Should I Do Cloud Mining Or Mine Myself? Bitcoin Cloud Mining Contracts

Mining for Bitcoin is out of the reach of most people. It takes special hardware. So companies offer cloud mining contracts. But are they a good idea? Can you make money with them? The answer is yes but there is a huge amount of risk with them as well.

Good Tools and Services I like.

Of note: I am not giving you professional investment advise. You need to do what you feel is best for you. I am just relating what I have found to work and not work for myself. You can use what you see in this video as a possible guide but your own success or failure may vary. :)

Current Companies:

[shipreck]

You don't understand how hashflare works lmao.
1. You don't pay monthly its 1 time for the year long contract
2. The maintenance fee comes out of the income it mines, if the income is less than maintainance fee the contract just ends.

[seaycyp]

Thumbs up for the effort. I'm not going to be an idiot like the others and bombard you about the things you were wrong. Instead I'll just correct you: cloud mining contacts are paid up front for a year or whatever period. You can choose to invest $100 or whatever high amount like $10, 000. They will generate you btc in whatever hash rate yoy have. The pooling fees are around 20% for hashflare (much more for genesis) and at current prices the profitability is good. Like you said, profit can change depending on block difficulty and/or btc market price to fiat currecy. What most people don't understand is that this is NOT a way to to get rich fast but instead a technological revolution. People should never sell their accumulated btc dor fiat currecy. All that does is make fiat more valuable which ia what the cryptocurrency concept is in essence against.

[yaboi_]

i have to say i love the quality on these videos

[hotsauceislethal]

The best idea is to simply mine for the most profitable alt-coin and then just sell it for Bitcoin. You can see the most profitable coin to mine at any given time by checking websites like whattomine or coinwarz.

[varsevic]

Hashflare are the best! Very satisfied with them!

[addbox]

just want to say that hashflare you pay once and it takes a small fee out of what you mine until the 1 year is up or its not profitable, antminers are good to mine with but they only take bitcoin cash for them with antminer or bitmain supports bitcoin cash over bitcoin

[better_call_joe]

If you buy a contract you pay only once, when you buy.... you’re not paying something for 1 year or for life. The maintenance fees are subtracted form the earning, you don’t have to pay, you don’t have to give your credit card. Please study the subject before talking about it, that’s would be a smart idea.

[TheRuneCrusader]

here is another question for you should you buy bitcoins or use the money you was going to use to buy bitcoins and buy a cloud mining contract

[PhillipRauschkolb]

It seems to me, if you're GPU mining (not bitcoin mining) then doing it yourself is the way to go. But the information about cloud mining provided in this video is not accurate.

[dbased]

Do you got enough tabs open, holy fuck lmfao

[Helthurian]

You have a very poor understanding of the cloud mining contracts. Please do more research before hand. Lifetime contracts only last until the mining income isn't higher than the maintenance fee and you only have to pay the initial fee once -- which is why it's called initial. You can reach a break even point with cloud mining in half the time that it takes an Ant Miner. Any BTC mining profitability site can show you that and if you wish to get even more complex, you can even take conservative daily income estimates, subtract the daily maintenance fee, and calculate your break even point within Excel.

[sprototles]

hi markee :)
can you take a look on how to mine Litecoin ?

[jonahscott]

i have active contracts in hasflare and currently the btc hashflare contracts are ROI in 77 days currently and you only pay 1 time for your 1 year contract then after that 1 year the contract goes away.

[XxlildramaxX]

I put an antminer s9 into a profit calculator and set it to etherium mining and it says the profit would be $109 million dollars per year lmao. Is that accurate?