Ive done a lot of research on minning and from what ive learned depending on location amonst other things it is generally only fractionally cheaper to mine than it is to buy. Especially when prices are low. Any thoughts or comments?
Ive done a lot of research on minning and from what ive learned depending on location amonst other things it is generally only fractionally cheaper to mine than it is to buy. Especially when prices are low. Any thoughts or comments?
It depends on the equipment you have and the coin you're mining. Right now the combo of the Antminer D3 and Dash coin is the most profitable. So, at this point - it's most efficient and least difficult. This is of course, only applicable to the small scale miner in this example. There are similarly priced mining rigs that take 100-200 days return on investment - at the same price as the D3 which mine ETH, BTC or LTC.
Right now, the D3 returns in a month or two. Not when people are selling them for $10k though! This may be a transient condition. I researched back in June and found hardware mining vs cloud mining wasn't worth it. One thing to think about is that even the used past model miners are selling on eBay for more than what their owners paid. Also, as the coins increase in price, either cloud or hardware mining will be more profitable of course.
As a follow my previous cloud mining articles- (Genesis) - from my $350 cloud mining investment in June, I've gained a 10% return. So I'm looking at about 10 - 12 month returns on investment from Genesis Mining.
Hope this helps. The D3 is gonna go up fast and come down fast. So a few people will make a quite a few bucks before the end of the year!