Bitcoin Forum

Hello,

I love the idea of mining but I don't have the space in my house to host a mining hardware. I was thinking about playing around with cloud mining but I would like to use something where I can point my cloud hashing power anywhere I want.

Is there anything like that on the market?

nice idea but no!  ;D
the only way that could happen , would be for you to have  hosted mining equipment  to someone and have control over it.

Being able to choose how and where to point your miner is an essential component if we wish to to preserve Bitcoins Decentralized Network. That is why SWMC's Hashing Exchange will be offering individuals the choice to mine at any mining pool they want, or even solo mine if they wish.

Posted From bitcointalk.org Android App

My main concern is that any cloud mining platform that does not allow this could be a Ponzi scheme. With current Bitcoin difficulty, I could create a fake cloud mining platform and tell people to send me 1 BTC and give them back a fraction of it, as alleged mining profit. If I can, on the contrary, redirect my hashing power anywhere, I know that I am paying for real hardware.

This platform, for example, allows users to choose their own mining pool.

http://www.nimbusmining.com/faqs

Yes Nimbus mining works. I purchased 1GHS to test the platform out, and it works pretty well. I have moved the miner around to several different major pools on a whim with no issues. I have also done SHA256 alt coin mining with it, which also works fine. The value isn't there to purchase it in quantity though, which is unfortunate. The only negative thing I've found about it is probably related to my hashing power - there are times that it goes offline for a few hours, but the long-term average has been good in spite of that. I have it hashing on Eligius right now, and here it its worker stats:

12 Hours           1,030.79 Mh/s   10368
3 Hours           1,037.16 Mh/s       2608
22.5 Minutes   1,170.78 Mh/s      368

Hi,can you post the setting for connect the nimbusmining worker to onother pool?

i see only del login and data password of my mining pool account!

thanks

some can, some cant.

www.kaysid.com does also allow it for the scrypt mining. We are working on the Bitcoin side to allow this soon. (Its available for advanced miners now for BTC but needs to be a little more simplified for the average user)

We are building this right now :) And we already have a good amount of hashrate to offer.

I must say that its a nice idea. You may visit this http://www.coindesk.com/information/cloud-mining-bitcoin-guide/.
I hope it may help you.

If I remember correctly, CEX said they were going to implement a feature so you could choose your own pool, of course it never happened though.

Well, for -legimate- cloud mining, with real hardware owned by real people, you should be looking at something like LeaseRig (check the link in my sig).

You get to pick the rate, what algo, and where you want to point it.

I lease my rig there, obviously, because I don't want to care about chasing the best coin or the best rate. Other people with more spare time can do that 8)

are have try this cloud http://cpu-cloud.net/
they allow u use any pool for the algorithms that they have
ive try for mining FCN, XMR, QNC and all working well

Cloud mining is getting popularity day by day. I am involve in cloud mining. In my opinion https://www.genesis-mining.com/ is the best place for cloud mining.

Cloud mining allows companies to take your money and make profits with it.  The end user does not make profits from cloud mining.

In what scenario have you ever seen companies give away profit?  Companies like Pizza Hut will allow you franchise, but you have to do work to make a profit (and they still get their take).  Why would a mining company readily give up free profit that requires no real work?

Nimubus mining already offer that service since January !!!

https://www.nimbusmining.com

I disagree they have a lot of hidden fees ! go see https://www.nimbusmining.com i have been using them since April i can chose my pool and they have no HIDDEN FEES.

You just proved my point.  Nimbusmining is charging over $5/GH.  Right now you can buy an Antminer S3 and have it hosted in WA for under a total of $2.50/GH for 9 months of mining (it's maximum useful life).

You're paying 2 to 3 times the actual mining cost. That profit goes straight to nimbus who will build their own mining farm to compete against the very same hashes they are selling you.

It's like giving somebody a gun so they can fight in a gunfight with you.

Cloud mining actually encourages centralization.  If gives the cloud mining company are larger presence and the "gift" of your purchase allows them to either build or buy their own private farm which they make a profit off of and then "offer" to you 3 months after they made their share.  Rinse & repeat.

Well that may be true, I'm not a professional nicer and i can tel you that i won't know what to do with my equipment if i had it deliver to me. but i can tel you that i did make money on my contract on nimbus they where the only one who did not have more fees after you paid for your basing and they let you chose you're pool !
any way my experience was positive and i can only recommend them.

If you picked a pool that was mining a fresh pump and dump coin and you managed to sell the coin quickly you could make a profit I guess, but that is not something 95% of people could reproduce.

+1

You are right. Most of the company now support cloud mining as it is a big business and can get a decent profit sometimes more. For example, if you buy 1 GHs. You will get ~1/12 of the BTC you send every month. In annually, you will only get the BTC you spent with a small amount of BTC, say 0.001 . There is no profit at all, when we convert it into USD. Instead of doing that you can mine at home or trade BTC. If you are good in trading, you will atleast get $10 as profit. A simple way in trading is buy 1 BTC when the USD/BTC price is low( >550$ ) and you can sell it when it reaches atleast $600. Now you got $50 profit. It is a simple way. Remember, sometimes you have to wait for a few months to see the increase in USD/BTC price but when comparing it to cloud mining, trading is more better.

Kindly,
       MZ

dont buy nimbusmining i have three contracts with them and none of them are mining I have contacted there support(more than once) and haven't gotten a reply .. be weary!  >:(

That's really bad. They had nice reputation. So why did you bought three of them, if atleast one of them isn't mining?(No offence) :) How many GHs you bought?

  ~~MZ~~

15 overclocked S3's are currently available to rent on the NinjaCloud.  Rent is all-inclusive of power, management, internet everything. No further fees apply.

Prices:
1 Day .01033 btc
1 Week .06795 btc
2 Weeks .14175 btc
1 Months .27869 btc
6 Months 1.465 btc

You choose the pools, and we never touch your bitcoin earnings.  Please PM for an invite as the project is in closed beta. We have a great uptime record, being hosted in an N+2 redundant facility.

Difficulty went up on 8/31 another 15%, and on 8/21 up 20%... An overclocked S3 (~480) only makes 0.01 to start with, if you mine bitcoin.  I suppose you could mine some altcoin and make more (?).

We're priced slightly below the expected returns during the beta period to encourage users to test/break the site.  Nicehash is paying .0217btc per TH/day right now, so you could theoretically make a small profit there, or your pool could get lucky and you could see great returns for the day. The best value of course is on a 6 month lease.

Or maybe you have some bitcoin you don't like (for whatever reason) and want to get some new fresh mined bitcoin in return. What better way than to mine some in the cloud?

Well you can check my signature for gawminers. While they are not allowing anywhere you can buy hashlets for zenpool nicehash waffle clever multipool ghash btcguild. But the problem is that you will have to buy each hashlet at different price. I believe the hashlet prime can mine at any pool other then sha256 while the genesis miner can mine on all 4 sha256 pools. The problem I find is that they convert all your coins to btc. I wish I could just keep a few coins.

For this I have found crypto coin trade the best you can check my signature for that also. Recently they were giving 5khash of scrypt mining for free for 10days for you to try out but they are in beta and have alot of bugs so they stopped that for the time being. You can buy ghs, scrypt khash and x11 khash from them directly via your coins or paypal whichever one you prefer. But they dont allow different pools they mine at their own selected pools and you can switch off the manual trades to keep your coins and trade them when you please.

Watchs out for these ninjas they make sounds like yous own when launched!   Now they fails at selling many! 

Stills waiting for contracts showing you haves anything from Bitmain backing you besides what other big buyers get! Ninjas!

For anybody who want proof to view how desperate these firms are, they literally pay website visitors to come onto these boards and post spam supporting them. Here are users I among others have defined as shill posters. Click on the account and look at their post history. If 1/2 their posts are promoting a firm they are paid shills more than likely.

The question would be, If you had say 30 cloud mining companies competing for blocks, they surely not centralizing the protocol.

It's when you have 1 company dominating, when centralization happens.

I'd rather have 30 different companies running a stable "mining" outfit, than having 300 solo miners with "unstable" rigs. For me it's stabillity and efficiency and increased transaction confirmation that counts.

That said, if we only have 2 or 3 huge companies running the show, it increase the risk of the protocol failing it's primary objective.

But that is just my opinion, you will still have both mayor players and solo miners, to support "mining" even if some are only in the game for experimentation.

I have heard that cloud mining is not profitable. Is it possible to make money with cloud mining?

I guess it depends on which company we are talking about. I would look at many turstable ones and see how much they payout. I have been happy with crypto cointrade and gaw to be honest not sure about others. There is a new site that popped up in Russia I did invest very little in it to see how they pay.

No one mentioned how overpriced their GHS is, it's waste of money to deal with any of those companies. BTW you can use nicehash, you will get ghs lot cheaper and you can point it wherever you want

clouds wont let you choose pools only rentings - http://fuk.io/cloud-hashing-and-rig-renting-services-review/

Genesis Mining let you choose what coin to mine. Regarding pool, I am not sure.

If you want to use any pool (especially if you are going to mine altcoins) I really welcome you to try NiceHash.com (http://NiceHash.com), it's easy to use and you wont risk much - pay-as-you-go, no contracts ;)

Not with GAW, I think Genesis allow some pools but not custom, LTC Gear allow a few too.
Generally you are buying shares when you buy cloud mining not a physical unit, so it's important to work out ROI based on investment, hash and difficulty raises.

Currently the best is LTCGear, but GAW also has good potential.

just wanted to clear it up that nimbusmining got ahold of me and fixed things up  :)

Why do people pay .020+ BTC to earn .015 BTC???

what do you mean?

I dont use the above contracts. I picked up some at gaw actually picked up a 13mhs blackwidow with free 1 month hosting about 1.5 months back. Yesterday I converted them to hashlets which were prime hashlets. I have about 80 usd in my account at current rates. And if I sell my primes I get back 80% of the value of the current primes which is 50 usd so I get about 40 usd per prime. If I sell I get back $520 plus the 80 bucks I have for hardware that I paid $221.

The primes are amazing though. I mean I can use them on 2 pools at the same time and get payout from both pools(12hour on one pool and 24hour on the other pool) Then there is a boost feature which I think gives you 50% boost for 30 mins and there are other features soon to come to primes. So I do suggest using gaw to pick up hashlets as the best way to go if you are concerned with ROI. They do have alot of bugs but they let the community vote on things they plan to do. Tell me of one service that allows that. And they are very active.