calculated at btc is around 3 years.Altcoins get pumped and dumped if lucky the coins mined can turn into profit but well is a shot in the dark the same way as rent and wait to roi .

I don't know current price. If you sign into Bit-x you can see the hash market. I suggest taking a look at it if interested.

I would not base it off what someone say's. There is a lot of info that is crap to be honest. But do some research and see what you think. I know I have trusted 2 sites with a little on cloud. But I always say don't let me push you into it.

Well im member of there already ,but not interested at all at cloud since i know that is almost impossible ro roi,if the website doesnt allow you to resell the hash to others,i had used cex.io and well i were able to roi since the hash market is like bitcoin up and down.

Bit-X has a hash market. I don't know the most about it as I have not sold it. But it has open buying and selling. So I would think you could sell.

But I am still a lot bigger in hardware as I enjoy to tinker. I have a little in the "cloud" but not tons.

knowhow

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Quote from: notlist3d on October 18, 2015, 04:30:47 PM

Quote from: knowhow on October 18, 2015, 01:52:06 PM

Bit x cloud ,someone said 1ghs gives around 130 satoshis,soo these value are fixed or volatil?And the roi calculated at btc is around 3 years.Altcoins get pumped and dumped if lucky the coins mined can turn into profit but well is a shot in the dark the same way as rent and wait to roi .

I don't know current price. If you sign into Bit-x you can see the hash market. I suggest taking a look at it if interested.

I would not base it off what someone say's. There is a lot of info that is crap to be honest. But do some research and see what you think. I know I have trusted 2 sites with a little on cloud. But I always say don't let me push you into it.

Well im member of there already ,but not interested at all at cloud since i know that is almost impossible ro roi,if the website doesnt allow you to resell the hash to others,i had used cex.io and well i were able to roi since the hash market is like bitcoin up and down.

notlist3d

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Quote from: knowhow on October 18, 2015, 01:52:06 PM

Bit x cloud ,someone said 1ghs gives around 130 satoshis,soo these value are fixed or volatil?And the roi calculated at btc is around 3 years.Altcoins get pumped and dumped if lucky the coins mined can turn into profit but well is a shot in the dark the same way as rent and wait to roi .

I don't know current price. If you sign into Bit-x you can see the hash market. I suggest taking a look at it if interested.

I would not base it off what someone say's. There is a lot of info that is crap to be honest. But do some research and see what you think. I know I have trusted 2 sites with a little on cloud. But I always say don't let me push you into it.

knowhow

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Bit x cloud ,someone said 1ghs gives around 130 satoshis,soo these value are fixed or volatil?And the roi calculated at btc is around 3 years.Altcoins get pumped and dumped if lucky the coins mined can turn into profit but well is a shot in the dark the same way as rent and wait to roi .

notlist3d

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Quote from: VirosaGITS on October 15, 2015, 07:37:29 AM

Quote from: Amph on October 15, 2015, 02:17:14 AM

Quote from: mavericklm on October 15, 2015, 12:58:28 AM

For altcoins yes! for btc is stupid as hell!!!

no even for altcoin it's not profitable, otherwise it mean that who is renting is losing a chance to make more profit

yeah you can find some stupid like that, that didn't the math but they are not the standard

If you rent a lot of hashrate at -10% of the average Bitcoin profitability, you would stand to gain 8~9%~ overall profit on your investment after fees. But you'd need to truly rent a ton of it and have a big BTC rollover to get through variance until you normalize.

Getting it at negative 10 is not really that easy though. Nicehase has been pretty consistent around -5 or so. So it is less.... but fees and such make it where you would lose just renting.

I'm sure it happens everyonce in a while but as general rule renting BTC mining with BTC is a loss.

VirosaGITS

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Quote from: Amph on October 15, 2015, 02:17:14 AM

Quote from: mavericklm on October 15, 2015, 12:58:28 AM

For altcoins yes! for btc is stupid as hell!!!

no even for altcoin it's not profitable, otherwise it mean that who is renting is losing a chance to make more profit

yeah you can find some stupid like that, that didn't the math but they are not the standard

If you rent a lot of hashrate at -10% of the average Bitcoin profitability, you would stand to gain 8~9%~ overall profit on your investment after fees. But you'd need to truly rent a ton of it and have a big BTC rollover to get through variance until you normalize.

Amph

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Quote from: mavericklm on October 15, 2015, 12:58:28 AM

For altcoins yes! for btc is stupid as hell!!!

no even for altcoin it's not profitable, otherwise it mean that who is renting is losing a chance to make more profit

yeah you can find some stupid like that, that didn't the math but they are not the standard

notlist3d

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Quote from: mavericklm on October 15, 2015, 12:58:28 AM

For altcoins yes! for btc is stupid as hell!!!

This is BTC part of forum not altcoin. So we should be talking about BTC. So it is not smart to mine BTC and pay with BTC in general. (Assuming not lotto mining).

And even on altcoin it sometimes is harder to justify then just buying.

mavericklm

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For altcoins yes! for btc is stupid as hell!!!

notlist3d

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Quote from: knowhow on October 14, 2015, 04:20:29 PM

I guess is best to trade bitcoin and altcoins,bitcoin value is good to invest ,mining renting would be great if there is a garantee that you will proof even being 20k satoshis for ghs..... the risk involved is you cant predict the result.

That is the hard parts. There is solo mining with huge amounts of luck involved and great profit as a possibility. Lower rentals seem the fees kill most of the profit.

PPS is going to be hard on it with fees so guaranteed profit is not there. Other kind's of mining are there but luck plays a factor. So it's kinda gambling I see it as unless you are the one renting the miner. The owner is the winner.

knowhow

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I guess is best to trade bitcoin and altcoins,bitcoin value is good to invest ,mining renting would be great if there is a garantee that you will proof even being 20k satoshis for ghs..... the risk involved is you cant predict the result.

notlist3d

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Quote from: knowhow on October 13, 2015, 04:08:57 PM

Well sure there are some people that keeps profit from renting plans otherwise the rigs wouldnt be running and the websites would be down.

Not really some people just assume they are getting paid more look at Nicehash. Currently it is paying 5 percent less then if the owners would have got 100 percent of BTC mining. And its under the amount they would get on the 24 hours on pool if its getting 100 percent.

Yes a site like betarigs is better but they have been shrinking on renters and amount of rigs it seemed to be as I looked at it.

knowhow

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Well sure there are some people that keeps profit from renting plans otherwise the rigs wouldnt be running and the websites would be down.

notlist3d

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Quote from: jmintuck02 on October 13, 2015, 01:32:48 AM

Quote from: notlist3d on October 12, 2015, 02:35:51 PM

Quote from: herbst on October 12, 2015, 12:27:12 PM

Quote from: knowhow on September 28, 2015, 04:52:04 PM

Well i were surfing around the web and those site took my attention ,i see an average of 900 satoshis for 1ghs,is that profitable did anyone of you tryed it?is it safe? Looks like there is some users renting them,soo i suppose they get some income from them,and well looks to be safe ,meaning that with the rented rig it can achieve ROI.

Personally i think no, why sell it when you can earn more from it? But if you mean those sites where you rent miners short time i see a lot of potential if you jump on the right coin in the right moment. I did that with Blackcoin on the launch for example (also others, but that was the most profitable one) i would usually see that i mine for like 12-24 hours and then stop, wait a few days (or for the next pump if the coin was active and pushed) and sell.

The thing is most SHA256 alt coins are crap/pump and dump coins. There really is not a second sha coin that most want to hold. So this makes renting hard as nothing besides BTC really brings good money.

On rental you will pay MORE then what it costs to mine the BTC. So unless your pool was lucky or you are doing massive solo mining chances are it's a bad bet. Only thing is nicehash for some reason seems to be under sha price sometimes but add fees it really is not a super deal even when it appears to be lower.

Buying BTC or owning the rig is best long term.

Quote

Buying BTC or owning the rig is best long term.

I KNEW IT! I cottonpicking knew it! I was RIGHT to actually go and buy a couple rigs. I am barely surviving by instinct in this and I was really thinking buying rigs of my own

would be helpful, not JUST for BTC, but also for altcoins to mine, baghold and trade for BTC as well. I could also rent hashpower out as well.

It depends on your ROI math and if it comes true, on if you made right decision. But if you were costantly renting BTC miners, with BTC most likely you were losing money unless you were betting on luck.

But long term rentals really are not great. Rentals should be a supplemental hash. Not something that needs to go 24x7 for weeks.

jmintuck02

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Quote from: notlist3d on October 12, 2015, 02:35:51 PM

Quote from: herbst on October 12, 2015, 12:27:12 PM

Quote from: knowhow on September 28, 2015, 04:52:04 PM

Well i were surfing around the web and those site took my attention ,i see an average of 900 satoshis for 1ghs,is that profitable did anyone of you tryed it?is it safe? Looks like there is some users renting them,soo i suppose they get some income from them,and well looks to be safe ,meaning that with the rented rig it can achieve ROI.

Personally i think no, why sell it when you can earn more from it? But if you mean those sites where you rent miners short time i see a lot of potential if you jump on the right coin in the right moment. I did that with Blackcoin on the launch for example (also others, but that was the most profitable one) i would usually see that i mine for like 12-24 hours and then stop, wait a few days (or for the next pump if the coin was active and pushed) and sell.

The thing is most SHA256 alt coins are crap/pump and dump coins. There really is not a second sha coin that most want to hold. So this makes renting hard as nothing besides BTC really brings good money.

On rental you will pay MORE then what it costs to mine the BTC. So unless your pool was lucky or you are doing massive solo mining chances are it's a bad bet. Only thing is nicehash for some reason seems to be under sha price sometimes but add fees it really is not a super deal even when it appears to be lower.

Buying BTC or owning the rig is best long term.

Quote

Buying BTC or owning the rig is best long term.

I KNEW IT! I cottonpicking knew it! I was RIGHT to actually go and buy a couple rigs. I am barely surviving by instinct in this and I was really thinking buying rigs of my own

would be helpful, not JUST for BTC, but also for altcoins to mine, baghold and trade for BTC as well. I could also rent hashpower out as well.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: herbst on October 12, 2015, 12:27:12 PM

Quote from: knowhow on September 28, 2015, 04:52:04 PM

Well i were surfing around the web and those site took my attention ,i see an average of 900 satoshis for 1ghs,is that profitable did anyone of you tryed it?is it safe? Looks like there is some users renting them,soo i suppose they get some income from them,and well looks to be safe ,meaning that with the rented rig it can achieve ROI.

Personally i think no, why sell it when you can earn more from it? But if you mean those sites where you rent miners short time i see a lot of potential if you jump on the right coin in the right moment. I did that with Blackcoin on the launch for example (also others, but that was the most profitable one) i would usually see that i mine for like 12-24 hours and then stop, wait a few days (or for the next pump if the coin was active and pushed) and sell.

The thing is most sha alt coins are crap/pump and dump coins. There really is not a second sha coin that most want to hold. So this makes renting hard as nothing besides BTC really brings good money.

On rental you will pay MORE then what it costs to mine the BTC. So unless your pool was lucky or you are doing massive solo mining chances are it's a bad bet. Only thing is nicehash for some reason seems to be under sha price sometimes but add fees it really is not a super deal even when it appears to be lower.

Buying BTC or owning the rig is best long term.

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