Mining rigs rental is that profitable?

[notlist3d]

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.

But your paying a premium for rentals.  Normally it is cheaper to own the gear and mine yourself assuming right conditions.

Since this is in the bitcoin area not sure how much altcoins have to do with OP.  That would be scrypt and a copletly different type of mining.  It sounded like OP is talking about BTC mining.

And i you are mining BTC with rental you pay premium.  Only way you are not is if you are renting to solo mine hoping to get lucky.  But your talking about a lot of cost and risk.

[knowhow]

Well after try to mine i dont know very well how those works asked support putted all right but i dont see any money into the pool i had choosed dont know either how long to credit or block enter into the blockhain soo i withdraw all balance,for me makes no sense i have to choose a pool create a worker to the rental rig,those should be done by the owners choosing the pool and just request worker details anyway im out .

[notlist3d]

Well after try to mine i dont know very well how those works asked support putted all right but i dont see any money into the pool i had choosed dont know either how long to credit or block enter into the blockhain soo i withdraw all balance,for me makes no sense i have to choose a pool create a worker to the rental rig,those should be done by the owners choosing the pool and just request worker details anyway im out .

If owner picked it on setting he would be picking one of his own.   You have to make a account on some pools to mine there, or use one that mines to a btc address.  As renter you have to do it not the owner.

But as far as mining BTC and paying BTC unless for some reason the owner did not set it high enough on price you will pretty much always lose money.  They charge more then it costs to mine BTC on rentals.

[fryarminer]

But your paying a premium for rentals.  Normally it is cheaper to own the gear and mine yourself assuming right conditions.

Exactly. I have done all forms of mining. The cloud mining that I did was not the happiest experience I've had. Both "cloud mining" sites ended up being scams. I think the ONLY way to mine is get your own machine and plug it in. You can't be scammed by a physical machine you have in your possession, you know full well you really are mining.

Buying the right rig will get ROI in about 3 months and the rest is gravy. Try doing that with rentals or clouds.

[notlist3d]

But your paying a premium for rentals.  Normally it is cheaper to own the gear and mine yourself assuming right conditions.

Exactly. I have done all forms of mining. The cloud mining that I did was not the happiest experience I've had. Both "cloud mining" sites ended up being scams. I think the ONLY way to mine is get your own machine and plug it in. You can't be scammed by a physical machine you have in your possession, you know full well you really are mining.

Buying the right rig will get ROI in about 3 months and the rest is gravy. Try doing that with rentals or clouds.

3 month ROI is kinda gone for most.  Unless you have free electricity and got a deal on used gear.   For almost all 3 month ROI left during end of GPU mining day's.   

Renting and Cloud mining are really two different things.   Renting a machine to mine BTC and paying BTC for that rental is a loss (unless you are solo mining and get lucky with lots of hash).

Cloud mining varies by company.  Make sure to do your research before jumping on a site as sadly there have been many scams.  Any investment you should research though.

[fryarminer]

But your paying a premium for rentals.  Normally it is cheaper to own the gear and mine yourself assuming right conditions.

Exactly. I have done all forms of mining. The cloud mining that I did was not the happiest experience I've had. Both "cloud mining" sites ended up being scams. I think the ONLY way to mine is get your own machine and plug it in. You can't be scammed by a physical machine you have in your possession, you know full well you really are mining.

Buying the right rig will get ROI in about 3 months and the rest is gravy. Try doing that with rentals or clouds.

3 month ROI is kinda gone for most.  Unless you have free electricity and got a deal on used gear.   For almost all 3 month ROI left during end of GPU mining day's.   

Renting and Cloud mining are really two different things.   Renting a machine to mine BTC and paying BTC for that rental is a loss (unless you are solo mining and get lucky with lots of hash).

Cloud mining varies by company.  Make sure to do your research before jumping on a site as sadly there have been many scams.  Any investment you should research though.

I've always been lucky with my rigs. I rarely buy them directly from the company, I get them used. I've always ROI'd before 3 months and I sell them at a good price.
That being said, I have terrible luck with trading. I lose every time. EVERY time.

[notlist3d]

But your paying a premium for rentals.  Normally it is cheaper to own the gear and mine yourself assuming right conditions.

Exactly. I have done all forms of mining. The cloud mining that I did was not the happiest experience I've had. Both "cloud mining" sites ended up being scams. I think the ONLY way to mine is get your own machine and plug it in. You can't be scammed by a physical machine you have in your possession, you know full well you really are mining.

Buying the right rig will get ROI in about 3 months and the rest is gravy. Try doing that with rentals or clouds.

3 month ROI is kinda gone for most.  Unless you have free electricity and got a deal on used gear.   For almost all 3 month ROI left during end of GPU mining day's.   

Renting and Cloud mining are really two different things.   Renting a machine to mine BTC and paying BTC for that rental is a loss (unless you are solo mining and get lucky with lots of hash).

Cloud mining varies by company.  Make sure to do your research before jumping on a site as sadly there have been many scams.  Any investment you should research though.

I've always been lucky with my rigs. I rarely buy them directly from the company, I get them used. I've always ROI'd before 3 months and I sell them at a good price.
That being said, I have terrible luck with trading. I lose every time. EVERY time.

What is your electricity price?  To do this with old ones would take a very low electricity price.

Do you mind sharing some of your ROI examples?  Less then 3 month's just is a pretty amazing ROI now days.

[-droid-]

sometimes you can catch good deals on rentals, but the market fluctuates so fast that one hour your mining and next hour your rental stopped because all the rented rigs jumped to a new higher price

[notlist3d]

sometimes you can catch good deals on rentals, but the market fluctuates so fast that one hour your mining and next hour your rental stopped because all the rented rigs jumped to a new higher price

A lot of the sites the owner sets the price.  With a fixed price you don't really have any "deals".    If you caught someone renting for less than it's worth its a rare occurance.

Nicehash is a little different you might catch a little better deal.  But by time pool fees very very few times will you make a profit mining for BTC and paying with BTC.   Unless it's a huge amount and solo with some luck.

[knowhow]

But your paying a premium for rentals.  Normally it is cheaper to own the gear and mine yourself assuming right conditions.

Exactly. I have done all forms of mining. The cloud mining that I did was not the happiest experience I've had. Both "cloud mining" sites ended up being scams. I think the ONLY way to mine is get your own machine and plug it in. You can't be scammed by a physical machine you have in your possession, you know full well you really are mining.

Buying the right rig will get ROI in about 3 months and the rest is gravy. Try doing that with rentals or clouds.

Well i guess you are the first that says that is possible to roi with an used rig ,turning it on and then selling it i guess you get something like 30% on those 3 months of the rig cost and then sell it for 80% from what you paid,or has free energy ,that way sure all the rig mine is pure profit and you wouldnt sell it .

[Coinminer11]

I made a good steady payout renting my miners there vs trying to mine the most profitable coin all the time. I have found in my little experience that renting power usually doesn't make me profit. There are exceptions I'm sure but that's just my opinion.

[notlist3d]

But your paying a premium for rentals.  Normally it is cheaper to own the gear and mine yourself assuming right conditions.

Exactly. I have done all forms of mining. The cloud mining that I did was not the happiest experience I've had. Both "cloud mining" sites ended up being scams. I think the ONLY way to mine is get your own machine and plug it in. You can't be scammed by a physical machine you have in your possession, you know full well you really are mining.

Buying the right rig will get ROI in about 3 months and the rest is gravy. Try doing that with rentals or clouds.

Well i guess you are the first that says that is possible to roi with an used rig ,turning it on and then selling it i guess you get something like 30% on those 3 months of the rig cost and then sell it for 80% from what you paid,or has free energy ,that way sure all the rig mine is pure profit and you wouldnt sell it .

I wish I could take credit for it but I'm not the first.  Found it reading on forum. 

Some people with very low electricity saw used miners cost much less.  And some have done very well ROI on old gear.  Some are to  old and obsolete but others work perfect for it.

These people don't usally don't buy new.  For them used is a golden ticket to ROI.

[Amph]

anyway with that proft you won't roi, you will do basically zero income, because 900 satoshi per giga is the actual profit on a s5

miningrigrental was good back then when instamining was the shit, you could instamine a big amount at launch with 1 hour renting and sell it immediately for a big buck

[djeZo]

The only renting place where you can actually make profit is NiceHash. All other rental sites charge premium for renting, so you need to pay more than what you get back.

[notlist3d]

The only renting place where you can actually make profit is NiceHash. All other rental sites charge premium for renting, so you need to pay more than what you get back.

Even on it is still hard.  Normally the price of hash is a few percent below at most (sometimes can go farther I saw 8 the other day I think).   But if you do PPS were your guaranteed even at antpool i think it's 2.5 percent.

So you  can go to a pool and have it based on blocks found and it's a gamble essentially.  Over time though renting hash with btc to mine btc is a losing bet.

[VirosaGITS]

The only renting place where you can actually make profit is NiceHash. All other rental sites charge premium for renting, so you need to pay more than what you get back.

Even on it is still hard.  Normally the price of hash is a few percent below at most (sometimes can go farther I saw 8 the other day I think).   But if you do PPS were your guaranteed even at antpool i think it's 2.5 percent.

So you  can go to a pool and have it based on blocks found and it's a gamble essentially.  Over time though renting hash with btc to mine btc is a losing bet.

Also last i heard, NiceHash charge 2% fee to buyer AND 2% to seller. Just a thing to double check before you try something there. Sometimes the Sha256d % goes 4-5% under strait BTC, like right now, but it's subject to up and down unless you used a fixed order, which is designed to be too high for this to be doable with it.

[nonbody]

if you could rent a large portion of the hashrate like 3ph of SHA then you could push up the interest in the coin as well as pump up the price

[notlist3d]

if you could rent a large portion of the hashrate like 3ph of SHA then you could push up the interest in the coin as well as pump up the price

Are you talking about BTC?   Even if you rented 3PH on BTC it would not really pump up the price or effect it.  You would just be gambling assuming your solo mining.

On alt coins if you mean that on SHA.  There are not really many good ones.  Your chances of pump/dump are not as good as you think.

[VirosaGITS]

if you could rent a large portion of the hashrate like 3ph of SHA then you could push up the interest in the coin as well as pump up the price

Are you talking about BTC?   Even if you rented 3PH on BTC it would not really pump up the price or effect it.  You would just be gambling assuming your solo mining.

On alt coins if you mean that on SHA.  There are not really many good ones.  Your chances of pump/dump are not as good as you think.

If you do that on a small coin, by itself people might just decide to dump because of how much hashrate is suddenly being pumped in. And in the end you'll just be left with coins worth less than what you paid for.

If you want to do this, just slowly buy the coins directly. Going through a convoluted hoop of renting the hashrate too just further lower your return.

[knowhow]

I had just left it since i dont understand all things i must do ,i made worker and a pool but the message from last rent they say is sucessfull i dont have a peny at my stratum pool soo i lost 20k satoshis on in ,and the first loan around 400k satoshis soo its enought for me to stay away from it.I had asked myself why to rent something you can use to mine and profit by yourself,i guess they earn more renting then mining but well without a roi the program wouldnt work,soo some of them are getting profit .