Renting Hash Power, is it profitable?

[ejhayehm]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

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[ejhayehm]

No, renting hash power is almost never profitable, think of it like this, would you sell someone mining hash when you could make more by just doing it yourself?

then why people rent and spend so much money? that is what boggles me.

[coynedterm]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

No, Because hash power to give another at rent is much loss for you , as the hash power give by you at rent will give to the hash power profit owned by the person is more then rent and he is getting Profit until the power works without doing  .
So think about it thoroughly .

[Wind_FURY]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

First ask yourself why Nicehash are renting out hash power. Did it not occur to you that their rigs are not profitable for themselves? The purpose of renting out hash power is to transfer their risk to you. You are the hedge in their risk of their mining operation. So the answer to your question is a simple no.

[ejhayehm]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

First ask yourself why Nicehash are renting out hash power. Did it not occur to you that their rigs are not profitable for themselves? The purpose of renting out hash power is to transfer their risk to you. You are the hedge in their risk of their mining operation. So the answer to your question is a simple no.

I get all your point. and thanks for a heads up for me not to rent hash power again. but the question right now is, why are there still people renting hash power on them spending like 1 bitcoin or more. I just dont really get it.

[ejhayehm]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

First ask yourself why Nicehash are renting out hash power. Did it not occur to you that their rigs are not profitable for themselves? The purpose of renting out hash power is to transfer their risk to you. You are the hedge in their risk of their mining operation. So the answer to your question is a simple no.

I get all your point. and thanks for a heads up for me not to rent hash power again. but the question right now is, why are there still people renting hash power on them spending like 1 bitcoin or more. I just dont really get it.

Occasionally during certain times they can be profitable but the majority is no, it also depends on how they are paying. They don't have to be mining bitcoin and can be renting the miners for an altcoin that just launched trying to get a lot of coins at low difficulty, essentially they are gambling.

maybe that explains it why people are renting enormous amount of hashing power. thanks for the answer man.

[densuj]

No, renting hash power is almost never profitable, think of it like this, would you sell someone mining hash when you could make more by just doing it yourself?

then why people rent and spend so much money? that is what boggles me.

Usually the people who rent and spend so much money for renting hash power, they are traders altcoins.
They mine new coins that has low difficulty of mining and the coins that new on exchangers and still there are values, they usually renting hash power on nicehash.(at least it is my experience when looking for new coins will be mined).
And they doesn't mined old coins (dash,bitcoin, litecoin and other coins that has high difficulty of mining),
Because it is un profitable.

[ejhayehm]

No, renting hash power is almost never profitable, think of it like this, would you sell someone mining hash when you could make more by just doing it yourself?

then why people rent and spend so much money? that is what boggles me.

Usually the people who rent and spend so much money for renting hash power, they are traders altcoins.
They mine new coins that has low difficulty of mining and the coins that new on exchangers and still there are values, they usually renting hash power on nicehash.(at least it is my experience when looking for new coins will be mined).
And they doesn't mined old coins (dash,bitcoin, litecoin and other coins that has high difficulty of mining),
Because it is un profitable.

I therefore conclude that renting hash power is profitable, it all depends what coins to mine.

[U2]

No. It's not. Ever. Just don't do it. They're always all a scam 100% of the time. Avoid them at all costs!!!

[gredisgold88]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

no harm, in some period of time you will be back for sure BTC + profit, maybe people choose to rent hash for estimating the cost of hardware, internet and electricity, better hire a hash albeit a small profit

[400actforsale]

First, the Mining board would be more suitable for this...

The hashing power providers (renters) are looking for at least the reward of mining bitcoin directly, and if they will incur a loss when they rent hashing power to you, they'll just mine bitcoin directly. So the hash power rentals will be more expensive than the bitcoins mined (or other altcoins) and it is hence not profitable.

P.S. Unless the price of BTC skyrockets 10-20% in a day so the payment amount (if settled in USD) is less than the bitcoins mined (the same as the difficulty goes down). But by this you can simply buy BTC with USD (or EUR, GBP...) and forget about renting hash powers.

[Huge Black Woman]

No, renting hash power is almost never profitable, think of it like this, would you sell someone mining hash when you could make more by just doing it yourself?

then why people rent and spend so much money? that is what boggles me.

I don't know, is handin' all yo hard earnt money over to a televangelist profitable?  Is drinkin' it up every weekend profitable?  Nope.  But people still be doin' it left, right, left, right, up, down, up, down, B, A, start.  People be stupid.

[GreenLighter]

If you find a good altcoin to mine, sure

[OliynyK]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

Are you renting the hash power or leasing it,leasing the hash power is not at all a profitable thing if you are investing small amount of money ,you wont really get your initial investment back if you are going to do that.

[kiklo]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

Renting Hash Power Profitable  :  NOPE

why many people still renting hash power:    Gullible

If someone is renting it out, it means they make more money from renting than if they used it themselves.
You were smart to pick up that you were being scammed, some people never do.  


 

[davis196]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

Are you talking about cloud mining?

No,it`s not profitable.It`s a scam.Just don`t do it.

I don`t know why people still fall into this scam.

[Juggy777]

Avoid it completely don't go for such tactics to make btc. You should have first asked here and then go ahead to invest in it. Hope you have not invested more than what you have written here. If there were huge profits why would they give you, use logic rather greed. This schemes are carefully marketed to confuse people, but with Lil efforts you can force a way out, all you need is to apply logic, and next time make good use of this forum, first search what you need and then post if there no answer available. But just don't go for such schemes.

[darklus123]

I do rent hash power and yes it is profitable but the question would be how much time were you going to earned your ROI? during this past months difficulty went really high so probably it would take you 8-15 months to get back your investment. I only invest in hashnest anyways

[Kakmakr]

It is a nice way to wash money, if you asking me. You create some legitimate company selling hashing power and you push some illegal money through it in a Ponzi type funding. The supposed investors could be your own "dirty" money. Some of these people rent out the hashing power and once they hooked enough people or when they hook a shark, they just close shop and dissapear. These operations are full of scammers, so I would avoid them at all cost.

[kiklo]

I do rent hash power and yes it is profitable but the question would be how much time were you going to earned your ROI? during this past months difficulty went really high so probably it would take you 8-15 months to get back your investment. I only invest in hashnest anyways

I call Bullshit,

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