[How To] Get started with Cloudmining

[BeWithYou]

Hey folks,

i'am writing this guide to show you how to gain bitcoins without buying expensive hardware. The technique i use is called cloud-mining.

What is Cloudmining?

Cloudmining is a technique to gain bitcoins through a web server. You pay the hoster to get Gh/s and he will pay you the bitcoins that are mined with the hashing power.


What are the Pros and Cons?

Pros:

+ No hardware required
+ (Most time) no electricity cost
+ You can start with a pretty low ammount of money / investment
+ In the current stage good profit ( up to 5% )


Cons:

- You need to reinvest your bitcoins to let them work.
- The current low difficulty increasment rate can change faster
- You have to choose the right provider.


I'am currently hashing with about 1500 gh/s and doing reinvestment every 2 weeks. Till now it works great!
The reason is the currently low increasing difficulty.


a website that helped me finding a good hoster / provider is: http://www.cloudmining-review.com
another website that helped me to calculate the payout is: https://alloscomp.com/bitcoin/calculator

i realy can recommend this hoster: http://www.cloudmining-review.com/bitcoincloudservices/

if you have any questions or suggestions then simply write them here.


greetings from BeWithYou


edit:

I've attached a picture from my payouts from bitcoincloudservices


http://s4.postimg.org/6n7ddxupp/payouts2.jpg

http://s8.postimg.org/pavbfltlh/payouts.jpg

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[avatar_kiyoshi]

So dont forget to cloud mining based on ponzi scheme, add this thread too: https://bitcointalk.org/index.php?topic=878387.0 (diacussion for cloud mining)

[Athertle]

Does cloudmining-review actually review non-ponzi websites? A few of the websites look a bit shady.

[avatar_kiyoshi]

Does cloudmining-review actually review non-ponzi websites? A few of the websites look a bit shady.

Im not really sure about that site, you can see my post above you, that thread discussion about cloud mining legit or ponzi scheme, afaik hashnet is legit.

[Metadextrous]

What cloudmining service with the lowest min. Gh/s rate to start mining?

[DailyModo]

There are many cloud mining sites starting from 0.0012btc/GHs, check the service announcement subforum and you will find many there

[Metadextrous]

There are many cloud mining sites starting from 0.0012btc/GHs, check the service announcement subforum and you will find many there

My bad for bad words usage that cause you to misunderstood

I mean not the gh/s price, but the minimum amount to start mining. Like, there are some sites that set their minimum purchase to 100 GH/s and i want to know is there any low minimum amount to start mining

[TriggerX]

That's cool! I used to cloud mine myself too. Is cloud mining profitable nowadays? I remember all the popular had to shut down due to the price of bitcoin being so low and the difficulty being so high.

[SirLolicon]

Some CloudMining companies actually try to make it look like it's good for the long term (or maybe ONLY viable for the long term) so people would reinvest constantly until they run away with the money. The people who quickly withdraw got lucky from the reward derivatives..

Always look for proof of mining rigs/gear, and license for their companies and settlements

[teddy5145]

I don't really trust cloudmining anymore somehow 
invested on Hashprofit and it turned out to be a scam months later
and most of cloudmining sites are either scam or ponzi

[SirLolicon]

All cloudminings are lie, if we can get profit by mining.
Why don't they mine bitcoin bu themselves ?

Cloud mining provider sell their hashrate because they could earn more profit by selling it

True. It's hard to mine in the first place anymore since Bitcoin price went real low and maintenance
for rigs MAY cost much more than revenue. That being the case, it's hard to earn a profit as a solo miner,
how would cloud miners earn a profit?

[notlist3d]

Look at this site and make your own opinion. But they main one they recommend is - https://www.bitcoincloudservices.com (removed refferal spam that "review site" adds).  But if you look at this site it's been pointed out the gear looks photoshopped it dips in same spot... it appears they took one rack and kept pasting it to look bigger.

Be careful and research before you cloud mine.  If a site sounds to good to be true chances are it is.  I personally don't agree with this review site on ratings, I think it's based on owners referrals. 

But I could be wrong on any that I speak.  Do research and make your own educated decision.

[Amph]

I don't really trust cloudmining anymore somehow 
invested on Hashprofit and it turned out to be a scam months later
and most of cloudmining sites are either scam or ponzi

the problem is not that they are scam or anything, the problem is the mining, in general, you can't reach roi with or without electricity, so it isn't exactly cloudmining fault...

[TriggerX]

Does anyone have a chart of all cloud mining websites and then the roi of each cloud mining service? I have been deciding on investing in a cloud mining website but I can't find the best one to invest in. Can anyone help me out here?

[pumawolf]

good god ,all the sites that review sites has listed is  garbage, the one that isnt garbage they dont even list. im not gonna advertise for nobody, altho  its not hard to find, if ur not sure  u can pm me.

[Metadextrous]

Look at this site and make your own opinion. But they main one they recommend is - https://www.bitcoincloudservices.com (removed refferal spam that "review site" adds).  But if you look at this site it's been pointed out the gear looks photoshopped it dips in same spot... it appears they took one rack and kept pasting it to look bigger.

Be careful and research before you cloud mine.  If a site sounds to good to be true chances are it is.  I personally don't agree with this review site on ratings, I think it's based on owners referrals. 

But I could be wrong on any that I speak.  Do research and make your own educated decision.

Any advice/link to spot out possibilities of scam-cloudmining?

[cryptojumper]

- You need to reinvest your bitcoins to let them work.
- The current low difficulty increasment rate can change faster
- You have to choose the right provider.

You need to reinvest your bitcoins either way, be it cloudmining or hardware mining (assuming you buy hardware with bitcoins from Bitmain for example). So this is not really a disadvantage compared to mining in your basement in this regard. The second thing about difficulty is relevant no matter if you mine yourself or buy cloudmining too. If the site states that they offer you a contract and have upfront all costs it's mostly a scam or upfront price will be ridiculous to cover all scenarios

[BeWithYou]

well the most significant argument is:

you don't need to buy expensive hardware and don't have to warry about selling it later.


#edit i attached a picture from my payouts. i'am doing it since november 2014 and never had troubles!

[tmfp]

Hey folks,
i'am writing this guide to show you how to gain bitcoins without buying expensive hardware.

No you're not, you've started this thread simply to promote bitcoincloudservices, one of the least convincing of the many ponzi schemes posing as cloud miners, without the slightest proof that they actually mine anything.

the problem is not that they are scam or anything, the problem is the mining, in general, you can't reach roi with or without electricity, so it isn't exactly cloudmining fault...

You are saying that roi is not achievable, but if someone promises roi in say 80 days, then they are not a scam?
That doesn't make any sense.

[crazyivan]

Always ask the same question, photos and the actual minim address. If the service does not want to provide that, walk away and go PoS.
Staking coins in your wallet is a new form of mining.