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Is cloud mining altcoins profitable?
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Topic: Is cloud mining altcoins profitable? (Read 586 times)
Nathan047
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Is cloud mining altcoins profitable?
January 02, 2017, 06:03:25 PM
#1
So, assuming I use a legitimate cloud mining company, are there still altcoins worth cloud mining? I know that the rising amount of bitcoin miners makes bitcoin cloud mining relatively unprofitable, but is profitable to mine coins like Litecoin, Monero, Eutherium or the like?
I'm starting a technology blog
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m1n1ngP4d4w4n
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CryptoLearner
Re: Is cloud mining altcoins profitable?
January 02, 2017, 08:02:06 PM
#2
Quote from: Nathan047 on January 02, 2017, 06:03:25 PM
So, assuming I use a legitimate cloud mining company, are there still altcoins worth cloud mining? I know that the rising amount of bitcoin miners makes bitcoin cloud mining relatively unprofitable, but is profitable to mine coins like Litecoin, Monero, Eutherium or the like?
Imho no.
cakes
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Re: Is cloud mining altcoins profitable?
January 02, 2017, 09:29:18 PM
#3
In the short term, not likely. If you did mine a newer coin with low difficulty and high initial block rewards there is a possibility that you can make a profit if the coin pumps (IF the coin pumps) but for most of the largest alts (Eth, Monero, ZCash, etc) the cost it would take to find a block isn't worth the investment.
starmman
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Re: Is cloud mining altcoins profitable?
January 02, 2017, 09:31:12 PM
#4
I had a look a while back and couldn't find a cloud mining operation that looked profitable and legitimate - so opted for small scale CPU based coins...
Nathan047
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Re: Is cloud mining altcoins profitable?
January 02, 2017, 10:05:00 PM
#5
Okay, well thanks for the advice everyone.
I'm starting a technology blog
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