Post
Topic
Board Service Discussion
Re: Advice for new users regarding CLOUD MINING
by
Borisz
on 02/10/2014, 13:23:09 UTC
I think if you are a miner, you won't shut down your gear just because at the moment the BTC price is too low and it doesn't make economical sense. What if tomorrow it shoots up to 600$? then you will regret you didn't mine more.
With cloud services this might be different, but I don't think a single person shouldn't judge its mining profitability based on 24hour price of BTC.

There is a controversial argument on the forums in general:
1. Hold bitcoin because its price will go up, don't use it, just buy it and HOOOOOLD
2. It doesn't make sense to mine because I only make 10$ and my electricity costs 11$ NOW

Am I the only one who doesn't get this?

Regarding cloud services I red a comment at some other site saying
"CEX.io doesn't actually need to have any sort of mining equipment. Since the price of 1 GH/s is much more than it will EVER earn for you, when you buy a GH/s they will simply pay back part of it to you as "mining"."
Made me think....