service no longer available - page 2.

Teka

hero member

Activity: 840

Merit: 1000

Quote from: PachucoBro on April 09, 2013, 11:13:29 PM

I don't get the RENTAL thing people talk about...

The one business that did something sorta like what individuals are trying to copy is ASICMINER? where they took investors money and gave them shares in the business.

This rental things you have described will not work with people who can understand basic math and the risk involved in trusting you to maintain the equipment and 24/7 mining uptime.

Your original post reads: "Anyone interested in giving me money up front to go buy the computer equipment needed and then pay me x dollars to give you (x dollars + y%) back every month." Makes no sense... you have to make money at this and the way you do it is y% is less than what is actually getting mined.

For you: You have no money to buy the equipment yourself. So people asking why don't you just mine yourself... good question... and that is the answer.

For customers: After you pay for about 2-4 months rental you will have paid the entire cost of the equipment that you could have bought yourself and mined.

So how do this work for anyone???

I will definitely look into doing something like ASICMINER. I was trying to offer a service for users who don't want to pay electricity or want to get more profit because they don't have to build an entire rig dedicated to mining.

PachucoBro

newbie

Activity: 56

Merit: 0

I don't get the RENTAL thing people talk about...

The one business that did something sorta like what individuals are trying to copy is ASICMINER? where they took investors money and gave them shares in the business.

This rental things you have described will not work with people who can understand basic math and the risk involved in trusting you to maintain the equipment and 24/7 mining uptime.

Your original post reads: "Anyone interested in giving me money up front to go buy the computer equipment needed and then pay me x dollars to give you (x dollars + y%) back every month." Makes no sense... you have to make money at this and the way you do it is y% is less than what is actually getting mined.

For you: You have no money to buy the equipment yourself. So people asking why don't you just mine yourself... good question... and that is the answer.

For customers: After you pay for about 2-4 months rental you will have paid the entire cost of the equipment that you could have bought yourself and mined.

So how do this work for anyone???

ebildude123

full member

Activity: 223

Merit: 100

I might be interested if ltc remains profitable Tongue

Teka

hero member

Activity: 840

Merit: 1000

Quote from: meebs on April 09, 2013, 09:32:40 PM

OP, I assume you have proof of access/ownership of these cards and the right to rent them out?

Any kind of uptime management provided with this service, or do we manually have to monitor the machine via some kind of remote access (teamviewer, logmein etc)

Yes the cards are fully owned by me and the person who I'm working with simply supplies the cards due to their discount. I could monitor the machine from 4 pm to around 11pm UK time . The idea is that to keep prices as low as possible I might have to put multiple gpu's into the sever and rent the gpu's instead of the entire server unless the community dislikes that idea.

meebs

hero member

Activity: 616

Merit: 500

OP, I assume you have proof of access/ownership of these cards and the right to rent them out?

Any kind of uptime management provided with this service, or do we manually have to monitor the machine via some kind of remote access (teamviewer, logmein etc)

Teka

hero member

Activity: 840

Merit: 1000

Quote from: aliaser on April 09, 2013, 09:03:33 PM

Quote from: Teka on April 09, 2013, 05:45:59 PM

I've decided to offer the 7950 for now. The problem with charging 10-25% per month is that because this a start up I would have to charge users for at least 4 months up front.

Price ~ example?

It would cost £249 or $369 for the 4 months so around £65 or $99 per month. I would also offer a dual GPU bundle for £440 or $675 so around £110 per month or $165. I'm also thinking about doing an extreme rental option by offering the 7990 for rental. The 7990 would cost £149 or $250 per month with payment up front for 6 months.

aliaser

newbie

Activity: 14

Merit: 0

Quote from: Teka on April 09, 2013, 05:45:59 PM

I've decided to offer the 7950 for now. The problem with charging 10-25% per month is that because this a start up I would have to charge users for at least 4 months up front.

Price ~ example?

Teka

hero member

Activity: 840

Merit: 1000

Would you guys be interested in paying 4 months up front to keep the prices per month much lower?

Teka

hero member

Activity: 840

Merit: 1000

Quote from: mrSprinkles on April 09, 2013, 05:28:35 PM

Your prices are outrageous, you charge more for 1 month rental of a 7770 than you can buy one for ($92 on newegg). The 7850 can be purchased for less on ebay than your one month rental... When people buy video cards they have the ability to resell them in case the coin crashes, if you want this to be anywhere near successful, you're going to have to charge 10-25%/month of what the video card costs, not 125%.

I've decided to offer the 7950 for now. The problem with charging 10-25% per month is that because this a start up I would have to charge users for at least 4 months up front.

meebs

hero member

Activity: 616

Merit: 500

Quote from: roy7 on April 09, 2013, 05:14:23 PM

Out of curiosity, why not mine with them yourself?

some people might want to "add capacity" without dealing with building a machine, powering it, cooling the environment it is in.. reselling the hardware.. etc

honestly, if profitablity stays where it is now.. $140 return on $250 in ONE MONTH is DAMNED amazing.

Teka

hero member

Activity: 840

Merit: 1000

Quote from: mrSprinkles on April 09, 2013, 05:28:35 PM

Your prices are outrageous, you charge more for 1 month rental of a 7770 than you can buy one for ($92 on newegg). The 7850 can be purchased for less on ebay than your one month rental... When people buy video cards they have the ability to resell them in case the coin crashes, if you want this to be anywhere near successful, you're going to have to charge 10-25%/month of what the video card costs, not 125%.

These prices are based on the UK market prices for example a 7770 costs $169 dollars here in the UK so I didn't realize that for US users they are extremely expensive. I will try to fix the prices or I might only offer the 7970 for now.

mrSprinkles

full member

Activity: 265

Merit: 100

Your prices are outrageous, you charge more for 1 month rental of a 7770 than you can buy one for ($92 on newegg). The 7850 can be purchased for less on ebay than your one month rental... When people buy video cards they have the ability to resell them in case the coin crashes, if you want this to be anywhere near successful, you're going to have to charge 10-25%/month of what the video card costs, not 125%.

Teka

hero member

Activity: 840

Merit: 1000

Quote from: roy7 on April 09, 2013, 05:14:23 PM

Out of curiosity, why not mine with them yourself?

You would have to pay electricity costs. Also, these rental prices are much cheaper then the market price of these gpu's due to the fact that I'm friends with someone who gets a discount on computer parts.

roy7

sr. member

Activity: 434

Merit: 250

Out of curiosity, why not mine with them yourself?

Teka

hero member

Activity: 840

Merit: 1000

I'm also thinking about adding a 7990 to this list but the rental costs would probably be extremely high.

Teka

hero member

Activity: 840

Merit: 1000

Quote from: aliaser on April 09, 2013, 09:48:48 AM

Hi Teka,

Could you post more info about this?

What else do you want to know?

You rent the graphics card for 30 days after the payment has come through everything will be set-up to your personal preference.

For example,

Lets say you want to rent the 7950 and you want to mine LTC with guiminer on the litecoin pool. When the payment is confirmed I will install guiminer and set it up so that it mines litecoin with your username on the litecoin pool. The 30 day starts as soon as one share is accepted.

aliaser

newbie

Activity: 14

Merit: 0

Hi Teka,

Could you post more info about this?

Teka

hero member

Activity: 840

Merit: 1000

Anyone?

Teka

hero member

Activity: 840

Merit: 1000

This service no longer available due to the recent price change and difficulty increase.

Thanks,

Teka

Topic: service no longer available - page 2. (Read 2598 times)