Been investigating the potential of cloud mining cryptocoins as a novice and seeking good info.
So much to read, so many conflicting stories. Without any direct experience one is simply left wondering about it all.
After a few days and dozens of open tabs my brain is totallyl frazzled!
So I'm reaching out to the Steemit crypto community to kindly ask if anyone can please offer some useful insights.
On the reddit cloud mining threads there’s mostly warnings against even trying it, with various comments like:
“The small package on cloud hashing is $999 for 85Gh/s for a year. With 11% estimated difficulty increases, I would be lucky to make 0.85 BTC in a year, yet I could buy, what, ~1.4 BTC right now with my $999? I'm still not seeing how it makes sense mathematically.”
And I found this assessment pictured, which doesn’t make it look very good, from,
http://www.mytechnotes.biz/2017/04/cloud-mining-how-much-can-you-make.html
Then I saw a comment just last week that said:
“Put $12,000 into hashflare.io to buy 100TH/s of btc mining power and earn about $800 a week of BTC from the point you pay the 12,000”
Which is in direct conflict to the mytechnotes.biz chart (where there is a lot more supporting info), but when I asked for confirmation of those returns was just told to not let fear stop me.
I'm not scared, just very cautious.
So what is it, scam or opportunity?
Can anyone with direct experience please inform this novice if it is worth getting into cloud mining, or would one be better off just buying a spread of cryptos and holding them?
If so which cloud miners have you found profitable?
I've been recommended to Genesis-Mining and Hashflare, from the above chart there seems to be a bit of difference.
Which coins are best to mine right now, BTC, ETC, DASH, etc?
How about mining on a virtual server, anybody here doing that? Since it's either CPU or GPU mining I wonder if such would work.
Does anyone cloud mine STEEM?
Many thanks for any info!!!
