RE: Cloud Mining 101 🎓 Making Money with Nicehash, Hashflare and Hashing24 💲💰
@davidhay thanks for your awesome videos! They really helped me to gain some ground in the vast cryptospace :) I pretty much agree with your point of view regarding Cloud Mining. From the perspective of having a free market and decentralized mining, I also consider nicehash to be an awesome idea. Unfortunately, I came to the conclusion, that due to the free nature of this market, people tend to pay way too much for hashrate. 1 MH/Day of CryptoNight for example is currently ordered for up to 0.3560 BTC, but would most probably only yield 6XMR (optimistic estimate). What is the idea behind mining 6XMR for 0.3560 BTC, when I could buy it for less than half the price (0.16677 BTC for 6 XMR) on binance? Or is there a mistake in my thought process? Have a nice day! Cheers