why is there no cloud-mining now?

[BrewMaster]

first of all let me clarify that i am talking about Real Cloud Mining not the Ponzi scheme with the name cloud mining on it.

i remember a couple of years ago there have been legitimate cloud mining businesses such as GHASH.io or as you may know it Cex.io and when bitcoin price went down to $200 and stayed around <$400 they paused it (explicitly called it pause) because of higher maintenance fees.

now all the difficulty rise aside, price is nearly $3000 and that covers more than enough of any kind of cost mining has and it is producing a lot of profit for miners.

so my question is, why is there no cloud mining these days? for example why didn't Ghash.io resume their mining again?

[BitHodler]

ViaBTC offers a 'real' cloud mining service similar to how CEX.IO was doing it.

But there is a huge catch, as soon as the contract isn't profitable for 10 days straight, your contract will be void automatically, and thus your investment is gone.

Another negative aspect is that they charge like 6% in fees per reward, per block. To add ~ their total network hash share has decreased to sub 5% levels. It's not worth it.

[Nagadota]

There are a few cloud services which are "legitimate", albeit some of them can be shady.  A few of them are:

-Hashnest.
-Hashflare.
-Genesis Mining.
-ViaBTC.

Cloud mining is far from dead.  The problem is that people don't actually get ROI on it.

With Genesis Mining for example, people sign up to loads of two-year altcoin contracts, and then they end up actually losing money because every time the difficulty catches up with the price after a few months.  These surges in price don't make cloud mining profitable in the long term, because Bitcoin and (stable) altcoin mining is now matured enough that mining remains barely profitable, and only goes beyond that after a significant rise in price.

When companies have to make profit, this makes the actual money for the investor about zero.  Not to mention that you're buying hashrate, so price rise = difficulty rise = hashrate means less in the cryptocurrency, since you're actually investing using cryptocurrencies in the first place.

[BitHodler]

Genesis mining is a straight scheme that will collapse at some point, not sure why you find it necessary to list it here.

Time on time again they have refused to publicly release their general mining address, while there is absolutely no reason for them to keep it hidden, other than the reason that there isn't a mining address at all.

[mattermaster]

Infact, whether you talk about a real or a scam bitcoin mining programs, there is no trustable mining on the whole internet.
All are ponzi scheme platforms even if they pay you for awhile to build their trust among people.

[fistfullofbtc]

ive had a 2 year dash contract bought in March 2017.

i would have bought a x11 miner but they had sold out.

so far 90 payouts worth 2.39 dash. which today equals 439 dollars. i didn't sell at high price, but still still made over half my roi in 3 months. yes difficulty will increase but so many people keep saying scam scam etc it is unbelievable.

Probably same people that make bad investments. i saw at the time it was a good buy at 475 dollars for 100m/hs, but like i posted 0.39 btc would be worth more. Not everyone want to trade, i mine myself, have my genesis contract and trade a bit, at least i add more to the system than others who just sit on there coins until they die.

My service has been great it is nice to have a wallet accumulating with no effort, you can mine other coins as well, and customer service get back pretty quick.
 

[freebutcaged]

ive had a 2 year dash contract bought in March 2017.

i would have bought a x11 miner but they had sold out.

so far 90 payouts worth 2.39 dash. which today equals 439 dollars. i didn't sell at high price, but still still made over half my roi in 3 months. yes difficulty will increase but so many people keep saying scam scam etc it is unbelievable.

Probably same people that make bad investments. i saw at the time it was a good buy at 475 dollars for 100m/hs, but like i posted 0.39 btc would be worth more. Not everyone want to trade, i mine myself, have my genesis contract and trade a bit, at least i add more to the system than others who just sit on there coins until they die.

My service has been great it is nice to have a wallet accumulating with no effort, you can mine other coins as well, and customer service get back pretty quick.
 

Yes mate though only altcoins mining is somehow near profitable with genesis mining, I'm not sure about Bitcoin contracts, generally speaking

Bitcoin now needs at least half a million bucks investment to be able to stay in the race with other miners, it's not like cloud mining services

Share whatever they truly are earning, if you buy altcoin contracts I believe you could ROI, coins like ETH, DASH, DOGE, if you try hash nest

You'll need more than 100TH/s to ROI and you'll automatically support BU/EC.

[mrcash02]

I believe because it became a very hard niche to get in. You have much expenses, big investment, need to have access to sustainable electricity cost or sources. People looking for creating their own businesses maybe found another ways to do it, cloud mining is something that stayed in the past...

Also, I think possible new cloud mining owners may think they will have difficulties to find new investors, as this kind of investment is saturated and most people in Crypto-Currency world wouldn't invest their money on it, as other's experiences were terrible.

[keyscore44]

Actually cloud mining is still working, but not as it was in past. We still can find farms as Hashnest and Genesis-Mining, but nowadays more popular is just renting place for mining rigs.
Guys who know how to construct and take care of farm just looking for place with very cheap electricity costs and then looking for investors who want buy ASICs  and use their place to mine BTC (or other crypto). Good example of project like this is this guy:
https://bitcointalk.org/index.php?topic=1694162.0

[pinkflower]

first of all let me clarify that i am talking about Real Cloud Mining not the Ponzi scheme with the name cloud mining on it.

i remember a couple of years ago there have been legitimate cloud mining businesses such as GHASH.io or as you may know it Cex.io and when bitcoin price went down to $200 and stayed around <$400 they paused it (explicitly called it pause) because of higher maintenance fees.

now all the difficulty rise aside, price is nearly $3000 and that covers more than enough of any kind of cost mining has and it is producing a lot of profit for miners.

so my question is, why is there no cloud mining these days? for example why didn't Ghash.io resume their mining again?

There are only maybe a couple of cloud miners that can give you ROI but dont expect high profits. The model of cloud mining was proven to be unprofitable. A lot of players came in and failed because they simply cant compete with the biggest players in the space. Plain and simple.

[crazyivan]

There is cloud mining, GM provides it, Hashflare provides it. Here is the link:

https://bitcointalk.org/index.php?topic=1579210.0

Whether you have enough skill to actually reach ROI, that s a separate question. I always prefer building my own rigs and using cloud mining alternatives, like PoS for example.

Here is another link for you for PoS:

https://bitcointalk.org/index.php?topic=1931773.0

Let me know if you need help, I ve been in crypto for a long time.

[betlord90]

first of all let me clarify that i am talking about Real Cloud Mining not the Ponzi scheme with the name cloud mining on it.

i remember a couple of years ago there have been legitimate cloud mining businesses such as GHASH.io or as you may know it Cex.io and when bitcoin price went down to $200 and stayed around <$400 they paused it (explicitly called it pause) because of higher maintenance fees.

now all the difficulty rise aside, price is nearly $3000 and that covers more than enough of any kind of cost mining has and it is producing a lot of profit for miners.

so my question is, why is there no cloud mining these days? for example why didn't Ghash.io resume their mining again?

Its because real mining business doesn't find it profitable anymore actually you can read more facts about it when you search it on google, And the only cloudmining left standing right now is Nicehash,genisis-mining and hashflare but they are not truly profitable and its very not worth it to invest there if you calculate your profits upon investing at them for long time periods.

[cissrawk]

i dont know a lot about cloud mining but from i see some threads in this forum. They always say "Cloud mining itsnt profitable anymore". But i know still use hashflare, genesis and hashing24 since hashing24 is part of bitfury so i think hashing24 is better choice.
But yeah, all investment program like cloud mining can close someday(or maybe become scam) we will never know that.

[BlackPanda]

Infact, whether you talk about a real or a scam bitcoin mining programs, there is no trustable mining on the whole internet.
All are ponzi scheme platforms even if they pay you for awhile to build their trust among people.

I am very disappointed with the cloud mining system. Until now I have never made this investment, it is just a scam and we will incur losses. The owners of the cloud mining site just take our money without leaving a single bit.

[SONG GEET]

The only one that still exist and considered as legit cloud mining platform is genesis mining but there will always be risk of losing when you buy contract with them. Their price also fluctuates with price of bitcoin so if bitcoin price drops dramatically you may end up with nothing as profit.

[BrewMaster]

Its because real mining business doesn't find it profitable anymore actually you can read more facts about it when you search it on google, And the only cloudmining left standing right now is Nicehash,genisis-mining and hashflare but they are not truly profitable and its very not worth it to invest there if you calculate your profits upon investing at them for long time periods.

no actually i can't find anything about "why mining business is not profitable" on the google. and also i believe it IS profitable and it is very profitable in fact.

have you checked out price and the rewards lately?
price is above $2700 and a block reward is more than 15.5BTC (12.5 + 3+) which is equal to $42000

and also i find the reason why the cloudmining (not mining) is not profitable is an intentionally bad design to make it more profitable for the owners not the investors.

[swogerino]

There is Hashnest which operates similarly to Ghash.io but a bit more in a shady way. Even when price of bitcoin is 3000 dollars they don't give you the profit you deserve citing all kinds of service maintenance. I wonder what they gain from this behavior as I sold my Ghs and I am out of this website for good. Not worth the time. Many people say this is the only true cloud mining but in my experience this is not true cloud mining at all.

[Qartada]

Its because real mining business doesn't find it profitable anymore actually you can read more facts about it when you search it on google, And the only cloudmining left standing right now is Nicehash,genisis-mining and hashflare but they are not truly profitable and its very not worth it to invest there if you calculate your profits upon investing at them for long time periods.

and also i find the reason why the cloudmining (not mining) is not profitable is an intentionally bad design to make it more profitable for the owners not the investors.

That's pretty obvious.  Bitcoin mining is designed to only just be profitable.

Cloud mining companies still exist and receive huge investments, but the way that cloud mining companies manage to receive these investments is by misleading investments with estimated ROI times and the income that they will receive.  The estimated time to ROI is always based on the current difficulty - but when the price rises dramatically in a short time, the difficulty just takes a bit longer to catch up.  A short way through their contract people start realising that their profits are decreasing, as they should.  As soon as difficulty catches up with price, cloud mining fails because the company makes profit on top of what they're paying users.

[richardsNY]

I wonder what they gain from this behavior as I sold my Ghs and I am out of this website for good. Not worth the time. Many people say this is the only true cloud mining but in my experience this is not true cloud mining at all.

What they gain? It's obvious -- they keep as much of the invested funds within their system. You having sold your GHS shares just means that the new owner of your previous shares will be going through the same annoyances. I never understand why people despite all the warnings to not invest into cloud mining, they ignore it, and proceed anyway.... Glad that you got out. May I know how much of your initial investment you managed to pull out?

[LTU_btc]

If business want offer legit cloud mining, they would need big initial investment. And after all they can't guarantee ROI for their investors, or it would be very low and people wouldn't be interested to invest.
Also, now it would be hard get users trust after all these cloud mining scams, because now people are looking very suspicious into cloud mining projects.
Freebitco.in is sharing part of mining operations profit with their users and they are giving fixed interest.