Cloud mining?

[sez1001]

What is the catch with cloud mining?

I see you could purchase 10Th/s for less than what two S7's would cost to buy? 

What am I missing? 

Sez xx

[VirosaGITS]

What is the catch with cloud mining?

I see you could purchase 10Th/s for less than what two S7's would cost to buy? 

What am I missing? 

Sez xx

The electricity cost on the hosting. It make a serious dents on the profit and when the profitability go down, the hosting cost does not so you're left with mostly worthless hash.

[crazyivan]

No point investing into cloud mining anymore, since halving is so close. After the block halves, no current ASIC machine will be profitable unless BTC price goes up big time.

Actually, the only cloud mining service which I can recommend is DMD Diamond cloud, I have reached ROI there after about 18 months and it keeps bringing me profits. The reason behind this is the fact you receive your payouts in DMD Diamond, which is a PoS coin, generates 25% annual interest rate. This speeds up ROI big time. Also, you payouts come from various sources, not only actual cloud. It s been also run by EXTREMELY honest and trustworthy people.

The link is bellow my avatar. No referral or any other shit. Just an honest recommendation.

[shintosai]

No point investing into cloud mining anymore, since halving is so close. After the block halves, no current ASIC machine will be profitable unless BTC price goes up big time.

Actually, the only cloud mining service which I can recommend is DMD Diamond cloud, I have reached ROI there after about 18 months and it keeps bringing me profits. The reason behind this is the fact you receive your payouts in DMD Diamond, which is a PoS coin, generates 25% annual interest rate. This speeds up ROI big time. Also, you payouts come from various sources, not only actual cloud. It s been also run by EXTREMELY honest and trustworthy people.

The link is bellow my avatar. No referral or any other shit. Just an honest recommendation.

I taught no mining cloud is for real now a days but a recommendation coming from a hero member would be worth checking I do looking for this kind of mining investment but it all ended to a hyip/ponzi/crowdfunding it so hard to finding one that will generates good profit, thank you for this sir.

[Phildo]

You are missing that they are all hidden ponzi type scams, or outright scams.

Why would someone rent/sell you 10th for less money than the miners will generate?

[geopolisch]

There are cloudminings that does have a mining farm but most ponzi copies this and disguises theirselves so it's often hard to know which is which.

You are missing that they are all hidden ponzi type scams, or outright scams.

Why would someone rent/sell you 10th for less money than the miners will generate?

[Vitamin King]

What is the catch with cloud mining?

I see you could purchase 10Th/s for less than what two S7's would cost to buy? 

What am I missing? 

Sez xx

U r missing the initial investment cost, longevity, difficulty, bitcoin price etc. 10Ths cost is 7 BTC on www.cloudmining.website and they are paying consistently since 2014 (ref: www.cloudmining.website/payments.php). It is like digging gold alone is unprofitable, but when do it in a large scale, u make huge profit.

[tiggytomb]

From my experience, I joined Genesis mining back in November 2015 but purchased their X11 mining contract for 1 year, they do pay out but the payment amounts are erratic, with the X11 contract they mine some alts and then convert it into BTC I 'should' make ROI in just over 12 months.

In their thread https://bitcointalk.org/index.php?topic=602022.4180 I know some people have been dismayed by the lifetime bitcoin contracts and their payouts but the X11 seems to be working so far for me.  I have been stung by a few scam sites previously when I first started out so I have only looked at Genesis recently.

[crazyivan]

No point investing into cloud mining anymore, since halving is so close. After the block halves, no current ASIC machine will be profitable unless BTC price goes up big time.

Actually, the only cloud mining service which I can recommend is DMD Diamond cloud, I have reached ROI there after about 18 months and it keeps bringing me profits. The reason behind this is the fact you receive your payouts in DMD Diamond, which is a PoS coin, generates 25% annual interest rate. This speeds up ROI big time. Also, you payouts come from various sources, not only actual cloud. It s been also run by EXTREMELY honest and trustworthy people.

The link is bellow my avatar. No referral or any other shit. Just an honest recommendation.

I taught no mining cloud is for real now a days but a recommendation coming from a hero member would be worth checking I do looking for this kind of mining investment but it all ended to a hyip/ponzi/crowdfunding it so hard to finding one that will generates good profit, thank you for this sir.

It gets even better. The way DMD Diamond cloud works is they offer supplemented and fast payouts until you reach ROI which gets reduced after you reach ROI. This means you get 5x payouts until you hit ROI and after that you keep getting 1x payouts. This enables you to get your money back and invest into something else which still earning small daily payouts. A very nice system. I ll gladly provide proof about my ROI to anyone interested. It s not get rich quick scheme but these people re really honest and DMD Diamond has brought me nothing but profits for the last 2 years.

[BitMaxz]

Beware as of now theres no legit cloud mining site.. and cloud mining right now is not profitable you just lost your money.. and wasting your time.. better to join in signature campaign or if you have a lots of money you can start micro lending in lending section you can make interest and collateral and make a profit fast...

[airezx20]

I heard many times in many forums out there that cloud minings are scam and some of them are legit but  i experience before i've scam in other cloud mining site that they are always offer to me to join but in the end scam.. if you remember scrypt.cc is the site domain..

[Snorek]

I heard many times in many forums out there that cloud minings are scam and some of them are legit but  i experience before i've scam in other cloud mining site that they are always offer to me to join but in the end scam.. if you remember scrypt.cc is the site domain..

I was very fond on cloud mining at first when it came out. I thought is is the best way to invest money as you pay for mining and earning on steady rate etc.
But as time progresses and many cloud mining projects turned out to be scams in disguise of mining, it is really hard to determine if cloud mining company is legit.
And now when halving is approaching I think that cloud mining era is finally over.

[aleandromagno]

What is the catch with cloud mining?

I see you could purchase 10Th/s for less than what two S7's would cost to buy? 

What am I missing? 

Sez xx

U r missing the initial investment cost, longevity, difficulty, bitcoin price etc. 10Ths cost is 7 BTC on www.cloudmining website and they are paying consistently since 2014 (ref: www.cloudmining website/payments.php). It is like digging gold alone is unprofitable, but when do it in a large scale, u make huge profit.

This is scam site. Already is opened scam accusation against this service:
https://bitcointalk.org/index.php?topic=1416687.0

[mrcash02]

The catch with clound mining is that almost all of them are HYIP, Ponzi, so GH/s, S7, mining power... don't matter for the site owner. He just want to bring user's money to his pocket. And to make it interesting he promise high rewards (better than any legit unprofitable clound mining site). In the beggining the site pays everybody to lure more and more users, but at a beautiful day when you are almost getting your investiment back the site closes and everybody is scammed.

[GreenBits]

You are being sold uncertainty.

I often have seen the argument "no one would sell you a thing that would be more profitable had they kept it". This is true, to an extent. If you don't factor in time. I could certainly hold this tiny digital little goldmine for a while, until it crunches it's numbers and solves its equations and generates its value, but time is my enemy. What if the difficulty leaps sky high because of my competitors? What if the price of btc crashes to unprofitability?

Perhaps it would be better to sell it to another fellow, and let him deal with that uncertainty. And build a better goldmine with the value he has traded me.

Perspective is invaluable.

[Snorek]

The catch with clound mining is that almost all of them are HYIP, Ponzi, so GH/s, S7, mining power... don't matter for the site owner. He just want to bring user's money to his pocket. And to make it interesting he promise high rewards (better than any legit unprofitable clound mining site). In the beggining the site pays everybody to lure more and more users, but at a beautiful day when you are almost getting your investiment back the site closes and everybody is scammed.

Lets be realistic. If you see cloud mining company which offers you MUCH better terms and promised profits above average then you know something could be wrong.
People who are investing in these type of things knows that too, they risk money because if they are early adopters in Ponzi scheme then they will profit.

[crazyivan]

The catch with clound mining is that almost all of them are HYIP, Ponzi, so GH/s, S7, mining power... don't matter for the site owner. He just want to bring user's money to his pocket. And to make it interesting he promise high rewards (better than any legit unprofitable clound mining site). In the beggining the site pays everybody to lure more and more users, but at a beautiful day when you are almost getting your investiment back the site closes and everybody is scammed.

Lets be realistic. If you see cloud mining company which offers you MUCH better terms and promised profits above average then you know something could be wrong.
People who are investing in these type of things knows that too, they risk money because if they are early adopters in Ponzi scheme then they will profit.

This is why I recommend DMD Diamond. First, it s very realistic, do not expect ROI before 18 months time. No get rich quick promises. Second, the cloud s not striclty based on mining opearations, payments come from other stuff, including lending and staking.

Is it risky? Yes, as any other online investment.

Is it run by honest people? Yes, extremely honest.

DMD Diamond s been around for over 3 years and NOT A SINGLE PERSON HAS EVER BEEN SCAMMED. It says a lot and I dont think there are many other operations which can state the same.

[Phildo]

You are being sold uncertainty.

I often have seen the argument "no one would sell you a thing that would be more profitable had they kept it". This is true, to an extent. If you don't factor in time. I could certainly hold this tiny digital little goldmine for a while, until it crunches it's numbers and solves its equations and generates its value, but time is my enemy. What if the difficulty leaps sky high because of my competitors? What if the price of btc crashes to unprofitability?

Perhaps it would be better to sell it to another fellow, and let him deal with that uncertainty. And build a better goldmine with the value he has traded me.

Perspective is invaluable.

You listed many good reasons why someone who had a miner would rent it out/sell it to someone else.

Those all happen to be the exact reasons why you would be a moron to buy/rent that miner from that person.

[BitMaxz]

I think mining for now is not profitable and i think theres still no legit cloud mining.. better to wait on april after halving maybe someone will start Legit  cloudmining if mining is profitable after halving ends.. for now just hold more bitcoins and collect more bitcoin to make profit after halving..

[GermanGiant]

Is it run by honest people? Yes, extremely honest.

Who are these people ?

DMD Diamond s been around for over 3 years and NOT A SINGLE PERSON HAS EVER BEEN SCAMMED. It says a lot and I dont think there are many other operations which can state the same.

When was it launched ?