Already happening....

I have quite the suspicsion you work for Gawminers, but that doesn't effect how truthful your comment was.

I have no doubt they have a massive farm of both scrypt and sha mining. I'm talking more along the lines of their hashpoints which they can manipulate in any way shape or form and won't actually require anything beyond a single CPU to mine for everyone. They basically created a fiat coupon system on top of the fiat dollar and it goes against what anyone invested in crypto should be about.

Valuing certain "miners" or "shares" in hash power above other shares should also be a concern. The haunted hashlets, vegas hashlets, etc. It's like saying the first bitcoin that Satoshi mined is more valuable than the one that was just mined. It's all hype and ignorance. Yes, some people are going to make a lot of money doing this, but most people probably will not.

All signs point to Bitcoin being a big game changer. Its not a matter of if , but when.

Day 39 comparison of payments with Genesis Mining and GAW Miners Hashlets.
http://youtu.be/9Erlsr_Uj-c

That will never happen, and even if it did, it still wouldn't fix anything. Rather than warehouses full of ASIC miners, you would see warehouses full of CPU miners.

I agree that the future of mining lies in the "cloud". But I have a question. I purchased a 250GH miner with GAW Miners and I want to know if this was a smart move.

I'd just like to add to this thread with Hashie. We're a new cloud mining service, and we're selling Bitcoin (SHA256) miners from $4.51 per GH. That's some of the lowest rates in the industry.

-Sahra

What happens when one company controls 100% of the Bitcoins mined?  Let's say it happens?  One of two things:  either they can wreck the entire system by messing with the blockchain (unlikely unless they are crazy), or, 'raise prices' by controlling the supply of bitcoins, the same way DeBeers controls (or tries to, and they've done a pretty good job the last few decades or more) the price of diamonds, to extract monopoly profits.  This is Econ101, not controversial.  Some would say monopoly profits will encourage other mining pools to enter, and that's the way it works in theory, but sometimes, due to technological constraints (let's say Discus Fish invents some super-duper ASIC that's 1M times better than everybody else's and threatens to flood the market if any other big miner enters the market and this is known to everybody, etc etc), other firms cannot enter quickly enough, so either the monopolist will get monopoly profits for a long time (DeBeers, maybe OPEC), or, the government steps in and busts them up.

If, at the time, buying at 600$ was cheaper than mining, then those people are still better off today than those who mined coins at a cost higher than 600$.

Buying the coin is better than mine it, I learned my lesson, I'll never make my ROI

you are correct, although gaw is more eficient than doing it at home, ie it costs them less, yet they charge 10 times the cost of doing at home. and again i dont know why you would irrationally justify that, other than you are a paid lacky of gaw or bought into their brainwashing forum where all info is white washed. it wasn't stupid to buy from gaw if they honored there product release info and reduced costs so that the most paid for maintenance was the release date itself and things only got better from there. but they are taking over 10% which is theft.. things got so bad they took 100% of payouts(hashers got 0 btc)..FLAWED FLAWED FLAWED. THATS THEFT... there obviously should be entire threads on profits in there forum with calculations, the only reason not to would be  a dishonest reason. and the declining hosting fees should be extremely transparent, certainly not up even with conversions. and not over 0.013 or 10%. if they cant do business without taking hashing profits then they shouldn't have pretended to be in the business of doing that.

that is bs. you dont pay salaries out of peoples mining. 28nm chips making 120mh would be about 400 watts at the wall without the added benefit of running professional grade power supplies and using efficiency measures, tax breaks,hi use contracts. at 0.10 per kwh that is $28 a month... 120 * 0.08*30days= 288 dollars.so 288-28=260 that is proportional regardless of the mh you are using... so they would be taking $260 a month(just dollars for u people who kept talking dollars)..SORRY THAT IS THEFT. stay away from gaw till they have open fair discussions  , NEVER NEVER NEVER, is that ok. u guys are fake positive trolling. i am not trolling i am saying those calculations are not permitted on their forum-BECAUSE THEY ARE REAL.  after electric for something that just sits and runs u shouldn't have to pay gaw (13*20=260) 13 brand new hashlets a month to take care of your hosting. for this calculation i would say $20 is more than generous.  so $48 a month for for 120mh would be appropriate which would be 0.013 cents per day per mh... way fare..they get maintenance  covered (still pocket a little ie maintenance) and people who hear 8cents and dont do the math are not taken advantage of and gaw still rakes it in

Two stupid newbie questions,

Question 1. If you hoard the coins, received from the cloud mining, until the price of bitcoin increase, would you ROI?

Question 2. I want to buy into cloud mining, but I do not want to switch pools to get the best results. I want it automated, to  mine for me, and preferably mining for BTC.

I have bought some GHs with CEX/Ghash and they mine whatever they feel like, and when they mine Alt, they take maintenance fees in BTC, and this eats up any profits made from mining Alt coins.

When they mine BTC, and take maintenance in BTC it break equal or I profit a bit.

What option is best suited to me, where I am handsoff, but still in a position to ROI?

I have a 10 hour day at work, so I do not have time to switch pools for best results. 

Mining is entertainment? First time I heard that but enjoy