Worth it?

[Redawn]

Hi people,

20 GH/s 2 year contract for 260 USD, worth it?

[1715416827]

1715416827

[tsume90]

Hi people,

20 GH/s 2 year contract for 260 USD, worth it?

Jesus. God no that's not worth it. Mining contracts in general are major scams.
You're stuck with 20 GH/s. 2-3 months down the road and your 20GH/s is now worthless and you haven't even scratched the ROI.
This is the case with all mining contracts. You have to scale up with the difficulty, otherwise it's wasted effort and money.

TL:DR
No, it's not.

[Redawn]

Ok thanks, I know that, but why the hell people are buying this crap

[tsume90]

Ok thanks, I know that, but why the hell people are buying this crap

People hope that if they throw enough money at mining equipment, it'll get a return eventually.

[Entropy-uc]

Like any investment scam, the sellers depend upon the appearance that the 'herd' is buying.

Just like a casino loading it's table with shills who are just playing hands to make it appear like losing money is a fun way to spend your time.

The gold rush is ending, and the flood of fools being parted with their money is drying up all over.  If Bitcoin continues grinding down many of these cloud operations will fold their tents and walk away, just like mining-bond scammers did before them.  And they will be quickly followed by hardware sellers walking away with pre-order money.  Watch out for great deals on delivery in '2 weeks'.

[ChuckBuck]

$260 for 20 GH/s is not a good deal at all.  You're better off doubling that amount and getting an Antminer S1, but even that won't ROI with the recent price dip.

At this point and price, just buy coins and hold, it's the safest investment.

[tsume90]

Bitcoins are slowly turning into a field where it'll be so difficult to mine coins, no amount of hardware will be able to keep up.
So like it was just said, companies will be folding their tents and closing shop.

Then all that'll be left is the REAL reason bitcoins were created. For the sole purpose of spending money online anonymously.
You won't be able to mine them for profit anymore. I can't wait for that day to arrive.

The day of shitty "hardware sellers" making a profit off ignorance is coming to an end.

[ChuckBuck]

Bitcoins are slowly turning into a field where it'll be so difficult to mine coins, no amount of hardware will be able to keep up.
So like it was just said, companies will be folding their tents and closing shop.

Then all that'll be left is the REAL reason bitcoins were created. For the sole purpose of spending money online anonymously.
You won't be able to mine them for profit anymore. I can't wait for that day to arrive.

The day of shitty "hardware sellers" making a profit off ignorance is coming to an end.

Without mining, there is no Bitcoin.  As long as Bitcoin exists, there will be miners for profit and to support the network, as well as confirm transactions on the Blockchain.

What you probably meant to say, is the era of the home or hobby miner will end soon.

[superresistant]

Mining is obsolete and will eventually disappear.

Only Proof-of-Stake will survive.

Mining is still alive because people find it fun to lose money.

[tsume90]

Bitcoins are slowly turning into a field where it'll be so difficult to mine coins, no amount of hardware will be able to keep up.
So like it was just said, companies will be folding their tents and closing shop.

Then all that'll be left is the REAL reason bitcoins were created. For the sole purpose of spending money online anonymously.
You won't be able to mine them for profit anymore. I can't wait for that day to arrive.

The day of shitty "hardware sellers" making a profit off ignorance is coming to an end.

Without mining, there is no Bitcoin.  As long as Bitcoin exists, there will be miners for profit and to support the network, as well as confirm transactions on the Blockchain.

What you probably meant to say, is the era of the home or hobby miner will end soon.

No, I said what I meant and meant what I said. Doesn't matter what the cap is, or rather or not people/companies "think" they can make a profit off mining. Doesn't even matter if you simply want to "support" the network. When the difficulty gets to a point where mining costs way more then you could ever gain profit from. People will stop throwing money at it. Electricity isn't free, and hardware will only keep getting more expensive as the difficulty rises.

Higher diff => more powerful hardware => higher prices => higher electricity bills.

No one is going to risk their lively hood by mining under those conditions. Business or not.

I don't expect that to be relevant for at least another 2-3 decades, if that long.

[ChuckBuck]

Bitcoins are slowly turning into a field where it'll be so difficult to mine coins, no amount of hardware will be able to keep up.
So like it was just said, companies will be folding their tents and closing shop.

Then all that'll be left is the REAL reason bitcoins were created. For the sole purpose of spending money online anonymously.
You won't be able to mine them for profit anymore. I can't wait for that day to arrive.

The day of shitty "hardware sellers" making a profit off ignorance is coming to an end.

Without mining, there is no Bitcoin.  As long as Bitcoin exists, there will be miners for profit and to support the network, as well as confirm transactions on the Blockchain.

What you probably meant to say, is the era of the home or hobby miner will end soon.

No, I said what I meant and meant what I said. Doesn't matter what the cap is, or rather or not people/companies "think" they can make a profit off mining. Doesn't even matter if you simply want to "support" the network. When the difficulty gets to a point where mining costs way more then you could ever gain profit from. People will stop throwing money at it. Electricity isn't free, and hardware will only keep getting more expensive as the difficulty rises.

Higher diff => more powerful hardware => higher prices => higher electricity bills.

No one is going to risk their lively hood by mining under those conditions. Business or not.

All this means it'll eliminate the little guys.  If there's a way to make money off something, big time miners will find a way:

https://www.youtube.com/watch?v=5CjldZLXiAU

[tsume90]

Bitcoins are slowly turning into a field where it'll be so difficult to mine coins, no amount of hardware will be able to keep up.
So like it was just said, companies will be folding their tents and closing shop.

Then all that'll be left is the REAL reason bitcoins were created. For the sole purpose of spending money online anonymously.
You won't be able to mine them for profit anymore. I can't wait for that day to arrive.

The day of shitty "hardware sellers" making a profit off ignorance is coming to an end.

Without mining, there is no Bitcoin.  As long as Bitcoin exists, there will be miners for profit and to support the network, as well as confirm transactions on the Blockchain.

What you probably meant to say, is the era of the home or hobby miner will end soon.

No, I said what I meant and meant what I said. Doesn't matter what the cap is, or rather or not people/companies "think" they can make a profit off mining. Doesn't even matter if you simply want to "support" the network. When the difficulty gets to a point where mining costs way more then you could ever gain profit from. People will stop throwing money at it. Electricity isn't free, and hardware will only keep getting more expensive as the difficulty rises.

Higher diff => more powerful hardware => higher prices => higher electricity bills.

No one is going to risk their lively hood by mining under those conditions. Business or not.

All this means it'll eliminate the little guys.  If there's a way to make money off something, big time miners will find a way:

https://www.youtube.com/watch?v=5CjldZLXiAU

That's the point......
There won't be a way to make money from it.

Unless asic technology takes a major leap beyond what AMD, Nvidia and Intel are doing. Then eventually a wall will be hit.

[sudoku]

Hi people,

20 GH/s 2 year contract for 260 USD, worth it?

Anything above $4 / GH is not worth it.

[toxique]

Of course it doesn't worth it! as said no amount of hardware will be able to keep up.

[BigBrother]

Of course it doesn't worth it! as said no amount of hardware will be able to keep up.

Agree and also it's dangerous as usually such contacts are scams

[jeppe]

Not worth it at all buy an antminer s1 !!

[Lamber]

its not worth it offcorse.