Bitcoin Forum

I googled and found many options and contradictory reviews, so I thought I'd gather some opinions here.

I've read some old topics but things seem so volatile and to change so fast that I decided to opena  new topic.

I was told by a friend to try eobot, is this a good option?

try hashnest or amhash or genesis mining

Maybe you can try:
http://amhash.com/kaomaoyun.htm

Before you dive into the unprofitable world of Cloudmining or cloudhashing, you'd best serve yourself by reading the following thread by Puppet:

https://bitcointalk.org/index.php?topic=878387.0

Those 3 mentioned (AMhash, Genesis, and Hashnest) are for the most part legit, but just know going into this that ROI and profit are definitely not guaranteed, and the terms of service or conditions can change rapidly with any cloud mining contract.

why not just buy a hosted machine?

Much better off not buying into any of them. If you really want to mine snag a cheap miner and run it at home for fun. Look at Bitmain and Spondoolies...both have affordable miners!

Agreed.  Antminer S1s are less thank $50 easy on ebay.  ANT S3s are dropping fast and I've seen them as low as $150.

Thanks for the replies guys :)

I am not a tech guy so I'm afraid to buy hardware I wont know how to use properly.

neither am I and my 2 antminers (S1) weren't really all that hard.  So many youtube videos and the forums were invaluable. 

Only problem  with them are stupidly high fees. hashnet charge almost 60% in fees so its stupid to mine with them.  Cloud mining can be fairly hard these days as most are very limited on what coins get mined and can often result in a loss.  Eobot has been good but slowing down but do provide a fair amount of new coins to mine and can switch to each coin on the fly and very simple to use.

I would advise against any kind of cloudmining or other hosted mining, the "contract" or terms can change at any time, the place could go up in smoke, the hoster could run with all the funds, etcetc, there are So Many Things that can go wrong, and the return is Very low.

Think about it this way, if the seller of the hosted hashrate, is selling hashrate, that means that you are likely paying More than it's actually worth, otherwise, why wouldn't he just keep the hashrate all to himself?
Cloudhashers make extra profit off their hashrate by charging more than it's worth, because people without a decent amount of starting capital can't afford an Actual peice of mining hardware.

Just my input

Why do you want to mine? If the answer is to get bitcoins, you are almost always going to be better off buying bitcoins.

personally i will suggest you no to go with cloud mining, better you buy hardware and mine bitcoins
in last month we have seen a lot of cloud mining companies turned into scam

Id have to agree and disagree their buying mining hardware is not profitable unless you got free energy or you manage to mine a good alt coin other than BTC plus equipment cost.

To make a solid 1BTC per month your talking at least 2.8TH of mining power that is over 2,800GH of mining power. Then to factor in 2 diff increases over that month of anything from 20% on the high and 2 to 5% being on the low, then to also factor energy costs to and equipment cost. Even buying 3x Bitmain s5 miners Totalling 3.828BTC you would need at least 6 months mining without and diff increases to profit from it and free energy. You be very lucky to even brake even. Too much risk in BTC mining even with alt coin mining you would need to have a good plan with the current markets and value to each coin and right now markets are all dropping and not much increase going on.

Best advise I could give buy Bitcoin hold it and begin to trade it and make better revenue from it and to buy alt coins and spread across the markets that way you take out the risk in having to wait for equipment and then also to mine and wait and then some. Trading can be a lot simpler buy low sell high repeat and make a few good spreads and gain a good return across the time you trade.

I think theoretically large mining operations could be hedging their bets against long-term changes in the market

People have to invest some serious capital to get a major mining operation up and running.  Maybe they are profitable now but BTC is very volatile.

what new equipment will be coming out in 3 months?

what will they be able to earn in 6 months?

how high can the difficulty go in 6 months?

what will the value of BTC be in 6 months?

what unforeseen events could happen and would it cripple them?

why not least out some of their hashing power at say even 80% of what they expect to earn in 12 months?  It'd be a quick recoup of some of their cost.

As the old saying goes, "a bird in the hand is worth two in the bush."

Think about this. 

Lets say you and me open a restaurant.

we invest $60,000 total and expect to earn $120,00 after 1 year.

The day before we open an old Texas oil man comes to us and offers us $80,000 to lease the restaurant for 1 year paid upfront, in full, and at the end of 12 months we get our restaurant back.

You you accept his deal?

Technically we're losing $40,000

OK, so assuming buying a machine wont happen and cloudmining is a bad option what would you recommend I do with the bitcoins I have?

Any opportunities to invest them somewhere to earn more or should I just convert them to cash and move on?

Hold them...or sell and try to buy back more. If you look at Havelock you will see EVERY investment they offer looses coins. Just hold or sell them.

A lot of people would probably keep them at BTC and trade them like a stock.  Someone mentioned $450 is a good time to sell and <$300 is a good time to buy

why do you want to invest your bitcoins? What do you think the price will be in the future? If the price is going to go down, get out now. If the price is going to go up, how will the people you "invest" with be willing or able to pay you back?

I'm ignorant about what options are so I thought I asked before just converting my bitcoins to cash and move on.

I thought cloudmining would be a good option but from the opinions here I see it isn't. I'll probably just convert it to paypal.

Well I personally like to hold my coins for the long term, but it really depends on your finances. Maybe sell some off and hold some just in case we ever start going to the moon. Who knows if Bitcoin will ever take off, but if it does..you will be happy you held!

Edit: also good move not buying into cloud mining..it is always a looser.

I got my bitcoins a bit by accident, someone I did a work for was delaying the payment so much that I decided to take his offer to pay in bitcoins. I only have 3.2 bitcoins. My finances are ok but I don't like the idea of having to wait for years to see if I profit something (I would probably just forget I have them), I was looking for something that could give me some residual income starting now, that's why I looked into cloudmining.

If that's the case just sell them (or use them to buy stuff from places that will accept them so you don't have to deal with exchanges). There are not many (if any) legit investment opportunities.

Agreed spend them or sell in that case. I would not recommend selling them for PayPal via these forums unless the buyer is highly rated..so many scams here.

Hello guys,
And what about Zenhash?

Stay away from all cloud mining services. Every week another cloud mining ponzi collapes.
If you believe bitcoin raises in future, buy some coins and store them safely.

http://amhash.com/ (http://amhash.com/) is cloud mining in the form of stocks, mined coins are received as devidend, you can buy and sell the GH any time you want, price depends on supply and demand and they have low maintenance fees

Never heard of eobot. What is the web address ?

i'm reading this thread, and i can't see no solution...how can we make the price up? i think that's the aim goal of this crypto coin...
Think like an investor, you mine today the next day you get profit...remember the mid 2016 the price will sky rocket or maybe goes down. it depends on us, the MARKET MOVER...Start your crypto as a side project not the main business...
This is the big step for all of us, to change from conventional trade exchange to digital era...just support it, than it will raised like hell...don't speak sceptic or stupid things.

SCAMS are everywhere we can't do shit about it, loose some money it's the risk for being investor, learn and protect your loosing...my suggestion, if you'd like to go cloud than go trough it...but remember choose your cloud wisely, do some research first...

if you scared to LOOSED your money here...Than DON'T...stay your bump out of the crypto...every business have their own risk...be ready to it...i think you know that...

(sorry for my bad english)

be carefull of terabox.me cloudmining service - they dont payout!

also grmining.com - it seems to be scam, too... got only 1 ths there and since one week they inform the users they will payout every sunday - but i recieved not the full payment. i think they will also stop paying next time (it´s only speculation!!)

Its better to do cloud mining if there was a legit service that stood around for more then 1 year.

But most just crumble, based on what I seen so far. The ones who offer it, I suggest looking into if they are a asic producer so they can back up by creating more miners if they needed to, so like bitmain is a perfect example to go with.

Anyone outside of being an actual asic producer you are just risking the performance that they dont have, which ends up being a ponzi.