Digital X Mintsy from Cryptsy - I must be missing something

[kilo17]

I am not big on cloud mining but signed up for the Beta release a few months back.  I got the invitation and logged on today to check it out.  I think it makes renting hash and buying cloud mining service easy to navigate and purchase.  What really caught my attention was the prices on the Cloud mining Contracts-

I am not sure if I am missing something but it seems to be impossible to make any profit with the contracts.  1 Th is $549 for 3 months and includes all fees.  If my calculations are correct it would generate about $288 of bitcoin in 3 month at a cost of $549....I believe BTC would need to be above $600 to even break even.

Are my calculations correct or is that just a horrible deal.

Cheers....

[1714816446]

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[1714816446]

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[1714816446]

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[ellave]

Same as you, just created an account looked at the contracts &   .  Crazy pricing, maybe you get some free rocking horse shit with every purchase??

[freedomno1]

Are my calculations correct or is that just a horrible deal.

Cheers....

That there is the beauty of cloud mining and nope your calculations are entirely correct
It's been that way for a while, the only way you would make money is if there was an appreciating price for Bitcoins
But then why wouldn't you just buy the Bitcoins at market price now and make the larger profit.

[jorgelugra]

3 months is nothing if you check zeushash or some or the cloud mining services that are paying right now on cmmonitor

[cloh76]

I just asked the same question on their [Official] thread... lets see what they say.

For now Im invested in Hashnest and Genesis Mining since those contracts are unlimited (or unlimited until the cost outweighs the earning)