Can you lose money bitcoin mining
So on average we lose about Let's indeed have a look at that, and assume the value will rise and not drop. In fact, let's make it even better: The contract will then last a bit longer, 76 weeks. See the updated table below. We would have to compare that to straight up buying Bitcoin for USD.
This would give you 0. When the price of 1 Bitcoin rises to 3, USD again, you would have I tried recalculation with a higher price of Bitcoin to see when mining would be profitable.
As soon as the price of Bitcoin gets around 3, USD, the contract would be profitable. You may have heard that before, but now you have all the calculations to know for sure. I hope this helped you to find out whether Bitcoin cloud mining is for you. If it did, please like and share so it can help others too! Losing money on Bitcoin cloud mining? Have a look at the data and judge for yourself! Doing the math Time to crush some numbers. So when will that be?
Let's look at the second image. So what did mining bring you after your contract expires After 58 weeks, around the time where your contract wil end, you will have gained Sure, but Bitcoin will keep rising in value!
Authors get paid when people like you upvote their post. Let's first find the total income per day. I currently get 0. I know that the maintenance cost is 0. Since I know that this translates to 0. So at some point, the mining will stop because it costs more than it provides income. The first column shows the 0. The next column shows the maintenance cost which is fixed and will be deducted from your mining income.
This leaves you with a total of 8. This repeats every 2 weeks again: In the table, you see that after 58 weeks your costs become higher than your income. After 58 weeks, around the time where your contract wil end, you will have gained We paid USD to get the contract in the first place.
So on average we lose about Let's indeed have a look at that, and assume the value will rise and not drop. In fact, let's make it even better: The contract will then last a bit longer, 76 weeks. See the updated table below. We would have to compare that to straight up buying Bitcoin for USD. This would give you 0. When the price of 1 Bitcoin rises to 3, USD again, you would have I tried recalculation with a higher price of Bitcoin to see when mining would be profitable.