Mining in the cloud vs simply buying bitcoin

[dustpine]

I think cloud mining in general is not profitable.

Here are my calculations for Mining Cloud vs Buying Bitcoin.

All following calculations are done on annual basis.

All following calculations are done WITHOUT halvings and adjustments counted until you read later down.

Hash rate (total hash power of the world) close to 49 Mil. Th/S as of today May 17, 2019.

Every hour gives the world 6 blocks, multiply that by x 24h x 365 days= 52,560 blocks produced in the world in 1 year.

Currently there are 12.5 bitcoin mined per each block x 52,560 blocks= 657,000 bitcoin can be mined per year in the world if no adjustments and halvings happened.

49 mil. Th : 657,000= about 75 TH/s to mine 1 bitcoin as it stands now, before counting adjustments and halvings.

Let’s assume I bought 1 bitcoin today and paid about $7,200 (as of May 17, 2019) in a hope to sell it in 1 year at a higher price.

Now let’s see what would happen if instead of buying 1 bitcoin I invested the same amount of money in cloud mining.

Typical contract from a firm like Genesis Mining offers 1TH at a rate of about $60 all-inclusive per year (May 17, 2019), and that's including maintenance and other fees.

For $7,200 I can buy about  120TH for 1 year term of cloud mining.

120Th : 75Th per 1 bitcoin= that should give us 1.6 bitcoin over 1 year period of contract for the price of $7,200.
 
1.6 bitcoin is obviously more then 1 bitcoin which I can buy today, so cloud mining is better, right?

I think NOT, because remember we have not counted difficulty adjustments and halvings yet.

Now let’s do that, let's include them in the picture.

The next halving is in about 1 year,  so we don’t have to take it into our example as the contract will be over by the time of halving, so for now we just have to worry about difficulty adjustments.

But from historic data I never seen those adjustments less then 100% year over year and usually it’s even more.

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.

Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.

Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

[1715110058]

1715110058

[NeuroticFish]

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.
Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.
Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

You are right, luck is a huge factor in the equation.
The difficulty sometimes rise, sometimes drops; of course, overall it rises more than it drops. I didn't do the math, but I think that there's also a chance for profit. So instead of your max 0.8 BTC, there could be something like 0.5(?)-1.25(?) BTC range.
Your conclusion is, however, correct. It's not worth the risk. (And I'd not even insist on how many fake cloud mining companies are around, let's just keep the calculation on legit ones.)

[okala]

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.
Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.
Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

You are right, luck is a huge factor in the equation.
The difficulty sometimes rise, sometimes drops; of course, overall it rises more than it drops. I didn't do the math, but I think that there's also a chance for profit. So instead of your max 0.8 BTC, there could be something like 0.5(?)-1.25(?) BTC range.
Your conclusion is, however, correct. It's not worth the risk. (And I'd not even insist on how many fake cloud mining companies are around, let's just keep the calculation on legit ones.)

Cloud mining is no longer profiting and at that it not certain if you make a good profits involving in cloud mining but to me it better for one to get involved in trading rather then cloud mining because in trading you can calculate your risk but in cloud mining you are not in control.

[Adriano2010]

I tried cloud mining on past but i not get ROI, and i lose seomthing like 0.03 bitcoin from what i invest, is better buying if mining at home is not possible because of space, cost of equipment, cost of electricity and other factors.

[adzino]

Most of the cloud mining site that are available now are just pure scam. They are just HYIP or some other ponzie scam. If you ask them to show some proof that they are actually mining something or their mining rigs, they won't be able to do so or they might just show you some fake mining farm. Most of them are fake because cloud mining is no longer profitable and the just are running a ponzie scheme in the name of mining.
I would rather suggest you to buy bitcoin and just hold it.

[xvids]

It is better to buy Bitcoin than to join cloud mining as you can see most of it is a scam a ponzi or a HYIP disguised as a cloud mining company.
So it is much more safer to buy it rather than to try your luck at cloud mining sites.
And if you want to earn in crypto trading is the best way to do it .

[Oilacris]

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.

Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.

Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

This is why these cloud mining sites are slowly dying or simply don't get more cloud mining investors due to unprofitability.

Having a contract doesn't mean that you would end up on having profits more than on the amount you invested and most of
those people who had put up money ending up didn't able to get some roi and even way lesser on their capital.

So,basically I would just buy 1 BTC and wait for a year.It is way more convenient or not a hassle thing for you to think off.
Difficulty is always the biggest factor when talking about profitability on mining.

[The Sceptical Chymist]

I think cloud mining in general is not profitable.
<snip>
Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.

I never tried cloud mining thanks to all the negative stuff I heard about it on this forum, and I don't really want to get scammed.  I'm not sure how profitable it is even if you're working with a legitimate cloud mining service, but it makes a lot more sense to me to use the money that you were going to give to the cloud mining operation and just buy bitcoin flat-out.  Given how volatile the market is, there's a decent chance to make money simply by using a buy-and-hold strategy, and you don't have to worry about what someone else is doing with your money.

And outside of bitcoin, there are plenty of PoS coins that you can stake to earn dividends/interest from.  They're definitely risky, but again, you're in control of where your money is and not some questionable cloud mining operation.

[diazepam666]

Cloud mining is not profitable and you can consider it as ponzi scheme nothing more than that. There are some newbie having idea that they can make money on cloud mining things but that is not true.
If you want to invest on cryptocurrencies that is always great options to put it on bitcoin and Ethereum.
Have these alone your choice to grow your funds.

[Ailmand]

I tried cloud mining before but it didn't work for me. I don't know if there's still a huge number of cloud miners nowadays where it isn't as profitable as before anymore. I would rather focus on buying and holding bitcoin than expecting a profit from cloud mining. It will just disappoint you.

[pushups44]

I have tried mining using a service provider and have found it to be a disappointment, because it is centralized and a company can come up with all kinds of reasons not to honor a contract. Perhaps they will go out of business and liquidate, leaving you with nothing or uncertain just as Mt.Gox customers were. Oftentimes you will not even make a profit for this risk. Thus, I lean toward buying bitcoin directly and holding it in your own wallet.

[playboy654]

It depends on how much investment do you have in your hands it decides that choice because if you have lots of money simply make a investment is profitable for you otherwise if you had their budget amount in your hand you need to split your investment into different parts and use it for different investment it is the right Idea also.

[traderethereum]

Yes, cloud mining now becomes useless because you are difficult to reach the first ROI, especially if bitcoin difficulty increase.
But I already reach my first ROI with Genesis Mining and Hashnest in the past
When you were mining bitcoin at home, you need to think about the electricity fee, and if you don't have big power to mining plus low-cost electricity fee, you will not get a profit too.
I feel it's better to buy bitcoin than mining in this situations, but if you can get a free electricity fee then it is worth to try but make sure you have at least 25 Th/s to start so you can get a nice reward daily.

[Oceat]

It depends on how much investment do you have in your hands it decides that choice because if you have lots of money simply make a investment is profitable for you otherwise if you had their budget amount in your hand you need to split your investment into different parts and use it for different investment it is the right Idea also.

It is still not enough if you do have the right capital/amount, you will get frustrated waiting for your investment while some who do buy before are getting their ROI back already while you are still in the dust of coins waiting for your investment to give you ROI.

[Altcoinrusher]

I think there are compelling reasons why cloud mining did not became so popular and of course one of them is that it only offers very limited profitability but if you would buy down BTC, then you could do some flippening or day trading some alt coins with it at times and earn profits along the way.

[yusupjatigumilar]

It's true, cloud mining is now different from when cloud mining first appeared, now cloud mining is dominated by scams, many of my friends are victims of cloud mining investments, fortunately I have not been interested in that, I also prefer to buy bitcoin from in mining either at home or in the cloud, if I do mining at home it will require a lot of costs such as electricity and internet and other maintenance costs, instead of getting a profit maybe I will only spend a lot of capital without satisfying results,

[BossMacko]

Its better to build your own rig to mine Bitcoin or buy Bitcoin to hold than do cloud mining. I don't trust them anymore since i got scammed before when i was still new to Bitcoin. At first that site is giving profit but then they suddenly run and i was nkt able to profit or even get my initial investment.

[uneng]

Cloud mining is well known by being unprofitable. Nowadays it's really out of fashion, as it was already unmasked years ago. Many people invested on it and regret a lot later, because they were unable to recover at least the amount they invested initially.
And when the cloud mining investment looks too good to be true, it's a hyip investment and doesn't involve any mining operation. It's much better to just buy bitcoins and hold. The right thing to do would be to build your own mining operation, as was said, but it doesn't worth for most investors, considering the machinery and electricity costs. Forget about it.

[lepbagong]

If the current cloud mining situation is running, is that also not profitable? Of course the investment spent is quite large, I think rather than not being implemented there is better to keep going and hope there will be an increase in the price of bitcoin in the future.
If you might just think about starting from the beginning cloud mining, it never hurts to count as well as possible so as not to lose.

[Janation]

Its better to build your own rig to mine Bitcoin or buy Bitcoin to hold than do cloud mining. I don't trust them anymore since i got scammed before when i was still new to Bitcoin. At first that site is giving profit but then they suddenly run and i was nkt able to profit or even get my initial investment.

Cloud mining is great but you need good internet.

I don't understand it but I think I will be investing my money into other things that do cloud mining. I mean I will be wasting my PCs life into something I don't know if I will get paid into or not. If you will be asking me, I still like buying a rig for Bitcoin mining and yes, that is expensive and I hope you should also consider that mining nowadays is not a walk in the park. As time progresses, mining gets harder and harder.

[edisystem]

Cloud mining is a no no for me, it will takes months-years to get ROI on cloud mining and you also need to think what will happen in the future to bitcoin, because it will affect the cloud mining for sure.

Also there are so many cloud mining scam site out there, I rather to simply buying bitcoin and trading.

[Thanasis]

Most of the cloud mining sites are scam and the legits ones are not profitable anymore,if you want to mine bitcoin either you can mine on your own but it needs huge capital to build your farm or just buy bitcoin.

Cloud mining is great but you need good internet.

No,mining doesn't depend on the internet speed,very decent stable connection is enough for mining only the hash rate decides your mining rate.

[CryptoBry]

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.
Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.
Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

You are right, luck is a huge factor in the equation. The difficulty sometimes rise, sometimes drops; of course, overall it rises more than it drops. I didn't do the math, but I think that there's also a chance for profit. So instead of your max 0.8 BTC, there could be something like 0.5(?)-1.25(?) BTC range.
Your conclusion is, however, correct. It's not worth the risk. (And I'd not even insist on how many fake cloud mining companies are around, let's just keep the calculation on legit ones.)

Cloud mining is no longer profiting and at that it not certain if you make a good profits involving in cloud mining but to me it better for one to get involved in trading rather then cloud mining because in trading you can calculate your risk but in cloud mining you are not in control.

I am not really familiar how cloud mining works but according to some sources I read it is called as just downright scam or just plainly ineffective programs when we talk about real return on investment (ROI). However, many people are still attracted into cloud mining programs because most of them are promising good returns to entice investors (tiny investors especially) to come in and stake some money.

Cloud mining is a term for companies that allow you to rent mining hardware they operate and maintain in exchange for a fixed fee and a share of the revenue you’ll make. It basically means that you can mine remotely without the need for buying expensive hardware. Most, if not all, cloud mining companies today are either plain scams or work through an ineffective business model. By ineffective I mean that you will either lose money or earn less than you would have by just buying and holding Bitcoins.

Source: https://99bitcoins.com/bitcoin-mining/cloud-mining/

[bhabygrim]

I think cloud mining in general is not profitable.

Here are my calculations for Mining Cloud vs Buying Bitcoin.

All following calculations are done on annual basis.

All following calculations are done WITHOUT halvings and adjustments counted until you read later down.

Hash rate (total hash power of the world) close to 49 Mil. Th/S as of today May 17, 2019.

Every hour gives the world 6 blocks, multiply that by x 24h x 365 days= 52,560 blocks produced in the world in 1 year.

Currently there are 12.5 bitcoin mined per each block x 52,560 blocks= 657,000 bitcoin can be mined per year in the world if no adjustments and halvings happened.

49 mil. Th : 657,000= about 75 TH/s to mine 1 bitcoin as it stands now, before counting adjustments and halvings.

Let’s assume I bought 1 bitcoin today and paid about $7,200 (as of May 17, 2019) in a hope to sell it in 1 year at a higher price.

Now let’s see what would happen if instead of buying 1 bitcoin I invested the same amount of money in cloud mining.

Typical contract from a firm like Genesis Mining offers 1TH at a rate of about $60 all-inclusive per year (May 17, 2019), and that's including maintenance and other fees.

For $7,200 I can buy about  120TH for 1 year term of cloud mining.

120Th : 75Th per 1 bitcoin= that should give us 1.6 bitcoin over 1 year period of contract for the price of $7,200.
 
1.6 bitcoin is obviously more then 1 bitcoin which I can buy today, so cloud mining is better, right?

I think NOT, because remember we have not counted difficulty adjustments and halvings yet.

Now let’s do that, let's include them in the picture.

The next halving is in about 1 year,  so we don’t have to take it into our example as the contract will be over by the time of halving, so for now we just have to worry about difficulty adjustments.

But from historic data I never seen those adjustments less then 100% year over year and usually it’s even more.

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.

Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.

Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

Of course it isn't profitable anymore if you want to mine Bitcoin do it on your own build your own miner don't invest in a cloud mining .
It is better to build your own rather than trusting your money on them because for me they are only a scam site .
Or if you want you could just buy Bitcoin rather than mine it but if you are looking for a good investment for your future and for a continues income then build a mining farm.

[BigBos]

Most of the cloud mining sites are scam and the legits ones are not profitable anymore,if you want to mine bitcoin either you can mine on your own but it needs huge capital to build your farm or just buy bitcoin.

Cloud mining is great but you need good internet.

No,mining doesn't depend on the internet speed,very decent stable connection is enough for mining only the hash rate decides your mining rate.

right, internet speed is not a problem, the problem is the cost, and care that we need to spend. in this case, I was really interested in mining, but only limited to studying it. so far, I prefer to collect bitcoin directly. I think it is faster, although it is a bit troublesome and risky.

[aad140386]

Mining is generally not particularly beneficial. But if you whant to say that mining is definitely less profitable than buying cryptocurrency will not be true. It all depends on when you go into mining and when you buy a cryptocurrency. It is very important. If you, for example, bought cryptocurrency at $ 10,000 that year and it began to fall and fell all year, then until today you are still in the red. But if you are mining, by investing in equipment, you get cryptocurrency at the price of electricity and you can afford to accumulate it to the next bull market and then sell it more profitably. I made calculations that confirmed my guess that mining could be more profitable.

[ralle14]

if you are looking for a good investment for your future and for a continues income then build a mining farm.

With a budget of 1 Bitcoin or $7000+ it's better to hold one than to buy his own rig because most of the expensive and efficient miners are out of stock. Mining would only become an option if there's a way to reduce the costs (i.e. cheap electricity) because the hash rate and price can stop miners from profiting.

[freedomgo]

I've invested in cloud mining in the early days but they all end up as scam.
Buying bitcoin if we have bough it early, it would already make us rich after the bull run last 2017.
I would buying shitcoins than investing in cloud mining as I have proven I can make money with shit coins, don't know this time around if bull run is strong.

[Thanasis]

Most of the cloud mining sites are scam and the legits ones are not profitable anymore,if you want to mine bitcoin either you can mine on your own but it needs huge capital to build your farm or just buy bitcoin.

Cloud mining is great but you need good internet.

No,mining doesn't depend on the internet speed,very decent stable connection is enough for mining only the hash rate decides your mining rate.

right, internet speed is not a problem, the problem is the cost, and care that we need to spend. in this case, I was really interested in mining, but only limited to studying it. so far, I prefer to collect bitcoin directly. I think it is faster, although it is a bit troublesome and risky.

If you have your own mining rig with less hash rates then it is not profitable to mine bitcoin with it but no need to wate that investment you can mine less difficulty level altcoin which might give decent profits when you hold it.

[shoreno]

Most of the cloud mining sites are scam and the legits ones are not profitable anymore,if you want to mine bitcoin either you can mine on your own but it needs huge capital to build your farm or just buy bitcoin.

Cloud mining is great but you need good internet.

No,mining doesn't depend on the internet speed,very decent stable connection is enough for mining only the hash rate decides your mining rate.

right, internet speed is not a problem, the problem is the cost, and care that we need to spend. in this case, I was really interested in mining, but only limited to studying it. so far, I prefer to collect bitcoin directly. I think it is faster, although it is a bit troublesome and risky.

If you have your own mining rig with less hash rates then it is not profitable to mine bitcoin with it but no need to wate that investment you can mine less difficulty level altcoin which might give decent profits when you hold it.

They say that alts are more better to mine due to their less diffuculty and you can even use lighter devices to be able to mine them while in bitcoin you need to have a good hardware to be able to mine effeciently but that will also cost you more electric consumption  .

Mining is dependent but cloud mining is easy and can be done by anyone but the only downside is that its verry risky since most of the  are known to be a scam and wont lost a longer time .

[Thanasis]

Mining is dependent but cloud mining is easy and can be done by anyone but the only downside is that its verry risky since most of the  are known to be a scam and wont lost a longer time .

If you don't know much about cloud mining then just search it on google you will get a result of only cloud mining scam threads.Actually it is profitable when you did that few year back and only for few times and those profits comes from the investors capital they invested after you so its just like a pyramid kind of investment.

[joinfree]

If not from a trusted farming firm then i really don't like cloud mining platforms and putting all the difficulty adjustments in place you would realize that it is very unlikely to get that 1.6 BTC you spoke about. So why take the risk of investing into cloud mining which sometimes don't pay its users their exact quota of the block reward when you can buy and hold bitcoin for like a year and earn profits from it.

[serjent05]

Mining is dependent but cloud mining is easy and can be done by anyone but the only downside is that its verry risky since most of the  are known to be a scam and wont lost a longer time .

If you don't know much about cloud mining then just search it on google you will get a result of only cloud mining scam threads.Actually it is profitable when you did that few year back and only for few times and those profits comes from the investors capital they invested after you so its just like a pyramid kind of investment.

It wasn't profitable since 2015,  lots of cloudmining that exist that time closed due to the fact that their maintenance cost is way more than what they are gaining.  CEX.IO was once the most largest cloudmining in the industry but they closed that service because of the same reason.  It is best to buy a whole Bitcoin than invest in cloudmining for the reason that you get what you bought.  If you are enticed by the lifetime contract, wake up, many cloudmining had offer this and yes they are true to their word because customers had their contract effective until the company shutsdown or turned into a scam.  Lifetime contract refers to the existence of the company not the existence of the world  .  And most of those who bought these contract never got their ROI.

[bonker]

Buy bitcoins then you will get real bitcoin,if you go for cloud mining sites to make bitcoins then they will run away with your invested money.

[fiulpro]

Also you should understand that mining is pretty expensive when it comes to the part of paying for that , the electricity is too expensive when you use the big softwares needed for the part of profitable mining.
Instead of that if you use some minor softwares you won't be able to get that much profit as compared to the things that you are paying for that .
Also it's banned at some places , other than that trading in altcoins and Bitcoins have been proven to be much more beneficial.
Don't indulge in mining if you are not a pro , it will likely be a waste of time effort and money.
Invest , trade , earn.

[kryptqnick]

I think that given the current situation it's better to simply buy Bitcoin, rather than mine it. Mining is not easy, and it requires both time and investments into the process. Moreover, the price and difficulty rate suggest that it might not even be profitable. Finally, Bitcoin has enough potential of increasing its price, so the profit from buying would probably be worth it on their own. If you choose mining, you first have to get back the money you invested. If you go for direct investment in Bitcoin, whenever the price increases, you are already profiting.

[FlightyPouch]

Well, buying Bitcoin is much better than mining in the cloud. As far as I know, there are a lot of people that are scammed by a site in the past, I don't know the site though since all I heard is that this site did not make the payout to the people that need to be paid. Mining is hard now, and with a lot of miners in the world, I'd rather buy BTC than to mine, even with BTC miner, can't afford it.

[Cosbycoin]

I think buying bitcoin and hodling is better than cloud mining reason being that 95% of the cloud mining industries we have in existence are all scam and are just out there to make a lot of money for themselves before they close down the shop, most of this companies don't even have a miner in their possession and make it looks as if they have so many mining farms in order to deceive innocent crypto users in investing with them, they always pay for some few months and then crash in the sea. So I think it is best to hodl you coin.

[ginobitcoiner]

Cloud Mining has become very risky, why? because they do a lot of fraud, it would be better if you buy bitcoin directly and invest in bitcoin.

[kaya11]

I really wanted to mine since the beginning I entered crypto space. The problem is I don't have the money to buy the equipment I needed. I was able to mine ether but did not take long because I have my pc to my friend but my cards are here with me. I love mining, the thing is I get free electricity that is why. Now if I have the chance and money I would like to buy more cards and a build a rig again. As for now buying small bits of BTC is possible.

[Lucius]

Mining bitcoin with ordinary PC in the beginning was very profitable, difficulty was very low and reward was 50BTC per block. Maybe in some point cloud mining was profitable, but we all know that mining bitcoin today is profitable only for big companies which have very cheap sources of electricity, favorable geographic conditions (related to not too hot climate), and not too big taxes on crypto profits.

If someone manage to start operate mining farm I doubt such farm can be profitable in offering cloud mining, because most of cloud mining is just ponzi sheme, they pay users with money which is coming from new users, and part of the money stays in their pockets.

There is no doubt that buying in this case is right decision, but one should be cautious from where is buying. In some cases people buy bitcoin and get nothing (watch-only wallet, bitcoin address,), so cloud mining vs. buying bitcoin sometimes results in one big 0.

[AjithBtc]

Mining was more profitable in the earlier days, now the difficulty have increased a lot. The initial investment required is very big and what we get out of the investment isn't that profiting. Mining in the cloud is a simple process, but is very hard to find legitimate services. It is good to buy and hold than mining in my opinion considering the growth happening with bitcoin.

[mersal]

I think cloud mining in general is not profitable.

Here are my calculations for Mining Cloud vs Buying Bitcoin.

All following calculations are done on annual basis.

All following calculations are done WITHOUT halvings and adjustments counted until you read later down.

Hash rate (total hash power of the world) close to 49 Mil. Th/S as of today May 17, 2019.

Every hour gives the world 6 blocks, multiply that by x 24h x 365 days= 52,560 blocks produced in the world in 1 year.

Currently there are 12.5 bitcoin mined per each block x 52,560 blocks= 657,000 bitcoin can be mined per year in the world if no adjustments and halvings happened.

49 mil. Th : 657,000= about 75 TH/s to mine 1 bitcoin as it stands now, before counting adjustments and halvings.

Let’s assume I bought 1 bitcoin today and paid about $7,200 (as of May 17, 2019) in a hope to sell it in 1 year at a higher price.

Now let’s see what would happen if instead of buying 1 bitcoin I invested the same amount of money in cloud mining.

Typical contract from a firm like Genesis Mining offers 1TH at a rate of about $60 all-inclusive per year (May 17, 2019), and that's including maintenance and other fees.

For $7,200 I can buy about  120TH for 1 year term of cloud mining.

120Th : 75Th per 1 bitcoin= that should give us 1.6 bitcoin over 1 year period of contract for the price of $7,200.
 
1.6 bitcoin is obviously more then 1 bitcoin which I can buy today, so cloud mining is better, right?

I think NOT, because remember we have not counted difficulty adjustments and halvings yet.

Now let’s do that, let's include them in the picture.

The next halving is in about 1 year,  so we don’t have to take it into our example as the contract will be over by the time of halving, so for now we just have to worry about difficulty adjustments.

But from historic data I never seen those adjustments less then 100% year over year and usually it’s even more.

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.

Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.

Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

investment is enough for a person to become rich but in sometimes it will not give you the heads at that time only you need to think of the next was available otherwise investment is only enough for everyone to get successful.

[akram143]

Both are profitable in the cloud mining your investment will give the the income for you but if you are invested in best cryptocurrency 12 always been the chance to develop suddenly so the positive and negatives are always there equally in both the way of money making.

[Shenzou]

Bitcoin cloud mining was only popular only back in 2014 and 2015 and that was back when the mining difficulty was low, and even back than it was not that profitable, the popularity of it had completely died out when one of the sites that was to be legit just completely shuts off without a trace and with millions of dollars of people's money, and that was when people had enough and lost all trust, so any existing could mining site right now is just a scam and if it is not than it is not profitable so don't try to invest in them and just buy and hold bitcoin for profit.

[kodtycoon]

mining is indeed more profitable but not for cloud mining, because what you invest in cloud mining is never good for you and will only continue to wait longer without any good results you can get, don't be tempted by anything about their promotion because it's just a ways to get more consumers. so it's better to buy bitcoin and hold it because with you holding it or trading it, it will be far more profitable

[Mahanton]

Bitcoin cloud mining was only popular only back in 2014 and 2015 and that was back when the mining difficulty was low, and even back than it was not that profitable, the popularity of it had completely died out when one of the sites that was to be legit just completely shuts off without a trace and with millions of dollars of people's money, and that was when people had enough and lost all trust, so any existing could mining site right now is just a scam and if it is not than it is not profitable so don't try to invest in them and just buy and hold bitcoin for profit.

You mean that Hashocean thing? Or other similar cloud mining company?If it does then theres still lots of cloudmining companies exist into those years but typically
majority of them are just scam and later they do popped out like mushrooms where scammers using up this cloud mining thing and giving out good returns and victimizing
greedy people into those times even nowadays which causes on being scammed their bitcoins.

[imstillthebest]

mining is indeed more profitable but not for cloud mining, because what you invest in cloud mining is never good for you and will only continue to wait longer without any good results you can get, don't be tempted by anything about their promotion because it's just a ways to get more consumers. so it's better to buy bitcoin and hold it because with you holding it or trading it, it will be far more profitable

Mining is more profitable ?  You sure about that   ? If it is then all miners should be rich now  and alll people should switch to mining now  .

 what about cloud mining ?  Cloud mining dont differ much on mining  but are risky and hard   . they take a long time to profit but its good to do them if you like to earn passive income for a lifetime  but if you like quick and easy profits then buying bitcoins or trading is the way to go  .

[finaleshot2016]

Actually, cloud mining will cost you a lot of power consumption so I can't consider it as a profitable one unless you have a lot of mining rigs. It will make you more profit if you have perfectly balanced all of your devices considering the power. Buying bitcoin and trying it in investment will give you a lot of profit. Bitcoin was growing up now and it's the right time for you to invest more because it might get you richer than mining.

mining is indeed more profitable but not for cloud mining, because what you invest in cloud mining is never good for you and will only continue to wait longer without any good results you can get, don't be tempted by anything about their promotion because it's just a ways to get more consumers. so it's better to buy bitcoin and hold it because with you holding it or trading it, it will be far more profitable

I don't think so? There's a lot of factors you must consider before having a mining rig that can be profitable.

[jambul_kribo]

mining is indeed more profitable but not for cloud mining, because what you invest in cloud mining is never good for you and will only continue to wait longer without any good results you can get, don't be tempted by anything about their promotion because it's just a ways to get more consumers. so it's better to buy bitcoin and hold it because with you holding it or trading it, it will be far more profitable

Mining is more profitable ?  You sure about that   ? If it is then all miners should be rich now  and alll people should switch to mining now  .

 what about cloud mining ?  Cloud mining dont differ much on mining  but are risky and hard   . they take a long time to profit but its good to do them if you like to earn passive income for a lifetime  but if you like quick and easy profits then buying bitcoins or trading is the way to go  .

minings profits depend on electricity cost in each countries and bitcoin price.if both of these factors support , maybe mining still profitable to us.most of miner prefer to stop temporary their miner while bitcoin price still below $10.000.and cloud mining personally not recomended , i am prefer to buy bitcoin simplyly.

[bonker]

mining is indeed more profitable but not for cloud mining, because what you invest in cloud mining is never good for you and will only continue to wait longer without any good results you can get, don't be tempted by anything about their promotion because it's just a ways to get more consumers. so it's better to buy bitcoin and hold it because with you holding it or trading it, it will be far more profitable

Mining is more profitable ?  You sure about that   ? If it is then all miners should be rich now  and alll people should switch to mining now  .

 what about cloud mining ?  Cloud mining dont differ much on mining  but are risky and hard   . they take a long time to profit but its good to do them if you like to earn passive income for a lifetime  but if you like quick and easy profits then buying bitcoins or trading is the way to go  .

Cloud mining is different from mining,you are going to give your money to someone for their mining activity and they will give a part of their profits but they are never really do mining they are just playing with money and scamming more and more money so no more cloud mining.

[freedomgo]

mining is indeed more profitable but not for cloud mining, ...

I agree, mining like having a mining farm is profitable for some but not for all as I have friends who stopped mining already due to high electricity expenses compared to what they earned. Mining is only good for places where electricity is cheap.

But cloud mining?,.... 100%, it will just end as scam.

[sulendra12]

Cloud mining sucks and you won't get your investment back unless you are fine with waiting a year just to get your investment back without earning anything, I'd go to latter choice considering how good Bitcoin's price this week and it might become better later on.

[andriarto]

mining is indeed more profitable but not for cloud mining, ...

I agree, mining like having a mining farm is profitable for some but not for all as I have friends who stopped mining already due to high electricity expenses compared to what they earned. Mining is only good for places where electricity is cheap.

But cloud mining?,.... 100%, it will just end as scam.

when the price of low bitcoin is certainly a problem with the costs that must be incurred, such as electricity. indeed for mining requires a lot of energy, so that what is obtained becomes not commensurate with the burden incurred. for now my friends also stop because they are not profitable, and wait for the change of season

[Free1bitco.in]

Cloud mining sucks and you won't get your investment back unless you are fine with waiting a year just to get your investment back without earning anything, I'd go to latter choice considering how good Bitcoin's price this week and it might become better later on.

I think you have a lot of problems regarding cloud mining.
well, maybe now it's natural if we think like that. besides that cloud mining is also at risk with scams, or other things. we cannot half-heartedly run it, and must really be serious. in this case, I also prefer to buy bitcoin directly if I want it.

[JohnBitCo]

I think cloud mining in general is not profitable.

Here are my calculations for Mining Cloud vs Buying Bitcoin.

All following calculations are done on annual basis.

All following calculations are done WITHOUT halvings and adjustments counted until you read later down.

Hash rate (total hash power of the world) close to 49 Mil. Th/S as of today May 17, 2019.

Every hour gives the world 6 blocks, multiply that by x 24h x 365 days= 52,560 blocks produced in the world in 1 year.

Currently there are 12.5 bitcoin mined per each block x 52,560 blocks= 657,000 bitcoin can be mined per year in the world if no adjustments and halvings happened.

49 mil. Th : 657,000= about 75 TH/s to mine 1 bitcoin as it stands now, before counting adjustments and halvings.

Let’s assume I bought 1 bitcoin today and paid about $7,200 (as of May 17, 2019) in a hope to sell it in 1 year at a higher price.

Now let’s see what would happen if instead of buying 1 bitcoin I invested the same amount of money in cloud mining.

Typical contract from a firm like Genesis Mining offers 1TH at a rate of about $60 all-inclusive per year (May 17, 2019), and that's including maintenance and other fees.

For $7,200 I can buy about  120TH for 1 year term of cloud mining.

120Th : 75Th per 1 bitcoin= that should give us 1.6 bitcoin over 1 year period of contract for the price of $7,200.
 
1.6 bitcoin is obviously more then 1 bitcoin which I can buy today, so cloud mining is better, right?

I think NOT, because remember we have not counted difficulty adjustments and halvings yet.

Now let’s do that, let's include them in the picture.

The next halving is in about 1 year,  so we don’t have to take it into our example as the contract will be over by the time of halving, so for now we just have to worry about difficulty adjustments.

But from historic data I never seen those adjustments less then 100% year over year and usually it’s even more.

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.

Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.

Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

I will give you simple analysis on mining and saving bitcoins.

1-Simple mining is expensive and it cannot be done everywhere
2-Cloud mining is risky as there are many scam cloud mining sites around us.
3-Saving bitcoin is the safest option (Provided you save it in your private wallet and not on exchanges)

[whiteblue]

Cloud mining sucks and you won't get your investment back unless you are fine with waiting a year just to get your investment back without earning anything, I'd go to latter choice considering how good Bitcoin's price this week and it might become better later on.

I think you have a lot of problems regarding cloud mining.
well, maybe now it's natural if we think like that. besides that cloud mining is also at risk with scams, or other things. we cannot half-heartedly run it, and must really be serious. in this case, I also prefer to buy bitcoin directly if I want it.

many cases of cloud mining will experience scam cloud mining which has a very high risk if you want to do mining better if you build your own mining or you are still trading because now there are not many advantages to mining the benefits.

[smyslov]

It's profitable if you are going to mine new coins but not Bitcoin, it's one of the reasons why they are still new mineable coins in the market, because the top coins had a very high difficulty and they want to point their rigs to a new one, that's all they do mine new coins until the difficulty gets high, then look for a new coin again to mine.

[jrrsparkles]

It's profitable if you are going to mine new coins but not Bitcoin, it's one of the reasons why they are still new mineable coins in the market, because the top coins had a very high difficulty and they want to point their rigs to a new one, that's all they do mine new coins until the difficulty gets high, then look for a new coin again to mine.

But OP is alsing about cloud mining or mining with our own rigs,we actually need to know cloud mining is becoming absolutely worthless so if you don't know about it then get those informations on various threads on our forum too.And your point about own mining rigs and mining other coins also the good one but not all the coins will be profitable so mine the best potential coin.

[guoyu78]

If you ask me I'd say that the cloud mining seems to be quite better, cause if we are to assume that there isn't halving or all these you have mentioned, and there also happened to be a bull run, then the cloud mining is the best option because you will get more than the 1 Bitcoin (1.6 BTC like you have said) and the price will also increase so cloud in a way better Rohan buying. It just depends on when actually, what happens at that time. It can't be profitable at all times I guess. So you need to plan properly about it.

[engrshu]

Mining is another form of investment, in terms of buying equipments and consuming energy I think it is far more expensive. I haven't heard any good news about cloud mining, all I can see here in the community and even on various searches, the majority of cloud mining are scam so that's another risk. For now, buying btc or any well stablished crypto is far better especially how bearish the market as of these past few months

[LUCKMCFLY]

Due to the calculations you have made, I have done them carefully, and if you have a lot of reason, not only are they good, but the case of mining in the cloud turns out to be not very profitable and very careful because most of them tend to become scam and that's something very serious because everything leads to thinking that anyone does anything for money, and when it comes to mining can be done easily, you are not spending the resources of your own equipment, and I have corroborated what you say in OP because it simply at this moment I have taken account of what a bitcoin is worth at this moment and paying it with the local currency comes out very cheap, taking it to USD and if the bitcoin goes up more than price it would be fabulous.

I think the logic you use is the right one, I can not think of another way to deal with this movement, and I do not see any error in the calculation, so due to this there are many times that you can fall into this type of pages where they assure you that You are mining, but in reality it does not generate you any money.

In this case, I prefer the mining that is done with the mining machines, they present a better profitability taking into account how much you can leave with respect to the Electricity service.

In fact, a few months ago there was talk of a platform that was very safe to mine and it came down, it became scam, that is why mining in the cloud for me, in my case is not usually the best decision.

[iv4n]

Mining is another form of investment, in terms of buying equipments and consuming energy I think it is far more expensive. I haven't heard any good news about cloud mining, all I can see here in the community and even on various searches, the majority of cloud mining are scam so that's another risk. For now, buying btc or any well stablished crypto is far better especially how bearish the market as of these past few months

I think op refers on cloud mining services, where you need to invest in some service that has miners and you are buying hash power from them. In my experience this sites have huge promises, but in the end you need to wait a lot for ROI. I don`t recommend cloud mining to anyone, it`s better and to not mention how safer it is to buy bitcoin, store in hardware wallet and just wait. You will have your amount with you all the time, with cloud mining you are giving them money and they can easily disappear with your investment, that happened before, many times.

[Kevin77]

Cloud mining has always been something very risky, these companies who do cloud mining do take advantage of you and make profit, if there is a way to make profit with mining why wouldn't they do it, they simply get the old rigs from people and then make it work and rent it to you while making money themselves and making you lose money simply from the cost.

They advertise it like it is profitable but when you calculate all the overhead and maintenance costs they are charging you are in debt even before you start. That is why buying bitcoin right away is simply the best method, if you want to do mining yourself then there is always a chance to make profit, sometimes it is great profits sometimes its not but in the end its yours to decide, cloud mining is out of your control.

[scambust]

Cloud mining is a myth. In fact, you are taking more risk investing in such endeavor than just buying and selling Bitcoin even as a noob trader. There is no metric you can extract on how much your contribution helps because everything is opaque.

[dustpine]

Mining is generally not particularly beneficial. But if you whant to say that mining is definitely less profitable than buying cryptocurrency will not be true. It all depends on when you go into mining and when you buy a cryptocurrency. It is very important. If you, for example, bought cryptocurrency at $ 10,000 that year and it began to fall and fell all year, then until today you are still in the red. But if you are mining, by investing in equipment, you get cryptocurrency at the price of electricity and you can afford to accumulate it to the next bull market and then sell it more profitably. I made calculations that confirmed my guess that mining could be more profitable.

You are in minority in this topic. Can you show your calculations?

[nur rochid]

Cloud mining is a myth. In fact, you are taking more risk investing in such endeavor than just buying and selling Bitcoin even as a noob trader. There is no metric you can extract on how much your contribution helps because everything is opaque.

right, I also prefer to buy or sell it personally. thus the risk is in us, not in the hands of others. from the beginning I was not interested in being able to study, so I did not study it further

[shesheboy]

Stay away from cloud mining, easy as that. If you're looking into mining Bitcoin, just invest for your own rig or simply choose the other option which is buying Bitcoin. At least you'll just sit there and relax with a cup of coffee while you wait for any opportunity to sell.

Mining or cloud mining is as easy as buying and selling because you dont need to do anything once you start mining . You dont need to watch the market more often because the profit that you can get on mining can take some time to grow .

single coin in cloud mining, nor I do have any plans to do it in the future. You don't know how many people got scammed from those already. You'll play a bit of luck just to get a legitimate luck (if you're really willing to go for cloud mining).

What about buying ? When you buy you store your coins on an exchange or you store your coins on an online wallet  . There is also a risk with it because you can also got scammed or hacked   . On cloud mining , there are known sites that are legit . You can easily identify them , you dont really need a luck for that  

[legenduim]

I've invested in cloud mining in the early days but they all end up as scam.
Buying bitcoin if we have bough it early, it would already make us rich after the bull run last 2017.
I would buying shitcoins than investing in cloud mining as I have proven I can make money with shit coins, don't know this time around if bull run is strong.

Yes, I know it. Cloud mining seemed to be something that was very attractive (no need to buy hardware at least and pay for the electricity), but the reality was different. It is better to invest in the cryptocurrency.

[whirlcoin]

I think cloud mining in general is not profitable.

Here are my calculations for Mining Cloud vs Buying Bitcoin.

All following calculations are done on annual basis.

All following calculations are done WITHOUT halvings and adjustments counted until you read later down.

Hash rate (total hash power of the world) close to 49 Mil. Th/S as of today May 17, 2019.

Every hour gives the world 6 blocks, multiply that by x 24h x 365 days= 52,560 blocks produced in the world in 1 year.

Currently there are 12.5 bitcoin mined per each block x 52,560 blocks= 657,000 bitcoin can be mined per year in the world if no adjustments and halvings happened.

49 mil. Th : 657,000= about 75 TH/s to mine 1 bitcoin as it stands now, before counting adjustments and halvings.

Let’s assume I bought 1 bitcoin today and paid about $7,200 (as of May 17, 2019) in a hope to sell it in 1 year at a higher price.

Now let’s see what would happen if instead of buying 1 bitcoin I invested the same amount of money in cloud mining.

Typical contract from a firm like Genesis Mining offers 1TH at a rate of about $60 all-inclusive per year (May 17, 2019), and that's including maintenance and other fees.

For $7,200 I can buy about  120TH for 1 year term of cloud mining.

120Th : 75Th per 1 bitcoin= that should give us 1.6 bitcoin over 1 year period of contract for the price of $7,200.
 
1.6 bitcoin is obviously more then 1 bitcoin which I can buy today, so cloud mining is better, right?

I think NOT, because remember we have not counted difficulty adjustments and halvings yet.

Now let’s do that, let's include them in the picture.

The next halving is in about 1 year,  so we don’t have to take it into our example as the contract will be over by the time of halving, so for now we just have to worry about difficulty adjustments.

But from historic data I never seen those adjustments less then 100% year over year and usually it’s even more.

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.

Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.

Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

I think simply investing is very profitable right now because the market condition depends on the development and the Bull Run makes everything profitable so simply investing your money will develop to a huge in the very short period of time so I suggest to invest and make the profit very quickly.

[TimeTeller]

Cloud mining has always been something very risky, these companies who do cloud mining do take advantage of you and make profit, if there is a way to make profit with mining why wouldn't they do it, they simply get the old rigs from people and then make it work and rent it to you while making money themselves and making you lose money simply from the cost.

They advertise it like it is profitable but when you calculate all the overhead and maintenance costs they are charging you are in debt even before you start. That is why buying bitcoin right away is simply the best method, if you want to do mining yourself then there is always a chance to make profit, sometimes it is great profits sometimes its not but in the end its yours to decide, cloud mining is out of your control.

I can attest that cloud mining is really not a profitable investment.
Tried that before in several known cloud mining websites but didn't get even my initial investments afterwards.
Their promise of guaranteed ROI is actually not true at all.
Better invest it in hardware. I know it is pretty expensive but at least if the mining is not profitable anymore, you can always have the hardware on hand.
And if possible, invest in a renewable source of energy, electricity bill can kill your profit every month.

And with that being said, one alternative to gain profit is do the trading of bitcoin also.
You can gain even a small profit if you know how to trade.

[lovesybitz]

2 years ago that was the first time I heard and read some of the articles about in cloud mining site.
And according to what saw for the majority of the community in crypto world, most investors who invested in
cloudmining site they never receive their ROI completely. In short, cloud mining is not profitable.

[wahyu wida]

2 years ago that was the first time I heard and read some of the articles about in cloud mining site.
And according to what saw for the majority of the community in crypto world, most investors who invested in
cloudmining site they never receive their ROI completely. In short, cloud mining is not profitable.

I just heard from the news that cloud mining is less profitable, so I ignored it, and chose to trade to buy potential coins. and it turns out that until now, many are disappointed with cloud minning

[Fredomago]

2 years ago that was the first time I heard and read some of the articles about in cloud mining site.
And according to what saw for the majority of the community in crypto world, most investors who invested in
cloudmining site they never receive their ROI completely. In short, cloud mining is not profitable.

I just heard from the news that cloud mining is less profitable, so I ignored it, and chose to trade to buy potential coins. and it turns out that until now, many are disappointed with cloud minning

Cloud mining is no longer been supported by most bitcoiners, it's been forgotten as there's no profitable results unlike with buying and trading bitcoin
where your chances to earned when you catch it up while its still at the bottom, some still looking for little chance taking the risk of investing inside
cloud but it's just a small portions of those who still believing from cloud integrity.

[binhvo1505]

I understand how you calculate. But these are 2 different areas. Some people really want to be safe with their money, they will use bitcoin mining service on the cloud platform. Some people like to use 1 BTC to hold or trade from time to time. But 2 jobs are different, a passive person and an active one.
The risk is always there and sometimes 1 BTC you buy in 2019 will not have a good price compared to 2020.

[South Park]

Most of the cloud mining site that are available now are just pure scam. They are just HYIP or some other ponzie scam. If you ask them to show some proof that they are actually mining something or their mining rigs, they won't be able to do so or they might just show you some fake mining farm. Most of them are fake because cloud mining is no longer profitable and the just are running a ponzie scheme in the name of mining.
I would rather suggest you to buy bitcoin and just hold it.

Exactly, the calculations made by the OP seem to be correct but he is assuming that cloud mining is in fact an honest activity when we have known for a long time that most of the sites offering such services are scams and cannot show evidence that they actually own any mining equipment, so for all of those that want to mine bitcoin just buy the hardware and join a mining pool and if you do not want to go to the trouble then just buy bitcoin and forget about cloud mining.

[UNOE]

Cloud mining have more risks than their expected rewards for doing it. Be aware of cloud mining ponzis, there are many bad guys on that market. I do not know any cloud mining service that is actually working right now, and thats tells everything about situation. Better buy Bitcoin and hold it at your own, at your own wallet. Be patient and results will come.

[nydiacaskey01]

Question is,is there such thing as cloud mining, I know a few reliable ones like Hashnest but the profits there is too small and the maintenance fee will eat up your profits. That is why I stick to trading because there your coins have more opportunity to grow with careful selection of what coin to buy and careful planning.

[BronxCats]

Is cloud mining specifically made for cryptos, or is it like an Amazon computer service, for example?

[trickyriky]

Mining is another form of investment, in terms of buying equipments and consuming energy I think it is far more expensive. I haven't heard any good news about cloud mining, all I can see here in the community and even on various searches, the majority of cloud mining are scam so that's another risk. For now, buying btc or any well stablished crypto is far better especially how bearish the market as of these past few months

Unfortunately, many cloud mining online services turned out to be simple scammers. I know the best and the most honest way to get Bitcoin and make a profit with it - to buy this cryptocurrency and hold it.

[Oilacris]

Mining is another form of investment, in terms of buying equipments and consuming energy I think it is far more expensive. I haven't heard any good news about cloud mining, all I can see here in the community and even on various searches, the majority of cloud mining are scam so that's another risk. For now, buying btc or any well stablished crypto is far better especially how bearish the market as of these past few months

Unfortunately, many cloud mining online services turned out to be simple scammers. I know the best and the most honest way to get Bitcoin and make a profit with it - to buy this cryptocurrency and hold it.

This is the most simply thing to be done rather than considering yourself to invest with those cloud mining companies which mostly are scams but people

do really need that passive or simple way that's why they do end up on having this kind of option. Volatility alone will already give out an edge because if you
do plan to put you money on a cloud mining site the profitability of yours are not guaranteed and in worst you wont able to reach up ROI compared
when you are just holding your btc that kind of risk wont exist on the extent that you would able to lose it up.

[OrangeSeller]

They are both the same, there are times they are profitable and there are also times that they are not profitable at all. You just have to know when to continue with a particular one and when not to go with it. You can buy Bitcoin today and within a few days the price will drop down seriously. So you never know which one is right and the same thing also applies to cloud mining just like you have explained it, there are times when it is not profitable and there are also times that it can be profitable.

[fankhan466]

I tried cloud mining on past but i not get ROI, and i lose seomthing like 0.03 bitcoin from what i invest, is better buying if mining at home is not possible because of space, cost of equipment, cost of electricity and other factors.

Can you help me in mining setup at home ? i have free electricity ... i want to start from small setup then more....
thx

[coin-investor]

Cloud mining is a thing of the past, I also invested in cloud mining three years ago and joined a lot of cloud mining that offers free hash, but I never got my investment back like a Ponzi scheme I also need to refer and ask my referrals to invest so I can add more hash so I can reach my cashout threshold.

[entebah]

Cloud mining is a thing of the past, I also invested in cloud mining three years ago and joined a lot of cloud mining that offers free hash, but I never got my investment back like a Ponzi scheme I also need to refer and ask my referrals to invest so I can add more hash so I can reach my cashout threshold.

Yes, it is terrible if we invest in Cloud Mining, because most sites lead to fraud, so I only buy Bitcoin from the exchange market, and do normal trading.

[Ayiranorea]

Cloud mining is a thing of the past, I also invested in cloud mining three years ago and joined a lot of cloud mining that offers free hash, but I never got my investment back like a Ponzi scheme I also need to refer and ask my referrals to invest so I can add more hash so I can reach my cashout threshold.

Yes, it is terrible if we invest in Cloud Mining, because most sites lead to fraud, so I only buy Bitcoin from the exchange market, and do normal trading.

Yes, getting into normal trading is perfectly the best way to earn compared to mining where we don't have to do any big work other than just investing on mining equipments and run it. Mining has got a very big community, but cloud mining in most cases is a scam, because what they assure as return on the investment is very big and impossible to get out of mining. One can get a bigger profit on just buying and holding than investing on cloud or other hardware based mining.

[OrangeII]

Cloud mining is a thing of the past, I also invested in cloud mining three years ago and joined a lot of cloud mining that offers free hash, but I never got my investment back like a Ponzi scheme I also need to refer and ask my referrals to invest so I can add more hash so I can reach my cashout threshold.

Yes, it is terrible if we invest in Cloud Mining, because most sites lead to fraud, so I only buy Bitcoin from the exchange market, and do normal trading.

for now I'm also avoiding that. after all, I also tried cloud mining and it didn't work well. so, when I need bitcoin, of course I better buy it directly in a market, or collect it patiently. I think it's better for now.

[Adriano2010]

Indeed is better to avoid cloud mining, i try it and i not made a ROI i invest over 0.1 bitcoin and i get back 0.078 bitcoin, if possible better buy bitcoin and hold for long.

[mangsitin]

Cloud mining does provide fast profits, but it is very high risk when you invest there, they pay for the first time, but for the next is fraud, I have tried it, so I think buying Bitcoin is a good thing.

[shield132]

Question is,is there such thing as cloud mining, I know a few reliable ones like Hashnest but the profits there is too small and the maintenance fee will eat up your profits. That is why I stick to trading because there your coins have more opportunity to grow with careful selection of what coin to buy and careful planning.

As far as I know, hashnest has already changed, btw that doesn't matter. Even cloud mining is worst thing because you never ROI while if you buy bitcoins, there is high chance that price will rise and you'll profit while in cloud mining you even lose what you invested.
So I think comparing of these two isn't correct, especially now when even real mining is dead.

[bettercrypto]

It is good to buy bitcoins than become a miner specially, if you do not have knowledge on how to mine BTC. There are many miners all over the world and mining becomes already a competition since 2014. Due to the large numbers of miner, there is no more good profits. Therefore, I never plan to build mining rigs or buy just to mine.

[KlepZ]

I guess if you’re looking at mining as a long term investment than perhaps it can generate you more coins in the long run but it’s also much more risky. First of all miners can break down, and even if you host them somewhere accidents do happens. Also there’s no way to know how high or low will the Bitcoin mining difficulty reach so numbers can change drastically. If you want an immediate winner than I’d definitely go with buying Bitcoins instead of mining them.

[Rufsilf]

I think buying bitcoin directly is better than cloud mining because right now it is very hard to mine bitcoins and you need to buy a good software for you to be able to mind effectively and if you also do cloud mining through cloud mining websites it is very risky because a lot has been reported as fraudulent. Also if you own a mining rig maintenance can be very expensive and the value of your mined bitcoins may not be enough to cover the maintenance alone.

[TheCoinGrabber]

I tried cloud mining on past but i not get ROI, and i lose seomthing like 0.03 bitcoin from what i invest, is better buying if mining at home is not possible because of space, cost of equipment, cost of electricity and other factors.

Kept hearing about cloud mining before but never bothered trying it out, mostly due to lack of capital. And I'm glad I didn't. It's far easier and affordable to just buy bitcoin and hold.

Not sure about mining alts though, I heard those are more profitable.

[SirLancelot]

Well, if it has advantage, it will as well be having an disadvantages right? So that means that none of them is better than the other. And if what you're talking about is bitcoin mining and cloud mining, I don't think I will be choosing bitcoin mining, cause you already know the difficulties in mining bitcoin. Bitcoin is not like altcoins mining, altcoins are far easier than mining bitcoin. The only thing is that bitcoin is worth more than them, but the question should be whether the profit you're making is more than the expenses you're making for the mining. If the expenses is more than the profit, then it's a waste of time. Cloud mining, you don't really have to stress yourself in any way except in getting the finance you need in order to invest. Anyone you decide to choose, do so wisely.

[darklus123]

I am still on the idea of a cloud mining being one of the most Sh*tty way to earn bitcoins. I still don't get it why would such companies offers that certain services when they actually do it for their own(that only makes them really ponzis). Therefore it is obvious that buying bitcoin is much safer as you can have a full control over your fundings.

Well, if it has advantage, it will as well be having an disadvantages right? So that means that none of them is better than the other. And if what you're talking about is bitcoin mining and cloud mining, I don't think I will be choosing bitcoin mining, cause you already know the difficulties in mining bitcoin. Bitcoin is not like altcoins mining, altcoins are far easier than mining bitcoin. The only thing is that bitcoin is worth more than them, but the question should be whether the profit you're making is more than the expenses you're making for the mining. If the expenses is more than the profit, then it's a waste of time. Cloud mining, you don't really have to stress yourself in any way except in getting the finance you need in order to invest. Anyone you decide to choose, do so wisely.

Of course buying a coin is still better than Cloud Mining which is a ponzi scheme and mining bitcoin which differs on the place that you lived in. Mining your own coins can be better if you are gaining a profit all deductions included.

But still buying a coin and trading it is the best option if you can't have the option of mining your own coin. Tho, one thing is clear here (cloud mining is obviously the worst choice out of 3)

[TheCoinGrabber]

Kept hearing about cloud mining before but never bothered trying it out, mostly due to lack of capital. And I'm glad I didn't. It's far easier and affordable to just buy bitcoin and hold.

Not sure about mining alts though, I heard those are more profitable.

like me who just entered the crypto world, with capital spent to mine it still seemed expensive. indeed buying BTC and holding it in the long run is an option, because it can be adjusted to the ability of personal funds

I just thought it's a bit risky. What if the equipment fails? What if you got scammed? So many things to consider when looking into these mining options.

Buying from an exchange seem to be just easier on the nerves. Sure you'd take a hit with the spread but that's expected. KYC isn't also much of a concern since you're gonna give it up anyway when you cash out mined coins.

[Schirer]

I believe that cloud mining in its core cant be profitable for those who buy the service.
Just think of it in this way: Why people who own the hash power would want to give it to other people when they just can mine themselves?
They can make more money on cloud mining from those who buy for them instead of mining themselves.

[Apes]

from the first page to this, everyone says cloud mining completely scam, unprofitable and a ponzi scheme. and I agree with all of them. there no proof that cloud mining really exists and maintains the GPU mining rig. they only lure with big earnings on their home page. better stay away if want to invest just buy it in exchange.

[coin-investor]

from the first page to this, everyone says cloud mining completely scam, unprofitable and a ponzi scheme. and I agree with all of them. there no proof that cloud mining really exists and maintains the GPU mining rig. they only lure with big earnings on their home page. better stay away if want to invest just buy it in exchange.

Even if they really have those mining rigs there's no guarantee that they will not run away, I've invested in one cloud mining that shows investors that they really do have these mining rigs in their Youtube channel, but they still run away and use the money they scam to pay for electricity, cloud mining is a thing of the past, better do trading.

[AngellSky]

Back in 2016, this field of activity in the cryptocurrency market was not only a day off, but also a less risky point. Today, all mining companies carry a certain risk, because not only can they deceive the user, but also deliver certain problems, since many countries  negative attitude to the cryptocurrency mining.

[guoyu78]

I tried cloud mining on past but i not get ROI, and i lose seomthing like 0.03 bitcoin from what i invest, is better buying if mining at home is not possible because of space, cost of equipment, cost of electricity and other factors.

Kept hearing about cloud mining before but never bothered trying it out, mostly due to lack of capital. And I'm glad I didn't. It's far easier and affordable to just buy bitcoin and hold.

Not sure about mining alts though, I heard those are more profitable.

I do not think I have never for once paid focus to mining too because mining requires lots of money no matter how little the setup is, and the waiting time is too long to make profit compared to investing in the coin directly.  The money I will use to set up mining for a particular coin, I will use it to invest and diversify into different coins.

Mining use to be very interesting when bitcoin first came out and you could get much reward easily, but now that bitcoin is now expensive, to mine it is now has become too expensive too and to mine other coin is not really worth it because you cant full guarantee the future of those coins too, investing will still not cost you as much as mining.

[BigBos]

Back in 2016, this field of activity in the cryptocurrency market was not only a day off, but also a less risky point. Today, all mining companies carry a certain risk, because not only can they deceive the user, but also deliver certain problems, since many countries  negative attitude to the cryptocurrency mining.

for now, I don't know that cloud is so profitable or not. however, I have some bad experiences about it. well, for now I avoid cloud mining, and try to collect bitcoin. I think it's better than investing in coud mining. that is my opinion.

[michellee]

from the first page to this, everyone says cloud mining completely scam, unprofitable and a ponzi scheme. and I agree with all of them. there no proof that cloud mining really exists and maintains the GPU mining rig. they only lure with big earnings on their home page. better stay away if want to invest just buy it in exchange.

Even if they really have those mining rigs there's no guarantee that they will not run away, I've invested in one cloud mining that shows investors that they really do have these mining rigs in their Youtube channel, but they still run away and use the money they scam to pay for electricity, cloud mining is a thing of the past, better do trading.

If he has so many rigs and he can get a free electricity fee or at least, a cheap electricity fee, I think it is worth to mining in his home because he can collect some rewards directly and he doesn't have to pay much money for the fee. But I don't think that it will works with cloud mining because we know that cloud mining now is not profitable anymore. And because of that, it is better if we buy bitcoin directly in the market and we can sell it when it increases.

[X-ray]

Back in 2016, this field of activity in the cryptocurrency market was not only a day off, but also a less risky point. Today, all mining companies carry a certain risk, because not only can they deceive the user, but also deliver certain problems, since many countries  negative attitude to the cryptocurrency mining.

for now, I don't know that cloud is so profitable or not. however, I have some bad experiences about it. well, for now I avoid cloud mining, and try to collect bitcoin. I think it's better than investing in coud mining. that is my opinion.

It's not even profitable but that was a scam. Bitcoin was having a high difficulty to be mined. Those cloud ,mining services are scam. Even if you try to create your own mining rig used asic and you will need a lot of money to make yourself to get profit. Buy bitcoin is much better if you have no knowledge about mining. It's not easy as the people said.

[stadus]

I thought cloud mining is a scam, I read a lot of bad feedback about it, I consider it as a ponzi scheme.

People who believe in crypto and understand it, would rather buy bitcoin and hold that invest in a certain business called cloud mining that gives too good to be true returns, that's one of the big factor to consider, anything like that is surely a scam.

[geegaw]

I thought cloud mining is a scam, I read a lot of bad feedback about it, I consider it as a ponzi scheme.

People who believe in crypto and understand it, would rather buy bitcoin and hold that invest in a certain business called cloud mining that gives too good to be true returns, that's one of the big factor to consider, anything like that is surely a scam.

Since the value of bitcoin goes up very high over time, mining on the cloud platform is always just a scam, too many investors have provided enough evidence to prove this pure fraud, so for any site that provides mining in the cloud, we should not participate to limit unnecessary losses. Instead of using that money to bring wealth to scammers, we should use it to buy bitcoin and hold, which is a very reasonable job that many people are doing, even looking for some good projects to invest, it will be more successful than mining in the cloud

[rdluffy]

I thought cloud mining is a scam, I read a lot of bad feedback about it, I consider it as a ponzi scheme.

People who believe in crypto and understand it, would rather buy bitcoin and hold that invest in a certain business called cloud mining that gives too good to be true returns, that's one of the big factor to consider, anything like that is surely a scam.

It's not a scam, the fact is, if you do the math, you'll see that you only gain if BTC rise the price...so, it's better to buy directly

If a cloud mining offer a lot of money in weeks or months...it's up to you

[hahay]

I only did cloud mining in the past which ultimately did not produce any profit for me. Instead they kept asking for other fees such as increasing the hash or something else, I did receive some coins from them for the investment in cloud mining, but after realizing this it was only a scam mode that had been planned neatly and completely would not be profitable.

[whyrqa-1]

There have repeatedly appeared articles that Bitcoin’s mining payback line is at the level of $ 5,000.  Bitcoin has long passed this mark and fluctuates in the price of about $ 8,000.  Based on this, it can be assumed that the mining is really profitable today, especially in those countries where there are special conditions for electricity tariffs.

[jhonjhon]

Cloud mining can be good if you have your own mining rig and you have the advance tool to do so because if you don’t own one and you only do cloud mining using websites then it might be very difficult to mine bitcoin most especially now. If you don’t have the patience for cloud mining like me then better buy bitcoin and do trading it’ll be a good way to earn money.

[shinharu10282016]

Kept hearing about cloud mining before but never bothered trying it out, mostly due to lack of capital. And I'm glad I didn't. It's far easier and affordable to just buy bitcoin and hold.

Not sure about mining alts though, I heard those are more profitable.

like me who just entered the crypto world, with capital spent to mine it still seemed expensive. indeed buying BTC and holding it in the long run is an option, because it can be adjusted to the ability of personal funds

I just thought it's a bit risky. What if the equipment fails? What if you got scammed? So many things to consider when looking into these mining options.

Buying from an exchange seem to be just easier on the nerves. Sure you'd take a hit with the spread but that's expected. KYC isn't also much of a concern since you're gonna give it up anyway when you cash out mined coins.

If you are buying only parts of bitcoin and other cryptos, KYC should never hinder you since they won't put trade limits each day (Binance has so you should not go there to trade). The exchanges only allow $1000 limit on each withdrawal 'each day' and not care how much you make on trades as long as you don't get too high on your withdrawals for that day.

[cryptoknightt]

Cloud mining can be good if you have your own mining rig and you have the advance tool to do so because if you don’t own one and you only do cloud mining using websites then it might be very difficult to mine bitcoin most especially now. If you don’t have the patience for cloud mining like me then better buy bitcoin and do trading it’ll be a good way to earn money.

now RIG mining seems to have not benefited too much because it was seen from electricity costs and increasing difficulties making RIG mining difficult to produce very large amounts of bitcoin. at this time I prefer to trade bitcoin by making purchases at the exchange that can make it easier for me to get bitcoin.

[darewaller]

Bruh…. You're very wrong. If you ask me, cloud mining is better than traditional mining. A lot of experts that were being interviewed by Cointelegrah say that they believe in cloud mining more than traditional mining and that is the future. It's not everyone that can run the traditional mining cost. Why will I be stressing myself out with traditional mining with all those heavy tasks when I can start cloud mining with as low as $15 on Genesis Mining and even less if I make use of SkyCoinLabs?? If you make use of Cloud mining, it's an investment and it frees you from the stress so that you can focus on other ways of earning extra income.

[ioanbtc]

Mining in the cloud can be risky because of difficulty grow and over time can't make a ROI, also buying 1 bitcoin and getting a profit can take a lot of time and is risky because if price drop maybe people will start to sell and lose money.

[brotherwood12]

just agree with that , but my simple calculation is you need much capital to really get profit of mining rightnow , less than half bitcoin can be mined so it will harder time by time

[Vishnu.Reang]

My solution is very straight-forward and simple. If exchange coins can be procured at a cheaper rate (or even the same rate) as that of the mined coins, then go for the former. What is the point in spending so much time, manpower and effort in mining, when you can simply purchase them from an exchange in a matter of 30 seconds?

[zhekinsp]

I think cloud mining is profitable in this situation because the value of Bitcoin is in the middle of the situation so cloud mining giving the profit without any investment but normal mining needs the electricity lot more that's why I am saying this.

[Lanatsa]

I think cloud mining is profitable in this situation because the value of Bitcoin is in the middle of the situation so cloud mining giving the profit without any investment but normal mining needs the electricity lot more that's why I am saying this.

For average cost of electricity then if btc price is on the level of 10k then I would say that mining it would be already considerable.
We are still on 8k closing to 9k which it is much better compared on mining when btc was still on 3-4k price.
About the question?Cloud mining vs simply buy bitcoin then its no brainer that buying one will always be wiser.

[Moiyah]

I don't want my life to be that hassle. Imagine the cost of electricity, the cost of mining rigs and the time you've been waiting before you finally mine 1btc. If we are talking about some unstressful choice, I would prefer buying bitcoin at low cost and wait for the price pump before selling it. It takes time, yes but at least you are just keeping it in your wallet to grow some profits.

[Free1bitco.in]

I think cloud mining is profitable in this situation because the value of Bitcoin is in the middle of the situation so cloud mining giving the profit without any investment but normal mining needs the electricity lot more that's why I am saying this.

actually, I prefer to have bitcoin directly compared to waiting from cloud mining. I don't know, I better do it myself. besides, many people say that cloud mining is not so profitable. so, of course I prefer a simpler way.

[LogitechMouse]

I tried to do cloud mining and invest the satoshis I got from faucet sites to get some GHS but that was the time that I'm starting to know cryptocurrency. Nowadays, many are saying that cloud mining isn't profitable anymore and most of the sites are purely scams and I agree with them. I'm lucky I think that I didn't invest any penny on cloud mining instead I just bought Bitcoin and hold it.

[kodtycoon]

I tried to do cloud mining and invest the satoshis I got from faucet sites to get some GHS but that was the time that I'm starting to know cryptocurrency. Nowadays, many are saying that cloud mining isn't profitable anymore and most of the sites are purely scams and I agree with them. I'm lucky I think that I didn't invest any penny on cloud mining instead I just bought Bitcoin and hold it.

wise choice not to invest in cloud mining because it won't make a profit too, so it's better to buy bitcoin and hold it for a long time if we don't have much time to do day trading

[FanEagle]

The cloud mining that we used to have is not the same of what we have right now. Currency cloud mining operations are mostly scams and there are very few ones who are legit doing it but they cost so much and the running expenses are so much that you will not make any profit.

Normally back in the day the idea was basically similar to ICO or any crowdfunding, a company would build an equipment for mining and they would need more money to build something even better, so lets say they can make 2 dollars per machine a day, they would rent it out for 1 dollar and get 0.5 for maintenance but would sell it to you for like 3 months or 6 months in advance so you pay upfront which they then use that money to build a machine that would make them 4 dollars not 2, so you rent that in advance whereas old machine becomes worthless before the time runs out and they would use that to build an 8 dollar machine and continue like that.

[Barbut]

Better vhy coins you wish to have, download wallet and keep your private keys safe. It's safe investment for the future, investing in cloud mining services is like trowing away your money. I don't believe that some people still fall on this kind of scams, probably newbies that don't knowuch about cryptocurrencies.

[indrakusumaindra]

I think cloud mining in general is not profitable.

Here are my calculations for Mining Cloud vs Buying Bitcoin.

All following calculations are done on annual basis.

All following calculations are done WITHOUT halvings and adjustments counted until you read later down.

Hash rate (total hash power of the world) close to 49 Mil. Th/S as of today May 17, 2019.

Every hour gives the world 6 blocks, multiply that by x 24h x 365 days= 52,560 blocks produced in the world in 1 year.

Currently there are 12.5 bitcoin mined per each block x 52,560 blocks= 657,000 bitcoin can be mined per year in the world if no adjustments and halvings happened.

49 mil. Th : 657,000= about 75 TH/s to mine 1 bitcoin as it stands now, before counting adjustments and halvings.

Let’s assume I bought 1 bitcoin today and paid about $7,200 (as of May 17, 2019) in a hope to sell it in 1 year at a higher price.

Now let’s see what would happen if instead of buying 1 bitcoin I invested the same amount of money in cloud mining.

Typical contract from a firm like Genesis Mining offers 1TH at a rate of about $60 all-inclusive per year (May 17, 2019), and that's including maintenance and other fees.

For $7,200 I can buy about  120TH for 1 year term of cloud mining.

120Th : 75Th per 1 bitcoin= that should give us 1.6 bitcoin over 1 year period of contract for the price of $7,200.
 
1.6 bitcoin is obviously more then 1 bitcoin which I can buy today, so cloud mining is better, right?

I think NOT, because remember we have not counted difficulty adjustments and halvings yet.

Now let’s do that, let's include them in the picture.

The next halving is in about 1 year,  so we don’t have to take it into our example as the contract will be over by the time of halving, so for now we just have to worry about difficulty adjustments.

But from historic data I never seen those adjustments less then 100% year over year and usually it’s even more.

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.

Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.

Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

well there is a lot of thing that you need to consider lets say by buying bitcoin you are making a profit by trading it or just hold your assets. But by mining that means you are converting the fee of energy into bitcoin. So i do think if your country have a low cost in electricity it would be nice for you to mining bitcoin and the bitcoin that you earn could be considered as investments or you can even sell it immediately. So its matter of choices and both are good and there is nothing wrong whether you buying or mining it.

[freedomgo]

Better vhy coins you wish to have, download wallet and keep your private keys safe. It's safe investment for the future, investing in cloud mining services is like trowing away your money. I don't believe that some people still fall on this kind of scams, probably newbies that don't knowuch about cryptocurrencies.

Most likely newbies are the easy victim of this scams, newbies needs to be smarter now, they will learn a lot in this forum if they will use it wisely.
By simply searching cloud mining here, they will know the feedback, and they'll find it not profitable to invest.

[RealMalatesta]

I thought cloud mining is a scam, I read a lot of bad feedback about it, I consider it as a ponzi scheme.

People who believe in crypto and understand it, would rather buy bitcoin and hold that invest in a certain business called cloud mining that gives too good to be true returns, that's one of the big factor to consider, anything like that is surely a scam.

That has always been most investorschallenges, we look at projects or investments that looks too good to be true and yet we continue to invest in them, nothing good is really easy I must confess, and we have lots of genuine cloud mining programs that gives good returns, but notwithstanding, the returns are not like some that we see that is quite outrageous.

Mining does not even pay that much again generally unlike before and many people would rather prefer to invest in Bitcoin directly and wait for the bull run for them to get profit than to go into mining business which is still a little bit expensive too.

[mangsitin]

Personally, I say that Cloud mining has a very long profit level, because we have to wait for the return of funds before getting a profit, so for me it is very boring to wait for profit on the Cloud Mining.

[boyptc]

Personally, I say that Cloud mining has a very long profit level, because we have to wait for the return of funds before getting a profit, so for me it is very boring to wait for profit on the Cloud Mining.

It's no longer profitable, check the contracts and see if they are profitable.

And there's a high chance that you will invest to scam cloud mining so better stay away from investing into such. Buy bitcoin, hold and do something else while waiting for its all time high.

[shulc7]

just agree with that , but my simple calculation is you need much capital to really get profit of mining rightnow , less than half bitcoin can be mined so it will harder time by time

The question was about cloud mining, which does not need great investments. However, I do not trust much cloud mining propositions. Investing in Bitcoin seems to be honest and more promising. I am for buying BTC.

[nydiacaskey01]

For those who are mining their own coins are complaining about the cost of maintenance, electricity and labor cost, what more for those who are just doing it by cloud mining? I always think that cloud mining is nothing but a ponzi scheme that is ready to collapse any moment. Just look at scrypt.cc and cloudminr.io, they are an example of a popular cloud mining that shut down a few years ago.

[coin_1122]

Personally, I say that Cloud mining has a very long profit level, because we have to wait for the return of funds before getting a profit, so for me it is very boring to wait for profit on the Cloud Mining.

Already we have seen many scams in the Cloud mining websites, everything seems to be a higher percentage of income but it will take very long to get our investment. Most of the cloud mining websites are completely based on the profit-sharing method basis of the number of investments they got.

[Free1bitco.in]

Personally, I say that Cloud mining has a very long profit level, because we have to wait for the return of funds before getting a profit, so for me it is very boring to wait for profit on the Cloud Mining.

Already we have seen many scams in the Cloud mining websites, everything seems to be a higher percentage of income but it will take very long to get our investment. Most of the cloud mining websites are completely based on the profit-sharing method basis of the number of investments they got.

well, almost all sites that I have listed have the same pattern. give profit at first, then disappear with the not so clear news, and others. however, at the moment I still avoid cloud mining sites.

[tbterryboy]

Let me assume that the market is in a very good condition and there is every chance that I'm going to make huge profit within a year or just few months just like in the past few years when there was bull then, then I'm opting for buying Bitcoin direct and storing in it in my wallet. That would be more quick to earn my profit than making use of cloud mining. I haven't made use of cloud mining before but based on what people have told me, it takes long to make any profit from cloud mining and the profit is not much.

[fullhdpixel]

Better vhy coins you wish to have, download wallet and keep your private keys safe. It's safe investment for the future, investing in cloud mining services is like trowing away your money. I don't believe that some people still fall on this kind of scams, probably newbies that don't knowuch about cryptocurrencies.

Most likely newbies are the easy victim of this scams, newbies needs to be smarter now, they will learn a lot in this forum if they will use it wisely.
By simply searching cloud mining here, they will know the feedback, and they'll find it not profitable to invest.

Very soon,   that era will come when scammers will no longer see anyone to fall into their trap, not even newbies.

That will be for newbies that that are willing to make research first before making investment, because some of us made some silly mistakes in our decision as a newbie because we didn’t really go through forum to see people’s comment or seek people’s opinion before investing, but I think now that the news is all over the internet and everyone knows that they need to beware of scammers, it may be a bit difficult for scammers to fall for scam projects again, and I think that is why we keep having less news nowadays about people being scammed, I indeed believe too that scammers era is already going out if they are not planning another strategy though.

[Free1bitco.in]

Let me assume that the market is in a very good condition and there is every chance that I'm going to make huge profit within a year or just few months just like in the past few years when there was bull then, then I'm opting for buying Bitcoin direct and storing in it in my wallet. That would be more quick to earn my profit than making use of cloud mining. I haven't made use of cloud mining before but based on what people have told me, it takes long to make any profit from cloud mining and the profit is not much.

agree with what you think. for now it's better to buy in the market than cloud mining. I have joined cloud mining several times, and ended a scam. I think buying directly will reduce the risk we get. I would rather agree to buy it directly.

[sulendra12]

agree with what you think. for now it's better to buy in the market than cloud mining. I have joined cloud mining several times, and ended a scam. I think buying directly will reduce the risk we get. I would rather agree to buy it directly.

But buying yourself hardware miner needs lot of money and if your electricity cost is too high and your profit from mining is not even close to pay the fee and then it's not your choice to have miner. You have to make a research and survey for everything just to make sure you can get profit from there.

[semobo]

Let me assume that the market is in a very good condition and there is every chance that I'm going to make huge profit within a year or just few months just like in the past few years when there was bull then, then I'm opting for buying Bitcoin direct and storing in it in my wallet. That would be more quick to earn my profit than making use of cloud mining. I haven't made use of cloud mining before but based on what people have told me, it takes long to make any profit from cloud mining and the profit is not much.

This thread is about cloud mining vs mining on your own so keep the concept of buying bitcoins away.

Cloud mining are scams so don't get cheated so if you has the ability to build your own mining rig which might be expensive but worth to do.

[jakoylantern]

For me, it depends on the person mining in the cloud vs. directly buying bitcoin or trading it to make a profit is a way too different to me. Yes, it has the same point that you will have a bitcoin, but some people don’t want to buy bitcoin or analyzed when will be an excellent time to buy a much a portable rate for them compared to the people that want to mine. If you are the people, that want to mine bitcoin and just want to calculate if your grows income still profitable to bitcoin’s value and if yes I’m sure you still continue mining right. But if your not that kind of person I’m sure you try buying and selling bitcoin or trading to make sure that you analyzed thoroughly and make a more significant profit and I think much faster to gain some bitcoins if you trade a large amount of money. 

[Oilacris]

Let me assume that the market is in a very good condition and there is every chance that I'm going to make huge profit within a year or just few months just like in the past few years when there was bull then, then I'm opting for buying Bitcoin direct and storing in it in my wallet. That would be more quick to earn my profit than making use of cloud mining. I haven't made use of cloud mining before but based on what people have told me, it takes long to make any profit from cloud mining and the profit is not much.

This thread is about cloud mining vs mining on your own so keep the concept of buying bitcoins away.

Cloud mining are scams so don't get cheated so if you has the ability to build your own mining rig which might be expensive but worth to do.

Expensive but not an assurance or worthy thing as you speak because there are lots of considerations before you

would decide to continue with mining on your own yet you would might end up on not to be profitable and just make you regret in the end.

For the question about choices then I would simply buying bitcoin and hold.Its stress free but if you do like to explore then have the passion
to mine then you can choose whatever you want as long you do know the risk behind.

[BitBustah]

Its almost always better to just buy bitcoin outright instead of investing in anything mining related.  An exception could be made if you get some big tax incentives for having a clean energy source like solar or wind.

[semobo]

Let me assume that the market is in a very good condition and there is every chance that I'm going to make huge profit within a year or just few months just like in the past few years when there was bull then, then I'm opting for buying Bitcoin direct and storing in it in my wallet. That would be more quick to earn my profit than making use of cloud mining. I haven't made use of cloud mining before but based on what people have told me, it takes long to make any profit from cloud mining and the profit is not much.

This thread is about cloud mining vs mining on your own so keep the concept of buying bitcoins away.

Cloud mining are scams so don't get cheated so if you has the ability to build your own mining rig which might be expensive but worth to do.

Expensive but not an assurance or worthy thing as you speak because there are lots of considerations before you

would decide to continue with mining on your own yet you would might end up on not to be profitable and just make you regret in the end.

For the question about choices then I would simply buying bitcoin and hold.Its stress free but if you do like to explore then have the passion
to mine then you can choose whatever you want as long you do know the risk behind.

We can consider mining as long term passive income which continue to do mine as long as we wish but when holding anything might happes and at the end the profits will be based on mining difficulty and how losg the mined coins can be hold.

[shoreno]

Let me assume that the market is in a very good condition and there is every chance that I'm going to make huge profit within a year or just few months just like in the past few years when there was bull then, then I'm opting for buying Bitcoin direct and storing in it in my wallet. That would be more quick to earn my profit than making use of cloud mining. I haven't made use of cloud mining before but based on what people have told me, it takes long to make any profit from cloud mining and the profit is not much.

This thread is about cloud mining vs mining on your own so keep the concept of buying bitcoins away.

Cloud mining are scams so don't get cheated so if you has the ability to build your own mining rig which might be expensive but worth to do.

Expensive but not an assurance or worthy thing as you speak because there are lots of considerations before you

would decide to continue with mining on your own yet you would might end up on not to be profitable and just make you regret in the end.

For the question about choices then I would simply buying bitcoin and hold.Its stress free but if you do like to explore then have the passion
to mine then you can choose whatever you want as long you do know the risk behind.

We can consider mining as long term passive income which continue to do mine as long as we wish but when holding anything might happes and at the end the profits will be based on mining difficulty and how losg the mined coins can be hold.

what about buying/investing bitcoin ? this act can also be done on different terms ( short , mid , or long term ) same as on mining as you can also decide  on how long you will mine a coin .

 there are legit cloud mining out there but its still better to mine on your own for more secure profits but if i were to decide i think i will still go on buying bitcoin and will use them for investment because i dont have access to large capital in order for me to get started on a mining business .

[semobo]

what about buying/investing bitcoin ? this act can also be done on different terms ( short , mid , or long term ) same as on mining as you can also decide  on how long you will mine a coin .

 there are legit cloud mining out there but its still better to mine on your own for more secure profits but if i were to decide i think i will still go on buying bitcoin and will use them for investment because i dont have access to large capital in order for me to get started on a mining business .

As I said its not about buying and selling the bitcoin only with cloud mining or mine by yourself.

Cloud mining are like pyramid so possibly we are not going to anything in return when we deeply analysis.

[Barbut]

what about buying/investing bitcoin ? this act can also be done on different terms ( short , mid , or long term ) same as on mining as you can also decide  on how long you will mine a coin .

there are legit cloud mining out there but its still better to mine on your own for more secure profits but if i were to decide i think i will still go on buying bitcoin and will use them for investment because i dont have access to large capital in order for me to get started on a mining business .

As I said its not about buying and selling the bitcoin only with cloud mining or mine by yourself.

Cloud mining are like pyramid so possibly we are not going to anything in return when we deeply analysis.

Nobody sane would invest in cloud mining service, nobody with at least some brain in the head. Who invests in cloud mining service deserves to be scammed, when there are so many warnings around. Why not buying bitcoins, keeping them in the hard wallet and just wait for the price to grow, with occasionally adding up more coins is the safest thing, everything else that gives you promises to grow your bitcoins is 99% a scam.

[entebah]

Yes right, whatever persuasion and seduction from the Cloud mining site, then you do not trust it, please if you want your money to be lost easily, because the experience I have personally invested in there and suffered losses due to the webiste suddenly disappeared, and that made me not trust Cloud mining again.

[Wallflower28]

Actually, both of them are beneficial. Cloud mining is profitable since every mine of bitcoin increasing when it is growing up. If you are a miner, you will just look for rigs and mine till you want. Buying bitcoin is so good also. I guess those who buy it are too lucky when it is low value. As of now, bitcoin is almost 12k dollars.

[boyptc]

Actually, both of them are beneficial. Cloud mining is profitable since every mine of bitcoin increasing when it is growing up.

Cloud mining IMHO is no longer beneficial/profitable. And it's likely that everyone will tell the same.

Buying bitcoin is so good also. I guess those who buy it are too lucky when it is low value. As of now, bitcoin is almost 12k dollars.

It reached $13k awhile ago and then goes back to $12k. Buying low, sell high, profitable isn't it?

[rose9696]

 Yes, but sometimes you can combine both to get the highest profit. The purchase of bitcoin is easy and it is easy to exploit Bitcoin on cloud computing. You just need to collect an old phone number and start giving it to you, you still go to work and use the salary to buy BTC.
after 3-4 years, you can withdraw Bitcoin and sell it. I think that time, the price of BTC has increased to $ 40k.

[plescruslo]

Bitcoin is not easy to mine, if you said altcoins, that would have been better cause most of them are very easy to mine and mining them are even more profitable than when you're buying. Since you said Bitcoin, I would say it is best for anyone to just buy and speculate, instead of mining. Unless you know that you can afford the cost for mining then you can go ahead for it and buy the equipment's that you will be needing for it, the hot hardware of course, then start mining. That's the last thing I ever plan to do. My friend used to mine Bitcoin but he couldn't bear the cost of it, so he had to quit from mining and sell the hardwares and focused on buying Bitcoin. The case might not be the same for everyone.

[Irvinn]

They always said that if the miner had cheap energy sources, then Bitcoin mining was really cheap.  But if we consider that the cost of Bitcoin is only $ 5,000, then today Bitcoin mining is more than profitable.

[Ranly123]

I think cloud mining in general is not profitable.

Here are my calculations for Mining Cloud vs Buying Bitcoin.

All following calculations are done on annual basis.

All following calculations are done WITHOUT halvings and adjustments counted until you read later down.

Hash rate (total hash power of the world) close to 49 Mil. Th/S as of today May 17, 2019.

Every hour gives the world 6 blocks, multiply that by x 24h x 365 days= 52,560 blocks produced in the world in 1 year.

Currently there are 12.5 bitcoin mined per each block x 52,560 blocks= 657,000 bitcoin can be mined per year in the world if no adjustments and halvings happened.

49 mil. Th : 657,000= about 75 TH/s to mine 1 bitcoin as it stands now, before counting adjustments and halvings.

Let’s assume I bought 1 bitcoin today and paid about $7,200 (as of May 17, 2019) in a hope to sell it in 1 year at a higher price.

Now let’s see what would happen if instead of buying 1 bitcoin I invested the same amount of money in cloud mining.

Typical contract from a firm like Genesis Mining offers 1TH at a rate of about $60 all-inclusive per year (May 17, 2019), and that's including maintenance and other fees.

For $7,200 I can buy about  120TH for 1 year term of cloud mining.

120Th : 75Th per 1 bitcoin= that should give us 1.6 bitcoin over 1 year period of contract for the price of $7,200.
 
1.6 bitcoin is obviously more then 1 bitcoin which I can buy today, so cloud mining is better, right?

I think NOT, because remember we have not counted difficulty adjustments and halvings yet.

Now let’s do that, let's include them in the picture.

The next halving is in about 1 year,  so we don’t have to take it into our example as the contract will be over by the time of halving, so for now we just have to worry about difficulty adjustments.

But from historic data I never seen those adjustments less then 100% year over year and usually it’s even more.

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.

Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.

Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

Mining needs an extra power source and you need to invest in it so I also think it would no be that profitable at all. Meanwhile, buying Bitcoin does not need any extra source and just buying and holding alone makes profit for a long term.

[imstillthebest]

- snip -

Mining needs an extra power source and you need to invest in it so I also think it would no be that profitable at all. Meanwhile, buying Bitcoin does not need any extra source and just buying and holding alone makes profit for a long term.

mining needs extra power but buying also need extra power because you are using a gadget when you monitor the price and do other crypto related transactions  . if mining needs investment , buying bitcoin is also an investment  .

They always said that if the miner had cheap energy sources, then Bitcoin mining was really cheap.  But if we consider that the cost of Bitcoin is only $ 5,000, then today Bitcoin mining is more than profitable.

thats true . mining is better if you have a cheaper electrill bill because you can run it passively  but the truth is that not all countries have a cheap electric cost  . so the best option would option would still be buying bitcoins  .

[BigBos]

They always said that if the miner had cheap energy sources, then Bitcoin mining was really cheap.  But if we consider that the cost of Bitcoin is only $ 5,000, then today Bitcoin mining is more than profitable.

I think nowadays, people will give priority to buying it directly in the market rather than looking for assets through cloud mining. well, we know the risk. other than that, the price of bitcoin is also rising, so I think it's natural to buy it directly.

[Lanatsa]

They always said that if the miner had cheap energy sources, then Bitcoin mining was really cheap.  But if we consider that the cost of Bitcoin is only $ 5,000, then today Bitcoin mining is more than profitable.

I think nowadays, people will give priority to buying it directly in the market rather than looking for assets through cloud mining. well, we know the risk. other than that, the price of bitcoin is also rising, so I think it's natural to buy it directly.

Its always been suggested and if you are somewhat wiser than others on considering for long term potential views then Bitcoin would really fit out
into the criteria.Hence,it did prove out for how many years until this time on how it moves and it do give out profits for its supporter or users when holding
up for long term.Price % overtime is much more better than any traditional investments that we had known but somehow it do equates or corresponds on the risk involved.

I once tried cloud mining, and this is not a very pleasant experience for me - it would be better if I just bought bitcoin. If you want to do mining, collect a normal farm. Only those who have invested in cloud mining speak of the profitability of cloud mining. )

Even mining with your own personal miners doesn't give out assurance of profitability.How much more on cloud mining minding that those do had deductions in regards with fees etc?

[pixie85]

Actually, both of them are beneficial. Cloud mining is profitable since every mine of bitcoin increasing when it is growing up. If you are a miner, you will just look for rigs and mine till you want. Buying bitcoin is so good also. I guess those who buy it are too lucky when it is low value. As of now, bitcoin is almost 12k dollars.

What are you talking about? Cloud mining is only profitable if you "work" for them by getting referrals participating in all their games polls and giveaways.

If it were profitable so many cloud mining companies would not go bust. Now there's almost none left. Buying bitcoin is more profitable than mining yourself or in the cloud and is also much less risky.

[BennyK]

Mining in the cloud is very difficult because to get a single Bitcoin from cloud mining means lots of hard work and time required. Buying Bitcoin is the fastest, easiest and smartest way to own Bitcoin only if one has the funds to purchase. In this way, one can purchase 1BTC within the next few minutes which the cloud mining cannot give within the same time frame.

[shoreno]

In 2017, I tried cloud mining with its big promises of profit, but I didn’t get anything, the company "hashflare" did I requested not only a large commission for the withdrawal of my $ 4, but also my identity card, which I refused to provide in view of the meager amount.

back on the days  , mining or simply cloud mining is still hot and profitable and mining companies like hashflare are known to be paying but idk if what is thier real status now  . you should recieve your payment back then , if your account is clean and do abide thier rules  . your withdrawal 4usd is only small and they should have process it without any reason  . thats only the disadvantage of cloud mining because you are entrusting your fund to someone else and they have the right to do anything about it , if you dont want a boss like that better if you only mine bitcoin yourself  .

[hahay]

Mining in the cloud is very difficult because to get a single Bitcoin from cloud mining means lots of hard work and time required. Buying Bitcoin is the fastest, easiest and smartest way to own Bitcoin only if one has the funds to purchase. In this way, one can purchase 1BTC within the next few minutes which the cloud mining cannot give within the same time frame.

Not so, in cloud mining we only need to buy ghs or invest your money and of course you won't need much time to do it, because mining will continue without you having to observe it all the time. Cloud mining isn't really profitable even though there are still really profitable ones but it's hard to find, so with so many risks it would be better to just buy bitcoin and hold it for a long time.

[bitbunnny]

In 2017, I tried cloud mining with its big promises of profit, but I didn’t get anything, the company "hashflare" did I requested not only a large commission for the withdrawal of my $ 4, but also my identity card, which I refused to provide in view of the meager amount.

You are not the only one with such experience. In general I wouldn't suggest cloud mining, it's a big chance you will lose your money and sometimes your personal data because this is usualy a scam. In fact I don't know any legitimate cloud mining service.
So, if you don't have the opportunity to earn Bitcoin is still better to buy it than to invest in cloud mining.

[FlightyPouch]

Mining in the cloud is very difficult because to get a single Bitcoin from cloud mining means lots of hard work and time required. Buying Bitcoin is the fastest, easiest and smartest way to own Bitcoin only if one has the funds to purchase. In this way, one can purchase 1BTC within the next few minutes which the cloud mining cannot give within the same time frame.

Mining bitcoin through cloud is really difficult not only because you are working for them but this is not even a choice to earn a good amount of bitcoin. Buying bitcoin is not the fastest, it is the easiest and most reliable way to get bitcoin. Obviously, you can't mine a bitcoin in a minute, even if you are using a mining rig, especially with the difficulty of it these days and in the near future.

[Bitcoin Smith]

I think cloud mining in general is not profitable.

Here are my calculations for Mining Cloud vs Buying Bitcoin.

All following calculations are done on annual basis.

All following calculations are done WITHOUT halvings and adjustments counted until you read later down.

Hash rate (total hash power of the world) close to 49 Mil. Th/S as of today May 17, 2019.

Every hour gives the world 6 blocks, multiply that by x 24h x 365 days= 52,560 blocks produced in the world in 1 year.

Currently there are 12.5 bitcoin mined per each block x 52,560 blocks= 657,000 bitcoin can be mined per year in the world if no adjustments and halvings happened.

49 mil. Th : 657,000= about 75 TH/s to mine 1 bitcoin as it stands now, before counting adjustments and halvings.

Let’s assume I bought 1 bitcoin today and paid about $7,200 (as of May 17, 2019) in a hope to sell it in 1 year at a higher price.

Now let’s see what would happen if instead of buying 1 bitcoin I invested the same amount of money in cloud mining.

Typical contract from a firm like Genesis Mining offers 1TH at a rate of about $60 all-inclusive per year (May 17, 2019), and that's including maintenance and other fees.

For $7,200 I can buy about  120TH for 1 year term of cloud mining.

120Th : 75Th per 1 bitcoin= that should give us 1.6 bitcoin over 1 year period of contract for the price of $7,200.
 
1.6 bitcoin is obviously more then 1 bitcoin which I can buy today, so cloud mining is better, right?

I think NOT, because remember we have not counted difficulty adjustments and halvings yet.

Now let’s do that, let's include them in the picture.

The next halving is in about 1 year,  so we don’t have to take it into our example as the contract will be over by the time of halving, so for now we just have to worry about difficulty adjustments.

But from historic data I never seen those adjustments less then 100% year over year and usually it’s even more.

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.

Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.

Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

both are very good ways to make your income to be increased but it's everything not suitable for everyone there are different people in this world so experience them will be the decision making time.

[Free1bitco.in]

In 2017, I tried cloud mining with its big promises of profit, but I didn’t get anything, the company "hashflare" did I requested not only a large commission for the withdrawal of my $ 4, but also my identity card, which I refused to provide in view of the meager amount.

You are not the only one with such experience. In general I wouldn't suggest cloud mining, it's a big chance you will lose your money and sometimes your personal data because this is usualy a scam. In fact I don't know any legitimate cloud mining service.
So, if you don't have the opportunity to earn Bitcoin is still better to buy it than to invest in cloud mining.

speaking of experience, I think there is enough cloud mining that made me quite frustrated in the past. true, most of it ends in a scam. after experiencing this I am not very interested in producing bitcoin through cloud mining anymore. I suggest buying bitcoin instead of cloud mining. for now, I don't really know about the development of cloud mining, it's just that I believe more in buying bitcoin, and try to use it better than cloud mining. or maybe it's better to build a rig for mining purposes, it's better when you're interested in mining.

[bitgolden]

I once tried cloud mining, and this is not a very pleasant experience for me - it would be better if I just bought bitcoin. If you want to do mining, collect a normal farm. Only those who have invested in cloud mining speak of the profitability of cloud mining. )

All these third party mining, I just dint buy into the idea, because it can still never be like setting up your own mining farm which is even faster in operation and generate more, just that setting it up is too costly and if it were to be the mining machine cost alone, it would not have been an issue, is it not just to get alone for it which I know that it would definitely be profitable for one to pay it back, but the cost of electricity is what is making it quite difficult for people to be able to go into setting up a farm for mining.

If we cannot mine, the only choice we are then left with is the investment in bitcoin, at least that one too is profitable and when the bull run starts, it would not make us have any missing space of not being able to mine, because we would have been overwhelmed of the profit that we have.

[illnino]

I once tried cloud mining, and this is not a very pleasant experience for me - it would be better if I just bought bitcoin. If you want to do mining, collect a normal farm. Only those who have invested in cloud mining speak of the profitability of cloud mining. )

Cloud mining can turn to be a scam. One of the most important criteria is the transparency of information published on the official website of the service. Give preference to trusted sites and pools. Pay attention to the terms of the proposed contracts. If the service promises you to recoup your investment in less than 6 months, then most likely they are scammers. Do not be fooled by favorable conditions, remember that free cheese is offered only in a mousetrap.

[tungaqhd]

I once tried cloud mining, and this is not a very pleasant experience for me - it would be better if I just bought bitcoin. If you want to do mining, collect a normal farm. Only those who have invested in cloud mining speak of the profitability of cloud mining. )

Cloud mining can turn to be a scam. One of the most important criteria is the transparency of information published on the official website of the service. Give preference to trusted sites and pools. Pay attention to the terms of the proposed contracts. If the service promises you to recoup your investment in less than 6 months, then most likely they are scammers. Do not be fooled by favorable conditions, remember that free cheese is offered only in a mousetrap.

In a time when the trend of cloud mining was no longer popular and there were so many bad reputations, I don't think we should invest in any similar service or system, it's almost a scam, although a few are probably reliable, I really don't know how long we will need to recover the capital and make a profit. Finding a profit in the cloud mining crisis would be unwise, buying bitcoin is probably simpler, even through bitcoin we have many other activities that can increase profits and all under our management, not worrying about scams

[stadus]

I tried to do cloud mining and my impressions are: Cloud mining is very susceptible to the market situation and quickly becomes unprofitable. It is better to buy Bitcoin at the right time and make a profit.

You are not in control in cloud mining, IMO, it's called an investment for people that are mining and you put your money to receive a certain amount based on the criteria they will lay unto you. In the past, I heard a lot of cloud mining but I never joined any because people say they are scams or like a HYIP which will eventually go dark after they collected a decent amount of money.

With that, I was convince that mining is only profitable if you are the one to operate it, if you don't have knowledge then better invest in bitcoin or altcoins as your own choice.

[bering]

In a time when the trend of cloud mining was no longer popular and there were so many bad reputations, I don't think we should invest in any similar service or system, it's almost a scam, although a few are probably reliable, I really don't know how long we will need to recover the capital and make a profit. Finding a profit in the cloud mining crisis would be unwise, buying bitcoin is probably simpler, even through bitcoin we have many other activities that can increase profits and all under our management, not worrying about scams

Since several years ago indeed cloud mining era has been ended and one of the caused is increasing large number of cloud mining scam and it's makes people avoiding them again and the trend was change currently that people are more likely want a simply way to buy bitcoin to get profit and it's more effective rather than buy some contracts at mining company and moreover lately it's very difficult to find legit mining companies who really pay their investors

[Ayiranorea]

By now mining in small scale isn't that effective and profiting at the moment. Rather than setting up a new mining farm it is always a good choice to buy bitcoin and hold. In between if one has got better learning about the trading analysis can use the same fund into trading practices. This will get regular earning compared to mining.

[mazdafunsun]

I consider cloud mining a scam practice.
The idea could be appealing at start but when you start thinking of fundamentals of this bussines, I quickly realized that it can not be profitable for their customers only for the cloud service.

The answer is it better to buy.

[DarkIT]

I consider cloud mining a scam practice.
The idea could be appealing at start but when you start thinking of fundamentals of this bussines, I quickly realized that it can not be profitable for their customers only for the cloud service.

The answer is it better to buy.

so far I have never gotten a big profit from cloud mining, besides, before I did, most cloud mining became a scam. between the two options, I would certainly prefer to buy bitcoin instantly, it's better than cloud mining because we can benefit from price recovery. in fact, at the moment I am aiming to add the bitcoin that I have in my wallet.

[Arsenyo]

I agree with you, buying bitcoin is more safe now. And I am sure that cloud mining no longer makes a profit. In 2015-2016 maybe, but not now. I never tried cloud mining thanks to all the negative things I heard about it. Practically everyone regret about investing in mining equipment.

[cutesgirl]

Mining project you need about $5k for buying and prepare for everything to pay electric fee, but if you use your $5k to buy or invest with some altcoin or ICO you just take rest in your bed and looking when price higher, with mining you have open your eyes always because no way if electric and internet die your mining is die.

[romero121]

Mining in the Cloud                                   Buying Bitcoin

Hard to find legitimate services.              More Legitimate services available.
More scams in the name of cloud.          Scams are easily identifiable.
Easy to invest than real way of mining.   Easy to buy and invest with trust.
No maintenance required after capital.   Need to be careful storing on wallets.
Highly complicated than real mining.       Simple process

[jmigdlc99]

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.
Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.
Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

You are right, luck is a huge factor in the equation.
The difficulty sometimes rise, sometimes drops; of course, overall it rises more than it drops. I didn't do the math, but I think that there's also a chance for profit. So instead of your max 0.8 BTC, there could be something like 0.5(?)-1.25(?) BTC range.
Your conclusion is, however, correct. It's not worth the risk. (And I'd not even insist on how many fake cloud mining companies are around, let's just keep the calculation on legit ones.)

I disagree with the luck part, no amount of luck will save you from cloud mining.

I don't know anyone who has ever made a decent profit from cloud mining. The problem is cloud mining contracts force you to buy coins at fixed rate without any protection at all. If you will have to count on difficulty and the promise of coin's value increasing then better to just buy the coin directly and wait for it's value to increase.

[meliodas]

It is better or even best to just simply buy bitcoin straight. Don't believe to the passive income or consistent income that the cloud mining offers because at least 3/4 of the cloud mining companies are fake and they are just pretending that they got some equipment for mining cryptocurrency but they don't, they are just scamming people and they will run or make a story that they're screwed and they can't do anything about it but to shutdown.

[Lizzylove1]

I rather buy bitcoin than getting involve in cloud mining that has no contract guarantee, cancelling contract and stealing money when the odds are high. Cloud mining is filled with scammers. Even reputable cloud miners can scam still.

[yoseph]

both have risks and costs that must be considered first, of course if you make a decision to invest is good for next time
mining isn't bad but you must prepare the device to be used so that nothing unexpected happens

It is actually not worth it one single bit, at the end of it all you will realize that you have wasted considerable amount of time and money all for nothing, most people don't really factor in that they are going to pay for the electricity use when it comes to cloud mining because though they mine at a profit, the power usage takes a huge chunk of the profits in the end.

[Xxmodded]

Mining less risk because very day you got payment from mining tools, but by buying bitcoin or altcoin just take one day to earn much profit depend which one altcoin we buy. With mining we have waiting more than one year for taking back our profit without have problem when our mining project tool. We have always pay many electric and internet access to get earn with mining.

[ropyu1978]

you can compare it after trying both methods, there must be calculations when mining, whether it can cover the costs incurred
certainly for trading can't be considered something simple, we must pay attention to many factors and the possibility of things happening

[cotton ball]

Mining less risk than buying altcoin because altcoin can lower price without can't prediction suddenly, many investor with buying coin lost much money because they can't manage when price of altcoin investment have down and lower, for mining we have got how many percent coin every day and could sell day by day without waiting first.

[reality18]

Cloud mining is very gaining more popularity now although not all the cloud mining apps out there are worth using. Some may eventually lead to waste of time which may last for a year or more without earning anything. The best and most simple to use cloudmining is the DIVI Desktop wallet masternode one-click cloud mining. Check out for more details on https://diviproject.org

[Bitcoin Seller]

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.
Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.
Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

You are right, luck is a huge factor in the equation.
The difficulty sometimes rise, sometimes drops; of course, overall it rises more than it drops. I didn't do the math, but I think that there's also a chance for profit. So instead of your max 0.8 BTC, there could be something like 0.5(?)-1.25(?) BTC range.
Your conclusion is, however, correct. It's not worth the risk. (And I'd not even insist on how many fake cloud mining companies are around, let's just keep the calculation on legit ones.)

I disagree with the luck part, no amount of luck will save you from cloud mining.

I don't know anyone who has ever made a decent profit from cloud mining. The problem is cloud mining contracts force you to buy coins at fixed rate without any protection at all. If you will have to count on difficulty and the promise of coin's value increasing then better to just buy the coin directly and wait for it's value to increase.

Cloud mining can be a great disappointment if you meet scammers (and there are too many of them on the market). This is the perfect decision to give your money to somebody and never get it back. It is the riskiest thing, although it seems to be attractive for the newbies, who are eager to get profits when investing almost nothing, just paying for cloud mining services. Better invest in crypto or use ASIC mining.

[randegibran]

What advantage of mining based on your mind? you want to get earning with bitcoin or altcoin from your mining tools every day? look ahead if you buy or invest your money in altcoin or bitcoin you can get much profit with short term, but mining you have waiting until back your money.

[cotton ball]

Buying bitcoin and altcoin more simple and easy than you have use your money for mining, buy investing with bitcoin or altcoin just waiting when price your assets is growing up and take just few weeks I think you get much profit and your money back, if you want to mining you have ready more than six months for get back your money if your mining tools running based on your plan.

[ReiMomo]

Buying bitcoin and altcoin more simple and easy than you have use your money for mining, buy investing with bitcoin or altcoin just waiting when price your assets is growing up and take just few weeks I think you get much profit and your money back, if you want to mining you have ready more than six months for get back your money if your mining tools running based on your plan.

Simply buying in bitcoin and cloud mining are having a hugely different, you can't purchase mining rigs at a small amount of your money.
Well, I prefer the mining cloud because of it that way you can be able to earn a big profit without spending money on it. Maybe all you need to buy is the equipment or tools being used to mining but I think you can only buy once and it good for the long term.

[Google+]

if you compare with cloud mining then I prefer to buy bitcoin because when i buy bitcoin assets i have a number of coins whereas if cloud mining then the funds are given to the cloud and when a scam occurs you will lose very much, whereas bitcoin will provide trading capital that can get a lot of net profit every day.

[EdvinZ]

You've done good research, I'm delighted. You are right, not only does cloud mining mean transferring your bitcoins to an unknown company that can be fraudulent, but also the profit turned out to be less than if you just bought Bitcoin and kept it in your cold storage wallet.

[yulionoo]

in my opinion it's better to buy bitcoin than follow cloud mining. most cloud mining companies now are scams so it is very risky if we join a cloud mining company that is a scam and also the operational costs of mining is very large. so I think it's more efficient to buy than mine. if we already buy bitcoin we can immediately use it to trade.

[SamboNZ]

mining in the cloud - more like joining a ponzi schem in the internet.
Buying bitcoin is easier compared to the stress you are going to get if you join this cloud mining ponzis.

[doomistake]

Most of the cloud mining site that are available now are just pure scam. They are just HYIP or some other ponzie scam. If you ask them to show some proof that they are actually mining something or their mining rigs, they won't be able to do so or they might just show you some fake mining farm. Most of them are fake because cloud mining is no longer profitable and the just are running a ponzie scheme in the name of mining.
I would rather suggest you to buy bitcoin and just hold it.

The funniest thing here is that they still have too many victims, people are easily get pranked when they start seeing the high mining rates, thought it was legit, after that they will invest their money out of their sanity on it hoping to mine even more per minute or per hour. You could instantly spot if a cloud mining site is legit is if their mining rates are not too good to be true, not like those over the chart mining rates that is so unbelievable true.

Trying to withdraw your funds in the first place and wait to receive it on your wallet could be also the other way to check if it was just some scam or not, if it is pending for days, then forget it, no doubt that is scam.

[randegibran]

I think cloud mining in general is not profitable.

Here are my calculations for Mining Cloud vs Buying Bitcoin.

All following calculations are done on annual basis.

All following calculations are done WITHOUT halvings and adjustments counted until you read later down.

Hash rate (total hash power of the world) close to 49 Mil. Th/S as of today May 17, 2019.

Every hour gives the world 6 blocks, multiply that by x 24h x 365 days= 52,560 blocks produced in the world in 1 year.

Currently there are 12.5 bitcoin mined per each block x 52,560 blocks= 657,000 bitcoin can be mined per year in the world if no adjustments and halvings happened.

49 mil. Th : 657,000= about 75 TH/s to mine 1 bitcoin as it stands now, before counting adjustments and halvings.

Let’s assume I bought 1 bitcoin today and paid about $7,200 (as of May 17, 2019) in a hope to sell it in 1 year at a higher price.

Now let’s see what would happen if instead of buying 1 bitcoin I invested the same amount of money in cloud mining.

Typical contract from a firm like Genesis Mining offers 1TH at a rate of about $60 all-inclusive per year (May 17, 2019), and that's including maintenance and other fees.

For $7,200 I can buy about  120TH for 1 year term of cloud mining.

120Th : 75Th per 1 bitcoin= that should give us 1.6 bitcoin over 1 year period of contract for the price of $7,200.
 
1.6 bitcoin is obviously more then 1 bitcoin which I can buy today, so cloud mining is better, right?

I think NOT, because remember we have not counted difficulty adjustments and halvings yet.

Now let’s do that, let's include them in the picture.

The next halving is in about 1 year,  so we don’t have to take it into our example as the contract will be over by the time of halving, so for now we just have to worry about difficulty adjustments.

But from historic data I never seen those adjustments less then 100% year over year and usually it’s even more.

So, in our example instead of 1.6 bitcoin, I am lucky if I get 0.8 bitcoin by the end of cloud mining contract.

Therefore, in my humble opinion, it’s safer to buy bitcoin rather then mine one in the cloud.

Would you disagree? And if I am wrong where the flaw in the logic and/or calculation?

I will explain simple way for you how mining can earn altcoin and bitcoin, you have ready buy mining tools and electric cost every month depend on what kind or your mining tools, other way you have ready good internet access for mining, if you buy altcoin you just buy and save your altcoin assets waiting when price and you can sell it.

[ufaiz50]

You're right, I agree with the calculation about making it half. In my opinion cloud mining is not profitable, but it depends on how we respond to this investment. If anyone is still confused about difficult adjusting of halving, maybe you should first try investing in mining to know this kind of calculation.