sh4dowcrypto250 (OP)
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April 08, 2018, 10:36:38 AM |
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Is investing in cloud mining profitable for us?
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jillscarbrough
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Steady State Finance
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April 08, 2018, 03:32:16 PM |
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Is investing in cloud mining profitable for us?
Depends on a few conditions. If you are purchasing cloud mining plan today for a specified period, and coin price didn't change much, at the end of your contract, may your profit was zero (0) or even minus (-) and otherwise. If coin price dropped you will be got a big minus, but if coin price increasing, may, you'll profit. Remember to read their " ToS." |
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EthanB
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April 08, 2018, 04:43:32 PM |
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The short answer is going to be no.
The longer answer would be way too extensive for me to explain in a single post. I would suggest you do a lot of research on the outcomes of cloud mining companies past. There is a very serious pattern of cloud mining companies disappearing or simply setting up their programs in such a way that nobody will ROI or profit. At the very best, cloud mining is less profitable. At the very worst, it gets quite criminal.
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Mi5h0
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April 08, 2018, 04:59:54 PM |
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The short answer is going to be no.
The longer answer would be way too extensive for me to explain in a single post. I would suggest you do a lot of research on the outcomes of cloud mining companies past. There is a very serious pattern of cloud mining companies disappearing or simply setting up their programs in such a way that nobody will ROI or profit. At the very best, cloud mining is less profitable. At the very worst, it gets quite criminal.
Couldn't have put it better myself.  To the OP: Remember, it would take a very long time to get your initial investment back with cloud mining at current prices. However, if the price rise significantly you could make a profit. But in that case, you'd be better off purchasing coin directly on the exchanges where you can profit through buying the dips and selling when it pumps repeatedly, or long term HODLing. |
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EthanB
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April 08, 2018, 05:05:59 PM |
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Remember, it would take a very long time to get your initial investment back with cloud mining at current prices. However, if the BTC price rise significantly you could make a profit. But in that case, you'd be better off purchasing Bitcoin directly on the exchanges where you can profit through buying the dips and selling when it pumps repeatedly, or long term HODLing.
Any contract of cloud mining that you could purchase for a low entry-price would most likely take years in order to see your money back. If you are relying on a price jump in BTC, then I would agree you are better off simply purchasing BTC, doing the same thing with less risk and parties involved. If you are planning on investing even a couple hundred dollars into cloud-mining, then I would suggest that you're probably better off just buying a single GPU to put inside your computer and mining off of that. You will see better, more reliable results that will remain untouched by an external cloud mining company that certainly wants their cut of your profits. It's almost like there's always a better option than cloud mining. Low-budget or high-budget has GPU options, GPUs don't take up very much space so I doubt that is a concern. If you're interested in throwing your money at a ponzi-scheme, I'll take $500 now and every person you convince you to give me $500 I will give you $250.  |
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bobo012
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April 08, 2018, 05:38:39 PM |
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It depends, if you have cheap electrical power and space to accommodate your own miners then it is a better path to have your own miners.
Asics are a tough game for private miners as they get absolute pretty quick. If you don't have the means to have your miners then you have no choice but to go for cloud mining contract
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blockchainwriters
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May 02, 2018, 10:32:23 AM |
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It is really hard to find a profitable cloudmining projects to invest in, nowadays. For that reason, it is best to buy coins that really doing well and gain some profit. If you really interested in cloudmining, I would recommend you to do some research on current offerings from cloudminers and also speak to the people who have made some money out of it and gain from their experience.
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cioloxl
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May 02, 2018, 10:37:15 AM |
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Remember, it would take a very long time to get your initial investment back with cloud mining at current prices. However, if the BTC price rise significantly you could make a profit. But in that case, you'd be better off purchasing Bitcoin directly on the exchanges where you can profit through buying the dips and selling when it pumps repeatedly, or long term HODLing.
Any contract of cloud mining that you could purchase for a low entry-price would most likely take years in order to see your money back. If you are relying on a price jump in BTC, then I would agree you are better off simply purchasing BTC, doing the same thing with less risk and parties involved. If you are planning on investing even a couple hundred dollars into cloud-mining, then I would suggest that you're probably better off just buying a single GPU to put inside your computer and mining off of that. You will see better, more reliable results that will remain untouched by an external cloud mining company that certainly wants their cut of your profits. It's almost like there's always a better option than cloud mining. Low-budget or high-budget has GPU options, GPUs don't take up very much space so I doubt that is a concern. If you're interested in throwing your money at a ponzi-scheme, I'll take $500 now and every person you convince you to give me $500 I will give you $250. I mean, the question you gotta answer for yourself is: why would someone develop a business around making money for other people, when they could very well do it themselves? Liquidity? Come on, they could have a partnership with an exchange of sorts and would be able to cash out any crypto, on the spot. For me, this type of operation is a painfully obvious scam. The added referral systems most of them employ should be further proof that it's also a ponzi. |
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jmigdlc99
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May 02, 2018, 11:01:49 AM |
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It's been discussed numerous times online and here in the forums. Cloud mining is profitable only on the assumption that the value of a coin will rise.
Discussions have also pointed out that given that assumption (coin value will rise), it is better to buy the coin directly. Why? Because the math says so.
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0xacBBa937A57ecE1298B5d350f40C0Eb16eC5fA4B
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FFI2013
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May 02, 2018, 11:19:08 AM |
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Here's the best with these scam companies for what they charge your for the hashrate you could of either built or bought a miner than they charge a maintenance fee which might be a little lower for power depending on where you live and then the real kick in the ass is a lot of these companies only offer a 1 year contract so you'll never roi unless you get lucky and the markets jump again
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Jaycee99
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May 02, 2018, 01:19:32 PM |
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Is investing in cloud mining profitable for us?
It is a big yes sh4dowcrypto, Yes cloud mining is profitable for you and for some miners as well. So think about is When in mining you must be safe keep yourself out of harm like in terms of being safe like an holly wood artist because they get hack but for all person when looking for a website you must see, know and ask if it is one of the legit for a miners like you to cloud mine. AGAIN MAKE SURE IT IS LEGIT and you should know really look out for hacker here who can get your earnings. |
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Jr.Sasha0209
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May 03, 2018, 08:46:32 AM |
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All greetings, I do not recommend to get into cloudy mining, as in most cases this is fraud! It is better to assemble the farm with your own hands at home and you will be calm that this is all your and + equipment that you can sell at any time!
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xlm19877
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May 03, 2018, 09:25:37 AM |
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i think the best is you buy mining rigs
all cloud mining take alot off money from you and say this amount charge a maintenance fee
so if run this rigs in your home ..all profitable go to you
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DevelopmentBank
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May 03, 2018, 12:20:12 PM |
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i think the best is you buy mining rigs
all cloud mining take alot off money from you and say this amount charge a maintenance fee
so if run this rigs in your home ..all profitable go to you
Up to last month i would have agreed with you. But at this point in time when ETH developers have already confirmed starting tests on the Casper POS implementation, it is too risky to start buying a new rig and mining. The best option (for profit) to do now, in my opinion, would be to simply buy the coin and wait for it's value to rise. Buy ETH if you like it should surely increase in value. |
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yhoga45
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May 03, 2018, 12:33:32 PM |
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My friends said that cloud mining is profitable, and you can get more profit when the price grows up (of course, that's mining if you hold and the coins price up you can get more money). The profit, of course, depends on your investment, if you buy high hash rate you can get more money. But, my friends said that although your investment is a little it's actually same for the ROI if you make your big investment. The different just how much you get. (I think that's the clue for every investment). So, the point is now still profitable although it's not like if you make investment last year.
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