Which mining do you prefer? Cloud mining or Hardware Mining?

[bitgeek]

What contract is good? Considering the risk of operator running away, datacenter downtime etc. The problem is difficulty is not always predictable, huge difficulty can increase due to miners bring shipped. I went to search for various cloudmining plans, they are either unprofitable or untrustworthy.  The operator would just mine for themselves instead of selling shares if profitability is high. Trading isn't for everyone, the risk is high, you are more likely to lose money than getting profits if you are inexperienced.

I agree, there's always the risk of the company running away, that's why cryptocurrency has ben plagued by frequent scams. Last one that succeded was probably Lunamine in the cloud mining area, but there were even more among the hardware suppliers. Most recently we had AMT, and MAT, not to mention BFL. So cloud mining is probably as vunerable as hardware.

Question is: If you're interested in mining at all and willing to take the risk, should you buy shares or hardware?

In such case I'd buy shares. Why?
-you start mining immediately, don't have to wait 2 weeks or more for the miner to ship.
-you don't have to pay customs duty, usually a significant sum.
-no need to buy a PSU
-no problems with heat and noise
-you can relax while somebody else checks on your miner.

There are also some other marginal difficulties you face when mining at home, like your kids pulling the wires, losing money when you lose connection because the ISP or electric company had a maintenance, and some miners. e.g. the ones from KNC are known to to burn the cables.

There are many reasons why people offer shares instead of mining, one of them is that they get the money right away, if they mined, they'd be getting more in the end, but it would take 6 months or more.
And don't be fooled, most of them were and are mining for themselves. They usually have 100+ miners constantly online and if you buy a share you just direct the profit from one of these miners to your account, while the rest still mines for them, until someone buys another share

[mezmerizer9]

Cloud, because my pc is too weak and I don't have money to build a rig. So I've invested in cex.io.

[aronnov]

all depends on how good a computer you have, if you have a computer that is compatible to the hardware of mining, mining hardware then do it, but if not you can try cloud mining, both have advantages and disadvantages that can be tolerated, please choose ... 

[Mobius7]

It doesn't really matter to me.
What I care are the hashrate cost, the maintenance cost, and the reputation of the ASIC or cloud hashrate provider and predicted profitability in the end.

[ranochigo]

What contract is good? Considering the risk of operator running away, datacenter downtime etc. The problem is difficulty is not always predictable, huge difficulty can increase due to miners bring shipped. I went to search for various cloudmining plans, they are either unprofitable or untrustworthy.  The operator would just mine for themselves instead of selling shares if profitability is high. Trading isn't for everyone, the risk is high, you are more likely to lose money than getting profits if you are inexperienced.

I agree, there's always the risk of the company running away, that's why cryptocurrency has ben plagued by frequent scams. Last one that succeded was probably Lunamine in the cloud mining area, but there were even more among the hardware suppliers. Most recently we had AMT, and MAT, not to mention BFL. So cloud mining is probably as vunerable as hardware.

Question is: If you're interested in mining at all and willing to take the risk, should you buy shares or hardware?

In such case I'd buy shares. Why?
-you start mining immediately, don't have to wait 2 weeks or more for the miner to ship.
-you don't have to pay customs duty, usually a significant sum.
-no need to buy a PSU
-no problems with heat and noise
-you can relax while somebody else checks on your miner.

There are also some other marginal difficulties you face when mining at home, like your kids pulling the wires, losing money when you lose connection because the ISP or electric company had a maintenance, and some miners. e.g. the ones from KNC are known to to burn the cables.

There are many reasons why people offer shares instead of mining, one of them is that they get the money right away, if they mined, they'd be getting more in the end, but it would take 6 months or more.
And don't be fooled, most of them were and are mining for themselves. They usually have 100+ miners constantly online and if you buy a share you just direct the profit from one of these miners to your account, while the rest still mines for them, until someone buys another share

There's some reputable ASIC manufacturer out there, the incredibility high maintenance fees, 50%+ really make cloud mining unprofitable. If you really want to profit, you need to take more risk. You can always place the rig in your garage and place some fans. There are monitors available which can allow you to monitor the ASICs. Use a UPS backup if you are afraid your miners would go down due to electrical problems. Mining is most suited for those who have space in a datacenter and can host their ASIC there.

[mullerdan]

I recommend hardware mining even if its not economic !

[FeelTheBeat]

I recommend hardware mining even if its not economic !

Yes, me too. You can still use graphics cards for 4k gaming 

[_chance_]

I prefer hardware mining too. Atleast after it's over you can show your grand kids that souvenir. 

[vongol]

of course I'm prefer with hardware, but I'm also have some mining contract with cloud mining.
It's hard to get profit with mining this day

[tsm]

cloud mining is the only route now unless you have cheap electricity.

[Snorek]

I recommend hardware mining even if its not economic !

That is exactly the point. There is no profit to it unless you invest like MUCH in it.

cloud mining is the only route now unless you have cheap electricity.

And that is the only way.

If you are hipster and/or have a lot of money to spend and place to store and maintain your physical mining hardware go for it. For everyone else I recommend cloud mining. A less bothersome way to mine efficiently.

[aatrox]

Id prefer cloud mining since I wouldnt want to use my own electricity costs, unless I was in place that got a super dirt cheap or free.

[ahri]

With cloud mining you never know if the operator will run with your bitcoins.. so I`ll go with hardware.. if you can afford it.

[Snorek]

With cloud mining you never know if the operator will run with your bitcoins.. so I`ll go with hardware.. if you can afford it.

If you choose shady and suspicious cloud mining provider you will never know that. But there are some companies on the market which are foolproof. So if you invest in right place you can sleep peacefully.

[HeroCat]

Just check my signature - there you will find what you want 

[FeelTheBeat]

Just check my signature - there you will find what you want 

Just sayin, but your signature smells like ponzi 

[bitnanigans]

Well, for people like me, cloud mining does make sense. I live in an area where I don't have 24 hours of power supply and a barely reliable Internet connection. Clearly, I won't be able to run a miner reasonably well under these conditions. I imagine mining would be profitable if Bitcoin was at a better price point.

[tripppn]

I have cheap power so I really prefer to have the hardware in hand.  Plus this winter I don't think I'll be using the furnace much   

[cashmoney]

I have cheap power so I really prefer to have the hardware in hand.  Plus this winter I don't think I'll be using the furnace much   

Hardware is kinda good for starters though.

[dbshck]

I'd prefer cloud mining over hardware.
Cloud mining is far more simple than hardware mining, you don't have to wait for the miner to come, the set-up, electricity, maintenance, heat, etc.
Simply buy some shares, and receives your daily profit.