Cloud Mining doubts

[eduardomjus]

Hello

Before reading many topics in this forum, because I'm live at Brazil, no way to buy some S7 or S9 or GPU to mine, BTC o ETH whatever ..
Price of electricity is very expensive ... kwh is + or - 9$ per day .. (average)
My question here is: When I talk here about cloud mining, each people indicate to use hashnest.com, but when used cloud mining at cex.io, i did not get good profits, and now, cex.io is not working with cloud mining anymore.
Would it be possible for you to refer me indicate to another cloud mining alternative that can be trusted ?

I have spend a good time to read and calc about values for ROI and found out that it is not a good idea to buy a S7 at hashnest according to these numbers:

initial cost for one s7 = 370$
4860GH/s 
operating cost per day: 7.483$
operating cost per week: 52.38$
operating tcost per month: 224.5$

If this site: https://bitcoinwisdom.com/bitcoin/difficulty and my calculations is correct, to recover the investment of 370$ i would need two months.
Are these numbers correct ?

Is it worth the investment since everiday diffucult increases and ROI decreases ?

Thanks for the help !

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[Xanidas]

Hello

Before reading many topics in this forum, because I'm live at Brazil, no way to buy some S7 or S9 or GPU to mine, BTC o ETH whatever ..
Price of electricity is very expensive ... kwh is + or - 9$ per day .. (average)
My question here is: When I talk here about cloud mining, each people indicate to use hashnest.com, but when used cloud mining at cex.io, i did not get good profits, and now, cex.io is not working with cloud mining anymore.
Would it be possible for you to refer me indicate to another cloud mining alternative that can be trusted ?

I have spend a good time to read and calc about values for ROI and found out that it is not a good idea to buy a S7 at hashnest according to these numbers:

initial cost for one s7 = 370$
4860GH/s 
operating cost per day: 7.483$
operating cost per week: 52.38$
operating tcost per month: 224.5$

If this site: https://bitcoinwisdom.com/bitcoin/difficulty and my calculations is correct, to recover the investment of 370$ i would need two months.
Are these numbers correct ?

Is it worth the investment since everiday diffucult increases and ROI decreases ?

Thanks for the help !

before the halving, you can reach ROI on hashnest in around 3months or maybe + few weeks more and after the halving you could ROI in around 7months if the difficulty don't change. in your calculation, you only compute the operating cost and not the income that you will get. if you want to but hashing power on hashnest, it is better to wait for them to release the s9 as it is much profitable than s7 currently

[jaceefrost]

I doubt you can get a nice time frame to get roi if you are going to invest in cloudmining today. It is no longer profitable. Might as well find another way of making money. Cloudmining these days offers low profit an if it gives a better payout, the chance of it being a ponzi is much greater.

[Herbert2020]

when you invest in a cloudmining service you are taking multiple risks, one of them is what you mentioned the difficulty rise and the bad ROI. but also you are taking another risk which is also bigger and that risk is the risk of them running away. just take a look at hashocean, they were paying until they stopped and ran away.

[senyorito123]

Cloudmining are topic in here nowadays and im very sure that many people now are more aware the risk regarding on investing with it since we all know mostly all of them are scam, and people should really think twice regarding to it since we know that blocks have high difficulty to find thats why most of company now are turningdown their operation And thats the reason really we need to avoid so we will not face money loss with this scheme's.

[BitcoinSupremo]

when you invest in a cloudmining service you are taking multiple risks, one of them is what you mentioned the difficulty rise and the bad ROI. but also you are taking another risk which is also bigger and that risk is the risk of them running away. just take a look at hashocean, they were paying until they stopped and ran away.

How can you compare Hashnest which is backed by the official company that produce the antminers with Hashocean which was just some imaginary cloud mining with imaginary databases around the world. Hashnest will not go away but they maybe stop the mining after some time if its not profitable to resume later when they have better efficiency miners. Hashnest is the number one legit company in cloud mining yet and this will not change unless some other company makes huge huge investments to compete with it, very much unlikely to happen.

To OP Hashnest will be here and not go away , all others may go as they are not backed by real companies like Bitmain is backing Hashnest with its Antminers. Regarding ROI is difficult to achieve because of raising difficulty of bitcoin.

[rphk]

Every one says hashnest is legit site. but not sure it is completely legit , sometimes we have so many sites mentioned as legit are turned in to scam ,in case if you are taking risk it is ok , or it is always mining sites are risky.

[Babayega31]

Every one says hashnest is legit site. but not sure it is completely legit , sometimes we have so many sites mentioned as legit are turned in to scam ,in case if you are taking risk it is ok , or it is always mining sites are risky.

They are a legit company but i dont think they can be called legit investment sites its because mining for today are not really profitable we all know that and if its not profitable anymore where did they get the money to pay out their investor? In pay in? Who knows but really its very risky to invest newly ones there since many investor didnt still get their roi for the long time of investment so better not to look up their to avoid lossing money if they turn down and cannot sustain their business anymore.

[GregH37]

First you said you read many topics in this forum about cloudmining and still you want to invest into them?
I am sure you don't aware of reality of cloudmining sites. you are pretty much loosing your money in a scam site.
I have used some cloudmining sites my self and got scammed and about the rest sites I read reviews and found all cloudmining sites are potentially scammers.
like hashocean, cloudmining.website. and all.

if you have money and want to invest them then find a better source to invest but don't loose them in cloudmining.

[TastyChillySauce00]

First you said you read many topics in this forum about cloudmining and still you want to invest into them?
I am sure you don't aware of reality of cloudmining sites. you are pretty much loosing your money in a scam site.
I have used some cloudmining sites my self and got scammed and about the rest sites I read reviews and found all cloudmining sites are potentially scammers.
like hashocean, cloudmining.website. and all.

if you have money and want to invest them then find a better source to invest but don't loose them in cloudmining.

you can't generalize like that,some cloudmining also have legit service but very few,even you really not encouraged to put all of your trust to some of legit cloud mining site because they still have the potential to turn and scamming people,but just keep in mind that majority of cloud mining is a ponzi,so if you really don't want to lose some money,so don't invest
just see this : https://bitcointalk.org/index.php?topic=878387.0 hope you understand

[TraderETH]

I think it is about Investment in cryptos coins and not cloud mining only, as we know cryptos coins are high risk. And every Investment there are risk so we must make Investment with can lost it.

[samcoin]

the mining before the halving maybe was a bit worthy , but now after the mining difficult has increased I don't think the mining is worth the electricity and other equipment cost , especially if the electricity cost is expensive like what it is in your country , for that , you must choose another method if you want to get Bitcoin .

[Babayega31]

First you said you read many topics in this forum about cloudmining and still you want to invest into them?
I am sure you don't aware of reality of cloudmining sites. you are pretty much loosing your money in a scam site.
I have used some cloudmining sites my self and got scammed and about the rest sites I read reviews and found all cloudmining sites are potentially scammers.
like hashocean, cloudmining.website. and all.

if you have money and want to invest them then find a better source to invest but don't loose them in cloudmining.

you can't generalize like that,some cloudmining also have legit service but very few,even you really not encouraged to put all of your trust to some of legit cloud mining site because they still have the potential to turn and scamming people,but just keep in mind that majority of cloud mining is a ponzi,so if you really don't want to lose some money,so don't invest
just see this : https://bitcointalk.org/index.php?topic=878387.0 hope you understand

Yes eventhough they are legit company one but we cannot really asure that they will not run since we already know that blocks have more difficult to find these year and that could be a financial breakdown to them thats why they really need investor to sustain there company maintenance fee and i dont really be surpriser if one of these days they will shutdown their operation because they are in real trouble that could lead them to lose even more money if they will continue.

[jack1111]

I don't think the mining can worth any thing in these days , because the big companies like genesis mining and others have reduced their profit rates after the halving , although they have cheap electricity and better devices , so these companies failed to make the mining worthy , for that I think the mining won't be profitable any more.

[shinratensei_]

Hello

Before reading many topics in this forum, because I'm live at Brazil, no way to buy some S7 or S9 or GPU to mine, BTC o ETH whatever ..
Price of electricity is very expensive ... kwh is + or - 9$ per day .. (average)
My question here is: When I talk here about cloud mining, each people indicate to use hashnest.com, but when used cloud mining at cex.io, i did not get good profits, and now, cex.io is not working with cloud mining anymore.
Would it be possible for you to refer me indicate to another cloud mining alternative that can be trusted ?

I have spend a good time to read and calc about values for ROI and found out that it is not a good idea to buy a S7 at hashnest according to these numbers:

initial cost for one s7 = 370$
4860GH/s 
operating cost per day: 7.483$
operating cost per week: 52.38$
operating tcost per month: 224.5$

If this site: https://bitcoinwisdom.com/bitcoin/difficulty and my calculations is correct, to recover the investment of 370$ i would need two months.
Are these numbers correct ?

Is it worth the investment since everiday diffucult increases and ROI decreases ?

Thanks for the help !

You just waste all of your time for bad things, the cloud mining is not worthed on this day. try other ways don't just waste all of your time and funds in that place. you can see about the experience from a lot of this member in here about the cloud mining. avoid them, because I care about you.

[eduardomjus]

First I need to say thanks to everyone who answered my questions.

I read here about cloudming is scam ... I said that there is no other way as I was living in Brazil. and sorry, hashnest has years online ... Before years later, I was investing at cex.io cloud (ghash.io ... and dont lose anything ...
Of course, I pay for the risk of losing the investment , but I did not have alternative to income significantly ...

Another question is: anyone know when release the s9 ?

Maybe today I buy only one S7 and wait S9 release to buy more hash power ...

no one investment in the stock market I get generate so many % per day or month, so I pay for the risk ... because at Brazil ... is ridiculous ...
in 2013 bought 10 yellowjacket ... get some BTC in that year ... today I sold all 10 for $ 80 each....
In the same year I was mining at cex.io (ghash) and did not lose anything like I said above ..

I was thinking about DASH and ETHEREUM ... but price per dash or eth is low, and there is no mining cloud for these cryptocurrency ... so ... I have only one way .. buy hashpower in hashnest or not.

Again thank you to all who answered ...

Have a great day

[eduardomjus]

what do you think about ETH or DASH ... crypto alternatives?

I don't think the mining can worth any thing in these days , because the big companies like genesis mining and others have reduced their profit rates after the halving , although they have cheap electricity and better devices , so these companies failed to make the mining worthy , for that I think the mining won't be profitable any more.

[mindrust]

Cloudmining is scam, stay away. You may not get scammed right away but you will when you are about to get your ROI. You will either not getting any bitcoins after a time or the company will just run away with your money. Both are the same thing. They will scam you.

[mobnepal]

I don't think you can earn your investment back within two month as this was not even possible before halving and after current halving it will take more than year i think for you to recover your investment. However i don't trust any cloud mining site as most of them operate with shady environment not all of their opearation and mining power are transparent. So whatever they say and whatever amount of mining power they sell we can't believe on all of those claims of them. So investing in cloud mining is very much risky as you will be giving your hard money to one man or a small company and you will not now how they are operating in real world.

Better to buy real mining hardware and mine yourself near you.

[Perryl]

Every one says hashnest is legit site. but not sure it is completely legit , sometimes we have so many sites mentioned as legit are turned in to scam ,in case if you are taking risk it is ok , or it is always mining sites are risky.

It's as legit as GAW was. For whatever that's worth.

[Perryl]

I don't think you can earn your investment back within two month as this was not even possible before halving and after current halving it will take more than year i think for you to recover your investment. However i don't trust any cloud mining site as most of them operate with shady environment not all of their opearation and mining power are transparent. So whatever they say and whatever amount of mining power they sell we can't believe on all of those claims of them. So investing in cloud mining is very much risky as you will be giving your hard money to one man or a small company and you will not now how they are operating in real world.

Better to buy real mining hardware and mine yourself near you.

You can earn it back in 2 months np. Just mine altcoins... BTC is not the only sha256 coin you know. HVCO was profitable, 2FLAV was profitable during mining, there are a lot of currencies on sha256 that are profitable enough. More get released all of the time. I think you would be able to profit with any ASIC miner.

[Bitcoinbro]

Cloud mining is dead. Not recently after Hash ocean, but when it started. Then a lot of money was stolen by GAW en LTCgear and guess what a year after that people are still falling for cloud mining scams, hashocean is a good example of how greedy some people are.

[iv4n]

I wouldn't recommend cloud mining to anyone, its very risky investment. But if you wish that, be very carful. Never invest everything you have in cloud mining, try to inform yourself about site you wish to invest: how long they work, do they pay, check their twitter and facebook pages to see what other people say about it.
Cloud mining service is a scheme for making money to someone, they will run away one day probably. So be ready for that, try to predict when will it be and take your money before it. Its a gambling, and I wish you luck in this. You will need it, and pay attention about information related with cloud mining service you choose.

[windale]

cex io is truetly cloud mining is real mining but in there is not profitable
and cloud mining is high profit example hashocean only HYIP investment
scheme ponzy not real mining
i think is decision choose is the best investment your money buy hadware in self mining

[RussiaIsBest]

Cloud mining is famous in ponzi scheme world so it is not good to invest there any your money.I always ignore users wiwhich are advertising cloud mining scam.They atecpaying for short and then they scam ever body.

[JeffBrad12]

Cloud mining is dead. Not recently after Hash ocean, but when it started. Then a lot of money was stolen by GAW en LTCgear and guess what a year after that people are still falling for cloud mining scams, hashocean is a good example of how greedy some people are.

The best way it's just avoid them, never once to following them, or put something in their wallet. and i agree the cloud mining is dead . none remaining by the cloud mining except the historycal of scam.

[eduardomjus]

I now understand everything ...
I was thinking about cloudming because at year 2013 I used cex.io to mine in the cloud and did not have any issues .. but according to all answers here, these days cloud mining is no profitable and possibly a scam ..

so I decided to mine at home ... but not BTC because there is no way to compete with chineses  ... and difficulty todays is very high, now I wiil be mining cryptocurrencies alternatives like ETH and DASH or whatever ...

Thank you for everybody here ... definitely the best forum about the subject ..

[Babayega31]

Cloud mining is dead. Not recently after Hash ocean, but when it started. Then a lot of money was stolen by GAW en LTCgear and guess what a year after that people are still falling for cloud mining scams, hashocean is a good example of how greedy some people are.

The best way it's just avoid them, never once to following them, or put something in their wallet. and i agree the cloud mining is dead . none remaining by the cloud mining except the historycal of scam.

Yeah thats what im doing now i really dont like to follow any investment or cloudmining nowadays because i knew that all of them are scam and even though they have legit companies but still we cannot really gaurante that we can earn money by this scheme so thats the reason why we should stop looking at it and invest are very hard earned money because im very 100% sure they will steal all we got if we keep on trusting on them.

[Daffadile]

Hello

Before reading many topics in this forum, because I'm live at Brazil, no way to buy some S7 or S9 or GPU to mine, BTC o ETH whatever ..
Price of electricity is very expensive ... kwh is + or - 9$ per day .. (average)
My question here is: When I talk here about cloud mining, each people indicate to use hashnest.com, but when used cloud mining at cex.io, i did not get good profits, and now, cex.io is not working with cloud mining anymore.
Would it be possible for you to refer me indicate to another cloud mining alternative that can be trusted ?

I have spend a good time to read and calc about values for ROI and found out that it is not a good idea to buy a S7 at hashnest according to these numbers:

initial cost for one s7 = 370$
4860GH/s 
operating cost per day: 7.483$
operating cost per week: 52.38$
operating tcost per month: 224.5$

If this site: https://bitcoinwisdom.com/bitcoin/difficulty and my calculations is correct, to recover the investment of 370$ i would need two months.
Are these numbers correct ?

Is it worth the investment since everiday diffucult increases and ROI decreases ?

Thanks for the help !

That looks right to me but did you remember to properly factor in the change in difficulty ? Will the miners be in operation 24/7 ?
I think the main factor is how long it would take for the miner to get here, remmeber the longer it takes the more money you are losing. You need to factor these things into the equation as well.

[Capradina]

Yeah indeed it seems to be quite interesting and very profitable. However it is not included in the cost of electricity, places, and more. So I think if you want to build mining then at least we have more than enough tools a lot. For if not, then the profit obtained will be slightly or minus

[RussiaIsBest]

i have doubt in every cloud mining site that it is scam becaus elook evey mining cloud site which crated strong picture proofs is deleted from internet adn run away with money

[akosieric]

Just want to ask,  when you say cloudmining is not profitable anymore, is it applicable for all crypto coins or for bitcoin only? If i invest on cloudmining for altcoin, let's say ethereum or ltc,  would i still lose in the future?

[JeffBrad12]

Just want to ask,  when you say cloudmining is not profitable anymore, is it applicable for all crypto coins or for bitcoin only? If i invest on cloudmining for altcoin, let's say ethereum or ltc,  would i still lose in the future?

Just for bitcoin, caused by the block is halving and the supply is get decreased but that is not applied in the another crypto or alternative coin.