Bitcoin Forum

Bitcoin => Mining speculation => Topic started by: botolo86 on March 27, 2014, 06:29:28 PM



Title: My cloud mining experiment
Post by: botolo86 on March 27, 2014, 06:29:28 PM
Hello Fellow Miners,

I love the idea of cloud mining and I know that many of you think this is not profitable. Not having other options (I can't host hardware at my place) and willing to have some fun, I started buying some hash power from some of the most popular or interesting vendors and I will report daily here on my results.

These are the vendors I am buying from:

NimbusMining
Great vendor, you can rent GHS one year and direct their hash power anywhere you want. I am currently mining at BTCGuild.
The price, however, is very high.
They use hardware from BFL.

CEX
Popular cloud mining provider. I love the fact that I can resell my GHS in the future. They have the biggest pool, GHASH.IO.
Prices are much better than NimbusMining but you can't direct your GHS anywhere you want.

PBMining
I know that someone here says they are a scam, but I have read many posts from happy customers and I wanted to give them a try. More than leasing hashing power, I have the feeling that you are contributing to their own mining network and they repay you with exact mining results according to a fixed calculation.
They have the best price out there. Payouts every week.

Here is the initial spreadsheet.

https://i.imgur.com/FeLAU1W.png


Title: Re: My cloud mining experiment
Post by: alani123 on March 27, 2014, 06:35:29 PM
Thank you for this one.



Title: Re: My cloud mining experiment
Post by: botolo86 on March 27, 2014, 06:46:06 PM
Thank you for this one.

You're very welcome. I have read so many posts about cloud mining and mining profitability in general and the truth is that there are so many variables out there, that it's very difficult to see whether cloud mining will be profitable in the long run. That's why I had this idea. Let's see where this hash power will go.


Title: Re: My cloud mining experiment
Post by: JayRobo on March 27, 2014, 07:26:52 PM
cool keep following through with this. I thought about cloud mining but it seemed unprofitable


Title: Re: My cloud mining experiment
Post by: botolo86 on March 28, 2014, 12:46:08 PM
Today's update. A couple of notes:

  • The mining result from CEX may have some dust from a previous BTC transfer, so today it may not represent pure mining results
  • The USD value of the total mined is being heavily affected by the poor BTC/USD exchange rate today

https://i.imgur.com/q199wQc.png


Title: Re: My cloud mining experiment
Post by: laserfocus on March 28, 2014, 06:11:57 PM
Today's update. A couple of notes:

  • The mining result from CEX may have some dust from a previous BTC transfer, so today it may not represent pure mining results
  • The USD value of the total mined is being heavily affected by the poor BTC/USD exchange rate today

https://i.imgur.com/q199wQc.png

Thanks for starting this thread. 

Considering cloud mining myself...helpful to see real world examples. 

Based on your spreadsheet cloud mining appears unprofitable in the short term. 

One way to better fine tune results might be to compare number of coins you can purchase vs. number of coins mined.  If it's about the same, better to invest directly in the coins(sure thing) instead of leasing out rigs in the hopes of a potentially higher payout.

If you don't mind sharing it'd be great to know which coins you're mining.


Title: Re: My cloud mining experiment
Post by: ujka on March 29, 2014, 01:10:54 PM
...
One way to better fine tune results might be to compare number of coins you can purchase vs. number of coins mined.  If it's about the same, better to invest directly in the coins(sure thing) instead of leasing out rigs in the hopes of a potentially higher payout.
...
On that spreadsheet, there is a column 'Potential BTC purchase', and than 'Total BTC mined' and 'Total BTC gain', so you can compare just that, leaving $/btc exchange rate aside.


Title: Re: My cloud mining experiment
Post by: botolo86 on March 29, 2014, 01:16:46 PM
I am so glad that many people appreciate this project and find it useful. Here is the spreadsheet for today. Some comments:

  • I have added some columns to see the daily mining outcome of each single cloud mining platform. I usually update the spreadsheet at the same time, at around 6.00am PST but don't expect it to be exactly a 24 hours round;
  • Day 2 results are not reliable, because I had some BTC dust in the CEX account which is not related to CEX's mining. But starting from day 3 everything gets normal

https://i.imgur.com/cebZLoM.png


Title: Re: My cloud mining experiment
Post by: botolo86 on March 29, 2014, 01:39:35 PM
I am having a lot of fun with this project and I have just updated my spreadsheet with some projections. I am basically taking the last value for daily BTC mined and reporting it for the number of days that I know difficulty will still remain the same, according to bitcoinwisdom.com.

https://i.imgur.com/SOdgObl.png


Title: Re: My cloud mining experiment
Post by: raskul on March 29, 2014, 01:48:08 PM
good stuff, thanks for taking the time to compile this, i'll be watching  :)


Title: Re: My cloud mining experiment
Post by: b!z on March 29, 2014, 02:11:47 PM
When do you expect to start making profit?


Title: Re: My cloud mining experiment
Post by: botolo86 on March 29, 2014, 02:13:35 PM
When do you expect to start making profit?

I have no idea. Some BTC calculators say never, some others say 3 months. I created this project to see what really happens. No assumptions on BTC/USD value, no assumption on difficulty increase, just the real thing.


Title: Re: My cloud mining experiment
Post by: raskul on March 29, 2014, 02:15:29 PM
When do you expect to start making profit?

I have no idea. Some BTC calculators say never, some others say 3 months. I created this project to see what really happens. No assumptions on BTC/USD value, no assumption on difficulty increase, just the real thing.

my own first purchase on PBMining was at the end of february. as of today (1 month on) that purchase has mined half of what I paid for it. so taking difficulty increases into account, 3 months sounds about right for GH purchases from them. can't comment on the others...


Title: Re: My cloud mining experiment
Post by: 5ick3uffalo on March 29, 2014, 04:39:09 PM
25 $ for 1 Gh/s? OMG lol


Title: Re: My cloud mining experiment
Post by: alani123 on March 29, 2014, 04:49:39 PM
Is there something wrong with PB mining? The earning seem similar to those of the 6 Gh/s of cex!  :o


Title: Re: My cloud mining experiment
Post by: raskul on March 29, 2014, 04:51:28 PM
Is there something wrong with PB mining? The earning seem similar to those of the 6 Gh/s of cex!  :o

perhaps it's CEX who are skimming on mining returns?  :-\

add: I have 60GH on PBmining now and the returns are most definately correctly comparible with my 170GH rig at home, which I mine on a dgm pool.


Title: Re: My cloud mining experiment
Post by: ujka on March 29, 2014, 04:54:58 PM
Is there something wrong with PB mining? The earning seem similar to those of the 6 Gh/s of cex!  :o
He said he had some 'dust' on cex address.


Title: Re: My cloud mining experiment
Post by: alani123 on March 29, 2014, 04:56:55 PM
Is there something wrong with PB mining? The earning seem similar to those of the 6 Gh/s of cex!  :o
He said he had some 'dust' on cex address.

But still assuming that 60 is 10 times bigger than 6.

Shouldn't the daily payout be similar to that?


Title: Re: My cloud mining experiment
Post by: raskul on March 29, 2014, 04:59:24 PM
Is there something wrong with PB mining? The earning seem similar to those of the 6 Gh/s of cex!  :o
He said he had some 'dust' on cex address.

But still assuming that 60 is 10 times bigger than 6.

Shouldn't the daily payout be similar to that?

If you consider the difference between the luck of each pool, there is aught to be some variance.


Title: Re: My cloud mining experiment
Post by: ujka on March 29, 2014, 05:02:55 PM
Is there something wrong with PB mining? The earning seem similar to those of the 6 Gh/s of cex!  :o
He said he had some 'dust' on cex address.

But still assuming that 60 is 10 times bigger than 6.

Shouldn't the daily payout be similar to that?
I'm looking day 3:
cex daily:         0.00037
PB mining daily: 0.00544

It's 14 times bigger. (luck probably)



Title: Re: My cloud mining experiment
Post by: botolo86 on March 29, 2014, 05:05:25 PM
Is there something wrong with PB mining? The earning seem similar to those of the 6 Gh/s of cex!  :o

Nope. As I said, Day 2 had some dust on CEX, therefore it's not reliable. Look at Day 3.

CEX daily profit is  0.00037039. If you multiply this profit by 10 (6 GHS on CEX become 60 GHS), you get 0.00370390  which is even less than what I get with PBMining at 53 GHS,  0.00544143 .

Also, consider that PBMining does not give you profits from an actual pool. It uses a fixed formula similar to the one used by bitcoinwisdom.com and it gives you this fixed amount every week. I assume that the guys at PBMining have created a sort of consortium, where they use BTC from members to buy hardware and mine according to their strategy and they give to members profits according to the fixed formula. It's like saying: "OK, you are the expert, here are my money, use them as you want as long as you guarantee me the return I would have according to profitability formulas".


Title: Re: My cloud mining experiment
Post by: jseppeli on March 29, 2014, 05:07:16 PM
Is there something wrong with PB mining? The earning seem similar to those of the 6 Gh/s of cex!  :o
He said he had some 'dust' on cex address.

But still assuming that 60 is 10 times bigger than 6.

Shouldn't the daily payout be similar to that?
I'm looking day 3:
cex daily:         0.00037
PB mining daily: 0.00544

It's 14 times bigger. (luck probably)



cex has high maintenance fees (16.1%) so that makes also a difference in profits


Title: Re: My cloud mining experiment
Post by: Biomech on March 29, 2014, 05:09:19 PM
When do you expect to start making profit?

Three weeks ago, for me :D


Title: Re: My cloud mining experiment
Post by: 5ick3uffalo on March 29, 2014, 05:17:20 PM
I own 214.2 GHS at PB and get about 0.12 - 0.13 BTC weekly

More than Happy  ;D

Was so close to make mistake and invest in CEX lol Ghs was 0.019 there


Title: Re: My cloud mining experiment
Post by: 5ick3uffalo on March 29, 2014, 05:20:11 PM
When do you expect to start making profit?

Three weeks ago, for me :D

Congraz :)


Title: Re: My cloud mining experiment
Post by: jordixal on March 29, 2014, 06:38:14 PM
Any opinions about scrypt.cc nobody tried this service?


Title: Re: My cloud mining experiment
Post by: alani123 on March 29, 2014, 10:26:39 PM
Any opinions about scrypt.cc nobody tried this service?


I did. People seem satisfied in general. I own few Kh/s and everything seems fine. I get paid for shares many times a day. I haven't tried to withdraw though. The developers are still working on the site though and the price had droped since I bought.

I own 214.2 GHS at PB and get about 0.12 - 0.13 BTC weekly

More than Happy  ;D

Was so close to make mistake and invest in CEX lol Ghs was 0.019 there

Care to share with us what price did you buy them?


Title: Re: My cloud mining experiment
Post by: paulsonnumismatics on March 29, 2014, 10:38:15 PM
Thanks a lot for the effort and the follow up. Im sure that this is the best summary about the whole Cloud Mining thing.
Lets see how providers react if BTC goes down a lot. Maybe problems with power costs? no ROI for them? who knows...
Interesting Times!


Title: Re: My cloud mining experiment
Post by: raskul on March 29, 2014, 10:40:55 PM
Any opinions about scrypt.cc nobody tried this service?


I did. People seem satisfied in general. I own few Kh/s and everything seems fine. I get paid for shares many times a day. I haven't tried to withdraw though. The developers are still working on the site though and the price had droped since I bought.

I own 214.2 GHS at PB and get about 0.12 - 0.13 BTC weekly

More than Happy  ;D

Was so close to make mistake and invest in CEX lol Ghs was 0.019 there

Care to share with us what price did you buy them?

PBMining is 0.0075 / GH


Title: Re: My cloud mining experiment
Post by: xstr8guy on March 30, 2014, 01:49:15 AM
Any opinions about scrypt.cc nobody tried this service?


I did. People seem satisfied in general. I own few Kh/s and everything seems fine. I get paid for shares many times a day. I haven't tried to withdraw though. The developers are still working on the site though and the price had droped since I bought.

I own 214.2 GHS at PB and get about 0.12 - 0.13 BTC weekly

More than Happy  ;D

Was so close to make mistake and invest in CEX lol Ghs was 0.019 there

Care to share with us what price did you buy them?

PBMining is 0.0075 / GH

PBmining is going to kill hardware sales if this trend continues.

I pointed this out in another thread but may bear repeating here.  The current price on PBMining is like buying a 5GHs Jalapeno for ~$25.00 and owning for 5 years and never having to pay for electricity.

Extending that out to the high-end,  1THs miners, it's liking ordering a BitMain S2 and having it delivered today, owning it for 5 years and not paying for electricity. 


Title: Re: My cloud mining experiment
Post by: croato on March 30, 2014, 02:02:59 AM
Good thing with cex.io is that you can trade ghashes and coins without provision


Title: Re: My cloud mining experiment
Post by: xstr8guy on March 30, 2014, 03:59:49 AM
Good thing with cex.io is that you can trade ghashes and coins without provision

But you have to play the game right since the GH are so overpriced on CEX.  I lost my ass when there was a series of waterfall drops a couple of weeks ago.  Once the price drops on CEX, don't hope for a real rebound because it never happens.  Just check the chart on the site.  It goes only one way... down.


Title: Re: My cloud mining experiment
Post by: tricomp on March 30, 2014, 07:01:18 AM
PB Mining appears to be the best value in terms of purchase price of cloud mining hash. However, the 5yr commitment  and current inability to trade the capacity is quite a limitation. if only PB  Mining could enable transfer of mining hash among customers, then using an escrow service, customers of PB Mining could trade hashing capacity among themselves. That would be great.


Title: Re: My cloud mining experiment
Post by: xstr8guy on March 30, 2014, 08:04:34 AM
PB Mining appears to be the best value in terms of purchase price of cloud mining hash. However, the 5yr commitment  and current inability to trade the capacity is quite a limitation. if only PB  Mining could enable transfer of mining hash among customers, then using an escrow service, customers of PB Mining could trade hashing capacity among themselves. That would be great.

But the 5 year commitment is a plus.  You only pay them once and the hash is yours for 5 years... or however long they stay in business.  It's not a trading platform.  It's really just an alternative to buying hardware when you really think about it.


edit... ah yes, I see your point now.  With hardware, you could possibly sell it for a profit.  The upside with PBMining is you don't have to deal with the headache of hosting the miners yourself.  And for me that is a HUGE deal.  I've simply reached capacity and don't have the room for another miner in my house.


Title: Re: My cloud mining experiment
Post by: fikriwic on March 30, 2014, 08:13:47 AM
any option for other cloud mining?
pbmining in max 5 month will ROI..


Title: Re: My cloud mining experiment
Post by: xstr8guy on March 30, 2014, 08:18:03 AM
any option for other cloud mining?
pbmining in max 5 month will ROI..

Every other cloudmining option is much more expensive at the moment.  Last I looked, CEX.io was ~$7.00/GHs.  Cloudhashing best deal is $9.00 and Nimbus (BFL) $25.00!  PBMining is ~$3.75 or less.


Title: Re: My cloud mining experiment
Post by: croato on March 30, 2014, 09:03:47 AM
i will put some ghs in other cloud miners, but cex.io will stay my main cloud mining platform.


Title: Re: My cloud mining experiment
Post by: boomertoo on March 30, 2014, 12:35:08 PM
Good work.
It may be cool to include a cex ghs current price and price initially paid, to determine live P/L
It may increase profit opportunity to trade in and out as opposed to buy and hold.


Title: Re: My cloud mining experiment
Post by: botolo86 on March 30, 2014, 03:05:24 PM
Good morning, everyone. Here is my daily update. As we can see, we had some bad luck with BTCGuild, where the mining profit was lower than yesterday's and we have PBMining which keeps on being a great alternative, with its fixed formula which is not affected by luck of any pool.

It's just sad that BTC/USD is going so down! This is where I don't understand what the best strategy should be: buy BTC because they are cheap or buy BTC and then invest them into GHS, because GHS are cheap?

https://i.imgur.com/lqP5iaQ.png


Title: Re: My cloud mining experiment
Post by: raskul on March 30, 2014, 03:21:44 PM
so are PBMining the only pool/cloud to still be using PPS? returns look as such... i think eclipse still offers PPS, but BTCGuild have moved away from it (don't quote me on any of this!)


Title: Re: My cloud mining experiment
Post by: botolo86 on March 30, 2014, 03:45:34 PM
so are PBMining the only pool/cloud to still be using PPS? returns look as such... i think eclipse still offers PPS, but BTCGuild have moved away from it (don't quote me on any of this!)

Guys, PBMining is not a pool. The company buys hardware and mines at undisclosed pools and gives back profits using a fixed formula.


Title: Re: My cloud mining experiment
Post by: raskul on March 30, 2014, 03:46:48 PM
so are PBMining the only pool/cloud to still be using PPS? returns look as such... i think eclipse still offers PPS, but BTCGuild have moved away from it (don't quote me on any of this!)

Guys, PBMining is not a pool. The company buys hardware and mines at undisclosed pools and gives back profits using a fixed formula.

great. show me proof of this.


Title: Re: My cloud mining experiment
Post by: botolo86 on March 30, 2014, 03:51:39 PM
great. show me proof of this.

https://bitcointalk.org/index.php?topic=418183.msg4861373#msg4861373


Title: Re: My cloud mining experiment
Post by: raskul on March 30, 2014, 03:56:36 PM
great. show me proof of this.

https://bitcointalk.org/index.php?topic=418183.msg4861373#msg4861373

thanks for that... I totally missed that entire page. sheds light onto the situation. quite glad I went with my gut instinct - I was so close to buying from the alpha-miner-thingy - seems they turned out to be a total scam.


Title: Re: My cloud mining experiment
Post by: Borntostun on March 30, 2014, 11:58:34 PM
By far the best in returns right now is Scrypt.cc

Click the link below!  Low fees, auto-switching to most profitable coin, pay outs every 10 minutes.  I'm getting about .5% a day right now. 


Title: Re: My cloud mining experiment
Post by: botolo86 on March 31, 2014, 12:10:02 AM
By far the best in returns right now is Scrypt.cc

Click the link below!  Low fees, auto-switching to most profitable coin, pay outs every 10 minutes.  I'm getting about .5% a day right now. 

I don't agree with you. I have just used the profitability calculator on the website you mention. If we take the value from my mining spreadsheet referred to today, Day 4, you can see that I am mining  0.00632561 per day. My investment was 0.51019028 BTC and I could have spent less.

To mine the same daily amount of BTC using the website you mention, I would need to buy 656 KHS at 0.99713968 BTC. It's almost double the investment I made.

https://i.imgur.com/bY4rlhB.png

Also, please do not use this thread to spam with your referral link. I am avoiding using any referral link to keep this thread purely scientific.


Title: Re: My cloud mining experiment
Post by: botolo86 on March 31, 2014, 01:47:52 PM
Daily update. No particular comment today. Yesterday I received the first payment from PBMining. They also lowered their price to 0.007 BTC per GHS but they are already sold out  :(

https://i.imgur.com/71oGoWr.png


Title: Re: My cloud mining experiment
Post by: Borntostun on March 31, 2014, 11:40:34 PM
I think you're forgetting one thing though.  With the exception of your small CEX investment, you can't sell (or even trade) your GHS or KHS on those other sites.  It all depends on what you are looking for . . . but the balance of returns, liquidity, and the likelihood of making even larger profits trading win out on long-term mining investments.  These boards are filled with expert analyses of how mining isn't worth it alone . . .


Title: Re: My cloud mining experiment
Post by: botolo86 on March 31, 2014, 11:46:54 PM
I am not interested in daily or semi daily trading as unfortunately I don't have the time to dedicate to this.

The experiments arises from my personal wondering on whether cloud mining can be profitable. Current analysis that you can find online usually are based on presumptions related to the difficulty increase, the BTC/USD, etc. The goal of my project is to provide a real life analysis. Let's see what happens if we buy GHS in the cloud at today's price and when we factor in the real difficulty change and the real BTC/USD.

In any case, you gave me an idea for a change in my spreadsheet which will factor the value of GHS in the CEX market, should I decide to sell my hash power.


Title: Re: My cloud mining experiment
Post by: Borntostun on March 31, 2014, 11:55:54 PM
Good point. 

To each his own . . . I prefer being able to get out if need be (and recoup some of my investment). 

Good luck. 


Title: Re: My cloud mining experiment
Post by: MTBmanTT on March 31, 2014, 11:59:02 PM
Hi OP,

I just wanted to thank you for putting this thread and spreadsheet together, found it very educational.


Title: Re: My cloud mining experiment
Post by: elrugrim on April 01, 2014, 01:57:43 AM
Boto-  I will second the try a run at scrypt.cc for comparison.  Lesser initial yeild, but it is not on the btc/difficulty curve, so the back end doesn't have the same diminishing returns prospects.  I won't even toss out a referal, but this is a very nice experiment, so I would like to point out a possible alternative that should payout.


Title: Re: My cloud mining experiment
Post by: BigBoy89 on April 02, 2014, 02:51:45 PM
i never heard NimbusMining
maybe too expensive for me;D
how about hashop.io? it is expensive too?
anyone who have contract with them please share in this thread
so we can have many options and comparison
-
cex.io GHS/BTC trading is not profitable for hold GHS for long time
cause GHS price drop everytime (especially when difficulty increase)



Title: Re: My cloud mining experiment
Post by: botolo86 on April 02, 2014, 03:10:34 PM
Here is a new update, sorry that I missed yesterday.

I have added daily CEX GHS/BTC value and I have added a "What if I stop mining today" summary section, which includes also the profit I would make if I sell my CEX GHS.

Enjoy.

https://i.imgur.com/Dft70NT.png


Title: Re: My cloud mining experiment
Post by: Don007 on April 02, 2014, 03:17:27 PM
Great experiment, I will follow this topic.

So, if someone still wants to rent Gh/s these days, you recommend them to use PBMining? :)


Title: Re: My cloud mining experiment
Post by: botolo86 on April 02, 2014, 03:26:29 PM
So, if someone still wants to rent Gh/s these days, you recommend them to use PBMining? :)

This is a tricky question. PBMining has the lowest price per GHS so far and the website seems to run pretty smoothly. CEX has a higher GHS price but you can also resell your GHS anytime you want. I am running some numbers as we speak.

Let's create a hypo. Let's say that I buy 100 GHS on CEX and 100 GHS on PBMining right now.

I would pay 1.18 BTC on CEX at its current GHS/BTC price. I would get the same amount of GHS from PBMining at 0.7 BTC.

Let's assume that difficulty does not change, as this value does not really affect our analysis, which is focused on same amount of GHS mining roughly the same amount of BTC every day.

After 60 days of mining, CEX would have mined for me 0.506016 BTC (considering that CEX charges around 16% fee). PBMining would have mined for me 0.6024 BTC.

If you see these numbers you tend to think that PBMining is better. But if I stop mining for some reason on day 60, I can resell my GHS on CEX. Let's assume that the GHS/BTC value is 0.010 on CEX, I would then get a total of 1.506016 BTC (sold GHS and mined BTC), while on PBMining I would still be stuck with my 0.6024 BTC.

Let's say that I don't cash in and I keep on mining.

After 120 days, my profit with CEX would be 1.012032 BTC, with PBMining 1.2048. PBMining is still better but if I sell my GHS on CEX at, let's say, 0.007 I would get a total of 1.712032.

Any thoughts?


Title: Re: My cloud mining experiment
Post by: Don007 on April 02, 2014, 04:40:56 PM
Hm, thanks for your reply. I didn't took that "sell option" under consideration.  And, as PBmining is relatively young, it might still turn out to be a ponzi.

According to your calculation, you will earn 0.60 BTC for 60 Days of mining at PBminining at 0.7 BTC, so it takes only 2 and half month to ROI.. That's not bad either.

I think it's a hard decision. Thank you anyway very much for your experiment and explanation & calculation!



Title: Re: My cloud mining experiment
Post by: botolo86 on April 02, 2014, 04:45:36 PM
According to your calculation, you will earn 0.60 BTC for 60 Days of mining at PBminining at 0.7 BTC, so it takes only 2 and half month to ROI.. That's not bad either.

Be careful, I said that I was not taking difficulty increase into consideration in my analysis, mainly because I was interested in seeing how much impact the sale of GHS may have.


Title: Re: My cloud mining experiment
Post by: Don007 on April 02, 2014, 04:46:52 PM
Ah yeah, sorry.

How often does the difficulty increases? And by how much on average? I think it's about +20% doesn't it?  Unfortunately I fail at math, otherwise I could have made a more realistic ROI calculation.

Thanks anyway!


Title: Re: My cloud mining experiment
Post by: botolo86 on April 02, 2014, 04:56:37 PM
Ah yeah, sorry.

How often does the difficulty increases? And by how much on average? I think it's about +20% doesn't it?  Unfortunately I fail at math, otherwise I could have made a more realistic ROI calculation.

Thanks anyway!

It changes every 11/12 days but it's very difficult to predict how much it changes, because this is caused by the increase of the hashing power on the network. I usually check bitcoinwisdom.com, which is pretty reliable and interesting. For example, the next difficulty increase will happen in 3.2 days and it should be a 21% jump (pretty bad for us).


Title: Re: My cloud mining experiment
Post by: tricomp on April 02, 2014, 07:28:48 PM
So, if someone still wants to rent Gh/s these days, you recommend them to use PBMining? :)

This is a tricky question. PBMining has the lowest price per GHS so far and the website seems to run pretty smoothly. CEX has a higher GHS price but you can also resell your GHS anytime you want. I am running some numbers as we speak.

Let's create a hypo. Let's say that I buy 100 GHS on CEX and 100 GHS on PBMining right now.

I would pay 1.18 BTC on CEX at its current GHS/BTC price. I would get the same amount of GHS from PBMining at 0.7 BTC.

Let's assume that difficulty does not change, as this value does not really affect our analysis, which is focused on same amount of GHS mining roughly the same amount of BTC every day.

After 60 days of mining, CEX would have mined for me 0.506016 BTC (considering that CEX charges around 16% fee). PBMining would have mined for me 0.6024 BTC.

If you see these numbers you tend to think that PBMining is better. But if I stop mining for some reason on day 60, I can resell my GHS on CEX. Let's assume that the GHS/BTC value is 0.010 on CEX, I would then get a total of 1.506016 BTC (sold GHS and mined BTC), while on PBMining I would still be stuck with my 0.6024 BTC.

Let's say that I don't cash in and I keep on mining.

After 120 days, my profit with CEX would be 1.012032 BTC, with PBMining 1.2048. PBMining is still better but if I sell my GHS on CEX at, let's say, 0.007 I would get a total of 1.712032.

Any thoughts?

Your analysis appears to be highly dependent on your assumptions about the resale price you will get on CEX. If the price drop is higher, you may or may not  get back your initial investment from your resale price and mining profit.


Title: Re: My cloud mining experiment
Post by: raskul on April 02, 2014, 07:45:21 PM
it does depend on how you want to play it.. with CEX there is that 'getout' always available, which is why it is a desirable option for many.

At the end of the day, I think it boils down to personal preference. I didn't do such in-depth analysis before I decided where to buy cloudhashpower (and thanks to the OP for doing this comparison).

So I did decide, eventually - and it took me a good month of contemplation to take the hashpower and be done with it. Funnily enough, I also signed up to the scrypt.cc cloudhashing, which works in a similar way to CEX (but for scrypt) - and I soon realised it was not worth buying hashpower in there. I have 4.5KH on scrypt.cc that i've had there (seems like forever) and I just plough back the few thousand satoshi that earns me per day, back into more KH - in some hope that eventually it will build enough to see some worthy payouts.

So, personal preference, if you want that getout option, go for CEX, if you are sure you just want the hashpower - PBMining.
Gladly, instead of my meagre 180GH miner at home, I now also have 150GH in cloud, so weekly earnings are at the very least; keeping up with difficulty (somewhat - on a meagre scale) and it was this ultimate reason which swayed me; I just wanted to keep up with rising difficulty.

I have another BFL60 arriving tomorrow, and i'm getting into mining multipool SHA256 coins at home. I seem to be ahead of the market with that for now and it's mining me more than I would be mining in BTC - but that's a whole other comparison altogether, and not for me, i just don't have the time!


Title: Re: My cloud mining experiment
Post by: botolo86 on April 02, 2014, 08:59:59 PM
Raskul, you are right, it really depends on how you want to play with it. One positive thing about PBMining is that you buy hash power and you then just forget about it and receive your weekly payments. With CEX, you are always under the pressure of selling your hash power if the GHS price goes down too much  ;D


Title: Re: My cloud mining experiment
Post by: tricomp on April 02, 2014, 09:18:12 PM
If only PBMining could enable hash transfer among customers. This would give an opportunity to sell hash and get out when one wants to. Along with the current better pricing  from PBMining, It will make them the winner,  hands-down ,  no more debate.


Title: Re: My cloud mining experiment
Post by: Borntostun on April 03, 2014, 12:25:23 AM
But of course that would raise the price . . . you're getting it cheap because you are locked in. 


Title: Re: My cloud mining experiment
Post by: raskul on April 03, 2014, 06:30:01 AM
But of course that would raise the price . . . you're getting it cheap because you are locked in.  

I wouldn't go so far to say it's entirely 'cheap' at PBMining, but it is *coughs* the same price-for-price as a KnC Neptune if you were to buy it today.

ouch.  :o
If I had the money to buy a rig today, my money would be on spondoolies-tech.


Title: Re: My cloud mining experiment
Post by: botolo86 on April 03, 2014, 04:54:21 PM
Daily update. I have changed some things. I have gotten rid of Nimbus Mining in the spreadsheet. Their service is great but it's too pricey and it will never ROI. It does not make sense to keep tracking it. I will point my 1GHS from Nimbus Mining to GHASH.IO so that I can collect that tiny mining profit into my CEX.IO account.

I have also gotten rid of BTC/USD. It fluctuates too much and it does not make sense to keep tracking it. Let's focus on the important stuff.

I am now monitoring my GHS on CEX and on PBMINING. I have a total of 67 GHS. I am also doing projections using the daily mining profit estimate by bitcoinwisdom.com.

Enjoy!

https://i.imgur.com/H5OYEfm.png


Title: Re: My cloud mining experiment
Post by: TechByPC on April 03, 2014, 09:03:26 PM
[snip]
If you see these numbers you tend to think that PBMining is better. But if I stop mining for some reason on day 60, I can resell my GHS on CEX. Let's assume that the GHS/BTC value is 0.010 on CEX, I would then get a total of 1.506016 BTC (sold GHS and mined BTC), while on PBMining I would still be stuck with my 0.6024 BTC.
[snip]
Any thoughts?

Good to read your analysis. Thanks for posting this.. I'd just like to point out though that we know (kind of) what GHS/BTC value in 2 months will be. The FHM contract is selling around 0.004 right now, which means if you think GHS will be selling at 0.010 in two months, you should be heavily investing in FHM for a better return on your investment. Consider that you could take a 1 BTC today, buy ~250 FHM, and sell it in two months for 2.5 BTC. By far that's a better return than mining. Conversely, if GHS is to be at or around 0.004 at the end of May when these contracts mature your returns would be closer to 0.906016 on CEX. Still better than PBMining! I think this is more realistic of an estimate though.


Title: Re: My cloud mining experiment
Post by: Don007 on April 03, 2014, 09:13:26 PM
What do you mean with the FHM contract? I heard someone else that you can buy 1 Gh/s starting next month for 0.004. He pointed towards Cex.io, but I can't find it anywhere.


Title: Re: My cloud mining experiment
Post by: byt411 on April 03, 2014, 09:16:20 PM
What do you mean with the FHM contract? I heard someone else that you can buy 1 Gh/s starting next month for 0.004. He pointed towards Cex.io, but I can't find it anywhere.

FHM = Future Hashes May.
On cex.io, there is a trading pair named "FHM/BTC". FHM is basically GHashes that start mining in may, and FHA in April.
But you also have to take into account the difficulty will still go up.


Title: Re: My cloud mining experiment
Post by: TechByPC on April 03, 2014, 09:16:32 PM
What do you mean with the FHM contract? I heard someone else that you can buy 1 Gh/s starting next month for 0.004. He pointed towards Cex.io, but I can't find it anywhere.

FHM/BTC tab. It is in the row that starts with GHS/BTC.

It will convert to GHS and begin hashing on May 25.


Title: Re: My cloud mining experiment
Post by: raskul on April 03, 2014, 09:31:44 PM
hahahahahahaha

 PRE-ORDER cloud GH/s

haven't we been butt-fucked enough?


Title: Re: My cloud mining experiment
Post by: Don007 on April 03, 2014, 10:13:51 PM
What do you mean with the FHM contract? I heard someone else that you can buy 1 Gh/s starting next month for 0.004. He pointed towards Cex.io, but I can't find it anywhere.

FHM = Future Hashes May.
On cex.io, there is a trading pair named "FHM/BTC". FHM is basically GHashes that start mining in may, and FHA in April.
But you also have to take into account the difficulty will still go up.
What do you mean with the FHM contract? I heard someone else that you can buy 1 Gh/s starting next month for 0.004. He pointed towards Cex.io, but I can't find it anywhere.

FHM/BTC tab. It is in the row that starts with GHS/BTC.

It will convert to GHS and begin hashing on May 25.

Thanks! I found it

hahahahahahaha

 PRE-ORDER cloud GH/s

haven't we been butt-fucked enough?

Well, 0.004 per Gh/s ain't that bad. Unfortunately at the end of May the difficulty will be much higher..


Title: Re: My cloud mining experiment
Post by: raskul on April 04, 2014, 05:39:57 AM


Well, 0.004 per Gh/s ain't that bad. Unfortunately at the end of May the difficulty will be much higher..

yes so marking it up with a price at this time, is just another pre-order scam.
I've sworn never to take on another pre-order, and that includes socks from sainsbury's, no matter how small the price, i'm not sending a single penny to anyone for a pre-order purchase.


Title: Re: My cloud mining experiment
Post by: Zealous Zero on April 04, 2014, 04:09:49 PM
Those future bets (FHM/FHA) sound risky but, to each his own.
I'd like to see some of the features they talked about, namely scrypt mining and commodity exchange as that will improve CEX.IOs best trait, flexibility.


Title: Re: My cloud mining experiment
Post by: TechByPC on April 04, 2014, 04:21:30 PM
Those future bets (FHM/FHA) sound risky but, to each his own.
I'd like to see some of the features they talked about, namely scrypt mining and commodity exchange as that will improve CEX.IOs best trait, flexibility.

Traditionally GHS is way above what it "should" be, so chances are that just holding the contracts and selling at maturity will be positive. However, their prices for the contracts have held very steady since they were introduced. You can sell those contracts as easily as you buy them, and so long as you set a price when you sell and don't do an immediate transaction, you really could get out of a contract at a very minimal loss. As you said, CEX.IO's best trait is flexibility, and these contracts are the same.



Title: Re: My cloud mining experiment
Post by: botolo86 on April 05, 2014, 01:25:12 PM
Hello Guys,

Sorry for the late reply. Here is the daily update. No particular news here, just regular mining.

https://i.imgur.com/sOsuc4a.png


Title: Re: My cloud mining experiment
Post by: raskul on April 05, 2014, 01:34:01 PM
Hello Guys,

Sorry for the late reply. Here is the daily update. No particular news here, just regular mining.

all good... i know that you are going on GH/s already purchased, but just to note PBMining have just reduced prices to 0.0064btc / GH/s


Title: Re: My cloud mining experiment
Post by: botolo86 on April 05, 2014, 01:35:15 PM
all good... i know that you are going on GH/s already purchased, but just to note PBMining have just reduced prices to 0.0064btc / GH/s


I have seen it, thanks! But they are currently sold out  >:(


Title: Re: My cloud mining experiment
Post by: raskul on April 05, 2014, 01:37:17 PM
all good... i know that you are going on GH/s already purchased, but just to note PBMining have just reduced prices to 0.0064btc / GH/s


I have seen it, thanks! But they are currently sold out  >:(

sorry i wan't meaning that you should go buy some! I just wondered how you would include this in future comparisons?


Title: Re: My cloud mining experiment
Post by: botolo86 on April 05, 2014, 01:38:44 PM
sorry i wan't meaning that you should go buy some! I just wondered how you would include this in future comparisons?

Sorry, I misinterpreted you! I think the new price should not influence the current spreadsheet, unless I buy new GHS with them. In that case, I would add the BTC paid for the new GHS to the total BTC invested and I would gauge the gain accordingly. Any suggestion?


Title: Re: My cloud mining experiment
Post by: raskul on April 05, 2014, 01:40:08 PM
sorry i wan't meaning that you should go buy some! I just wondered how you would include this in future comparisons?

Sorry, I misinterpreted you! I think the new price should not influence the current spreadsheet, unless I buy new GHS with them. In that case, I would add the BTC paid for the new GHS to the total BTC invested and I would gauge the gain accordingly. Any suggestion?

hey it's your baby!  ;) just had a thought tho.. I suppose prices on cex are always fluctuating also, so stick with the original comparisons i think .


Title: Re: My cloud mining experiment
Post by: metraque on April 06, 2014, 04:49:16 PM
I'm sorry, but my gut says that you'll never breakeven.


Title: Re: My cloud mining experiment
Post by: raskul on April 06, 2014, 05:32:07 PM
I'm sorry, but my gut says that you'll never breakeven.

the first contract i bought with PBMining - at the end of february is halfway to break even. i'd say another 2 months, or 3 if difficulty rises are harsh before positive roi.


Title: Re: My cloud mining experiment
Post by: croato on April 08, 2014, 07:32:21 AM
I dont like CEX messing things up with fiat and rising fees. Only way to make profit there was trading GHS and now they will ruin that. Most possibly i will withdraw my funds there and go somwhere else. Any toughts?


Title: Re: My cloud mining experiment
Post by: byt411 on April 08, 2014, 12:59:42 PM
I dont like CEX messing things up with fiat and rising fees. Only way to make profit there was trading GHS and now they will ruin that. Most possibly i will withdraw my funds there and go somwhere else. Any toughts?

I say you buy a bunch of FHA and dump them the second it converts into GHS, since price will fall.
Or wait for their scrypt cloud, that might give us a possibility to earn more.
Anyway, it still has a 0.001BTC fee on withdrawals.


Title: Re: My cloud mining experiment
Post by: robinjoo1 on April 08, 2014, 01:08:34 PM
you all know you can already mine scrypt multi pool
http://prntscr.com/383py9


Title: Re: My cloud mining experiment
Post by: raskul on April 08, 2014, 01:09:24 PM
http://scryptguild.com



Title: Re: My cloud mining experiment
Post by: robinjoo1 on April 08, 2014, 01:14:45 PM
yeah and this secret url
https://ghash.io/multipool_beta

thats beta url


Title: Re: My cloud mining experiment
Post by: botolo86 on April 10, 2014, 05:05:24 PM
Hello everyone,

Sorry for the late update. I have decided to sell all of my GHS from CEX, cash in and use this amount of BTC to buy additional GHS from PBMining.com. I took this decision mostly because CEX stresses me out. Every time I see that GHS price goes down, I feel like I am loosing money. PBMining is a more straightforward investment for me. You buy GHS, you get weekly payouts and that's it.

At this point, profitability calculations do not make sense anymore, as mining with PBMining will be profitable if difficulty stays low, it will not be profitable if difficulty keeps on going up 20% all the time.

In conclusion, here is my feedback from the whole experience of cloud mining:

  • Nimbus mining is the best service out there. You know they have hardware and you can point the GHS to any pool you want. Unfortunately, it's way too overpriced and I would not recommend it to anyone, as long as the price stays the same
  • CEX is the most flexible service, it is very likely that they have the hardware but you always wonder whether they play with the market or not. In any case, it is not a good solution for me because I am always tempted to sell my GHS as soon as I see its price going down...and if you sell, you loose for sure
  • PBMining is my top choice right now. There is the huge issue about the uncertainty of their service, as they refuse to provide proof that they have hardware. In any case, so far their service has worked, I have received two weekly payouts to my Bitcoin address and customer support has been excellent.
  • Profitability with cloud mining is a big "?". You will never break even with Nimbus. You may break even with CEX if GHS value don't go too down. You may break even with PBMining if difficulty stays down and if the company really has hardware.
I hope you enjoyed this little experiment. If you would like to send me a "thank you", just donate whatever you feel fair to my BTC address in my signature.

Keep the passion alive!


Title: Re: My cloud mining experiment
Post by: raskul on April 10, 2014, 05:23:43 PM
thanks for all your efforts, it's been fun to read.


Title: Re: My cloud mining experiment
Post by: raskul on April 10, 2014, 08:12:37 PM
I agree with your conclusions about mining with cex.io and pbmining.com
I have accounts with both companies, and currently pbmining.com performs best.
It definitely has the lowest rates of 0.0064 BTC/Ghs for a 5 year contract, but you should not invest a huge amount.

pbmining.com

this is still market speculation, however you look at it, never pay out more than you can afford to lose.

CEX.IO offers now also Future Minning contracts which start 26th April 0.0081 BTC/Ghs (FHA) and 26th May 0.0041 BTC/Ghs.
This looks very atttactive to me and the rates are comparable with pbmining now, and you have the security of mining with the market leader in cloud mining.

CEX.IO

'the market leader in cloud mining' I will have to dispute, what they do is allow you to trade GH/s on ghash.io; being the biggest pool does not in any way make you the market leader, more rather - the easiest option for many.

It also gives you the flexibility to convert your Ghs back to Bitcoin after a month or so if you think it doesn´t pay off.
The trading platform is great, and its a lot of fun anyway. You can start with 0.5 BTC if you want or even less.
under your proclamation you should have the text;
^^advertisement^^

yes, we know all about both these companies, hence why we were interested in the OP in the first place.

 ::)


Title: Re: My cloud mining experiment
Post by: Don007 on April 11, 2014, 02:32:40 PM
I bought some Gh/s on Cex.io earlier after reading this experiment. The possibility to sell your Gh/s made me choose for Cex.io.

I might buy more of those Future Mining Cotnracts (FHA & MHA) soon :D.


Title: Re: My cloud mining experiment
Post by: LindsayJewels on April 12, 2014, 11:36:49 AM
Please stop spamming this thread on CEX chat room. It is unprofessional and simply annoying.


Title: Re: My cloud mining experiment
Post by: raskul on April 12, 2014, 11:43:54 AM
Please stop spamming this thread on CEX chat room. It is unprofessional and simply annoying.

really? i would imagine it is also counter-productive, people who use that chat will surely already be referred-to on CEX?
who is doing the spamming?


Title: Re: My cloud mining experiment
Post by: LindsayJewels on April 12, 2014, 12:04:22 PM
Please stop spamming this thread on CEX chat room. It is unprofessional and simply annoying.

really? i would imagine it is also counter-productive, people who use that chat will surely already be referred-to on CEX?
who is doing the spamming?

Username: rayennss

Assumed he was the thread author.


Title: Re: My cloud mining experiment
Post by: raskul on April 12, 2014, 12:11:09 PM
Please stop spamming this thread on CEX chat room. It is unprofessional and simply annoying.

really? i would imagine it is also counter-productive, people who use that chat will surely already be referred-to on CEX?
who is doing the spamming?

Username: rayennss

Assumed he was the thread author.

well you can rest assured it wasn't me. wouldn't touch CEX with a bargepole  :D


Title: Re: My cloud mining experiment
Post by: Koko on April 16, 2014, 11:24:52 AM
I invested a small amount into pbmining a while ago, so far so good.


Title: Re: My cloud mining experiment
Post by: raskul on April 16, 2014, 09:35:01 PM
I bought some Future Mining contacts on CEX.IO today which start mining on April 26th.
The price is currently arround 0.0081 to 0.0082 BTC/Ghs.
I guess the price will rise now, since its ony ten days until these contracts will start mining.
Take a look at CEX.IO


what a ridiculous price per GH/s... you do realise we are looking at difficulty rise in the next few hours, don't you?
You will never break even on that price, sell it while the going is good, and please; stop spamming this thread with links.


Title: Re: My cloud mining experiment
Post by: Don007 on April 16, 2014, 09:48:04 PM
I bought some Future Mining contacts on CEX.IO today which start mining on April 26th.
The price is currently arround 0.0081 to 0.0082 BTC/Ghs.
I guess the price will rise now, since its ony ten days until these contracts will start mining.
Take a look at CEX.IO


what a ridiculous price per GH/s... you do realise we are looking at difficulty rise in the next few hours, don't you?
You will never break even on that price, sell it while the going is good, and please; stop spamming this thread with links.

Do you think you will never break-even at that price?  (Due to the increasing difficulty).

And Kaching, you're not allowed to use referal URL's (I didn't know that either, but I heard it a couple of days ago).


Title: Re: My cloud mining experiment
Post by: XScrypt on April 17, 2014, 04:57:09 AM
I bought some Future Mining contacts on CEX.IO today which start mining on April 26th.
The price is currently arround 0.0081 to 0.0082 BTC/Ghs.
I guess the price will rise now, since its ony ten days until these contracts will start mining.
Take a look at CEX.IO


what a ridiculous price per GH/s... you do realise we are looking at difficulty rise in the next few hours, don't you?
You will never break even on that price, sell it while the going is good, and please; stop spamming this thread with links.

Do you think you will never break-even at that price?  (Due to the increasing difficulty).


Never. Use their calculator. The default is 100 GHs. At the current rate of difficulty increase that 100 GHs will earn you BTC for 6 months, then you will start losing money due to fees and whatnot. During that 6 months you'll get about .53 BTC, but it will cost you .82 BTC to buy the 100 GHs.

Not exactly the best investment.


Title: Re: My cloud mining experiment
Post by: jseppeli on April 17, 2014, 05:22:25 AM
Quote
Internal Server Error

The server encountered an internal error or misconfiguration and was unable to complete your request.

Please contact the server administrator, webmaster@btc-arbs.com and inform them of the time the error occurred, and anything you might have done that may have caused the error.

More information about this error may be available in the server error log.

Additionally, a 500 Internal Server Error error was encountered while trying to use an ErrorDocument to handle the request.

Apache/2.2.26 (Unix) mod_ssl/2.2.26 OpenSSL/1.0.1e-fips mod_auth_passthrough/2.1 mod_bwlimited/1.4 FrontPage/5.0.2.2635 Server at btc-arbs.com Port 443

Seems they have not patched OpenSSL yet...


Title: Re: My cloud mining experiment
Post by: jseppeli on April 21, 2014, 03:09:09 PM
Well the price for the FHA contracts on CEX.IO (https://cex.io/r/0/erohne/0/) which start mining on the 26th of April which is 5 days from now keep rising.
Current Price ist 0.0083 BTC/Ghs compared to 0.0094/Ghs for contracts which start mining now.
Looks like a good short term invenstment 5 day for me. Look at the charts yourself at CEX.IO (https://cex.io/r/0/erohne/0/)
 

Not a bad idea but be sure to sell them exactly the minute they are added to trade.
If the price is not the same by then it is going to drop quickly to about the FHA price.
ATM the cex price is 0.00923...


Title: Re: My cloud mining experiment
Post by: raskul on April 21, 2014, 03:11:04 PM
Well the price for the FHA contracts on CEX.IO which start mining on the 26th of April which is 5 days from now keep rising.
Current Price ist 0.0083 BTC/Ghs compared to 0.0094/Ghs for contracts which start mining now.
Looks like a good short term invenstment 5 day for me. Look at the charts yourself at CEX.IO
 

I bought some Future Mining contacts on CEX.IO today which start mining on April 26th.
The price is currently arround 0.0081 to 0.0082 BTC/Ghs.
I guess the price will rise now, since its ony ten days until these contracts will start mining.
Take a look at CEX.IO


what a ridiculous price per GH/s... you do realise we are looking at difficulty rise in the next few hours, don't you?
You will never break even on that price, sell it while the going is good, and please; stop spamming this thread with links.

again.


Title: Re: My cloud mining experiment
Post by: croato on April 30, 2014, 04:49:52 AM
Cex.io was cloud mining and no fee trading platform and at first i have earned few coins but now when ghs price halved and trading fees was introduced and working noone can make profit in long terms. you can only loose coins there. at least i realise cex is only scam.  only cex and few whales can make profit from there and i have lost allmost half of my investing there like most of users too. not recomended.


Title: Re: My cloud mining experiment
Post by: Dannie on April 30, 2014, 08:39:25 AM
Cex.io was cloud mining and no fee trading platform and at first i have earned few coins but now when ghs price halved and trading fees was introduced and working noone can make profit in long terms. you can only loose coins there. at least i realise cex is only scam.  only cex and few whales can make profit from there and i have lost allmost half of my investing there like most of users too. not recomended.

You should do some research before investment, and you should know the drop in GHs Price is inevitable with the uprising difficulty.
The introduction of trading fees may make the situation worst, but the GHs price has always been overpriced.


Title: Re: My cloud mining experiment
Post by: croato on April 30, 2014, 11:04:35 AM
true. sure i will think twice next time and do better research before my coins go to another scam site.


Title: Re: My cloud mining experiment
Post by: gagalady on May 01, 2014, 07:49:18 AM
Keep updating your  table  I would like to know how It will go for you, I'm also using pbmining but as i calculate you need at least 3 months to pay everything off, but do you imagine how much difficulty will inrease in that 3 months? So  I don't know Is it even worth It.


Title: Re: My cloud mining experiment
Post by: raskul on May 01, 2014, 04:05:56 PM
Keep updating your  table  I would like to know how It will go for you, I'm also using pbmining but as i calculate you need at least 3 months to pay everything off, but do you imagine how much difficulty will inrease in that 3 months? So  I don't know Is it even worth It.

I had anticipated my first contract with PBMining (february) could have broken even after three months - it's now three months, and it's not going to be this month - more like next month to break even, but hey, I have that contract for another 4 years and 8 months, so all is rosy, no-matter what the difficulty does.


Title: Re: My cloud mining experiment
Post by: Don007 on May 05, 2014, 04:39:09 PM
After all, that is quite a well ROI :). Unfortunately the profits from the break-even point on will be less, but hey, all you mine is profit. 

Well done Raskul ;).


Title: Re: My cloud mining experiment
Post by: KimNam on May 31, 2014, 05:34:29 PM
Keep updating your  table  I would like to know how It will go for you, I'm also using pbmining but as i calculate you need at least 3 months to pay everything off, but do you imagine how much difficulty will inrease in that 3 months? So  I don't know Is it even worth It.

I had anticipated my first contract with PBMining (february) could have broken even after three months - it's now three months, and it's not going to be this month - more like next month to break even, but hey, I have that contract for another 4 years and 8 months, so all is rosy, no-matter what the difficulty does.
any update from your contract, already ROI?
seem BTC price went up from last month, that will help your process to get ROI


Title: Re: My cloud mining experiment
Post by: raskul on June 01, 2014, 04:27:02 PM
Keep updating your  table  I would like to know how It will go for you, I'm also using pbmining but as i calculate you need at least 3 months to pay everything off, but do you imagine how much difficulty will inrease in that 3 months? So  I don't know Is it even worth It.

I had anticipated my first contract with PBMining (february) could have broken even after three months - it's now three months, and it's not going to be this month - more like next month to break even, but hey, I have that contract for another 4 years and 8 months, so all is rosy, no-matter what the difficulty does.
any update from your contract, already ROI?
seem BTC price went up from last month, that will help your process to get ROI

to be honest, i'm no longer monitoring it. My plan was to keep an eye until my first contract broke even. it's broke even now so i'm happy to let it work, i very rarely log in now and when I finally fell outta bed this morning - I'd got some extra BTC in my wallet - it took me the best part of a well-hungover hour to realise where it came from, it was from pbmining lol


Title: Re: My cloud mining experiment
Post by: KimNam on June 01, 2014, 04:30:37 PM
I bought contracts for 5.8 BTC in total at pbmining.com (http://pbmining.com?ref=kaching)
The total payouts including todays sunday payment ist about 4.1 BTC in 12 weeks.
So I am getting all my Bitcoins back after approx. 4 month and the next 4 years and 8 months will be profit, if they stay in the business long enough.
Considering that the prices where at about 0.007 BTC/GHS or higher when I bought my contracts and are now at 0.0044 BTC/GHS the breakeven should be even faster when you buy now. I am sometimes reinvesting my weekly payment so it makes calculations a bit more difficult.
For me it seems to pay off, but it is of course no guarantee for new investments.
how many BTC you get weekly right now?
did you have any active referrals who bought contract from your link?


Title: Re: My cloud mining experiment
Post by: Muhammed Zakir on June 02, 2014, 11:46:27 AM
Thank You For Posting These!  :)
Kindly,
        Muhammed Zakhir


Title: Re: My cloud mining experiment
Post by: akukurangsehat on August 05, 2014, 01:45:02 PM
Wow, this thread is surely give me a fresh air. I still got hesitate of which should I pick. And I think I got the answer already. But wait a sec, which one

you use now ? Just wonder it  ???


Title: Re: My cloud mining experiment
Post by: KimNam on August 05, 2014, 03:36:37 PM
Wow, this thread is surely give me a fresh air. I still got hesitate of which should I pick. And I think I got the answer already. But wait a sec, which one

you use now ? Just wonder it  ???
there's no more profitable cloud mining
if you buy some contracts / GHS, you will not make ROI
bitcoin difficulty rise like crazy :(
even direct mining your own hardware (almost) not profitable anymore