Bitcoin Forum

I guess this is my obligatory post too! I'm looking for people to share their experience with cloudmining providers so we can weed out the scammers from the legit operations and compiling a list of as many I could find, I think it will be a booming industry by march with hosted services poping up everywhere.

happy holidays!

Bad experience.

My advice don't bother. I invested a lot of money into cloud mining as a Noobie and I will make around 1/3rd of my investment back, however due to the rise of value in Bitcoin I'll make a few thousand more than I had invested so saved but only just. The company I have a mining contract with, it turns out has roughly a 300-400% markup on the cost of hashing power - this wasn't covered in the contract and I naively thought they would buy more hardware/hashing power and offer it at near cost price.

My advice:

Use a Co-operative, a group of likeminded people who band together to buy hardware and share the spoils. That way you'll get the best maximum return. Even then make sure you use one of the specific Difficulty calculators to work out profitability first before you decide to mine.

My obligatory post too...sorry nothing to do with your thread  :o

I think using Amazon's EC2 can be quite lucrative, if you use spot requests and mine alts which are likely to go up in price.

It is generally not worth the hassle.

Don't do it. If you want to do something with cloud mining, I suggest to start a service ;) Only way to actually earn something.

I have seen some pretty lame cloud mining offers from various large tech companies. Black arrows cloud mining offer kicks bum over the rest though in terms price per G/H.
Alot of them will only host for you if you buy their equipment, but with black arrow they loan it to you for a very small amount. Beats paying out large sums for comparable equipment pre buys if you ask me.

@Wasamata Sure there is so many cloud mining offers however Black arrow cloud mining are the best deal.

LOL. Yeah, the only people making money from cloud mining is the operators and about 20% of the people on CEX.io who are doing successful trading with their gh/s. Spend the money you would of on cloud hashing on BTC instead.

Yeah I looked into it too. You are pretty much not going to make your money back if you are just mining. But you could trade on the GHash market.

does anyone have experience with bitservers.biz?