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BitCoin Mining With A VPS
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Inflation adjusted, it's actually cheaper now (horizon > 10yrs).
http://www.ebay.com/itm/like/121265997939?lpid=82
Cheap, uses almost no power relative to the work it puts out. Still won't make any money.
...inclusive of power costs? Because a decent GPU is several hundred bucks (or several thousands if you mean really top-end) and you have to subtract the power to run it and the host.
3071Khash/s with a VPS?! Is that a typo?
Also, there is no way you are getting 250 Mhash/s with a single gpu. The best cards only get ~700 Khash/s. Even huge mining farms, with over 100 GPUs are in no way pulling 250 Mhash/s.
I mean they raised prices more than usual last years (because of bad economic situation)
really? this isnt 2012
Yeah it's 2014. As I said GPU mining altcoins is profitable and always has been.
The problem with people when it comes to crypto currencies is that they don't look deep enough into it. That's why they get surprised when people who have looked into it point out stuff to them.
Or you could just colo your own mining rigs and take all the mining profits yourself, rather than (presumably) giving a cut to the customer.
Unless mining is not going to be profitable, of course, in which case your original suggestion makes no sense.
Yes you could do that and people are doing that on a massive scale:
http://dealbook.nytimes.com/2013/12/21/into-the-bitcoin-mines/
https://bitcointalk.org/index.php?topic=346134.0
The above examples are about bitcoin mining with ASICs. I am sure people are doing this for GPU mining as well but I don't know of any public reports about this.
LeaseWeb is offering GPU servers. They're not cheap, though, and I doubt they had cryptocurrencies in mind when setting these up. http://www.leaseweb.com/en/dedicated-servers/gpu
That's kind of the point. There's no reason, profitability-wise, to "rent out" mining capacity, unless you have a questionable agenda (such as network takeovers, where the main goals are extreme growth and not being challenged on your operation). That would explain why hosts aren't doing it.
EDIT: I should point out that this is quite different from renting out processing power in general; for most usecases (video transcoding, hash cracking, etc.) the usecase would work better for the person renting, than it would for you. thus making it more practical to rent out computing power, rather than for example transcoding stuff yourself (would you even have anything to transcode?).
On the Bitcoin network, everybody is equal, in the sense that any person would be able to fairly trivially set up a mining operation and gain the same profits as anybody else. Renting out computing power for that specific purpose thus makes no sense from a business perspective.
Not a typo, even my HD7770 can do almost 200 Mhash/s
Yes I would expect this sort of argument from you. In another thread you basically went and said that you didn't believe in specialization. There is more to alt-coin mining than just the hardware.
The argument about whether you should rent or use it yourself can be made for pretty much any usecase. Why offer hosting for blogs monetized with adsense when you can use all your hosting space to start your own blogs? Or your own whatever? You know if you own a popular site then, depending on the niche, you can recover your monthly hosting cost within 1-4 days. The rest of the month is pure profit.
Nope. There is more equality in alt-coin mining than bitcoin mining. Bitcoin mining is now becoming centralized in the hands of ASIC manufacturers. Try buying an ASIC and see how it goes. You have to pre-order it and pay through the nose to boot.
What would be the benefits of ASIC manufactures for selling the devices instead of mining with them, themselves?
Every new miner makes it harder for every other miner. Thus you need faster and faster devices to garner the same profit. In the case of ASIC manufactures, the more devices they sell, the more devices need to be purchased to keep a profitable mining operation running, as those old GPUs become slower and slower in the mining operation.
Interesting. Thanks for the explanation
It's simply saying the more people mine the higher the difficulty of mining them. This applies to all coins.
Which is why no can currently serve miners well at this point. The large increase in bitcoin miners has caused the value of bitcoin to drop as supply increases. Until we see more stability in bitcoin, providers hosting miners will not be economical.
edit : I was wrong, sorry
"why sell the hardware when you can mine"
There's no easy answer, but selling 10K units may be easier than trying to mine with 10K units. It depends on the business you want to run, as some manufacturers are just that.... manufacturers.
I looked a little into other currencies an found it very interesting. I think everyone's fear is that it's just a ponzi scheme when it comes to mining. There's a ton of ways you can exploit price differences between exchanges and currencies.
So for long term it is totally unadvised to be a miner, unless you would like to pulverize your profit for new mining machines?
Litecoin is not equal to bitcoin. I was mining bitcoin in this test.
https://en.bitcoin.it/wiki/Mining_hardware_comparison#Nvidia <-- see here.
Im not saying that, I am saying it is unadventurous to mine bitcoin with a CPU. You can also most stand to reason at this point that GPUs are ineffective as well.
If you feel like mining bitcoins I suggest a ASIC device.
IMHO, after the attention in December and the news on Dogecoin all of the easy to CPU mine coins were flooded with miners. Difficulty shot up quickly and, as difficulty increased, payouts per block decreased.
On XPM I make about 1 XPM/day with two dual L5639's an E3-1275 and spare cycles from my desktop, that's about $3/day and going down. In December that same setup made me 3 XPM/day or about $10/day.
In January someone came on line with a setup making 750 XPM/day. That person is quickly mining the majority of XPM in the pool and running the difficulty up. XPM reportedly cannot be GPU or ASIC mined.
Based on the rate that XPM is being mined I can expect my March payout to be $7-$15. At that point, I'll just use the coin I've already mined and trade in the market. For three months of mining, I expect to have .8-1 BTC. Not worth the money to buy equipment but, if you have it laying around doing nothing, give it a shot.
Have you tried Protoshares mining? I think that would be produce you more that your can trade and make profit with. What arbitrage tool are you using? Im using this one http://forum.netcoinfoundation.org/thread/348/dev-feedback-portfolio really good too
Your calculations are all wrong. Try again with Primecoins and protoshares
What are you referring to?
ooh whats the fuzz about bitcoin anyway. lately it became more and more popular. but i dont have myself any faith in it, because "dem govments" are already bashing and warning about pyramid and ponzi schemes and etc.
As long as there is a need, there is a way. "dem govments" had 0 success in stopping drugs, but managed to create a mafia which now controls full countries.
If they wish to push these currencies underground (not much choice, really, their own currencies are losing credibility) then they can expect to confront a really illegal mean of payment which will also create mafias who need some alternative payment ways.
As a government, I wouldnt have much choice but to resist however, in the long term, only fixing the laws and economy will really stop the rise of these currencies. It is the rise of the common man, understanding his power and uniting over the internet. There will be a revolution or the governments will turn back to democracy.
Those which make peaceful revolts impossible, make the violent ones inevitable.
http://www.nytimes.com/2014/02/21/world/europe/protesters-join-fight-in-kiev-100-at-a-time.html?hpw&rref=world&_r=0
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