Re: [ANN] Cloud bitcoin mining with no minimal withdrawal amount [Official Thread]
Not only is the price of the bitcoins increasing, but also the complexity of their mining. It is much safer to invest in bitcoin, it will still grow in value in the near future. I have contracts in cloud services, for today they are all unprofitable.
Can't fully agree with you.
Let's imagine the future: you invest now 6k$ in 1 BTC and hold that till it's become worth 100k$, lets imagine that in 1 year period, what means after 1 year you will have the same 1 BTC.
And another option: you invest the same amount of money in mining powers, so in 1 year period your 1 BTC will turn into 1,2 BTC (120k$).
That is specious.
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you invest now 6k$ in 1 BTC and hold that till it's become worth 100k$, lets imagine that in 1 year period, what means after 1 year you will have the same 1 BTC.
You will have invested dollars originally so you calculate your profit in dollars, which would be $94k, ROI of 1566%.
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you invest the same amount of money in mining powers
You are not "investing in mining powers", you are paying 1 BTC 'rent' in exchange for hash proceeds. so at the end of the contract your original 1BTC is gone, all you have left are the accumulated payouts.
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so in 1 year period your 1 BTC will turn into 1,2 BTC (120k$)
No-one knows what eye watering difficulty there would be if BTC went to $100k, or the cost of profitable mining equipment, so how can you possibly say this? Where do you get these figures from? Show your calculations.
Your ROI calculator is misleading and meaningless in its headline numbers, because of the all important electricity cost (hidden in small font). Why do you default it to a Bitcoin price of $11,516??
This is the real situation as it stands
Fwiw, I have some sympathy for small miners in the current circumstances, but misleading potential investors is wrong.
No-one knows what the future will bring, including you.