service no longer available

[Teka]

This service no longer available due to the recent price change and difficulty increase.

Thanks,

Teka

[1715365918]

1715365918

[1715365918]

1715365918

[Teka]

Anyone?

[aliaser]

Hi Teka,

Could you post more info about this?

[Teka]

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.

[Teka]

I'm also thinking about adding a 7990 to this list but the rental costs would probably be extremely high.

[roy7]

Out of curiosity, why not mine with them yourself?

[Teka]

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.

[mrSprinkles]

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%.

[Teka]

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.

[meebs]

Out of curiosity, why not mine with them yourself?

some people might want to "add capacity" without dealing with building a machine, powering it, cooling the environment it is in.. reselling the hardware.. etc

honestly, if profitablity stays where it is now.. $140 return on $250 in ONE MONTH is DAMNED amazing.

[Teka]

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.

[Teka]

Would you guys be interested in paying 4 months up front to keep the prices per month much lower?

[aliaser]

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?

[Teka]

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.

[meebs]

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)

[Teka]

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.

[ebildude123]

I might be interested if ltc remains profitable 

[PachucoBro]

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???

[Teka]

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.

[Vorksholk]

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.

[Teka]

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.

[Vorksholk]

Let me know when these are available

[Teka]

Let me know when these are available

I'm hoping that I can get this started before may.

[Trommie]

I'm hoping that I can get this started before may.

I am interested (despite the recent value drop in Litecoins). Will you offer a series of deals say price for one month/2/3months?Would you consider very short term rentals of a week or so or is this not in your plans? What overclock rates would you allow? Perhaps by spending time on your rig you could really optomise them far more than a newbie just playing with their own kit

This might even work as a way for people to pay for goods- instead of paying to an exchange they pay for time on your kit (perhaps eventually purchasing 30 cards hash for a day instead of 1 cards hash for 30 days), generate the coins they need and then use that to pay for what they want.

If you need to expand quickly perhaps you could act as an intermediary and rent time on cards from others (like me ) to resell for a slightly higher price.

 I'm thinking it might even help get a currency back on it's feet when a currency has been attacked like what happened to TRC recently... supporters could hire out your hash power to get things moving a little.

Seriously I've had loads of thoughts about the whole renting time on rigs plan.... I just don't have the time to implement it as a business.

[Teka]

I'm hoping that I can get this started before may.

I am interested (despite the recent value drop in Litecoins). Will you offer a series of deals say price for one month/2/3months?Would you consider very short term rentals of a week or so or is this not in your plans? What overclock rates would you allow? Perhaps by spending time on your rig you could really optomise them far more than a newbie just playing with their own kit

This might even work as a way for people to pay for goods- instead of paying to an exchange they pay for time on your kit (perhaps eventually purchasing 30 cards hash for a day instead of 1 cards hash for 30 days), generate the coins they need and then use that to pay for what they want.

If you need to expand quickly perhaps you could act as an intermediary and rent time on cards from others (like me ) to resell for a slightly higher price.

 I'm thinking it might even help get a currency back on it's feet when a currency has been attacked like what happened to TRC recently... supporters could hire out your hash power to get things moving a little.

Seriously I've had loads of thoughts about the whole renting time on rigs plan.... I just don't have the time to implement it as a business.

If you could pm with your ideas so we can discuss them in more detail that would be great. The plan is that later I would expand it into a full Server Rack with at least 24 GPUs and sell shares for the first 60 days as way of kickstarting the rental business.

[nethead]

How about you mine for me, and i give you 50% of the profits every month?
Dunno if you get me...  

also this:

[jhd]

I notice you dont take the difficulty in  your calculs

[Vorksholk]

How about you mine for me, and i give you 50% of the profits every month?
Dunno if you get me...  

also this:

Where is that from?

[Punkonjunk]

This is ridiculous. Rent a 300 dollar video card for 300 dollars, make profit?

Why wouldn't you just mine yourself, and KEEP the profit?

I don't understand how this sort of altruism COULDNT be a scam.

Additionally, your prospective client could use the 300 bucks to buy another videocard and slap it into his rig.


What you're literally asking for is "give me 300 dollars and I'll print you 450 dollars. Wow!"

if that was reasonable, at all, you would just print the cash yourself, and keep it.

This doesn't make sense.

[Vorksholk]

This is ridiculous. Rent a 300 dollar video card for 300 dollars, make profit?

Why wouldn't you just mine yourself, and KEEP the profit?

I don't understand how this sort of altruism COULDNT be a scam.

Additionally, your prospective client could use the 300 bucks to buy another videocard and slap it into his rig.


What you're literally asking for is "give me 300 dollars and I'll print you 450 dollars. Wow!"

if that was reasonable, at all, you would just print the cash yourself, and keep it.

This doesn't make sense.

From what I gather, this is a good way for him to secure the initial investment of the miners while hedging against unprofitability in the realm of mining. He agrees to take a smaller cut of what he is expecting to mine to be guaranteed to get at least x amount of dollars for his investment.

A reasonable 7950x3 system should cost around $1500 to $1600, so if he rents them out for $250/mo with a 6-month lockin, he would be able to pay for the rig upfront. After that six months, if that person leaves, he could essentially mine with free hardware. If they stay on, he still makes low-risk money.

[Trommie]

This is ridiculous. Rent a 300 dollar video card for 300 dollars, make profit?

Why wouldn't you just mine yourself, and KEEP the profit?

I don't understand how this sort of altruism COULDNT be a scam.

Additionally, your prospective client could use the 300 bucks to buy another videocard and slap it into his rig.


What you're literally asking for is "give me 300 dollars and I'll print you 450 dollars. Wow!"

if that was reasonable, at all, you would just print the cash yourself, and keep it.

This doesn't make sense.

It's not altruism at all its a business pitch. The person running the service gets a guarenteed income, the person renting gets a fully set up rig that they don't have to worry about and the payback can be a little gamble(depends on price of coins difficulty changes etc).

Rigs generate a lot of heat so someone who lives in a country with expensive electricity which is also warm would not only have to pay the few hundred watt every hour to run the rig but also have to pay the extra aircon to get rid of the heat! This might make this service more cost effective. Also remember it's not just about buying an extra card but also for some buying motherboard and power supply.

Assuming the price can be pitched correctly some people might think litecoins are going to be profitable for the next month but not for after that. So for them buying a rig and setting it up could eat a few days into their golden month, not to mention they may not expect be able to get enough returns to fully refund the price of buying cards/mobo/PSU etc in such a short amount of time but they calculate they would make a profit from this method. Also not all rigs are equal, tweaking settings can really make a difference to hash rates. This way someone rents a fully optimised set-up.

Perhaps someone just wants coins and doesn't want to run a rig and would prefer to use this method to signing up to an exvhange. Perhaps they are from a country where the internet or electricity aren't as reliable.  There's lots of reasons

It's a good idea and from previous replies it looks like Teka may be willing to be a little flexible on the price.

As with everything the price it is pitched at is key!!

Here's an example:

Lets say my rig cost $3 a day in electricity and can generate 3 Litecoins. Current rate is say 1L = 1.5USD. Someone wants 3 litecoins. they could buy off an exchange for $4.50 paying their fees etc or I can rent my box to that person for $3.75 for the day they can generate their 3 coins (assuming no change in difficulty over that time). Now I get guarenteed profit of 75 cents and the person may get cheaper coins. if the price of coins goes up they've done well if it comes down then my guarenteed profit over that day may be more than the what i would have got from mining myself.

I just need to pitch the price to rent my rig to someone who wantslitecoins and perhaps thinks that at the end of the 24 hours litecoins will still be worth $1.50 each or more

IIt's a beatiful little business idea. The difficulty for Teka, and others trying this is to make it into a proper business,

[Teka]

This is ridiculous. Rent a 300 dollar video card for 300 dollars, make profit?

Why wouldn't you just mine yourself, and KEEP the profit?

I don't understand how this sort of altruism COULDNT be a scam.

Additionally, your prospective client could use the 300 bucks to buy another videocard and slap it into his rig.


What you're literally asking for is "give me 300 dollars and I'll print you 450 dollars. Wow!"

if that was reasonable, at all, you would just print the cash yourself, and keep it.

This doesn't make sense.

The target client is someone who doesn't want to build an entire rig or doesn't have the time to monitor the machine.This thread is more a of a project development thread rather then a final announcement thread so most of the prices will probably be different and the entire project might change into a pay per share style project.

[Vorksholk]

If Teka's a person who enjoys building computers, this could be a very fun hobby.

[nethead]

Where is that from?

I got this image on my mail last week, for nearly every day

[Marrs]

This is ridiculous. Rent a 300 dollar video card for 300 dollars, make profit?

Why wouldn't you just mine yourself, and KEEP the profit?

I don't understand how this sort of altruism COULDNT be a scam.

Additionally, your prospective client could use the 300 bucks to buy another videocard and slap it into his rig.


What you're literally asking for is "give me 300 dollars and I'll print you 450 dollars. Wow!"

if that was reasonable, at all, you would just print the cash yourself, and keep it.

This doesn't make sense.

I don't think is is a scam, at least not in an outright theft kind of way.

He wants to become a shovel vendor during the coming mining craze. He wants to lock in his profits and let the renters take the risk of the price volatility.

There's no way the deal makes sense to anyone with the ability to make and manage their own boxes, though.

[teodor87]

I did not get one thing. Do you intend to buy 1 card for each user or what? Because I don't think you will have enough power supply in your home for more than 30 users per say if your installation is 10KWh.

And I don't get the whole you keeping the card thing.

I mean you get money from others to buy a card for yourself. Then charge for electricity and profit.

However, if a user don't use you anymore you get the card for free? Without covering at least 50% of it?

It sounds like a great deal - for you.

[wizzardTim]

Hi,

I may be interested in renting the 7950 for some months. So, i'd like to ask you the following questions:

- how many cards 7959 do u have?
- will u make a better price if i rent many gpus for a month or so?
- can we discuss a better price since the difficulty arises and the LTC price has dropped?

TIA

[teodor87]

Hi,

I may be interested in renting the 7950 for some months. So, i'd like to ask you the following questions:

- how many cards 7959 do u have?
- will u make a better price if i rent many gpus for a month or so?
- can we discuss a better price since the difficulty arises and the LTC price has dropped?

TIA

Read the topic. He does not have any. He wants you to pay 4 months in advance so that he could buy those. Which is stupid. Since you could buy them for yourself.

[iruleeveryone28]

Anyone?

have you incorporated difficulty into your 30 day quote? it is currently rising @20% every 3 days.