Bitcoin Forum

I have entered into a mining contract with miners on ebay, we agree this following contracts:
1. 30days 2.7Th/s @$200
2. 30days 7.5Th/s @$300

the later is much cheaper I guess. my mining pool is at antpool. my question is, did I make a good deal or was I fooled? any advice on decent mining contract. all are for btc coin mining on different person.

Sorry you got beat up..............


https://alloscomp.com/bitcoin/calculator


7.5TH @ todays diff=
                Coins            Dollars
per Day   0.00377455 BTC   $4.62
per Week   0.02642183 BTC   $32.35
per Month   0.11488778 BTC   $140.64

ALL mining contracts are bullshit............

Learn Bitcoin mining math  ;)

Also the diff will rise again...imagine that,so even less profit.....

http://bitcoincharts.com/

At new diff=
                  Coins            Dollars
per Day   0.00347793 BTC   $4.26
per Week   0.02434551 BTC   $29.80
per Month   0.10585948 BTC   $129.59

Clearly OP has been deceived.
Hashnest, cloudmining which have good credibility so far, pricing their ghs is 0.00135 BTC/Gh/s. You can calculate how much if you order 7.5Th/s ::)

Like @Unacceptable said, cloudmining is not profitable nowadays. If you want to mining, have capital, have an adequate room, cheap electric bills or even free, then start to build your own mining farm.

Always use a calculator like https://alloscomp.com/bitcoin/calculator before buying any mining contracts and hardware. BE aware that you also need to include in your calculations and the increasing difficulty of the mining coin. Nowadays is much more harder to become on the plus side of mining.

You should ask for the electricity rates first and watch out for difficulty just like other said. its much harder to mine bitcoins right now and in other countries mining are not profitable due to high electricity rates..
So if they are selling a contract make sure that they are paying a low electricity rate because the difficulty is always increasing..

here is the link of calculator which is you can edit like power or kw/h and edit the difficulty and also the hash rate..
http://www.coinwarz.com/calculators/bitcoin-mining-calculator
and check difficulty here https://bitcoinwisdom.com/bitcoin/difficulty

Base in my own calculation with the default settings in checker with $300 for 7.5th possible that you can get is $50.55 in a month with 10 cents per kwh..

Wouldn't a site like https://minergate.com/internal/hashpower be more of a smart choice when one is contemplating which company they would go with in purchasing their mining hash from?
I haven't heard anything bad about this company in the time of their existence.

thanks everyone, all comments were very much appreciated. well, in this case, a lesson learned the hard way then.

It's gonna cost some thing,electricity usage,they own the miners so rental.But those charges were excessive  :(

Yeah,buying Bitcoin is better...or go GPU mining if your a PC builder,I make out pretty well with eth & some other altcoins  8)

Well you should ask first in this forum or even google if what will be the better decision if you choose this or that. Dont just do something that's more risky as everyone will say cloud mining is such a waste of money you camt even roi on them so much better if you stay away for such sites.