Bitcoin Forum

Alright before anyone yells SPAM – I really want to know the opinion,

I’m just starting to get into mining and signed up with CEX.IO https://cex.io/r/1/magicmustang/0/ (as you can likely tell from my user id) which connects to Ghash.io pool. From what I see it is the biggest pool around.. and the sign up was free. I was able to convert my NMC I earned from BitMinter into a very small amount of hashing power (about 2GH). From what I have seen this is the only place I can do that at.

So my question is what is the issue with cloud mining? Anyone have any bad experience.. I want to know before I dump major coin into this.. 

I think the only issue is the price.

It just costs way too much.

The only thing I have invested into it is my NMC - which I didn't know what to do with anyways... I figured it was better used to make GH than just sit around. I was planning on reinvesting my NMCs earned from this to up my GH power... kind of like reinvesting dividends - then just take the BTC back to my normal wallet.

I was looking around and from what I see the price is not too bad compared to what is available now... the pre-order stuff is much cheaper, but the prices seemed to be comparable to any hardware I could have shipped or picked up today.

I have also been reading several articles about cloud mining ... most saying that it is the only way to keep up with the technology

I was wondering about this too, as I just opened an account too.

I agree with you that it's better to have your spare coins invested into GHs over just letting them sit... besides in CEX.IO GHs are very much alike an alt coin in the aspect that you can just sell it and buy it whenever you feel like it.