Interesting idea, might be cool if people could rent out the entire system and either SSH in (if Linux) or RD into Windows (if you use that), but then I guess people might do some risky overclocks and such . . . Is this basically a way for you to take a lower-than-average but constant cut on your hardware, kinda like PPS on steroids? Sounds cool, I might be interested.  The idea is that you don't have to build an entire rig so you save money on equipment costs and therefore your profit is much better. |
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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. |
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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. |
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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. |
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kncminer maybe answer our questions?
kncminer- It might be wise to end the negative comments and skepticism early by actively participating in this thread. People have been burned. Hard. I placed an order. It didn't cost me anything. However, I will not release funds until some confirmation of hardware is released. After that, I might order a few more. Cheers. +1 I thinks it a great idea to address at least some of the questions the community has. |
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Would you guys be interested in paying 4 months up front to keep the prices per month much lower?
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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. |
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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. |
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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. |
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I'm also thinking about adding a 7990 to this list but the rental costs would probably be extremely high.
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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. |
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It's not that easy, you have to build the server up from scratch as "no" server comes with a dedicated GPU built in, which means you'd have to spend for the Mobo, CPU, RAM, GPU, the case, fans to keep it cooled and a reliable PSU + you have to find somewhere to colo it, So it works out to much more than the value you quoted. I've built a lot of severs before and the prices I quoted include Mobo, CPU, RAM and PSU. The idea is that the server will be payed back over 2 months.I already have a server setup for the first 3 clients. The worst case scenario is that those prices will have to go up to £229 or $349 leaving only 40 dollars of profit. Sounds nice, good luck. At the end of the day there is room for both us. I would love to offer cpu mining but sadly all of my servers are already in use and you came up with the idea so I won't steal it from you |
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It's not that easy, you have to build the server up from scratch as "no" server comes with a dedicated GPU built in, which means you'd have to spend for the Mobo, CPU, RAM, GPU, the case, fans to keep it cooled and a reliable PSU + you have to find somewhere to colo it, So it works out to much more than the value you quoted. I've built a lot of severs before and the prices I quoted include Mobo, CPU, RAM and PSU. The idea is that the server will be payed back over 2 months.I already have a server setup for the first 3 clients. The worst case scenario is that those prices will have to go up to £229 or $349 leaving only 40 dollars of profit. |
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This service no longer available due to the recent price change and difficulty increase.
Thanks,
Teka
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If you are willing to code it i can surely host it. But you are talking about just running an orderbook right? not a full exchange like btc-e with hot wallets and automated clearing?
I was talking about a full exchange. Like btc-e but just for BTE/BTC. And I will need a VPS to host it on (since the site would require a bitcoin client and a bytecoin client). hell yes. This sounds awesome, i definitely can provide those things and i definitely want to talk about this more but now is bed time. Ill send you a pm tomorrow k! I would love to be part of that! +1 000 000 000 for the idea and the fact that you want to make it open source |
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We should really get some people together and get a bytecoin exchange going.
im watching new boston java script tutorials as fast as i can but im still a ways away from doing something like that. I really want to learn how to make an all virtual currency exchange but i have a lot to learn first. I'm willing to code an exchange, and I will make it open source as well. I just need someone to provide hosting. If you are willing to code it i can surely host it. But you are talking about just running an orderbook right? not a full exchange like btc-e with hot wallets and automated clearing? +1 Are you talking about running a bytecoin exchange like btc-e ? |
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Interested  |
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I love bitcoin because it gives you anonymity and it makes your money independent from governments.
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