Using a Buy on Nice Hash to mine altcoin - anyone experience you could share ?

TheShire

newbie

Activity: 33

Merit: 0

Quote from: chesatochi on January 25, 2018, 06:17:02 PM

The real truth about cloud mining like Nice Hash is you are not going to make a return to your cloud mining contract. This business model is only good to get more money for the company.

Why a company rents his hashing rate when it can only make money for himself? Buying mining contracts will not bring the money back in your pocket.

You should avoid it, and if you really want to mine, why not build your own mining rig as a hobbyist instead.

if its profitable in future I will build one or buy one , in uk

chesatochi

sr. member

Activity: 812

Merit: 252

The real truth about cloud mining like Nice Hash is you are not going to make a return to your cloud mining contract. This business model is only good to get more money for the company.

Why a company rents his hashing rate when it can only make money for himself? Buying mining contracts will not bring the money back in your pocket.

You should avoid it, and if you really want to mine, why not build your own mining rig as a hobbyist instead.

TheShire

newbie

Activity: 33

Merit: 0

Quote from: Minnie1928 on January 25, 2018, 05:04:56 PM

The problem with the bought hash power is the final calculated expense that you must take into consideration. There is a slight chance that you can make a profit if you are choosing the hash to mine the altcoin that is still low in value but has a high perspective to make a breakthrough in the market. Before even joining and renting the hash try to analyze and investigate the best sites for the rentable hashes and even best possible altcoin with the perspective to fulfill the goals they have put ( I know that you are evaluating the Nice hash but there are better and more reputable sites) before them. Another problem that the rentable site, in this case, the Nice Hash, is presenting is the expense of the renting in the 24 hours that you are renting. You must calculate the quality, expense, and return of the mentioned hash.
I personally would invest in my own rig with the bankroll that is accumulated through the time. Rentable hash is passable and with your own mining rig; if you are not satisfied with the result of the hashed coin in the end at least you know that you don't have to rent hash for another 24 hours because you have your own mining equipment. Try to make the investment into hardware and it will bring you tremendous profit back in a long term.

Minnie - thank you very much for your reply ... its pretty hard getting off the ground with taking the right path ... and reading the right advice ... I now know in your opinion that you can make profit with GPU rigs , I wondered how you could do this

I have M3 from china coming next month Asic and v much interested in altcoin too... any advice welcome

Minnie1928

member

Activity: 140

Merit: 14

The problem with the bought hash power is the final calculated expense that you must take into consideration. There is a slight chance that you can make a profit if you are choosing the hash to mine the altcoin that is still low in value but has a high perspective to make a breakthrough in the market. Before even joining and renting the hash try to analyze and investigate the best sites for the rentable hashes and even best possible altcoin with the perspective to fulfill the goals they have put ( I know that you are evaluating the Nice hash but there are better and more reputable sites) before them. Another problem that the rentable site, in this case, the Nice Hash, is presenting is the expense of the renting in the 24 hours that you are renting. You must calculate the quality, expense, and return of the mentioned hash.
I personally would invest in my own rig with the bankroll that is accumulated through the time. Rentable hash is passable and with your own mining rig; if you are not satisfied with the result of the hashed coin in the end at least you know that you don't have to rent hash for another 24 hours because you have your own mining equipment. Try to make the investment into hardware and it will bring you tremendous profit back in a long term.

TheShire

newbie

Activity: 33

Merit: 0

Could anyone share any positives of negatives of using nice hash to generate a profit ?

is it possible to buy hash power to mine altcoins to turnover a few numbers ?

I think if it was easy everyone would be doing it but then if there was no benefit why would people do it ?

any help appreciated

Topic: Using a Buy on Nice Hash to mine altcoin - anyone experience you could share ? (Read 238 times)