Renting Space For Mining



  • Hi All,

    Just a quick survey, since there are lot of Burst Mining Assets down there, I just wanted to know how many people would interested in Selling / Buying Space on Rent for Burst Coin Mining (Rent per TB)...

    I know process of plotting again & again would be difficult for the Buyers, But just considering if such option comes out how many of you will be interested ?


  • admin

    @Castiel I'd be interested as a space seller - but it would really depend on the rate per TB.



  • Thanks @haitch

    Well the Idea is to build a kind of 'Space Exchange' ... Where Buyers & Sellers would offer their own price ....

    Its just an Idea I am putting forward. Not sure how much is it possible for now.



  • @Castiel Creating a NiceHash for BurstCoin would be amazing, I'll rent my space while buy from others as well.
    Check out Storj, maybe you can develop a something like that for Burst and I'll be your first client 🙂



  • @haitch please pm me what rate you are looking for ...

    @rnahlawi This will be vert challenging ... But I think someone can easily setup Exchange portal & people can rent at their own risk


  • admin

    @Castiel that's the problem I have getting my head around - why should I rent out my space for less than what it will potentially earn for me if I plot it for myself vs Why would anyone pay more than the estimated earnings for the space ?



  • @haitch said in Renting Space For Mining:

    @Castiel that's the problem I have getting my head around - why should I rent out my space for less than what it will potentially earn for me if I plot it for myself vs Why would anyone pay more than the estimated earnings for the space ?

    Well it works no different than cloud mining ..... Users pay for their power in Cloud mining & they get returns for the same...
    Whereas to Returns .... It might be a gamble here .... You may earn more or less than what you pay as Rent 🙂


  • admin

    @haitch said in Renting Space For Mining:

    @Castiel that's the problem I have getting my head around - why should I rent out my space for less than what it will potentially earn for me if I plot it for myself vs Why would anyone pay more than the estimated earnings for the space ?

    In many countries HDDs are more expensive than in e.g the USA. Same with electricity and reliable Internet connection.


  • admin

    @daWallet Drive price and electricity cost don't come into it - it's all about cost per capacity.

    a storage provider will look at the calculator and see I can X per TB - why would I sell for less than that?

    a storage buyer will look at the calculator and see I can earn X per TB - why would I buy for more than that?

    Unless the storage owner has no interest in mining the storage themselves, there is never an incentive to sell the space - no one will be willing to pay more than you can earn with the space yourself.



  • @haitch thats why i never understood cloud mining in the first place... why would the company not just mine for the coin them selfs and bank ... and how could they afford to offer hash power for less than someone can just buy on there own and keep. resale when finished.



  • @Gibsalot It's all about risk aversion. Sure you COULD mine it all yourself and possibly make more, but you could also never ROI on your investment. Cloud mining lets you lock in profit even if it may not be the most possible. It's a win-win.



  • @superskid i guess looking at it that way , just never considered it from that point of view



  • @Gibsalot It's same reason I decided to offer an asset. I have over 300TB mining, have another 600TB on the way, so to piece some of it off made sense to me.


  • admin

    @superskid How is it win-win? I won't sell it for less than it could potentially earn, you're not going to buy it for more than it could potentially earn -You won't buy at the rate I want, I won't sell at the rate you want.



  • I disagree with that. If a am reasonably confident it will earn X, and X-10% is still profitable I will sell it for X-10% to lock it in. And you as a buyer if you're a smaller farm might be able to buy a TB cheaper, then having to invest a bunch of money into other mining hardware which will creep up your cost per TB. If you only want to mine 10TB buying a vid card, etc.. hardly worth it compared to just buying.



  • @haitch said in Renting Space For Mining:

    @superskid How is it win-win? I won't sell it for less than it could potentially earn, you're not going to buy it for more than it could potentially earn -You won't buy at the rate I want, I won't sell at the rate you want.

    I think what may be over looked is potentially I can not afford to buy 10TB of my own, but I could afford to rent 10TB for lets say a week to a month and get some coins. However why not just buy it on the exchange?

    -IceBurst



  • @IceBurst Exchange is an option, but if you believe in the coin and think the price could go up you would be better off buying TB that gives you constant BURST then risking every week how much you can afford.



  • @haitch I think what @superskid means is that you could sell at at a higher rate and there may still be people who would want to buy at that rate for various reasons (i.e., if electricity/HDDs are more expensive, like @daWallet mentioned). Therefore, it would be a win-win situation. Not everyone can invest in HDDs and not everyone is tech savvy enough/have the time and patience to set up a mining rig - that's why cloud mining is still a thing.


  • admin

    @vier23 I agree to sell some of my storage, look at the earnings calculator, and that tell me I should earn X burst. Because of the downtime while I replot for the buyer - I'll sell it at X + 10%. The buyer earns the expected amount X - they paid 10% of X for losing money.

    The model simply doesn't work unless either the storage owner has no interest in utilizing their capacity for themselves, or the buyer is an idiot. There is no rational reason for selling at less than it's potential value, and there is no rational reason for buying at higher than potential earnings.


  • admin

    @vier23 I have the capacity to earn on average $1. To make it worthwhile to me - I'm going to sell that capacity for $1.10. The buyer can expect to earn $1, but will pay $1.10 for that capacity. See the problem ?