Why mining contracts cost you more than you can earn from them - page 2.

crocko

hero member

Activity: 826

Merit: 1000

'All that glitters is not gold'

Quote from: ymer on February 10, 2014, 08:56:29 AM

Quote from: gpucoolingmethod on February 09, 2014, 08:50:29 AM

Quote from: vpasic on February 09, 2014, 08:29:25 AM

of course they are selling unprofitable contracts.

please explain why? obviously no one buys them right?

People are greedy and stupid and don't do the math.

At Cex.io you can sell your GH/s and keep what you have mined too. CEX,io have merged mine: you earn BTC, NMC,DVC,IXC.
You can add your own mining gear to their pool too.
So at least Cex.io is OK.

vpasic

sr. member

Activity: 266

Merit: 250

think about it!
if you have money making machine why in the hell do you want to sell it or rent it for the less of the money that you can earn by your self!
so logically you would rent your miner for more money than you could earn by mining with it.
it is still hard to believe that there is so much stupid people in the world that still paying for that cloud mining contracts.

gpucoolingmethod

member

Activity: 98

Merit: 10

Quote from: ymer on February 10, 2014, 08:56:29 AM

Quote from: gpucoolingmethod on February 09, 2014, 08:50:29 AM

Quote from: vpasic on February 09, 2014, 08:29:25 AM

of course they are selling unprofitable contracts.

please explain why? obviously no one buys them right?

People are greedy and stupid and don't do the math.

thate xplains lots of other things too

ymer

sr. member

Activity: 308

Merit: 250

Quote from: gpucoolingmethod on February 09, 2014, 08:50:29 AM

Quote from: vpasic on February 09, 2014, 08:29:25 AM

of course they are selling unprofitable contracts.

please explain why? obviously no one buys them right?

People are greedy and stupid and don't do the math.

Sonny

hero member

Activity: 868

Merit: 1000

Quote from: gpucoolingmethod on February 09, 2014, 08:50:29 AM

Quote from: vpasic on February 09, 2014, 08:29:25 AM

of course they are selling unprofitable contracts.

please explain why? obviously no one buys them right?

If you can get easy profit buying those hashrate, why would the site owner sell you the hashrate in the first place?

Even for highly overpriced hashrate or equipment, many people still buy them as they have no idea how difficulty adjustment works and how it will affect the mining profitability.

gpucoolingmethod

member

Activity: 98

Merit: 10

Quote from: vpasic on February 09, 2014, 08:29:25 AM

of course they are selling unprofitable contracts.

please explain why? obviously no one buys them right?

vpasic

sr. member

Activity: 266

Merit: 250

good morning Colombo!
of course they are selling unprofitable contracts.
no it's not better to just mine themselves, as you can see they are earning more by selling power than they can mine with same power.

gpucoolingmethod

member

Activity: 98

Merit: 10

examp-le
1.82$ earned by first week.bitcoinfrenzy.com 2GH 99$ 25% reinvestment.Calc shows only 0.002686 btc first month.So 0,0020145 btc to you 0,0006715 btc for reinvestement on first week.

What am I missing here? Or do they really sell unprofitable contracts?

Also isnt it better to just mine them themselves with all that gh/s combined? 4gh/s is more than twice as good as 2gh/s right?

there are more examples.

Topic: Why mining contracts cost you more than you can earn from them - page 2. (Read 2156 times)