[ANN] LEASERIG.NET - rent&hire Quark hashing power!

[djeZo]

Updated first post. I am looking for few mining rig providers to add them up You get payments directly in your BTC wallet!

[miaviator]

Where does the money come from? Why wouldn't I just mine instead of leasing? If someone thinks they can make x dollars using my hashpower, why wouldn't I just mine instead of letting someone else use it and only getting a fraction of the profits...

you lease your rig out for more than the most profitable coin. people are willing to pay.

We lease 1/2 of our rigs as a sort of insurance policy.  I always hope the leasers make more than we would have made with the leased mining power and that is the goal.  I've walked several people through the different scrypt coins and multi pools to try and achieve the best profit.  The goal is that if rigs are leased out to others then they will bear a portion of the risk (about 40% in this case) so we can plan upgrades and new equipment.  Additionally when you plan correctly you can lease out say 5-10 rigs and purchase a new rig.  Since leasers pay upfront you can purchase the new rig 1 week earlier than if you mined with the rig yourself.

A lot of people are chasing after quick profits from leasing.  At some point customer will stop leasing if you don't truly try and make profit for your leasers.

Just my 2 satoshis.

I've actually started putting buy it now prices in auctions and I plan to change the BIN price to whatever middle-coin or multi-coin would be expected to payout in order to prevent leasers from paying more than I would be expected to make.

[miaviator]

Where does the money come from? Why wouldn't I just mine instead of leasing? If someone thinks they can make x dollars using my hashpower, why wouldn't I just mine instead of letting someone else use it and only getting a fraction of the profits...

you lease your rig out for more than the most profitable coin. people are willing to pay.

We lease 1/2 of our rigs as a sort of insurance policy.  I always hope the leasers make more than we would have made with the leased mining power and that is the goal.  I've walked several people through the different scrypt coins and multi pools to try and achieve the best profit.  The goal is that if rigs are leased out to others then they will bear a portion of the risk (about 40% in this case) so we can plan upgrades and new equipment.  Additionally when you plan correctly you can lease out say 5-10 rigs and purchase a new rig.  Since leasers pay upfront you can purchase the new rig 1 week earlier than if you mined with the rig yourself.

A lot of people are chasing after quick profits from leasing.  At some point customer will stop leasing if you don't truly try and make profit for your leasers.

Just my 2 satoshis.

I've actually started putting buy it now prices in auctions and I plan to change the BIN price to whatever middle-coin or multi-coin would be expected to payout in order to prevent leasers from paying more than I would be expected to make.

2 more satoshis.

Power/space/cooling are a huge issue for a lot of people.  If you have cheap (*free) power/hosting/network/maintenance/supporting hardware) leasing out rigs is almost entirely profit for the Provider and can be more profitable to the Renter since they don't have to finance rigs and pay power/cooling etc.

[djeZo]

All owners of mining rigs who wants to rent out your rigs, don't be shy and contact me. I will provide some more detailed instructions on what has to be done and provided to get hooked up in the system.

[ocean59]

I'm giving them a spin, and both workers are working flawlessly so far after an hour. Would be nice if there was a 24 hour option.

[djeZo]

I am already under attack. LOL @ hacker newb who is bruteforcing me. You better go bruteforce some newb exchanges. You are just wasting your time and resources here. Even if you could get inside (which you won't), max. you could possibly steal is somewhere around 20 or 30$ worth of BTC. Is this really worth your time???  Even hackers are so fucking stupid that I cannot believe it haha.

To all people that sent me PMs. I will reply to them soon.

[BitCoinPokerBro]

This could be awesome, but I'm not playing $800 for 1 hour of mining @ those rates

[djeZo]

Sorry about the faulty picture. These were taken when I was testing. New live rates are way better 

[djeZo]

To provide your mining rig: https://bitcointalk.org/index.php?topic=417092

[rmindel]

If you would like to provide your mining rig, please contact me in PM and specify for each rig:
- Name (alphanumeric)
- Admin password (alphanumeric)
- IP and port for cgminer
- Declared speed of the rig
- Renting plans for rig (hours of renting and prices for each plan)
- Your bitcoin RPC address (hostname/IP + username + password)

why do you take bitcoin RPC ?
i read you send the BTCs that way, why not just send it regularly and take a BTC Address to send it to?

[rmindel]

Another question -
do you take full control over the cgminer in the rig or just switch pools?
(or have the ability to do so using the "--api-listen --api-allow W:89.212.242.33 --api-port 7777" ?)

wouldn't want anyone dealing with my cgminer config (besides changing the pool ofc )

[djeZo]

Yes, just read API-README.txt in cgminer folder. There are instructions on how to limit access to specific commands only.

BTC RPC is needed so leaserig.net can detect when payment is received. Otherwise, manual job is needed on approving payments. Like I said, you should provide NEW BTC client, that starts with 0.0 balance and regularly withdraw money from that wallet.

[sameev29]

Would anyone like to pay $200,$150 or $120 per month to rent a 280X giving minimum 700khash and upto 728khash?

[rmindel]

Yes, just read API-README.txt in cgminer folder. There are instructions on how to limit access to specific commands only.

Thank you, went over it a little bit,
I think you should add what commands you need  - or just add them in the tutorial along with the --api-listen
example -
--api-groups P:switchpool,more_commands_you_need_privilege_to --api-listen --api-allow P:89.212.242.33 --api-port 7777

BTC RPC is needed so leaserig.net can detect when payment is received. Otherwise, manual job is needed on approving payments. Like I said, you should provide NEW BTC client, that starts with 0.0 balance and regularly withdraw money from that wallet.

Giving control over a wallet seems fishy, i would not just trust someone with that even if the wallet is empty - what's keeping you if the business crashes to take back what ever BTC is in all of your users' wallets?

I really like the idea, and i would rather you just sending auto payouts to an address like all other btc sites do.
I have 3 M/h machine i want to add and another 2M/h coming soon

quick edit : plus - would you add the option of workers so i can put all my small machines as one? (1M/h , 300K/h, 750 K/h)

[djeZo]

Yes, just read API-README.txt in cgminer folder. There are instructions on how to limit access to specific commands only.

Thank you, went over it a little bit,
I think you should add what commands you need  - or just add them in the tutorial along with the --api-listen
example -
--api-groups P:switchpool,more_commands_you_need_privilege_to --api-listen --api-allow P:89.212.242.33 --api-port 7777

BTC RPC is needed so leaserig.net can detect when payment is received. Otherwise, manual job is needed on approving payments. Like I said, you should provide NEW BTC client, that starts with 0.0 balance and regularly withdraw money from that wallet.

Giving control over a wallet seems fishy, i would not just trust someone with that even if the wallet is empty - what's keeping you if the business crashes to take back what ever BTC is in all of your users' wallets?

I really like the idea, and i would rather you just sending auto payouts to an address like all other btc sites do.
I have 3 M/h machine i want to add and another 2M/h coming soon

quick edit : plus - would you add the option of workers so i can put all my small machines as one? (1M/h , 300K/h, 750 K/h)

Check this first: https://bitcointalk.org/index.php?topic=417092 and post there regarding HOW-TO configure all for being able for rent.

If the business crashes I could simply not do any auto payments at all. It is kinda the same, in both cases mining rig providers have to trust me, but with this method, they get payment much sooner (else, for each BTC payment there is waiting to get fully confirmed on my wallet). Now you get pending payment in YOUR wallet the exact same moment customer pays for service. The only drawback of this method is that you need to establish another BTC client and wallet. Ultimately, this method will be deprecated, but there is more work I need to do to implement all auto payout methods.

Each mining rig is linked to single cgminer instance. If you can hook more miners inside single cgminer (eg. more video cards in single cgminer), then they are all visible as single mining rig on website. Otherwise, there are multiple rigs. Keep in mind that there aren't many pools around to support multiple workers with same name, so at the end, you have to configure each cgminer instance to use different username thus having different access pages to mining rigs.

[miaviator]

Why exactly don't you just have the buyer/leaser pay directly to the rig owner?

You could take a deposit (directly or via escrow) from rig owners to cover any scams if you are not vetting the rig owners.

I would think that would remove the trust/distrust issue?

[djeZo]

Why exactly don't you just have the buyer/leaser pay directly to the rig owner?

This is exactly how I have it setup now. Buyer pays directly to the rig owner.

[miaviator]

Why exactly don't you just have the buyer/leaser pay directly to the rig owner?

This is exactly how I have it setup now. Buyer pays directly to the rig owner.

I should learn to read.

Yes, just read API-README.txt in cgminer folder. There are instructions on how to limit access to specific commands only.

Thank you, went over it a little bit,
I think you should add what commands you need  - or just add them in the tutorial along with the --api-listen
example -
--api-groups P:switchpool,more_commands_you_need_privilege_to --api-listen --api-allow P:89.212.242.33 --api-port 7777

BTC RPC is needed so leaserig.net can detect when payment is received. Otherwise, manual job is needed on approving payments. Like I said, you should provide NEW BTC client, that starts with 0.0 balance and regularly withdraw money from that wallet.

Giving control over a wallet seems fishy, i would not just trust someone with that even if the wallet is empty - what's keeping you if the business crashes to take back what ever BTC is in all of your users' wallets?

I really like the idea, and i would rather you just sending auto payouts to an address like all other btc sites do.
I have 3 M/h machine i want to add and another 2M/h coming soon

quick edit : plus - would you add the option of workers so i can put all my small machines as one? (1M/h , 300K/h, 750 K/h)

Check this first: https://bitcointalk.org/index.php?topic=417092 and post there regarding HOW-TO configure all for being able for rent.

If the business crashes I could simply not do any auto payments at all. It is kinda the same, in both cases mining rig providers have to trust me, but with this method, they get payment much sooner (else, for each BTC payment there is waiting to get fully confirmed on my wallet). Now you get pending payment in YOUR wallet the exact same moment customer pays for service. The only drawback of this method is that you need to establish another BTC client and wallet. Ultimately, this method will be deprecated, but there is more work I need to do to implement all auto payout methods.

Each mining rig is linked to single cgminer instance. If you can hook more miners inside single cgminer (eg. more video cards in single cgminer), then they are all visible as single mining rig on website. Otherwise, there are multiple rigs. Keep in mind that there aren't many pools around to support multiple workers with same name, so at the end, you have to configure each cgminer instance to use different username thus having different access pages to mining rigs.

Isn't there a way to use blockchain.info or coinbase callbacks to make this all happen without accessing BTC RPC on the rigs?

I'm not willing to poke a hole inbound or outbound in the firewalls covering my rigs.

[djeZo]

Easy suggestions are welcomed of course. Is there an easy API for searching around btc blockchain?

Fixed few bugs and updated admin panel with:
- ability to change miner rigs IP and port (cgminer API)
- ability to add/remove renting plans

[miaviator]

Easy suggestions are welcomed of course. Is there an easy API for searching around btc blockchain?

Fixed few bugs and updated admin panel with:
- ability to change miner rigs IP and port (cgminer API)
- ability to add/remove renting plans

https://blockchain.info/api/api_receive

https://blockchain.info/q