[ANN] LeaseRig.net Rent & Hire Scrypt(Jane/Nfactor)/SHA3/SHA256/X11 HashPower!

[grippy54]

One of the great things about Leaserig is that it gets out of the transaction and simply connects leasers and rig owners. This enables rig owners to lease their rigs the way they want to, to create a reputation, service their customers, and run their own business. If they suck, that will become known and no one will lease their rigs. They will improve or die. That's the free market, that's awesome!

If Leasrig is going to get in the middle of the transaction, by doling out the money with local payments, and controlling the reputation of the rig owners with some automatic and debatably inaccurate color scheme, then there is no point for rig owners to put so much effort into building a reputation by providing a superior service. At that point, it's no longer a free market of individual business owners, it becomes a commodity exchange.

If we're going down that road, why would I spend so much time monitoring my rigs and checking email and PMs. My customer-focus, drive and determination, and business acumen will be less valuable. If we're going down that road, why would a leaser come here vs some other service? Why would I lease my rigs here when I can join some other service that treats me like a commodity and doesn't ask me to waste my time servicing anyone?

[Monty-Python]

If Leasrig is going to get in the middle of the transaction, by doling out the money with local payments, and controlling the reputation of the rig owners with some automatic and debatably inaccurate color scheme, then there is no point for rig owners to put so much effort into building a reputation by providing a superior service. At that point, it's no longer a free market of individual business owners, it becomes a commodity exchange.

Within the last few hours I checked some rig which were "under performing" on the rigs page. Most of them have a clean 24h average hashrate above their advertised speed and are considered less valuable and get a warning pop-up?!   Of course I found rigs which were "really" under performing with an average hashrate lower than declared speed but I am not going to blame them to be inaccurate as I don't know any details.

My suggestion is, let the customers decide whether they are satisfied with the service or not. Implement a rating system for customers on the leasrig website and disable the current rating system.

[grippy54]

If Leasrig is going to get in the middle of the transaction, by doling out the money with local payments, and controlling the reputation of the rig owners with some automatic and debatably inaccurate color scheme, then there is no point for rig owners to put so much effort into building a reputation by providing a superior service. At that point, it's no longer a free market of individual business owners, it becomes a commodity exchange.

Within the last few hours I checked some rig which were "under performing" on the rigs page. Most of them have a clean 24h average hashrate above their advertised speed and are considered less valuable and get a warning pop-up?!   Of course I found rigs which were "really" under performing with an average hashrate lower than declared speed but I am not going to blame them to be inaccurate as I don't know any details.

My suggestion is, let the customers decide whether they are satisfied with the service or not. Implement a rating system for customers on the leasrig website and disable the current rating system.

+1

[DarkKnight]

That's what I said.   About the formatting.

The survey on the site right now shows that an exchange API is needed to accept multiple currencies while giving providers the ability to select how to receive payments.   Using an API we would not take a fee for the exchange as the actual exchange would have a fee built in.   

Honestly adding the highlighting and warning was not an easy decision as it clutters everything and detracts from the site.   It was only decided after finding that close to or over the 50% of all rigs on the site performed lower on the providers pools than their declared speed.   (Originally we were going to take away declared speed and use a rolling 24 hour average.  This would have made providers rig speeds dependent on customer pools and really would have made bad pools reflect on providers)  The current system is designed to show a more accurate depiction of rated speeds without taking into account bad customer pools. 

At some point, you have to put the burden on the renter to determine if he is getting a good deal or not. Warning them will only go so far. The information was already there to begin with, it just wasn't as obvious. You have made it very obvious at the expense of the general appearance of the website. I completely understand why you did it. I've watched many a provider get paid for hashes they weren't providing and it was frustrating to try to compete against that. They were gaming the system by charging for phantom hashes and could afford a lower lease price as a result. Right now I'm charging for 31 MH/s, but actually hashing between 31.6 -31.83 MH/s. That .60-.83MH/s discount is bigger that some providers rig offerings.

To alleviate payment type headaches, perhaps you should consider something like the 'multipool.us' approach; Allow people to pay in multiple types, but offer people the option to either keep the payment in the coin it was paid in, or Leaserig will convert it to BTC for a small fee and pay it out that way. Since you are pushing the hourly payment approach, that puts you squarely in the middle of the transaction already. In for a satoshi, in for a BTC, right? 

Bolded text please. It kind of sucks having to convert my LTC and DOGE to BTC after a 72hr lease and the prices are no where near where they were before.

Cryptsy provides this service, but also charges me a withdrawal fee. I agree with you in that it would be a massive headache to try to watch hourly prices and exchanges. I'm not terribly fond of the idea at all.

I do this for income, to pay back the loan I took out to purchase the equipment. Until LTC ends up on Coinbase, BTC is unfortunately the only thing I'm genuinely interested in getting paid. The more steps in between that and what my customer wants to pay, the worse it is.

In the end, I'm left wondering why the burden of exchanging coins should be put to the providers? We are priced in BTC, the payments are pegged against their exchange value to BTC, and payments are tracked in BTC equivalent. It seems a lot more straight forward to let customers do their own exchanging to BTC from DOGE/LTC/Whatever and leave it at that. Accepting DOGE has been a headache I don't need, but I do it to stay competitive. I don't like the extra fees, and I don't like all the manual steps needed to get paid. IMHO, Leaserig should have stuck with BTC and left it alone.

[hutnik]

Everything under 0.02 is rented :-O

What's happening??

[Monty-Python]

I don't care - just enjoying the rare moment that my GPU-rig is making real profit again. 

Enjoy it as long as it lasts.

[Blaater]

I don't care - just enjoying the rare moment that my GPU-rig is making real profit again. 

Enjoy it as long as it lasts.

Same here.. Actually took effort in getting my gridseeds on my raspberry pi working with leaserig. Took me 20 minutes, but it is working now another 3.1 MH/s available for rent from me =]

[byt411]

I suggest all of us providers to keep our prices above 0.008BTC/MHs/Day, it's good for all of us.

[zneww]

Yeah this is nice.

[Blaater]

I suggest all of us providers to keep our prices above 0.008BTC/MHs/Day, it's good for all of us.

http://www.clevermining.com/profits/24-hours

If I can rent for 0.08 I would at the moment... Clevermining is giving over 0.08 and that is a major pool. There are enough coins that are even more profitable then clevermining is mining if you look for them.

Prices are high at the moment, cause the revenues are high at the moment.

[byt411]

I suggest all of us providers to keep our prices above 0.008BTC/MHs/Day, it's good for all of us.

http://www.clevermining.com/profits/24-hours

If I can rent for 0.08 I would at the moment... Clevermining is giving over 0.08 and that is a major pool. There are enough coins that are even more profitable then clevermining is mining if you look for them.

Prices are high at the moment, cause the revenues are high at the moment.

Yeah, I know, but the price on leaserig should always be above the multipool ones.
And if we all keep our prices up, the customers still have to rent rigs, so we still earn.

[Monty-Python]

I suggest all of us providers to keep our prices above 0.008BTC/MHs/Day, it's good for all of us.

http://www.clevermining.com/profits/24-hours

If I can rent for 0.08 I would at the moment... Clevermining is giving over 0.08 and that is a major pool. There are enough coins that are even more profitable then clevermining is mining if you look for them.

Prices are high at the moment, cause the revenues are high at the moment.

Yeah, I know, but the price on leaserig should always be above the multipool ones.
And if we all keep our prices up, the customers still have to rent rigs, so we still earn.

Won't work though. As good as it sounds there are more webistes which offer rigs for lease/rent. Leaserig is not the only one in a very competitive market. If Leaserig is too expensive, customers go, look and find rigs somewhere else. PLUS: everyone, and I do mean everyone including myself, wants to make maximum profit and wants to make it as quick as possible. So - in the end - it is a nice goal but it won't work...

[zneww]

Scrypt mining rigs: 16 / 271

I suggest all of us providers to keep our prices above 0.008BTC/MHs/Day, it's good for all of us.

http://www.clevermining.com/profits/24-hours

If I can rent for 0.08 I would at the moment... Clevermining is giving over 0.08 and that is a major pool. There are enough coins that are even more profitable then clevermining is mining if you look for them.

Prices are high at the moment, cause the revenues are high at the moment.

Yeah, I know, but the price on leaserig should always be above the multipool ones.
And if we all keep our prices up, the customers still have to rent rigs, so we still earn.

Won't work though. As good as it sounds there are more webistes which offer rigs for lease/rent. Leaserig is not the only one in a very competitive market. If Leaserig is too expensive, customers go, look and find rigs somewhere else. PLUS: everyone, and I do mean everyone including myself, wants to make maximum profit and wants to make it as quick as possible. So - in the end - it is a nice goal but it won't work...

Seems to be working....

[byt411]

I suggest all of us providers to keep our prices above 0.008BTC/MHs/Day, it's good for all of us.

http://www.clevermining.com/profits/24-hours

If I can rent for 0.08 I would at the moment... Clevermining is giving over 0.08 and that is a major pool. There are enough coins that are even more profitable then clevermining is mining if you look for them.

Prices are high at the moment, cause the revenues are high at the moment.

Yeah, I know, but the price on leaserig should always be above the multipool ones.
And if we all keep our prices up, the customers still have to rent rigs, so we still earn.

Won't work though. As good as it sounds there are more webistes which offer rigs for lease/rent. Leaserig is not the only one in a very competitive market. If Leaserig is too expensive, customers go, look and find rigs somewhere else. PLUS: everyone, and I do mean everyone including myself, wants to make maximum profit and wants to make it as quick as possible. So - in the end - it is a nice goal but it won't work...

It will work. The only other competitor is BetaRigs, whose layout and system is complete crap, and does not offer as many features as leaserig.

[Monty-Python]

Future will tell. Anyway consider me in...

[byt411]

Future will tell. Anyway consider me in...

We need to make a ToLMRO.
Treaty of Leasing Mining Rigs Online.

[grippy54]

And if we all keep our prices up, the customers still have to rent rigs, so we still earn.

The market will ALWAYS drive the price to the actual value provided to the customer. It's simple economics.

There is NO way to successfully price fix unless there is a single supplier or a very small group of people colluding. It's anti-competitive, anti-consumer, pro-big business, and pro-establishment. I think it's against everything crypto currencies stand for.

[grippy54]

It will work. The only other competitor is BetaRigs, whose layout and system is complete crap, and does not offer as many features as leaserig.

What? The competition is just getting ramped up. What about NiceHash? They have a different approach which some folks may like. If you think price-fixing is a good idea, you're no different than any other big-establishment person who colludes with other corporate bullies to rape consumers. I want nothing to do with it.

Consumers drove the price up to where it is right now, not rig owners. If they feel they are getting value from our rigs, they will continue to rent from us at the level where they get value. If you want to compel people to buy your product at your dictated price, get a job in banking or in the government.

This is the opposite of what crypto currencies are all about.

[flippo]

Don't get greedy guys. Price is as it should be always driven by the market.

[byt411]

It will work. The only other competitor is BetaRigs, whose layout and system is complete crap, and does not offer as many features as leaserig.

What? The competition is just getting ramped up. What about NiceHash? They have a different approach which some folks may like. If you think price-fixing is a good idea, you're no different than any other big-establishment person who colludes with other corporate bullies to rape consumers. I want nothing to do with it.

Consumers drove the price up to where it is right now, not rig owners. If they feel they are getting value from our rigs, they will continue to rent from us at the level where they get value. If you want to compel people to buy your product at your dictated price, get a job in banking or in the government.

This is the opposite of what crypto currencies are all about.

I am not trying to get all the money out of my renters.
You know, we are not leasing out rigs for people to rent and hash at multipools, it's supposed to be for hashing at pools with promotions or coins they see a future in.
If we all just compete with each other for prices, we will all end up earning nothing, just covering electricity costs.