Is cloud mining reliable?

[flyingplows]

Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

there is only one reason, to increase your bitcoin amount, while you can do it with mining, you can't exactly do it with buying alone, unless you go with trading and you are good a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

The thing is that some people still rent them. While there is a demand there would also be a supply. And some people rent a miner for a POW period of the coin that they believe in. In this case they don't need a miner long term and they ''need'' it more than the owner during that special period

[crazyivan]

Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

there is only one reason, to increase your bitcoin amount, while you can do it with mining, you can't exactly do it with buying alone, unless you go with trading and you are good a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

Cause by renting hash ASIC manufacturers reduce the risk. If they sell us hash now, they receive money now, including markup, without being affected by price volatility, difficulty growth, etc.
In other words, they switch variable risk elements to the person who rents hash. Lots of other industries do this.

[Phildo]

Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

there is only one reason, to increase your bitcoin amount, while you can do it with mining, you can't exactly do it with buying alone, unless you go with trading and you are good a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

Cause by renting hash ASIC manufacturers reduce the risk. If they sell us hash now, they receive money now, including markup, without being affected by price volatility, difficulty growth, etc.
In other words, they switch variable risk elements to the person who rents hash. Lots of other industries do this.

Do other industries do it with literal money printing machines?.

Any reason someone has to rent or sell you a machine is a reason that you shouldn't buy it. There's no way for both people to win. You will lose on the transaction unless you get out more coins than you put in (or more coins than you could have bought when you started). All the one's that have given more coins since the first asics have been shown to be scams. If you feel like burning electricity go for it, if you feel like doing the work to pass your space heater off to someone else on a site that lets you resell the hash go for it, there can't be a way for both people to profit off a money making machine that requires no work.

[Amph]

Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

there is only one reason, to increase your bitcoin amount, while you can do it with mining, you can't exactly do it with buying alone, unless you go with trading and you are good a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

this is not about renting but about cloud, if you reach roi, you are good to continue and take pure profit, renting on the other hand will never roi, if from who you rent knows  everything about crypto and sets a non-competitive price(but there are exceptions)

[josephno1]

Scrypt.cc is most likely a ponzi as they have no proof that they mine. In addition their link to their forums is dead. Also whenever I contact their customer support, my ticket always happens to magically get deleted. I would trust HashNest or NiceHash for mining and both of them are endorsed by ASIC chip manufactures and HashNest is owned by bitmain who also sells asic miners and has a mining pool

[Phildo]

Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

there is only one reason, to increase your bitcoin amount, while you can do it with mining, you can't exactly do it with buying alone, unless you go with trading and you are good a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

this is not about renting but about cloud, if you reach roi, you are good to continue and take pure profit, renting on the other hand will never roi, if from who you rent knows  everything about crypto and sets a non-competitive price(but there are exceptions)

Cloud mining is either renting miners with a different name or a pure ponzi.

[Gultahin]

Not making a advertisment or so, neither giving a referal... I have been with Scryptcc over a year, already make ROI 4 times in this period, and more for sure, i never had big issues with them, just some delays and some minor problems we all may have. But again don't invest waht you can't afford to lose, no investment is of sure return, neither on btc or fiat.

[CrackedLogic]

No, it's not reliable at all.

If you do make a ROI, which happens very seldom, it's going to take quite some time for you do so. Also if a profit was to be made after that, you'll be looking at only a few satoshis after that. Most of the time the cloud miner that you're looking to invest it is probably a well thought out ponzi scheme like pbmining. In the end, it will fall.

I haven't tried scrypt and looking at the user above me, it seems promising, but in the end, it's still a cloud miner.
It's better for you to buy your own miner and when it can't pull anything more, sell it.

[crazyivan]

No, it's not reliable at all.

If you do make a ROI, which happens very seldom, it's going to take quite some time for you do so. Also if a profit was to be made after that, you'll be looking at only a few satoshis after that. Most of the time the cloud miner that you're looking to invest it is probably a well thought out ponzi scheme like pbmining. In the end, it will fall.

I haven't tried scrypt and looking at the user above me, it seems promising, but in the end, it's still a cloud miner.
It's better for you to buy your own miner and when it can't pull anything more, sell it.

Home mining s long time dead. I do not think buying a miner can make you anything anymore.

Who s gonna buy used up and unprofitable miner?

[Phildo]

No, it's not reliable at all.

If you do make a ROI, which happens very seldom, it's going to take quite some time for you do so. Also if a profit was to be made after that, you'll be looking at only a few satoshis after that. Most of the time the cloud miner that you're looking to invest it is probably a well thought out ponzi scheme like pbmining. In the end, it will fall.

I haven't tried scrypt and looking at the user above me, it seems promising, but in the end, it's still a cloud miner.
It's better for you to buy your own miner and when it can't pull anything more, sell it.

Home mining s long time dead. I do not think buying a miner can make you anything anymore.

Who s gonna buy used up and unprofitable miner?

If home miners are dead what exactly are the cloud miners running that allows them to make so much profit that it's profitable for you after you give them a cut?

[crazyivan]

No, it's not reliable at all.

If you do make a ROI, which happens very seldom, it's going to take quite some time for you do so. Also if a profit was to be made after that, you'll be looking at only a few satoshis after that. Most of the time the cloud miner that you're looking to invest it is probably a well thought out ponzi scheme like pbmining. In the end, it will fall.

I haven't tried scrypt and looking at the user above me, it seems promising, but in the end, it's still a cloud miner.
It's better for you to buy your own miner and when it can't pull anything more, sell it.

Home mining s long time dead. I do not think buying a miner can make you anything anymore.

Who s gonna buy used up and unprofitable miner?

If home miners are dead what exactly are the cloud miners running that allows them to make so much profit that it's profitable for you after you give them a cut?

The fact they pay 4 cents per KWh and you pay 15 cents per KWh if you live in some developed country. The fact that most prominent of them make they own miners so you do not have to pay markup which is usually about 20%. The fact they set up miners in thousands which enables them to take advantage of economies of scale which means much cheaper supporting infrastructure, labor, etc.

[badassbear]

cloudmining = ponzi = scam , if you want to take a risk please ..

[kenscho]

it can be profitable. but it goes 6-12 months for the ROI.
When you are a long therm thinker 3-5 years, then i will be profitable!
but not in 1-2 months!

[crazyivan]

it can be profitable. but it goes 6-12 months for the ROI.
When you are a long therm thinker 3-5 years, then i will be profitable!
but not in 1-2 months!

What is the problem with 6-12 months? People, there are no MAGIC coins which ROI in 2 months. Unless you like to gamble.

[nor9865]

You could check out xPooky's site, www.cryptospot.me. Its a new innovative cloud mining initative that implements a new altcoin into the society as well. Though this may not be for everyone, and also never invest more than you can afford to lose.

[turkandjaydee]

the only way to know that we are renting mining rig is, we can choose our pool.

[crazyivan]

the only way to know that we are renting mining rig is, we can choose our pool.

There are cloud mining servics which provide that as well. It does add a bit to the transparency, not that much to profitability.

[turkandjaydee]

the only way to know that we are renting mining rig is, we can choose our pool.

There are cloud mining servics which provide that as well. It does add a bit to the transparency, not that much to profitability.

exactly, how the hell the other closed cloud mining is profitable?

[favdesu]

I belive some of them are, I just looked at mintsy, it just launched.
It is made by the exhange cryptsy, which I consider reliable.
The problem is that is it not profitable.
Every calcluation I made, the mining contract would come out in the with a minus.
So why could mine?

I used to consider this too. But lost every bit of respect for cryptsy due to their involvement in the Paycoin Scam.