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Cloud mining and price rise

Discussion in 'Mining' started by AiEm, Mar 24, 2017.

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  1. AiEm

    AiEm New Member

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    Hi

    I'm new to the forums and hope it's ok to ask for advice about this topic here.

    Cloud mining (like genesis) seems to be a good deal right now. I'm considering investing but am a bit worried about what would happen if the Dash value continues its rise.

    How likely would you consider each scenario?:


    right now: dash at 100 USD



    scenario 1:

    get 1000MH cloud mining contract for 4.5k USD.

    dash stays at 100USD

    right now 1000 MH mine 8 Dash /Month

    6 months -> 48 dash

    got my investment back in Dash and own 4.8k USD worth of DASH




    scenario 2:

    get 1000MH cloud mining contract for 4.5k USD.

    dash goes to 500 USD in a month from now

    difficulty also goes x5 and you mine only 1.6 DASH a month (?? i have no clue about this, how difficulty adjusts)

    after 6 months you mined 9.6 DASH also worth 4.8k USD



    scenario 3:

    dash goes to 500 USD in a month from now

    no mining. I hold my 4500$ in dash (45 DASH)

    my 45 DASH are now worth 22.500 USD



    Thanks :)
     
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  2. SlyDash

    SlyDash New Member

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    Dash Address:
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    Hi, I have a similar question... (To be or not to be)

    Mining or Buying ? Or both ?

    I've got 500$ to invest by month, my strategy is buying 500$ of M/Hs one month then buy 500$ of dash the next month, and repeat that for every month!

    And reinvesting all gain made from mining payout to buy more M/Hs for at least the first year...!!

    I did not made any calculation for ROI, but my feeling tell me to be in both world... mining and holding dash in a wallet !!

    Any one got suggestion base on stats, ROI, difficulty rising etc.. ??

    Thanks!
     
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  3. Dash4Ever

    Dash4Ever Active Member

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    Can just share my experience with cloudmining and you make your own decisions.

    Have cloudmined BTC, Dash, Zcash and certainly something more I can't remember right now :) at genesis mining.
    Think the only time I managed to make a profit was Dash, however, this is about 2 years back in time.

    In the end, I always felt cheated out of that money I spent on cloud mining. Nowadays I do not advocate it anymore or giveaway promocodes.
    But certainly if you like to receive daily payments of Dash and do not have the opportunity to mine itself, so it can certainly be fun and possibly profitable.

    Wish you all good luck!

    //Dash4Ever
     
  4. Tizswa

    Tizswa New Member

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    Since the price will go down a bit, because the 100 $ per dash in so few time created too much speculation, I think it is still a much better time to mine instead of holding. I will personally invest in hash power, believing that evo will change the game.
     
  5. Al_WaySlate

    Al_WaySlate New Member

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    Just buy DASH for that amount when it is low!

    I've been mining with Genesis since December 2016, but only bought like 0.2G/hs just to try them out (took the BTC life-time contract). (*)
    Today I’m at 14USD. And to be honest...mining BTC or switching the power to DASH (AUTO), which still will mine BTC but pay you in DASH, is TOTALLY not worth it...

    I actually got to that 14 USD a lot faster by switching the hashes to Dogecoin, and traded those for BTC or DASH on an exchange...I should’ve done that a lot sooner.
    It might have gotten me my initial 30USD for the contract back by now, LOL :D
    And ok...I will make some money eventually...someday, maybe..., I hope...when hell freezes over...

    The only way to make some money faster is using that affiliate thing those sites really love to use. You’ll get some extra hash-power for every contract bought by someone using your promocode or link.
    You will need to spam like every crypto Youtube video, blog, forum...your mother and even your neighbours cat with promocodes to max that out!
    Basically you will be their advertising puppet, might get prosecuted for the cat, removed from mother’s last will and become an annoyance on the internet in general.

    Now the investment you are willing to make, is way beyond my wallet. But I most certainly would never invest that amount in a mining contract.
    I’d just buy DASH when price is low, sell a bit when high, use profit to buy some other top 10 altcoins...or reinvest when the price drops again....rinse and repeat...
    Or before I forget, buy DASH for that amount and setup a masternode.

    HOWEVER,...if you still are planning to buy a contract...PM me and I will send you my never before used/spammed promo-code! LOL,...but seriously...not joking.

    GRTZ & Good Luck!



    (*) Life-Time contract is the most stupid name for it, because BTC (and a lot of alts) have a max amount limit. So the faster it gets mined, the shorter your “Life-Time” becomes...
     
  6. dineanddash

    dineanddash New Member

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    I started with 10 TH/s Bitcoin contract about a month ago - for 1.1 Bitcoin SHA256 /$1300 USD. I've tried Dash(auto), BTC and UNO. Even with Dash at $100 BTC was making more sense - almost double, and then slightly behind UNO.

    At current rates it will take 14 months to get payback. It's hard to say how it will go at this stage - kinda think it will be a crap shoot if it's going to work out better than just a buy and hold.
     
  7. Al_WaySlate

    Al_WaySlate New Member

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    Well, the amount of hash you bought is way higher, so ya, if you throw enough money at it, it might be profitable...But 10TH/s price is like small fortune for me :D
    That 0.2TH/s I got was like I said to try them out, it will be profitable too eventually, just not THAT profitable :)

    Let us know in 14 months :)

    GL
     
  8. Sven Stiller

    Sven Stiller New Member

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    If anyone interested, Cryptocompare has real-time info on the profitability of different mining contracts.
     
  9. freemoneyson

    freemoneyson New Member

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    wow woop woop
    for dash im getting sick profits
    check out genisis mining its the best!!
    use my code for 3%!!!!
    ioCckv
    THANKSS
     
  10. acbidua

    acbidua New Member

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    The good thing on genesis mining is the 2 years contract. You can break even in less than a year, but of course if the price will not go down, as of today, dash it is $150+.
    Remember that you are not mining $$$ but you are mining the quantity of dash, if everything goes well then you will have a great profit, but if not, well it is up to you if you are afraid of the price going down. All has a risk, you just need to know how can you handle it.

    BTW my code on genesis mining is: mVz3wQ
    You can see also how did i started on genesis mining on youtube. youtube.com/channel/UCCz2tgzwgTUmf7QfghAdaRA/videos
     
  11. Amait

    Amait New Member

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    Hashgains provides easiest, cheapest and best way to Mine Bitcoins effectively in fair and secure way. Even the maintenance fees per Gh/s for cloud mining is very low and it also provides free setup for all the customers.
     
  12. AiEm

    AiEm New Member

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    Thanks everyone for your answers. Full disclosure: by the time I wrote my initial post, I had already invested my whole DASH saving into genesis dash mining and was freaking out!

    So here's my aftermath almost 6 months later:

    on march 20 I invested 5800 USD or 58 dash at the time into genesis. Thats 1300 MH. At the time the mining calculators gave me a return of nearly 15 dash per month. I figured it would take a few months for the next dash pump and by that time I would get back my 58 dash. I was wrong, as everytime dash rose, the mining reward in dash became less, obviously. By now I've mined 37 dash

    In march, I had a daily return close to .45 dash. Today as dash is worth approx. 350 usd my daily payouts are only .05 dash

    In USD my daily return went down from something like 30 to 20.

    So yeah, you could say my investment has been profitable as the 37 dash mined in 6 months is worth over 12k and my investment was only 6k. But had I just hodl'd my dash I would be sitting on 20k. I doubt that by the end of the 2 year contract I'll get back the 58 dash I initially invested.

    as a short conclusion i would not recommend cloud mining, or any kind of mining and rather just hold onto your coins during a bull market like we are seeing now.

    Cheers
     
  13. GrandMasterDash

    GrandMasterDash Well-known Member
    Masternode Owner/Operator

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    That's exactly my experience with GM. What you really need to do is take your earnings data and overlay it with historical hashrate data. When I did it, there was no correlation, yet as you pointed out, your earnings magically diminished as the price of dash went up. I just hope the scammers fall hard.
     
  14. frankie4fingers

    frankie4fingers New Member

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  15. PearlineRandell

    PearlineRandell New Member

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    I think you need to mine the currency yourself. Either I advise you to buy a currency now because it is low-cost today and sell the currency later when it will be expensive.
     
  16. BINAPEX

    BINAPEX New Member

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    I am not sure if mining still worth it at all...
     
  17. MarLion

    MarLion New Member

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    I prefer buying when the amount is low then grab the chance to sell it when the price rises. It’s just a matter of timing to get profit. Mining takes a lot of time, I just want to keep the coins flowing without a wait.
     
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