I don't get it. How it can be profitable even in theory? F.e. if someone has a machine that earns say 2$ per day, why would he want to lease this machine for 1$ for some stranger and give him this 2$ if he can just run this machine for himself and take the whole 2$ in his own pocket?
-
3I think you've answered your own question...– chytrikCommented Jun 29, 2018 at 23:34
Add a comment
|
1 Answer
Intelligent people ask intelligent questions.
Indeed it is true that if a particular setup can profit $2 per day there is seemingly no sensible reason to lease it out for $1 a day when you could have the $2 a day yourself - it would make more economic sense to lease it out for $3 a day.
From another perspective, someone who wants to mine can forgo the initial outlay for mining equipment and hire mining power for a fee. It is possibly not true, also considering the cost of running the machine, that leasing mining power may be more cost effective than purchasing and housing mining equipment yourself - most high-power mining equipment is also quite loud. It is still to consider that the equipment you lease may have lower costs for power and cooling than you could provide.
-
Only retard would want to pay 3$ for machine that can earn only 2$ for him) Opposite is also true - who would want to lease a machine for 1$ that can earn 2$. The only point on this line where nobody lose anything is lease this machine for 2$ which absolutely has no sense except heating the atmosphere. Which is very stupid and nobody would want to make this without profits. The conclusion - ANY cloud mining farm is a scam including Genesis Mining. It's just a tricky way to steal money from... well, retards. Very cool although =)– m8labsCommented Jun 30, 2018 at 10:56
-
2