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Topic: Renting 550 mh/s short term contract - page 2. (Read 4525 times)

full member
Activity: 142
Merit: 100
June 18, 2011, 08:56:28 AM
#18
Sounds good.
full member
Activity: 210
Merit: 100
firstbits: 121vnq
June 17, 2011, 09:58:22 PM
#17
So far everyone got what that wanted. Thanks for a quick and easy setup OP. Will report back in a day or so about what speeds and uptime I am getting.
newbie
Activity: 34
Merit: 0
June 17, 2011, 09:31:13 PM
#16
I have a 750mh/s rig and I know this is a bad deal.
full member
Activity: 142
Merit: 100
June 17, 2011, 04:19:08 PM
#15
Whatever... Just looking for a stable payout, and this way let's people experience mining hassle free. I'll ask my first buyer how he likes it.
full member
Activity: 210
Merit: 100
firstbits: 121vnq
June 17, 2011, 04:05:31 PM
#14
I think the proper term is a hedge, esp if you are mining with another 3500mh/s
full member
Activity: 142
Merit: 100
June 17, 2011, 04:01:48 PM
#13
You're also betting against difficulty raises and prices...
full member
Activity: 224
Merit: 100
June 17, 2011, 03:08:09 PM
#12
Short term leasing makes no sense to me.  Leases could be seen as a way to bet for or against the long-term movements in the value of bitcoins or in the difficulty of mining them, but over two weeks you're basically just talking about a loan paid back in bitcoins.  If you will guarantee mining 7 bitcoins over two weeks, which are currently worth $100, why would you sell it for $75? That's 33% interest in two weeks.  Go to a pawn shop if you're that hard up, otherwise wait it out and collect $100 in two weeks.
full member
Activity: 210
Merit: 100
firstbits: 121vnq
June 17, 2011, 01:50:13 PM
#11
sure I will do $75
full member
Activity: 142
Merit: 100
June 17, 2011, 01:31:44 PM
#10
$75....
full member
Activity: 210
Merit: 100
firstbits: 121vnq
June 17, 2011, 12:24:23 PM
#9
I will rent for $50 for 2 weeks as I think value of bitcoins is actually somewhere around $10 range. that gives me $20 profit.
member
Activity: 84
Merit: 10
June 17, 2011, 11:55:49 AM
#8
Price adjusted accordingly for dropping price and rising difficulty.

You're still more than 50% above what someone is going to earn.
They can just buy, at today's price, 13 BTC for $200.
Or they can pay you, wait two weeks, and earn 8, with no guarantees that they will actually earn 8, or that your rig will be 100% of the time.

Why would anyone do this?
legendary
Activity: 2026
Merit: 1005
June 17, 2011, 11:36:02 AM
#7
Just for fun  Grin Grin Grin
I have 1.8 Ghash rig - so... anybody for 600 USD  Roll Eyes Roll Eyes Roll Eyes
full member
Activity: 142
Merit: 100
June 17, 2011, 10:15:28 AM
#6
Price adjusted accordingly for dropping price and rising difficulty.
legendary
Activity: 2618
Merit: 1007
June 16, 2011, 08:07:15 PM
#5
Well, then he'd be making himself a bad deal, if he believes that the price would hold.
If he doesn't then he wouldn't be mining in the first place.

I call it the miner's dilemma! Wink
member
Activity: 84
Merit: 10
June 16, 2011, 07:59:12 PM
#4
Edit: Oh another one! Wink
0.5 is a bit low for 550MH/s, even with the 10% PPS fee at deepbit

I was just using integers.  Wink

Now, if he'd charge $100...
legendary
Activity: 2618
Merit: 1007
June 16, 2011, 07:44:51 PM
#3
550MH/s give at current difficulty ~0.63 BTC/day
0.63 BTC/day * 14 days = 8.82 BTC
250/8.82 = 28.34 USD/BTC

Interesting price you have there!

This does not even factor in the difficulty increase that is likely to happen before these 2 weeks end.

To get these 8.82 BTC (well, you will get even less with your offer... anyways!) I can either pay ~160 USD at MtGox and have them at once or pay 250 USD and get them in 2 weeks.

 Roll Eyes

Sometimes I wonder if basic math is even tought at schools nowadays...

Edit: Oh another one! Wink
0.5 is a bit low for 550MH/s, even with the 10% PPS fee at deepbit
member
Activity: 84
Merit: 10
June 16, 2011, 07:43:06 PM
#2
Renting my 550+ mh/s rig for minimum 2 weeks, only $250 for 2 weeks. Guaranteed 100% uptime, delivered to a pool of your choice. No hassles, just instant mining. Start now before the next difficulty raise. No waiting for components, building the rig, paying for electricity, etc.

550 mh/s:  0.5 BTC / day (at current difficulty, which will go UP in 9 days (on a PPS Pool))
Total BTC in 14 days:  7
1 BTC = $18 USD
7 BTC = $126 USD

Just saying.
full member
Activity: 142
Merit: 100
June 16, 2011, 07:36:30 PM
#1
Renting my 550+ mh/s rig for minimum 2 weeks, max 4 weeks. Prices are below. Guaranteed 100% uptime, delivered to a pool of your choice. No hassles, just instant mining. Start now before the next difficulty raise. No waiting for components, building the rig, paying for electricity, etc.
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