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RE: The real truth about cloud mining and the scammers trying to sign you up with their affiliate links. by marcusorlyius

View this thread on: hive.blogpeakd.comecency.com

Viewing a response to: @uvas/re-marcusorlyius-re-uvas-re-marcusorlyius-re-uvas-re-marcusorlyius-re-uvas-re-marcusorlyius-the-real-truth-about-cloud-mining-and-the-scammers-trying-to-sign-you-up-with-their-affiliate-links-20170813t212138502z

· @marcusorlyius ·
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.
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@uvas ·
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.
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@marcusorlyius ·
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.
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@uvas ·
I have stated several times that I am too stupid to do maths. Are you unable to read?
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