oh that’s a nice rule of thumb, even though I’m not mining aside from that small contract on @GPU_Mining
1 Like
Nothing against you @GPU_Mining, but I sincerely believe the whole cloud mining industry is always a very bad investment. @Blue you’ll get more money by directly buying ZEC.
2 Likes
We rent out hardware (as in Physical cards in machines) and run a miner of your own choosing. Big plus is that you can switch between coins if you want too and directly mine into your own wallet. Like @GPU_Mining we see a lot of unhappy customers from Genesis Mining and dont like to be compared to them.
1 Like
You are conflating issues. Mining is currently profitable. Cloud mining is less profitable due to the extra expense of paying the cloud mining provider. Buying ZEC directly will be more profitable than cloud mining.
Your interchangeable use of terms mining and home mining are just aimed to distract to fit your narrative. This is cloud mining and buying ZEC directly will almost always perform better.
1 Like
Completly agree with @garethtdavies. Mining is profitable (moreover you own the hardware so you can sell it at the end), cloud mining is not that profitable (if at all).
IMO Cloud mining is just a way to get money from beginners and non tech-savvy enthusiast.
1 Like
With you for 1000 H/s for a year it cost 2500 USD.
Let’s take Canada for example:
You can have a setup of 4 RX 470 (approx 1080 H/s) for 1300 USD.
Per month it cost you approx 30 CAD of electricity, but let’s say 30 USD.
Total for a year 1300+30*12=1660 USD.
And at the end you can sell all your stuff.
How long have you been doing this as statements like this are concerning. This is both patently absurd and false. There are a lot of occasions where a miner may continue to mine, even at a less than breakeven price. Have you considered that some people have contracts (e.g. electricity and data centre) - and before you simply reply with “they’ll just move to a more profitable coin” there is zero guarantee such a coin exists.
Again you continue with the mining from home narrative whereas have yet to make a single argument against the fact that buying ZEC directly will perform better than your contracts.
If you consider anything I wrote an insult then you have very thin skin. You are saying mining is profitable therefore our cloud mining contracts must be profitable as else noone would be mining. Clearly this logic is fatally flawed.
The economics of mining are fairly simple as there is a profit margin in mining. Paying someone else to mine for you reduces this profit margin to zero (or likely less than zero). This is why it is nearly always more profitable to buy ZEC directly than to cloud mine.
OK, if you are convinced that mining is always profitable and your customers will always have a profit then good luck to you. It begs the question why if you have access to a guaranteed profitable system why you would need customers at all? That’s rhetorical as my point is that if such a system were indeed possible then you wouldn’t be the only one doing it.
1 Like
No. It largely means that you don’t assume the risk, your customers do.
By all means…STAY AWAY from GENESIS MINING!!! I’d rather slice my eyeball with a razor blade and drop rubbing alcohol in it than to use them again.
2 Likes
I think you mean ‘raises the question’.
Sure 
I am sure you understand what I am intimating. Investors would be falling over themselves and/or the proprietors would leverage themselves to the hilt if they could guarantee riskless returns (see earlier posts whereby it was stated that mining is always profitable).
The fact it is it is not riskless and in these cloud mining ventures the risk is largely borne by the customer. All of that and you will be very lucky to even break even on mined ZEC. Save yourself the hassle and buy ZEC directly.
Very good advice given by @garethtdavies regarding cloud mining,from the looks of it @GPU_Mining seems to be a better option than the scam cloud mining companies that came before but there is no getting away with the points @garethtdavies has made.