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Title: Ethereum Rental Help?! Post by: BernieSwagner on July 22, 2017, 08:29:03 AM Hello! So, I'm looking into renting some Ethereum mines on NiceHash. Although, what I want to do is rent 1Gh/s for around $68 according to this (https://www.nicehash.com/?p=buy-ethereum-mining). I ran some numbers through the CryptoCompares (https://www.cryptocompare.com/mining/calculator/eth?HashingPower=1&HashingUnit=GH%2Fs&PowerConsumption=0&CostPerkWh=0.12) Ethereum calculator and found that 1 Gh/s will make around $71 every 24 hours, leaving around a $3-4 profit. Now here comes the question, is it possible to just rent 1 Gh/s and have it just take out the price for renting again it every 24 hours? Then just leave the $3-4? Or do I have to do it manually? :'( Also, is there a possibility that I can just rent that mine without having to "bid" on it. I want to invest on a Ethereum mine but don't want the risk of my bid going to trash and not making any profit at all. I guess what I'm trying to say is that is there a way I can rent a Ethereum mine like a subscription? Where it automatically takes out the cost of running it every 24 hours? And, it stays up as long as I want it to? Without running the hardware at my home? WHAT I'M TRYING TO ACCOMPLISH I want to kind of build this like a real estate, purchase one mine that makes me around a $3-4 profit, then save up that money for another mine, then get $6-8 profit, and so on. That way the more mines I slowly get, the quicker I can get more, therefor increasing my profits. P.S: I already have a Ethereum wallet and everything like that, sorry for the noob-ish questions just really confused. Title: Re: Ethereum Rental Help?! Post by: adaseb on July 22, 2017, 08:52:49 AM If it was too easy making money on Nicehash rentals then everybody would be doing it.
There is a huge 3% fee from your price that you need to calculate. Nicehash charges those fees both ways. You either need to buy GPUs and mine ETH on your own or just buy ETH directly. Title: Re: Ethereum Rental Help?! Post by: Deathwing on July 22, 2017, 09:44:25 AM If it was too easy making money on Nicehash rentals then everybody would be doing it. There is a huge 3% fee from your price that you need to calculate. Nicehash charges those fees both ways. You either need to buy GPUs and mine ETH on your own or just buy ETH directly. This. Also, not to mention that the actual Nicehash rental price will fluctuate throughout the day. So 1 Gh/s may cost $68, but after a few minutes/hours/days when you put your order up, someone may come and claim it, and goes on like that. Therefore increasing the amount of money paid for 1 Gh/s, it MIGHT be profitable on short term (if you consider $3 a profit for $70) but not on long term. |