how's your electricity cost for running minergate or your mining rig? for hashflare, isn't it more profitable for them to keep what they mine instead of renting it out to you for a lil fee? cause shouldn't they make more money from mining rather than renting out the hash power? why is it more profitable to them to rent it out to you?
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With Minergate, I am running basic hardware. Couple of laptops, my phone and my tablet. The power cost for these units are extremely low, even though my median cost per kw/h is around $0.15. I am reinvesting my revenue generated in buying hash power within the cloud that costs me a fraction of my power and there is no upfront cost.
Hashflare revenue has also been reinvested, and I am currently "renting" about 3 TH/s, similar hardware runs around $1,000 to purchase, many times without the PSU (Power Supply Unit). This is before the substantial cost of power, selecting mining pools, programming and maintenance.
With decent startup, around $1,000 or so, a Ether mining rig can be assembled and ROI seen within a year, but many beginners just don't have the desire, patience or knowledge to do that. I am currently launching my own 4 GPU mining rig this week after about a month of research and gathering hardware that continues to be inflated due to the "mining craze".
nice. please keep us posted on that mining rig. so there's minergate cloud mining and hashflare cloud mining. which one do you recommend. i'm just looking for simple service, affordable, and positive ROI
hey jacob do you have telegram or something i can connect with you to ask about your cloud mining?
You can chat with me through the steemitchat I believe, or connect with me on facebook
I tried to find you on steemit chat, no luck. :(
cool i just joined steemitchat. do we get steem on this?
No, I o not believe so. However, it is a tool for direct communication and networking.