Cloud mining minimal TH/s needed to be profitable

hello_good_sir

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Quote from: Andromed4 on August 26, 2017, 01:03:41 PM

I was looking into some cloudmining and couldn't really find a clear answer on
how much TH/s you need to invest to make profit?

Anyone care to explain.

Was looking in hashflare cloudmining.

I think that magneto's answer is the most accurate.

The more you invest the more likely you are going to lose. Let's face it, unless you are able to refer some user into whatever service you are using you are likely not to gain much of a profit from investing in cloud mining.

Don't buy the crap that youtubers are trying to feed you. They only invest in cloud mining because they know they can get other people into it, and they earn a percentage. So really, it's more of a pyramid scheme than actual bitcoin mining.

magneto

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Quote from: Andromed4 on August 26, 2017, 01:03:41 PM

I was looking into some cloudmining and couldn't really find a clear answer on
how much TH/s you need to invest to make profit?

Anyone care to explain.

Was looking in hashflare cloudmining.

The more you invest, the more you lose. That is the fact with cloud mining and cannot be changed.

Just think about it, why would any logical person offer you something profitable that you can profit from when they could make much more by just investing in it themselves? They are either a ponzi scheme, or you will never make back what you put in.

I'm sorry to break your dreams, but this is very important. If you buy your own mining equipment you'll still be at a loss when you mine, let alone when someone else maintains everything for you.

Ctn

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Quote from: Andromed4 on August 26, 2017, 01:03:41 PM

I was looking into some cloudmining and couldn't really find a clear answer on

how much TH/s you need to invest to make profit?

Anyone care to explain.

Was looking in hashflare cloudmining.

There is no such thing as minimal hash power required to overcome ROI. Know that the more you invest money, the equal is the time required to get back ROI. The difficulty is real bitch in the world of mining plus they will also charge you electricity cost while paying you out. This gets difficult one to calculate everything and each time you will see the ROI is difficult to achieve. More investment is more hash rate but it is also more time and energy required. Finally there is one more thing which already mentioned above, cloud mining is scam. ;-)

mobnepal

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Mining with latest mining hardware like antminer S9 in your own small mining farm is more profitable than any cloud mining contracts. But if you are not from a country where electricity is free or price per KWH is less than 5 cents than also running a mining farm in your backward will not be profitable.

Cloud mining sites are just selling more mining power than they really have.

Yudhisthir

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www.Artemis.co

Quote from: ss890 on August 27, 2017, 12:02:20 AM

Quote from: BigBoy89 on August 26, 2017, 06:39:47 PM

Just use https://www.coinwarz.com/cryptocurrency and their calculator.

And add increasing difficulty over time and so on.

But keep in mind that most, if not all, of cloud mining services are pure scams of just ponzi's.

Yeah the data calculator and the maths everything is real scam when it comes to cloud mining stuff. For any of the cloud sites mentioned above the ROI would be around one year looking at the current rate difficulty as well as unpredictable future. What I mean by the future is, whether these sites will last that long or will it shut down due to no profitability by the site itself. Many things concerns me when investing into the cloud mining sites. Though there are lots of proofs about it I still don't believe it. So in such situation it is better not to invest in it.

Whether it's scam or not, they would not be able to provide you the same amount of profit with increasing difficulty for your once a time investment.
It's better to have your hardware with yourself.

ss890

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Quote from: BigBoy89 on August 26, 2017, 06:39:47 PM

Just use https://www.coinwarz.com/cryptocurrency and their calculator.

And add increasing difficulty over time and so on.

But keep in mind that most, if not all, of cloud mining services are pure scams of just ponzi's.

Yeah the data calculator and the maths everything is real scam when it comes to cloud mining stuff. For any of the cloud sites mentioned above the ROI would be around one year looking at the current rate difficulty as well as unpredictable future. What I mean by the future is, whether these sites will last that long or will it shut down due to no profitability by the site itself. Many things concerns me when investing into the cloud mining sites. Though there are lots of proofs about it I still don't believe it. So in such situation it is better not to invest in it.

BrewMaster

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There is trouble abrewing

hashrate doesn't affect cloudmining's profitability. the different fees they take and the price and the difficulty and them being scam or not affects the profitability instead!

i used to do some mining in cex.io and by that time you could easily earn something even with the small GHS and even sell that GHS when its price went higher.

socks435

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Privacy is always important

There re many newbie asking for cloud mining that the fact is no cloud mining site are really profitable unless if you are the owner of the miner..
I never heard that there are cloud mining site that can gives you profit even you are buying high has power in the end you will be still scam..
Much better to buy bitcoin and hold and wait for the price increase and sell than you are investing your money to cloud mining and accept to be scam in the end.. so for those newbie better to don't invest and better to find other way to make profit..
Make your own mining rig and mine altcoin that i think its more profitable than cloud mining

BigBoy89

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Just use https://www.coinwarz.com/cryptocurrency and their calculator.

And add increasing difficulty over time and so on.

But keep in mind that most, if not all, of cloud mining services are pure scams of just ponzi's.

philipma1957

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'The right to privacy matters'

well not to argue but hashnest is fairly good.

will you make a profit maybe maybe not.

www.hashnest.com

1 th costs you 0.06279 btc that is 270 usd

a 7th miner from canaan.io shipped to you home cost you 800 usd

so in one case you get 3th for 810
the other case you get a 7th miner for 800

you need to buy a psu for that miner. if you have 120 volt power that will be 220 more so yo spend 1020 for 7th and have the miner in your house

you need to buy or build a rasp pi 3 controler fro that miner say 80 so

1100 usd gets you 7th in your garage

and 810 usd gets you 3th in the cloud so lets bump to

4.5 th and 1100 cloud or 7 th and 1100 in your garage

if you have 20 cent power it is costly to mine

the cloud charges about 8 cents for power

so the edge is closer then you think if you have 20 cent power at home with 120 volts.

Andromed4

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Thnx

wmabern

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Visualize whirledps

Quote from: HagssFIN on August 26, 2017, 01:06:58 PM

Cloud mining is a scam.

Try renting hashrate from Nicehash and point it to a pool if you are interested.

Do your research and then go for it or not.

To the OP,
What HagssFIN said. Don't waste your time or money on anything "cloud mining" related. The only two legitimate services to rent from - that I am aware of - is NiceHash, like HagssFIN said, or MRR -Mining Rig Rentals.

I am partial to MRR for a number of reasons. Their rentals may/will be a little bit pricier, but IMO, you get a better quality rental experience. If your rental doesn't meet a certain standard, you will be reimbursed for the lack of speed or time. You can also pick and choose what miners you want to rent and from whom.

I have used both services many times in the past. There are quite a few other reasons I prefer MRR, but no need to go into them here. Read up on both services and make a choice for yourself.

Stay away from other services that promise you the moon but give you very little or nothing at all.
Good luck.

HagssFIN

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Electrical engineer. Mining since 2014.

Cloud mining is a scam.

Try renting hashrate from Nicehash and point it to a pool if you are interested.

Do your research and then go for it or not.

Andromed4

newbie

Activity: 63

Merit: 0

I was looking into some cloudmining and couldn't really find a clear answer on
how much TH/s you need to invest to make profit?

Anyone care to explain.

Was looking in hashflare cloudmining.

Topic: Cloud mining minimal TH/s needed to be profitable (Read 541 times)