Quote from: adaseb on October 25, 2021, 03:23:20 PM

Yeah Cloud Mining was the worst.

Yep! 90.12345% SCAM....LMAO

Quote from: very_452001 on October 25, 2021, 09:32:39 PM

...... Bitcoin is $60k now so mining profits hash rate should easily cover cloud mining costs nowadays correct?

Not that simple, as I mentioned above:

Quote from: jillscarbrough on October 25, 2021, 07:49:35 AM

...... Let's say you got the coin to mine at low mining cost, has a pretty good price, but tons of miners mine the same coin as you.

Check this graph!

Bitcoin Network Hashrate VS. Price:

Source: https://stats.buybitcoinworldwide.com/hashrate-vs-price/

Network Difficulty:

Source: https://www.blockchain.com/charts/difficulty

Let's make some simple illustrations! (Actual calculations aren't like this) - To make it easy, let's use simple numbers, ignore diff!

Yesterday Bitcoin price: $10
Yesterday Bitcoin Network Hashrate: 10 Th/s
There're 10 miners, you have 1 Th/s, and the rest also have the same as yours.

Today Bitcoin price: $50
(With Bitcoin's price increasing to $50, more miners join)
Today Bitcoin Network Hashrate: 50 Th/s
There're 50 miners, you have 1 Th/s, and the rest also have the same as yours.

Let's calculate your chance!
Yesterday: 1/10 * $10: $1
Today: 1/50 * $50: $1

See?

Unless this "cloud mining" has tons of hash power and does solo mining. They "might have" a better chance!