Crypto and Bitcoin Mining Rental Rigs and Cloud Mining, What's The Catch?
I am referring to sites like these: https://www.miningrigrentals.com/ https://iminer.net/en/ https://www.rhy.com/en_us/rental https://iqmining.com/ https://mineunit.com/device The 3rd one is a Chinese website that boasts Electricity Bill 0.046 $/kwh. How do I get 0.046 $/kwh if electricity in my area is 0.18 $/kwh. Are they sending me a physical machine or leasing their 'profits'. What's the catch? Why would they want to rent this to me when they can just plug it in and make the profit themselves? Maybe they are doing this because the halving eroded their profits? Is this a hedge in case Bitcoin falls? Or. Are they making a profit difference on the spread of what the miner makes and what they charge me to rent, best case scenario leaser and purchaser both makes money? How is this not a big thing yet and wide known and why doesn't everyone just dump their money into this if it seems like the websites are just saying and advertising it's free money as long as you have the capital to rent. It sounds all too good to be true, please enlighten me.
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12-20 15:24 - 'There is mining rental. [link] / You legitimately rent some hashrate and point it to a pool. It's not profitable. Can be used to test something, buying like 6 hours of miner time.' by /u/jenny82ishere removed from /r/Bitcoin within 399-409min
''' There is mining rental. [link]1 You legitimately rent some hashrate and point it to a pool. It's not profitable. Can be used to test something, buying like 6 hours of miner time. ''' Context Link Go1dfish undelete link unreddit undelete link Author: jenny82ishere 1: www.mini*g*igren**ls.*o* Unknown links are censored to prevent spreading illicit content.
ULPT: You can increase your margins mining crypto by hooking up your bitcoin mining rig at a rental where you have negotiated a rental rate with utilities included.
One of the primary costs, outside of the actual upfront cost of the equipment, is paying for the energy used to power the mining equipment. A way to lower your expenses and increase your margins is by finding a landlord that is willing to let you pay rent with utilities included. The landlord will end up bearing the cost of your power consumption. For more on Bitcoin Mining Rigs Click Here
We consider Bitcoin to be immutable. But, even if only theoretically, it is possible to rewrite the ledger with a 51% attack. When ever I have been asked about this I have always said, “yes it is possible, but it would take a military grade budget” What would be the real cost of doing a 51% attack when factoring the cost of machines, the cost of energy consumption and other indirect/direct cost?
Investing when you don't trust [that] your own judgement [lines up with popular trends]
At 37, better a little late then never, I finally understand I need to invest my money. I've read advice that "if you have expertise in a field, why not use that to inform what companies you invest in?" Here's the problem: as a tech geek / early adopter I tend to get the technical fundamentals right, but bet on the wrong horse every time. I zig just before the general population zags. I know this about myself, so it makes me question how I could trust myself to pick investments. For example, I invested a lot of time, and some of my money, on a pre-Android Linux phone and learning how to develop for it. A few months later, the first iPhone came out. Right idea, wrong timing - I missed the mobile app developer bandwagon by being too early. Of course I could have pivoted to the new platform, but rode the sinking ship instead. Plus my tightwad (now ex-)wife at the time wouldn't stand for me putting $$$ on a different smartphone so soon after "wasting" $$$ on a dud. In 2010 I thought Facebook was crazy to turn down a $24B offer from Microsoft. I predicted that people my age and younger would soon become disillusioned with the platform and might start leaving it in droves. I predicted FB would become and remain an irrelevant cesspool of sh!tposts and political memes. Plus you know, privacy concerns and all that. Well you all know how that turned out both in what did happen and how little long term effect it has had on FB's market value. In 2009 (post crash) I supported / encouraged my (now ex-)wife at the time in buying our first house, because I envisioned that entities able to buy up properties for cash, such as (foreign) investment firms and rental companies were going to soon start out-competing individuals for houses on the market. I think I thought the concerning half of every trend over 2010-2020 was going to take place in 2009-2011. That didn't happen (then), and when we wanted to move the house failed to sell; she still lives in it. I was aware of Bitcoin from early on. I could have easily mined it when it was still energy efficient to do so on a PC (and I had a collection of powerful PCs for the time), but I thought it was foolishness and didn't want any part of it. It's like that episode of King of the Hill where Peggy figures out that by following Bill around as he shops and seeing what he buys she can know what to invest in because Bill is such an "everyman." Except in my case maybe you should pass on the things I pick for myself.
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