Is Cloud Mining a Waste of Time?

[RenegadeMind]

I'm trying out some cloud mining on Digital Ocean, and have looked at others, but it seems like they're just stupid expensive for the hashrates that you get.

Is anyone mining profitably?

[CoinCidental]

someone is  :


http://www.coindesk.com/online-thief-steals-amazon-account-mine-litecoins-cloud/

[ratty]

I tried cex.io, but the catch is that your GHS 'shares' go down in value at about the rate at which you generate bitcoins, so you end up with a slight net loss unless you're good at timing the buys and sells. So if you're a day trader that just loves that shit, its fine, but if you simply want to cloud mine bitcoins, I think its too late.

[KingGoon]

i use it only for mining new coins. others coins i earn with trading  

[darthburnstuff]

I opened an account at DigitalOcean and created a droplet, when I went to create a second droplet I told me I had exceeded my limit and to open a ticket to have it increased.  When I did so, this is the response I got:

"Hello!

Cryptocurrency mining is very CPU intensive, and due to the shared nature of our CPU allocations large-scale cryptocurrency mining will seriously affect the quality of service we can provide to the neighbouring servers on the same hypervisors as servers running cryptocurrency mining operations.

So, while we do not specifically prohibit cryptocurrency mining, we do restrict accounts doing so to prevent large-scale operations from affecting our infrastructure.

Therefore, at this time, we do not provide droplet limit increases to accounts currently engaging in this activity. This includes opening additional accounts for the purpose of mining.

We apologize for this inconvenience, but we have to do our best to provide fair usage for all our users.

Regards,
Support Team
DigitalOcean"

So don't waste your time...

[GreekBitcoin]

Those who try to mine non CPU coins or retarded CPU coins that can actually be mined with GPU of course lose money.

Lol at guys that use cloud mining for DOGE!

Cloud is very good for CPU coins like Datacoin,Primecoin and Protoshares. Maybe memorycoin too but untill now it seems not so good.
But it is good for that when you mine at the first month or two of the coin.

For example with every 10 dollars i put on cloud mining for protoshares i got out 150 dollars.

I believe the same will happen for datacoin. But i dont over mine. I see the trends...

The problem with memorycoin is that most cloud services dont have the specific cpu needed for memorycoin to be mined more efficiently.

Furthermore digital ocean for example let you use only 50-60% of core power

[Beeker]

I'm trying out some cloud mining on Digital Ocean, and have looked at others, but it seems like they're just stupid expensive for the hashrates that you get.

Is anyone mining profitably?

cloudmining can be profitable for new coins as at a coins launch you need high hashrate to get coins before the diff shoots up,,  after that just wait till the big miners stop mining and diff drops,,

[Digicoiner]

I'm trying out some cloud mining on Digital Ocean, and have looked at others, but it seems like they're just stupid expensive for the hashrates that you get.

Is anyone mining profitably?

Best things is to take advantage of the free credit offered when you sign up but don't go over the limit.  I've had luck pool mining but no luck solo mining from the cloud.