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Author Topic: Hardware rental  (Read 303 times)
CustomDesigned
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December 15, 2016, 10:06:41 PM
 #1

It wasn't clear where this belongs, this is my best guess.

I want to rent mining hardware hosting.  No, I don't expect to "make a profit".  What I do expect:

o To pay via credit card.  Having mined BTC escrowed until the CC transaction is permanent is understandable.
o To choose which mining pool to use.
o An effective USD -> BTC rate competitive to BTM machines (which of course includes a healthy profit for the operator).
o Visibility of escrowed payouts during the escrow phase.
o After the escrow period, my chosen mining pool provides visibility of hashrate and makes payouts directly to my wallet.

I have mining hardware in my home, but at current difficulties, it is too noisy (fans).  I have used BTM machines, but they are becoming too invasive (not the operators fault - government requirements).  In person cash transactions have minimums that are too high.

I tried a small amount on genesis-mining, but the total lack of feedback makes me suspect it is a scam.  Plus, they don't let me choose the mining pool.  I have a (possibly irrational) loyalty to Eligius.

Paying for BTC mining rentals with BTC is counter productive - as it effectively donates BTC to the operator.  Mining rentals only make sense economic sense when paying with a currency different from the one being mined.  The operator might as well just keep all the BTC mined and skip the rental.  You are effectively making a negative interest loan to the operator!
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leowonderful
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December 15, 2016, 10:22:45 PM
 #2

Pretty much just hardware hosting, then. I know a few who accept CC as payment but most accept BTC. I'd say this belongs more in just the service discussion section, though. Doesn't really have much to do with hardware. It's a little different from direct hosting, but I guess with enough work done it could very well work.

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ps_jb
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December 16, 2016, 12:05:08 AM
 #3

It wasn't clear where this belongs, this is my best guess.

I want to rent mining hardware hosting.  No, I don't expect to "make a profit".  What I do expect:

o To pay via credit card.  Having mined BTC escrowed until the CC transaction is permanent is understandable.
o To choose which mining pool to use.
o An effective USD -> BTC rate competitive to BTM machines (which of course includes a healthy profit for the operator).
o Visibility of escrowed payouts during the escrow phase.
o After the escrow period, my chosen mining pool provides visibility of hashrate and makes payouts directly to my wallet.

I have mining hardware in my home, but at current difficulties, it is too noisy (fans).  I have used BTM machines, but they are becoming too invasive (not the operators fault - government requirements).  In person cash transactions have minimums that are too high.

I tried a small amount on genesis-mining, but the total lack of feedback makes me suspect it is a scam.  Plus, they don't let me choose the mining pool.  I have a (possibly irrational) loyalty to Eligius.

Paying for BTC mining rentals with BTC is counter productive - as it effectively donates BTC to the operator.  Mining rentals only make sense economic sense when paying with a currency different from the one being mined.  The operator might as well just keep all the BTC mined and skip the rental.  You are effectively making a negative interest loan to the operator!

No way
Bananana
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December 16, 2016, 08:57:58 AM
 #4

It wasn't clear where this belongs, this is my best guess.

I want to rent mining hardware hosting.  No, I don't expect to "make a profit".  What I do expect:

o To pay via credit card.  Having mined BTC escrowed until the CC transaction is permanent is understandable.
o To choose which mining pool to use.
o An effective USD -> BTC rate competitive to BTM machines (which of course includes a healthy profit for the operator).
o Visibility of escrowed payouts during the escrow phase.
o After the escrow period, my chosen mining pool provides visibility of hashrate and makes payouts directly to my wallet.

I have mining hardware in my home, but at current difficulties, it is too noisy (fans).  I have used BTM machines, but they are becoming too invasive (not the operators fault - government requirements).  In person cash transactions have minimums that are too high.

I tried a small amount on genesis-mining, but the total lack of feedback makes me suspect it is a scam.  Plus, they don't let me choose the mining pool.  I have a (possibly irrational) loyalty to Eligius.

Paying for BTC mining rentals with BTC is counter productive - as it effectively donates BTC to the operator.  Mining rentals only make sense economic sense when paying with a currency different from the one being mined.  The operator might as well just keep all the BTC mined and skip the rental.  You are effectively making a negative interest loan to the operator!

www.nicehash.com (not a referral link)

Basically you can rent hash from nicehash which is basically the same as what you wanted plus save all your escrow problem and shipping hardware charges.

Or better still, rent from mining rig rentals (www.miningrigrentals.com) which is basically what you wanted.

CustomDesigned
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December 17, 2016, 05:13:30 PM
 #5

www.nicehash.com (not a referral link)

Basically you can rent hash from nicehash which is basically the same as what you wanted plus save all your escrow problem and shipping hardware charges.

Or better still, rent from mining rig rentals (www.miningrigrentals.com) which is basically what you wanted.

Both of those require that you already have BTC.  If I already had BTC, I wouldn't be looking to rent miners.  If you are trying to make a profit mining, you just have to suck it up and make a room for noisy fans.  (And a source of cheap electricity.)

JasonXG
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December 24, 2016, 04:21:22 AM
 #6

So you really want to convert your fiat into btc ? Wow mining for that seems time consuming. Why not just use localbitcoin ?
Maybe even buy some here ? I would recommend localbitcoin though. I know what you mean about the BTM it is insane fees they charge, it is as bad as paypal.  Undecided

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