Quote from: ZeeeN on March 14, 2020, 07:18:48 PM

Quote from: Akiiiil on March 14, 2020, 09:10:02 AM

Quote from: adaseb on March 14, 2020, 04:52:22 AM

Its only worth it if you know for certain that in the near future the price of bitcoin and altcoins will be much higher than it is today. However in that case you can just buy the coins directly.

However with cloud mining you need to understand the terms. Usually when mining goes below a profitable mining point, the contract will be void. So most likely after what just happened recently, unless the price rebounds and stays above maybe $8000 or so, then the contract will be voided and you won't get any mining profits anymore. Just doesn't make sense to cloud mine. Either buy the hardware and mine yourself or just buy the coins.

Thanks a lot! I also don't see any advantage of cloud mining...
I guess buying coin directly is better if I believe the price will rise...
So why cloud mining platform like Genisis Mining can still exist? Who will buy the service?

when BTC price higher more than 10K USD you calculate it will show you have profit soon.

customer think wow we only invest in cloud mining and wait for profit no need to worry anything.

but in real life it not like that.

if you want to mining you can try with some gpu if it not going well you can sell it to gamer.

yep, i guess in real life we should consider the electricity fee, the price fluctuation even the mining gigs upgrade(which influence the hashrate)?

Akiiiil

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