Effect of halving on cloud mining? - page 2.

Oralmat

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Quote from: pandalion98 on July 03, 2016, 11:23:47 PM

What would happen to cloud mining prices once halving arrives?

For example, HashNest's S7 price is about 0.00014 BTC per GH/s. What would happen to the price?

I'm curious since I have funds in HashNest and I'm deciding whether to pull out before the halving or just hold my breath.

Ok first of all at halving the price of bitcoin will be very high for a very short period of time, so companies like hashnest does not have to revise their rates.
Secondly, if you have a little feeling the investment sites can scam you and go offline once the BTC is at highest value, then its best to withdraw your funds from there now.

Kakmakr

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Cloud mining is a ponzi scheme, and these people divert money from user to user, which is not influenced by the Halving at all. That said, they will most probably use it as an excuse to make the hashing power more expensive and increase the maintenance fee, to make up for their fake losses. ^tongue in the cheek^

albysprx

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I get around 25k satoshis daily with my 0.15 TH/s at genesis-mining, the profit will be halved too? 25k to 12.5k~?

TemplarKnightUK

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Quote from: pandalion98 on July 03, 2016, 11:23:47 PM

What would happen to cloud mining prices once halving arrives?

For example, HashNest's S7 price is about 0.00014 BTC per GH/s. What would happen to the price?

I'm curious since I have funds in HashNest and I'm deciding whether to pull out before the halving or just hold my breath.

The price depends on the price of the hardware, not on the block reward or the profitability of the mining (well, strictly on supply and demand and what they can ask for for it, but they won't halve prices because this would make cloud mining unprofitable).

Many cloud miners are scammers, but Genesis Mining is not (they have had WEF coverage!); they for example have a clause that if mining revenue is less than electricity and other maintenance costs for a number of consecutive days (I think 20?), then the contract will be terminated.

pandalion98

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Quote from: ImHash on July 04, 2016, 03:20:52 AM

halving is not going to work because people are not just going to pay more dollars to buy bitcoin just because of halving.
If I'm right the bitcoin mining will last for decades to come even if you mine with 10000000000000000 TH/s still you get enough halving
And diff will rise to a point that again decades would take you to mine all bitcoins, market wont bend to the bitcoin's will and makes the
Price double, I think difficulty will go down and we will have to let bitcoins to be mined fully(21 M) and then let the price rise because
Only then market has no choice other than bending for bitcoin.

I don't think you know what the halving is or how mining works.

Quote from: isen on July 04, 2016, 12:07:06 AM

I have no idea but honestly do you think that it matters?All cloud mining sites are ponzi/scams and they will eventually collapse sooner or later.

I suggest you take a look at HashNest.

ImHash

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halving is not going to work because people are not just going to pay more dollars to buy bitcoin just because of halving.
If I'm right the bitcoin mining will last for decades to come even if you mine with 10000000000000000 TH/s still you get enough halving
And diff will rise to a point that again decades would take you to mine all bitcoins, market wont bend to the bitcoin's will and makes the
Price double, I think difficulty will go down and we will have to let bitcoins to be mined fully(21 M) and then let the price rise because
Only then market has no choice other than bending for bitcoin.

Enotche

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10 numbers in any checkpoint. Change profitability of mining, the complexity of the graph reaction rates and correction terahash of Bitcoin is now impossible to predict all. But we can say for sure that the cloud Mining Halving not affect, because it is a scam. Otherwise, how else to call these services, where you can even Mein dollars (this is how?).

Yakamoto

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Aside from the obvious shortfalls of cloud mining, chances are the prices of each hash will not change, and they will continue to be sold at whatever rate they are now, maybe cheaper. The thing is the value of Bitcoin in the changing variable in all of this; not the value which the hashing power mines. The value will always have to at least equal the cost, and as such the amount of Bitcoin mined decreases, but the value it generates technically doesn't change, assuming I understand the economics of it correctly.

isen

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I have no idea but honestly do you think that it matters?All cloud mining sites are ponzi/scams and they will eventually collapse sooner or later.

asriloni

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I think the price will still equivalent to 0.00014 in fiat but only the amount of bitcoin different just following the currenct price and could changing everytime,bitcoin will not going to giving affect that constant it'd need a time and the price per GHS will need a time too to change

pandalion98

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What would happen to cloud mining prices once halving arrives?

For example, HashNest's S7 price is about 0.00014 BTC per GH/s. What would happen to the price?

I'm curious since I have funds in HashNest and I'm deciding whether to pull out before the halving or just hold my breath.

Topic: Effect of halving on cloud mining? - page 2. (Read 1104 times)