Bitcoin Forum

does anyone know whats the best cloud mining group or business i have a an account on this site https://cex.io// (https://cex.io/) and on http://www.pyramining.com (http://www.pyramining.com) if anyone knows of another site that has cheap ghash that be awesome.

Mod note: Referal spam is not allowed.

I don't know of any other cloud mining websites, but

neither of the two sites you mentioned (with ref links) are cheap.

The GH/s are not even close to being cheap.

They are overpriced.

cex.io needs to come down below 0.04 BTC before it is worth buying. The current price of 0.074 BTC is absurd. Most people buying at that price are going to lose money.

thats why im trying to find a cheaper one have you heard of this one http://bit-mining.co/ (http://bit-mining.co/) anyone thats legit on here your opinion would be greatly appreciated

That site is cheaper than cex.io, but your are still unlikely to make a profit, especially with their 8% fee.

that sucks i really wish i bought more than 2 btc when it was $300 a piece i thought that was pretty sketchy now its in the 1000s any other ideas how i can rake up some btc's?

I find it hard to believe this will EVER be profitable.

Someone said, if you have a Bitcoin miner that can create Bitcoins, why would you ever rent that to someone else for LESS than the amount you yourself can make?

That rings true. Why would anyone give up so much potential profit to someone else? The only counterargument is that they are paid in US dollars to run these cloud miners, which if the price of Bitcoin were to crash, would mean they come out ahead. But then that's a bearish on Bitcoin perspective. If you believe that, why mine at all?

that is true, good point. never really thought into it. guess the best thing is to find someone to do a group buy so we can all share the profit but as far as through a business its not gonna be very profitable unless your the one doing the hashing.

Surfhero:

I bought a BFL little single once for ~$1,200.  If I had bought XBT at the time, I would have had around 15.

Once I received the miner, I was lucky to get 1 XBT out of it before I sold it for $700 over what I paid - right after BFL sent me an email saying they had shipped all back orders and were shipping from stock.

Some sucker was desperate to get in the game and was poorly informed.

Take heed: if you believe in cryptocurrency as our future, buy a little at a time (Coinbase lets you buy in fractions of a Bitcoin) according to what you can handle, store it in a secure offline wallet (e.g., electrum --- and make many copies both on CD and USB).

DO NOT SELL, DO NOT SPECULATE!  Every asshole out there is trying to do that and there are plenty of bigger fish in the sea that will eat your lunch ----- and your profit!

BUY AND HOLD!  It is the best prospect to make a profit, now and in the next couple of years.  Buy a little every week, if you can.  AND HOLD ONTO IT.

Don't go thinking you can predict the market.  Don't try and get in the mining game because you'll spend more cash than the Bitcoin you'll get out of it just trying to play that game.  It just makes more sense to buy than invest in hashing power. 

(That said, I make plenty day trading a small portion of my holdings....but I've been in the game a lot longer than you, and it's no better than Craps.)

If you want to speculate, buy a bunch of an altcoin you think will go somewhere.  Buy and hold LTC cause it's up there in price now, but plenty of other coins (DigitalCoin, SecureCoin, etc.) are cheap enough that you can drop $10 and get a bunch of them to see where they take you!  (If you end up at a significant profit, you can always trade up to BTC.  :P)

Seriously: BUY AND HOLD.  Forget the rollercoaster of the ups and downs.  Does not matter.  BITCOIN TO THE MOON!!!!! (and it'll make you a millionaire if you just buy and hold.)

thanks gnostication i have been thinking of buying cheap alt coins i did that with ltc and made some money then bought btc with that i think il follow your idea it sounds like a way better and much easier way.

Well you can either let your bitcoin sit in a wallet no making any money, or you can buy mining power with it so your bitcoins are working for you generating more bitcoin.

Of course it is an exchange so there is risk, like all other bitcoin/mining ventures, it's up to you whether you think it's worth it.

Yes, you can buy hashrate, and it will give you some revenue (just like interest for loan and dividend for stock), but the principle value will drop more than that (due to increase in difficulty).

What is the best cloud mining group?

I've looked at a few websites.

and I've tried cex.io, but now I think http://bit-mining.co/ (http://bit-mining.co/?ref=852) is one of the better ones.

Compared to cex.io, the prices are much more favorable and there are daily payouts.

But the advantage of cex.io compared to bit-mining.co is that you can trade your GH/s really easily.

I have yet to see a cloud mining service where you can actually profit. People soon realize that they have to spam referrals to make up for the bad deal  :P

It depends on what the groupbuy is for. Usually groupbuys are for preorders and preorders are risky and with the products coming many months later.

what kind of groupbuy are you guys talking about?