Topic: Renting 550 mh/s short term contract - page 2. (Read 4534 times)
Sounds good.
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.
I have a 750mh/s rig and I know this is a bad deal.
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.
I think the proper term is a hedge, esp if you are mining with another 3500mh/s
You're also betting against difficulty raises and prices...
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.
sure I will do $75
$75....
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.
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?
Just for fun 
I have 1.8 Ghash rig - so... anybody for 600 USD
I have 1.8 Ghash rig - so... anybody for 600 USD
Price adjusted accordingly for dropping price and rising difficulty.
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!
If he doesn't then he wouldn't be mining in the first place.
I call it the miner's dilemma!
Edit: Oh another one!
0.5 is a bit low for 550MH/s, even with the 10% PPS fee at deepbit
0.5 is a bit low for 550MH/s, even with the 10% PPS fee at deepbit
I was just using integers.
Now, if he'd charge $100...
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.
Sometimes I wonder if basic math is even tought at schools nowadays...
Edit: Oh another one!
0.5 is a bit low for 550MH/s, even with the 10% PPS fee at deepbit
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.
Sometimes I wonder if basic math is even tought at schools nowadays...
Edit: Oh another one!
0.5 is a bit low for 550MH/s, even with the 10% PPS fee at deepbit
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.
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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