Renting 550 mh/s short term contract

[aceman1011]

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.

[Rob P.]

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.

[Sukrim]

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.

 

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

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

[Rob P.]

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

I was just using integers. 

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

[Sukrim]

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!

[aceman1011]

Price adjusted accordingly for dropping price and rising difficulty.

[anatolikostis]

Just for fun 
I have 1.8 Ghash rig - so... anybody for 600 USD 

[Rob P.]

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?

[lemonginger]

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]

$75....

[lemonginger]

sure I will do $75

[Adam]

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.

[aceman1011]

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

[lemonginger]

I think the proper term is a hedge, esp if you are mining with another 3500mh/s

[aceman1011]

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.

[Zeth]

I have a 750mh/s rig and I know this is a bad deal.

[lemonginger]

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]

Sounds good.

[aceman1011]

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!

[lemonginger]

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.