{ "media_type": "text", "post_content": "Any thoughts on buying an ETH mining contract vs just buying ETH from an exchange? I guess that would depend on what you think ETH will be worth in say 1 year?", "post_id": "58e9366dc7e7df0016e2be53", "reply_count": 13, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

Any thoughts on buying an ETH mining contract vs just buying ETH from an exchange? I guess that would depend on what you think ETH will be worth in say 1 year?

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Ac1, the ones I'm experimenting with give you a daily payout once you buy in for a set period of time

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@OP how does that all play out/could you explain further? Ive been a holder of ether but never considered mining as I don't believe the economics works out with electricity costs in Chicago.

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@Op what are the parameters of period time/principal investment. You're basically getting equity in a mining rig and get a negotiated payout correct? I don't understand why they have a need for more investment if they are operating profitably. Why would they take on more equity holders when ether is more profitable than ever to mine

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Just buy it. Unless you live in an area where electricity costs are super low to justify mining.

How does an eth mining contract work? Basically getting equity in on a pool or mining yourself?

I should clarify what I meant, I mean a cloud mining contract where someone else mines, (ie Genesis mining), not me building a mining rig myself

So I'll try to type out a more detailed response when I can later on today but essentially you are paying a fixed one time fee that goes towards the costs of electricity, hardware, etc, that gets you payouts every day. Check out the FAQs at genisis minings website

I'll get back to you on my numbers etc in a bit

Sounds good. I'll do a little research as well. It may make sense in present time since electricity price obviously has stayed the same while ether price has skyrocketed. Therefore the margin on mining has increased substantially. So on your investment you're getting ether at a value of $45 today. Whereas if you bought ether today you have no gain and risk pullback. I'm pretty proficient in technical analysis. This rise to 45 has been compelling but the chart of ether looks like more downside and Bitcoin chart looks pretty bullish. A rise in Bitcoin will exacerbate ether downside

So you think 45 is a ceiling for ETH?

I don't call ceilings and floors. I just trend follow and identify support/resistance levels and those provide an edge on when to buy more or take money off the table. It was high probability ether was going down when it broke ~48 so many of my friends were able to take profit and there was positive indication ether was going to fly in Jan/feb time so we were all about to make substantial investments between $11-14. This $45 jump was good to see but short and intermediate trend on ether is down. I'd expect it to test support at 42 and likely trade down to 38

Time will tell tho and positive action like yesterday could provide reason to reassess

@Op I should have clarified, I'm extremely bullish ether longterm. I wouldn't ever sell more than 25-40% of your position to make a position trade of selling at an intermediate top to buy lower because this asset can turn around and jet high any given day

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