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Author Topic: Renting 550 mh/s short term contract  (Read 4419 times)
aceman1011
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June 17, 2011, 12:36:30 AM
 #1

Renting my 550+ mh/s rig for minimum 2 weeks, max 4 weeks. Prices are below. Guaranteed 100% uptime, delivered to a pool of your choice. No hassles, just instant mining. Start now before the next difficulty raise. No waiting for components, building the rig, paying for electricity, etc.

Rent my 800 + mh/s rig. PM me!
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Rob P.
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June 17, 2011, 12:43:06 AM
 #2

Renting my 550+ mh/s rig for minimum 2 weeks, only $250 for 2 weeks. Guaranteed 100% uptime, delivered to a pool of your choice. No hassles, just instant mining. Start now before the next difficulty raise. No waiting for components, building the rig, paying for electricity, etc.

550 mh/s:  0.5 BTC / day (at current difficulty, which will go UP in 9 days (on a PPS Pool))
Total BTC in 14 days:  7
1 BTC = $18 USD
7 BTC = $126 USD

Just saying.

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Sukrim
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June 17, 2011, 12:44:51 AM
 #3

550MH/s give at current difficulty ~0.63 BTC/day
0.63 BTC/day * 14 days = 8.82 BTC
250/8.82 = 28.34 USD/BTC

Interesting price you have there!

This does not even factor in the difficulty increase that is likely to happen before these 2 weeks end.

To get these 8.82 BTC (well, you will get even less with your offer... anyways!) I can either pay ~160 USD at MtGox and have them at once or pay 250 USD and get them in 2 weeks.

 Roll Eyes

Sometimes I wonder if basic math is even tought at schools nowadays...

Edit: Oh another one! Wink
0.5 is a bit low for 550MH/s, even with the 10% PPS fee at deepbit

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Rob P.
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June 17, 2011, 12:59:12 AM
 #4

Edit: Oh another one! Wink
0.5 is a bit low for 550MH/s, even with the 10% PPS fee at deepbit

I was just using integers.  Wink

Now, if he'd charge $100...

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Sukrim
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June 17, 2011, 01:07:15 AM
 #5

Well, then he'd be making himself a bad deal, if he believes that the price would hold.
If he doesn't then he wouldn't be mining in the first place.

I call it the miner's dilemma! Wink

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aceman1011
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June 17, 2011, 03:15:28 PM
 #6

Price adjusted accordingly for dropping price and rising difficulty.

Rent my 800 + mh/s rig. PM me!
anatolikostis
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June 17, 2011, 04:36:02 PM
 #7

Just for fun  Grin Grin Grin
I have 1.8 Ghash rig - so... anybody for 600 USD  Roll Eyes Roll Eyes Roll Eyes
Rob P.
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June 17, 2011, 04:55:49 PM
 #8

Price adjusted accordingly for dropping price and rising difficulty.

You're still more than 50% above what someone is going to earn.
They can just buy, at today's price, 13 BTC for $200.
Or they can pay you, wait two weeks, and earn 8, with no guarantees that they will actually earn 8, or that your rig will be 100% of the time.

Why would anyone do this?

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lemonginger
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June 17, 2011, 05:24:23 PM
 #9

I will rent for $50 for 2 weeks as I think value of bitcoins is actually somewhere around $10 range. that gives me $20 profit.
aceman1011
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June 17, 2011, 06:31:44 PM
 #10

$75....

Rent my 800 + mh/s rig. PM me!
lemonginger
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June 17, 2011, 06:50:13 PM
 #11

sure I will do $75
Adam
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June 17, 2011, 08:08:09 PM
 #12

Short term leasing makes no sense to me.  Leases could be seen as a way to bet for or against the long-term movements in the value of bitcoins or in the difficulty of mining them, but over two weeks you're basically just talking about a loan paid back in bitcoins.  If you will guarantee mining 7 bitcoins over two weeks, which are currently worth $100, why would you sell it for $75? That's 33% interest in two weeks.  Go to a pawn shop if you're that hard up, otherwise wait it out and collect $100 in two weeks.

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aceman1011
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June 17, 2011, 09:01:48 PM
 #13

You're also betting against difficulty raises and prices...

Rent my 800 + mh/s rig. PM me!
lemonginger
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June 17, 2011, 09:05:31 PM
 #14

I think the proper term is a hedge, esp if you are mining with another 3500mh/s
aceman1011
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June 17, 2011, 09:19:08 PM
 #15

Whatever... Just looking for a stable payout, and this way let's people experience mining hassle free. I'll ask my first buyer how he likes it.

Rent my 800 + mh/s rig. PM me!
Zeth
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June 18, 2011, 02:31:13 AM
 #16

I have a 750mh/s rig and I know this is a bad deal.
lemonginger
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June 18, 2011, 02:58:22 AM
 #17

So far everyone got what that wanted. Thanks for a quick and easy setup OP. Will report back in a day or so about what speeds and uptime I am getting.
aceman1011
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June 18, 2011, 01:56:28 PM
 #18

Sounds good.

Rent my 800 + mh/s rig. PM me!
aceman1011
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June 19, 2011, 02:15:18 PM
 #19

Another 300 mh/s rig online within a week. Make an offer if you're interested. 2-4 weeks contracts. They are selling fast, so PM me now!

Rent my 800 + mh/s rig. PM me!
lemonginger
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June 19, 2011, 03:54:24 PM
 #20

I am happy with uptime so far. no problems with OP. would recommend.

aceman, i might be interested in taking on more mhashes, will let you know.
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