nikoluz123 (OP)
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August 29, 2017, 12:04:15 AM |
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Hi guys,
Just wanted to know your perspective on mining btc or other alt coins vs just selling hashing power in nicehash and other platforms.
Which do you think is more profitable? And in terms of power consumption are they the same?
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Didley1JT
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August 29, 2017, 02:40:02 AM |
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By definition, if you're letting people use your computing power to mine, then there has to be less value in it for you than they can make from mining. If it was more profitable for you to sell computing time, then they wouldn't be willing to pay you for it.
This is the reason cloud mining is a bad idea.
From everything I've read, you should either mine yourself or simply buy BTC.
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NotFuzzyWarm
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August 29, 2017, 03:02:15 AM |
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By definition, if you're letting people use your computing power to mine, then there has to be less value in it for you than they can make from mining. If it was more profitable for you to sell computing time, then they wouldn't be willing to pay you for it.
This is the reason cloud mining is a bad idea.
From everything I've read, you should either mine yourself or simply buy BTC.
Bingo! By Jove he's got it spot on re: rental hash/cloud mining. The ones really making money are the operators vs their 'customers'.
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Didley1JT
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August 29, 2017, 03:14:02 AM |
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I admit I thought it was an appealing idea at first also. But the simple fact is that if it were anything but a bad deal for you, then there simply wouldn't be anyone to offer such a service.
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BTC: 1GaqNkHcstajEex6LQ6caMDLNJMLKwourJ
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nikoluz123 (OP)
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August 29, 2017, 04:20:23 AM |
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I think we should take into account the fact that it is very difficult to mine by yourself now, so in essence you are renting out your hashing power to be a part of a pool that can make it easier to mine. Correct me if im wrong though.
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Didley1JT
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August 29, 2017, 04:34:10 AM |
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I think we should take into account the fact that it is very difficult to mine by yourself now, so in essence you are renting out your hashing power to be a part of a pool that can make it easier to mine. Correct me if im wrong though.
That's true. But think about this: the only difference between pool mining and cloud mining is that in cloud mining you've added another party to the mix. Obviously, that new party is there to make money just like you. The size of the prize hasn't changed, but now you're splitting it between more people.
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jmaresca
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August 29, 2017, 11:42:39 AM |
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I may be wrong but if I had to guess I would think that a mining company would do both internal mining as well as selling hashpower to diversify income streams. The mass mining business model could very well be that selling hashpower covers all the mining operations expenses and whatever they mine internally is their profit and ROI. I am not saying this is exactly what they are doing however being someone who holds a post graduate business degree I would expect this to be the case. Otherwise why not just mine it all for yourself? There must be an attempt to off set some of the higher operational expenses and higher cost barriers to entry. Hi guys,
Just wanted to know your perspective on mining btc or other alt coins vs just selling hashing power in nicehash and other platforms.
Which do you think is more profitable? And in terms of power consumption are they the same?
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jmaresca
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August 29, 2017, 11:49:21 AM |
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I would have to agree with Didley1JT about the value issue so that tells me that there is a need to try to offset some of the operational expenses associated with a cloud Mining operation. By definition, if you're letting people use your computing power to mine, then there has to be less value in it for you than they can make from mining. If it was more profitable for you to sell computing time, then they wouldn't be willing to pay you for it.
This is the reason cloud mining is a bad idea.
From everything I've read, you should either mine yourself or simply buy BTC.
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BINANCE CASH BACK PROGRAM - Earn back 12% of your trading fees w/ our cash back program. https://binancecashback.com - EBATES OF CRYPTO TRADING!
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nikoluz123 (OP)
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August 29, 2017, 12:09:45 PM |
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ah but nicehash actually mines other alt coins, and automatically converts to BTC, which is why the payout is technically not that bad. this is just my opinion though. would love to hear form someone who has tried both cloud mining and pool mining.
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BuddyDavis501
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August 29, 2017, 12:35:32 PM |
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I have tried Nicehash with my S9's for 24 hours and the payout was considerably lower then the pool I use. Just my 2 cents. I have not tried any other mining machines on the site....
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Reez
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August 31, 2017, 06:56:25 AM |
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Selling hashing power is much better then mining as more profit is guarantee. Simply try and see. One month of each.
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reflector
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August 31, 2017, 07:09:17 PM |
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I have tried Nicehash with my S9's for 24 hours and the payout was considerably lower then the pool I use. Just my 2 cents. I have not tried any other mining machines on the site....
Hash power you rent to work with the miner higher like you used will be better option to get the more profit. If you have miner and making with decent hash power means you would not able to get the better amount every month. Check some video tutorial speaks this in YouTube it can be helpful to you make path clear.
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leowonderful
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August 31, 2017, 08:58:00 PM |
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In the Bitmain miners there is a way to switch which pool you are mining on based on profitability, but I'm not sure how you'd be able to do that. It is built in, so you'd just need to SSH in and change a few things. In my view both options are great, but I personally pick whichever one is more profitable; mining is mostly about profit, right?
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Buddytronic
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September 03, 2017, 07:04:10 AM Last edit: September 03, 2017, 07:56:21 AM by Buddytronic |
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By definition, if you're letting people use your computing power to mine, then there has to be less value in it for you than they can make from mining. If it was more profitable for you to sell computing time, then they wouldn't be willing to pay you for it.
This is the reason cloud mining is a bad idea.
From everything I've read, you should either mine yourself or simply buy BTC.
Bingo! By Jove he's got it spot on re: rental hash/cloud mining. The ones really making money are the operators vs their 'customers'. There are many more factors involved that need to be considered. I'd say that there is definitely a place for cloud mining, and it can be a win-win situation. Consider some of these factors - perhaps you have, but maybe not all of them. There may be other factors I haven't thought about also: 1. The cloud mining outfit makes some of it's profit through maintenance fees. For example, what if they pay $0.02/Killowatt and sell it to you for $0.12/Killowatt? You might consider the $0.12 per Killowatt to be a good rate - depending on where you are located, yet the cloud mining operation is making good money reselling electricity to you. It's a win-win in this case, and this is what is happening. 2. It is currently impractical to mine with current hardware for many people. Noise and limits of electricity supply. Maybe you can run a few S9's in a garage, but the noise issue makes it very unappealing. 3. The time lost in the Transportation of mining equipment takes time away from the mining equipment's lifetime. Time cannot be replaced. The miner must run 24/7 if possible. 4. Import duties add to the expense of physically controlling your mining equipment, so again - a "premium" price for cloud hashes can be viewed as a bargain from a different point of view. 5. Businesses may be able to deduct mining expenses with a physical miner, but there are many complications to think about when you bring businesses into the mining field in general. It's interesting stuff and not everything is obvious until you get a deeper understanding of the possible finance issues and scenarios. 6. By selling cloud hashes, the miner may be hedging on the price of the mined crypto currency. By selling in fiat vs selling with Bitcoin, every transaction can be a hedge - depending on how you look at it. 7. Miners who are also manufacturing or assembling mining hardware have many many more hedges at play. When is the S10 coming out? With BCC/BCH maybe another year or two has been bought for existing mining hardware! How? Think it through, you might understand why global BTC hash rate dropped the difficulty 500 and some blocks ago from today. Why and How? Think it through, it relates to cloud mining and mining in general If anyone wants to hire me as a consultant, let me know.
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Syed Owais Ali
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September 04, 2017, 01:00:04 PM |
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The more accurate and best Ethereum Calculator or Eth Calculator. With a specific hashrate You Can Calculate how much ETH should be mined. This Eth Calculator will display your expected earnings in Ether and Dollars.
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murzame
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September 16, 2017, 05:43:36 PM |
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As i think you should sell your hashing power, and mine some altcoins in the same time. If you have a lot of asics, you can just split it. Because when you mine an altcoins for a future its the best way to get a lot of money
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Aurel577
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September 19, 2017, 01:19:41 PM |
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Renting your miner out on Nice Hash can be very profitable. It really depends on what people are willing to pay for the rental. A couple years ago when there was a sha256 alt coin (which tanked very quickly) I was renting my miners out for double what I could get from any pool, all because people wanted to pay to find those alt coin blocks. A couple weeks ago Nice Hash was paying about 30% better than what you would get at a normal pool. You can set your miners to only mine at Nice Hash when it's paying good but it all depends on what price people are willing to pay for rentals.
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Unlock my old account please: Aurel57
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Miningstore
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Miningstore.com - Mining Rigs and Rig Hosting
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September 19, 2017, 01:57:47 PM |
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I would definitely say that selling hashing power to renters is very profitable if you don't use a third party to rent through, but if that's your only option just stick to mining for yourself or buy the coins
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Host your Antminer S9 starting at $82 a unit at www.miningstore.com
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rockie2000
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September 19, 2017, 01:59:42 PM |
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I use NiceHash for its simplicity since I don't have time to manage multiple miners at different pools
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Fredomago
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September 19, 2017, 02:22:32 PM |
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I use NiceHash for its simplicity since I don't have time to manage multiple miners at different pools
as a beginners i would love to learn both as of now i'm using nicehash due to its easy to use apps but while doing that I'm also trying to study other coins which can be profitable if i will mine it from any pool maybe if you are aiming for long term its good to learn mining by yourself and collect those coins and hold and wait till the project rise up its value.
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