Bitcoin Forum

Where are we with cloud mining these days? About a year ago I did CEX.IO, and I believe at that time the maintenance fees were very low, enough that a person could actually make a profit.

I’ve researched around and thought that I found a better alternative in Scrypt.cc; obviously that turned out to be a scam.

Now with CEX the maintenance fees are ridiculous. If my calculations are correct I could have mined a bitcoin in a little under 1 month. But with the massive fees, It’ll take me at least 8 times as long.

The only redeeming quality that CEX has is that I’m able to trade my ghs back into btc. I find this better compared to other cloud mining contracts because…well, you pay a fee and then you get whatever is mined. Originally with CEX I could pay for ghs, mine, and then when I felt I could no longer earn a profit mining, trade my ghs to bitcoin and walk away. Sure I would take a loss on my ghs, but I would still walk away with it plus what I mined.

This post is to see what is next? CEX is no longer worth it, and with my current situation buying hardware would not be a good investment.

Any thoughts and recommendations?

Theres always renting hashrate from miners via sites like betarigs, nicehash/westhash, leaserig

Yah... CEX is not profitable any more. They are just selling on the brand value. U may like to try out cloudmining.website. Current price is 0.001BTC/Ghs. For independent feedback u may like to check => https://bitcointalk.org/index.php?topic=844310.0

Why do you want to do cloud mining?

If you want bitcoins, why don't you just buy them? there aren't any bitcoin miners for sale right now that will generate more bitcoins than you can buy, so how do you think you will be able to make a profit if you add an extra middleman to the process?

Yeah. Cex is terrible with such ridiculous maintenance fees. If there is a big company build a great trading GHS << >> Btc platform and friendly UI. Cex will likely be shutdown because of their limitation on lowering cost for customer and cannot compete anymore. (cos they operate in UK, elctricity and everything are expensive overthere)  ;D

CEX.IO was charging high fees when they had a share of 30% of the total network, and still are they.

They only have around 18% of the total network now, it will take them longer to find blocks which means the fees will be higher.

AMHash. It's ASICMiner's cloud mining service so you know they're not a ponzi. It's on Havelock, so not only can you buy and sell Gh/s, you can buy and sell all kinds of securities if day-trading is your thing.

AMHash has a low up front cost of <1.2 mBTC and a low maintentance fee of $0.00163 per Gh/s per day.

Is asicminer the only hardware maker with a cloud mining site? I don't think that making your own hardware proves anything besides the fact that they have the physical miners and having the miners doesn't put them above the others.

I'll assume that was a typo because a cloud mining service without miners is simply a ponzi. As for other manufacturers that offer cloud mining, Spondoolies, Bitfury, and Avalon don't. Bitmain does, but their offer isn't as good:

<1.26 mBTC per Gh/s,
$0.001908 per Gh/s per day maintenance fee.

I meant that having their own (i.e. made by them) hardware doesn't make them more legit, just like the prices. The lower they are the more desperate the company looks.
You forgot about KNC and there are some other examples in scrypt like Zeus.

I read on cex.io :
1 GHS maintenance = $0 . 1 0 5 per month which means 0.00345$/day/GHS which is 80% higher than Bitmain


Maintenance are not relative to how many blocks you find

Being a manufacturer has the clear advantage of getting miners at cost which allows those manufacturers to offer lower prices, especially when they have access to cheap electricity too. There's also the advantage of getting new miners based on new chips first, cutting costs even further.