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

[miaviator]

Q: Will the sites fees remain the same?
A: The fee will stay at the current 2% or less and we have no plans to increase it.

So, did you reduce it to 2% or mistype. It's currently 3%, plus .0001 BTC TX fee.

Apparently the fee was raised from 2% to 3% at some point in the past providers who started at 2% remain there currently.  I'll change the QA line.  Perhaps we will make it 2.5%

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[railzand]

Can I mine any Scrypt coin or is it limited to Litecoin?

any scrypt coin you like. and some other algos...

[Test User]

I wish the new owner luck. This comes at the time that I could no longer sustain my mining - even with leaserig prices, I couldn't cover my electricity costs, so my rigs have been sold.

I'd like to close my account and recover my security deposit, what's the best way to do this?

[grippy54]

I've set up a rig on LR and I'm noticing that the reported hash rate on the LR site fluctuates very significantly. It will report very low for a while even though the hash on my rig is staying pretty consistent. One of my renters has commented on it. Any thoughts on what the cause is?

My rig does 1.3mhs on scrypt-n, stable and reliable. I'm using the LRP software.

[djeZo]

Check readme that comes with LRP - advanced cgminer API speed reading section.

[miaviator]

I wish the new owner luck. This comes at the time that I could no longer sustain my mining - even with leaserig prices, I couldn't cover my electricity costs, so my rigs have been sold.

I'd like to close my account and recover my security deposit, what's the best way to do this?

DjeZo is handling security deposits and will be responsible for all outstanding deposits.  PM him.

[grippy54]

Check readme that comes with LRP - advanced cgminer API speed reading section.

Thank you for the VERY fast reply! 

[snipsnoop]

Did I miss some coin launch, what is all those miners rented out for?

[tw0r]

Hi guys,
Im renting my rigs from the begining of this service but now I have some problems.
There is a guy renting my rig. From the first lease I wrote him, there are some problems with the pool settings, but he didnt respond to my email and to sended printscreen either.
Then he leased this rig again and again. It disconnects from his "pool" all the time. But - it shows 0Gh/s many hours now.
Im using LRP on the rig HashWithMe, here is a screen from the lrp service.
Could you help me? What can I do now. I had a short downtime today because of time change, then it shows 0Ghs. Im using latest LRP.
I dont even know, where the problem is - is it my side or his side?



EDIT: I tried to add Eligius pool - its hashing without problems. I gave this person 780minutes extension. Maybe I can remove it again cos its not my fault? Help me guys with it.
Thx

[miaviator]

Hi guys,
Im renting my rigs from the begining of this service but now I have some problems.
There is a guy renting my rig. From the first lease I wrote him, there are some problems with the pool settings, but he didnt respond to my email and to sended printscreen either.
Then he leased this rig again and again. It disconnects from his "pool" all the time. But - it shows 0Gh/s many hours now.
Im using LRP on the rig HashWithMe, here is a screen from the lrp service.
Could you help me? What can I do now. I had a short downtime today because of time change, then it shows 0Ghs. Im using latest LRP.
I dont even know, where the problem is - is it my side or his side?

http://i59.tinypic.com/2q3oqk2.jpg

EDIT: I tried to add Eligius pool - its hashing without problems. I gave this person 780minutes extension. Maybe I can remove it again cos its not my fault? Help me guys with it.
Thx

This looks like a customer pool issue.  Currently I believe it is at the providers discretion if they wish to reimburse renters for downed pools or failure to enter multiple pools.

[tw0r]

Hi guys,
Im renting my rigs from the begining of this service but now I have some problems.
There is a guy renting my rig. From the first lease I wrote him, there are some problems with the pool settings, but he didnt respond to my email and to sended printscreen either.
Then he leased this rig again and again. It disconnects from his "pool" all the time. But - it shows 0Gh/s many hours now.
Im using LRP on the rig HashWithMe, here is a screen from the lrp service.
Could you help me? What can I do now. I had a short downtime today because of time change, then it shows 0Ghs. Im using latest LRP.
I dont even know, where the problem is - is it my side or his side?

http://i59.tinypic.com/2q3oqk2.jpg

EDIT: I tried to add Eligius pool - its hashing without problems. I gave this person 780minutes extension. Maybe I can remove it again cos its not my fault? Help me guys with it.
Thx

This looks like a customer pool issue.  Currently I believe it is at the providers discretion if they wish to reimburse renters for downed pools or failure to enter multiple pools.

But I found the problem now - 13hours later and the renter doesnt respond to my emails. So I dont know what to do better.
Im not going to refund him in this case unless he wrote me or sth.
Im very honest person but in this case, cant do more than write him an email, then send him screenshots and then wait...

[P2Pooler]

I'm really not trying to be a troll here, but have concerns with a couple of the new ownership's statements:

1) "The goal has always been to provide customers leased or hosted hardware for less than their anticipated mining profits.  GPU rigs are often leased for 50-70% of expected revenue to ensure customers ROI.  Our plans for leaserig are no different."

This statement gives me the feeling that the new owner has a bias towards the renter, and also a bias against GPU rigs. Not that there is anything wrong with putting the customer first, but the previous owner seemed neutral. At least I never saw them call out particular type of mining rig should only be rented at X%, or state that the service's main goal was to benefit the renter vs the owner or vice-versa. I like how the market determines the price and am leery of what actions will they take to "ensure" their main goal? Why would I rent my rig for 50% what I could mine with it? It seems in almost all cases it costs more to rent something than to own. Why? From what I have read in other threads, most rig owners expect a premium since they made the hardware investment, provide the space, power, cooling, network, monitoring, etc. I can't imagine many real estate owners taking their capital or a loan to purchase a home, then rent it for less than the mortgage, or less than they could earn in simple interest on the capital. So if I get a sense of the new owners doing anything to manipulate the market, I'm out.

2) "Migrate all unicorn hasher customers to the LeaseRig Platform for management and monitoring."

This statement gives me the feeling that they made this acquisition mainly to provide a ready made front-end for their ASIC datacenters, and therefore this migration will take priority above anything else. Again, not that there is anything wrong with this, it is what I would do too if I had such resources. However, I am leery that they will have much concern for the impact to pre-existing rig owners during and after this migration. This one doesn't concern me as much since my rig is configured for Scrypt-N, but wonder what this will do for the Scrypt market? I was hoping the new owner would be more into what they could do for the site and not what the site was going to do for them. I understand that they do plan to add features, but it all seems to be geared for larger providers and I feel like a small time lessor like myself won't be able to compete.

[escobol]

hello miaviator, could you please provide deadline of old allowip IP adress for cgminer ?

[djeZo]

[miaviator]

hello miaviator, could you please provide deadline of old allowip IP adress for cgminer ?

Yesterday would have been preferred. 

Tomorrow is the deadline.

I haven't changed my rigs over yet for some reason.

[miaviator]

I'm really not trying to be a troll here, but have concerns with a couple of the new ownership's statements:

1) "The goal has always been to provide customers leased or hosted hardware for less than their anticipated mining profits.  GPU rigs are often leased for 50-70% of expected revenue to ensure customers ROI.  Our plans for leaserig are no different."

This statement gives me the feeling that the new owner has a bias towards the renter, and also a bias against GPU rigs. Not that there is anything wrong with putting the customer first, but the previous owner seemed neutral. At least I never saw them call out particular type of mining rig should only be rented at X%, or state that the service's main goal was to benefit the renter vs the owner or vice-versa. I like how the market determines the price and am leery of what actions will they take to "ensure" their main goal? Why would I rent my rig for 50% what I could mine with it? It seems in almost all cases it costs more to rent something than to own. Why? From what I have read in other threads, most rig owners expect a premium since they made the hardware investment, provide the space, power, cooling, network, monitoring, etc. I can't imagine many real estate owners taking their capital or a loan to purchase a home, then rent it for less than the mortgage, or less than they could earn in simple interest on the capital. So if I get a sense of the new owners doing anything to manipulate the market, I'm out.

2) "Migrate all unicorn hasher customers to the LeaseRig Platform for management and monitoring."

This statement gives me the feeling that they made this acquisition mainly to provide a ready made front-end for their ASIC datacenters, and therefore this migration will take priority above anything else. Again, not that there is anything wrong with this, it is what I would do too if I had such resources. However, I am leery that they will have much concern for the impact to pre-existing rig owners during and after this migration. This one doesn't concern me as much since my rig is configured for Scrypt-N, but wonder what this will do for the Scrypt market? I was hoping the new owner would be more into what they could do for the site and not what the site was going to do for them. I understand that they do plan to add features, but it all seems to be geared for larger providers and I feel like a small time lessor like myself won't be able to compete.

I'm going to have to go point by point here:

I wouldn't consider bringing up concerns with an ownership change trolling.  Extremely helpful would be more accurate.  Unless you are trying to troll

"the new owner has a bias towards the renter"
My operation "Unicorn Hasher" is renter focused and always will be.  The pricing algorithm used interestingly enough does not "call out particular type of mining rig should only be rented at X%"  In fact for leases between 1 Hour and 7 Days my prices have always been 110-150% higher than the baseline price.  Renters for these short periods are generally testing out coins or learning about crypto and are actually saving a lot of money by renting short term vs dropping $100s to $1,000s of dollars on equipment just to test or try out a crypto or new coin/pool. 

"and also a bias against GPU rigs"
I've been mining on GPU rigs since 2011 and I have a lot of GPU's running around the US right now.  My actual opinion based on the Bitcoin trend followed by the Scrypt trend is that GPU's are going to be worth way more than SHA or Scrypt ASICS and I've been collecting more GPU's as Scrypt returns fall.  Currently I primarily provide hosting for SHA/Scrypt Asics and build to lease GPU rigs.   

"I like how the market determines the price and am leery of what actions will they take to "ensure" their main goal"
LeaseRig will remain a market determined price.  Again I will clear this up in the OP.  Long term rentals and leases IE 56-180 days should not be priced the same as short term rentals would you agree?

"From what I have read in other threads, most rig owners expect a premium since they made the hardware investment, provide the space, power, cooling, network, monitoring, etc."
This is true for short term rentals anywhere you go from tractors to cars to women/men.  A lot of companies make their money collecting capital up front to reinvest.  IE if I build a rig using spare or recycled parts and purchase only $500 in new GPU's and then turn around and lease that rig for 90 days (at 75% of my anticipated profits) I can turn around and build another rig with the same out of pocket cost of one rig, I got two rigs.   Makes sense?

So you should know that XMK3 has zero leases and DjeZo is not and never was involved in the UH operations.   DjeZo is maintaining a stake in LeaseRig and although he will be moving on to new primary projects his ideals are not being replaced. 

"they made this acquisition mainly to provide a ready made front-end for their ASIC datacenters, and therefore this migration will take priority above anything else."
Half truth.  The reason I announced a merger of all Unicorn Hasher operations into LeaseRig was actually the opposite of what you are saying.   Yes the main reason was to get a ready made front end which allows my team to stop development on the old front-end.  This merger (which is a priority for my side, and of no consequence to the other stakeholders) will free up all of the time I spend managing, selling, pool changing, auditing, etc. etc. etc.  Dealing with a lot of leases basically.  So if I merge my own operations into leaserig I have time to dedicate to leaserig.  Basically the migration is a priority so that unicorn hashers can be automated and lease rig can be my full time priority.

I think I'll just quote this in the OP.

[xmk3]

I'm really not trying to be a troll here, but have concerns with a couple of the new ownership's statements:

1) "The goal has always been to provide customers leased or hosted hardware for less than their anticipated mining profits.  GPU rigs are often leased for 50-70% of expected revenue to ensure customers ROI.  Our plans for leaserig are no different."

This statement gives me the feeling that the new owner has a bias towards the renter, and also a bias against GPU rigs. Not that there is anything wrong with putting the customer first, but the previous owner seemed neutral. At least I never saw them call out particular type of mining rig should only be rented at X%, or state that the service's main goal was to benefit the renter vs the owner or vice-versa. I like how the market determines the price and am leery of what actions will they take to "ensure" their main goal? Why would I rent my rig for 50% what I could mine with it? It seems in almost all cases it costs more to rent something than to own. Why? From what I have read in other threads, most rig owners expect a premium since they made the hardware investment, provide the space, power, cooling, network, monitoring, etc. I can't imagine many real estate owners taking their capital or a loan to purchase a home, then rent it for less than the mortgage, or less than they could earn in simple interest on the capital. So if I get a sense of the new owners doing anything to manipulate the market, I'm out.

2) "Migrate all unicorn hasher customers to the LeaseRig Platform for management and monitoring."

This statement gives me the feeling that they made this acquisition mainly to provide a ready made front-end for their ASIC datacenters, and therefore this migration will take priority above anything else. Again, not that there is anything wrong with this, it is what I would do too if I had such resources. However, I am leery that they will have much concern for the impact to pre-existing rig owners during and after this migration. This one doesn't concern me as much since my rig is configured for Scrypt-N, but wonder what this will do for the Scrypt market? I was hoping the new owner would be more into what they could do for the site and not what the site was going to do for them. I understand that they do plan to add features, but it all seems to be geared for larger providers and I feel like a small time lessor like myself won't be able to compete.

Howdy P2Pooler!

Miaviators' comments made me feel pretty much the same way (I told him so too ).

Personally, as a developer for LeaseRig.net, I can tell you our goal isn't "What can we get out of the site?".

It's a lot more like "What can we do for: the site, the customers, and the providers".  With a lot of "Where can we add value?", and "How can we make this platform more secure and efficient for everyone?" too.

I can without a doubt say that our current priority is completing the transition to a redundant production environment.  Past that point, immediate plans include: improved security, LRP improvements, and new benefits for miners and providers alike.

IMHO the market has enough issues without people manipulating it, so it wouldn't really be in our best interests to pursue those types of activities.  I get a little paranoid too sometimes (well maybe more like most times); but this is one instance where things will all be alright, and then things will gradually become much better.   

[P2Pooler]

Thank you both for taking the time to reply. I feel much better about this, and hope for us all the best of luck and happy mining!

[DarkKnight]

Personally, as a developer for LeaseRig.net, I can tell you our goal isn't "What can we get out of the site?".

It's a lot more like "What can we do for: the site, the customers, and the providers".  With a lot of "Where can we add value?", and "How can we make this platform more secure and efficient for everyone?" too.

Everyone says this at first. Time will bear it out. 

I'm glad someone called out that statement about the GPU rentals. I was thinking it, but didn't want to stir the pot. Mostly, I'm concerned about the intense pressure being put on rental prices when you have 10 providers for 1 renter. There was definitely a race to the bottom as people were pricing below even multi pools for a day or two. The pricing pressure isn't the sole issue either. You've got guys like Hostkey with 35 identical 2 GPU rigs listed, pushing everyone else way down the list. That visibility costs business.

There perhaps should be a better design that tucks additional rigs under each provider name, listing their best prices and their largest rig in the list, until you click on their name to see everything they offer. As it is, the provider-slide that happens because of this is causing a secondary pressure on pricing just so people can stay visible on the first page. Otherwise, it seems to make more sense to me to list (20) 400KH/s rigs, and (20) 765KH/s rigs, and just play the same game. It would be a pain to manage on my end, but it's getting out of hand with the current design.  

As to the 2.5% fee, I would certainly welcome any reduction in fees. not the least of which is the transaction fee that sometimes makes up 1.25% of the total amount I get paid for a rental. Either hold the BTC until it reaches a good threshold, make the renter split it with the provider, or absorb it in the website fees. Betarigs charges less, but they have middleman syndrome and get in between the transactions too much for my taste.

[miaviator]

@DarkKnight

The TX Fees!  I was just discussing how my 300Kh/s rigs rented for a few hours can get a huge % eaten up by TX Fees!  I think we've had this conversation in every planning meeting.  I can say for certain that we will be working to change this.

As for pricing.  I will state publicly that my rigs will always be on the lowest possible price especially if I can automate it.  This will not change with the ownership transfer.  I'll still outprice everyone   Railz who posted above rented 150Gh/s SHA256 for 90 days.  I found a way to upgrade his leased equipment to an ANT miner and upgraded his 150Gh/s lease to a 180Gh/s lease.  I believe he is also holding a scrypt lease which was sold for .0052BTC per Mh/s per day last month (when rates were above .010 on leaserig).  The best part is we both profit more off these leases than if I mined myself or railz bought and maintained his own equipment.

As for provider collapsed listings, that actually does sound like a decent idea.  But only if we implement a provider rating system?  IE # of total leased hours, customer rating (1 to 5 stars) rig reliability %.  So we would display providers sorted by best price (lots of people would cheat and list a tiny 300Kh/s rig at a low low price) then show the rating, overall rented hours and total Mh/s available?   Actually we could prevent cheating by taking an average weighted price in B/Mh/day.   I'll add it to the idea board.