RE: $16,000 profit by Crypt-O Lake

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$16,000 profit by Crypt-O Lake

in bitcoin •  7 years ago 

WARNING: If you sign up for a cloud mining service, you will lose most of your money as explained in detail here.

As mathematically proven in the above link, if you buy a 15Th/s contract and with a 5% difficulty increase each round, you would only receive 45% of the bitcoin from mining compared to just buying bitcoin directly. And that's just with a 5% difficulty increase per round. Over the last 3 months, the bitcoin difficulty increase has been around 11% on average so you would receive even less than 45%. Also, given the way the price of bitcoin is rising, you can expect even greater difficulty increases further reducing the amount you would mine.

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This isn't cloud mining tho... It's smart contract's... correct?

The affiliate link below the video is for genesis mining.

Ah, I see.