Renting Hash Power, is it profitable?

[stomachgrowls]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

It seems you are investing on a cloudmining site.If you put 0.01 then expected profits on daily basis would be very very low and expect your ROI would be longer and it may take 6 or more months depends on mining difficulty but remember if you invest on a wrong cloudmining then say goodbye already on your money because they will sure go scam in upcoming days or weeks.

[kiklo]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

It seems you are investing on a cloudmining site.If you put 0.01 then expected profits on daily basis would be very very low and expect your ROI would be longer and it may take 6 or more months depends on mining difficulty but remember if you invest on a wrong cloudmining then say goodbye already on your money because they will sure go scam in upcoming days or weeks.

Again , Bullshit,

The Difficulty increases every 2 weeks, the longer you mine the more you lose, as you never even break even.

Quit Lying.


 

[Zadicar]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

It seems you are investing on a cloudmining site.If you put 0.01 then expected profits on daily basis would be very very low and expect your ROI would be longer and it may take 6 or more months depends on mining difficulty but remember if you invest on a wrong cloudmining then say goodbye already on your money because they will sure go scam in upcoming days or weeks.

Again , Bullshit,

The Difficulty increases every 2 weeks, the longer you mine the more you lose, as you never even break even.

Quit Lying.


 

Direct to the point.haha.The thing you said is true on which difficulty on mining do increase every two weeks and no matter how legitimate your cloudmining,your roi would goes longer and longer and you will be tired of waiting forever.I dont really suggest to join on these thing on the first place.

[ranochigo]

The Difficulty increases every 2 weeks, the longer you mine the more you lose, as you never even break even.

Quit Lying.


 

Depends, it might even decrease. Look at 22 Oct 2016 and 2 Aug 2016. Also factor in the fact that maintanence fees are based on USD and the market price can vary a lot.

Note that, I actually support his idea that Cloudmining will almost ALWAYS yield a negative return but it is possible to make a profit.
The service provided by Nicehash is ran by people who are looking for profit and they don't own a huge datacenter or warehouse. The rates there are extremely inflated and it is IMPOSSIBLE to make any money off it unless you mine an altcoin and it increases in value tremendously. That's what its used for.

[btcdiggingmaster]

I do rent hash power and yes it is profitable but the question would be how much time were you going to earned your ROI? during this past months difficulty went really high so probably it would take you 8-15 months to get back your investment. I only invest in hashnest anyways

Renting hash power means you are investing into external site that means crowd funding site means you won't make much profit with them. Because the will collect your earning in the form of fee and they will pay only less amount of money. Really it will take long to get back your investment, many people are fed up with these sites not giving any profit after a year also.

[mr.bitcoinerf11]

calculate it with your self and see,you will not return a dem from your money if you do that

[mkmdoc]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

I think you have wasted your money because it will take long to get your returns because there transaction fee is always high. Renting hash power is wasting of money, it is simply nothing but cloud mining, they will mine with your money and the will send little bit of profits to you. You will make good profit while doing trading btc/usd.

[Xester]

Renting a hashpower is not profitable if you mine bitcoin but if you will mine new coins then you will profit. But that profit will be harvested after holding in a month or more after selling your mined coins. Remember that timing is important in selling coins since that is the key towards income. Another thing if you sell it immediately make sure to compute your expenses in mining and place the price much higher compared to your expenses.

[michellee]

renting hash power in website is not profitable as there are only short time we are renting and we spend big budget to rented. for example, if you have 0.01 btc and you rent for 24 hours and you only get 0.0004 btc is quietly not profitable, but i don't know if you are mining with altcoin which have low diff. maybe you can get profit by this, but in my opinion, this is not profitable. better you buy hash power in cloud mining and you can get your ROI for 8 month.

[Text]

You can make a profit just by renting hash power, it is profitable only in the long run because it takes time. You need to wait to gain more. But if I were you I will choose the other way of investing. They say that process is no longer profitable due to time wasting...

[deadsilent]

My answer is maybe. If you are patient enough. I think atleast you can get profit from cloud mining. But for me, its not worth of my money to invest at any cloud mining. Im just gonna find a profitable job here than spend my money and my time from that. Maybe if you invest at the time when bitcoin is just starting. Maybe you could get a huge profit. I think its better to mine on your own than investing on cloudmining.

[crazyivan]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

How could it be profitable? Why would anyone pay additionally for something which does not make money to them. There s no space for this premium payment which could generate profits for you.

[RoommateAgreement]

No, renting hash power is almost never profitable, think of it like this, would you sell someone mining hash when you could make more by just doing it yourself?

then why people rent and spend so much money? that is what boggles me.

people do all kinds of crazy stuff with their money these days and in bitcoin world the situation is even worse, because most of all there are lots of newbies around and lots of underage kinds who don't have the slightest idea of what they are doing.
so they jump at the first false promise to invest their little amount of money they have and surely enough they get scammed easily.

[calkob]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

Your own example tells you everything you need to know, the best way to get bitcoin in my opinion is to personally mine a profitable altcoin and convert or just buy the bitcoin itself 

[darklus123]

I call Bullshit,
Post the #s. 
 

Yeah probably but i love to take the opportunity anyways i just add up some small amounts that i can afford to lose and the thing here is that i don't have to do anything on it all i have to do is continue with my life then look at my amounts once in a while.

[BeManga]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

Your own example tells you everything you need to know, the best way to get bitcoin in my opinion is to personally mine a profitable altcoin and convert or just buy the bitcoin itself 

i agreed with this
if you will rent mining rigs with bitcoin to mine bitcoin itself is not profitable
difficulty rise and there also so a lot of competitor
but if you will use the rigs you rent to mine alt
maybe you can make profit or altleast break even

[bajing]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

It's a little bit different with the cloud mining but both never give you a profit even cloud mining still can give you a profit if you can be a patient to waiting till you get ROI.

[MWesterweele]

Well, I rent hash power on nicehash and I spend 0.01 btc. after spending all of it, I only got 0.0004 in return. is renting hash power profitable? then why many people still renting hash power on them. am I doing something wrong?

I don't know if it is really profitable now a days renting hash power to mine bitcoin is like your depositing your bitcoin and mining your own money it will took you 3 to 5 months before you will get your full investment back , how if the website turned into scam? And run all your money what you gonna do? Trained your self to trade.

[rajasumi2]

No it is not profitable at all .u l get the money back as long as they are profitable and actually they l only give ur money back .and u l end up no profit at all.well why dont u do signature campaigns ? U have to work hard but at the end of the day u l earn with it .

[Carlsen]

Renting hash power means cloud mining as far as I understand it.
There are already a lot of topics about cloud mining, and all have one thing in common:
They say don't do it.
I can only agree to that!
It's only profitable to the company who makes the offer of renting hash power.