Topic: Mining rigs rental is that profitable? - page 4. (Read 44258 times)
The only renting place where you can actually make profit is NiceHash. All other rental sites charge premium for renting, so you need to pay more than what you get back.
anyway with that proft you won't roi, you will do basically zero income, because 900 satoshi per giga is the actual profit on a s5
miningrigrental was good back then when instamining was the shit, you could instamine a big amount at launch with 1 hour renting and sell it immediately for a big buck
miningrigrental was good back then when instamining was the shit, you could instamine a big amount at launch with 1 hour renting and sell it immediately for a big buck
But your paying a premium for rentals. Normally it is cheaper to own the gear and mine yourself assuming right conditions.
Exactly. I have done all forms of mining. The cloud mining that I did was not the happiest experience I've had. Both "cloud mining" sites ended up being scams. I think the ONLY way to mine is get your own machine and plug it in. You can't be scammed by a physical machine you have in your possession, you know full well you really are mining.
Buying the right rig will get ROI in about 3 months and the rest is gravy. Try doing that with rentals or clouds.
Well i guess you are the first that says that is possible to roi with an used rig ,turning it on and then selling it i guess you get something like 30% on those 3 months of the rig cost and then sell it for 80% from what you paid,or has free energy ,that way sure all the rig mine is pure profit and you wouldnt sell it .
I wish I could take credit for it but I'm not the first. Found it reading on forum.
Some people with very low electricity saw used miners cost much less. And some have done very well ROI on old gear. Some are to old and obsolete but others work perfect for it.
These people don't usally don't buy new. For them used is a golden ticket to ROI.
I made a good steady payout renting my miners there vs trying to mine the most profitable coin all the time. I have found in my little experience that renting power usually doesn't make me profit. There are exceptions I'm sure but that's just my opinion.
But your paying a premium for rentals. Normally it is cheaper to own the gear and mine yourself assuming right conditions.
Exactly. I have done all forms of mining. The cloud mining that I did was not the happiest experience I've had. Both "cloud mining" sites ended up being scams. I think the ONLY way to mine is get your own machine and plug it in. You can't be scammed by a physical machine you have in your possession, you know full well you really are mining.
Buying the right rig will get ROI in about 3 months and the rest is gravy. Try doing that with rentals or clouds.
Well i guess you are the first that says that is possible to roi with an used rig ,turning it on and then selling it i guess you get something like 30% on those 3 months of the rig cost and then sell it for 80% from what you paid,or has free energy ,that way sure all the rig mine is pure profit and you wouldnt sell it .
sometimes you can catch good deals on rentals, but the market fluctuates so fast that one hour your mining and next hour your rental stopped because all the rented rigs jumped to a new higher price
A lot of the sites the owner sets the price. With a fixed price you don't really have any "deals". If you caught someone renting for less than it's worth its a rare occurance.
Nicehash is a little different you might catch a little better deal. But by time pool fees very very few times will you make a profit mining for BTC and paying with BTC. Unless it's a huge amount and solo with some luck.
sometimes you can catch good deals on rentals, but the market fluctuates so fast that one hour your mining and next hour your rental stopped because all the rented rigs jumped to a new higher price
But your paying a premium for rentals. Normally it is cheaper to own the gear and mine yourself assuming right conditions.
Exactly. I have done all forms of mining. The cloud mining that I did was not the happiest experience I've had. Both "cloud mining" sites ended up being scams. I think the ONLY way to mine is get your own machine and plug it in. You can't be scammed by a physical machine you have in your possession, you know full well you really are mining.
Buying the right rig will get ROI in about 3 months and the rest is gravy. Try doing that with rentals or clouds.
3 month ROI is kinda gone for most. Unless you have free electricity and got a deal on used gear. For almost all 3 month ROI left during end of GPU mining day's.
Renting and Cloud mining are really two different things. Renting a machine to mine BTC and paying BTC for that rental is a loss (unless you are solo mining and get lucky with lots of hash).
Cloud mining varies by company. Make sure to do your research before jumping on a site as sadly there have been many scams. Any investment you should research though.
I've always been lucky with my rigs. I rarely buy them directly from the company, I get them used. I've always ROI'd before 3 months and I sell them at a good price.
That being said, I have terrible luck with trading. I lose every time. EVERY time.
What is your electricity price? To do this with old ones would take a very low electricity price.
Do you mind sharing some of your ROI examples? Less then 3 month's just is a pretty amazing ROI now days.
But your paying a premium for rentals. Normally it is cheaper to own the gear and mine yourself assuming right conditions.
Exactly. I have done all forms of mining. The cloud mining that I did was not the happiest experience I've had. Both "cloud mining" sites ended up being scams. I think the ONLY way to mine is get your own machine and plug it in. You can't be scammed by a physical machine you have in your possession, you know full well you really are mining.
Buying the right rig will get ROI in about 3 months and the rest is gravy. Try doing that with rentals or clouds.
3 month ROI is kinda gone for most. Unless you have free electricity and got a deal on used gear. For almost all 3 month ROI left during end of GPU mining day's.
Renting and Cloud mining are really two different things. Renting a machine to mine BTC and paying BTC for that rental is a loss (unless you are solo mining and get lucky with lots of hash).
Cloud mining varies by company. Make sure to do your research before jumping on a site as sadly there have been many scams. Any investment you should research though.
I've always been lucky with my rigs. I rarely buy them directly from the company, I get them used. I've always ROI'd before 3 months and I sell them at a good price.
That being said, I have terrible luck with trading. I lose every time. EVERY time.
But your paying a premium for rentals. Normally it is cheaper to own the gear and mine yourself assuming right conditions.
Exactly. I have done all forms of mining. The cloud mining that I did was not the happiest experience I've had. Both "cloud mining" sites ended up being scams. I think the ONLY way to mine is get your own machine and plug it in. You can't be scammed by a physical machine you have in your possession, you know full well you really are mining.
Buying the right rig will get ROI in about 3 months and the rest is gravy. Try doing that with rentals or clouds.
3 month ROI is kinda gone for most. Unless you have free electricity and got a deal on used gear. For almost all 3 month ROI left during end of GPU mining day's.
Renting and Cloud mining are really two different things. Renting a machine to mine BTC and paying BTC for that rental is a loss (unless you are solo mining and get lucky with lots of hash).
Cloud mining varies by company. Make sure to do your research before jumping on a site as sadly there have been many scams. Any investment you should research though.
But your paying a premium for rentals. Normally it is cheaper to own the gear and mine yourself assuming right conditions.
Exactly. I have done all forms of mining. The cloud mining that I did was not the happiest experience I've had. Both "cloud mining" sites ended up being scams. I think the ONLY way to mine is get your own machine and plug it in. You can't be scammed by a physical machine you have in your possession, you know full well you really are mining.
Buying the right rig will get ROI in about 3 months and the rest is gravy. Try doing that with rentals or clouds.
Well after try to mine i dont know very well how those works asked support putted all right but i dont see any money into the pool i had choosed dont know either how long to credit or block enter into the blockhain soo i withdraw all balance,for me makes no sense i have to choose a pool create a worker to the rental rig,those should be done by the owners choosing the pool and just request worker details anyway im out .
If owner picked it on setting he would be picking one of his own. You have to make a account on some pools to mine there, or use one that mines to a btc address. As renter you have to do it not the owner.
But as far as mining BTC and paying BTC unless for some reason the owner did not set it high enough on price you will pretty much always lose money. They charge more then it costs to mine BTC on rentals.
Well after try to mine i dont know very well how those works asked support putted all right but i dont see any money into the pool i had choosed dont know either how long to credit or block enter into the blockhain soo i withdraw all balance,for me makes no sense i have to choose a pool create a worker to the rental rig,those should be done by the owners choosing the pool and just request worker details anyway im out .
Profitable if you're lucky and have time to constantly check on altcoins... It's a bit like normal mining, there's risk involved, proportional to how much you go in.
But your paying a premium for rentals. Normally it is cheaper to own the gear and mine yourself assuming right conditions.
Since this is in the bitcoin area not sure how much altcoins have to do with OP. That would be scrypt and a copletly different type of mining. It sounded like OP is talking about BTC mining.
And i you are mining BTC with rental you pay premium. Only way you are not is if you are renting to solo mine hoping to get lucky. But your talking about a lot of cost and risk.
Profitable if you're lucky and have time to constantly check on altcoins... It's a bit like normal mining, there's risk involved, proportional to how much you go in.
well i will try to mine today i put a pool from coinking and were offline yesterday ,i wil tell you more details about thise small investment ,and i will be sure about the roi if is possible,currently i see there some good prices 15th for 0.02 btc for 3 hours lol lets give it a try later
No it's probably not profitable, at least if you don't have a near free electricity. If you are looking to actually rent real rigs and not looking at some cloudmining ponzis.
These are also probably some old rigs that are not that efficient anymore. This is the only reason someone would rent them instead off running them by himself and making money.
These are also probably some old rigs that are not that efficient anymore. This is the only reason someone would rent them instead off running them by himself and making money.
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.
What strikes me is why would anyone rent out a rig if they could make profit via using it themselves. They'd have to rent it out for more then they could make which means you'd be getting it for less than you mine. BFL had a great idea with taking everyones money and mining until giving them the miner late.
I've rented out a couple of GHS/KHS on miningrigrentals (mostly on cpu minable algo's, but also 2 U2 sticks and an old gridseed 300k scrypt)... most of them were really small compared to the other rigs tough...
I can honestly say they've always payed me, and they have some sort of an escrow service to make sure the renter doesn't get ripped off...
About the fact if it's profitable: i think you have to be extremely skilled to make a profit with them... You'd have to know which coin to mine at which moment AND get lucky with the price to make a quick buck... Most rigs are priced a little higher than the amount of bitcoin you can generate with them on average (IMO)...
Personally, i wouldn't use them to rent a rig, only to rent out a rig
... But this does not mean they are a scam (i truely believe they're an honest business)
I can honestly say they've always payed me, and they have some sort of an escrow service to make sure the renter doesn't get ripped off...
About the fact if it's profitable: i think you have to be extremely skilled to make a profit with them... You'd have to know which coin to mine at which moment AND get lucky with the price to make a quick buck... Most rigs are priced a little higher than the amount of bitcoin you can generate with them on average (IMO)...
Personally, i wouldn't use them to rent a rig, only to rent out a rig
... But this does not mean they are a scam (i truely believe they're an honest business) Short answer: No.
Long answer: NOOOOOOOO.
Long answer: NOOOOOOOO.
LOL!
Funny, but not true.
They can mine an alt-coin and make some profit, but they would need to have knowledge on the subject.
And they'd need to have tens of thousands of Dollars to get started - with the processing power needed so high to earn so little, the only way to make profit is by scaling up the operation. China style scale....a warehouse of miners, humming, processing, doing math...gives me chills.
The time to income ROI is greater with a signature campaign, seriously.
Jump to: