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Author Topic: looking for mining services that rent MH/GH  (Read 879 times)
Eli0t
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May 15, 2013, 02:25:56 AM
 #1

EDIT iv since ruled this option out as i dont have that much to invest

im looking for (legit) services that rent MH/GH to use for BTC or LTC. preferably on a pool of my choosing

if you know of such a service that is defiantly not legit you can list that too

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keatonatron
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May 15, 2013, 02:40:39 AM
 #2

I assume any service like that would be a scam. If the mining is more profitable than the costs to run it, the owner would be smart to just mine for themselves. If it costs more to run than the bitcoins are worth, then I'm sure someone would rent it out to you... but in that case you'd be smart to just buy coins with the money you'd be wasting on mining.

If someone claims to be "generous" or "helping the community" by letting others reap rewards gained from something the owner could easily do themselves (i.e. mining), then it's most likely a scam. No one is that generous. Especially if they already have everything set up and ready to go and are basically selling the coins they mine for less than they are worth.

If it were something you could only do with a large amount of capital, like a mining contract that requires a certain number of people to chip in to buy the equipment and takes a certain number of months to pay out, that would be a different issue. But a miner for rent that's already set up and ready to simply doesn't make sense.


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May 15, 2013, 02:43:46 AM
 #3

I assume any service like that would be a scam. If the mining is more profitable than the costs to run it, the owner would be smart to just mine for themselves. If it costs more to run than the bitcoins are worth, then I'm sure someone would rent it out to you... but in that case you'd be smart to just buy coins with the money you'd be wasting on mining.

If someone claims to be "generous" or "helping the community" by letting others reap rewards gained from something the owner could easily do themselves (i.e. mining), then it's most likely a scam. No one is that generous. Especially if they already have everything set up and ready to go and are basically selling the coins they mine for less than they are worth.

If it were something you could only do with a large amount of capital, like a mining contract that requires a certain number of people to chip in to buy the equipment and takes a certain number of months to pay out, that would be a different issue. But a miner for rent that's already set up and ready to simply doesn't make sense.



Maybe they want cash up front instead of waiting.

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keatonatron
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May 15, 2013, 04:02:33 AM
 #4

Maybe they want cash up front instead of waiting.

That is another option I had thought of, but my post was getting long  Tongue

It could be legit if:

They want USD
(e.g. don't want to deal with exchanging btc and exchange rates, or don't believe in btc but are willing to try to profit from it)

They want you to pay up front for a lot of mining time in advance
(e.g. because they are afraid the price will go down and/or difficulty will go up in the future -- could also be a scammer trying to run away with lots of funds though)

They are not already set up for mining, and just rent out GPU processing power
(e.g. they don't even know what bitcoin is, and you're the one who has the idea of renting for mining!)

Mining United is a service that rents miners for BTC, which means they take your BTC and give you more BTC back a few days later. This is completely illogical and appears to be an obvious ponzi scam (people are already complaining of not being paid). That's one for your "not legit" list  Cheesy

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Eli0t
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May 15, 2013, 03:44:48 PM
 #5

thanks for the input, just thought id explore the option

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May 15, 2013, 03:46:57 PM
 #6

thanks for the input, just thought id explore the option

There are websites which 'claim' to provide this service, but I have yet to find any that has reviews.
It seems everyone stays away from this type of business.

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keatonatron
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May 17, 2013, 07:30:36 AM
 #7

The only thing people would do is rent out general GPU usage, which has been explored before:

https://bitcointalk.org/index.php?topic=36412.0

Although with the current difficulty, it would be even less profitable  Grin

If you really just want to make some coins without paying for them, you could do it this way. But you will end up spending more money than if you just bought them, so I don't really see the point.

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