RE: Dear Diary: My Bitcoin Online Mining Is Not Returning In Investment
Sorry to hear that @cryptopie and yes, ROI on Bitcoin mining is very difficult when it comes to bitcoin for bitcoin ROI. Hopefully the price picks up in time for you to maintain your contract and not lose out.
I used to mine many a moon ago, and eventually realized that mining would be a never ending battle for more hashing power.
As bigger money came into mining, it became less and less profitable until I finally sold off all equipment. That is why today I advise many people to stay away from direct personal mining when they tell me they want to mine Bitcoin. As for cloud mining, it provides slightly less financial risk than mining yourself, but at a less profitable margin and sometimes no profit either. The beauty of cloud mining is that should it fail to make profit, you don't have to worry about electrical bills, loud fan noise, extreme heat/cooling or selling equipment that is obsolete.
Yes @streetstyle but in Hashnest you can liquidate your hashing power via their own built-in market while in others you just have to rely on buying more and more hashing power. Buy and selling Hash power in hashnest is the way to profit but I didn't do that for the confidence that BTC will continue to rise but it didn't.
Thanks for the info @cryptopie I did not know about Hashnest. Maybe you can blog about how that works so I can learn something. And as far as Bitcoin, in my opinion, I think it can go back up maybe to $10k but that is just a guess. There is still a lot of interest in Bitcoin from what people call "big" money in cryptocurrency. I think the last run up to $20k was from a lot of regular people trying to cash in.... and when some took profits, it scared many "weak" hands out causing it to drop. So far Bitcoin is still doing well compared to last year's prices and seems to hold between $6k to $6500 after testing these prices several times. This bodes well for Bitcoin if can stay at these prices until the next leg up.
Just one more rant, if I may Cryptopie, and that is that try to always take a small profit off the table when possible, and do so often until you recover your initial investment. I'm sure you already knew that but just thought I'd throw it out there. Have a good day my friend, and I await your blog on Hashnest.
Yes Sir @streetstyle it is just easy to start cloudming at Hashnest. You just deposit LTC or BTC and buy hashing power at the market plus they also have an exchange there as well for BTC-LTC and BTC-BCH.
Hashnest is owned by Bitmain the maker of Antminers.