Experience with cloud mining

[virtualx]

I wonder about this and I've been active on the forum for a long time, but I think it's a beginner question.
What is your experience with cloud mining? Did you make profit?

[Professor Plums]

It's a waste of time from what I gather. Profit seems to be minimal and there's lots of scams out there. Most are just clever;y hidden ponzi schemes. I personally don't think it's worth the risk for such a small roi (if you get one at all). Just keep your bitcoins as an investment instead.

[RappelzReborn]

It's total trash and you will be just wasting your time by doing Cloud Mining . also most of the companies are fake and not really running miners instead of you (that's what cloud mining is about).
I asked the same question couple of days ago and here are the answers I got , maybe they will help you out : https://bitcointalk.org/index.php?topic=1080236.0 .

[waterpile]

I wonder about this and I've been active on the forum for a long time, but I think it's a beginner question.
What is your experience with cloud mining? Did you make profit?

I invested $200 in GAW ponzi cloud mining and was able to withdraw $5 only, I thought they were legit but only to find out that the owner is a thief and a big fat liar. Bit-x seems to be a promising company for me but better invest what you can afford coz alot of cloud mining are actually hidden ponzi scheme

[tiggytomb]

It's total trash and you will be just wasting your time by doing Cloud Mining . also most of the companies are fake and not really running miners instead of you (that's what cloud mining is about).
I asked the same question couple of days ago and here are the answers I got , maybe they will help you out : https://bitcointalk.org/index.php?topic=1080236.0 .

I totally agree, I have been burned twice and have learned my lesson.  Most are fake ponzi schemes you are better off holding your btc or dabble a bit with altcoins, these are also risky but you will at least be in control.  You can also make a buck or two in the gambling section.

[superresistant]

 
If you believe that cloud mining companies would take so much risk just to give you their profit you are totally naive and not ready for the crypto world.

Losing all your savings may teach you something and give you some experience.

Good luck.

[newflesh]

I've yet to hear much positive news about cloud mining so I'd do some serious research before even thinking about investing your btc.

Ponzi's that have already collapsed as predicted:

Code:

PBmining.com          1+2+3+4+5+6+7      => 7/7 = Ponzi
Lunaminer.com         1+2+3+4+5+6+7      => 7/7 = Ponzi
coinsoncloud.eu       1+2+3+4+5+6+7      => 7/7 = Ponzi
Cryptomine.io         1+2+3+4+5+6+7      => 7/7 = Ponzi
hashie.co ("gen1")    1+2+3+4+5+6        => 6/7 = Ponzi
bitcoinlabmining.com  1+2+3+4+5+6+7      => 7/7 = Ponzi 
ltcgear               1+3+4+5+6          => 5/7 = (very) suspicious
hashprofit.com        1+2+3+4+5          => 5/7 = (very) suspicious
minethatcloud.com     1+2+3+4+5+6+7      => 7/7 = Ponzi
CoIntellect.com       1+2+5+6+7          => 5/7 = (very) suspicious
terabox.me            1+2+3*+4+5+6+7*    => 6/7 = Ponzi (pictures are not convincing to me for now, exit strategy involves  60+ days stall tactic)
chabatmining.com      1+2+3+5+6+7        => 6/7 = Ponzi
Ecrypto.co.in         1+2+3+4+6+7        => 6/7 = Ponzi (+ confirmed scam, they are no partners of cex.io)
GenerateBTC.com       1+2+3+4+5+6+7      => 7/7 = Ponz

Likely Ponzi scams that have yet to collapse:

Code:

cloudminr.io          1+2+3+4+5+6+7      => 7/7 = Ponzi 
cloudmining.website   1+2+3+4+5+6+7      => 7/7 = Ponzi
Skycoinlab.com        1+2+3+4+5+6+7      => 7/7 = Ponzi (+ organized by serial ponzi scammer: ?topic=583177.msg10298730)
btcslice.com          1+2+3+4+5+6+7      => 7/7 = Ponzi (+ pays out in reversible paypal ?)
grmining.com          1+2+3+4+5+6+7      => 7/7 = Ponzi
bitcoinmaker.ch       1+2+3+4+6+7+8      => 7/7 = Ponzi 
eobot.com             1+2+3+5+6+7        => 6/7 = Ponzi (+ possible malware/wallet stealing software)
hashwar.co            1+2+3+4+6+7        => 6/7 = Ponzi
bitrush.com           1+2+3+4+6+7        => 6/7 = Ponzi 

Code:

nexusmining.com       1+2*+3+4+5+7       => 6/7 = Ponzi (Guy from Spondoolies says im wrong, but I cant score what I havent seen and he seems to confirm they have no hardware)
minerslab.com         1+2+3+4+6+7        => 6/7 = Ponzi (+ selling hardware that doesnt exist + using purchased "legendary" account) 
bitcoincloudservices  1+2+4+5+6*+7       => 6/7 = Ponzi (+ founded by known scammer  https://bitcointalk.org/index.php?topic=860400.msg9638868#msg9638868) 
scrypt.cc             1+2+3+4+5+6        => 6/7 = Ponzi (preliminary assessment) 
Kryptologika          1+2+3+4+*          => */7 = Ponzi -> passthrough of AMhash which is defunct. Currently operating as fractional reserve/ponzi.
hashcoins.com         ~1+2+3+4+7         => 5/7 = (very) suspicious (user selectable pool requires fee, dc pictures show no miners, linkedin profile doctored, hardware sales very dubious,..)
Zeushash              1+2+3+4+5          => 5/7 = (very) suspicious 

Rest:

Code:

Cryptsy MN            1+2+3+4            => 4/7 = Possibly/partially legit ( + no details on fee structure)
cloudmining.sg        1+2+4+7            => 4/7 = Possibly/partially legit
genesis-mining        1+4+7              => 3/7 = Probably legit (risk of fractional reserve mining)
Megamine.com          1+4                => 2/7 = Probably legit 
Bit-x.com             1+4                => 2/7 = Probably legit (preliminary assessment, partnership confirmed by Bitfury)
pow88.com             1+2                => 2/7 = Probably legit (preliminary assessment)
KNCcloud              7                  => 1/7 = Legit (but as hardware vendor, they broke their promise not to selfmine with more than 5% of customers hashrate )
Hashnest (umisoo)                        => 0/7 = Legit

Obsolete or suspended:

Code:

AMhash                                   => 0/7 = Legit (if you buy directly) / divs momentarily (?) suspended 
Cex.io                4                  => 1/7 = Legit
Cryptx PETAmine                          => 0/7 = Legit
GAWminers             1+4+5+~7           => 4/7*= Possibly/partially legit based on criteria set forth. Based on wider context: more suspicious than a nun squatting in a cucumber field

Have a thorough read of puppets thread: https://bitcointalk.org/index.php?topic=878387.0

You might want to check out the scam accusations board for more detailed info on cloudmining ponzis.

[Xialla]

What is your experience with cloud mining? Did you make profit?

please forget about cloud "mining" and mining generally - buy some BTC a hodl.)

[baristor]

It all depends on how much money u are willing to invest and if u are willing to take the big leap of faith

I have myself 1.4 btc invested returns around 1 btc so far,

Cant complain but is it still a risky business all depends on where you invest your dough

[Rude Boy]

Of course, as above posts cloud mining is just waste of time and also your money. I was bought 20GH/s at grmining.com still i didn't even get ROI. Before they gives daily automated payouts, then weekly. Now i didn't even get any payouts for the last few weeks (may be they changed the payout period to months from weeks, i think).


~Rude Boy

[jacktheking]

What is your experience with cloud mining?

Bad? Not sure. I dont care about my cloud mining account anymore. I forgot my CEX.IO password. And I rarely log into ZeusHash account.

Did you make profit?

No. Profit seem way too long ahead.. :/.

[Vitamin King]

I wonder about this and I've been active on the forum for a long time, but I think it's a beginner question.
What is your experience with cloud mining? Did you make profit?

Six months back I asked the same question to the forum members before investing my money into www.CloudMining.website (ref: https://bitcointalk.org/index.php?topic=852857.0). Most of the people warned me that it is a probable ponzi, but still I took the risk. Today, I'm sitting on profit as the site gave me ROI in around 125 days. Though, a third party cloud mining monitor reported to make ROI with thm in around 114 days...



Source: www.cmmonitor.com/24-cloudmining-website.html

What is your experience with cloud mining?

Bad? Not sure. I dont care about my cloud mining account anymore. I forgot my CEX.IO password. And I rarely log into ZeusHash account.

Did you make profit?

No. Profit seem way too long ahead.. :/.

That is what has happened to all those so called legit mining services, e.g. KNC cloud, CEX.io, AM hash. They created a legitimacy baloon and then was either shut down showing unprofitability or vanished in the thin air. Now, I am more prone to believe that operating a profitable cloud mining operation is impossible in 100% legitimate way.

[Bitdonator]

I tried mining on CCex early this year....
but I only loose my coins slowly because maintenance fees.

be careful with new cloud mining websites,
because most of them is only scam, and disapear after some time.

If you want to cloud mine try Bit-X or Mintsy

[subSTRATA]

I tried mining on CCex early this year....
but I only loose my coins slowly because maintenance fees.

be careful with new cloud mining websites,
because most of them is only scam, and disapear after some time.

If you want to cloud mine try Bit-X or Mintsy

CEX had the highest maintenance fees of any site iirc, bit-x is legitimate though, and I believe scrypt.cc is as well, theyve been around a long time. Also CEX stopped mining as it is no longer profitable, its only an exchange now.

[cakir]

My experiences;
When I started bitcoin there were cex.io I bought 1 ghs @7mbtc and it was total waste of bitcoins (I was buying them from faucet income etc).

Then prices went down dramatically.

After that I bought some hash from Umisoo hashnest. After 2.5 months I sold my hash on market and total mined & sold HR gave me %38 profit.

Then I figured out something. Hashnest market was moving parallel to bitcoin price. Then I started to follow the market. When bitcoin's price dropped I bought HR on Hashnest (generally Umisoo @10-15k sats)  When bitcoin price went up I sold them at least @20k sats each. (Basically HR trading + really low mining revenue).

[virtualx]

IM just new in bitcoin. So, can I ask If this cloud mining is good to earn bitcoins? or can anyone tell me hhow can I earn more bitcoins? thanks in advance.

From the replies I figured that 99% of the cloud miners are scammers and it's not profitable. To get bitcoins have a look at the services section, people pay you for doing some things like sig campaigns.

[Amph]

i've only tried the free trial of some of them, like cloudminr.io, and they are already scamming by reducing the payment of some %, i don't if that is bad luck or what but it looks like it isn't

[melody82]

Hashnest is legit and has a really good return.  I don't understand why some people say the return is low.  I bought in when btc=dollar was ~240.  Has is mor eexpensive now but when I bought in the return was about 3% in 10 days.  If you got those kinds of returns on wal street you would be a legend.  A cd account right now pays 1-2% a year!  Its true that many cloud mining sites appear to be ponzies.  That does not have to mean that they are all bad though.

[Brewins]

No way that cloud mining can be profitable at such small prices. They either are scam or are unfari(they will reduce your earnings after some time).

I prefer gambling, at least I have some chance of winning

[ikydesu]

I wonder about this and I've been active on the forum for a long time, but I think it's a beginner question.
What is your experience with cloud mining? Did you make profit?

Never get ROI.
Being scammed.
Being collapsed.
Worthless.
and now im not invest in cloud mining anymore, although you can find a legit cloud mining here: https://bitcointalk.org/index.php?topic=878387.0


~iki