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TheP3aceguy
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July 07, 2017, 07:31:30 PM
 #1

Hello,

so I thought abit about renting a mining-rig online. For this I went on miningrigrentals-com. Then I searched for some rigs and calculated a bit.
But everytime I calculated, I found out, that I would only lose money. For example: I could rent a Rig for 196$ / 24h. But with the given Hashrate, I would only return 134$ in BTC.

I think I just didnt find the right rights, because I dont think that you would just lose money all the time.


Could you help me a bit?
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freeyourmind
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July 08, 2017, 02:35:16 AM
 #2

Was it a Bitcoin mining rig (ASIC) that you were looking to rent?

If your calculations are right, I don't think anyone would be looking to purchasing hashing power at that rate.  Eventually the rate should come down, as the rig would be sitting idle, unless it's working when not being rented.
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July 08, 2017, 08:40:55 AM
 #3

These purchases re good only if u plan to speculate on crypto price. Even then, you might end up being better purchasing coins in the first place.
Also, you have to ask yourself why would a rig owner sell you their hash at a price lower then what he can mine per day.

So, you ve got option to build your own rig or to go with classic cloud mining. Both of which re big time risky.

I personally choose DMD Diamond and its cloud, it has brought me nothing but profits.
Here is the link: https://bitcointalk.org/index.php?topic=1931773.0

Let me know if you need any help with this.

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July 08, 2017, 12:20:50 PM
 #4

Hello,

so I thought abit about renting a mining-rig online. For this I went on miningrigrentals-com. Then I searched for some rigs and calculated a bit.
But everytime I calculated, I found out, that I would only lose money. For example: I could rent a Rig for 196$ / 24h. But with the given Hashrate, I would only return 134$ in BTC.

I think I just didnt find the right rights, because I dont think that you would just lose money all the time.


Could you help me a bit?

Good you did your own research before jumping into an investment. Yes, considering the hashrate as of now, it is hardly convincible to be making any profits at all for small investors, albeit highly profitable for the websites selling them though Smiley
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July 08, 2017, 12:23:59 PM
 #5

Hello,

so I thought abit about renting a mining-rig online. For this I went on miningrigrentals-com. Then I searched for some rigs and calculated a bit.
But everytime I calculated, I found out, that I would only lose money. For example: I could rent a Rig for 196$ / 24h. But with the given Hashrate, I would only return 134$ in BTC.

I think I just didnt find the right rights, because I dont think that you would just lose money all the time.


Could you help me a bit?

you do the right research and the result is you can not make money with renting a rig. i have this experience in the past and since i can not make money even with big money, i am quit from that place and not trying to renting again. my advice is stay away from the rig website and its better for you to buy some hardware and trying to mining by yourself or you can trying to renting your hardware in that website. its not profitable if you renting a rig and you are just waste your money for nothing.
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July 08, 2017, 12:42:11 PM
 #6

Not a good idea renting a rig its not really profitable any time you can be scam if you invest in not well known site..
The better is to save your money and build slowly your own mining rig that i think it can mine you a good altcoin if you found the best altcoin to hold for a long time or profitable to mine.
If you are just invest it in other business your money is in risk..


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July 08, 2017, 05:03:47 PM
 #7

But everytime I calculated, I found out, that I would only lose money. For example: I could rent a Rig for 196$ / 24h. But with the given Hashrate, I would only return 134$ in BTC.
Which coin you are trying to mine? If it is bitcoin than yes you will only loss if you rent rigs there because all those rigs were listed by their owner to make more money than they can make by mining themselves.

Miningrigrentals is good place to rent rigs to mine quite new coins in early stage to make nice profit if they get listed.

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July 08, 2017, 05:21:32 PM
 #8

Rent a RIG isn't profitable if you plan to sell your coin immediately, it's only worth if you rent as soon as certain altcoin price got pumped or you think certain altcoin price will rise in future.
Also, i think buy your own RIG and mine popular coin such as ETH/ZEC is more profitable since the trend is still on-going and you still can sell the used GPU when it's no longer profitable or you decide to change to better coins.

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July 08, 2017, 06:38:10 PM
 #9

If you want to make profit with bitcoin mining than you should use your own mining hardware and you have to be in place where electricity is either free or very cheap like some states of china.

All those rigs available for rent in nicehash or miningrigrentals are priced way higher than what you could earn with them.

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July 09, 2017, 06:25:31 AM
 #10


Does that really profitable to rent a rig? So with rent rate of $196 per day you get a limited hash rate. If you can pay that much amount per day then why don’t you buy complete set of miners for yourself. The miners with good hash rate can be bought at $2500. With the rent of $196 per day you can buy 3 mining rigs each month. You can rent them yourself to others and earn even more. LOlz. Why getting into so much trouble?





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July 09, 2017, 06:37:45 AM
 #11

These purchases re good only if u plan to speculate on crypto price. Even then, you might end up being better purchasing coins in the first place.
Also, you have to ask yourself why would a rig owner sell you their hash at a price lower then what he can mine per day.

So, you ve got option to build your own rig or to go with classic cloud mining. Both of which re big time risky.

I personally choose DMD Diamond and its cloud, it has brought me nothing but profits.
Here is the link: https://bitcointalk.org/index.php?topic=1931773.0

Let me know if you need any help with this.

   I check out your thread, to be honest I have seen just what you wrote and that is very interesting for me. All the ways for earning DMD sounds
quite nice, and I would like to try something with some small investments ( I need to be honest I plan to buy BetKing stakes when sales start, and I would like to buy as much as I can ).
   I did not register on any exchange site, you mentioned bittrex.com maybe I can register there and buy 10-20 DMD for beginning ( I saw that price is around 0.001 BTC at the moment and download a DMD wallet. Cloud mining also sounds interesting, what is your suggestion is it better to start with cloud mining or buying and keeping DMD in the wallet?

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July 09, 2017, 09:55:02 AM
 #12


With your calculations and readings I don’t think it is much profitable. You can buy it yourself and make more profits than these rigs. Because you renting the rigs and not the electricity and maintenance charges isn’t it? Better do it yourself man that will help you push a lot as it will your own rig. And im sure there will more charges such as damage insurance and stuff? Wont that be more costly than base price?



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