Topic: i have 400$, i cannot buy a good miner, is cloud mining a good idea in this case (Read 811 times)
April 05, 2022, 12:02:50 PM
To me must of this cloud mining site are scam. So the best thing to do is to buy Bitcoin with your money. Because even legit cloud mining site wouldn't give you a good profit and sometimes hard before you get back your money. Is better to avoid being scam by cloud mining site especially, the free mining site. The better way is just to buy you equipment instead, because cloud mining is never a good idea.
April 04, 2022, 06:05:09 AM
It's been said a few times above, just buy what Bitcoin you can with your funds. Mining is like committing long term to bitcoin with initial upfront and ongoing costs... the deliverables ultimately being bitcoin.
April 03, 2022, 06:14:29 PM
Dont ever use a cloud mining site unless its verified by lots of people. The "free" ones scam you and take your crypto.
Even verified or legit cloud mining sites won't give you the best profit. And hardly, you will get the ROI of your money. This is why, even legends here are not advising to invest on a cloud mining site. Better buy your own equipment. At least, if you are not earning anymore from that equipment, you still have the hardware that you can use for other purposes or something to sell. But with cloud mining, once they stop paying you, hard to run after them. Your money is considered lost.
April 03, 2022, 06:10:02 PM
op could look into helium mining gear , $450-700 equipment cost , 1k for a nice setup
5~ watts a day
depending how its set up can make up to $5-$10 a day realistically looking at $2-$5 a day though with a easy setup.
go for a bobcat
5~ watts a day
depending how its set up can make up to $5-$10 a day realistically looking at $2-$5 a day though with a easy setup.
go for a bobcat
April 03, 2022, 03:24:01 PM
So how is it going? How much time would it take to pay off 350$?
You're right, it hasn't been going very well. Right now the daily profit is $0.50 for me, meaning the payback time is 700 days. Profit dipped to near zero many times this month. Bad decision. I just bought a bunch of Antminer L3+'s for $600 each, and the payback time on those is 350-400 days. Well, the Goldshell was my first ASIC miner, so good thing I only paid $350 for it.
April 03, 2022, 03:42:32 AM
Can't you just buy a Goldshell LB-BOX ASIC miner? They only use 150w and they're very quiet. I bought mine for $350 or so 2 weeks ago.
So how is it going? How much time would it take to pay off 350$?
I've checked this cheap miner via mining calculator and with 0.06$ per wt it shows that you would lose 2 cents daily only for running it. Pretty sure it is hard to find cheaper electricity so unless you are stealing it (or running a solar panel). SO right now it seems like a waste of 350$ and further losses. it is better just to buy BTC.
April 02, 2022, 10:22:28 PM
Can't you just buy a Goldshell LB-BOX ASIC miner? They only use 150w and they're very quiet. I bought mine for $350 or so 2 weeks ago.
April 01, 2022, 12:33:23 PM
Kucoin recently sold another round of their mining contracts. I have calculated that buying a contract and hodling mined BTC for all 220 days would get the same revenue just as if you bought BTC for roughly 36k$. Right now it seems like a good deal but it was not so clear when people bought contracts while BTC was at 40k$.
Generally, if you find a legit service provider then you may try it. If BTC goes up then you are cool.
Generally, if you find a legit service provider then you may try it. If BTC goes up then you are cool.
March 20, 2022, 10:26:08 PM
Dont ever use a cloud mining site unless its verified by lots of people. The "free" ones scam you and take your crypto.
March 17, 2022, 06:44:47 PM
Recommendation is not to do cloud mining and instead save up additional funds in order to buy a good miner.
March 14, 2022, 08:01:12 AM
my question up 
, but lets just say
, but lets just say pls response to this question
Cloud mining is a scam, almost all! Don't believe it! , it is better to buy bitcoin directly! As for what machine you recommend to buy, it depends on the electricity cost of your mine.
February 26, 2022, 08:38:58 AM
i have done it in nicehash . and the result is the same as buying bitcoin directly on the market even i lost more money. In the past, I usually used cloud mining for rent hah power to mining new coin mining, which still having high blocks reward and low difficulty. and for fun purposes only. the point is cloud mining is not worth it. and if you still want to try and do it. be careful! real cloud mining is like you rent someone else's miner. not like an MLM investment or money game. many people still fall for the Ponzi system that claims to be cloud mining.
We'd better go for buying bitcoins if the result is still the same as when we cloud/mine because the goodness of buying a btc is it is on the go, you can do it anytime, anywhere with no commitments. You are also holding the btc that you bought so it is more safer unlike to cloud mining where you deposit btc in the platform but nicehash might be a legit cloud mining since it is always been recommended by the users.The only problem is like you said can be the potential earning that we can get is small and doesn't meet our expectations. If its purpose is for fun only, I don't think someone can enjoy the process of waiting. I mean you are not doing the actual thing (mining).
February 26, 2022, 07:04:38 AM
my question up , but lets just say
, but lets just say pls response to this question
This is a possibility. However, you should check the legitimacy of the operator beforehand. Do not calculate in USD but in the cryptocurrency you want to invest in.
February 24, 2022, 02:33:31 PM
you could use miningrigrentals.com (pm me for ref if you want)
I'm kind of shocked it hasnt been mentioned before a service such as nicehash or bitdeer?
the next best thing is to get a graphics card for around $400 and get your foot in the door that way.
I'm kind of shocked it hasnt been mentioned before a service such as nicehash or bitdeer?
the next best thing is to get a graphics card for around $400 and get your foot in the door that way.
February 22, 2022, 05:19:35 PM
i have done it in nicehash . and the result is the same as buying bitcoin directly on the market even i lost more money. In the past, I usually used cloud mining for rent hah power to mining new coin mining, which still having high blocks reward and low difficulty. and for fun purposes only. the point is cloud mining is not worth it. and if you still want to try and do it. be careful! real cloud mining is like you rent someone else's miner. not like an MLM investment or money game. many people still fall for the Ponzi system that claims to be cloud mining.
February 21, 2022, 12:04:36 AM
A tough one, I would say no, at 400, if you are looking for stable returns I would start by finding some single sided staking options!
February 20, 2022, 01:17:10 AM
Mining projects are mostly scams. So I advise you to stay away from these, you can do small trading of it and make some money from it.
However, you must have experience in trading. Because if you don't know it properly then you are likely to lose all your money,
However, you must have experience in trading. Because if you don't know it properly then you are likely to lose all your money,
February 10, 2022, 09:39:03 PM
Cloud mining is completely fraudulent because there is no system that can generate such high income with the money we give, instead, very high earnings can be obtained in the staking event of unknown cryptocurrencies. If you are going to staking, you should know the project well and trust that project, so that you can gain big profits both when it increases and with the stake you make. This process is definitely more reliable than cloud mining if you ask me.
February 09, 2022, 04:50:34 AM
my question up , but lets just say
, but lets just say pls response to this question
I will support all of the above, cloud mining is most often not exactly the way you imagine it, most often fraud, I have not met cloud mining, which is really transparent and brings income to its miners.
February 08, 2022, 07:43:00 AM
I am familiar with cloud mining. It was in 2017. I made no deposit for cloud mining, starting with Bitcoin/altcoin rewards, usd, pound, ruble and so on. almost all scams in a matter of days and do not pay. sad. at that time it was very popular, even though on the web it was promised with a hashrate that varied every hour. days and months and even years. really tempting. including the free one without a deposit, it feels very slow even though if you are lucky you might be able to deposit/buy the features offered. It was the Hyip era and it was like mining for an unreasonable profit
the rest, what other users above are talking about bitdeer and antminer, I don't have the money to buy them and don't know what it's like to mine with those tools.
In conclusion, as long as I know cloud mining, I can't get any profit.
really (OP) which cloud mining would you like to try?
the rest, what other users above are talking about bitdeer and antminer, I don't have the money to buy them and don't know what it's like to mine with those tools.
In conclusion, as long as I know cloud mining, I can't get any profit.
really (OP) which cloud mining would you like to try?
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