I prefer not to engage in bitcoin mining.
But if I have to choose one, I would prefer running my own hardware as it will be more fun to set up and run the machine myself.
Topic: Which mining do you prefer? Cloud mining or Hardware Mining? - page 4. (Read 4536 times)
Cloud mining, only if it is able to profit..
Which cloud mining companies would you suggest?
Cloud mining, only if it is able to profit..
And to add to that, the cloud mining services that seems to be profitable, looks like Ponzi schemes.
So you never know when those operations will reach saturation point and close their doors.
You get drawn in by promises of 1, 2, 3 and 5 year contracts, and you make your calculations, based on that, but tomorrow they might just close shop, and your return on investment will never come.
The hardware mining is just as tricky. You calculate your profit, before you buy the latest ASIC chips and then you order them. The shipping delays to get the hardware to you, get longer and longer and by the time, you receive the hardware, it's either obsolete or well below your initial calculated profits.
If you are lucky, you get a reputable company selling products that are actually available and you can mine with profit.
So you never know when those operations will reach saturation point and close their doors.
You get drawn in by promises of 1, 2, 3 and 5 year contracts, and you make your calculations, based on that, but tomorrow they might just close shop, and your return on investment will never come.
The hardware mining is just as tricky. You calculate your profit, before you buy the latest ASIC chips and then you order them. The shipping delays to get the hardware to you, get longer and longer and by the time, you receive the hardware, it's either obsolete or well below your initial calculated profits.
If you are lucky, you get a reputable company selling products that are actually available and you can mine with profit.
I prefer Hardware mining but is more expansive than cloud mining. The only things to watch out are the hear and the electricity cost 
Well with cloud mining, you have no problem with heat and high electricity cost and hardware failure and huge investments to buy hardware and storage space.
With cloud mining, you make way less profit, and in some cases, none at all, but you can play around with different cloud mining operations, until you find one, where they actually want you to make some money, and stay with them.
This is not from my own experience, but from my friends, that have done this. I am still new to this, so my opinion does not count.
With cloud mining, you make way less profit, and in some cases, none at all, but you can play around with different cloud mining operations, until you find one, where they actually want you to make some money, and stay with them.
This is not from my own experience, but from my friends, that have done this. I am still new to this, so my opinion does not count.
You make a sound point!
Well with cloud mining, you have no problem with heat and high electricity cost and hardware failure and huge investments to buy hardware and storage space.
With cloud mining, you make way less profit, and in some cases, none at all, but you can play around with different cloud mining operations, until you find one, where they actually want you to make some money, and stay with them.
This is not from my own experience, but from my friends, that have done this. I am still new to this, so my opinion does not count.
With cloud mining, you make way less profit, and in some cases, none at all, but you can play around with different cloud mining operations, until you find one, where they actually want you to make some money, and stay with them.
This is not from my own experience, but from my friends, that have done this. I am still new to this, so my opinion does not count.
September 30, 2014, 05:29:22 PM
Definitely hardware. I actually don't understand why would someone sell you his hash if he could just earn more btc by himself.
September 30, 2014, 04:41:01 PM
It is definitely looking like more votes for Hardware
September 30, 2014, 04:39:51 PM
Hardware?
Whoever sells you the cloud mining won't sell for lower than he mines. That usually is higher than you could get by hardware mining.
Whoever sells you the cloud mining won't sell for lower than he mines. That usually is higher than you could get by hardware mining.
But some chinese might get super cheap asics and electricity, and not willing to bet on the price volatility.
Not sure if there is many ppl in that spot, though
September 30, 2014, 04:07:39 PM
Hardware all the way
September 30, 2014, 04:01:11 PM
Hardware?
Whoever sells you the cloud mining won't sell for lower than he mines. That usually is higher than you could get by hardware mining.
Whoever sells you the cloud mining won't sell for lower than he mines. That usually is higher than you could get by hardware mining.
September 30, 2014, 03:31:59 PM
Cloud is much cheaper but you must trust the producer.
Yes that is a risk but can be just as risky as purchasing from the wrong hardware (Vapourware) provider IMO
Not only the vaporware but cost. I still am able to do cheaper hosting myself then I can get off cloud. I do not have vat, have lots of room, and decent priced electricity. I'm lucky to have all those things but cloud is not always cheaper.
And comparing a cloud that can not change pools etc really is not same as having access to hardware and selecting pool or rental site of your choice.
I mean it depends if you know how to do that.
Most people dont know, and rather mine right away. Eg: setting up cgminer or anything setting up for the first time can be daunting task for someone.
September 30, 2014, 03:28:31 PM
Cloud is much cheaper but you must trust the producer.
Yes that is a risk but can be just as risky as purchasing from the wrong hardware (Vapourware) provider IMO
Not only the vaporware but cost. I still am able to do cheaper hosting myself then I can get off cloud. I do not have vat, have lots of room, and decent priced electricity. I'm lucky to have all those things but cloud is not always cheaper.
And comparing a cloud that can not change pools etc really is not same as having access to hardware and selecting pool or rental site of your choice.
September 30, 2014, 02:41:53 PM
Hardware anyday! Cloud mining rips you off and you can't overclock 
pluus- with hardware mining you are there to control everything!!
pluus- with hardware mining you are there to control everything!! September 30, 2014, 02:35:18 PM
it depends
if you don't know how to setup & manage hardware or don't want to do that then cloud mining is good idea
else hardware mining is a good choice
if you don't know how to setup & manage hardware or don't want to do that then cloud mining is good idea
else hardware mining is a good choice
September 30, 2014, 02:33:37 PM
Cloud is much cheaper but you must trust the producer.
Yes that is a risk but can be just as risky as purchasing from the wrong hardware (Vapourware) provider IMO
September 30, 2014, 02:21:52 PM
Cloud is much cheaper but you must trust the producer.
September 30, 2014, 02:01:01 PM
It seems that Electricity price is the main deciding factor hmmm
September 30, 2014, 01:39:27 PM
hardware if your electricity is free?
if not cloud mining seems the best route.
if not cloud mining seems the best route.
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