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Author Topic: Is cloud mining is a good investisment for my BTC  (Read 1475 times)
RedhatCAT
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January 21, 2015, 04:12:05 AM
 #21

Not all cloud mining companies are scams or ponzis.

Please check out https://BIT-X.com, their partnership with BitFury (an ASIC manufacturer has been confirmed officially)
Just because a company has actual mining equipment to back up the mining capacity they sell does not mean what they sell is a good deal. Often times the price on cex has been substantially overpriced and anyone that purchased GHs would ultimately have capital losses.
JoelKatz
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January 21, 2015, 04:13:25 AM
Last edit: January 21, 2015, 07:31:29 PM by JoelKatz
 #22

Definitely the first thing to check is that your cloud mining provider is doing actual mining. I would generally tend to assume that anyone who can't provide strong evidence of actual mining is a scammer.

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Stcgold
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January 21, 2015, 04:19:10 AM
 #23

Since almost all cloud mining company payout nearly 0
this is not goog anymore
will be better for you to HLOD your bitcoin Smiley
RedhatCAT
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January 21, 2015, 04:42:59 AM
 #24

Definitely the first thing to check is that your cloud mining is paying for actual mining. I would generally tend to assume that anyone who can't provide strong evidence of actual mining is a scammer.
While this is a valid point, there are somewhat legit reasons to not want to provide evidence of such mining. One would be that the operators of cloud mining would be afraid that their pool accounts would get hacked and have their payout addresses changed. (this is one of many potential excuses). Although it would generally be advisable to not want to deal with companies that are of this small of sizes
Syke
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January 21, 2015, 05:23:54 AM
 #25

While this is a valid point, there are somewhat legit reasons to not want to provide evidence of such mining. One would be that the operators of cloud mining would be afraid that their pool accounts would get hacked and have their payout addresses changed. (this is one of many potential excuses). Although it would generally be advisable to not want to deal with companies that are of this small of sizes

Extremely weak excuse. Take a pool like Eligius. The miners tell the pool what bitcoin address to mine to. There's no "account" to hack.  You'd have to hack the actual miners. If you can't secure your miners, you shouldn't be running a "cloud mining" operation.

Cloud mining operations don't show their hashrate because they don't have it.

Buy & Hold
foxkyu
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January 21, 2015, 07:37:35 AM
 #26

not profitable atm
you can see like cex closed their mining service
better trading for now i think
abstream
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January 21, 2015, 08:41:40 PM
 #27

No, it is not a good investment.
Try lending your coins against an interest rate and collateral.
inigthz
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January 23, 2015, 09:02:00 AM
 #28

Hello,
I have some Bitcoin and I wanted to make them useful.
I am thinking about using a cloud mining provider to earn money with my bitcoin safely.
But is cloud mining really profitable ?
If yes, which cloud mining provider can I take ?
And in which pool should I mine ?

Nope.

Just trading bro.

Become day trader.  Cheesy
skuser
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January 24, 2015, 11:30:48 AM
 #29

Possible yield and ROI calculations for cloud companies considered legit updated live is here:
http://nextdifficulty.com/#roi

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