Nicehash or miningrigrentals like platform are only for those miners who want to rent mining rigs temporarily to mine few new altcoins to hold for longer time so that they can sell it for profit when it will be listed.
Their price is not good for mining regular alts or bitcoin as most of the seller there are renting their rigs to make profit.
Topic: Cloud mining does not make any financial sense? - page 3. (Read 2199 times)
I mined and cloudmined in the past...it was worth the fun to do it...
You might get enough satisfaction out of the 'fun' aspect of cloudmining, but that's not the case when it comes to the majority of the people here. They actually think that it will be a good long term investment, but as delusional and greedy that they are, they don't realize that it's nothing more than a waste of precious time and money. People having bought themselves contracts last year are still just hoping to get their initial investment amount back, while people smart enough to buy Bitcoin or the other crypto coins directly, are now enjoying profits ranging from 100 to +1000%. It's all common sense stuff that we're talking about - there is no need to be an 'expert' or whatever to understand the difference.
You are of course right...I have been lucky with cloudmining.
I have traded with profit and did go out in time.
About mining...I have been lucky as well when I mined with my PC.
I had fun to experince it and made few dollars with.
About my U2 mining...It cost me 42€ or so and I have resold it 20€
The fun to mine with was worth the lost of 22€
At least I have tried and I know about.
About the cloudmining I proposed...I can affirme that all my investors have made profit, even if it has cost me 16 redtrust points.
I mined and cloudmined in the past...it was worth the fun to do it...
You might get enough satisfaction out of the 'fun' aspect of cloudmining, but that's not the case when it comes to the majority of the people here. They actually think that it will be a good long term investment, but as delusional and greedy that they are, they don't realize that it's nothing more than a waste of precious time and money. People having bought themselves contracts last year are still just hoping to get their initial investment amount back, while people smart enough to buy Bitcoin or the other crypto coins directly, are now enjoying profits ranging from 100 to +1000%. It's all common sense stuff that we're talking about - there is no need to be an 'expert' or whatever to understand the difference.
Build a decent rig and mine yourself or get into DMD Diamond cloud. These re basically your options. The rest is simply not profitable.
Its quite obvious that cloud mining isn't worth it. May be it was introduced in the early stages of crypto currencies when the difficulty level was not so high. It would have been "slight" profitable then. These days nobody gives a shit to cloud mining sites since everyone in the crypto world knows that it is pure crap. Apart from the scam sites(there are thousands of them), the legit ones would be able to give only as much as you invest. So don't even consider to invest in such sites.
That's what I calculated myself
In the best case scenario it is only slightly unprofitable.But I'm puzzled by the fact, that there apparently are people, who are willing to invest 0.1 BTC to get =0.09 BTC
Its quite obvious that cloud mining isn't worth it. May be it was introduced in the early stages of crypto currencies when the difficulty level was not so high. It would have been "slight" profitable then. These days nobody gives a shit to cloud mining sites since everyone in the crypto world knows that it is pure crap. Apart from the scam sites(there are thousands of them), the legit ones would be able to give only as much as you invest. So don't even consider to invest in such sites.
It does for some but would not reccomend it please dont do it if you dong have the patience to wait for to proccess all that transactions. And even some are totally legit your gonna think it is a scam because youll be unpatient to that matter.
Everyone can experience this cloud mining but before we proceed this kind of mining is to think first and observe or research if it is bad or good to us.I am new here in the world of bitcoin thats why i want more knowledge in this kind of business.
This has nothing to do with Hardware so why post it here? Learn to use the right areas...
Reported to mods for moving.
Reported to mods for moving.
I mined and cloudmined in the past...it was worth the fun to do it...
Most of the cloud mining is scam pyramid. You pay money but not get the profit at all.
Cloud mining is bull shit.
Hash rate rental is a real thing, but you really have to think about your strategy is it worth it.
Nicehash and Mining Rig Rentals are legit places to rent hash rate.
Hash rate rental is a real thing, but you really have to think about your strategy is it worth it.
Nicehash and Mining Rig Rentals are legit places to rent hash rate.
I don't understand, why would someone cloudmine. I looked at nicehash prices
https://www.nicehash.com/buy
with 77 usd you can buy 0.05 PH for 24hrs.
According to profitability calculator, with that power, you would get 60 dollars in 24 hrs. So you would pay 77 dollars to get 60 dollars. What am I missing?
https://www.nicehash.com/buy
with 77 usd you can buy 0.05 PH for 24hrs.
According to profitability calculator, with that power, you would get 60 dollars in 24 hrs. So you would pay 77 dollars to get 60 dollars. What am I missing?
I wouldn't consider NiceHash a cloud mining service.
People use Nicehash to rent power for short periods of time, for say New coin launches or mining a coin that's highly profitable at the moment.
Look at Genesis mining, Hashnest, Hashflaire etc for Cloud mining, although I don't think they are very profitable either.
Regards,
I don't understand, why would someone cloudmine. I looked at nicehash prices
https://www.nicehash.com/buy
with 77 usd you can buy 0.05 PH for 24hrs.
According to profitability calculator, with that power you would get 60 dollars in 24 hrs. So you would pay 77 dollars to get 60 dollars. What am I missing?
https://www.nicehash.com/buy
with 77 usd you can buy 0.05 PH for 24hrs.
According to profitability calculator, with that power you would get 60 dollars in 24 hrs. So you would pay 77 dollars to get 60 dollars. What am I missing?
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