Buy crypto or buy a mining contract?

Iranus

hero member

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Leading Crypto Sports Betting & Casino Platform

Quote from: gentlemand on July 14, 2017, 10:49:30 AM

To maintain your payout a cloud miner would have to spend thousands extra to buy more machines and electricity to combat difficulty changes.

Are they going to do that? It would be dead nice of them if they did but I'll go for a no.

Most cloud mining services run with a fixed hash rate or with a machine.

When you buy on some bullshit cloud mining service like Genesis Mining, they give you contracts to buy X number of MH/s, GH/s or TH/s. With Hashnest, you buy the machine's hashrate and the fees they charge are maintenance costs.

With some crazy crypto rallies preceding you buying the contract, I would say that it'll be completely shit within a month or two. Regardless, Genesis Mining is a load of crap and within a few months they'll be charging you more than the amount you earn. Considering that they try to hide how much they actually charge, you'll probably end up losing a lot of money in a very irritating and complex process.

tl;dr: just buy.

DaMut

sr. member

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A lot of people asked same question everytime,you should read about other experience in using mining contract or qe called it cloud mining.cloud mining profitable,very very profitable if you use it in 2014ish because the difficulty not really high.other than that if you buy a contract likely you will only lose your investment because many cloud mining contract charging electricity fee and maintenance fee which is very high and make your contract no longer profitable.

So,if you have money.
Buy altcoin,holding it for a year or more and than you can get what you deserve(obviously you need to do a research before investing your money into altcoin because a lot of scam project created in this past years)

gentlemand

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Welt Am Draht

To maintain your payout a cloud miner would have to spend thousands extra to buy more machines and electricity to combat difficulty changes.

Are they going to do that? It would be dead nice of them if they did but I'll go for a no.

Kronos21

sr. member

Activity: 434

Merit: 255

I recommend to buy mining equipment. It would be more profitable. As you will earn coins you will be able to expand their capabilities and to earn more. You will always be equipment and you will be able to get any coins. If you invest your money in cloud mining there will be no money nor coins.

Amph

legendary

Activity: 3248

Merit: 1070

your question should have been buying crypto or buying mining rig? mining contract are a scam with no future, there is no roi there to reach, you will wast time and money

with a mining rig you can always have your profit, and you woul exchange your bitcoin at cheaper price, buy buying altcoin, you can have with some luck a huge return but there is also a higher risk

it's your choice, to choose between high risk high return or the opposite, low risk low return, but not always, sometimes you have high return in mining by aiming at the correct altcoin

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

the answer is obvious: buy bitcoin (not crypto) Cheesy

mining contract or cloud mining or relying on someone else to mine instead of you with your money and pay you peanuts in return is never a good idea because that someone is a scammer in 90% of the times and the rest of the time it is not profitable at all.

so it is best to buy bitcoin instead, directly and make profit by holding or trading it. you can then diversify into some altcoins if you think that is a good option but don't do it with more than 20% of your total in my opinion.

Wind_FURY

legendary

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Quote from: SFR10 on May 25, 2017, 05:12:58 AM

Saves yourself from the hassle and just buy crypto instead (at the same time, your money is completely in your control). Most websites that offer mining contracts (there's few that so far are good but I won't list them), turn out to be scam websites (along the road) and you'll end up on the losing side (stay away from such websites).

Thanks for the advice. I am looking for cloudmining sites to invest in but I have a hard time finding which one is good. A lot of the comments here say Genesis Mining is good and also Hashnest. Can you give us your assessment on them?

ladydark

hero member

Activity: 686

Merit: 500

Quote from: Absinthe on May 25, 2017, 03:11:54 AM

I have $1000 to invest.

Theoretically, is it better to buy crypto, or buy mining contract?

And why?

Which are reputable mining contractors?

Thanks!

Most of cloud mining firms are scam nowadays.You could try genesis.But remember,you would have to wait atleast for six months even to recover your initial investment.
Buying a crypto coin is good but you have to make research to find the most under estimated coin so that your profit would be more.

Absinthe

newbie

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Thank you, SFR10.

SFR10

legendary

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Crypto Swap Exchange

Saves yourself from the hassle and just buy crypto instead (at the same time, your money is completely in your control). Most websites that offer mining contracts (there's few that so far are good but I won't list them), turn out to be scam websites (along the road) and you'll end up on the losing side (stay away from such websites).

Absinthe

newbie

Activity: 28

Merit: 0

I have $1000 to invest.

Theoretically, is it better to buy crypto, or buy mining contract?

And why?

Which are reputable mining contractors?

Thanks!

Topic: Buy crypto or buy a mining contract? (Read 658 times)