Cloud mining services, is it worth it ? - page 2.

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Quote from: MysteriouS87 on May 06, 2018, 05:59:45 PM

I'm not sure this is worth the investment, any thoughts?

Have you done all the calculations yet and you're still asking if it's worth it? So you want to invest and have losses, do you want to invest and make a profit as low as $ 260 a year? dude, this is more than clear, do not waste your time using cloud mining, just buy bitcoin and hold, or buy ETH and hold that you will have more bitcoins

Quote from: MysteriouS87 on May 06, 2018, 05:59:45 PM

feedback on the mentioned companies?

hashflare make many promotions, increase the minimum values of withdrawals, they seem to me that they are not well, I come to think that they are running ponzi scheme, I have no evidence and this is just my guess, I am not accusing hashflare of nothing

Quote from: MysteriouS87 on May 06, 2018, 05:59:45 PM

other recommendations?

do not waste time on cloud mining

HeRetiK

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No, cloud mining services are almost never worth it.

For the most part you will end up with a loss, having mined less coins than you initially invested. Those cloud mining users that claim fiat profits, usually would have made more profits by simply holding their coins instead of investing them into a cloud minig scheme.

Cloud mining is only profitable for the ones offering the service, not the ones investing in it. Basically it's a simple way for miners to make a safe profit off of "investors" while outsourcing the risk of difficulty adjustments and hashrate growth onto the unsuspecting hashrate buyer -- assuming the hashrate being sold actually exists to begin with.

MysteriouS87

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Hello everyone,

I'm almost new to this world so please bear with me if I went of base here or even if I didn't make any sense Grin

.

I've been looking into could mining services, in the beginning some of the websites seemed very attractive and got me really interested, but as time passes by I started to understand more and more, at this point I'm not sure if investing in Cloud mining service is even worth it !!

Two quick examples:

1- Hashflare
If i take BTC 1 year mining plan for 10GH/s I might end up with about $2.16 profit at the end of the year according to cryptocompare.com's calculator. That's even without calculating maintenance fees !
So it seems like a total loss.

2- NuVoo
They got a $200 open-ended mining plan for 1865.87GH/s. According to this on cryptocompare.com's calculator I might be able to come up with $402 worth of bitcoin a year. But then they included something called Energy daily fee of $0.00021 per GH. This basically means : (0.00021 * 1864.87) * 365 = around $142 to be deducted from my revenue/profit bringing it down to almost $260 a year.

I'm not sure this is worth the investment, any thoughts? feedback on the mentioned companies? other recommendations?

Cheers,
MysteriouS87

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