Does it make any sense to cloudmine

[bitcoinmaxx]

Does it make any sense to do cloud mining any more?  Does anyone have any experience with Megamine in the UK?

I have about 10k to spend on the bitcoin play, far to little to buy any hardware....I'm trying to find the best way to invest it.  (I don't want to buy actual coins I don't think there will be a return)

[jonnybravo0311]

There's never any return if you just purchase coins... you will still have the same number of coins at the end as you did at the beginning.  Sure, the value of those coins in USD, GBP, CNY, etc will change over time, but you're doing nothing with the coins other than sitting and holding.

Justin, the managing partner of MegaMine goes by the name joust here on the forums.  He and I have had some very good discussions in the past.  I know he's got actual hardware backing his operation - lots of KNC.

As for cloud mining itself, well, my feelings on the matter are that you're playing the odds and they're stacked even more against you than if you owned your own gear.  Why?  The service providers are there to make a profit, so they're naturally inclined to charge more for a contract.

My advice would be to evaluate owning your own gear vs having your own gear hosted somewhere vs investing in a cloud mining service.  For example, if your power costs are very high, then hosting and cloud mining are better options for you.

[notlist3d]

I would not go with cloud mining.  It just has a lot of bad sites in it's history.

With 10k that is more then enough to buy some equipment and find a host.  You buy the equipment and find a decent priced data center.  With this amount you chances are could go with a uniform set, and go all the same model.

[valkir]

Running yourself some miners (if your electricity cost are low enought) or hosting your gear are the only safe options.

Cloud- mining cant be profitable.

The mining gear are changing to quickly. Company are not able to manage that.

The best advice I can give you is look by yourself. Do the math 

Cheer

Valkir

[ajareselde]

Does it make any sense to do cloud mining any more?  Does anyone have any experience with Megamine in the UK?

I have about 10k to spend on the bitcoin play, far to little to buy any hardware....I'm trying to find the best way to invest it.  (I don't want to buy actual coins I don't think there will be a return)

Look, most of the time, bitcoin cloud mining and bitcoins themselves are inter-connected in terms of profits, so if bitcoin price is falling, theres a good chance that you
will have hard time making some profits on cloud mining also, and vice-versa.

I always advise people to avoid cloud mining bussinesses, since they're mostly scams waiting to happen, ponzi's at best.
Theres that second option of buying hardware and mining yourself, but since most of the miners are profitable for a small period of time only, its also
a very hard to make ROI, plus you have to have atleast some technical knowledge to make some basic repairs in cases of unit failiure.

In the end what do u have, it seams that if you want to make profit, the best way would be to simply invest in bitcoins, and if ure a good trader, i bet u can make much more trading, than u can
in mining.

The real question is, is this the right time to invest into bitcoin, if you believe it is, then like i said, i would just buy coins, and stay away from mining.

cheers and good luck

[Hazir]

Does it make any sense to do cloud mining any more?  Does anyone have any experience with Megamine in the UK?

I have about 10k to spend on the bitcoin play, far to little to buy any hardware....I'm trying to find the best way to invest it.  (I don't want to buy actual coins I don't think there will be a return)

It turned out that most of cloud mining serviced in the past was in reality ponzi pyramid schemes. if you really want to earn fast money you would be better just to invest in real Ponzi scheme anf pull out fast with your money. Real cloud mining probably is good enough to cover your investment funds and you won't earn much at all.

[Phildo]

All the reasons someone would legitimately offer you cloud mining are reasons that you shouldn't do it.

What do you mean that you "don't want to buy actual coins?" That's what mining is, you are buying a machine/hashpower that will generate coins. They are the same thing. You can get the coins directly, or get the coins spread out over time, either way you are buying coins.

[crazyivan]

Does it make any sense to do cloud mining any more?  Does anyone have any experience with Megamine in the UK?

I have about 10k to spend on the bitcoin play, far to little to buy any hardware....I'm trying to find the best way to invest it.  (I don't want to buy actual coins I don't think there will be a return)

In case you develop a viable tactics to reinvest large chunk of you payments and are ready to accept 12 months ROI, I can you can still make money with cloud mining. All this under condition we do not see those 40% a month diff growth adjustments anymore.

Also, always choose a cloud mining option where you can sell your hash and exit, I m not sure if Megamine s got this. Hashnest and Bit-X do have this.

[yeponlyone]

Does it make any sense to do cloud mining any more?  Does anyone have any experience with Megamine in the UK?

I have about 10k to spend on the bitcoin play, far to little to buy any hardware....I'm trying to find the best way to invest it.  (I don't want to buy actual coins I don't think there will be a return)

In case you develop a viable tactics to reinvest large chunk of you payments and are ready to accept 12 months ROI, I can you can still make money with cloud mining. All this under condition we do not see those 40% a month diff growth adjustments anymore.

Also, always choose a cloud mining option where you can sell your hash and exit, I m not sure if Megamine s got this. Hashnest and Bit-X do have this.

You might be able to exit with less loss but chances are, when the possibility of roi decreases, the share prices also decrease. you would still make a loss either way. this doesn't protect you if the company decides to run away.

[marcotheminer]

If you can trade well you can purchase GH/s and then sell them when you want for profit. https://bit-x.com allows this.

[crazyivan]

If you can trade well you can purchase GH/s and then sell them when you want for profit. https://bit-x.com allows this.

Yup, lots of people do this and they find cloud mining to be just a bonus.

[Amph]

If you can trade well you can purchase GH/s and then sell them when you want for profit. https://bit-x.com allows this.

does selling gh/s really work? i mean i see the price all the time stuck at the same value, or minimal corrections(worth like +/- 1/1000)

[marcotheminer]

If you can trade well you can purchase GH/s and then sell them when you want for profit. https://bit-x.com allows this.

does selling gh/s really work? i mean i see the price all the time stuck at the same value, or minimal corrections(worth like +/- 1/1000)

You mine (make BTC) then sell for the principal, which gives you overall profit.