Why Bitcoin Mining App is not Sustainable

what is up ladies and gentlemen welcome back to the brandoncoin YouTube channel I hope everybody's having a great day and I figured I would make another video because I keep getting so so many questions asking is the Bitcoin mining app a scam how does it work what is cloud mining is it a you know number one thing is is it real is it legit is it a scam and the first thing a lot of people you know I'll see in my comments section is I I've been able to withdraw it's not a scam I've been able to to withdraw and a lot of people from the industry that have been here for a while and been in crypto you guys know that just because you can withdraw from it doesn't mean that it's not a scam uh bitconnect was a famous famous one uh it wasn't a cloud mining operation but it operated under the same pretense in my opinion so the way it worked is essentially you bought into a uh a contract or an interest or some kind of situation some kind of some kind of contract and then it would make money over time and you could withdraw that money uh but it was unrealistic so the one thing that is unrealistic about the Bitcoin mining app these contracts never expire so you buy it and then my cat's getting on the camera um once you buy your contract you own it forever so you own that hash power forever that's not realistic um for example if you go on and buy let's just run some numbers if you buy the 200 gigahash Miner it is $9.99 $9.99 and it's actually on sale 9% off it's always on sale by the way it's never off of sale but let me type this into a calculator and $9.99 actually generates 11 Satoshi a day okay 11 Satoshi a day what is a Satoshi worth 11 Satoshi is worth about a penny actually slightly more than a penny so that means that $9.99 would take how long to pay off ladies and gentlemen so 9.99 / .01 it would take 9 no yes 999 days yeah because times 01 math math it's not my strong suit anyway um so yeah 999 days to pay off that that contract and then from then on forward you're always making profit you're never losing uh not a sustainable business model so let's let's scale it up a little bit here um for right now I actually invested a little over $150 in and I'm at 8.43 terahash by the way I do not suggest buying into these contracts if you don't have money to burn because they could disappear tomorrow they could be gone and you'd never get paid out on everything so that's why hold on sorry about that got a quick little phone call um but what happens is they disappear or get off the face of the Earth and you can't do anything about it before your contract pays up so they might pay you out $3 $4 $5 on that $9 contract and then they're gone so what did they do they pocketed that money now they can stay open as long as people keep buying called a pyramid scheme now it's never a good idea to drag people through the mud but I just want people to understand that in this situation it's not sustainable it doesn't work it doesn't compute um now some people have expressed to me that oh if you go to their FAQ section they actually have maintenance cost and and stuff built into what they pay you out um well if you go over there the only issue with that is so at my 8.43 terahash of mining power that I have bought and get paid out daily I make 463 Satoshi a day I'm supposed to be earning 480 if there was nothing cut out of that so they are cutting out less than 20 Satoshi they're cutting out 17 Satoshi a day so that means they're cutting out what like 1.7 cents of my Revenue a day to pay for these maintenance costs it doesn't it does that you know that dog don't hunt that boat don't float whatever you want to say um it don't work it don't work so right now I'm making about you know 48 45 cents a day give or take depending on the price of Bitcoin right now price of Bitcoin is pretty high um so I took a gamble at it and I invested into this Bitcoin mining app the cloud mining program for content and to kind of like see like will it actually pay out what about when I get up closer to my threshold um will it do withdrawals and so far I mean it has it has proven to be a no issues but that doesn't mean that it couldn't not have issues tomorrow so I just want people to be realistic and understand that just because it's not a scam today doesn't mean it can't be a scam tomorrow and Cloud mining for the vast majority of crypto uh has been unfortunately tainted by some bad apples now there has been real Cloud mining operations and I'm not referring to them somebody was like what about mining rig rentals totally different you're actually renting real Hardware um but that brought me up to another good conclusion here is PE uh if you rent out Hardware or you rent out mining power remote mining power Cloud mining power uh it's not realistic for you to get paid out the exact same amount of crypto per day so right now I've have been generating 436 satoshis every single day day in day out if this was a real minor that I was renting or a real contract that I was renting it would be varying because there's so many variables that go into mining crypto and Mining Bitcoin mining anything um I would not be getting the same amount of Satoshi a day so do what you want with this information am I going to be continuing my journey on checking out trying out and reviewing these apps I will be but I just want to make sure people are informed as they go forward and don't dump any money in if you're not willing to uh pay the consequences so to speak so if it disappears 2 months from now we're going to be having a Kumbaya video and just being like dang dang told told you so told me so told everybody so it is what it is but uh if you do want to continue and show not only your results but look at other people's results see what other people are making uh I just made a cloud mining section over in our community Discord the jellyfish coin community and you can join up in there and I'd love to see what you guys are earning and are able to withdraw uh and then reviews on any other apps you found out that you want me to to check out because I get tons of comments on YouTube but YouTube automatically blocks uh links and anything like that so uh join over there and um let me know so anyways that link for that Discord will be down below in the description I really appreciate it guys yall have a good one and uh say bye kitty cat he's sitting in front of the sitting in front of the computers trying to stay warm all right guys y'all have a good one adios

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