you're buying a constant hashrate. you set how much btc per hash per day you want to spend and set a speed limit (eg 100TH/s). then it'll just keep mining until you run out of funds or the market will change and the going hashrate price will go up and miners will ignore your contract until you adjust your price up.
it sounds pretty complicated but i'd suggest signing up and going through the process a few times because that's the easiest way to learn. you don't even need funds in there to try out the process.
Any miners here?
Aiden Reed
Ryan Baker
goddamn that's some horrible writing. i really need to stop smoking weed.
Xavier Taylor
I do have a concern though. Why would anyone rent their equipment out for less than they thought they could make on their own? I admit I don't know much about mining, but my scam detector just started to go off.
Jaxson Brooks
why would you mine shitcoins when you can just sell the electric your making and gamble on them?
Joseph Morales
Basically, miners are selling their hashing power for relatively reliable income. Buyers are betting on a coin of their choice increasing in value beyond what they have paid for that hashing power. So its gambling. Wouldnt I be better off spending £30000 on mining equipment and selling some of my hashrate?
William Kelly
>less than they thought they could make on their own
they don't
they charge a slight premium which for most of us is still cheaper than the running costs of setting up our our own rigs. you've got to understand this hashing power is coming from farms with ridiculous amounts of machines and generally rock bottom or even free electricity. it's an economy of scale deal going on.