cloudhashing is expensive. people only use it to speculate that if they can has a new crap coin, the new coin will tripple in price later .. just so people can break even..
most of the time it does not work out that way, so be careful guys
Yeah, but couldn't they just simply buy the coin then instead of putting in a lot of money and effort to mine it?
when a coin is released, it is mined first and then slowly gets added to exchanges later. so people mine it hoping that by the time its added to an exchange, the value to sell is stupidly high..
but in the high majority of cases people lose out.
altcoin premining and cloud hashing is not for 'consumer' / average joe to profit from. its for the mining host and coin creator to get rich on. but consumers endlessly keep shooting themselves in the foot hoping to one day get that big fat payday..
imagine it like the game bingo or lotto. your granny goes every week and spends $10 in the hope to win the $200 prize.. in the last 2 years she has not won (spending over $1000 on tickets) but that one time she does win she wants to tell the world she has had a big pay day.. but doesnt realise she has spent $1000 just to get $200..
yet every day thousands of people in each town of each countryplay bingo or lotto hoping for that one time win
