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

[suchmoon]

I've got a client who rented my Scrypt rig 30 minutes ago. I just checked it, he has it connected to a Scrypt-Jane pool, and so is getting 100% rejects. I've sent him 2 emails, and am not getting a response.

Other providers: Any thoughts on what should I do?

I would just refund and move on. If the customer responds you can work it out later, e.g. offer a discounted rental, if the intent was indeed Scrypt.

[DarkKnight]

He finally got back in touch with me almost 3 hours into the lease. He of course asked for a refund, and blamed my miners 'going offline' for his poor pool settings. I wish the graph would indicate the difference between dead pool time vs rig disconnects. Clients put in the wrong worker name or password, and the equipment gets blamed for the downtime. I pro-rated his refund 50% based on what I was paid. Refunds should be processed through leaserig, so at least he gets the 3% back on the refunded portion.

I feel bad for him, but I run these to make money, not as a charity service. He didn't know what he was doing and wasn't watching his email or the pool. That's not my fault, and I can't see me paying for it. I rented a tool from Sunbelt last week. Paid $40 for it for the day. If I was using it incorrectly and didn't get the job done, that's not their fault, and they wouldn't give me even a partial refund. 

[botolo86]

Because you believe a coin will rise in value, or because the pool has a 2x promotion, like ghash did a while ago.

I see! Thanks a lot for your answer!

[miaviator]

Can you please help me understand...if the price I get on leaserig is always going to be higher than the amount of coins I can mine with the leased equipment, why should I lease?

If the price you get on leaserig is higher than the amount of coins you can mine with leased equipment you shouldn't lease.

I do want to point out two things: The reason you see higher prices on leaserig is the reliability of the system and providers as well as the quick purchase and rehiring of lower priced miners.  IE if I lease a rig at .005B/mh/day it will likely never come up on the page if offer a 10% rehire discount.  They will likely just stay leased to the same person.

Most of our renters (Except leaserig staff who rent to test our providers and system) make more than they pay renting rigs and continue to rent because of this.

I think you will find the upcoming expansions to leaserigs will make it a far more valuable tool than anything else out there.

[miaviator]

I've got a client who rented my Scrypt rig 30 minutes ago. I just checked it, he has it connected to a Scrypt-Jane pool, and so is getting 100% rejects. I've sent him 2 emails, and am not getting a response.

Other providers: Any thoughts on what should I do?

I've temporarily connected him to a multipool with his BTC refund address as the payout address, so at least he isn't just wasting his hashes. 

You should file a feature request or bug report in the helpdesk and specify that leases should be cancelled if a leasee tries to mine to a known incompatible pool.

[XScrypt]

Can you please help me understand...if the price I get on leaserig is always going to be higher than the amount of coins I can mine with the leased equipment, why should I lease?

If the price you get on leaserig is higher than the amount of coins you can mine with leased equipment you shouldn't lease.

I do want to point out two things: The reason you see higher prices on leaserig is the reliability of the system and providers as well as the quick purchase and rehiring of lower priced miners.  IE if I lease a rig at .005B/mh/day it will likely never come up on the page if offer a 10% rehire discount.  They will likely just stay leased to the same person.

Most of our renters (Except leaserig staff who rent to test our providers and system) make more than they pay renting rigs and continue to rent because of this.

I think you will find the upcoming expansions to leaserigs will make it a far more valuable tool than anything else out there.

You're right. If the price were .005 then renters could make a small profit.

However, the stats page would lead me to seriously question the "most of our renters make money" claim. For example, today the trailing average all day has been hovering around .007 BTC/Mhs/day while the most profitable coins have been around .006 with a top ten average around the mid .005's. Adding in leasing fees and such make the gap bigger. Then there's the pool fees, withdrawal fees, etc. on top of that. The only way for a renter to profit would be to "mine and hold" hoping for the coin value to increase. But honestly, if that's their intention then buying the coins instead of mining them would be much more profitable since they wouldn't be sacrificing up to a third of their capital before getting their coins.

Don't get me wrong. I like the concept of renting rigs. I think it provides a much needed service. But so far I haven't seen any prices for leasing a rig that would profitable to the renter. Maybe I'm just catching the stats page at the wrong times of the day or something.

[kalus]

just added a rig to the list, and it's working hard already!

how do i add additional rigs to the admin cpanel?  can i add hardware to a rig while it is being rented?

[mpdas108]

Can you please help me understand...if the price I get on leaserig is always going to be higher than the amount of coins I can mine with the leased equipment, why should I lease?

If the price you get on leaserig is higher than the amount of coins you can mine with leased equipment you shouldn't lease.

I do want to point out two things: The reason you see higher prices on leaserig is the reliability of the system and providers as well as the quick purchase and rehiring of lower priced miners.  IE if I lease a rig at .005B/mh/day it will likely never come up on the page if offer a 10% rehire discount.  They will likely just stay leased to the same person.

Most of our renters (Except leaserig staff who rent to test our providers and system) make more than they pay renting rigs and continue to rent because of this.

I think you will find the upcoming expansions to leaserigs will make it a far more valuable tool than anything else out there.

You're right. If the price were .005 then renters could make a small profit.

However, the stats page would lead me to seriously question the "most of our renters make money" claim. For example, today the trailing average all day has been hovering around .007 BTC/Mhs/day while the most profitable coins have been around .006 with a top ten average around the mid .005's. Adding in leasing fees and such make the gap bigger. Then there's the pool fees, withdrawal fees, etc. on top of that. The only way for a renter to profit would be to "mine and hold" hoping for the coin value to increase. But honestly, if that's their intention then buying the coins instead of mining them would be much more profitable since they wouldn't be sacrificing up to a third of their capital before getting their coins.

Don't get me wrong. I like the concept of renting rigs. I think it provides a much needed service. But so far I haven't seen any prices for leasing a rig that would profitable to the renter. Maybe I'm just catching the stats page at the wrong times of the day or something.

Actually most of the mining that is done with the rigs here on LeaseRigs, are NOT for coins that are currently on an exchange. They are for brand new coins that have no exchange associated with them yet. So you cannot actually tell how much money you will make. But usually when you mine a brand new coin, you can acquire a lot, then when it hits the exchanges there is usually a big jump in price, in which you would sell those coins you have mined and make profit..

Very rarely have I ever seen people mine existing coins with my rigs, i.e. litecoin or any coins listed on coinwarz, etc.

[suchmoon]

Can you please help me understand...if the price I get on leaserig is always going to be higher than the amount of coins I can mine with the leased equipment, why should I lease?

If the price you get on leaserig is higher than the amount of coins you can mine with leased equipment you shouldn't lease.

I do want to point out two things: The reason you see higher prices on leaserig is the reliability of the system and providers as well as the quick purchase and rehiring of lower priced miners.  IE if I lease a rig at .005B/mh/day it will likely never come up on the page if offer a 10% rehire discount.  They will likely just stay leased to the same person.

Most of our renters (Except leaserig staff who rent to test our providers and system) make more than they pay renting rigs and continue to rent because of this.

I think you will find the upcoming expansions to leaserigs will make it a far more valuable tool than anything else out there.

You're right. If the price were .005 then renters could make a small profit.

However, the stats page would lead me to seriously question the "most of our renters make money" claim. For example, today the trailing average all day has been hovering around .007 BTC/Mhs/day while the most profitable coins have been around .006 with a top ten average around the mid .005's. Adding in leasing fees and such make the gap bigger. Then there's the pool fees, withdrawal fees, etc. on top of that. The only way for a renter to profit would be to "mine and hold" hoping for the coin value to increase. But honestly, if that's their intention then buying the coins instead of mining them would be much more profitable since they wouldn't be sacrificing up to a third of their capital before getting their coins.

Don't get me wrong. I like the concept of renting rigs. I think it provides a much needed service. But so far I haven't seen any prices for leasing a rig that would profitable to the renter. Maybe I'm just catching the stats page at the wrong times of the day or something.

The way I see it:

I (a provider) have certain resources, which include expensive equipment, power, cooling, knowledge to set it all up and keep it running.

I can use all that to mine on a multipool and get 0.005 on a good day. Or I can spend enormous amounts of time trying to figure out how to make maybe 0.007.

The buyer (renter) has knowledge and/or expectation of more profitable mining but lacks the aforementioned resources. Perhaps the renter lives in a place where equipment and/or power is more expensive, perhaps there is a short window of opportunity and it is not worth investing in their own equipment, perhaps the renter is smart and can outmaneuver gigahash pools with better mining/trading strategies - there could be many reasons why that would make sense and here's the best part: I don't have to care about that, just like the renter doesn't have to care about getting rid of 20kW of excess heat. I take care of equipment, renters take care of mining, perfect.

Supply and demand, division of labor, whatever you want to call it, it's just some basic free market principles at work here, and functioning quite well I think.

[grippy54]

Supply and demand, division of labor, whatever you want to call it, it's just some basic free market principles at work here, and functioning quite well I think.

+1

[BotwinBG]

miaviator - I am unable to login to the admin panel, either the wrong username or more often wrong captcha. Someone rented a rig I have not had enabled in weeks, not sure what is going on. Need to refund the user and disable the rig, unable to the the latter because of the login problems.

[miaviator]

miaviator - I am unable to login to the admin panel, either the wrong username or more often wrong captcha. Someone rented a rig I have not had enabled in weeks, not sure what is going on. Need to refund the user and disable the rig, unable to the the latter because of the login problems.

Did you already open a support ticket?  Let me know if you haven't, also most providers find this FAQ article solves their login issues: http://leaserig.freshdesk.com/solution/categories/1000067702/folders/1000106844/articles/1000040606-cannot-log-in-after-the-site-maintenance-on

[n00bminer]

Are we down?

[byt411]

Are we down?

As it says, it is under maintenance. All rented rigs will continue hashing as normal.

[tuner]

it's not good that we need to enter password and captcha everytime when open this page, it has not been before. Passwords are unusually long, and captcha is quite difficult. Cant you make this login system like it was before?

[snipsnoop]

it's not good that we need to enter password and captcha everytime when open this page, it has not been before. Passwords are unusually long, and captcha is quite difficult. Cant you make this login system like it was before?

+1

[xrobau]

Did you already open a support ticket?

Just in case you missed it, lots of people DON'T LIKE the way sessions are expiring continuously. If that's deliberate, please don't. If it's accidental, please fix. 

[grippy54]

Has the traffic gone down on leaserigs.com? I've noticed a substantial reduction in rents. Before you say it... yes I'm competitive on price.

Is leaserigs promoting the service at all? I know there are other services, but I feel like this one has the best technology, so want to hang out here and not jump ship.

[railzand]

It's pretty much just your algo that's quiet for now...

[miaviator]

it's not good that we need to enter password and captcha everytime when open this page, it has not been before. Passwords are unusually long, and captcha is quite difficult. Cant you make this login system like it was before?

You mean can we make our site use a plain-text cookie to store a password and username which gives access to a bitcoin wallet and stays logged on indefinitely?

We could.  If customers and providers really wanted that.

The second security release is almost complete which will do away with the annoying captchas in favor of longer session times and 2FA.