Mining rigs rental is that profitable?

[knowhow]

Well i were surfing around the web and those site took my attention ,i see an average of 900 satoshis for 1ghs,is that profitable did anyone of you tryed it?is it safe? Looks like there is some users renting them,soo i suppose they get some income from them,and well looks to be safe ,meaning that with the rented rig it can achieve ROI.

[GermanGiant]

If you can rent 1% of the total hash power, then yes. It'd be profitable. Otherwise, it is just gambling.

It is better to try Cloud Mining, where you may get 10 Ths @ 8 BTC.

i see an average of 900 satoshis for 1ghs

By the way, could you please point me out, who is giving 1 Ghs @ 900 Satoshi or 0.000009 BTC ?

[knowhow]

well im very new can you guide me i need a stratum and username and password where i do get one?

[P-Funk]

Are you looking at actual rig rental or some cloud mining ponzi scam?

[cryptworld]

Not at all

Mining rental is not profitable anymore,mining is only profitable for huge mines that are able to avoid electricity and get better miners

[ranochigo]

Well i were surfing around the web and those site took my attention ,i see an average of 900 satoshis for 1ghs,is that profitable did anyone of you tryed it?is it safe? Looks like there is some users renting them,soo i suppose they get some income from them,and well looks to be safe ,meaning that with the rented rig it can achieve ROI.

Renting mining rigs allow the user to know that their rented hashpower exist and they can point it to whichever pool they want. The pricing of 1gh is for a period of time, after that period, the hashpower would be rented for someone else. This makes it much more expensive than cloudmining where you could have the hashrate till you sell it and only small fees are charged. Those mining rig rentals are mostly for people to test out their pool or altcoins.

[troleybüs]

If you know which coin to mine it's very profitable. I have a friend who is very talented in choosing new altcoins to mine. He rarely be mistaken and usually get more than %100 earnings from one coin.
Do you have enough info about altcoins? Do you know all type of hashing algorithms? Do you know about difficulty and other specifications? If you don't know what to do don't try this or you'll lose your money.

[7788bitcoin]

I have a combined of about 10GHash/s rig which actually gives about 15000 satoshis per day.

However, the cost of running is about 50W x 24 =1.2kW, which is about USD $0.20 per day (~87000 satoshis).

[bitwarrior]

Well i were surfing around the web and those site took my attention ,i see an average of 900 satoshis for 1ghs,is that profitable did anyone of you tryed it?is it safe? Looks like there is some users renting them,soo i suppose they get some income from them,and well looks to be safe ,meaning that with the rented rig it can achieve ROI.

It is profitable if you know which coins are good to mine and will be profitable in the long run. But ofcourse it will take some skill on choosing the right coins.

[LieTOme]

there are 2 options. Your profit or loss when the mine with how to rig rental

[fryarminer]

Short answer: No.

Long answer: NOOOOOOOO.

[Amph]

Are you looking at actual rig rental or some cloud mining ponzi scam?

he is probably talking about miningrigrental, the website that let you rent a rig

but with thoe rate the profit would be very low, less than 0.001 for 1 tera rented

https://www.miningrigrentals.com/rigs/sha256

[Possum577]

Well i were surfing around the web and those site took my attention ,i see an average of 900 satoshis for 1ghs,is that profitable did anyone of you tryed it?is it safe? Looks like there is some users renting them,soo i suppose they get some income from them,and well looks to be safe ,meaning that with the rented rig it can achieve ROI.

Is the 900 satoshi per ghs your income or your cost? If it's your cost, figure out how much you can earn over that. If it's your income, figure out how long it takes to process 1 ghs and then you can find out how long it'll take to earn a return over your investment.

By the way, did it occur to you to ask this question in the Mining board, where experts on this stuff tend to hang out?

Here's the link: https://bitcointalk.org/index.php?board=14.0

[S4VV4S]

Short answer: No.

Long answer: NOOOOOOOO.

LOL!
Funny, but not true.

They can mine an alt-coin and make some profit, but they would need to have knowledge on the subject.

[Possum577]

Short answer: No.

Long answer: NOOOOOOOO.

LOL!
Funny, but not true.

They can mine an alt-coin and make some profit, but they would need to have knowledge on the subject.

And they'd need to have tens of thousands of Dollars to get started - with the processing power needed so high to earn so little, the only way to make profit is by scaling up the operation. China style scale....a warehouse of miners, humming, processing, doing math...gives me chills.

The time to income ROI is greater with a signature campaign, seriously.

[altcoinhosting]

I've rented out a couple of GHS/KHS on miningrigrentals (mostly on cpu minable algo's, but also 2 U2 sticks and an old gridseed 300k scrypt)... most of them were really small compared to the other rigs tough...

I can honestly say they've always payed me, and they have some sort of an escrow service to make sure the renter doesn't get ripped off...

About the fact if it's profitable: i think you have to be extremely skilled to make a profit with them... You'd have to know which coin to mine at which moment AND get lucky with the price to make a quick buck... Most rigs are priced a little higher than the amount of bitcoin you can generate with them on average (IMO)...

Personally, i wouldn't use them to rent a rig, only to rent out a rig ... But this does not mean they are a scam (i truely believe they're an honest business)

[doublemore]

Well i were surfing around the web and those site took my attention ,i see an average of 900 satoshis for 1ghs,is that profitable did anyone of you tryed it?is it safe? Looks like there is some users renting them,soo i suppose they get some income from them,and well looks to be safe ,meaning that with the rented rig it can achieve ROI.

What strikes me is why would anyone rent out a rig if they could make profit via using it themselves.  They'd have to rent it out for more then they could make which means you'd be getting it for less than you mine.    BFL had a great idea with taking everyones money and mining until giving them the miner late.

[Mickeyb]

No it's probably not profitable, at least if you don't have a near free electricity. If you are looking to actually rent real rigs and not looking at some cloudmining ponzis.

These are also probably some old rigs that are not that efficient anymore. This is the only reason someone would rent them instead off running them by himself and making money.

[knowhow]

well i will try to mine today i put a pool from coinking and were offline yesterday ,i wil tell you more details about thise small investment ,and i will be sure about the roi if is possible,currently i see there some good prices  15th for 0.02 btc for 3 hours lol lets give it a try later

[unamis76]

Profitable if you're lucky and have time to constantly check on altcoins... It's a bit like normal mining, there's risk involved, proportional to how much you go in.