Bitcoin Forum

When i ask to my friends about mining, they always bring me to cloud mining site, but i think cloud mining similar with hyip. did i wrong ?

hyip = high yield investment, most of them are just ponzis

One losses you money faster than the other typically.  Unless you catch a HYIP on the later portion in which case your doubly screwed.

many hyip are disguised as cloud mining ,caution search and only invest what you can lose .

True and true.
A few cloudmining projects have turned scams already in the past such as Lunamine (thread: https://bitcointalk.org/index.php?topic=675315.0)
A few ponzi have claimed to be investing in bitcoin mining such as CryptcoMiner (thread: https://bitcointalk.org/index.php?topic=762929.0).

You're right, I thought cloud mining = HYIP
And I hate when someone say cloud mining as mining.

I do not want to play anymore HYIP my balance was too much exposed to the scammer

I understand your point. It is similar to hyip sites. Are they really mining bitcoins?

Well, some cloudmining sites show no proof of mining and can't show where the payment to miners came from.
In contrast, cex/ghash has been mining a lot of blocks, though the maintenance fee there is very high.

AFAIK, CryptcoMiner was not a Cloud Mining Website. They offered some kinda weird investment plan like 3%-4% daily !!! Most of the cloud miners are still paying like PBMining, GAWminer etc. though they dont reveal how do they operate.

Yup, CryptcoMiner is a ponzi that claimed to be generating an impossible 3%-4.5% daily profit from mining, and of course it is just a big fat lie.

big diffrent between cloud mining and HYIP. cloud mining give you negative returns and they don't need to scam you to earn a profit. HYIP give super profit they would need to scam you to profit..

Cloud mining is (probably) a real thing with actual minings, HYIP is unsustainable and will crash eventually.

basically suspicious of promises of high profits
https://bitcointalk.org/index.php?topic=764904.0

Thank you. Just like @krishatnet said, are they really mining btc?, no one knows.

HYIP is always a scam and will never last, you can only profit from it if you get in straight from the start and get out before the scammer. Very very difficult unless you know the scammer.
Cloud mining is good if you don't have the hardware but will never give you profit if you put your money in, i.e your Return On Investment will be negative.

You are right! But PBMiing hasn't shown any proof on their mining farm yet. So I don't think they are really mining nor they are ponzi. Still need some proof! ::)

  ~~MZ~~

wait what the fuk is hyip?

HYIP = High Yield Investment Program; as others have noted, a very common scam wrapper, almost always a ponzi

Cloud Mining = buying mining power from others.  As Markov noted, almost impossible to make money, though very popular.  Can also be a scam wrapper.

HYIP dev will scam once they receive enough deposit.
Cloud mining is cex.io is like trading, you need to buy cheap ghs not when it is overpriced.

It is in fact not that hard to separate HYIPs and legit cloudmining sites IMO.
1. Return rate: If the site offers you 3% daily, you should ask yourself if bitcoin mining is really that profitable.
2. Source of hashrate: Is the site producing miners? Or is it partnering with a ASIC manufacturer? Has the site proved the existence of the hashrate?

First point: not necessarily. Some run until they fail (the devs didnt get anything out of it), others do scam deposits tho.

HYIP is an investment program.
if you want mining bitcoins without manage with your own material computer, you can generate btc with cloud mining.

Many cloud mining programs are scams, of course, like HYIPs. But, to cap it all, there are also many cloud mining programs which are honest and reliable, but in this case the problem is that ROI takes always too long to be reached, so I advice you to avoid these programs.

It'll take a very long time to get your ROI on cloud mining, so it's not really worth it except you're ready to wait a very long time.

HYIP means high yield investment programme. They ask you for your funds and promise high interest return rates. Most of the rates are ridiculous, thus, most of them are most likely scams or ponzi schemes.

My advice, stay away from cloud mining.

Cloud mining is legit, should stay away from HYIP..

There's a handful of cloud mining services which a legit. They are certainly more of a long term investment as it takes about 6 months to hit your return on your investment. This ROI is still much better than most investments out there.

What else gives guaranteed payback on your investment every day or week?

what about cex.io? I've read somewhere on forum that it's good. I've checked out the site and it looks dissent, I didn't register thou.

I use it still, its good if you also trade alts and btc to fiat. Mining is always a nice bonus

cex.io offers OVERPRICED and Never-ROI mining contracts. The maintenance fee is 50+% which means they only give you less than half of your profit and take the rest as fees for electricity and datacenter upkeep. Their GHS are way overpriced, 0.002++BTC while other cloud mining contracts offer 1GH at 0.001 with lesser maintenance  fees.

HYIP is always become scam after some time (usually in short period of time)
cloud mining = hyip scheme too, but longer time to screw up
if you see cloud mining, try to ask proof that they actually mining
if they can't provide it, most likely they do hyip and / or ponzi

Cloud mining can be a ponzi, but not necessarily.

At current difficulty and bitcoin price, 1 GH/s hashrate will bring you roughly $0.0045 a day and $0.135 a month (assuming difficulty won't go up). https://bitcoinwisdom.com/bitcoin/difficulty
Cex.io is charging you $0.105 per GH/s per month. https://cex.io/maintenance

So the maintenance fee is roughly 78%, or in other words, you only get 22% of your mining revenue after the maintenance fee.

Cloud mining could be a HYIP if there is no actual mining going on at the back. We have no way to know for certain.

I think the same way, most cloud mining services are likely just HYIPs / ponzis. I'm wondering how the cloud mining services get into  profit zone with the dip of bitcoin price. I actually tried to order some weeks ago, but I read so many negative comments about them, that was enough for me to steer clear