Hey,
New in a forum but been owning cryptos on and off for 3 years+, mostly for buying stuff online. So I got genuinely interested about these cloudmining sites only by now as I never realized they offer such a huge returns. However I am aware that most of these if not all, are scams.
My actual question is: Is it theoretically possible for such a service give as high returns as they promise? For you cryptominers out there: If I for example have 20 Terahash of mining capacity, how much this would earn for me or the cloud mining company itself if used. I found some calculators online, but couldn't figure out the cost of the electricity and such. Thank you for your answers !
NOTE: this is not scam accusation, just interested how much an optimal setup would net profit with different TH/s numbers.
New in a forum but been owning cryptos on and off for 3 years+, mostly for buying stuff online. So I got genuinely interested about these cloudmining sites only by now as I never realized they offer such a huge returns. However I am aware that most of these if not all, are scams.
My actual question is: Is it theoretically possible for such a service give as high returns as they promise? For you cryptominers out there: If I for example have 20 Terahash of mining capacity, how much this would earn for me or the cloud mining company itself if used. I found some calculators online, but couldn't figure out the cost of the electricity and such. Thank you for your answers !
NOTE: this is not scam accusation, just interested how much an optimal setup would net profit with different TH/s numbers.
No they do not give you higher returns. Instead of that what they are doing is they are taking huge or little from you and then showing you the simulated figures which yo never achieve in the reality. The thing is cloud mining is very old game and it does not benefit you now a days due to extreme difficulty for the network. The congestion has recently increased a lot and until the time we don't figure out the block size problem then this will continue. In practical approach cloud miners are getting what they are looking for but they never get enough profits to re-distrubtue to us. They might pay you for initial months but they will end your contract before you can start profiting. So think many many times before you invest money into it.
