Given that you think you're too stupid to do the maths (which would explain why you think cloud mining is profitable), post you're details and I'll do it for you.
You wont do this though because you know what I'm saying is true.
You are viewing a single comment's thread from:
Sorry, I am also too stupid to post details.
But I will post that so far I have mined 1/3rd the amount of coins I would have been able to buy on the day when I started 3 months ago. At this rate I will mine more than I could have bought around the 9 month mark. It will certainly take longer though, taking increasing difficulty in to account. Time will tell.
Cheers.
Do yourself a favour and look at the link I provided.
https://steemit.com/bitcoin/@marcusorlyius/thinking-about-purchasing-a-cloud-mining-contract-you-ll-change-your-mind-after-reading-this
The table shows that you would have earned about 30% of what you paid for the contract after about 3 months. It also shows that the contract becomes unprofitable after around 300 days and the total amount earned is only 45% of what you paid. That's with a 5% difficulty increase each round. Over the past 3 months, the difficulty has increased by 65% which is an average of about 11% each round.
You are massively - and I do mean massively - underestimating the effect of difficulty increases and you don't stand a chance of mining more than you could have bought. You can choose to believe otherwise if you want but you'll only be fooling yourself - making it more likely you'll buy more hashing power and lose even more money.
If you provided the details I asked for, I could have provided you with projections more specific to your circumstances.
I am so glad you are out here to do maths for me. I only wish I could somehow make projections myself.
Sadly, I am too stupid.
You've obviously made an error somewhere in your calculations if you think you're going to mine more than you paid for the contract. Any sensible person would show their maths to see where they had made their mistake rather than assuming that they're too clever to have made such a mistake.
I've proven to you that with a 5% difficulty increase each round , a 15Th/s contract would only mine 45% of the cost of the contract. I've also explained to you that over the past 3 months, the average difficulty increase per round has been about 11%. With the way the bitcoin price is increasing, I wouldn't be surprised to see 20% difficulty increases in the near future.
If you want to ignore the evidence I've provided, pretend that your calculations are correct and that you'll mine more BTC than what you could have bought then that's your choice but it only makes you delusional. It's not going to change the fact that you've been ripped off.
It's truly sad when victims can't admit to being victims as it dooms them to repeat the same mistakes rather than learning from the experience.
I have stated several times that I am too stupid to do maths. Are you unable to read?
I don't need you to provide me with the info as I found this post of yours:
https://steemit.com/finance/@uvas/i-decided-on-bitcoin-contract
So, with regards to Bitcoin you've got 15Th/s just like in the example I provided. Congratulations, you're going to get back less than 45% of what you would have got if you just bought bitcoins.
When you were telling me that you can't do maths I thought you were just being sarcastic but no, you were being absolutely serious and you quite clearly can't do maths.