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Title: Mining Contract and Cloud Mining Post by: thaway on January 15, 2014, 10:07:56 PM I’m not super Tech savvy, but I know enough to get by. I could learn to mine from my own hardware, but I like the idea of someone mining for me.
1) So…what do you guys think of mining contracts? 2) Separately, is it cost effective to rent space in the cloud and mine there rather than go out and buy a bunch of equipment? Title: Re: Mining Contract and Cloud Mining Post by: ThE_AdMiRaL on January 15, 2014, 10:21:36 PM I’m not super Tech savvy, but I know enough to get by. I could learn to mine from my own hardware, but I like the idea of someone mining for me. 1) So…what do you guys think of mining contracts? Basically this would work I think. The better question is, how do you check the person who is doing this for you is trustworthy and only taking for example 10% of the Profit earned by your capital and not 50 ? 2) Separately, is it cost effective to rent space in the cloud and mine there rather than go out and buy a bunch of equipment? Depends on what you are doing (which coin). I'm currently building up my own cloud for Primecoin, but if the difficulty rises beyond 11, I will have to consider taking my winnings and look for something else... BTC is only profitable using asics for BTC-Mining, which as I guess, the average Cloud Service Provider does not offer. Amazon offers GPU Cloud instances afaik, but I would be carefull about the pricing and the risk, that ASICS are quite easily developed if a GPU algorythm is applyable... Title: Re: Mining Contract and Cloud Mining Post by: nathan_kia on January 15, 2014, 10:50:25 PM Virtualization and controlling the operation might be an issue and tough to implement. unless you wanna do it completely manual for the customers.
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