I agree with monkeydominicorobin all of the cloud mining is a scam.
If you can invest money you can try maybe exchanges or buy some equipment to mine yourself if you have cheap electricity.
Topic: Cloud mining if I have a tiny budget - page 2. (Read 713 times)
Hi guys
Like a lot of people here I am still new to the scene, I would like to know whats the most preferred site to take out cloud mining contracts on? From what i can see the ROI seems to be around 6-8 months and then you start making profit.
There is a daily equipment maintenance fee on most of them, does that scale up ? Would that eventually become more than what I earn ?
Also how do payouts work on most of them? I have been looking at minergate, would it payout what i mined on a daily basis or does it need to reach a certain value like 0.001 BTC or something ?
I want to get into that, it seems like it could be profitable if you keep increasing the hashing power with some of your profit. I would only be able to spare $100 or less for now.
Thanks for taking the time to help this noob.
--------------------
Sorry mods, I saw this is the wrong thread after i Posted, you are welcome to delete this and ill post in the correct thread.
Still new here
Like a lot of people here I am still new to the scene, I would like to know whats the most preferred site to take out cloud mining contracts on? From what i can see the ROI seems to be around 6-8 months and then you start making profit.
There is a daily equipment maintenance fee on most of them, does that scale up ? Would that eventually become more than what I earn ?
Also how do payouts work on most of them? I have been looking at minergate, would it payout what i mined on a daily basis or does it need to reach a certain value like 0.001 BTC or something ?
I want to get into that, it seems like it could be profitable if you keep increasing the hashing power with some of your profit. I would only be able to spare $100 or less for now.
Thanks for taking the time to help this noob.
--------------------
Sorry mods, I saw this is the wrong thread after i Posted, you are welcome to delete this and ill post in the correct thread.
Still new here
Cloud mining is a scam. All of them are HYIP. Or high yield investment programs. I am not saying that nobody is earning. There are good "cloud mining" a.k.a. HYIP like genesis mining. And look what happened they stopped selling "mining contracts". Which goes to show that they are just a ponzi scheme whoever invested first will profit and those who came in late will lose everything. With minergate they have some options to earn Bitcoins but you will need to invest more. Minergate is a mining pool. Atleast this people are really mining and that is the good news.
Hi guys
Like a lot of people here I am still new to the scene, I would like to know whats the most preferred site to take out cloud mining contracts on? From what i can see the ROI seems to be around 6-8 months and then you start making profit.
1. There is a daily equipment maintenance fee on most of them, does that scale up ? Would that eventually become more than what I earn ?
2. Also how do payouts work on most of them? I have been looking at minergate, would it payout what i mined on a daily basis or does it need to reach a certain value like 0.001 BTC or something ?
3. I want to get into that, it seems like it could be profitable if you keep increasing the hashing power with some of your profit. I would only be able to spare $100 or less for now.
Thanks for taking the time to help this noob.
--------------------
Sorry mods, I saw this is the wrong thread after i Posted, you are welcome to delete this and ill post in the correct thread.
Still new here
1. It may or may not scale up, it usually goes down as they acquire more efficient equipment but that isn't always the case.Like a lot of people here I am still new to the scene, I would like to know whats the most preferred site to take out cloud mining contracts on? From what i can see the ROI seems to be around 6-8 months and then you start making profit.
1. There is a daily equipment maintenance fee on most of them, does that scale up ? Would that eventually become more than what I earn ?
2. Also how do payouts work on most of them? I have been looking at minergate, would it payout what i mined on a daily basis or does it need to reach a certain value like 0.001 BTC or something ?
3. I want to get into that, it seems like it could be profitable if you keep increasing the hashing power with some of your profit. I would only be able to spare $100 or less for now.
Thanks for taking the time to help this noob.
--------------------
Sorry mods, I saw this is the wrong thread after i Posted, you are welcome to delete this and ill post in the correct thread.
Still new here
2. It depends, you should read the FAQ at minergate or contact them to get your answer.
3. It is moderately less profitable than buying the hardware yourself and you'd gain more by just buying Bitcoin and holding it.
I wouldn't recommend it.
Hi guys
Like a lot of people here I am still new to the scene, I would like to know whats the most preferred site to take out cloud mining contracts on? From what i can see the ROI seems to be around 6-8 months and then you start making profit.
There is a daily equipment maintenance fee on most of them, does that scale up ? Would that eventually become more than what I earn ?
Also how do payouts work on most of them? I have been looking at minergate, would it payout what i mined on a daily basis or does it need to reach a certain value like 0.001 BTC or something ?
I want to get into that, it seems like it could be profitable if you keep increasing the hashing power with some of your profit. I would only be able to spare $100 or less for now.
Thanks for taking the time to help this noob.
--------------------
Sorry mods, I saw this is the wrong thread after i Posted, you are welcome to delete this and ill post in the correct thread.
Still new here
Like a lot of people here I am still new to the scene, I would like to know whats the most preferred site to take out cloud mining contracts on? From what i can see the ROI seems to be around 6-8 months and then you start making profit.
There is a daily equipment maintenance fee on most of them, does that scale up ? Would that eventually become more than what I earn ?
Also how do payouts work on most of them? I have been looking at minergate, would it payout what i mined on a daily basis or does it need to reach a certain value like 0.001 BTC or something ?
I want to get into that, it seems like it could be profitable if you keep increasing the hashing power with some of your profit. I would only be able to spare $100 or less for now.
Thanks for taking the time to help this noob.
--------------------
Sorry mods, I saw this is the wrong thread after i Posted, you are welcome to delete this and ill post in the correct thread.
Still new here
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