Cloud mining profitability

Some facts about cloud mining profitability

Not so long ago, somewhere in the years 2013-2014, 50% of miners who came to cloud mining, stopped using it as the main income. Someone remained faithful to the cryptocurrency and tries to earn (get) it by all means.

Of course, I believe that the collapse of many companies is closely related to the increase in complexity and the fall of the colossal-high rate of Bitcoin.

Despite all these failures and the fall in the rate, interest in the cryptocurrency is only increasing.

The demand increases and thus motivates companies to develop and produce asics, to introduce new technologies, better solutions, lower electricity costs and, of course, a balanced profitability.

All these positive facts have not bypassed my understanding of the existence and development of cloud mining.

What is it cloud mining

Let’s visit a well-known service Hashflare datacenter. It is a subsidiary project of one of the giants of the manufacturer – Hashflare. In detail about him, I wrote the whole article.

I hope to read smart people who know how to think, and so to explain that Hashflare datacenter is the real mining, I will not.

The price of power and profitability on this project depends on global factors, that is, the price of Bitcoin and this complexity of mining.

Today, the existing services of “cloud mining” offer a relatively adequate income.

You have to understand that this income may differ slightly from the yield on a real (physical) equipment.

Now let me clarify: when you use asic, you pay less for electricity as well when you pay a fee for electricity for each individual Gh/s on cloud mining services. In addition, some small percentage, one or another company takes itself during the removal and transfer of the cryptocurrency to your bitcoin wallet ( here is an article about which wallet).

That is the reality! We hope that sooner or later ZeusHash will create a new product, and we will see how the profitability of the company will grow.

Watch what complexity Bitcoin is and what is the real income from the amount of Gh / s on the service (under mining) with the help of a calculator.

In cloud mining, the total income for a certain period of time from the highest price, we can divide by 50%. As a result, we get an approximate income from a particular project.

My personal opinion

I believe in the development of equipment for the extraction of cryptocurrencies and more than sure that in the near future we will get something new, perfect, and of course, expensive, but really profitable and profitable. Due to such changes in the world of cloud mining will be new players and possibly “giants”.

Well, today, I recommend you to use what is. And do not despair, and believe that it will be a stellar hour, or, as many miners used to say – To the moon! So we take while the bitcoin rate does not show growth, but does not fall “into the pit” as promised for a long time by super analytics, the profitability of cloud mining, though not fantastic (remembered for 400% per annum and payback in 80 days), but keeps in the region of 100% per annum. At the current rate and at current costs of production payback period is 175 days (screenshot on power 7TH/s).

Hashflare datacenter and meanwhile has announced many changes and useful features in version 2.0 of its website on the management of cloud mining.

Who is mining there or who is just wondering let’s see what we expect from all this…

  1. The new version of the site will add the ability to mine BCH (Bitcoin Cash) and other alternative currencies. For me, this is not relevant, there is no time to deal in detail with numerous cryptocurrencies.

Here is a sample list:

  • Bitcoin
  • Verge
  • Dash
  • Monero
  • Zcash
  • Bytecoin
  • Siacoin
  • Dogecoin
  • SmartCash
  • DigiByte
  • Komodo
  • Electroneum
  • ZClassic
  • Nexus
  • ZCoin
  • Bitcore
  1. Once again, they promise to return the minimum payout threshold to 0.001 BTC. Ah that the indeed was detained already with this. The current level of 0.05 is very high for many.
  2. They plan to make an auction of capacities. It will be possible to buy and sell capacities not at the platform, but at each other. Well, maybe that makes sense. I have heard several times that people are trying to sell accounts with capacity on HF. And at auction, it will be much cheaper than the price of the HF.
  3. They plan to hire more workers so that support messages are processed in a maximum of 24 hours, not as they are now. They say that there hung that about 5 000 reports.
  1. Create animations, videos for beginners, so they understand how to work with the site. (well damn nonsense that is so tough?)
  2. Make a yield calculator that will take into account the service charge and show the net income already. Well, actually, Yes, now there is a problem that has something to count manually. So you can select the currency that we minim and see the return on our facilities.
  3. Make the button “reinvest” not everyone in reinvestment and the opportunity to 50/50. I.e. 50 percent of your coins sent to the purchasing capacity of the machine and 50% remains in the account.
  4. They plan to give the opportunity to the purchased algorithm and capacities to change the type of cryptocurrency for mining. Well, for example, you bought the 10TH/s on the Sha-256 algorithm, remembered a month of bitcoin, and then considered that it is more profitable to mine Monero, and then returned to Bitcoin again. Probably makes sense, because the profitability of different cryptocurrencies on the same algorithm jumps and periodically shoot different profitable options.

That’s the news. The exact timing of these innovations are found, but they say very soon.By the way, remember the loud statement of the head of JPMorgan about bitcoin? He said something like this is complete nonsense and it seriously shattered the cryptocurrency rate. So, recently there was news that the head of JPMorgan Chase Jamie Dimon expressed regret regarding their statements that bitcoin is a “hoax”. He said this in an interview with FOX Business Network.

“I’m sorry I made such statements”, – said the banker.