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Title: Cloudmining Profit Calculation result in loss, always. Am i doing it wrong? Post by: Cpt. Moe on September 30, 2017, 08:44:00 PM ??? I don't get why every cloud mining contract i check turns out non profitable???
So info: I'm poor, scraping together cryptos from faucets; to become rich - of course. I want to invest some into cloud mining - Hashflare has a pretty low entry barrier with $2 for 100Kh/s of ETH. So i want to buy 30-40 KH/s depending on the btc transmission fees and whether i can grab a packet of dash in one go, or if that would result in 2 fees. ...for starts - more as i can effort it... eventually migrate or spread to Genesis mining and such... Anyways, i punch the numbers (ie. 100kH/s) into any profit a mining calculator and it gives me a result of ~$1.70 a year. That's $0.30 less than what i payed for the one year contract ... why would anybody buy that? I must be making some mistake. used these: https://www.cryptocompare.com/mining/calculator/eth https://www.coinwarz.com/calculators/ Of course that scales up to 1 0r 10MH/s just the same. I get that we all think and hope that values go up - but that is not good reason for a purchase... Also compounding is a thing that i will do - but it looks weird... Anybody here who can shed some light on my conundrum? Thanks for all the efforts you might be willing to make ;) edit: i did read a few of the profitability related threads from the past years, but it didn't really enlighten me... in case anyone is wondering... edit2: Alright, so the more i read and look and calculate it looks like i am indeed doing it right. It just is not profitable, eh? ...poop... So the only remaining question would be, why people buy it then? It's probably my fault for doing research and reading TOS and stuff ::) Title: Re: Cloudmining Profit Calculation result in loss, always. Am i doing it wrong? Post by: 0xcosmos on October 01, 2017, 05:28:57 PM people still buy bcoz its easier for few people with less technical background
cloud mining is not profitable until value of coin skyrocket but its gamble Title: Re: Cloudmining Profit Calculation result in loss, always. Am i doing it wrong? Post by: alani123 on October 01, 2017, 05:30:25 PM Cloudmining is almost always a scam. Why would a company give out hashpower if it were for it to be profitable for use on their own? It doesn't make all that much sense.
Title: Re: Cloudmining Profit Calculation result in loss, always. Am i doing it wrong? Post by: Marvell2 on October 01, 2017, 05:32:20 PM Cloudmining is almost always a scam. Why would a company give out hashpower if it were for it to be profitable for use on their own? It doesn't make all that much sense. yup Only time cloud mining was profitable was a few years ago with the hashlets and ltc gear ponzi scams some made money but most ppl lost boatloads |