CLOUD MINING

Anyone ever tried the cloud mining?
Is it good for beginners? Since you can do that with no hardware and no knowledge.
I know it's less profitable but... what's your point of view?

If you mine on someone's equipment it's always a loss for you (at least short term, if the price goes up, maybe it'll be worth in the end).

But just think about it, if someone has perfectly good mining equipment, why would they let you use it for less than what they can mine for themselves?

paraztos said:

But just think about it, if someone has perfectly good mining equipment, why would they let you use it for less than what they can mine for themselves?

Click to expand...

I've asked this in the past.

What they always tell me is the mining companies need cash flow. Otherwise they need to sell coins to pay bills, so they sell some mining power instead.

dadecotti said:

Anyone ever tried the cloud mining?
Is it good for beginners? Since you can do that with no hardware and no knowledge.
I know it's less profitable but... what's your point of view?

Click to expand...

Yes it worked 2+ years ago. It doesn't work anymore and you will lose all your money. Stay away I warned you.

Mining is unpredictable. The difficulty and rewards change from one month to another. It's hard to get your investment back.

Just a quick question about http://www.holdhash.com, I have recently created an account with the link and they mine Tron, Bitcoin, Litecoin, and Dogecoin. When you sign up you automatically get 200 GH which you need for mining and when I started, I put everything into Bitcoin. I checked it 3 days in a row and all was good so I have just been letting it "mine" Bitcoin for a bit. I just checked in on it and the GH had 357, I did not buy anymore (I have gotten so screwed on Bitcoin, I am broke worse than a joke) but GH was spread among Tron, Bitcoin, and Dogecoin. I did NOT do that and am questioning it now, seems everything with Bitcoin is just a f*cking scam. Does anybody know anything at all about that website or if I am wasting my time even trying? Thank you for reading and I look forward to reading your responses!

You are ALWAYS wasting you time and money letting someone else do something that you should do.

Do you even ask your return? How much did you invest? WHAT WAS YOUR ROI (return on investment - break even point)

You are a beginner so visit https://u1lib.org/.

Join it and the download your first 10 books on "crypto". Then tomorrow do
10 more. The next day 10 more.

Then READ THESE BOOKS! You will know more than 99.97% of the population.

Etherium mining WILL STOP in June when "The Merge" happens. No one knows how that will affect the "market".
Will people freak out? Will people dump all their coins? The miners will just change to another coin, but with their network
hash rates increasing the profits go down. What will happen? No one knows.

https://whattomine.com/
Maybe you should try "yield farming"

https://www.wsodownloads.in/mr-xs-million-dollar-yield-farm/
Or just visit Star Atlas and buy a few Star Ships and stake them. The return is 100% APR and when the game finally starts
you can fly around and shoot people or just mine asteroids for crypto profit.

Sincerely,

The Eye

Interesting topic guys - ultimately mining ROI will be predominantly determined by your ongoing electricity costs. If you able to access cheap electricity, you will be able to fatten your margins. Eth is still good to be mined until it rolls out 2.0 and transitions to PoS.

Tapping into crypto mining can be a high barrier to entry due
1) High initial capital investment - GPUs (entry-level) are about a couple of K and you have your ASICS sitting at 15K ish
2) Electricity costs - will eat into your margins
3) Noise pollution and legalities

For those looking to get their feet wet in the field of mining should consider the NFT below. They currently have:

-a hydroplant to power their mining rig off the grid (first crypto operation operated by green energy in SE Asia)
- this gives access to electricity at $0.02kwh
-they have been doing remote mining for quite a few years now and are releasing the NFT project to get a direct injection of funds to acquire a second hydroplant and facilitate more ASIC miners. (just as someone mentioned before)
-for the more serious miners, you can ship your miner over to their rig and they will house it for you as you take advantage of cheap electricity - just need to buy the internal utilty token watts to use this service or alternatively own one of their NFTs.

Their mint is on Jan 22, so a couple of days from now (whitelist sale before public sale in Feb at a higher mint price

Hope that helps - for those interested - there is a link below. Welcome to shoot some questions in there.


https://discord.gg/tGCbsY6bNB