Also you should understand that mining is pretty expensive when it comes to the part of paying for that , the electricity is too expensive when you use the big softwares needed for the part of profitable mining.
Instead of that if you use some minor softwares you won't be able to get that much profit as compared to the things that you are paying for that .
Also it's banned at some places , other than that trading in altcoins and Bitcoins have been proven to be much more beneficial.
Don't indulge in mining if you are not a pro , it will likely be a waste of time effort and money.
Invest , trade , earn.
Topic: Mining in the cloud vs simply buying bitcoin - page 9. (Read 1640 times)
Buy bitcoins then you will get real bitcoin,if you go for cloud mining sites to make bitcoins then they will run away with your invested money.
Mining is dependent but cloud mining is easy and can be done by anyone but the only downside is that its verry risky since most of the are known to be a scam and wont lost a longer time .
If you don't know much about cloud mining then just search it on google you will get a result of only cloud mining scam threads.Actually it is profitable when you did that few year back and only for few times and those profits comes from the investors capital they invested after you so its just like a pyramid kind of investment.It wasn't profitable since 2015, lots of cloudmining that exist that time closed due to the fact that their maintenance cost is way more than what they are gaining. CEX.IO was once the most largest cloudmining in the industry but they closed that service because of the same reason. It is best to buy a whole Bitcoin than invest in cloudmining for the reason that you get what you bought. If you are enticed by the lifetime contract, wake up, many cloudmining had offer this and yes they are true to their word because customers had their contract effective until the company shutsdown or turned into a scam. Lifetime contract refers to the existence of the company not the existence of the world
. And most of those who bought these contract never got their ROI.
If not from a trusted farming firm then i really don't like cloud mining platforms and putting all the difficulty adjustments in place you would realize that it is very unlikely to get that 1.6 BTC you spoke about. So why take the risk of investing into cloud mining which sometimes don't pay its users their exact quota of the block reward when you can buy and hold bitcoin for like a year and earn profits from it.
Mining is dependent but cloud mining is easy and can be done by anyone but the only downside is that its verry risky since most of the are known to be a scam and wont lost a longer time .
If you don't know much about cloud mining then just search it on google you will get a result of only cloud mining scam threads.Actually it is profitable when you did that few year back and only for few times and those profits comes from the investors capital they invested after you so its just like a pyramid kind of investment. Most of the cloud mining sites are scam and the legits ones are not profitable anymore,if you want to mine bitcoin either you can mine on your own but it needs huge capital to build your farm or just buy bitcoin.
Cloud mining is great but you need good internet.
No,mining doesn't depend on the internet speed,very decent stable connection is enough for mining only the hash rate decides your mining rate.
right, internet speed is not a problem, the problem is the cost, and care that we need to spend. in this case, I was really interested in mining, but only limited to studying it. so far, I prefer to collect bitcoin directly. I think it is faster, although it is a bit troublesome and risky.Cloud mining is great but you need good internet.
Mining is dependent but cloud mining is easy and can be done by anyone but the only downside is that its verry risky since most of the are known to be a scam and wont lost a longer time .
Most of the cloud mining sites are scam and the legits ones are not profitable anymore,if you want to mine bitcoin either you can mine on your own but it needs huge capital to build your farm or just buy bitcoin.
Cloud mining is great but you need good internet.
No,mining doesn't depend on the internet speed,very decent stable connection is enough for mining only the hash rate decides your mining rate.
right, internet speed is not a problem, the problem is the cost, and care that we need to spend. in this case, I was really interested in mining, but only limited to studying it. so far, I prefer to collect bitcoin directly. I think it is faster, although it is a bit troublesome and risky.Cloud mining is great but you need good internet.
I've invested in cloud mining in the early days but they all end up as scam.
Buying bitcoin if we have bough it early, it would already make us rich after the bull run last 2017.
I would buying shitcoins than investing in cloud mining as I have proven I can make money with shit coins, don't know this time around if bull run is strong.
Buying bitcoin if we have bough it early, it would already make us rich after the bull run last 2017.
I would buying shitcoins than investing in cloud mining as I have proven I can make money with shit coins, don't know this time around if bull run is strong.
if you are looking for a good investment for your future and for a continues income then build a mining farm.
With a budget of 1 Bitcoin or $7000+ it's better to hold one than to buy his own rig because most of the expensive and efficient miners are out of stock. Mining would only become an option if there's a way to reduce the costs (i.e. cheap electricity) because the hash rate and price can stop miners from profiting.
Mining is generally not particularly beneficial. But if you whant to say that mining is definitely less profitable than buying cryptocurrency will not be true. It all depends on when you go into mining and when you buy a cryptocurrency. It is very important. If you, for example, bought cryptocurrency at $ 10,000 that year and it began to fall and fell all year, then until today you are still in the red. But if you are mining, by investing in equipment, you get cryptocurrency at the price of electricity and you can afford to accumulate it to the next bull market and then sell it more profitably. I made calculations that confirmed my guess that mining could be more profitable.
Most of the cloud mining sites are scam and the legits ones are not profitable anymore,if you want to mine bitcoin either you can mine on your own but it needs huge capital to build your farm or just buy bitcoin.
Cloud mining is great but you need good internet.
No,mining doesn't depend on the internet speed,very decent stable connection is enough for mining only the hash rate decides your mining rate.
right, internet speed is not a problem, the problem is the cost, and care that we need to spend. in this case, I was really interested in mining, but only limited to studying it. so far, I prefer to collect bitcoin directly. I think it is faster, although it is a bit troublesome and risky. Cloud mining is great but you need good internet.
I think cloud mining in general is not profitable.
Here are my calculations for Mining Cloud vs Buying Bitcoin.
All following calculations are done on annual basis.
All following calculations are done WITHOUT halvings and adjustments counted until you read later down.
Hash rate (total hash power of the world) close to 49 Mil. Th/S as of today May 17, 2019.
Every hour gives the world 6 blocks, multiply that by x 24h x 365 days= 52,560 blocks produced in the world in 1 year.
Currently there are 12.5 bitcoin mined per each block x 52,560 blocks= 657,000 bitcoin can be mined per year in the world if no adjustments and halvings happened.
49 mil. Th : 657,000= about 75 TH/s to mine 1 bitcoin as it stands now, before counting adjustments and halvings.
Let’s assume I bought 1 bitcoin today and paid about $7,200 (as of May 17, 2019) in a hope to sell it in 1 year at a higher price.
Now let’s see what would happen if instead of buying 1 bitcoin I invested the same amount of money in cloud mining.
Typical contract from a firm like Genesis Mining offers 1TH at a rate of about $60 all-inclusive per year (May 17, 2019), and that's including maintenance and other fees.
For $7,200 I can buy about 120TH for 1 year term of cloud mining.
120Th : 75Th per 1 bitcoin= that should give us 1.6 bitcoin over 1 year period of contract for the price of $7,200.
1.6 bitcoin is obviously more then 1 bitcoin which I can buy today, so cloud mining is better, right?
I think NOT, because remember we have not counted difficulty adjustments and halvings yet.
Now let’s do that, let's include them in the picture.
The next halving is in about 1 year, so we don’t have to take it into our example as the contract will be over by the time of halving, so for now we just have to worry about difficulty adjustments.
But from historic data I never seen those adjustments less then 100% year over year and usually it’s even more.
So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.
Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.
Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?
Of course it isn't profitable anymore if you want to mine Bitcoin do it on your own build your own miner don't invest in a cloud mining .Here are my calculations for Mining Cloud vs Buying Bitcoin.
All following calculations are done on annual basis.
All following calculations are done WITHOUT halvings and adjustments counted until you read later down.
Hash rate (total hash power of the world) close to 49 Mil. Th/S as of today May 17, 2019.
Every hour gives the world 6 blocks, multiply that by x 24h x 365 days= 52,560 blocks produced in the world in 1 year.
Currently there are 12.5 bitcoin mined per each block x 52,560 blocks= 657,000 bitcoin can be mined per year in the world if no adjustments and halvings happened.
49 mil. Th : 657,000= about 75 TH/s to mine 1 bitcoin as it stands now, before counting adjustments and halvings.
Let’s assume I bought 1 bitcoin today and paid about $7,200 (as of May 17, 2019) in a hope to sell it in 1 year at a higher price.
Now let’s see what would happen if instead of buying 1 bitcoin I invested the same amount of money in cloud mining.
Typical contract from a firm like Genesis Mining offers 1TH at a rate of about $60 all-inclusive per year (May 17, 2019), and that's including maintenance and other fees.
For $7,200 I can buy about 120TH for 1 year term of cloud mining.
120Th : 75Th per 1 bitcoin= that should give us 1.6 bitcoin over 1 year period of contract for the price of $7,200.
1.6 bitcoin is obviously more then 1 bitcoin which I can buy today, so cloud mining is better, right?
I think NOT, because remember we have not counted difficulty adjustments and halvings yet.
Now let’s do that, let's include them in the picture.
The next halving is in about 1 year, so we don’t have to take it into our example as the contract will be over by the time of halving, so for now we just have to worry about difficulty adjustments.
But from historic data I never seen those adjustments less then 100% year over year and usually it’s even more.
So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.
Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.
Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?
It is better to build your own rather than trusting your money on them because for me they are only a scam site .
Or if you want you could just buy Bitcoin rather than mine it but if you are looking for a good investment for your future and for a continues income then build a mining farm.
So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.
Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.
Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?
Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.
Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?
You are right, luck is a huge factor in the equation. The difficulty sometimes rise, sometimes drops; of course, overall it rises more than it drops. I didn't do the math, but I think that there's also a chance for profit. So instead of your max 0.8 BTC, there could be something like 0.5(?)-1.25(?) BTC range.
Your conclusion is, however, correct. It's not worth the risk. (And I'd not even insist on how many fake cloud mining companies are around, let's just keep the calculation on legit ones.)
I am not really familiar how cloud mining works but according to some sources I read it is called as just downright scam or just plainly ineffective programs when we talk about real return on investment (ROI). However, many people are still attracted into cloud mining programs because most of them are promising good returns to entice investors (tiny investors especially) to come in and stake some money.
Quote
Cloud mining is a term for companies that allow you to rent mining hardware they operate and maintain in exchange for a fixed fee and a share of the revenue you’ll make. It basically means that you can mine remotely without the need for buying expensive hardware. Most, if not all, cloud mining companies today are either plain scams or work through an ineffective business model. By ineffective I mean that you will either lose money or earn less than you would have by just buying and holding Bitcoins.
Source: https://99bitcoins.com/bitcoin-mining/cloud-mining/
Source: https://99bitcoins.com/bitcoin-mining/cloud-mining/
Most of the cloud mining sites are scam and the legits ones are not profitable anymore,if you want to mine bitcoin either you can mine on your own but it needs huge capital to build your farm or just buy bitcoin.
Cloud mining is great but you need good internet.
No,mining doesn't depend on the internet speed,very decent stable connection is enough for mining only the hash rate decides your mining rate.
Cloud mining is great but you need good internet.
Cloud mining is a no no for me, it will takes months-years to get ROI on cloud mining and you also need to think what will happen in the future to bitcoin, because it will affect the cloud mining for sure.
Also there are so many cloud mining scam site out there, I rather to simply buying bitcoin and trading.
Also there are so many cloud mining scam site out there, I rather to simply buying bitcoin and trading.
Its better to build your own rig to mine Bitcoin or buy Bitcoin to hold than do cloud mining. I don't trust them anymore since i got scammed before when i was still new to Bitcoin. At first that site is giving profit but then they suddenly run and i was nkt able to profit or even get my initial investment.
Cloud mining is great but you need good internet.
I don't understand it but I think I will be investing my money into other things that do cloud mining. I mean I will be wasting my PCs life into something I don't know if I will get paid into or not. If you will be asking me, I still like buying a rig for Bitcoin mining and yes, that is expensive and I hope you should also consider that mining nowadays is not a walk in the park. As time progresses, mining gets harder and harder.
If the current cloud mining situation is running, is that also not profitable? Of course the investment spent is quite large, I think rather than not being implemented there is better to keep going and hope there will be an increase in the price of bitcoin in the future.
If you might just think about starting from the beginning cloud mining, it never hurts to count as well as possible so as not to lose.
If you might just think about starting from the beginning cloud mining, it never hurts to count as well as possible so as not to lose.
Cloud mining is well known by being unprofitable. Nowadays it's really out of fashion, as it was already unmasked years ago. Many people invested on it and regret a lot later, because they were unable to recover at least the amount they invested initially.
And when the cloud mining investment looks too good to be true, it's a hyip investment and doesn't involve any mining operation. It's much better to just buy bitcoins and hold. The right thing to do would be to build your own mining operation, as was said, but it doesn't worth for most investors, considering the machinery and electricity costs. Forget about it.
And when the cloud mining investment looks too good to be true, it's a hyip investment and doesn't involve any mining operation. It's much better to just buy bitcoins and hold. The right thing to do would be to build your own mining operation, as was said, but it doesn't worth for most investors, considering the machinery and electricity costs. Forget about it.
Its better to build your own rig to mine Bitcoin or buy Bitcoin to hold than do cloud mining. I don't trust them anymore since i got scammed before when i was still new to Bitcoin. At first that site is giving profit but then they suddenly run and i was nkt able to profit or even get my initial investment.
It's true, cloud mining is now different from when cloud mining first appeared, now cloud mining is dominated by scams, many of my friends are victims of cloud mining investments, fortunately I have not been interested in that, I also prefer to buy bitcoin from in mining either at home or in the cloud, if I do mining at home it will require a lot of costs such as electricity and internet and other maintenance costs, instead of getting a profit maybe I will only spend a lot of capital without satisfying results,
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