Quote from: ^BuTcH^ on July 06, 2019, 01:55:19 PM

Quote from: Slow death on July 05, 2019, 08:41:43 PM

Why Evgeny Gurvich has a different name here:

Lol, it is kind of name variation, like Thomas- Tom- Tommy.

By the way, what does cloud mining mean in general? I still can't get what I have pay for and how would they use my money.
What is more important, I can't get how profit appears and what is average ROI, how stable it is and so on.

Dear ^BuTcH^,

Let us explain to you:

Cloud mining allows the use of computing power for data processing centers and mining cryptocurrency without the need of buying special equipment, software, spending on electricity and so on.
The main idea of cloud mining for Bitcoin which is also called cloud hashing is that the user buys some computer power of the machinery set up in such data centers after agreeing on a cloud mining contract and do mining via cloud.

Cryptocurrency cloud mining has many advantages for those who are not so technically skilled and are not ready to compile the equipment and set the special software. Besides that, this is a great opportunity for people living in countries with a too high cost for electricity to set up their own mining farms.

Af for profit you may have a look at the average calculation of a contract profitability based on current mining difficulty and BTC price on July 08, 2019:

✔️Example: 365 days contract, 1 TH, price 39 USD

Based on the information, provided on BTC.com, 0,00003169 BTC is the mining earning of 1 TH per day, which is 0,37 USD (with exchange rate = 11850 USD for 1 BTC). The daily service fee is 0,13 USD, so the daily profit can be estimated as 0,24 USD. The revenue you receive is around 87.6 USD, where your net profit is estimated as 48.6 USD.
If Bitcoin exchange rate grows the profit will be even better.