Cryptotips George Shnurenko

Cryptocurrency Cloud Mining vs Hardware Mining- Which is More Profitable?

💡 Cryptotips
The battle of cloud mining vs hardware appears to be in favor of good old hardware mining
Cryptocurrency Cloud Mining vs Hardware Mining- Which is More Profitable?

Bitcoin, Ethereum, Litecoin, and other less popular altcoins are now generating an immense level of buzz among crypto enthusiasts and this has caused the adoption of different cryptocurrencies to surge. Although the concept of mining coins is very appealing, there’s often the debate about which offers more profitability, cloud mining or hardware mining?

To really drive the point home, let’s understand what mining is all about.

What is cryptocurrency mining?

Before a cryptocurrency transaction can be carried out, it must be verified on the Blockchain network.

The process of validating the transaction on this network is known as mining and those in charge of the operation are referred to as miners.

As easy as this process sounds, it is a lot of work. In order to mine, a software which is able to compute cryptographic algorithms is required and to complete this, an enormous amount of computing capacity is needed. At the inception, mining was done on personal computers, but now, individual computers do not suffice.

And this is one of the drawbacks of hardware mining. It is quite expensive and almost impossible to execute individually. However, cloud mining is fraught with fewer risks and doesn’t require an exorbitant amount to start up.

Since the issue of money appears to be a pressing one. Let’s consider the cost of starting up cloud mining vs hardware mining.

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Cost of hardware mining

Hardware mining requires a significant initial investment. Some of the factors which influence the cost of mining are discussed below.

  1. Mining Rigs

  2. The hash rate of the Blockchain network

  3. The cryptocurrency being mined

  4. The cost of electricity

  5. The cost of cooling

  6. The physical space

The list goes on and on. Also, depending on how powerful you want your mining operation to be, the cost can go up significantly. Do you require an ASIC mining rig? One thing you’ll need to consider is that these cannot be repurposed. The implication is that if the cryptocurrency you mine decides to alter its hash algorithm, that signals the end of the mining rig.

In addition to this, most people start out with multiple mining rigs so as to justify the revenue they generate at the end of the day. You also need to consider the electricity cost where you stay and how much it’ll cost to cool your equipment.

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Cost of cloud mining vs hardware mining

In comparison to hardware mining, cloud mining appears to be simpler to compute. Some of the most popular cloud mining services, Genesis Mining and HashFlare, offer a monthly subscription model for users to purchase. This model is computed based on the cryptocurrency you intend mining and the hash rate of the network.

Cloud mining gained popularity simply because of the obvious limitations of hardware mining- only very few people can afford large data centers.

This new model then allows individuals to invest and purchase a part of a company’s mining power. Then, cryptocurrency is being mined without the issue of electricity bill, storage space or cooling equipment.

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ROI for cloud mining vs hardware mining Ethereum

The battle of cloud mining vs hardware appears to be in favor of good old hardware mining and the reason for this conclusion will be delineated shortly.

We gathered sufficient information from reviews, several online ROI calculators, and cryptocurrency fora and we were able to come up with a definitive approach to assessing the ROI of cloud mining vs hardware mining.

It was discovered that ideally, after 10 to 15 months of constant mining, a miner who deals in hardware mining should recover a significant portion of the amount invested and should move on to the profit-making period.

Considering the fact that there are areas where electricity costs are low and the weather is halcyon, the time it takes to recoup investment might be about six to eight months. One thing to note is that cloud mining vs hardware mining offers two different sides to the story.

While hardware mining is initial investment heavy, cloud mining is all about recurring expenditure. The cost of purchasing a two-year contract for cloud mining ETH is about $1,520 at 40MH/s while it is as high as $12,960 at 360MH/s.

The time it takes to break even was recently calculated to be almost 11 years for BTC. Genesis Mining for ETH even demonstrated a worse ROI. It was estimated that it’ll take approximately 25,992 days for an average person to break even.

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Advantages of cloud mining

In view of the seemingly unfavorable time it takes for the operation to become profitable, what are the positives we can draw from cloud mining?

  1. You can begin mining with very little knowledge about the Blockchain technology

  2. It is possible to start mining immediately you decide to. There’s no delay associated with purchasing the hardware or shipping cost.

  3. There’s no decrease in hash rate with time. This also means that environmental factors do not cause a decline in efficiency.

  4. The pool management system is automatic and doesn’t take up your time

  5. Cloud mining incurs very little additional maintenance cost. It only requires you to purchase a subscription model and stick to it.

  6. You can get a daily automatic payout if you desire.

  7. It’s easier to expand your mining operation by increasing your subscription model. This is unlike hardware mining where you are required to discard your old equipment and then purchase new ones

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Advantages of hardware mining

  1. Requires significant initial cost but eliminates recurrent expenditure

  2. There’s no way to fall victim to numerous cloud mining scams

  3. It is believed to be more lucrative.

Conclusion

Hardware mining vs cloud mining 2018 is one of the most talked about topics. This is a topic where experts and cryptoanalysts take different sides, arguing about the cloud mining vs hardware mining profitability. Whichever technology you decide to employ, you’ll need to devote significant time and effort to carry out more research.

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🕵️‍ ICO Watch Eric Eissler

Leadcoin Leads on Dive to the Bottom: Past-ICO Review

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So you’re tellin’ me I can buy your lead?
Leadcoin Leads on Dive to the Bottom: Past-ICO Review

Leadcoin doesn’t seem to be leading the way for much, with a CoinMarketCap rank of 635 and a token price that plummeted from $0.087 initial price on March 27, 2018 to the current price of $0.005! Almost a 100 percent drop in value.

Despite poor token price performance, Leadcoin did manage to raise $50 mln in a 10-day ICO during March 1-11, 2018, on the premise that Leadcoin will revolutionize marketing and business practices. Haven’t we all heard that one before?

So you’re tellin’ me I can buy your lead?

The premise behind Leadcoin, founded by Shmulik Grizim, is to allow the buying and selling of hot, unused leads between businesses.

Sellers get value for their unused leads, leads find the right solutions, and buyers can buy hot leads. Everyone wins.

The everyone wins scenario finds its way into so many Blockchain-based companies these days. Sure it sounds like a good idea, but so do a lot of things until they are executed or attempted to be executed.

At this point in time, the system is not live yet so, we are in that awkward period after an ICO, where a company is sitting on a ton of cash but there is no product yet.

Sometime in Q3 2018, which is just around the corner, we should expect to see the launch of the first node, Webydo according to the website with integration to Salesforce and Hubspot by Q4.

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Leader of the pack

Shmulik Grizim is the Founder and Heads up three other technology companies within the SaaS, web design and digital marketing industries. Grizim’s most recent venture, Webydo, is a patent-protected web platform with a global network of more than 300K users. Essentially, it's a cookie-cutter website building platform without using code. Grizim specializes in building new technology corporations from the ground up, constantly searching for solutions that promote the creation of a better web for all. So he is building up new companies, letting them get started and then moving onto the next project. He is a serial Entrepreneur with his sights always set ahead on the next project. Hopefully with his sights still set on Leadcoin taking off.

Why the sharp decline in price?

We wanted to learn more about why Leadcoin dropped so much after the ICO and asked,  “Since Leadcoin’s token entered the market, the price dropped hard and then has remained at a low level and has gradually been in decline, can you give some reasons to why this is?”

While it could be market conditions or lack of confidence by investors, we were unable to get a response as to why the token has been suffering such a hard time.

Nevertheless, investment sites have given Leadcoin a “bad” investment rating and some giving it an “E-”. Perhaps, once the first node is turned on and the network starts to function it will start to increase in price, or as so many times we have seen in the crypto market, Leadcoin might continue this dumpster dive further, let’s check back after Q4.

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Crypto Gags Heewon Jang

No Ripple News, We Just Remind You It Exists

Crypto Gags
Do you still invest in it ?
No Ripple News, We Just Remind You It Exists

Share it with your friends and don't forget to subscribe!

Сheck daily our Instagram: cryptosharq,

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🕵️‍ ICO Watch Eric Eissler

Past-ICO Review: Kin the One You Didn’t See Coming

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Seeking to take over the crypto economy with a messenger app, Kin is coming
Past-ICO Review: Kin the One You Didn’t See Coming

Social media plays a major role in the modern lifestyle and since the creation of Facebook people are trying to find ways to monetize the interactions on social media, either by selling users’ information to advertisers. This has become the world we live in with the Internet being an intermediary for almost everything we do now and social media plays a big part.

Enter Kik, a Canadian social-chat app that runs on Kin to create an ecosystem that rewards developers and creators on its platform with valuable incentives leading to a quality user experience without using advertisements. Let’s look at the financials before we dig deeper into the technology.

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In Black or Red it’s Hard to Tell

Kin ran a 14-day ICO from Sept. 12-26, 2017 and amassed an astounding $98 mln! It has a market cap of $144 mln and circulates 756 bln tokens out of a limited supply of 10 tln tokens. The current price per token is $0.000191 up from the introductory price of $0.0000093, which is about a 93 percent return on investment if you would have bought during the initial release.

ERC20 to change to Stellar

In an interesting turn of events, the ERC20 Kin token will be shifting over to the Stellar Lumens Blockchain. This was announced late in 2017 by CEO, Ted Livingstone. The changes have already started to appear. Kik Messenger has moved to fork Stellar while also developing its own Blockchain that would combine the best of Ethereum’s Blockchain as well as Stellar’s Blockchain to come up with a scalable proprietary network for Kin.

Trustless system to evolve

By using a permission-nodes based system, Kik has established a zero-fee Blockchain network that will eventually hand over control of the network to the users. This will be done by working with partners who will eventually own a large percentage of the trusted nodes. By this design, the development team at Kik hopes to develop a trustless ecosystem that truly decentralizes control of the platform. However, it should be noted that there is still room for error because if becoming a partner is based on holding a large amount of Kin tokens then there is a chance that only the rich. In terms of Kin token holdings, will be able to control the system and that is putting too much power in the hand of only a few which is a dangerous situation.

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Goal to be most used crypto

The Kik messenger app debuted in 2010 and has some 300 mln registered users, of which 40 percent are US teenagers, according to TechCrunch.  With a group of people that large, it would be easy for Kin to become the most used cryptocurrency, if you have 300 mln users interacting with each other every day.

It will be interesting to see how younger users use Kik and Kin in conjunction with the messenger app, as most younger people don’t care about crypto, they just want a cool messaging app so they can chat with their friends and send goofy dog-face photos. There will, of course, be some major usage but if the majority of the users don’t care about Kin, does this become an all-for-nought enterprise? Time will tell Kik and Kin make the changeovers from Ethereum to the Stellar Lumens Blockchain. Moreover, the rewards engine is a big factor that can have a major impact how people will interact with the app. When the rewards start getting doled out in Q3 2018, behaviors may start changing when users start making some money.

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📈 Pricewise Andrew Strogoff

Bitcoin, Ethereum, Ripple, NEO Make New Highs, EOS at Some Loss: Price Analysis, June 7

Pricewise
BTC/USD and the others establish new highs meaning the correction is still on. EOS loses a little
Bitcoin, Ethereum, Ripple, NEO Make New Highs, EOS at Some Loss: Price Analysis, June 7

Cryptocurrencies from the top 20 continue to establish new highs except EOS, which was unable to grow in the past 24 hours. This means that technical correction continues without any fundamental basis.

What are the reasons for this correction? First of all, traders and investors learn more about charts and how to read them. They have seen the support areas for different cryptos and started to buy them increasing positive volumes.

The second reason is that the others have seen BTC and its rivals to grow in the past several days and they also place long orders hoping to purchase cryptos at their lows as they think the whole industry is oversold in the moment of writing.

As for the interesting news, there is almost nothing to pay attention to except Vitalik Buterin’s statements on Blockchain technology. Famous Canadian programmer and Ethereum’s CEO has mentioned that Blockchain is unsuitable for governmental voting.

Bitcoin (BTC/USD) Price Analysis, June 7

BTC/USD Hourly

Bitcoin has added more than one percent in the past 24 hours meaning the currency pair still continues its upside correction. However, BTC/USD was unable to breach the green ascending trend line from below.

BTC/USD Hourly FIBO

Let’s have a closer look at what is going on the hourly chart. The flag pattern failed to develop as BTC price went through the support area at $7,565 on Wednesday. However, BTC/USD returned above this level later and continued to grow. Bitcoin has reached the next resistance area at $7,734 on Wednesday. What are the possible way for Bitcoin?

  1. Red scenario (bearish). The currency pair will move towards the closest support area at $7,565 and break it through targeting the next support area at $7,341.
  2. Orange scenario (neutral). Bitcoin will stay within the range limited by the support are at $7,565 and the closest resistance area at $7,734.
  3. Green scenario (bullish). BTC/USD will test the closest resistance area at $7,734 and break through this level targeting the next resistance area at 7,949.

Ethereum (ETH/USD) Price Analysis, June 7

ETH/USD Hourly

Ethereum has added more than one percent in the past 24 hours and established new local highs. However, the currency pair is still in correction. It is too early to say that we have a reverse of a midterm downside tendency.

ETH/USD Hourly FIBO

Let’s see closer what is going on the hourly chart. Ethereum formed a Flag pattern yesterday but declined later, breaking this formation. However, ETH/USD has managed to move higher again as it has found support at $596.08. There is another bullish flag currently on the hourly chart. ETH price is below the green ascending trend line. The possible ways for Ethereum are the following:

  1. Red scenario (bearish). ETH/USD will move towards the closest support area at $596.08 and break through it targeting the next support area at $566.90.
  2. Orange scenario (neutral). Ethereum will stay within the current range, limited by the support area at $596.08 and the closest resistance area at $626.66 without significant price changes.
  3. Green scenario (bullish). The currency pair will break through $626.66 targeting the next resistance area at $662.39, which coincides with the one retracement level.

Ripple (XRP/USD) Price Analysis, June 7

XRP/USD Hourly

Ripple has added almost two percent in the past 24 hours as the currency continues its upside correction to the midterm downtrend. XRP/USD has established new local highs but we can’t say currently that the correction has ended and we have a clear upside tendency as Ripple still fluctuates within the Fibonacci retracement tool.

XRP/USD Hourly FIBO

Let’s see closer what is going on within the Fibonacci retracement. The currency pair managed to test 0.786 retracement level, but was unable to break it out and reversed there. XRP/USD went upwards later on Thursday and reached 0.382 retracement level. It stays close to this position in the moment of writing. The possible ways for XRP/USD are the following:

  1. Red scenario (bearish). Ripple will move downwards through several retracement levels targeting 0.786.
  2. Orange scenario (neutral). XRP/USD will stay within the horizontal range, limited by 0.382 and 0.236 retracement levels without any significant price changes.
  3. Green scenario (bullish). Ripple will grow targeting $0.7013 resistance area, which coincides with zero retracement level.

EOS (EOS/USD) Price Analysis, June 7

EOS/USD Hourly

EOS has lost more than one percent in the past 24 hours, but the currency pair looks better than its rivals as EOS/USD still stays above the green ascending trend line. EOS develops its upside tendency, but has difficulties as we can see several downside corrections on the way.

EOS/USD Hourly Closer

Let’s have a closer look at the hourly chart. The currency pair has reached the closest support area at $13.45 on Wednesday but failed to hold this position as EOS/USD has started to grow towards $14.11 resistance area. The currency pair still stays there. The possible ways for EOS are the following:

  1. Red scenario (bearish). The currency pair will reach the closest support area at $13.45 and jump over it targeting the next support area at $12.80. There will be the green ascending trend line on the way.
  2. Orange scenario (neutral). EOS/USD will reach the closest support area at $13.45, but jump off it targeting the closest resistance area at $14.11.
  3. Green scenario (bullish). EOS/USD will move towards $14.11 resistance area to test it. If successful, buyers will be able to drive the currency pair even higher targeting the next resistance area at $14.69.

NEO (NEO/USD) Price Analysis, June 7

NEO/USD Hourly

The currency pair has added less than one percent in the past 24 hour. NEO/USD seems to develop its upside correction, but below the green ascending trend line. The currency pair fluctuates with no direction in general as it is unable to overcome las weeks highs.

NEO/USD Hourly Closer

Let’s have a closer look at the current situation. NEO/USD has reached the closest support area at $53.20 on Wednesday but later went upwards. It stays in the middle between the resistance area at $56.00 and the support area at $53.20. The possible ways for NEO/USD are the following:

  1. Red scenario (bearish). The currency pair will break through the closest support area at $53.20 and move lower, targeting the support area at $50.24.
  2. Orange scenario (neutral). NEO/USD will stay within this horizontal range, limited by the support area at $53.20 and the resistance area at $56.00.
  3. Green scenario (bullish). NEO/USD will reach the resistance area at $56.00 and cross it targeting the next resistance area at $58.03.

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Bitcoin Price Weekly Forecast For Sept. 3, 2018

Pricewise
Bitcoin chart breakdown- monthly to four-hour time frames
Bitcoin Price Weekly Forecast For Sept. 3, 2018

Let's start to breakdown step-by-step Bitcoin chart- what we got from the last month and what we expect from this week.

Monthly chart:

After the very messy and tough August, we got a decent candle close which will indicate some movement upwards! The monthly candle was almost(!!) a "Hammer" candlestick pattern, almost because if we want to see a correct "Hammer" then the body has to be 1/3 from the entire candle but at the moment the body is, let's say 1/2.5. So, not the correct one BUT at least we have a monthly close above the round number which is $7,000. When we combine these two things then we get a pretty solid candle close given that difficult month.

image

Weekly chart:

We ended August pretty well and we got a strong bullish candle from last week and it closed between the two strong resistance areas $7,286-$7,349. Currently, on the weekly chart, we could see that we have found a resistance from the EMA50! So, at the moment on the weekly chart if we want to go to higher levels we have to see a breakout from the strong resistance levels, we need to manage to break above the 50 EMA which works as a resistance.

image

Daily chart:

On the daily chart, we could see that yesterday's candle was of a very high volume and we tried to break through the historically strong resistance levels which are $7,286 and $7,349. Bulls managed to hold the price at least above the one strong resistance level which is a good sign and overall the bulls managed to hold the candle and the day on the plus side! Currently, we trade above the 50 and 100 EMA and if we look above us then 200 EMA is exactly on our target area which is $7,500

image

Four-hour chart:

On the four-hour chart, we could see that yesterday we tried to push the price above the strong area and we even touched $7,430 but the bulls can't hold the price above those levels.  After the four-hour candle closed, we got a "Gravestone Doji"/"Shooting Star" candlestick pattern which indicate bearishness but luckily the bulls catch the bears momentum and we didn't drop much after this candle! It shows that at the moment there are buyers who own control over the market.

Currently, the price is between the trendline which is pulled from wicks since Aug. 9, 2018, and a strong resistance area. Soon, we will get another move because the area between those levels is so small and we could make a "breakout" from either direction but the pressure is above because we have a death cross on the four-hour chart (a 100 EMA is above the 200 EMA) and this small area between those levels looks like an Ascending Triangle (bullish pattern).

 

...and now the resistances/targets above us:

As you already know from my previous topics, my target is $7,500, why:

* Fibonacci retracement 62 percent pulled from July 24- Aug. 14

* Round number

* Trendline since May 5 (pulled from bodies)

* Fibonacci extensions (entry point Fibonacci's)

* Round number and Fibonacci retracement level are just so identical!

* 200 EMA on the daily timeframe works as a resistance

This is the level where I want to see a new price action and from there I can change my short-term bullish bias to bearish bias and this area is also a nice sell opportunity if we see a correct bearish price action.

The last down-trendline:

In this area, we could see two last down-trendlines, pulled in the four-hour chart:

*Lower- The last down-trendline from the BODIES

*Higher-The last down-trendline from the WICKS

Definitely, those are my main criteria's. If we got a breakout from those trendlines then my bias stays bullish, if we got a bearish price action from there then my bias turns into bearish.

Summary:

Currently, I have a bullish bias till $7,500-$7,600 because we have several good signs that we might go higher than the current price. Definitely watch the round number area $7,500 and definitely watch the trendlines!

Hopefully, this helps you out a little bit to confirm your own analysis! Definitely, do your own research!

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