Beware of Mining contractssteemCreated with Sketch.

in cryptocurrency •  last year

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Back in March I decided to launch into crypto full scale. A mining contract seemed like the perfect introduction into this new world.

At the same time I put a mining rig together.

It has become quite clear that the mining rig was the better investment. My payouts from the contract have dropped from every day to now only every three days. At this rate, the increased difficulty may prevent me from making back my investment.

We are now well past the time when mining is cost effective. If you are planning on getting involved, create an account on a reputable exchange and just buy in.

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Everyone is about to get plucked from these!

At least, with your mining rig once it becomes unprofitable you can just enjoy sweet 3D games :)

Not so with a mining contract I'm afraid... only made back about 45% of my initial investment.

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I'm turning it into a DCP (Digital Cinema Package) authoring machine :-). I may also turn it into my primary film editing system.

yah the only thing will save your investment is the valuation of bitcoin, but that is relative because would be better to just sit with the money.
The only way you can make it profitable would be by componding but as a big risk too that in the end you get 0$.