I earn just under 100 USD per day through cloud mining, and although there are pros and cons to it and good and bad companies if you choose well, it can be a good investment.
I feel safer with a cloud mining company with physical infrastructure and a public team behind them than I do with a make xxx dollars per day website ponzie scheme.
Either way, like anything, never invest what you cannot afford to lose, but for me, it is very profitable atm, especially since the price of BTC went up and the difficulty went down.
Happy days.
These words don't hold much value until you share details about what exactly you're mining, how much you have invested, and most importantly, when did you invest money into cloudmining.I feel safer with a cloud mining company with physical infrastructure and a public team behind them than I do with a make xxx dollars per day website ponzie scheme.
Either way, like anything, never invest what you cannot afford to lose, but for me, it is very profitable atm, especially since the price of BTC went up and the difficulty went down.
Happy days.
People quite often think that the payouts they generate are earnings, but this simply isn't true ~ the mining service is just paying you your money slowly back, that's pretty much it.
Earning happens when you have made your initial capital back, where from that point everything you make can legitimately be considered earnings. As long as it isn't profit, there is no such a thing as earning.
Your comment about seeing the payouts as earnings is dependent on how you look at it.
If you purchased say 10k worth of XXX coin and it dropped in value by 30 or 40 percent, would you sell it and take the loss or hodl it and hope it climbs up again?
With mining you could use the same analogy except that the 10k you invested, you know is coming back, all be it in fractions but you have a steady income from it, whereas if you are sitting on 10k worth of coins that may drop even further which position would you rather be in?
So my point is, as I stated in my earlier post, any investment involves risk, to me I would rather see my risk mitigated by a slow but constant return on my initial investment and if and when it reaches the break even point, as you said then you are making profit.
But the guy who is sitting on his 10k of shit coins is either still sweating it or stagnating where he is, of course he may double his money too but that is also a risk.
So if you went out and bought 3 BTC today, when would you expect see a "profit" from that purchase, when it increases by say 3% you have made some money but that's it, you either sell and take the profit or your HODL and ride the waves, unless you are a trader which I am not. So that 3 BTC will sit and just climb in value as the coin does, some people are happy doing that and good luck to them I say.
With BTC mining you get paid back in BTC so as the price increases so does your pay out, yes there is the difficulty factor but you are still getting that steady income and at the same time able to HODL what you are earning back, so in effect depending on the size of your contract and mining fees and difficulty I see it as a great way to make money.
The other thing to take into account is if you look at the Fiat cost of the mining purchase, that is also greatly depreciated by the increase in BTC price, so yes there is a waiting time until you "break even" but the longer your contract goes, it is likely the more the BTC price increases and therefore your ROI in Fiat value is coming back to you a lot faster than most would think.
For example on Genesis from memory 40TH was around $5,400 USD or somewhere near that, 2 months ago that would have been 2.1/2 something BTC to purchase, now it is 1.2/3 so in Fiat terms instead of needing to earn 2.1 BTC to break even for that 40 TH now I only need to earn 1.2/3 btc to break even, which means your ROI is coming back to you the more the price of BTC rises, essentially the quicker you have already seen a ROI.
That is my take on it anyway and it works for me.
P.S Not going to go into full personal details here about my contracts but I am happy with them and enjoying the returns.
Though you also have to factor in the effects of price increase. The increase of price will lead to more miners trying to mine and that would mean the difficulty will also increase. Which also translate to lesser coin mined by your miners. Yeah maybe prices went up by 100%, your chances of getting coins is halved. Which means you still will be breaking even by the same time.
