Bitcoin Forum

What is the point in renting from nice hash and miningrigrentals.com? My calculations seem to indicate that those are all breakeven( or very nearly) opportunities.

There isn't any point. If you want to get into mining then you need to make the investment yourself and not purchase contracts from these sites. Why would it make sense for them to rent out their mining rigs to people  and promise returns? When they could just mine and keep all the profits themselves.

I see only one scenario and that is selling the time for your miner for the next say six months so you have the capital to immediately purchase a second one and so on and so on.

I don't think renting to a miner is not much profitable than mining your own. Also, its better to mine using your own mining rig at least you have what you invested and not just by waiting small profit from renting.

You can make the next CEO happy.
The last one "stepped" down with around 5k bitcoins in a "hack".
Shouldn't you try to make the new guy as rich as the previous?

Now, in reality there is no point because instead of one guy (you) in this scheme 3 guys (the miner, nicehash and you) need to make a profit.
So each slice of pie will be a lot smaller.

It works if you want to play around, don't have money to buy a miner or expensive electricity at home.
You won't get rich by it but at least you won't die trying.