What about cloud mining?

[MANNYKURSH]

What about cloud mining? Is it profitable?

[BitcoinNewsMagazine]

What about cloud mining? Is it profitable?

Depends on your definition of profitable. If we are talking bitcoin the most profitable cloud mining outfit is pool.viabtc.com in China. They charge $159 per TH/s for lifetime cloud mining using S9s. They have the lowest fees in the industry, such as it is, but one TH will pay you daily after fees average $0.65 (I have one.) That would be 8 months to ROI without price or difficulty increase. More like a full year. They also offer BCC cloud mining, which definitely is not profitable at the moment. You see a lot of shills for pool.bitcoin.com which is also pushing cloud mining; they have higher fees than ViaBTC so are not as profitable. Not surprising since their mining farms are in the US where power is more expensive. Both of those outfits are more profitable than Genesis Mining which has even higher daily fees.

If you want to play with cloud mining buy a TH or two at ViaBTC. You can switch from BTC to BCC if you like. However, if you are serious about making money mining you should be putting a GPU rig together and mining Ether at home. Here is a guide and good luck as many other people had the same idea and GPU video cards are hard to find.

[Rahar02]

6-8 months ROI isn't a good idea for me, but if you consider lifetime contract, then it is slightly profitable.
I don't want to be involved in this game of investment which mostly ended with loss, not all but it's not worth in my opinion.
Many newbies trying to get bitcoin through cloud mining and it's their choice, just buy and hold bitcoin for long term is better I guess.

[john2231]

What about cloud mining? Is it profitable?

Its repeatedly ask this question many times here in service discussion and almost you can read that cloud mining is not profitable and most of them are scam . if you love your bitcoin you should invest because you are just wasting and expecting a passive income but in the end you will be scam..
If you really want to make a profit better to hold bitcoin instead because the price of bitcoin is not stable and you can make more profit
Because bitcoin is upgraded and the speed of transaction increase and the miners fee are reduce. .

[jnow]

What about cloud mining? Is it profitable?

At this time not really. Basically the cloud mining companies make money on you, while you might end up with a loss.

[lottery248]

first of all, ensure that those cloud mining is legitimate, such as checking their proof of work in the block signature.

second, check their maintenance fee, because some of the cloud mining sites being trappy about maintenance fee; suppose such as their own electricity or how they repair/maintain their miners.

i am not sure if any profitable legit cloud mining sites though, except www.hashnest.com

[gilangIDR]

Until now I do not trust cloud mining as a profitable investment. I see some reviews stating that cloud mining is just a matter of spending our time, as most cloud mining only plays the calculation numbers and ends with a scam. I would rather buy RIG and then you can do the mining at home, this is more real and also you will not lose money in vain. Cloud mining is highly discouraged because it is very risky and unreliable.

[Tipstar]

Cloud mining could be great if you have patience and you choose the legit option.
The ROI of cloud mining is around 19 months on average.
But that would not be the exact case if you calculate them in fiat.
As the bitcoin price is rising every year buying one contract now would give you nice benefits in the future.

[sunsilk]

What about cloud mining?

Many threads here already that are discussing about cloud mining and asking if they are legit, probably some are legit but it's not worth your money and time to invest there.

Is it profitable?

No, it's not worth and profitable today unless you are pushing yourself go get in there.

[crazyivan]

PoS coins re much better option, it s a version of soft mining which is very profitable. About PoW cloud, well, it s hard to reach profitability unless you have your own rigs.

[Ctn]

It's hard to say as difficulty is increasing continuous. Finding blocks has ultimately become a difficult task now and with any power of miners available to the date it will take you upto one year to get your returns back. But the question arises on cloud miners side whether they gonna stay in the market for that long or not.

However, you can try out hashflare and genesis for instance as they are being in the industry since long time.

[tonlong]

Cloud mining isn't the best option to go with Bitcoin. You should better consider in just buying Bitcoins. If you want to try best is hashflare, its not super fast or a HYIP.

[iqlimasyadiqa]

It's hard to say as difficulty is increasing continuous. Finding blocks has ultimately become a difficult task now and with any power of miners available to the date it will take you upto one year to get your returns back. But the question arises on cloud miners side whether they gonna stay in the market for that long or not.

However, you can try out hashflare and genesis for instance as they are being in the industry since long time.

Genesis is indeed one of the cloud mining that has a good track record at this time. But the longer ROI certainly makes us difficult to be able to take advantage. If doing the mining also requires a large capital, while the higher difficulty level and difficult to get the right coin. This will be confusing as it turns out mining is not an easy thing for those new to bitcoin, courage is also needed to make this investment.

[BitMaver]

Cloud mining has long been dead! You can disagree with me, but this is a passed stage.
In my opinion, it's better to rent hashing power than to buy. Sometimes I rent hashing power on NiceHash when I see a potentially promising coin. But in this case we must constantly be aware of what is happening.
IMHO 

[swogerino]

Cloud mining is profitable only for the admins running scammy ponzi schemes disguised as cloud mining in order to attract people new to bitcoin. In general the victims usually are people who have only just started with bitcoin and because of their enthusiasm they rush and invest in such sites. The legit cloud mining websites like Hashnest will never let you ROI so cloud mining is dead now.

[adam1230]

Cloud mining will never be profitable. Most of them are ponzi and few of them mining for real but after fees you will never reach ROI