Avoid cloud mining

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1 BTC = $34171.66 USD  (via Coinbase)
1 ETH = $1938.34 USD  (via Coinbase)
1 LTC = $132.00 USD  (via Coinbase)
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Kryptous

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I took the plunge with Genesis Mining after a bout of foggy minded greed. What they describe as "risk" is in fact a completely unviable proposition.

I sank $700 into 5 terahash mining power. My yield in over one month is about $73. This is after the rise in the price of BTC over the last month.

Unless BTC appreciates markedly in the next 12 months, I am unlikely to recoup my principal. That becomes even less likely with the hash rate growing at a pace.

Am aware of skeptical views about its model, but ignored them thinking it was worth the plunge. As of now, it seems the skeptics have a point.

Would have been much better buying $700 of BTC outright…

submitted by /u/TheLazyNative
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Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Ticker

1 BTC = $34171.66 USD  (via Coinbase)
1 ETH = $1938.34 USD  (via Coinbase)
1 LTC = $132.00 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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