i have 400$, i cannot buy a good miner, is cloud mining a good idea in this case

[philipma1957]

my question up  , but lets just say <h1>pls response to this question</h1>

Most cloud mining websites are scam. So my suggestion is to stay away from those, else you can easily end up with the money taken and nothing mined at all.

You are talking about most cloud mining websites are scam. So, there are websites that provide cloud mining without being a scam? Can you name those that have proven themselves well and can be trusted?  Or should all cloud mining websites be treated with suspicion and caution?

no every single cloud mining site has the we can fuck you any time we want clause.

so even if they are honest. business practice will dictate cancel contract if mining totally sucks.

and or cancel the contract if mining explodes and whales.

so once again if you buy a contract it can make a few bucks if both difficulty and price move in such a range that your profits always exsist but do not go really high.

it is no more complex than this .

A huge gains = cancel
B any loss = cancel
C small profits = you make some money if they are honest.

[Artemis3]

Cloud mining is never a good idea. Buy bitcoin, or something from GekkoScience

Actually you should be able to get an old S9 if your electricity is cheap enough.

[Uang_kartal]

  I am familiar with cloud mining. It was in 2017. I made no deposit for cloud mining, starting with Bitcoin/altcoin rewards, usd, pound, ruble and so on. almost all scams in a matter of days and do not pay. sad. at that time it was very popular, even though on the web it was promised with a hashrate that varied every hour. days and months and even years. really tempting. including the free one without a deposit, it feels very slow even though if you are lucky you might be able to deposit/buy the features offered. It was the Hyip era and it was like mining for an unreasonable profit

  the rest, what other users above are talking about bitdeer and antminer, I don't have the money to buy them and don't know what it's like to mine with those tools.

  In conclusion, as long as I know cloud mining, I can't get any profit.
really (OP) which cloud mining would you like to try?

[JayTrain]

my question up  , but lets just say <h1>pls response to this question</h1>

I will support all of the above, cloud mining is most often not exactly the way you imagine it, most often fraud, I have not met cloud mining, which is really transparent and brings income to its miners.

[Equality BAE]

Cloud mining is completely fraudulent because there is no system that can generate such high income with the money we give, instead, very high earnings can be obtained in the staking event of unknown cryptocurrencies. If you are going to staking, you should know the project well and trust that project, so that you can gain big profits both when it increases and with the stake you make. This process is definitely more reliable than cloud mining if you ask me.

[tintingp]

Mining projects are mostly scams. So I advise you to stay away from these, you can do small trading of it and make some money from it.
However, you must have experience in trading. Because if you don't know it properly then you are likely to lose all your money,

[saftdo20]

A tough one, I would say no, at 400, if you are looking for stable returns I would start by finding some single sided staking options!

[Dread Pirate Roberts]

i have done it in nicehash . and the result is the same as buying bitcoin directly on the market even i lost more money. In the past, I usually used cloud mining for rent hah power to mining new coin mining, which still having high blocks reward and low difficulty. and for fun purposes only. the point is cloud mining is not worth it. and if you still want to try and do it. be careful! real cloud mining is like you rent someone else's miner. not like an MLM investment or money game. many people still fall for the Ponzi system that claims to be cloud mining.

[WhyFhy]

you could use miningrigrentals.com (pm me for ref if you want)
I'm kind of shocked it hasnt been mentioned before a service such as nicehash or bitdeer?
the next best thing is to get a graphics card for around $400 and get your foot in the door that way.

[LolliMoon_]

my question up  , but lets just say <h1>pls response to this question</h1>

This is a possibility. However, you should check the legitimacy of the operator beforehand. Do not calculate in USD but in the cryptocurrency you want to invest in.

[savetheFORUM]

i have done it in nicehash . and the result is the same as buying bitcoin directly on the market even i lost more money. In the past, I usually used cloud mining for rent hah power to mining new coin mining, which still having high blocks reward and low difficulty. and for fun purposes only. the point is cloud mining is not worth it. and if you still want to try and do it. be careful! real cloud mining is like you rent someone else's miner. not like an MLM investment or money game. many people still fall for the Ponzi system that claims to be cloud mining.

We'd better go for buying bitcoins if the result is still the same as when we cloud/mine because the goodness of buying a btc is it is on the go, you can do it anytime, anywhere with no commitments. You are also holding the btc that you bought so it is more safer unlike to cloud mining where you deposit btc in the platform but nicehash might be a legit cloud mining since it is always been recommended by the users.

The only problem is like you said can be the potential earning that we can get is small and doesn't meet our expectations. If its purpose is for fun only, I don't think someone can enjoy the process of waiting. I mean you are not doing the actual thing (mining).

[honeyminingcheng]

my question up  , but lets just say <h1>pls response to this question</h1>

Cloud mining is a scam, almost all! Don't believe it! , it is better to buy bitcoin directly! As for what machine you recommend to buy, it depends on the electricity cost of your mine.

[chichidori]

Recommendation is not to do cloud mining and instead save up additional funds in order to buy a good miner.

[Grantrocks]

Dont ever use a cloud mining site unless its verified by lots of people. The "free" ones scam you and take your crypto.

[Beerwizzard]

Kucoin recently sold another round of their mining contracts. I have calculated that buying a contract and hodling mined BTC for all 220 days would get the same revenue just as if you bought BTC for roughly 36k$. Right now it seems like a good deal but it was not so clear when people bought contracts while BTC was  at 40k$.

Generally, if you find a legit service provider then you may try it. If BTC goes up then  you are cool.

[Coinfarm ventures]

Can't you just buy a Goldshell LB-BOX ASIC miner? They only use 150w and they're very quiet. I bought mine for $350 or so 2 weeks ago.

[Beerwizzard]

Can't you just buy a Goldshell LB-BOX ASIC miner? They only use 150w and they're very quiet. I bought mine for $350 or so 2 weeks ago.

So how is it going? How much time would it take to pay off 350$?

I've checked this cheap miner via mining calculator and with 0.06$ per wt it shows that you would lose 2 cents daily only for running it. Pretty sure it is hard to find cheaper electricity so unless you are stealing it (or running a solar panel). SO right now it seems like a waste of 350$ and further losses. it is better just to buy BTC.

[Coinfarm ventures]

So how is it going? How much time would it take to pay off 350$?

You're right, it hasn't been going very well. Right now the daily profit is $0.50 for me, meaning the payback time is 700 days. Profit dipped to near zero many times this month. Bad decision. I just bought a bunch of Antminer L3+'s for $600 each, and the payback time on those is 350-400 days. Well, the Goldshell was my first ASIC miner, so good thing I only paid $350 for it.

[WhyFhy]

op could look into helium mining gear , $450-700 equipment cost , 1k for a nice setup
5~ watts a day
depending how its set up can make up to $5-$10 a day realistically looking at $2-$5 a day though with a easy setup.
go for a bobcat

[24Kt]

Dont ever use a cloud mining site unless its verified by lots of people. The "free" ones scam you and take your crypto.

Even verified or legit cloud mining sites won't give you the best profit. And hardly, you will get the ROI of your money. This is why, even legends here are not advising to invest on a cloud mining site. Better buy your own equipment. At least, if you are not earning anymore from that equipment, you still have the hardware that you can use for other purposes or something to sell. But with cloud mining, once they stop paying you, hard to run after them. Your money is considered lost.