What do you guys think of these guys?
https://www.cloudhashing.comOffering 10Ghs starting in September. Is it in any way a good idea to jump on board? They claim a return of 50BTC for essentially 10BTC (to keep it easy) ... though if you pump the figures into coinish calc, it tells you tou will make about 2BTC profit over two years on its default mode. If you put in difficulty increases of 15% then its never.
Still... i'm tempted. Certainly not going to get an asic any time soon. Thoughts?
Someone talk me out of it. :-)
Don't do it!
Even if it started now, with the next difficulty estimate at 18.3 million, you'd only make 0.2748 a day from it. That is six months to get 50 BTC if the difficulty never goes up and it definitely will. I feel like they are seriously misleading you by making a prediction of 50 BTC. I wouldn't buy from them because of that alone.
In September the difficulty will probably be around 50 million and you'll make only about 0.1 bitcoin a day. You'll probably never make your investment back.
You are making an assumption that Bitcoin's value won't change in that time. There is a lot going on in the financial world right now, I think we're on the verge of a new push. Let's say Bitcoin is worth $500 or more each in 6 months, even making a shaving of a Bitcoin can still be worth serious money.
The miners ultimately set the price of Bitcoin, which only goes up the harder it gets to mine. The currently upward swing will look like nothing soon I agree. More power usage, more time, = more BTC value.
Yes there some large "ifs" there, but don't forget as difficulty goes up, the value of Bitcoin will as well. If all gold were on the surface it wouldn't be worth much, but since we have to dig further and further to get at it using more time and energy, it costs most for the miners, therefor costs more to buy as an investor. Bitcoin follows the mining analogy to a T.