Post
Topic
Board Mining speculation
Re: Is Bitcoin Cloud Mining ????
by
DrG
on 01/08/2014, 06:10:16 UTC
Cloud mining is not profitable.  If it seems like it is, the company will disappear with everybody's money after 6 months and there's nothing you can do.  After all why would somebody go through all the work of setting up miners, a website, and company so they call sell you profit?

Miners don't cost 100-200k in USD. You can buy small ones for as low as $50.  The large companies do have a benefit when buying millions though.

any miner u suggest that i can make profit??

The Antminer S3 is what everybody says is priced low enough that you might be able to make a profit.  You need to buy 2 at once and they're 0.64BTC right now, so out of your budget. You can buy part of one in a group deal but that can be risky.

I would suggest just waiting for a little dip in BTC price and buy as much BTC as you can with the $70.