Bitcoin Forum

I'm looking at all of the main cloud mining sites and most of which have fallen, will fall or are ponzis, so my question is, does cloud mining actually exist?

I think only hashnest is genuine, all other who don't give proof of mining(maybe they are scam even if they give the proof), are ponzis trying to seperate you from your btcs.

It does exist but nowadays it's hard to say who is legit and who is not, even if they show pictures of operations, they mention who supplied miners, still who knows if they really are operating. Best way is stay away from those cloud mining sites.

Hashnest shows proofs of mining so its on the top and now genesis has joined it by showing some of the videos installed at their location so currently these two seems believable but don't expect speedy ROI's as they take long time.

So really, just stick to bitmain for cloud mining as that seems the most trustworthy wth hashnest and PACMiCs

Depends on the site sadly a LOT of cloud mining is just a scam.  I like to ask what machines are powering it you will find most ponzi's will not discuss machines.

But do your own research and make up your own mind.   I personally have 2 I have invested small amounts in.  Vast majority just don't provide any info.

Yes it does exist.

 Now you need ask yourself can I make money on it?  maybe yes maybe no

How much can I afford to lose?

As for my pick for you  buy a little bit from bitmaintech.

https://bitcointalk.org/index.php?topic=1151727.0;all


I have 9.99 btc and that got me 15th  I have been paid back about 1.355 btc.

  If I continue to be paid back my 9.99btc should grow to 10.4 btc  as you can see not a big profit.

Still though a little income from passive is pretty nice.   Compare that to a savings account you will make less interest then cost of living increase.

So .4 may seem small but compared to traditional it is a pretty good passive income.

yeah it should take 85-100 days   so over a year the income would be 1.2 to 1.6 btc or 12-16 %

beware of ponzi cloud mining scheme.
i have fallen from then once, and i need to warn you not to invest in cloud mining if you suspect the system isn't actually mining for you.

Price of Bitcoin is down compared to the old days where cloud mining is feasible because of the exchange rate of Bitcoin. Electricity in any country is not free unless they run the operation using solar power. So electricity bill will be paid using the money of investors. Plus the manpower which also needs to be paid coming from the money of investors. Now with all those in mind, there is a huge risk for cloud mining operators to loose money. That's why there are more scam cloud mining than those legit ones.

hashnest.com and bit-x.com are the only 2 i believe that are legit cloud mining sites

Theres only a few there are actually around because they produce asic miners at the same time.

So I would stick with those services like hashnest, or take a smaller risk with genesis mining since they do accept credit cards.

If something does go bad you can do a possible chargeback if you need to do so.

Is that profit worth potentially losing it all in what has historically been a very risky field of investment? There are a lot of investment opportunities outside of cloud mining, why take the chance? Investing in a Bitcoin start up- like Augur for example, would earn a much greater ROI with a much smaller risk.

Its all on the indivuals tolerance of risk which boils down to it pretty much.

The way I see it, if the value right now is low for bitcoin, its a good time to risk less to test the waters since if it does go south the loss wont be as bad.

You can withdraw your  original deposit from a savings account.

It does not make sense to run a legitimate cloud mining operation that is profitable for the users. If the miners are profitable they should just run them and collect the coins. If they are not profitable it doesn't make sense to pay the expenses of running the miners.

If they are going to take x btc from you and run miners and send you back less than x they aren't smart enough to hold my coins.

A handful of cloud mining providers are legitimate, most of them are not.

There are various topics on this forum discussing which ones are legitimate so you might want to start there :)

My answer is no. Having two experiences which has finished bad with such kind of sites and seen any others finished after 4-6 months such answers is obligated. Maybe is someone which is safe but the price offer by those are so high as it can tell for sure that someone who might join can't arrive never break even and profit.

The most of them are scams, cloudthink.io went scam and many others, only 2 or 3 are legit(hashnet, bit-x i know for sure are legit but they all can end up i to a scam).


Regards,
Joust

Hashnest seems the least likely to become a scam becuase you provide them to money to make more bitcoin miners and as a result, they give you all of the income from that bitcoin miner until they have atleast paid back you ititial deposit. So you are bsically just renting a bitcoin miner andpaying for its power while your deposit gets paid back.

You can still buy from hashnest  your own S5 miner .

AntminerS5

Price: 379.0 USD(1.66293639฿)  Stock: 1267

https://www.hashnest.com/hash_currencies/24/shop

PACMIC is not cloud mining.

Can they be bought with bitcoin as usd is not my native currency.
That seems very reliable as they take a maintanence fee as well, can you buy s5+s?