Topic: Cloud Mining Viable in 2017? - page 4. (Read 6764 times)

HashNest is the best bitcoin clouding mining platform.
All the hashrates are based on AntminerS7 and Antminer S9. With rising of BTC, ROI is shorter now and you can also buy/sell hashrates at any time in the market on HashNest.
Easy, credit and profitable!

http://themerkle.com/genesis-mining-review/


IMO, Legit because it's not a scam site, but ROI you never see them again. In this case, you will get ROI - Your maintenance cost = Your final result.

Cloud mining = most of them scam
Genesis mining = it looks profitable but you have to wait for more than 2 years to get your ROI back

Please read hidden terms each of the cloud mining contract have, they will stop mining when reward will be lower than maintainance fee. Also with rapid development of new efficient mining hardware mining with older hardware will be insignificant to get some profit out of them.

There are two factors influencing the profitability of cryptocurrency mining systems, not just price levels.

For example with bitcoin, beyond prices of bitcoins, difficulty of bitcoin mining network will decide how much share you will get for your mining has power. No one will able to predict the growth of this difficulty factor accurately hence that calculator does need to be accurate.

I don't think cloud mining has ever been "viable"... and after the most recent halving, I doubt any reputable cloud mining service will be able to provide much in the way of return. The numbers just don't stack up.

Honestly, the sooner the whole cloud mining industry disappears, the better as far as I'm concerned. Then we won't get so many threads asking if "XYZ Cloud Mining Inc" is a legit operation

Unless the price of bitcoin falls, then the contract will be suspended until it's profitable (so maybe never again, because of the growing difficulty and the growing competition).

You can't look at a short period to claim that you will reach ROI. Bitcoin is so volatile that's simply not predictable.
While in the long run bitcoin prices will be skyhigh (I surely hope so), it's still possible that you never reach ROI.

Yes Cloud mining which is genesis mining is viable, only thing before you get back your ROI will take more months, that depend on the flow of the current price of bitcoin the more it grow more is more favorable to to you. But once the value decreases the period of your ROI will also be extend.

To be back on topic... If ur looking to long term....simply buy n hold Bitcoin for a few years.

Okay, so thats exactly what I will do then. ''upgrade my BTC acc with 400 EUR'', getting me to 0.7 btc on exchange +-. 36 EUR in ether, basically buying me 3 extra getting me to 8.5 ether in exchange, and then 64 about 12,25-12,50 EUR in 5 different altcoins which I think are viable? (Ripple, Maidsafe, etc.)

Thanks for the advice, definitely stay in touch, as I will keep posting my crypto investment journey and think it can be an interesting read for beginners and expert investors alike. Once more thanks a lot for the recommendations.

Seems okay to me. Biggest part in BTC, and the rest diversified.

Hi Brobbel, once again,

So what do you suggest, should I do like (assuming I deposit 500 Dollar or Euro): 400 in BTC and then lets say 36 in ETH and 64 in altcoins? What mix do you suggest for a $500/500 EUR deposit for a newbie?

Kind regards,

Dennis

I think BTC is the most common crypto currency, so I hold most of it in BTC.

The other ones I hold are together no more than 50% of the BTC-value. When the value is growing over 25% I start to think about exchanging to BTC and when I think the time is right I do an exchange.

Thanks for all the advice, I have now +-20 hours spend in watching docus, analysis, reading stuff on forums and have decided that doing $6 in those 5 I said before is WAY better than $30 in cloud mining.


I will keep all of you updated in my cryptocurrency trading as I think it can serve as a value for others wishing to start the same business in feb 2017.


SO far:

I own 0.4 BTC total, 0.1 BTC in cold wallet (safe) 0.3 on the exchange.
5.5 Ethereum, all on the exchange, to either trade commissionless (yes 0.0%) versus BTC or versus EUR or USD. I basically use it as sort of a hedgebet, as in my newbie oppinion if BTC rises ETH falls and vice versa, could be wrong.

I am happy to say that I am trading this just one day (almost 2 now) and that I bought 0.1 BTC at 959 yesterday and sold for 992 today (EUR), small profit but still after transaction costs profit and profit is profit in trading world. In the near future I would never ''cash out'' such a small amount to cold wallet, but it was just to see how it worked basically (exchange to cold wallet and what I keep), don't really care bout a buck or five. I am now considering spreading this 0.1 BTC (about $100 for all you USA Cryptoinvestors) in the 5 cryptos suggested earlier on, 0.02 BTC in each, what do you guys think? Please be aware that I do not call myself a day trader and am more a buy and hold kinda guy + I love diversification. Comments, suggestions, advice all welcome and highly appreciated.

I am about to deposit another $500 into the crypto economy by tomorrow, what mix of btc versus eth do you guys suggest?

if you compare about profit or return of investment, trading and cloud mining
is trading still the best and above cloud mining, profit in cloud mining is very low

cloud mining were good in the past? i don't remember such thing, they were always bad trying to steal money form investors and working as a HYIP, aside from few of them like hashnest and bitcoingenesis all the other are scam, in the past was more easy for them to scam because many naive people were investing


they are both not really well accepted, but yes ethereum original is better than classic, but classic solve some problem with centralization

ROI time depends on
1) date of investment
2) sort of investment (SHA256/Scrypt/Zcash/Ethereum/X11)
3) amount of investment

So ROI in a year is possible, but not for most. Barely half of the money is also possible, for a bigger part. And most are somewhere in between.
And after ROI there is profit - if you reached ROI.

Could you please stop spreading false info? To get ROI with them you'll need much more than a year, people are getting barely half of their money back in a year!
No, it's not a good idea to invest.

Think of the longest ROI and multiply by 2 Also, you won't be getting any profits from this, they will take care of that. Even if you ever get ROI it will only mean getting your money back but you haven't invested to get money back! You did it to profit!

It is not good idea to freeze your money in cloud mining company with very low profit rates, there are better investment opportunities in some altcoins and ethereum tokens, you can buy a new promising token if you are looking for a long time investment, I personally hold ICONOMI as long time investment, this token will give you dividends for holding it, the team will release their first product soon.

Nowadays, only the owner of the cloud mining company has a profit, This is not to say that you invested in a cloud mining company like genenis mining will not make a profit, you will make a profit, but your profit will be very low plus the withdrawal rates, you end up with little profit and with many headaches.

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Think long before investing in  genesis mining, making  trade BTC/USD is very profitable.

Making altcoin trade becomes very risky and you can lose money with it.

But to my knowledge ETH is better accepted then ETC. Please correct me if I'm wrong.