7 Reasons Bitcoin Mining is Profitable and Worth It (2020)

Is Bitcoin Cloud Mining Profitable?

Before the bitcoin was not so popular around the globe it was very easy for the miner to mine bitcoin at home and earn good profit.
However, if we see today’s time the things have been changed from mining concept to the real mean of cryptocurrency for which it has introduced. Bitcoin has gone under multiple hard and soft fork and every time the new coin generates.
The intensive increasing awareness and interference of external body have changed the concept of bitcoin to some extent now. wherein starting the personal computers are enough for mining now it is replaced with top-level costly hardware machines.
As the mining level goes high the difficulty level increases and it has made mining impossible to execute from home using PC hardware. This is only made possible when you have extremely low-cost electricity and cold climate to mine for few months.
The concept of cloud mining came into existence to cut off the high cost involved in mining. To deal with all the expensive gears in mining. The cloud mining idea quickly attracted all the small miners who cannot afford the expensive mining cost.
The companies offering the bitcoin cloud mining services are mostly a scam. So, you need to be extra conscious before you enter the world of cloud mining. Making a smart move by choose the top 5 bitcoin cloud mining companies and then research well on them.
The china is the most popular country when it comes to mining. There are several companies based in China that are doing serious cloud mining and earn good profits out of it. Try to understand the core of mining and every pros and con when you are going to get yourself in group mining.
It can be assumed that when the price of bitcoin grows you will be making handsome amount as well as mining company you are associated with. If the price fall for BTC there is no profit to mine and you will earn nothing out of it. So, it’s not always sure you get profit all the time similar to the game in the casino where luck can make you good money.
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Is Bitcoin Cloud Mining Profitable?

Before the bitcoin was not so popular around the globe it was very easy for the miner to mine bitcoin at home and earn good profit.
However, if we see today’s time the things have been changed from mining concept to the real mean of cryptocurrency for which it has introduced. Bitcoin has gone under multiple hard and soft fork and every time the new coin generates.
The intensive increasing awareness and interference of external body have changed the concept of bitcoin to some extent now. wherein starting the personal computers are enough for mining now it is replaced with top-level costly hardware machines.
As the mining level goes high the difficulty level increases and it has made mining impossible to execute from home using PC hardware. This is only made possible when you have extremely low-cost electricity and cold climate to mine for few months.
The concept of cloud mining came into existence to cut off the high cost involved in mining. To deal with all the expensive gears in mining. The cloud mining idea quickly attracted all the small miners who cannot afford the expensive mining cost.
The companies offering the bitcoin cloud mining services are mostly a scam. So, you need to be extra conscious before you enter the world of cloud mining. Making a smart move by choose the top 5 bitcoin cloud mining companies and then research well on them.
China is the most popular country when it comes to mining. There are several companies based in China that are doing serious cloud mining and earn good profits out of it. Try to understand the core of mining and every pros and con when you are going to get yourself in group mining.
It can be assumed that when the price of bitcoin grows you will be making handsome amount as well as mining company you are associated with. If the price fall for BTC there is no profit to mine and you will earn nothing out of it. So it’s not always sure you get profit all the time similar to the game in the casino where luck can make you good money.
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Is Bitcoin cloud mining profitable?

Is Bitcoin cloud mining profitable? submitted by Amir_MM to BitcoinDE [link] [comments]

Is Bitcoin cloud mining profitable?

Hi

I want to get into Bitcoin mining but the hardware isnt the easiest to buy/sketchy companies etc. Cloud mining seems quite nice as you dont have to worry about alot but it seems to good to be true at the same time.

Now that it appears cloud mining isnt the best option, does anyone recommend Bitcoin mining hardware. (Dont say butterfly labs or other such companies)
submitted by funkspiel56 to Bitcoin [link] [comments]

‘A Race Toward Zero’: With Hashrate in the Clouds, Bitcoin Mining Is Less Profitable Than Ever

‘A Race Toward Zero’: With Hashrate in the Clouds, Bitcoin Mining Is Less Profitable Than Ever submitted by a36 to AllThingsCrypto [link] [comments]

Is Cloud Bitcoin Mining safe? What profits can you expect?

submitted by pattomm to Bitcoin [link] [comments]

Is Cloud Mining Profitable Than Bitcoin Mining Hardware? | BTC Wires

Is Cloud Mining Profitable Than Bitcoin Mining Hardware? | BTC Wires submitted by cryptoallbot to cryptoall [link] [comments]

[uncensored-r/Bitcoin] What is the most profitable legit cloud mining service in 2018?

The following post by sex_anarchy is being replicated because the post has been silently removed and some comments within it have been silently removed.
The original post can be found(in censored form) at this link:
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The original post's content was as follows:
Hello to everyone. I am planning to invest around 2618.08$ into cloud mining around these days since i got some money finally woooo. I am wondering what is the most profitable option for me? Also what is the percentage of profit that you get based on your contract ? Thank you all in advance for straight forward answer, that will be much appreciated. :)
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Is Cloud Mining More Profitable than Bitcoin Mining Hardware?

Getting started with bitcoin mining can be a difficult process for many. For example, you must consider things like the specific algorithm used by the Proof-of-Work cryptocurrency you want to mine. Additionally, bitcoin mining hardware can cost thousands or even tens of thousands of dollars. With all of these challenges it might be a good idea to look at alternative ways to gain cryptocurrency profits, but is cloud mining a legit, more profitable option in the long-run? In this article, we’ll compare these two possible options so you can make a more informed decision.
Costs of Bitcoin Mining Hardware
As discussed in this post, bitcoin mining hardware generally requires a substantial upfront financial commitment on the part of miners. First, it’s important to consider how much mining rigs cost. This not only depends on the cryptocurrency which you are aiming to mine but also how expansive and powerful your mining operation needs to be.
First, let’s consider hardware costs. If you want to mine BTC, for example, you’ll most likely need an ASIC mining rig. These are typically much more expensive compared to GPU and CPU mining rigs. Despite their potential to mine at much faster hash rates, ASIC mining rigs often face scrutiny for the fact that they cannot be repurposed. This means that, if a cryptocurrency project makes changes to their hash algorithms, ASIC miners will have to buy new gear. This can lead to some significant costs that can easily negate revenues and even lead to net investment losses.
In contrast, GPU and CPU mining gear can generally be repurposed if algorithm changes occur. In addition, these rigs are usually much less than their ASIC counterparts. Additionally, more projects are continuing to trend towards ASIC-resistance rather than ASIC-acceptance. For most miners, this means an overall reduction in both upfront and ongoing costs.
While having one mining rig might be a good first step to see if you can indeed become profitable, many people start out with more rigs to have a multiplier effect. However, even with rising prices, starting with multiple rigs should be done cautiously as each additional rig will likely add to the number of months it takes to make back your initial investment.
Of course, other factors like electric bill costs have to be considered. These vary by geographic area, making it difficult to put a precise amount on how much money is needed for keeping hardware rigs operations.
Costs of IT Cloud Mining
In comparison to hardware mining, costs for IT cloud mining are much simpler to calculate. Most companies run on a monthly subscription model that is determined by the cryptocurrency you want to mine and the hash rate speeds as seen on popular sites like Genesis Mining and HashFlare.
Prices for 2-year contracts of ETH mining with Genesis Mining currently vary from $1,520 at 40 MH/s to $12,960 at 360 MH/s.
HashFlare offers 1-year contracts of ETH mining for $1.80 per 100 KH/s.
Make sure to read reviews and check out projected ROI on any cloud mining service. The fact is that there are many services with extremely low profitability and even some which are known scams. Luckily, there are a few guides available on the best ways to identify potential cloud mining scams.
Hardware Mining ROI
Even though there is no way to say for certain how long it will take to break even on investments in hardware mining equipment or cloud mining, it’s still crucial to do research on estimated time frames. According to most miners, it’s difficult to expect to become profitable within 3 to 6 months. 10-15 months is realistic for many, though. A lot depends on crypto prices, electric costs, and the type of mining rig you use. Nicehash provides a good calculator for determining this.
IT Cloud Mining ROI
Based on information from Reddit forums, reviews, and ROI calculators, it is clear to see that cloud mining isn’t all that popular or profitable. For example, as of May 30, 2018, HashFlare Scrypt and SHA-256 currently take 3,828 and 3,983 days (or a little over 10 years) to reach ROI on BTC respectively according to this calculator from Coinstaker. Genesis Mining for ETH has an even worse ROI, taking around 25,992 days (70+ years). In both cases, it’s difficult to justify cloud mining over hardware mining.
The problem with keeping a subscription for cloud mining is that it can be difficult to keep paying monthly even in bear markets. These stats could certainly improve if we see a massive bull run as seen in December 2017; however, it can be pretty difficult to predict when a bull market will begin and end.
Compare this to using bitcoin mining hardware, and the choice is a bit more obvious. That’s because, even if the market is bear, most costs are upfront and not recurring. Sure, there are costs like electric bills to consider with hardware mining, but there are several locations throughout the world where energy consumption is very cheap and hardware mining is legal, making it a clearly more profitable option than cloud mining even in bear markets.
Conclusion
Despite the high upfront costs, the consensus is that bitcoin mining hardware remains much more profitable than cloud mining. Possibly the biggest benefit of cloud mining is its overall ease-of-use since it requires no difficult hardware installation and avoids potentially unpredictable electric costs. However, most in the cryptocurrency community would agree that if you can’t start a hardware mining operation, it’s probably best to make profits through trading rather than going the cloud mining route.
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This cloud mining contract is extremely profitable right now. /r/Bitcoin

This cloud mining contract is extremely profitable right now. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Cloud Mining IS Profitable /r/Bitcoin

Bitcoin Cloud Mining IS Profitable /Bitcoin submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

[uncensored-r/Bitcoin] This cloud mining contract is extremely profitable right now.

The following post by prez_yt is being replicated because the post has been silently removed and some comments within it have been silently removed.
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The original post's content was as follows:
Z-Cash mining contracts on this site are extremely profitable right now. They are 2-year contracts with a 5 month ROI. I really think they will raise the prices very soon to match the rates of the other mining contracts so I would buy soon. Here is a screenshot of the current profit https://imgur.com/a/qdKl7
https://www.ccgmining.com
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03-01 17:12 - 'What is the most profitable legit cloud mining service in 2018?' (self.Bitcoin) by /u/sex_anarchy removed from /r/Bitcoin within 61-71min

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Hello to everyone. I am planning to invest around 2618.08$ into cloud mining around these days since i got some money finally woooo. I am wondering what is the most profitable option for me? Also what is the percentage of profit that you get based on your contract ? Thank you all in advance for straight forward answer, that will be much appreciated. :)
P.S. NO AI BOTS ALLOWED!
'''
What is the most profitable legit cloud mining service in 2018?
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Author: sex_anarchy
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What is the most profitable legit cloud mining service in 2018? /r/Bitcoin

What is the most profitable legit cloud mining service in 2018? /Bitcoin submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

[uncensored-r/Bitcoin] This cloud mining contract is extremely profitable right now.

The following post by prez_yt is being replicated because the post has been silently greylisted.
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[removed]
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01-14 15:03 - 'This cloud mining contract is extremely profitable right now.' (self.Bitcoin) by /u/prez_yt removed from /r/Bitcoin within 9-19min

'''
Z-Cash mining contracts on this site are extremely profitable right now. They are 2-year contracts with a 5 month ROI. I really think they will raise the prices very soon to match the rates of the other mining contracts so I would buy soon. Here is a screenshot of the current profit [link]1
[link]2
'''
This cloud mining contract is extremely profitable right now.
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Author: prez_yt
1: https://imgur.com/a/qdKl7 2: ww*.*cgmini**.com
Unknown links are censored to prevent spreading illicit content.
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11-24 07:32 - 'How Profitable is Cloud Mining? A Mathematical approach of Genesis Mining.' (fscomeau.com) by /u/fscomeau removed from /r/Bitcoin within 6-16min

How Profitable is Cloud Mining? A Mathematical approach of Genesis Mining.
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Author: fscomeau
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12-16 21:12 - 'Cloud Mining, a daily updated blog to test if it is really profitable or it is just a Ponzi scheme' (sites.google.com) by /u/piscriddo removed from /r/Bitcoin within 1-11min

Cloud Mining, a daily updated blog to test if it is really profitable or it is just a Ponzi scheme
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is cloud mining profitable? /r/Bitcoin

is cloud mining profitable? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Is cloud mining BCH profitable? Also where can i get a contract besides bitcoin.com and viabtc? both seem to be sold out? /r/btc

Is cloud mining BCH profitable? Also where can i get a contract besides bitcoin.com and viabtc? both seem to be sold out? /btc submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Are there any profitable and reliable cloud mining companies? Or all is scam? /r/Bitcoin

Are there any profitable and reliable cloud mining companies? Or all is scam? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

My experience: Cloud mining is no more profitable for individuals /r/Bitcoin

My experience: Cloud mining is no more profitable for individuals /Bitcoin submitted by coincrazyy to BitcoinAll [link] [comments]

Bitcoin Cloud Mining in 2019 Review - Profitable? Scam? Rock Miner  Genesis Mining  Hashflare Bitcoin Vs Ethereum Cloud Mining  Which Is More Profitable? IS CLOUD MINING STILL PROFITABLE? - YouTube Is BitCoin Cloud Mining Still Profitable in 2018?  HashFlare Review BITCOIN MINING IST NICHT MEHR PROFITABEL?!

Let’s put one of the most profitable cloud mining companies to the test - Hashflare. Doing the math. If you go to the company’s pricing page and purchase 10Th/s of Bitcoin mining power (SHA-256) it will cost you $1,200 or the equivalent in Bitcoins around October 17, 2016. If I use a Bitcoin mining calculator and try to predict my profits ... Bitcoin Cloud Mining Profitability – October 7, 2020. Latest Update. Most of the contracts are unprofitable at the moment. Currently, the only contract that is close to being profitable at the moment is one from IQmining.com, but again, this is a suspicious company that is not to be trusted blindly.; Daily profit calculation on most mining platforms is extremely simple: mining contract ... The fact of Bitcoin price growing could be an answer the popular question; is Bitcoin mining profitable? How To Mine Bitcoins. It’s understandable if beginning investors itching to get some information on how to start Bitcoin mining after having a basic idea of what Bitcoin mining is. Buy the custom mining hardware, this comes as cards that you insert into the computer you’ll be using for ... Wenn Du zum Beispiel heute 500 US-Dollar in einen Bitcoin-Cloud-Mining-Vertrag bei Hashflare investierst erhältst du dafür im Gegenzug eine Rechenleistung von derzeit 3,5 TH. Mit 3,5 TH wirst du bei gleichbleibender Mining-Difficulty in einem Jahr ca. 0.2 Bitcoin geschürft haben. Im Schnitt müssen aber noch die Maintenance-Kosten, die jeder Anbieter täglich von der erschürften Menge ... Ob Bitcoin Mining noch profitabel ist, lässt sich pauschal nicht beantworten. Klar ist, dass es große Mining Pools braucht, da man als Einzelperson aufgrund der Kosten keine Gewinne erzielen würde. Anbieter schütten Mining Ergebnisse in Bitcoins aus und sorgen so dafür, dass der Bitcoin Bestand ihrer Investoren stetig wächst. Diese müssen zunächst jedoch den Break Even Point erreichen ...

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Bitcoin Cloud Mining in 2019 Review - Profitable? Scam? Rock Miner Genesis Mining Hashflare

Is mining Bitcoin BTC still profitable in 2020? Let's review mining profitability, Bitcoin, Bitcoin Cash, and Bitcoin SV. Block reward halving, network diffi... This video is unavailable. Watch Queue Queue. Watch Queue Queue Kostenlos abonnieren: https://goo.gl/12TEw6 In diesem Video rede ich über Bitcoin Cloud Mining/Mining und erkläre euch, warum Mining nicht mehr profitabel ist. Zu SaveDroid: https://goo.gl ... Start mining Bitcoin & other crypto with HashFlare - https://hashflare.io/r/C00B7D11 Start your Control Finance investment journey here - https://control-fin... Even with Bitcoin's price right down in the $8000 price range, cloud mining with Hashflare is profitable still. My advice is to mine and hold btc until it goes back up to the $15-$20k range which ...

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