What's your opinion on Bitcoin Cloud Mining
0 sats \ 4 comments \ @bitoshimaniac 29 Dec 2022 bitcoin
I really want to know, what is your guys opinion on Bitcoin Cloud Mining. Actually, after I have stacked a decently good amount of sats then I plan to invest all those sats into a Bitcoin Cloud Mining website https://hashshiny.io it's a trusted website and not a scam.
In case you didn't know, Bitcoin cloud mining is renting hashrate using money(or crypto) and your Bitcoins will mine in the cloud(in the mining company's machines) and you will get the reward. I really want to know what your opinion is about this.
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0 sats \ 0 replies \ @BTCMiner 30 Dec 2022
a Bitcoin Cloud Mining website hashshiny[.]io
Do the math.
SHA-256 contract:
$ 0.50 PER 10 GH/S
Maintenance fee: 0.0004 $ / 10 GH/s / day
So for the two year contract: Pay hashshiny $0.50
Upfront cost: 3,035 sats Recurring cost - daily maintenance fee: $0.012 per month X 24 months
Receive in bitcoin, after 24 months: 2,228 sats (assuming difficulty does not go up, as that would mean earning even less in bitcoin)
Net profit (loss): 807 sats LOSS out of the gate, and then up to 1,750 sats FURTHER lost paying the maintenance fee.
I have a better idea:
You give me 3,305 sats, .... I will immediately return to you the 2,228 sats that is the likely max you would earn from hashshiny, and you don't need to wait 2 years for the last of that 2,228 sats to arrive. And bonus -- you don't need to pay any daily maintenance fee!!
Deal?
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0 sats \ 0 replies \ @BTCMiner 30 Dec 2022
Nearly always an OUTRIGHT SCAM.
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0 sats \ 1 reply \ @muteness11 29 Dec 2022
AFAIK such thing doesnt exist .... scammers are incentivised to come up marketable & buzz words to give the illusion its revolutionary so they manipulate people.
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0 sats \ 0 replies \ @bitoshimaniac OP 29 Dec 2022
I'm not saying it's revoutionary but you really can rent hashrate from reputable non scammy websites and earn a bit of passive income
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