Bitcoin Forum

Hello.

I have some questions about the profit of mining and cloud mining. Don't kill me, I won't invest in cloud mining. I just have some general questions.

I will calculate on 200 GH/s.
When I got my mining hardware for free and I don't pay for any power, then I will get 0.02590295 BTC a year... this is around $60.66. Look here: https://i.imgur.com/al1czPT.png
Is this correct?


So when it is correct.... we will take a look to genesis mining.
They sell 200 GH/s for $30 and they take a fee of $0.00028 per day for each GH/s.

With 200 GH/s I have $60.66 a year without any costs. When I use genesis mining, I need to pay $30 and $20,44 fees per year.
So I have $10,22 profit after one year.


I just want to know, if my calculations are correct. I know cloud mining is shit. I just want to know it.

No one can help me in a btc forum?  ???

It's almost correct. Nobody can guarantee you a profit.

In a year BTC could be $10, could be $10,000.
In a year live span, almost every cloud mining service is turning into scam.
In a year nobody knows what will be the difficult, which among with the price, is the most important factors.

There cannot be a uniform rate to calculate profit on mining. Though it depends mainly on the electricity cost and the hashpower, wear and tear of hardwares is an important factor which contributed behind the scene, which cannot be overlooked.

Mining can't be calculated prior if you are planning for a long term mining but if you are planning to rent any gig for a week or maximum a month the results will be accurate. Cloud mining is really risky if you search genesis mining on this forum there are many scam accusations against it i would surely think twice before making any purchase

There are still many people are taking the risk about genesis mining even the fact its really risky this is another way to promote their business again because almost newbie here are talking about cloud mining or investment online.. If you seen the calculation there i think better to check it first how actually ear their own rig.. there are many tools online that you can use to calculate profit deducted the fee for electricity difficulty
Much better to check it here more details click me (https://www.cryptocompare.com/mining/calculator/btc?HashingPower=4730&HashingUnit=GH%2Fs&PowerConsumption=1293&CostPerkWh=0.12)

You cannot newbie's talk about that since many peopl surely introduced them to go on that program since the referrer wants to get their own referral bunos when those newbies will go invest on them. And maybe thats the reason why we can see them posting just to ask some inquiries about how legit they are, But I thin also its better to leave the mining investments since if you will go invest on rig still it will be outdated when time would pass and surely they will lose some money for that.