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Author Topic: Too many mining site were closed?Halving is near what happen to the bitcoin?  (Read 1644 times)
morantis
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June 29, 2016, 04:41:37 AM
 #21

bear in mind that a company that is really using hardware is renting out that hardware because they realized that the cost of running the hardware does not get covered by the revenue generated.  they discovered that(not real numbers) for every $1 they spend, they are making 90 cents.  at that point they can either quit or increase revenue.  so, they would then charge you $1.10 for the same amount of "work". that means that you are paying for the overhead and fixing the upside-down hardware issue.  the only reason a person should mine with a company that is doing this is because it is cheaper than buying Bitcoins from a site like localbitcoins or whatever and they want bitcoins.  that means they would want to pay FIAT for the GHS.  A company that has gotten approved for that may be worth the trust, maybe

the other option is the semi-ponzi, X revenue continues to come in day by day and that revenue pays out to those that have made a purchase Y number of days in the past.  those sites will run for an unknown period of time and then disappear.  if you choose to chance it, do it quick in the first days of business because there have been some that have lasted less than a week

the only true profitable mining rental business model would be using multipool tech and would be a bear to run.  this would literally be a company that has an ever changing "hedge" fund of coins mining and trading.  for example, you pay them $1 for an amount of mining power.  two months ago the company may have used that money and the money of others to mine ether and then three weeks ago they took that sliding down ether and exchanged it bitcoins, which were around $430.  now, if they did this right, your $1 would be worth a minimum of $1.75 and last week it would have been around $2 because bitcoin was wild.  while the words GHS would be used and mining would be done, you are really paying for the expertise of the investor at watching and switching coins and mining when the mining is good.  A good hedge fund manager with stocks charges 10%, so you paid your $1, bailed when it was worth $2 and got a withdrawal of $1.80 for a total profit of 80 cents. but, the markets are fickle and the site should at least admit that it is a rough investment land and you may lose out altogether
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June 29, 2016, 04:47:52 AM
 #22

It's Cloud Mining site that pretends that they are mining but in reality they are not so eventually those cloud mining site will collapse or run away with investors money because they only pay money from new or fresh investments. They cant even show photos of their rigs or their operation. Scripts of this type of websites are even readily available in web for a few bucks. Bottom line, never ever trust those cloud mining sites.
Not all cloud mining site is true mining many is ponzi scheme so be careful when you join this kind of ponzi.  All of them will close and run some other day If the accumulated funds is enough for him.

Except HashNest. They're owned by Bitmain. Therefore, they have the full capability to produce mining hardware.

Ponzis and other cloud mining services usually fall because they could't acquire and/or upgrade their mining hardware or they could't keep up with other tech giants.

Bitmain, on the other hand, just produced a 16nm Bitcoin ASIC chip and shipped 16nm-based miners (Antminer S9).

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June 29, 2016, 04:53:43 AM
 #23

mining site = cloudmining ; when closing down it means they were ponzi schemes that reached their maximum potential scam and then ran away with the money, it has nothing to do with bitcoin, halving, and the future.
and don't worry, give it a while then see a lot of other cloudmining sites with new names growing like mushrooms and start scamming again.

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June 29, 2016, 04:55:50 AM
 #24

why does a company never pack a warehouse with rigs and run them using solar power.  pretty moderate initial investment, but they electricity is the main cost and it would be elminated
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June 29, 2016, 05:17:58 AM
 #25

It's Cloud Mining site that pretends that they are mining but in reality they are not so eventually those cloud mining site will collapse or run away with investors money because they only pay money from new or fresh investments. They cant even show photos of their rigs or their operation. Scripts of this type of websites are even readily available in web for a few bucks. Bottom line, never ever trust those cloud mining sites.
Not all cloud mining site is true mining many is ponzi scheme so be careful when you join this kind of ponzi.  All of them will close and run some other day If the accumulated funds is enough for him.

Except HashNest. They're owned by Bitmain. Therefore, they have the full capability to produce mining hardware.

Ponzis and other cloud mining services usually fall because they could't acquire and/or upgrade their mining hardware or they could't keep up with other tech giants.

Bitmain, on the other hand, just produced a 16nm Bitcoin ASIC chip and shipped 16nm-based miners (Antminer S9).
Good to see that there is still cloud mining site that is legit and trusted and also owned by a good company. I will try to search some info first about that site just to make sure that it's true and i will all out my bitcoin for that site to get passive income easily Grin. Thanks for you recommendation man Cheesy.

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June 29, 2016, 06:15:27 AM
 #26

they were not real cloud mining sites and most of them are ponzi because could not showing the real proof that they the real cloud mining and i think the cause they were closed because they already reach target money and may be that's why they shutting down without warning such as the last one hashocean

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June 29, 2016, 07:07:36 AM
 #27

they were not real cloud mining sites and most of them are ponzi because could not showing the real proof that they the real cloud mining and i think the cause they were closed because they already reach target money and may be that's why they shutting down without warning such as the last one hashocean

There in lies the true problem my friend. People do not know the difference between real cloud mining operations and Ponzi schemes. I have yet to see anyone experienced enough to do a proper audit on these companies to determine if they are a Ponzi or if they generate their profits from real mining being done.

Until someone do a proper audit, and keep on doing that, we will never know which is real or which is fake. ^hmmmm^

A company can have a small mining farm as a front for the Ponzi scheme at the back, but only someone with good Bitcoin experience and also bookkeeping knowledge, will be able to spot the difference. If there are no concrete proof of mining, it is most likely a Ponzi. ^smile^

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June 29, 2016, 07:14:21 AM
 #28

Halving is near what happen to the bitcoin you say it right the halving will affect the miners because it is not profitable for them to mine only
when you have a big mining company only then you will make profit.
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June 29, 2016, 07:15:52 AM
 #29

who can we trust about mining?do we have any source on how to get bitcoin?
None of them will continue to pay their investores as long as halving is near..
Thier only goal for now is to collect btc and go offline when somebody dumped a huge invest.
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June 29, 2016, 07:27:13 AM
 #30

who can we trust about mining?do we have any source on how to get bitcoin?
All cloud mining are just out there to scam so never trust any of them. And i don't find any relation between coming bitcoin reward halving and those cloud mining shutting down. They run away when they think they have enough coins for their remaining life.
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June 29, 2016, 07:31:26 AM
 #31

who can we trust about mining?do we have any source on how to get bitcoin?

cloud mining sites are fake. and they will close for sure. trust on your own arms and do your own mining, or do any other job/work to earn bitcoin. investing in ponzi cloudmining is not a way to earn bitcoin.
there is big deference between cloudmining and actual mining.. cloudmining are designed to scam people. there is no any bitcoin is being mined in cloudmining. so that will not effect bitcoin and the price of bitcoin at any cost.
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June 29, 2016, 07:32:08 AM
 #32

who can we trust about mining?do we have any source on how to get bitcoin?
All cloud mining are just out there to scam so never trust any of them. And i don't find any relation between coming bitcoin reward halving and those cloud mining shutting down. They run away when they think they have enough coins for their remaining life.
Well, at least with the halving they have an excuse to do so  Grin
Maybe it helps those people to have a kind of excuse to forget that they scammed a lot of people...
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June 29, 2016, 07:37:26 AM
 #33

Actually they are not mining, Most cloudmining site actually ponzi. They dont even have mining equipment.
What they need is to take much investor to invest their money and after the owner get much money they ran away

If you want mining just buy your own mining equipment and mining for yourself, it will not turn into scam
But Difficulty will increase, turning your equipment purchase into a bad investment.
One altcoin exchanger once offered Mining Shares which had been tradeable, but scammish too.
The whole process of distributing new coins needs an overhaul.

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June 29, 2016, 07:38:57 AM
 #34

Cloud mining sites are not doing any kind of mining in reality they are using just fake statics, it is not worth to make investment in any kind of cloud mining sites and we are going to put all of our money on huge risk there so that beware before to make any invest in these of online mining sites.
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June 29, 2016, 08:10:04 AM
 #35

who can we trust about mining?
you can't really trust a cloudmining service not until they show you any proof on their mining equipment with some pictures. so without proof they are all scams until proven otherwise.
read more about cloudmining here: https://bitcointalk.org/index.php?topic=878387.0

Quote
do we have any source on how to get bitcoin?

buy it!

Quote
Too many mining site were closed?Halving is near what happen to the bitcoin?

mining sites has no effect on bitcoin or even on mining because as i said earlier and as you can read on that topic they are not really mining anything.

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June 29, 2016, 08:16:06 AM
 #36

Off course are they closing because after the halving it is not profitable for them to mine again only the biggest companys will make profit and also
not many profit as you know. The halving cause allot of damage to them and that is not good for the future of the bitcoin.
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June 29, 2016, 08:24:24 AM
 #37

Well it is happening only with cloud mining when they have no source to generate income because they pay plan like ponzi scam so that is why they are shutting down their business and running away with people money, i also think it is not wise decision to put money on that kind of mining sites because they can run away any time.
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June 29, 2016, 08:26:30 AM
 #38

Hashocean is the best example of it and that is really terrible to see how quickly cloud mining can steal people money for just promises of to make consistent income for mining the bitcoin.
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June 29, 2016, 08:28:19 AM
 #39

why does a company never pack a warehouse with rigs and run them using solar power.  pretty moderate initial investment, but they electricity is the main cost and it would be elminated

Yes because the cost in any activity requiring considerable costs. Such as the use of solar power it also requires considerable expense, and I think that all of the cloudmining sites using the ponzi system and do not use the original mining tools
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June 29, 2016, 09:17:59 AM
 #40

anyone buying hash ahead of the halving in a moron imo.

Just like when people bought hash on cex when the projected
difficulty was set to jump way up I wouldnt understand. They
buy ahead of difficulty then lose half its worth in like 2 days

just simple math tells you any mining machine or hash amount
is immediately worth only half whats its worth pre halving.

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