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Bitcoin Forum > Bitcoin > Mining > Mining speculation > Can anyone show me calculation how cloud mining can be profitable?
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Author Topic: Can anyone show me calculation how cloud mining can be profitable?  (Read 2307 times)
precrime3
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April 10, 2014, 07:23:03 PM
 #21
Quote from: Shogen on April 10, 2014, 07:20:31 PM
Quote from: crazyivan on April 08, 2014, 06:41:48 AM
Ok, have been following these cloud mining threads advertising different cloud mining services. Could anyone pls show me some kind of calculation how this can be profitable and how can I get my ROI back?
Whenever I use available calculators I end up paying 7 BTC for 1 TB which gets me back 6 BTC in a year assuming 40% difficulty increase per month, which is an overage over the last few months. I am prepared only to pay for the service in BTC, any kind of fiat payments are not acceptable ATM.

So, what am I missing here, why is math faulty?

Your calculation is right.
Why would they sell the hashrate if they can get more by mining themselves?  Wink

Maybe they could sell it for a higher profit?

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April 13, 2014, 09:10:00 PM
 #22
Still have not seen any answer convincing me a profit can be made by using cloud mining.....
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April 13, 2014, 09:16:18 PM
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i think you have your answer.. there's no cloud mining at a price that shows a reasonable likelyhood of profit.
<<<   "MY DOG ATE YOUR BITCOIN"..mtGox - - "MY DOG IS EATING YOUR BITCOIN"...Antpool - - "We were drinking espresso with shots of vodka at this little cafe. My laptop was on the table. This big dog came up behind us and,.. and..." ...nicehash     ANTMINER is currently servicing 20-30% of the entire network hash rate. Enenatis. Quis interdum ac, aliquet nec est. www.bitmaintech.com Euismod risus sed, venenatis tellus. Aliquam vel. Spontaneous emission is not inherent to an emitter, but rather depends on its electromagnetic environment.        "THE DOG ATE YOUR BITCOIN"..mtGox
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April 14, 2014, 02:52:12 AM
 #24
Quote from: oztusk on April 13, 2014, 09:16:18 PM
i think you have your answer.. there's no cloud mining at a price that shows a reasonable likelyhood of profit.

Correction: No mining at a price that shows a reasonable likely hood of profitability Tongue

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April 16, 2014, 08:02:21 AM
 #25
Quote from: CryptoNames on April 14, 2014, 08:21:41 PM
Quote from: crazyivan on April 13, 2014, 09:10:00 PM
Still have not seen any answer convincing me a profit can be made by using cloud mining.....

+1 Wondering who is the clientele buying all the contracts then? There seems to be a lot of places selling them.

Yes, EXACTLY. This is why I am so surprised. With a bit of 2nd grade math you can figure out this is NOT profitable. Still, bunch of people buy these services every day and there are tons of these websites around. WTF?
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April 16, 2014, 12:22:50 PM
 #26
Quote from: crazyivan on April 16, 2014, 08:02:21 AM
Quote from: CryptoNames on April 14, 2014, 08:21:41 PM
Quote from: crazyivan on April 13, 2014, 09:10:00 PM
Still have not seen any answer convincing me a profit can be made by using cloud mining.....

+1 Wondering who is the clientele buying all the contracts then? There seems to be a lot of places selling them.

Yes, EXACTLY. This is why I am so surprised. With a bit of 2nd grade math you can figure out this is NOT profitable. Still, bunch of people buy these services every day and there are tons of these websites around. WTF?

Its that they're only less slightly cost effective than antminers (pbmining is at least) and you don't have to put up with hosting, electricity, heat, noise, then liquidating when it has gone by its effective life span.

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April 30, 2014, 07:48:49 AM
 #27
Still waiting for some profitable cloud mining suggestion, not possible there is nothing online. Anyone?
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