In this article we will discuss the key factors of cloud mining. Pros and cons of cloud data mining cryptocurrency every day, as crypto is breaking records at a cost in relation to the US dollar. Cloud base mining versus physical mining. What is better?
At the time of this writing, you can not specify the exact value of cloud based mining. Price for cloud data mining daily updates their highs. What will happen tomorrow is impossible to say. What is known is that by the end of the year, many analysts predict the value of Bitcoin at a mark of 20,000 US dollars per coin, thus cloud based mining will be rather expensive. What will happen in reality, we know when this comes again. If you buy cloud mining powers you have to keep in your head that the prices of cloud based mining and cloud data mining are mostly based on GPUs cost but also on alternative profits from solo mining without selling the powers. Yes you can argue — but hey the price of crypto coins drops and jumps and is very volatile. And this is true — but really why they should mine for you if they can make more money if the exchange rate of cryptocurrencies is going up?
Actually cloud based mining and cloud data mining are great for convenient mining — we are going to discuss pros and cons later in this article.
In the last year, the cryptocurrency attracted a lot of interest cloud based mining. Prices are rising for the king cryptocurrency the Bitcoin, but also on all other forks. There is the market in this cloud based mining so you can find easily a lot of companies that offer mining powers to you. If a sober look at the situation, figure out all the pros and cons, then buy at the moment, Bitcoin is dangerous, it is now profitable to sell only and no cloud based mining is possible. Even regular mining.
The thing is that the Bitcoin daily updated its highs for the cost, and it was a sharp pullback, so no one knows, and can not know whether Bitcoin will rise again. But cloud based mining is still great solution to mine other cryptocurrencies. Check their price, availability — join cloud based mining and go go go! As for Bitcoins a rollback occurs at 100%, it is for sure very dramatic and devastating effect on traders. We can say that a lot of them suffered severe losses. Thus, all cryptocurrencies dropped in price it is still profitable to buy cloud mining.
Some of this can be concluded? The conclusion is that buying bitcoin cryptocurrency currently not profitable, it is worth it is expensive. But it is profitable to buy cloud mining. Because after the rollback, which happened, the price of Bitcoin dropped to 8750 USD today limits. After that, Bitcoin will stay in place for some time and once again begin to rise to historic highs. He will strike them or not? Of course, the strikes what price of Bitcoin will be the next time? Definitely higher, perhaps several times. But cloud based mining is still the profitable solution — go for it. Now we are going to discuss cloud based mining and cloud data mining in depth.
What is cloud based mining? Cloud based mining (from the English mining) — the activity of maintaining a distributed global platform and the creation of new units with the ability to earn rewards in the actual form issued by the currency and also some fees — remotely, and you can also buy cloud mining powers or computers for yourself.
This use of the computing graphic card GPUs power of your computer leads to cryptocurrency production. If you buy cloud mining than this means you are using global company computer for generating cryptocurrency.
Today cryptocurrency attracts large number of computer users. This also means that cloud based mining and cloud data mining will become more and more popular. To allow opportunities for mining cryptocurrency buy the whole farm that is also called rig. Not to be confused with the farms for breeding and breeding animals! Although the total of cloud based mining and cloud data mining is still there — the receipt of income. In our case, the receipt of income comes from the production and sale cryptocurrency on special exchanges cryptocurrency.In general, all the miners are divided by one reason or another in the two camps:
The first — those who Mine on his own computer hardware. Second — those who buy cloud mining power on the side — cloud based mining and cloud data mining.
This separation occurred for the reason that not everyone can afford to spend a large sum at once for the purchase and assembly of farm for mining. Amounts for the nice farm, today starts a minimum of 2 000–8 000 dollars. For example the home farm on 5 video cards for mining cryptocurrency Ethereum (ETH).
Farm for mining Ethereum (ETH), with a capacity of 110 Mh/s. Those who are not able to buy and assemble their own farm, prefer to buy the power of the other computers on the side. As a result, like the first miners who mine for themselves, and at the second task: to extract as much as possible cryptocurrency. Limitation of production depends on the capacity of the computer. But in cloud based mining and cloud data mining the powers can be extended if needed. The more powerful the computer, the more it will produce cryptocurrency, for a limited period. Power is considered to be in the h/s — hash per second, Kh/s — kilohash per second, Mh / s — megahash per second, Gh / s — gigahash per second, Th / s — terahash per second. You can get those powers only if you buy cloud mining (cloud based mining and cloud data mining machines).
If you can not compile and run at your own rigs, then you can buy cloud mining power on the sites that provide cloud based mining and cloud data mining machines, which will be mentioned below. These are special sites that specialize in selling power of entire servers. Minimum purchase capacity starts at 100 Mh/s. For example cloud Mining server can mine efficiently on cloud based mining and cloud data mining.Cloud based mining and cloud data mining provide such services, you can buy cloud mining at the moment on a huge number of websites. Today there are many sites that offer to buy cloud mining (the purchase of its capacity for mining) cryptocurrency. Let’s look at the most famous sites. We weigh the pros and cons of cloud Mining against cryptocurrency of mining on their farm.
As mentioned above, there are many sites that offer purchase and sale of power for mining cryptocurrency.
Suprnova — pretty popular pool for production of various altcoins finally launched a pool for production Ethereum, which is rather good news. You can address them and buy cloud mining there. Since this is the only pool (except the official), who does not belong to the anonymous, which means that each pool can be trusted, and also offers a familiar interface for many miners, however, registration is required.
From this cloud based mining and cloud data mining pool we can expect a good performance, quality of service and reliability. At the time of writing material pool speed is hard to even calculate 13.4 Ghesh/s. Payments are available in both automatic and manual mode. The minimum amount to pay 0.01 ETH. Fixed withdrawal of the only 0.001 ETH. Commission pool is 1%.
Pros and cons of cloud based mining and cloud data mining. Comparison.
Cons of mining compared to cloud based mining and cloud data mining:
1. Requires solid investment to start mining
2. Required equipment room.
3. You need good cooling equipment.
4. Monthly bills for electricity
5. You have to know how to operate a rig or the whole farm! It is necessary to understand what you’re doing.
6. Hardware malfunction.
7. Serious costs to increase power of the farm. Practically impossible.
8. There is no downtime. Your computers have to work 24/7 — this is lots of noise
9. Possible downtime. If your computer stops mining tha it is not making money.Pros of cloud based mining and cloud data mining:
1. Minimum investment in cloud mining major investments at the initial stage.
2. You do not need the room.
3. No bills
4. We do not need the knowledge to set up and maintain the equipment. This is done by engineers on the mining factory.
5. It is not necessary to control the operation of the equipment.
6. There is no hardware failures.
7. Equipment will never break.
8. The equipment never becomes obsolete.
9. Cloud based mining and cloud data mining cannot be hacked.
As usual, in conclusion, I would like to emphasize, that this is a personal look at the overall picture of cloud based mining and cloud data mining cryptocurrency. The were no objectives of the predominance of the cloud based mining and cloud data mining over regular hardware to create and use their farm. The task was to reveal all the pros and cons if you ant to buy cloud mining and carry out the necessary comparisons. Today, many miners, at the same time combine both types cryptocurrency production — buy cloud mining and build regular farms. But not everyone, for some reasons, it is possible to assemble their own currently the farm for some miners so they prefer to buy cloud mining.