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Author Topic: Leasing mining rig time? and possibly solution to chargebacks  (Read 1633 times)
mjsbuddha
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April 06, 2011, 11:02:52 PM
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I have a mining rig with 2x5970's in it that gets 1.2 ghash/s. Im thinking about leasing week long blocks on the thing if people are interested.

Basically you would buy a week for X dollars via paypal and you would get all the bitcoins the rig generates during that time.

I think i thought of a way to prevent chargebacks as well. Paypal has seller protection on physical items shipped to a verified address. So I would deposit the bitcoins in a mybitcoin.com and at the end of the week mail the buyer a card with the username and password of the account to collect the bitcoins. If the coins are collected thats proof that the item was received by the person at the address tied to the paypal account and would be covered by paypal seller protection.

Would anyone be interested in something like that?
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April 06, 2011, 11:25:33 PM
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See this thread.  You might consider offering RPC mining, in addition to payouts.


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April 06, 2011, 11:27:36 PM
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I think i thought of a way to prevent chargebacks as well. Paypal has seller protection on physical items shipped to a verified address. So I would deposit the bitcoins in a mybitcoin.com and at the end of the week mail the buyer a card with the username and password of the account to collect the bitcoins. If the coins are collected thats proof that the item was received by the person at the address tied to the paypal account and would be covered by paypal seller protection.

Would anyone be interested in something like that?

I doubt that you could get seller protection this way, but if you can, go for it.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
mjsbuddha
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April 06, 2011, 11:40:43 PM
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I think i thought of a way to prevent chargebacks as well. Paypal has seller protection on physical items shipped to a verified address. So I would deposit the bitcoins in a mybitcoin.com and at the end of the week mail the buyer a card with the username and password of the account to collect the bitcoins. If the coins are collected thats proof that the item was received by the person at the address tied to the paypal account and would be covered by paypal seller protection.

Would anyone be interested in something like that?

I doubt that you could get seller protection this way, but if you can, go for it.

why would you doubt it? the bitcoins being removed would be proof that the card arrived at the address verified by paypal and would satisfy all the requirements described here:
https://cms.paypal.com/us/cgi-bin/?cmd=_render-content&content_ID=security/seller_protection_learn_more
MoonShadow
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April 07, 2011, 12:16:31 AM
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I think i thought of a way to prevent chargebacks as well. Paypal has seller protection on physical items shipped to a verified address. So I would deposit the bitcoins in a mybitcoin.com and at the end of the week mail the buyer a card with the username and password of the account to collect the bitcoins. If the coins are collected thats proof that the item was received by the person at the address tied to the paypal account and would be covered by paypal seller protection.

Would anyone be interested in something like that?

I doubt that you could get seller protection this way, but if you can, go for it.

why would you doubt it? the bitcoins being removed would be proof that the card arrived at the address verified by paypal and would satisfy all the requirements described here:
https://cms.paypal.com/us/cgi-bin/?cmd=_render-content&content_ID=security/seller_protection_learn_more

The transfer of the bitcoins wouldn't even be proof that someone received the card.  You could redeem the coins yourself without anyone else being able to tell.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
mjsbuddha
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April 07, 2011, 01:03:56 AM
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but i intend to have tracking on the package being sent to prove that it arrived at the address as well. this would be no different the buying a prepaid xbox live card from amazon but its a card with bitcoins on it instead.
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April 07, 2011, 02:06:50 AM
 #7

This idea has a lot of potential.

I don't know why someone hasn't setup a gpu leasing site yet to let anyone do this

I wonder if you could do it through eBay?

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April 07, 2011, 02:08:38 AM
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This idea has a lot of potential.

I don't know why someone hasn't setup a gpu leasing site yet to let anyone do this

I wonder if you could do it through eBay?


What about https://www.bitcoinrigs.com/products/Rig-Rental-Service.html

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mjsbuddha
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April 07, 2011, 02:45:16 AM
 #9

thats more or less exactly what i want to offer but his prices are way higher

also his "pro rigs" get about 200mhash/s less then mine
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April 07, 2011, 04:07:20 AM
 #10

This is a good idea. If you get it to work right, you should let us know so this could become more common. And you're right about those rental rates being too high from that mining rig site. The card I'm using gets about 250 mhashes/s and it cost just slightly more than one month at 200 mhashes/s from that site.

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April 07, 2011, 04:58:36 AM
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but i intend to have tracking on the package being sent to prove that it arrived at the address as well. this would be no different the buying a prepaid xbox live card from amazon but its a card with bitcoins on it instead.

No, it's still different.  As the sender, you have the data, and therefore the ability, to claim the coins yourself; regardless of who might receive the card.  Even if you are honest, that doesn't mean that a dishonest customer can't claim that you aren't.  If the story is plausible, and it is, then PayPal isn't going to cover you for this more than once.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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