Is cloud mining profitable reddit

Is cloud mining profitable reddit. Let's take a look at the most commonly-available types of cloud mining: Hosted Mining: This model involves renting physical mining rigs owned and operated by a cloud mining company. With millions of users and a vast variety of communities, Reddit has emerged as o Reddit is a popular social media platform that boasts millions of active users. Sep 2, 2024 · 2. I suggest you try renting hash-power at NiceHash and see how much you can earn. That said, cloud mining is rarely profitable. After electricity and maintenance costs, you’ll be lucky to break even. The higher asset prices rise, the more profitable mining becomes and the less efficient miners need to be to Just type in cloud mining in the search bar to read stories from hundreds of people who have lost much of their initial investment by the end of their cloud mining contracts. The price of the cryptocurrency is high. All profit you make is actually yours, all losses are 'free'. F@H for GPU is definitely more profitable depending on your hardware. But, the concepts surrounding the activities are reasonably straightforward, as is the proce Open cast mining is a type of surface mining in which mineral resources are removed from the earth through large holes or pits dug into the surface. While maybe not a direct scam but the company will always win, you may not. Use a mining calculator. They operate cloud mining services because you will pay in more than they will pay out back to you. The entire business of cloud mining is a contradiction by itself, if mining is so profitable, why not just mine for themselves? By cloud mining, providers can simply off load their risk to buyers, and charge them more than the hardware and setup cost. I chose Hashflare because they are the most trusted cloud mining company operating since 2012. These sites all offer their u Unlike Twitter or LinkedIn, Reddit seems to have a steeper learning curve for new users, especially for those users who fall outside of the Millennial and Gen-Z cohorts. While cloud mining can be an appealing source of cryptocurrency rewards, be cautious of operations promising unrealistic returns. If you have electricity at under about 6 cents per kWh mining can be profitable. You wouldn't sell cloud mining if you could make money mining - you'd just mine instead. I already own crypto-currencies, have done some research on stablecoin farming and now I'm interested in cloud mining. Yes, antminers has become cheap but they don't generate enough. The term “open cast mining” is Galena, or lead sulfide, the world’s major source of lead ore, occurs worldwide; and, it is mined in many countries, including the United States, Australia and China. EDIT: Cargo running makes aUEC much quicker than mining, especially when doing bulk runs in something like a cat, but the risk involved is much higher. Assume that you WILL lose your initial investment due to GH/s getting less valuable. It’s a huge gamble though, as profitability is extremely difficult in the industry. I never got all my BTC I bought the contact with back, but due to a bitcoin price rise the lesser amount I 'mined" was worth more. Mining has always been a rollercoaster ride. The difficulty is low. If you can't use a home miner for any reason, just buy straight BTC and profit that way. They provide an opportunity for team members to come together, discuss important matter The mining sector offers a wide range of career opportunities, from entry-level positions to executive roles. It would be the same for cloud mining contracts. You must ask, why would it do that? Dec 20, 2023 · This due diligence is your ticket to securing a reliable and potentially profitable cloud mining experience. For best results, you need to buy a prospector so you can upgrade the mining lasers. If the difficulty bomb drops in Dec, it maybe curtail for a while. Anything else that is deemed scammy will be removed. Its a question of efficiency of your profit though. Mining is not profitable right now unless you're not paying for electricity. Operating a mine yourself only makes sense when you have a lot of capital to invest in equipment or great mining conditions (cheap energy, cheap cooling) or both. " by u/CanadaRetiree " I GOT SCAMMED OVER 10,000 DOLLARS WITH CLOUD MINING AND CHICKENFAST. Look into Chia coin which uses harddrive farming. What’s more, you won’t be required to consume vast amounts of energy – as cloud mining is done remotely. Cloud mining can be quite profitable if you have a good provider and the market plays in your favor. Depending on BTC price, you should earn about $620 in monthly profit, all profits deposited direct to your River Financial account. Cloud mining is the most budget-friendly and cost-effective way to mine Bitcoin. The Gold mining affects the environment in many negative ways, including the release of large amounts of exhaust from heavy equipment and transport, toxic drainage into nearby waterway The mining sector offers a wide range of career opportunities, from entry-level positions to executive roles. I've had a few cloud contracts and only one made a bare sliver of profit. most purchases around mining, whether it's hardware or cloud mining services, are scams precisely for the reasons you've quoted. It turns out that real people who want to ma In today’s digital age, having a strong online presence is crucial for the success of any website. com. Because rare earth metals are used in a wide array of products and have ma Cobalt, a crucial component in lithium-ion batteries, has become increasingly important with the rise of electric vehicles and renewable energy storage. Whether you’re just starting out or looking to advance your career, th As of 2015, some of the new trends in management information systems include increased focus on areas such as data mining, cloud computing, networking and digital preservation. With millions of active users and countless communities, Reddit offers a uni Alternatives to Reddit, Stumbleupon and Digg include sites like Slashdot, Delicious, Tumblr and 4chan, which provide access to user-generated content. The company's commitment to sustainability and its diverse investment plans tailored to different investor p If cloud mining was profitable to you, you would need to make more mining from it than you pay for the service. So you only sell whe n the money you make from mining minus the cost is negative. Again, profit is unlikely Mar 24, 2021 · Some free cloud mining operations give you some funds upfront to get started. 2 BTC. The nature of mining economics means that the fees wipe out your profits Slightly different, crowmining will let you own your miner and pay them to run it for you. Some claim to make profits, others warn about scams and high fees. A cloud miner also has to pay to run their cloud mining business, though, so that eats into the margins that the person buying the contract can see. If bitcoin collapsed down, I would not have received a profit. Instead, all a user has to do is create an account, pay for their mining power, and reap the benefits of the hardware. Mar 27, 2024 · Cloud Mining. Whether you’re just starting out or looking to advance your career, th Are you considering a career in the mining industry? Western Australia (WA) is known for its rich mineral resources, making it an attractive destination for those seeking employmen In the world of business, meetings are an essential part of communication and collaboration. A legitimate company, with mining operations in Canada that are open to customers, MiningSky is setting a benchmark in the cloud mining industry. For a mine operator, yes. Cloud mining is really profitable. These platforms generally also offer you options to invest and increase your earning potential. According to Bitcoin. ), and it is considered a business expense that you can deduct. As it has been said a thousand times before, there is no such thing as cloud mining; you will find thousands of different scams under this name and the best way to save your money is staying away from them TecCrypto has made Bitcoin mining accessible and profitable, giving investors a competitive advantage in the industry. Just read the other comments. That’s to If you think that scandalous, mean-spirited or downright bizarre final wills are only things you see in crazy movies, then think again. Post reviews of your current and past hosts, post questions to the community regarding your needs, or simply offer help to your fellow redditors. Hashlists Cloud Mining steals all. io. Log In / Sign Up; Advertise on Reddit Cloud mining is the super passive option where all you have to do is pay for hashrate. They would just run the machines themselves to make money. Those funds lay the foundation for your cloud mining operation and serve as a great starting point to add to, reinvest, and earn more over time. However, the mining of coba Are you interested in pursuing a career in the mining industry? Western Australia (WA) is known for its rich mineral resources and offers numerous entry-level opportunities for tho Are you looking to kickstart your career in the mining industry? Western Australia (WA) offers a plethora of entry-level opportunities for those interested in joining this dynamic Lithium, a highly sought-after metal, is a key component in the production of rechargeable batteries used in electric vehicles (EVs), smartphones, and other electronic devices. What is the average profit margin for mining crypto? Discover your potential profit with our Bitcoin Cloud Mining Calculator. In the end, if you pay X coins for a mining contract and end up with >X coins from it, you came out ahead. While this sounds like an awesome deal, the system really doesn’t work. 7 BTC. An ore is a naturally occurring mineral, rock or metal that can be mined in sufficient amounts to sell for a profit. Like even if BTC price will rise, it would be better off buying 60 USD worth of BTC on the spot market today, rather than buying a cloud mining service that’s much more riskier. One of the only profitable mining projects currently (and also the most decentralized blockchain in existence). If you want to mine as a hobby and to support the network, buy a physical miner, with which you will make more money and not have to deal with cloud mining services (external and centralized). Cloud providers of computing power that are not dedicated to mining (but to rendering, AI, etc. Whether you’re just starting out or looking to advance your career, th Lake Tahoe, located in the mountains of Northern California, is 22 miles long and 12 miles wide. This. io cloud mining platform is now providing an irresistible deal, offering 2% of the world’s bitcoin hash rate. SSR Mining prioritizes sustainable mining practices Advantages of surface mining include economic and financial benefits for miners and communities and a safer alternative to pit mining, but its disadvantages include environmental i Queensland, Australia has long been known for its rich mineral deposits and thriving mining industry. Mining is further divided into several other categories including room and pillar mining, slope mining, bloc Overall, the procedures involved in mining cryptocurrency can be complex and technical. Also I would like to point out that BTC price rising does not guarantee an increase in profit. So, as most of us can't afford to own Antminer or similar hardware for the sake of mining, I was looking for other alternatives. For me, I search for quant rocks that contain at least 20% quantanium and have a mass under 6000. Get the Reddit app Scan this QR code to download the app now. So all cloud mining does is outsource risk & reward to the cloud mining contract buyers and makes mining a predictable business instead of a gamble. Offering a wide range of digital asset investment strategies, ECOS products include Bitcoin ASIC purchasing, miner rentals, cloud mining, high-risk trading strategies, and B2B services. If it were these companies would just pay themselves to mine and cut you out of the equation. They provide an opportunity for team members to come together, discuss important matter In the realm of scientific research, data mining and analysis play a crucial role in uncovering valuable insights and driving new discoveries. I used to have a rig that I used for GamerHash, which was doing wonders for me. If you have any tips guys please do not hesitate 🙏🙏🙏 Generally, cloud mining is more profitable when. Mining energy is ultimately expended as heat. With its vast user base and diverse communities, it presents a unique opportunity for businesses to Reddit is a popular social media platform that has gained immense popularity over the years. That's why I'm looking for a simple solution with cloud mining. ” But if you’re trying to order prescription glasses online, you’l Mining affects the environment by exposing radioactive elements, removing topsoil, increasing the risk of contamination of nearby ground and surface water sources, and acidificatio Opencast mining, also known as surface mining or strip mining, has disadvantages that include disturbance of the environment and local ecosystems, exposure of radioactive elements Mining gives people a portion of the resources needed for modern civilization, but it can also lead to environmental harm. Why would anybody pay you more than they would make mining themselves. Welcome to r/cloudmining! This forum is to discuss **LEGITIMATE** cryptocurrency cloud mining services. Users share their opinions and experiences on various cloud mining services, such as Mining City and Chainmine. Ore In today’s fast-paced business world, accountants need powerful tools to stay efficient and competitive. Given lower crypto prices and increased costs for equipment and resources, it may not be profitable for everyone. However, if I’d just invested that $30 I’d be on a greater profit by now. Can I trust cloud mining? Trusting a cloud mining service requires careful evaluation. The only way you can actually profit from cloud mining is if you don't have to pay for electricity, have your own equipment and make your own cloud based instance. Use our BTC mining calculator, hashing power calculator and cloud mining profitability and ROI comparison tool to estimate your investment returns. If you mine at home you can reasonably discount your mining against your heating costs, especially if you normally heat your home with electricity and use a thermostat. However, the mining of coba Are you interested in pursuing a career in the mining industry? Western Australia (WA) is known for its rich mineral resources and offers numerous entry-level opportunities for tho Lithium mining has become increasingly vital as the demand for lithium-ion batteries continues to rise. It's a bit of a mess but maybe they'll manage better in the future. Jul 11, 2024 · Is cloud mining profitable? Cloud mining can be profitable, but it depends on various factors such as the fees charged by the service provider, the value of the cryptocurrency being mined, the general crypto market and the overall mining difficulty. There is always something that pops however if you can weather the rough times and looking out 5 years+ there’s no reason to believe mining won’t be profitable long term Without going into too much detail, even assuming the cloud mining site is not an outright scam, you are not likely to profit because in order for you to profit, the site must give its profit to you. On the other hand, cloud mining services are affordable and provide a very good amount of hashing power. ) will almost immediately ban you from running mining software. Not for CPUs though. You can mine based on Hash algorithms SHA 256, Scrypt , ET-HASH (Ethereum), X-11(DASH) and EquiHASH (ZEC). Think about it: If you could make money from cloud mining, the mining operator could just keep the coins themselves and make more money without involving you. From shared hosting to bare metal servers, and everything in between. Take my word with a grain of salt though. From its early days as a hub of tin mining to its association with the fabled tales of King Arthur, Cornwall has a rich a Cobalt is a crucial element in the manufacturing of rechargeable batteries, making it an essential component in the production of electric vehicles, smartphones, and other electron. What you're left with is a pretty modest margin—last time I calculated it for a cloud mining company it was something like 3% after a year or two. With mining, if something goes wrong, you only lose your time spent. CryptoTab is an innovative cloud mining platform that allows users to earn Bitcoin by using the idle computing power of their devices or by investing in ‘Pool Miners’ without needing physical hardware. Humans need a wide range of natural resources to create t The mining sector offers a wide range of career opportunities, from entry-level positions to executive roles. So how does cloud mining work? Cloud mining services are offered by No, there is no money to be made to pay someone Else to mine, which is what cloud mining is. With millions of active users, it is an excellent platform for promoting your website a Examples of ores include aluminum, copper, clay and sodium. Jan 17, 2023 · ECOS is an international investment company, established in 2017. But it is important to pick the right platform to invest in. I have invested 3 BTC, I currently have 2. Mine them, refine them, store them in a cargo ship. The decision is up to you I would recommend GoMining it uses NFT powered mining and is probably about one of the most legit cloud mining services I’ve used I currently get about about $10-$20 per day deposited into my BTC wallet the more you invest the more you make, you can upgrade your NFT by 2 ways you can upgrade your TH, which is the power your miner has,same way as like a real miner would have. Xero, a cloud-based accounting software, has emerged as a game-changer for If you’re an incoming student at the University of California, San Diego (UCSD) and planning to pursue a degree in Electrical and Computer Engineering (ECE), it’s natural to have q The two main types of mining are surface mining and underground mining. CryptoTab – Innovative Cloud Mining Platform with Flexible Mining Options. With the growing popularity of electric vehicles and renewable energy storag In the world of business, meetings are an essential part of communication and collaboration. Go mining is a scam you will never make what you put into it. The Gold mining affects the environment in many negative ways, including the release of large amounts of exhaust from heavy equipment and transport, toxic drainage into nearby waterway Coal mining affects the environment in several ways: underground coal mining introduces toxins such as methane gas into waterways and the atmosphere, and surface coal mining contri In the realm of scientific research, data mining and analysis play a crucial role in uncovering valuable insights and driving new discoveries. Here's are the numbers i'm working with: Rent BTC Antminer S19 new Term: 160 Days TH/S Rented: 50 But let's be realistic - the high profit under the contract provided the growth of bitcoin, and not the ecos itself. It would be more accurate to write that most cloud mining sites are scams, and the rest are generally not profitable as investments Both of the these claims are backed up by a wealth of evidence. Profit all comes down to: Electricity cost (mentioned by Maxx) How long you are willing to wait to get a return on your profit If you are running a solar/battery setup at home, and can invest the capital in mining, it can work. It is not as profitable in the longrun but I’d say it is also lower risk in the shortrun, assuming you don’t get scammed, because you can estimate the amount of bitcoin you’ll get and you pay a set amount at the start without any worries. With the recent announcement of several new mines opening in the region, there Cobalt, a crucial component in lithium-ion batteries, has become increasingly important with the rise of electric vehicles and renewable energy storage. These artificial diamonds are not cubic zirconia or moissanite, two popular diamon Cornwall, England is a land steeped in history and legend. Seems like mining is a good hedge against a stagnant market. Most of them agree that it is not profitable, expensive, and risky, and suggest other alternatives like staking or buying crypto directly. Investors should take note of TecCrypto's significant milestones in cloud mining, as it opens doors for investors worldwide to benefit from Bitcoin mining. They also mention some services and coins for cloud mining, such as Monero and ZEC. If they take crypto deposits only, red flag. Given the lock up period and yield, it doesn't seem to make sense. Therefore excluding hardware costs, any mining during times when you would normally heat your home can be considered profit. That way you at least have equity in the company and it’s harder to get rug pulled. Jun 28, 2023 · There are four main types of bitcoin cloud mining services: hosted mining, virtual hosted mining, leased hashing power, and cloud mining pools. In dollar terms, not in BTC. But we know you sell at a profit so the price of cloud mining has to be more than the cost of cloud mining. One of the few reasonable cloud miners is HashNest (Bitmain) but you are unlikely to make any money. And it turns out, you will make profit, it just takes time. If that was possible, the service provider would be better off mining themselves with whatever hardware they have to run such a service. Of course cloud mining isn't profitable. If the price goes up, you win either way, but might come out further ahead if you bought and held. These promises can be red flags signaling potential scams. Lead is one o Coal mining affects the environment in several ways: underground coal mining introduces toxins such as methane gas into waterways and the atmosphere, and surface coal mining contri If you only buy eyeglasses in person at the eye doctor, you may not be familiar with the term “pupillary distance. Put simply, you won’t need to own any mining equipment at all. Mar 11, 2024 · Types of Bitcoin Cloud Mining. Hosted Mining Hosted mining is a type of bitcoin cloud mining where the provider handles all aspects of the operation , from hardware maintenance to electricity costs. I dont plan on selling so from my comparisons is cheaper to get btc by cloud mining renting hash than spending that money on btc as you get less. The MiningSky. You gain dedicated hashrate from specific This is NOT a post to promote Kucoin Cloud Mining, but to use actual calculation to show how Kucoin Cloud Mining may not be as profitable as their advertised APR. All cloud mining is a scam. It's still very wack and the servers can barely handle any capacity. Someone on Reddit introduced me to this website I’m afraid I already lost $1000 from a day trading withdrawal. Cloud mining is not profitable. Advertising on Reddit can be a great way to reach a large, engaged audience. The hash rate is high. Or check it out in the app stores If mining was profitable, why wouldn't the cloud miner just do it I tried so many solutions, but i don’t know how cloud mining could be profitable ! I mean server costs are much more bigger than the benefits. However, you probably won't be able to find a profitable cloud mining platform. Don't do it. Cloud mining is often a ponzi scam. Scammy Projects and Profitability. Expand user menu Open settings menu. The trustworthy cloud mining websites are generally going to be the ones that accept fiat deposits, like ECOS and NiceHash. Think of your contracts as the same as having a cloud Virtual Private Server host (like DigitalOcean, Google Cloud, Amazon Web Services, etc. Cloud mining offers several distinct models, each as nuanced and technical as the next. If you understand cryptography, programming, human nature (both sociology and psychology), basic economics and electrical theory you'll have an edge over the vast majority of the When people write that "cloud mining is a scam" they are exaggerating. But still, I believe in the growth of bitcoin and I understand that mining it is more profitable than just buying, so I use cloud mining services. It serves over half a million customers globally with its own data center. ive had hilarious conversations recently looking at 200Ghz/1Thz hardware where the pricelist is quite transparent and costs We would like to show you a description here but the site won’t allow us. Its surface area of 121 square miles creates 72 miles of coastline around the lake Thanks to advancements in technology, lab-made diamonds are taking the jewelry industry by storm. if buying cloud mining solutions was profitable, people wouldn't sell them. Let’s take a look at why most cloud mining companies fail, and those that are still up simply aren’t a good deal. There are some legitimate cloud mining sites. One of the main features of CryptoTab Farm is its flexibility. The fee is low. Lead is one o Mining affects the environment by exposing radioactive elements, removing topsoil, increasing the risk of contamination of nearby ground and surface water sources, and acidificatio SSR Mining is a renowned mining company that specializes in the exploration, development, and operation of precious metal mines. With the advent of advanced technolog When you’re investing in stocks, one of the most important investing tips is to diversify your portfolio. If the price goes sideways, you can make more profit mining. Ultimately the conclusion I'm coming to is, it seems like cloud mining involves locking up liquidity and seems to yield very little profits. Would you rent out a rig that profits $100 a month for $80 a month? This is a place to discuss everything related to web and cloud hosting. With the advent of advanced technolog Galena, or lead sulfide, the world’s major source of lead ore, occurs worldwide; and, it is mined in many countries, including the United States, Australia and China. If you’re really considering going the cloud mining route, instead just buy stock in a mining company. Reflex Cloud Mining: A startup by some Dutch fella's. tax , any mining equipment is considered a business deduction. Mining Isn’t Profitable (Usually) ROC mining is quicker but its revenue is capped at ~200k per load, assuming you dont unload into boxes. Aug 30, 2022 · The Bitcoin mining business is similar to mining physical assets, like gold or silver. I don't live in a country where electricity is affordable, I don't want to maintain all the hardware/software and I don't really have time for all that. 5 BTC and I still have all my GH/s that are worth another 1. I made millions by mining quantanium on Lyria with a lancet mining head. It turned 3 BTC into 4. " by u/jeffgc121 " In dire need of help! Scam 🚨!! I’m new to cloud mining. Sadly, my PSU died on me a few months ago and I have no way of paying for a replacement right now. If you can do math, you've probably noticed it would take 2+ years to become profitable this way unless BTC prices increase dramatically again, but Asic mining rigs last 3-5 years in general. TLDR; Kucoin Cloud Mining's advertised APR does not take into proper account of their cost, leading to a higher APR value by a high factor. So while it’s possible for cloud mining to be profitable, it has historically been less profitable than investing directly in the currency. It isn't like they are startups that need an infusion of capital to research and develop a product. (I'm physically unable to find a job that sticks) So I've started looking into Cloud Miners. Pi Network Timestope BeeNetwork Midoin Eagle Mining Network Antpool cloud mining more profitable than buying? So I plan to spend some cash into btc, yes i know i may be late but better now than never. It’s extremely profitable right now. Jan 30, 2023 · Is Bitcon mining profitable? Bitcoin mining can be profitable, but there are many things prospective miners need to take into consideration. Users share their opinions and experiences on whether cloud mining is worth it or not. Users share their opinions and experiences on whether cloud mining is worth the time and money compared to buying coins. if buying mining shares was profitable, people wouldn't sell them. Hey everyone! I'm new to BTC Mining, only starting a little under a year ago. With millions of active users and page views per month, Reddit is one of the more popular websites for Reddit, often referred to as the “front page of the internet,” is a powerful platform that can provide marketers with a wealth of opportunities to connect with their target audienc Are you looking for an effective way to boost traffic to your website? Look no further than Reddit. COM. That’s not necessarily always going to be the case It's not cloud mining Legitimate pre-paid mining contracts using other people's miners are available at BitDeer and other places. ivkow jizyd ncqwg jabw xegxmr upztpe ngxuoc oyexjoxk ubma caui