Cheapest Service for renting mining/hashing power

[MaxLAMF]

Hi fellow miners,

I lost track of all those services like byteminr, even BFl offers now too renting mining power. There are so many out there.
Is anyone here up to date which are some of the cheapest and of course reliable, honest services?


Thanks a lot in advance and regards!

[1714643548]

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[1714643548]

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[1714643548]

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[DeathAndTaxes]

None.

If you had a rig which would produce X BTC per day (after operating costs) why would rent it for less than x BTC per day?

Why not just run the rig and collect X BTC?

[byteminr]

None.

If you had a rig which would produce X BTC per day (after operating costs) why would rent it for less than x BTC per day?

Why not just run the rig and collect X BTC?

Well our motives are simple. We share the risk and share the rewards. We could not buy 100TH of our own equipment to mine. (don't have the $$), By sharing the cost with customers we can share the economies of scale (in purchasing electricity&asics), provide a good service for our customers and share in the rewards with then. We also cover some of our risks by taking payment in USD - which mainly amount to downsides of the BTC/USD price.

With our model, everyone wins. If you are very rich, you can buy you own 100Th mine and get on with it. Not many of us have that kind of luxury!


Adrian
www.byteminr.com

[DeathAndTaxes]

So you already have purchased 100 TH/s?  Of course not that is just a lie.  Thus you don't have economies of scale.   Even if you did by offering pricing at $20/GH (for one year) you certainly aren't sharing those "economies of scale" with your clients suckers.

[MaxLAMF]

huh? what went wrong here...

In this moment I don´t wanna invest thousands of Dollars as it seems that dozens of ASIC producers start to come out all of a sudden and after BFL let´s me wait for 6 months (never thought it would take so long...just money I flushed down the toilet.big mistake to buy on the 5.6. without any piece of information about the order queue) and I´ve sold my USB block erupters.
Further with those many ASIC´s I think it´s quite risky and unexpectable how the total hashrate/difficulty will increase in the next few months.
Therefore right now I´d rather rent some power for about half an year and will see how the situation is, which new miners are out, difficulty, etc.  and decide if it´s more profitable too rent or buy hashing equipment.

As search engines don´t spit out too much. Would anyone may help and mention which services are out there besides byteminr.com, (soon arghhh...) BFL , and in the bitcoin wiki mentioned bitcoinfrenzy.com, e-pickaxe.com, pyramining, minerlease.com and extremely expensive cloudhashing.com.

Is there another service which has over 50GH, rather 100 GH+ to rent available for about 100$/GH a year as this even cheaper than most contractors offer (but I have to calculate those numbers as well if I even could earn anything with such an expense)? Right now byteminr seems the cheapest but is already sold out of miners and then sadly BFL with 10,83 $/GH. But same old questions again when is BFl starting? At the moment this price of 10,83/GH a year is absolutely unbeatable because some, i.e. bitcoinfrenzy charge 40$/GH or even more. And what about BFL´s order queue again? Already too late to pre-order?

Or is there any other tip to make money with bitcoins/earn bitcoins by investing somewhere/into something as everything considering the increasing difficulty seems, as said, quite unpredictable?
I wanna be part of the game but am quite clueless what to do in these months. With just Cointerra planning to add 2 Petahashes by December according to http://bitcoinmagazine.com/6564/cointerra-planning-to-release-2-petahashes-of-mining-power-by-december.

Thanks a lot in advance for any piece of advice!

[DeathAndTaxes]

$10 per GH/s at this point has no chance of ever even coming within a ballpark of breaking even.
There are preorder options a low lower than that and it remain to be seen if they will break even.

As for renting?  Nobody is going to rent you a rig for less than what it can make.  If you owned a machine which printed an authentic $100 bill each day would you rent it to me for $50 a day?

So your options are
a) get ripped off "renting" hashing power at 400% over what it can possibly make.  There are plenty of places that do that cex, cloudhashing.
b) pre-order and hope your rig arrives and you can beat difficulty, sooner and cheaper is better than later and more expensive.  It is a risk and there will be winners and losers.
c) wait and accept that the risk will be lower in the future but the potential rewards will also be lower. 

[Viperbass]

$10 per GH/s at this point has no chance of ever even coming within a ballpark of breaking even.
There are preorder options a low lower than that and it remain to be seen if they will break even.

As for renting?  Nobody is going to rent you a rig for less than what it can make.  If you owned a machine which printed an authentic $100 bill each day would you rent it to me for $50 a day?

So your options are
a) get ripped off "renting" hashing power at 400% of what it can possibly make.  There are plenty of places that do that cex, cloudhashing.
b) pre-order and hope your rig arrives and you can beat difficulty.
c) wait.

If cointerra and hashfast get there orders done then yeah a) will definitely apply as we will get 30% + increases everytime. I have worked out in 7 months from now 10GH/s today will be worth 0.1 GH/s
The winners will be the holder of coins as prices go up.

[MaxLAMF]

yeah I suppose both of you are right.
Even with 100GH for 11$ it´s almost impossible to make any profit, maybe just break even if I would directly get them and not make a goddamn pre-order at our beloved BFL friends

But what are all you others doing to make money with BTC as mining is unpredictable and unprofitable. Or still invest tens of thousands Dollars for Equipment, best would be directly for minimum a million Dollars but who has the money for such investments???
Just buying coins and hope they will be worth more in the future? Seems to be almost the most rational thing at the moment.

[Hfleer]

So your options are
a) get ripped off "renting" hashing power at 400% over what it can possibly make.  There are plenty of places that do that cex, cloudhashing.
b) pre-order and hope your rig arrives and you can beat difficulty, sooner and cheaper is better than later and more expensive.  It is a risk and there will be winners and losers.
c) wait and accept that the risk will be lower in the future but the potential rewards will also be lower. 

Unfortunately the going rate does seem to be around that high(400%) with some of the services.  I think that does create some nice room for competition, say a budget priced renting service that still makes themselves a decent amount but doesn't price gouge.  The only problem is if too many are willing to pay really high rates.

[byteminr]

So you already have purchased 100 TH/s?  Of course not that is just a lie.  Thus you don't have economies of scale.   Even if you did by offering pricing at $20/GH (for one year) you certainly aren't sharing those "economies of scale" with your clients suckers.

I'm not sure where that aggression came from, I usually like your posts a lot.

The vast majority of our our customers are extremely happy with the service and most are new to bitcoin, we are doing everything we can to expand the userbase of bitcoin and widen its appeal.

We have some extremely innovative services planned for the near future that will demonstrate that our motives are indeed to share in the benefits of bitcoin mining with all our customers.

In terms of our mine, you are correct we are not (yet) at 100TH but it will be far in excess of that as we continue to scale in the coming weeks and months.

Will you be at the conference in Las Vagas? - I'd be happy to meet you in person.

Adrian

[sherrizahir]

If you have any query or problems related power rental equipments and load bank rentals then visit our website link :- http://www.crestchic.com


 

[Tstar]

you should have a look at pbmining.com
they are honest guys offering hash power for cheap price(sha256 only)

[BentleyBirch]

it's hard to find a reliable and honest service, you have to take some risks for a cheap.

[thomaskstack]

Hi fellow miners,

I lost track of all those services like byteminr, even BFl offers now too renting mining power. There are so many out there.
Is anyone here up to date which are some of the cheapest and of course reliable, honest services?


Thanks a lot in advance and regards!

this is great!!! If you already did get and purchase then try running the collect X BTC or  rig see what you can get...hope you get what your lookign for....love reading all of the replies...