Topic: A few questions about cloud mining. (Read 1134 times)

Read this post: https://bitcointalksearch.org/topic/cloudmining-101-ponzi-risk-assessment-878387
Most cloudmining companies are ponzi scams.

On-topic:
Google is your friend.
Just search mining calculator on google.

#puppet4lyfe
#masterscub

These provably fair calculations, and PPLNS calculations and now this cloud mining calculations. its all a bunch of bullshit if you ask me. You want real calculations that don't involve a rocket science degree.

Cyberpinoys calculations of truth

Find a member of the cloud mining site,
Ask how much GHS do you own,
HOW much BTC do you make per day on all your GHS,
Divide the amount they make per day by the amount of GHS they have it gives you the income for 1 GHS per day,
multiply that by the amount you wish to buy and then see how long it takes to get an ROI.

screw all these bullshit equations for testing purposes, My method tells us exactly what we want to know.

HOWEVER

that is only a tiny part of cloud mining, because the real work involved in cloud mining is not the payout but more so who are scams and who are not. a 6 month ROI is useless if the websites takes your BTC and runs after 2 months of being with them. The real work in cloud minignis distinguishing the real companies from the scammers or future scammers.

Of course you are right and the website could be wrong.

If you do the calculation manually though, you can use different difficulty adjustments for each period. Also, it's good to know what's going on behind the scenes with those calculators.

Or you can use this site https://bitcoinwisdom.com/bitcoin/difficulty 

The following equation lets you calculate the reward:

Reward = Hash Rate * Block Reward * Time Period * 65535 / (2^48 * Difficulty)

At the current difficulty, over a period of a day, 1 Gh would mine:

1*10^9 * 25 * 86400 * 65535 / (2^48 * 40007470271) = 0.00001257 BTC.

First you need to calculate your electricity costs.

A 1 Gh/s miner that consumes 1 W and has electricity costs of 0.1 $/kWh would have a running cost of:

0.1 * 0.001 * 24 = 0.0024 $/day.

So, with the exchange rate at 350 $/BTC, a 1 W/Gh miner with electricity costs of 0.1 $/kWh would make

0.00001257 - (0.0024 / 350) = 0.00000571 BTC per day.

Once you've calculated your electricity costs, you then have to guess when the next difficulty adjustment will occur and calculate the amount mined for that period. You then subtract the electricity costs for that period.

A full difficulty period would last for 14 days if the network hash rate didn't change. If the hash rate increases, blocks are found faster and the round will be shorter. If the difficulty decreases, blocks are found slower and the the round will be longer. You guess when the next difficulty adjustment will occur, calculate the amount mined for the round and subtract the electricity again. You repeat this process until the amount mined is less than the cost of electricity, adding up all the results for the profitable periods. Finally, you go back to that last round, guess when mining will become unprofitable, calculate the BTC mined for that period and add it to tally. If this value is greater than the cost of the contract, you think you'll make a profit.

I personally thing the best cloud miner right now is LTCgear. The ROI is the best and payouts have been quick and easy. There is no real transparency so it can be risky (similar to pbmining recently and the owner's shady stuff) so that is up to you. I invested knowing this but already made 110-120% ROI (so 10-20% profit). Other decent companies are AMhash (I would go direct or through havelock and avoid hashie since whether they are legit still remains unclear). Another good one that I invested in is bitmain's newly aquired snowball.io which is now hashnest.com. I would recommend any of the above, CEX is another company but profitability is extremely slim although they are well established.

You can ROI in a few months if the difficulty doesn't go up too much which will be the case it seems. But you have to go with the correct company that is doing business correctly.

Gaw really is terrible. But you have to remember a lot of people don't fluently speak English. So this isn't that weird. Well I invested .3  a BTC and earn .0035 a day so far in return.

I am just trying to offer up ideas. They also sell it at hashie and I have some there too but havelock payouts better. Hashie charges a premium.

Edit: I just realized you where referring to me. LOL, well idk what to tell you m8. But I got burned back in gaw and trying to pull out my money is about 1/3 the original purchase price so after 4 months investing with them I will stand to lose about 2k.

This sounds so real GAW sux invest in havelock! Trust somebody who doesn't even know how to write "whatever".

What ever you do just don't goto GAW they are pure scammers. After investing 5k I am being forced out taking a loss of 2k and running to better providers. https://www.havelockinvestments.com/fund.php?symbol=AMHASH3 is something worth checking out imo.

For who? How could you prove that for all of them?

An to respond to OP:

I any case, anyone recommending a service is only doing it to earn a % of your purchase. Do your own research, that's all I will say. I will not even mention the options available, they are one google search away.

What I can do is check your math once you do some research.

But for the most part, cloud mining is an investment for people who:
1. Are terrible at math
2. Like to burn money

Hasn´t it been proven that you don´t actually pay for any REAL gh/s / kh/s?

Not participate.Most customers lose money.

I'm using Hashprofit and got a good profit. Try the 200kh free for one week to see it in action.

Basically they are all good profit for the owners of the cloud mining operation. Customers however mostly lose money.

This is a good calculator: https://bitcoinwisdom.com/bitcoin/calculator

Is it worth it as of now? and if it is, how do you know? I mean, how do you make the calculations to see if you're gonna get a good profit...

And if it is worth, what are the best sites right now? are they good in the long or short run?

Thanks