There is no way this would work for more than a handful of people. The daily costs are too high.
Yeah right, the daily costs are too high!
I mined 5 000 000 dogecoins in day one using 400khash cloud servers and paid $30. After 1,5 month my stock is worth $6 5000
If you are investing $10 for 1 hour of mining crapcoins with 1 mhash/s then obviously you are doing it wrong
If you are smart enough then you can mine coins which have the greatest chances of success. Just subscribe to https://bitcointalk.org/index.php?board=159.0 (Announcements-Altcoins) and follow coins with the highest number of posts in the dedicated thread. No magic - simple as that