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Author Topic: Was there ever a profitable cloud mining site?  (Read 1872 times)
kanazawa
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September 19, 2016, 08:40:43 PM
 #21

Until ~june 2014 it was profitable to do cloud mining, specially for those who were living with high costs in electricity. It was a question of doin' some math to ser that was profitable. But 2015 was very bad for cloud because of the drop in BTC price. So, who invested in (most the 2nd semester) 2015 didn't take money. But answer the thead, there was a good time to do cloud mining indeed.

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September 19, 2016, 10:16:53 PM
 #22

there was a site early 2013 that gave 1 gh test accounts for free (forgot its name)
I opened one for shit and giggles,in 2015 I logged in
and was surprised to see the site was alive
 withdrew around 48$
so yeah,there was a profitable mining site for me Smiley

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September 19, 2016, 10:19:16 PM
 #23

there was a site early 2013 that gave 1 gh test accounts for free (forgot its name)
I opened one for shit and giggles,in 2015 I logged in
and was surprised to see the site was alive
 withdrew around 48$
so yeah,there was a profitable mining site for me Smiley


Not really sure that's a mining site? It sounds like you're describing a ponzi scheme.
A ponzi scheme is arguably one fo the best ways to win and lose Bitcoin (get in the right placce at the right time and you may et your money back, otherwise, it's gone)!.

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September 19, 2016, 10:26:26 PM
 #24

Common sense will tell you that most of the cloud mining operations will not give long term profit for its customers because Bitcoin mining is very competitive and the difficulty is always rising as there are more and more mining rigs added to mine the coins. We have also seen many cloud mining operations closing down and most of them did not even gain return on investment for customers.

So I ask this. Was there ever a profitable cloud mining site? Is there one now? Please post your answers and I will try to do my research on your service to see if what you are saying is true.

By posting your favorite cloud mining site here, we have to first assume that they are not profitable and have to be proven otherwise.
I dont want to sound judgmental but I honestly believe that almost all cloud mining sites are ponzi or scams and it is just a matter of time before they disappear.Dont be misled if they pay you for it is their modus operandi  to use you as a bait for other investors.Once they have lots of bitcoin,they will disappear without any trace


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September 20, 2016, 11:59:15 AM
 #25

there was a site early 2013 that gave 1 gh test accounts for free (forgot its name)
I opened one for shit and giggles,in 2015 I logged in
and was surprised to see the site was alive
 withdrew around 48$
so yeah,there was a profitable mining site for me Smiley


Not really sure that's a mining site? It sounds like you're describing a ponzi scheme.
A ponzi scheme is arguably one fo the best ways to win and lose Bitcoin (get in the right placce at the right time and you may et your money back, otherwise, it's gone)!.
no it was a legit mining UK company
think they closed by now but they were still in business in 2015
a rare ponzi would survive 2 years of operation without collapsing
if I find their name in my browser cache or history I'll post it here

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September 20, 2016, 12:19:16 PM
 #26

Common sense will tell you that most of the cloud mining operations will not give long term profit for its customers because Bitcoin mining is very competitive and the difficulty is always rising as there are more and more mining rigs added to mine the coins. We have also seen many cloud mining operations closing down and most of them did not even gain return on investment for customers.

So I ask this. Was there ever a profitable cloud mining site? Is there one now? Please post your answers and I will try to do my research on your service to see if what you are saying is true.

By posting your favorite cloud mining site here, we have to first assume that they are not profitable and have to be proven otherwise.
I dont want to sound judgmental but I honestly believe that almost all cloud mining sites are ponzi or scams and it is just a matter of time before they disappear.Dont be misled if they pay you for it is their modus operandi  to use you as a bait for other investors.Once they have lots of bitcoin,they will disappear without any trace

That would people would believe and i would agree with that either and i don't really trust cloudmining these days since mostly all of them are scam and others are just still operating by now as ponzi so we should closed some taugh's that we can sti earn on cloudmining since the one who's existing nowadays are not really a real company and just a hyip, thats why delist cloudmining in our investment plan so we cannot get compromise if they will turn scam.

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September 20, 2016, 01:02:16 PM
 #27

for now, i think mining its not profitable again if we only have small hashrate because the difficulty of bitcoin was increase and there are no chance for us to get much of bitcoin. for the minimum hashrate i think it will be like more than 1000 ghs.

but for now, there are many cloud mining site that ready to scam every people which join with them and they can scam us in everytime. its hard to choose what is the good cloud mining site.
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September 20, 2016, 06:06:35 PM
 #28

I never believed in any of the cloud mining sites even when some of those were giving good return because i know there is nothing like easy money.
The sites which promised to give good return scammed like hashocean and cldmine.And the one which are still running are giving very less return so as of now there is none profitable and trustable cloud mining sites.
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September 20, 2016, 06:08:31 PM
 #29

There was a service called cex.io in which you could trade your hashpower for btc inside their own trading platform. Well, I never did any real profit from the cloud mining service that they offer but I did get nice returns on the hashpower trading they have. That was the only profitable cloud mining site that I ever participated because there is an option for you to always sell your mining power for a different price unlike others that would just lock you up in x years commitment and giving you dust every day.

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September 22, 2016, 11:36:14 AM
 #30

In the beginning when difficulty of bitcoin was not so high and increases in difficulty didn't happen as often as they do now , in this time Hashnest was profitable.

Unfortunately this time was a short one as difficulty started to increase rapidly which starting to mean lower income daily until it was not profitable from a long time now.

Yes there was a profitable cloud mining site a long time ago but now it does not exist anymore such site.
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September 22, 2016, 04:05:01 PM
 #31

I mean obviously there was. Mining in general is not profitable for most people but again obviously it has to be profitable for someone otherwise bitcoin would have been dead by now because no one would mine it. You need serious hardware and a lot of money to initially invest into mining to be able to get a profit afterwards.



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September 22, 2016, 05:18:22 PM
 #32

In 2012-2014, cloud mining was very profitable (ROI only in few months) and many people was talking about it.
But, there's ponzi cloud mining called PBMining and many people fell for it (included me). Even there were some ponzi cloud mining, few people still managed to earn profit.

But now, cloud mining isn't profitable anymore whether it's legit or not,

Yea, I remember the PBMining days, and if I remember correctly I made more profit from their sig campaign back then, than the cloud

mining I did on their site. I actually believed that cloud mining was not a Ponzi scheme and that it was backed by real hashing being

done. I even bought some at CEX.io to spread the risk. Now, looking back... I cannot believe how gullible I was. Well, we all have to

learn the hard way.  Roll Eyes

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September 22, 2016, 09:12:40 PM
 #33

I mean obviously there was. Mining in general is not profitable for most people but again obviously it has to be profitable for someone otherwise bitcoin would have been dead by now because no one would mine it. You need serious hardware and a lot of money to initially invest into mining to be able to get a profit afterwards.

I am not sure to be honest. I know that the only party that comes close was hashnest and even they can't offer real time roi. Simply because they corrupted their own market with so many price manipulation. With them out of the picture it's safe to say there are none.
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September 23, 2016, 10:07:46 AM
 #34

I mean obviously there was. Mining in general is not profitable for most people but again obviously it has to be profitable for someone otherwise bitcoin would have been dead by now because no one would mine it. You need serious hardware and a lot of money to initially invest into mining to be able to get a profit afterwards.

I am not sure to be honest. I know that the only party that comes close was hashnest and even they can't offer real time roi. Simply because they corrupted their own market with so many price manipulation. With them out of the picture it's safe to say there are none.
Yes, there is no cloud mining site which is always profitable to investors. Practically, mining bitcoin will be profitable only if you are able to save the block rewards for some time, which is not possible with cloud mining business structure and they do get affected by bitcoin price fluctuations.

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September 23, 2016, 10:22:24 AM
 #35

Common sense should tell you to not open this kind of thread. All cloud mining services are profitable for the owners, and people who get there first. And even if they get there first their profit is not guarantee. Pyramid works like that, people give, they get something in return in the beginning. but how things going forward they have more and more people and just in one moment they disappear with all that money people invested.
Here you are to inform yourself a bit, maybe you will find something interesting here.

https://en.wikipedia.org/wiki/Pyramid_scheme

https://en.wikipedia.org/wiki/Ponzi_scheme


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September 23, 2016, 01:00:36 PM
 #36

I mean obviously there was. Mining in general is not profitable for most people but again obviously it has to be profitable for someone otherwise bitcoin would have been dead by now because no one would mine it. You need serious hardware and a lot of money to initially invest into mining to be able to get a profit afterwards.

I am not sure to be honest. I know that the only party that comes close was hashnest and even they can't offer real time roi. Simply because they corrupted their own market with so many price manipulation. With them out of the picture it's safe to say there are none.
Yes, there is no cloud mining site which is always profitable to investors. Practically, mining bitcoin will be profitable only if you are able to save the block rewards for some time, which is not possible with cloud mining business structure and they do get affected by bitcoin price fluctuations.


Actually cloudmining are in horrible state right now and that is not really a good choice for us to earn some profit upon investing at those, and come to think of it we shouldn't close the idea upon investing at those since mostly of them are runned by scammers, so thats why for our safety we should stay far away for those anymore and find another good thing as investment so we can make sure to gain not to lose



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September 23, 2016, 01:06:00 PM
 #37

No they weren't.

They were all scam. They ran their business for a long time. People wanted them to be real deal but it wan't the case. Soon they learnt the hard truth.
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September 24, 2016, 07:03:47 AM
 #38

There is clouds mining running a Ponzi scheme but in the end they will be fraud because the cloud actual mining takes a long time for you to take advantage.

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September 24, 2016, 07:20:53 AM
 #39

technically no there were never a good and profitable cloudmining site that you could just invest and make some amount that you could even call "profit".

although there were this one site called Ghash.io which is still available i think where you could buy GHS from through the exchanger (which is still active to this day) called CEX.io it was kind of profitable but it was a long time ago and most of the profit that i got from this site was through trading the GHS.

it means i could buy GHS and as soon as i bought it, the miner would start mining for me and i could sell it or a part of it any time i wanted and price of GHS went up and down just like any other altcoin so there were a good market for profit.

just FYI they stopped cloudmining when price went down and the maintenance fee became so high.

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Fatanut
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September 24, 2016, 10:19:32 AM
 #40

Not to promote ponzi sites, but a lot of people claim that they have made some money out of HashOcean. HashOcean ran for time longer than what we expected. Those people who have invested in the early stages of a ponzi site are the only ones who have a chance to make profit out a ponzi site. However, just because those people made money out of a cloud mining site, doesn't mean you will too. Don't invest on cloud mining site, ever.

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