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is there a way to rent hashrate at least at a modest profit or break-even?
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If there were, everyone would be doing it...
There may be some way to dial it in based on hashprice fluctuations, but it will take a lot of work to try. I'm sure there will be periods of time where you can probably come close to break even if a pool has some luck but there is a reason people are selling their hashrate and not using it to mine themselves.
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Just be clear that Kratter is pushing this method for a singular purpose: signalling for BIP-110. He is advocating that you rent hashrate and send it to Ocean, at a loss, so as to get to the magic 55% threshold to trigger the miner activated soft fork for BIP-110.
He's delusional.
He glosses over the fact that in order to actually signal for BIP-110 you must use your own node and DATUM gateway configured for BIP-110 because Ocean's default block templates do not signal for BIP-110.
Renting hashrate is not something new. Nicehash has been around since 2014. Kratter is just latching on to it as a way to further his one and only agenda: Saving Bitcoin from the spammers.