Advantages of bitcoin cloud mining

[hashnest]

What is cloud mining?
You can participate in bitcoin mining without maintaining the hardware by yourself.

We would like to share with you the advantages of bitcoin cloud mining to the members who are interested in.

1. Start hashing immediately!
Escape the noise, costly electricity bills, and warranty headaches.

2. Stable
Mining deployment on a global scale 99.9% uptime guaranteed!
Detailed statistics provided.

3. Flexible
Start mining with even just one gigahash.
Trade and transfer hashrate with ease.

[examplens]

We all know what it is cloud mining. Usually, it is the other name for fraud and Ponzi schemes
You can found there a quite number of threads about cloud mining shit. You can enlist only new members who are greedy about money

[arwin100]

How can bitcoin get an advantage if its status is not profitable anymore? Do you have other option interms of using some alternative ways so that you can lessen the maintenance fee and electricity? And also how did your miner earn some profits? And lastly how long is your business do you think can survive since the blocks of bitcoins got more higher difficulty?

[Frosxh]

i would like to ask if transferring mining power to other user/s is possible without going to the market, lets say thru the support? been with hashnest for a while now but i don't see options for transferring mining power unless through the market

[hashnest]

We all know what it is cloud mining. Usually, it is the other name for fraud and Ponzi schemes
You can found there a quite number of threads about cloud mining shit. You can enlist only new members who are greedy about money

Bet you didn't try HashNest which is the most reliable cloud mining platform.
It is under Bitmain which own Antpool and many physical miners.
It's getting profit from S7 and S9 now, and even PACMIC V5 contract.
We accept even starting investing from 1G=0.00004btc.
You can even redeem your miners to your address when it's getting unprofitable.

[hashnest]

How can bitcoin get an advantage if its status is not profitable anymore? Do you have other option interms of using some alternative ways so that you can lessen the maintenance fee and electricity? And also how did your miner earn some profits? And lastly how long is your business do you think can survive since the blocks of bitcoins got more higher difficulty?

If the miners are not getting profit, surely we will stop running the machines. After then, there will be a redemption period when users can redeem their miners to their required addresses only if they have enough hashrates under their accounts.
The maintenance and electricity fee has been dropped to 0.07$/kwh which leave more profit to users actually.
S7 and S9 are getting profitable and S9 is the most effective hashreate.

[hashnest]

i would like to ask if transferring mining power to other user/s is possible without going to the market, lets say thru the support? been with hashnest for a while now but i don't see options for transferring mining power unless through the market

Sorry no.
I'm afraid market is the only place you can 'transfer' the hashrates.

[ImHash]

Can you explain to me why did you mined with S9s for almost 3 months before making it available and sell their hash power in cloud contracts?

[coolcoinz]

Hashnest must be doing really bad these days if they are employing people to make such topics. There are at least 20 similar ones already and those, who wanted to know more about cloud mining can find many useful information there. To me the most useful one is that the system makes you wait years to ROI and many CM companies disappear before or right after you reach this point, or like Genesis Mining tell you that they had to terminate your contract because it was unprofitable...

[BrewMaster]

to be honest the only benefit of "cloud mining" (legit one of course) that i can see is the fact that you don't have to have a physical miner at your home with the sound and all to mine.
everything else such as electric bill, ... all the things OP said are not really benefits. because most of them are in both cases.

but in front of that there are lots of downsides such as paying much more maintenance fees. and worst of all is trusting a third party that can run away at any point. and it already happened way too many times.

[youdamushi]

Looooooooooooooooool

cloud mining "stable" xD

No, cloud mining is NOT stable, it's even the contrary. It's no unstable that if the price drops a bit too much for 30 days the "lifetime contract" will be voided.
So it's not stable and certainly not flexible!!!

[mrcash02]

There isn't any advantage in cloud mining. The profit is low or inexistent, the daily income isn't fixed, each new day you receive lower income, no guarantees in lifetime contracts. The only people making profit with cloud mining are the equipment's owners and the investors with many referrals.

[BitHodler]

Looooooooooooooooool

cloud mining "stable" xD

No, cloud mining is NOT stable, it's even the contrary. It's no unstable that if the price drops a bit too much for 30 days the "lifetime contract" will be voided.
So it's not stable and certainly not flexible!!!

Most people know that cloud mining is a done industry with barely any chances of getting roi with these difficulty jumps every two weeks.

If the difficulty jumps aren't enough, you also need to get worried about contracts that might get dropped as you also mentioned, or they will just take everything offline and blatantly run with people's money.

Only rookies are interested in cloud mining as they find it interesting in the way that they think that they are mining, plus they also "earn money" without breaking a sweat.

[deadsilent]

How about disadvantages of cloudmining? Like;
Its not profitable anymore
Its not really stable. It could collapse anytime. The opposite of op was saying.
Cloudmining is scam prone. I've seen some cloudmining that turned to scam lately. Ran away with investors money.
It takes long time to get your ROI. It takes years. So its a patience test. Plus the risk of collapsing anytime.

These disadvantages kills the advantage of cloudmining. So only rookie are falling to cloudmining.

[fullypak]

There isn't any advantage in cloud mining. The profit is low or inexistent, the daily income isn't fixed, each new day you receive lower income, no guarantees in lifetime contracts. The only people making profit with cloud mining are the equipment's owners and the investors with many referrals.

But getting referrals to sites nowadays is quite hard because now many people already know that these sites mostly end in a scam, so no one wants to risk their money. If anyone wants to get referrals, then they need to catch newbies, but soon or later they also will come to know about these scam programs. As per me, only owners of these sites will be benefitted, and rest of the people most likely will lose money.

[amacar2]

- No any authority where we can file case against cloud mining service if they run away
- With increasing mining difficulty it is almost impossible to make any profit even after waiting for years
- Cloud mining services used to sell more than their real mining power
- Price of cloud mining packages keep on decreasing over time so it will not be not profitable to trade old mining packages
- There are many cloud mining sites that have ran away in past so it is quite hard to trust any other cloud mining services.

[BitcoinGirl.Club]

We have very few legit cloud mining sites and advantages of using them is we cut down on  labor costs, cooling costs and generally maintenance costs of the equipment and the availability of skilled personnel to run the miners the efficient way .

[passwordnow]

What is cloud mining?
You can participate in bitcoin mining without maintaining the hardware by yourself.

This what those cloud mining companies are keep on telling to the investors that is lack of knowledge about your service. 

1. Start hashing immediately!
Escape the noise, costly electricity bills, and warranty headaches.

Yes, escape the noise, helping you pay with your electricity bills and other bills as well and removing your headaches too.

2. Stable
Mining deployment on a global scale 99.9% uptime guaranteed!
Detailed statistics provided.

Stable? In what way? Don't mislead people here, we all know that cloud mining will into the same fate of scamming people.

3. Flexible
Start mining with even just one gigahash.
Trade and transfer hashrate with ease.

Yes you guys are flexible when it comes to investors, you are accepting whatever amount those investors can deposit to you.
Don't believe this guy people that is making cloud mining to be a good type of investment instead stay away from them.

[Yuuto]

Well I can't really think of anything that resembles an advantage to a bitcoin cloud mining site.

You have to realise that cloud mining sites has to make profit one way or another, so if it is offering stable profits then it is probably a scam, probably a ponzi scheme as well.

If it's legit, then it'll probably charge you ridiculous maintainance costs, which you probably can avoid by getting miners yourself.

You cannot resell contracts on most cloud mining sites. However you can resell your miners, if you buy physical ones.

[Slow death]

the daily income isn't fixed, each new day you receive lower income,

This causes many embarrassment

no guarantees in lifetime contracts.

Another embarrassment

The only people making profit with cloud mining are the equipment's owners and the investors with many referrals.

truth.

Who has many referral can make a profit